A recent survey conducted by the National Association of Software and Services Companies (NASSCOM) concluded that more than 50% of the Indian professionals will have to upskill themselves to match the changing dynamics of the industry. The major areas of progress include technical skills such as Big Data Analytics (BDA) and Artificial Intelligence (AI), along with qualitative skills such as problem assessment, negotiations, and business communications.
Professionals, who demonstrate proven expertise in emerging technologies, while keeping up with the rapid evolutions in the field, are in growing demand. In such an environment, organisations are motivating their employees to re-skill themselves constantly so that their existing knowledge base does not become redundant. While freshers with management education enter the job market possessing updated managerial skills, it is becoming essential for the existing employees to bridge their knowledge-gap to compete with them and advance their careers.
WHAT IS AN EXECUTIVE EDUCATION PROGRAMME?
Top management schools in India and abroad have recognised the gap in the demands of the industry and the existing workforce. Therefore, they are curating short, but intensive courses that are aimed at helping working professionals to upskill themselves. These courses concern a diverse range of topics ranging from leadership programmes, negotiations, emerging technologies, strategising practices, among others. The rationale behind all these programmes is to enrich the existing skill sets of the working professionals and prepare them for the evolving market scenarios.
It is to be noted here that these executive programmes are distinct from regular management degree courses. They are professional development courses that usually conclude with a certification or a diploma on completion. The focus of the executive education programme is around case-solving and building on the core skills with practical industry scenarios.
WHY PROFESSIONALS SHOULD PURSUE THIS
Changing business scenarios, the world over demands a range of advanced skill sets for business professionals to stay ahead in the curve of competition. The impact of an executive education is not only to upgrade one’s resume but also ensure upgrading of core business skills that a professional must acquire.
A certification in a niche functional area with advanced knowledge garners the attention of top recruiters from reputed organisations. Furthermore, it strengthens the position of the individual in her/his existing organisation and also entitles her/him to promising opportunities for securing a more advanced role in the organisation. Additionally, an executive education broadens the perspectives of an individual and enhances her/his business vision. While pursuing these courses, professionals with diverse corporate experiences get to interact with others. This helps in gaining deeper insights about myriad domains in the market and exploring possibilities of growth in them. Collaborative projects and assignments constitute a significant part of such courses that serve as great team building and communication exercises.
Compared to full-time management programmes, an executive MBA programme does not require a professional to take a break in her/his career. These courses are designed as per the convenience of working professionals so that they can establish a convenient balance between their work and education. This also helps a working professional to apply the concepts she/he learns in the classrooms to practical real-life scenarios enabling her/him to receive prompt feedback about the usage of their upgraded skills, which facilitates deeper learning.
THE BOTTOM LINE
The Covid-19 pandemic has caused severe disruptions in the business ecosystem. The market has faced dire consequences of such an unforeseen challenge. The rates of layoffs and company shutdowns have spiked up. While business experts and analysts continue to assess the consequences of these transitions, working professionals must upgrade themselves to stay relevant in a potentially difficult job market.
Pursuing an executive MBA programme is meant to equip working managers with the knowledge and advanced skills-set which will prepare them to survive through the toughest challenges they are likely to encounter in the post-pandemic era.
The writer is Dean (Academics) at FORE School of Management, New Delhi.