Under the immense pressure of several lockdowns, COVID-19 successfully has forced several B-schools to extend their deadlines like the University of Chicago. Some schools have even waivered their entrance requirements. Do you see the shift from the buyer’s to the seller’s advantage? Some Universities also see a silver lining anticipating a rise in the number of applications for the MBA programs.
Amid the rapid changes in today’s world, especially with the fourth industrial revolution in place, ineffective traditional businesses would also see a significant cross-skill and upskilling of employees. The changing landscape of industry due to the increase in cybersecurity systems also mandates robust cybersecurity and cyber immersion culture.
Alternatively, businesses are currently approaching many of their inefficiencies by using Big Data, cloud computing and IoT (internet of things). To keep pace with the technological advancements, businesses today need to integrate information and data as part of their business model.
Even the quality of education has been hit badly as sessions got delayed while the whole world prepared to transition from the classroom to online class structures. B-schools too had to quickly reformulate and restructure their teaching modules & curriculum to suit the online class modules.
Ideally, economic lows encountered this year have often seen a surge in the number of MBA applications. The degree has proven to considerably increase the salary amount upon successful absorption into a job after the course.
Thus, if you want to know if this could be an excellent time to get an MBA, the answer would be yes. Not only has the pandemic made things difficult for many across the globe, but it has also brought around a certain level of uncertainty even in business schools. Reduced fee structures, an extension of application deadlines, levy in the admission procedure are some of the measures taken to fight this sudden pandemic outburst.
An international or national level MBA at this stage of economic turmoil could also be a boon for those who decided to continue with an MBA. An MBA can prepare you for the world that is changing at a magnificent pace today. With an appropriate MBA, you can still ensure a promising outlook with which you can yourself contribute considerably towards the developments in line.
In addition to COVID-19, the digital wave is ideally impacting every sector and field. It promises to replace all old ways massively and promises to alter the manufacturing, supply chain, distribution, retail and even the financial world. The things of today would either vanish or improvise to stay put in the market tomorrow.
Nonetheless, an MBA from a prestigious school remains one of the most sought-after degrees in the current year since it can still promise to place students at the right places even amid so much of changes. It can always prepare you to ask the right questions and solve challenges accordingly by forming a bridge between the old and the new ways slowly and gradually ushering the new ways into the world for practical implementations now and in the future.
