India's management education has changed because of the latest trends A country’s economic development is related to its educational advancements. In the 21 st Century, India has witnessed noticeable changes in its managerial education system. At present, the Indian managerial education system has become professional in nature. The best CG College is launching cutting-edge managerial courses. In the contemporary economic scenario, managerial education has got new dimensions. The sector of managerial education is dynamic. Fresh tools and technologies are introduced periodically to enhance the productivity of managers of tomorrow. A few trends that have shaped today’s management education are listed below.
Globalization
Barriers among nations have melted away because of developing technology and increasing interdependence among countries. Business, nowadays, has become global. The strengthening of economies of developing nations – India, China, etc. – is questioning the hegemony of the West. Globalization has created a level playing field for developing and developed nations. Presently, a business’ impact on other businesses is profound. For instance, the Depression of 2008: impacted the entire world.
The globalized world requires managers to have global competencies. Today’s managers need to be aware of not only their businesses but competitors’ strategies as well. For building such competencies in managers, even the best CG College has designed its business administration course structure accordingly.
With the coming of globalization, the conventional approach to management education underwent a sea change. Globalization has changed the operating structure of business, public and social organizations. The need to change the managerial training systems has become pressing with modifications in organizational structures.
Technology
A wave of globalization could not have impacted businesses if it were not for the advancements in technology. The statement is corroborated by the fact that nearly five of the world’s most innovative companies are technology-driven. Technology has helped in shaping the present-day, commercial
world. At present, courting customers and managing supply chains are done with the help of websites, email marketing, and social media.
The distribution, marketing as well as manufacturing procedures of a business, nowadays, are managed by real-time information systems. Thus, most business schools have introduced a dedicated course of technology for all managers. Such a course aims to make contemporary managers conversant with the latest technologies.
Corporate Social Responsibility (CSR) and sustainability
A sustainable planet helps in the sustenance of a global business. Every business aims to be sustainable because lasting sustainability brings profitability. Presently, each business applies managerial principles to solve long-in-the-tooth issues such as energy, health care, environment protection, and the like.
Nowadays, a well-defined Corporate Social Responsibility (CSR) strategy needs to be devised by every business. Future managers must combine principles of management to build a robust CSR strategy. Owing to the growing importance of CSR, many B-schools have introduced a special subject for giving managers lessons about their social responsibilities. Future managers are expected to introduce new projects and activities that have a positive socio-environmental impact.
The above-named trends are shaping managerial education. Each of these trends has a significant influence on the syllabus of the present-day business management programs. As the contemporary business platform changes, these trends will give way to other fresh styles.