Acquiring 21st century skills with distance MBA Program Part 2
We are living in a VUCA world. VUCA means Volatile, Unpredictable, Complex and Ambiguous. Technologies are disrupting every business and job role on this earth. Automation is threatening to take away many low-level routine jobs. New technology businesses demand new ways of doing business with newer business models. According to the Economic times, there is a decisive change in the areas in which talent hiring is done in last 6 years. Now the job roles which are in focus are related to robotic process automation (RPA), UX design, Cloud Computing, Mobility, Artificial intelligence, Big data/Analytics.
If one who is currently working in the industry aspires to shift and grow in the career, he/she has no option but to hone the skills which are relevant in 21st century.
Distance MBA in International business management
There are a lot of reasons why companies wish to expand their operations to global markets or various nations. Nation wishes to begin exporting as it has installed more manufacturing capacity than that which is necessary for national consumption. When some nations enjoy easy access to low cost raw material and labor, they are able to make the most of price arbitrage and expand into global industry.
Global marketing differs from national or domestic marketing. It’s governed by rules and regulations of the host nations i.e. nations where we would like to set up the company. Moreover global marketing have to look at what are the cultural differences between the countries and make the most of diverse cultures. Notably, for the multinational firms, things like patents, dominant cultural practices are really important aspects. Using the strong culture traits MNCs can personalize and provide unique products to various host countries.
For global business expansion, it is important that one must be aware of some of the key aspects of the host countries. In addition to cultural/religious practices, regulations and legal framework, one of the critical aspect to focus is about finance and economics. Before expansion or creating product/service offerings for host country, its state of the economy, kind of taxation for domestic and foreign companies, amount of disposable income available etc. should be studied.
A program like distance MBA in international business management covers many such aspects in details. As companies are looking for expansion globally, demand for professionals with knowledge of international business practices is increasing.
Distance MBA in Project management
In 21st Century, every business is being influenced by technologies and changes in the customer behavior. Methods of reaching customers and generating revenues are changing drastically. Companies have to find new ways of doing business and invent new business models.
These changes are not limited to only handful of sectors but are becoming visible across all industries. All sectors including building construction, Banking, Finance, logistics, healthcare etc. and the list is endless. Behind every successful growth strategy, there lies meticulously execution of projects. Companys future is dependent on success of key strategic projects and initiatives. And who drives them, a Project manager. Technology, environment, market conditions and consumer tastes are changing. Like all other things, the way of managing projects is also changing. Hence successful management of these projects would demand a completely different or modified set of skills. As a natural consequence, demand for distance MBA in project management program is increasing.
The question in your mind could be about applicability of project management knowledge across sectors. There is a good news for you. If we closely study the job descriptions: skills and responsibilities of a project manager from various sectors, there are a lot of commonalities.
The knowledge of project management processes and tools is common or same across all the industries and projects. As domain knowledge is focused on an industry, some tweaking for project management processes is inevitable. However, most of the common body of knowledge and principles can be applied across sectors, industries or projects without much change. This would serve as a boon in taking a career leap. One more advantage would be anybody with experience in one sector may be able to switch the sector for better prospects.
Demand for project management professionals is increasing as there are no enough qualified and skilled project managers. Pursuing distance MBA in project management would be a good option to prepare oneself to grow in the career by switching the industry/sector. As you will master the generic or sector agnostic skills in project management, you would be ready to take up responsibility of managing project in a different sector of your choice. Nuances in the execution related to business domain can be picked up as you start working on new project.
Data science, artificial intelligence, cloud technology, digital marketing etc. are some of the critical the 21st century job skills. And for managing projects involving such technologies would need 21st century skills in project management and/or international business management. Hence it makes perfect sense to purse these career and shift to the top gear!