BE A TRANSFORMATIVE LEADER
Management institutions globally are facing major challenges today, which are a function of tectonic shifts in the techno-socio-economic landscape of the world; and the digital revolution occurring in Industry 4.0, ushering in the shift from an industrial to a knowledge economy.
Today, Industry 4.0, an increasingly-used term to collectively represent businesses driven by Artificial Intelligence, Machine Learning, Automation, Robotics, Cloud Computing, IoT technologies, among others is creating new kinds of job roles whilst simultaneously rendering redundant, if not irrelevant, a large slice of the conventional workforce. The question is, how should educational institutions respond to this changing nature of work in terms of new skill sets? What kind of education will equip the students to remain relevant in the future?
IFIM Business School, Bengaluru, in association with National Human Resources Development Network (NHRDN), undertook an initiative to identify the relevant skill sets for Industry 4.0. The findings revealed that the future professionals would be those who are a combination of a liberal education having a wide breadth of knowledge across multiple disciplines, combined with in-depth knowledge and skills of a specialised area. According to the study, successful future professionals will be ‘T’ shape professionals that combine both width of a liberal framework of education, and depth in specialised areas of one’s profession.
The study also pointed out that technological disruptions may result in professionals finding themselves becoming ‘irrelevant’. Hence, ‘learning to learn’ or learning orientation will be the key for future professionals to remain relevant.
This can be achieved only when educational institutions take major initiatives in investing in an education that will prepare students for the “future of work.” This will entail educational institutions to invest in education that prepares the graduates to embrace change and be life-long learners. Institutions will require a rebooting of their curriculum, pedagogy of teaching-learning and the faculty. The focus of the Institutions will be to groom Transformative Leaders, who will be playing the role of Change Agents for the companies in the future.
The first change will have to be the curriculum. Instead of a one-size-fits-all approach, the curriculum should facilitate the process of ‘discovery’ — encouraging ‘exploration’ and ‘experimentation’. Students should be able to customize their learning pathways depending on their style, pace, and learning orientation.
The second big change will be to facilitate ‘holistic development’ and ‘holistic grooming’ of the students. As the “100-year life” becomes a reality, majority of that life is anticipated to be spent working. Students will need to be exposed to multiple disciplines across humanities, performing arts, design, language, science including natural sciences covering all the eight dimensions of multiple intelligences. This exposure will enable a student to discover one’s potential. A holistically developed graduate is expected to be prepared to embrace change with an ability to respond effectively to changing career options at different stages of one’s life.
As data becomes the new oil, the third change will be the integration of technology across courses. Today, AI and Big Data are being used across diverse professions, ranging from medical sciences and healthcare to sports and entertainment. Institutions will need to develop amongst their graduates an appreciation of data integration with their areas of professional expertise.
In the years ahead, most of the repetitive tasks and easily deciphered problems will be handled by machines. Human beings will be more involved in decision-making and imagining the future possibilities. The pedagogy of teaching-learning will need to move away from information dissemination to imagining the future. A typical in-class case discussion will no more be about ‘what happened?’ but will be about ‘what can happen?’. This will imply a change both in the content and in the delivery. Institutions will need to travel that extra mile to re-ignite the imagination ability of their students, take an approach to learning that can facilitate self-learning and make students learn ‘how to learn’.
In a country like India, where exists the issue of social inequality, our institutions need to make students socially responsible and be sensitive to the issues of distributive justice. No professional will be able to function in the future without an understanding of the impact of their actions on the environment and society. Interventions that expose students to the issues of social reality, including the SDGs (UN Sustainable Development Goals), will be a requirement in the planning of the curriculum for the future.
The essence of ‘leadership development’ lies in ‘self-management’ and ‘self-development’. The findings of the IFIM-NHRDN survey clearly indicated ‘wellness’ and ‘fitness’ as integral elements of managing one-self. As institutions prepare graduates for the ‘Future of Work’, there will be an urgent need to integrate ‘wellness’ and ‘fitness’ as part of the required curriculum, particularly in the post Covid era.
In today’s ever-evolving world, there is a need to develop an active interface between academia and practice to create the virtuous cycle of value creation involving all the three stakeholders: students, faculty, and practice. Implementation of curriculum for MBA 4.0 would depend on the active participation of all the stakeholders. For instance, the careful and thoughtful intervention of practitioners at important junctures in the curriculum is much needed to achieve a fit between their needs and skills imparted.
However, this is easier said than done. Tomorrow’s successful institutions will be those that can facilitate the process of ‘discovery,’ who can inculcate in graduates responsibility towards self, environment and society, who can combine the apparent contradictions of ‘professional’ skills with a ‘liberal’ foundation.
The challenge in India is that the majority of the internationally accredited (AACSB and EQUIS) MBA programs are offered by single-discipline institutions. The good news is, that some of the forward thinking AACSB accredited institutions have taken the plunge to address the gap to transform into a multi-disciplinary new-age university. The launch of MBA 4.0, India’s first liberal-professional MBA, by IFIM Business School, the 6th B-School accredited by AACSB in India, is a step in that direction.
The program will be offered from its Greater Mumbai campus at Vijaybhoomi University, which attempts to prepare its graduates for the future and positions itself as ‘India’s first liberal professional university.’ Peter Drucker had said, ‘Management is a Liberal Art’; in today’s context, this statement has become more relevant than ever before.
Some of the Liberal professionals of the future will be like an Artist specializing in Competition Law; A Musician as a Sales Professional in the Digital Media; A Poet as an Analyst. A Naturist as a Fintech professional; A Chartered Accountant as a Communication Designer; A Historian as Digital Marketer. This will be possible with the design of a completely Liberal Professional Curriculum Framework and a great faculty composition with an unmatched mix of an Artist, Sociologist, Anthropologist, Scientist, Linguistic, , Mathematician, Lawyer, Theatre Artist, Trekker, Techie, Management Graduates, Designer, Film Maker, Engineer and Musician.
MBA 4.0 is the First Multicity and Multi – Disciplinary two-year liberal professional MBA program in India, provided by an AACSB accredited institution. The program uses the liberal-professional framework of education and oﬀers a choice of new age specialisations to groom ‘T’ shape professional aligned to Industry 4.0. The liberal arts component in MBA 4.0 prepares our students to develop a multi-disciplinary perspective while simultaneous exposure to deep knowledge and skills in a specialised area – Curriculum 4.0 aligned to Industry 4.0. The program provides exposure to two cities with two distinct experiences (Commercial capital, Mumbai and Start-up capital, Bangalore). The program focusses on Holistic Grooming of participants through award winning practice initiatives and New Age Specializations like Digital Sales and Marketing, Financial Markets and FinTech, Analytics & Digital Business, Management of Communication Design and Competition Law & Market Regulations.
Students will have the option of opting for International Super Specialization Programs with the following partner institutions:
|S.No.||Partner University||Super Specialization|
|1||Darden School of Business, University of Virginia||MarTech|
|2||ESCP, London||FinTech and Financial Analysis/ Digital Transformation|
|3||McComb's Business School, UT, Austin,||Big Data Analysis and Block Chain|
The list of publication by IFIM Business School Faculty over the past five years are given below:
|S.No.||Category||Role at Graduation||Role Post MBA 4.0||Benefits|
|1||Fashion Design Graduates from Institutes like MIT, Pune, Pearl Academy, WLCI School of Design, etc||Merchandiser, textile designer, Fashion Consultant, knitwear designer||Senior Designer, Design Principal, Site Merchandiser, Fashion Manager||“FastTrack your career with a Giant Leap, by enrolling in our unique MBA 4.0 Liberal and Professional Program along with a specialization in Communication Design management and Digital Sales and Marketing”||2||LAW Graduates from Institutes like GNLU, Symbiosis Law School, NLU Jodhpur, etc||Legal Consultants. Trainees, Practician, Legal Experts||Corporate Lawyer, In – House Corporate Legal Counsellors, Legal Advisors||“Get an entry into the world of Corporate Law as a fancied Legal Advisor / Counsellor or a renowned corporate lawyer with our MBA 4.0 Liberal and professional Program along with a specialization in Competition Law and Market regulations”||3||CA/CS/B.COM||Auditor, Accountant, Company Secretary||Actuary, Chief Financial Analyst, Compliance Expert, Quantitative Analyst, Data Specialist||“Expand you career prospects by rediscovering your Financial brilliance with our unique MBA 4.0 Liberal and Professional Program along with a specialization in Communication Design and FinTech”||4||Fine Arts / Performing Arts from Universities like LPU, Fine Arts College for Women, Avantika University, etc.||Corporate Trainee, Art Directors, Illustrators, Theatre Specialist, Sculptor, Therapists||HR / Cross Cultural Manager, Event Manager, Consultants, Creative Associates||“Innovation and creativity is what defines you. Utilise it in the corporate world to get recognised globally and rewarded by enrolling in our very unique MBA 4.0 Liberal and Professional Program along with a specialization in Communication Design and Digital Sales and Marketing”||5||Media / Journalism from Universities like Parul University, Woxsen School, etc.||Editors, Journalists, Interns, Trainees||Media Manager, Media Planner, Media Strategist, Marketing Analyst, Digital Media Analyst, Corporate Communications, Channel heads||“Take a quantum leap and secure a leadership position in the field of Media and Journalism with our unique MBA 4.0 Liberal and Professional program along with a specialization in Communication Design and Digital Sales & Marketing”||6||Music & Film Making from Institutes like Whistle Wood, Kurukshetra University, GD Goenka University||Specialists, Consultants, Editors, Trainees, Directors, etc||Entertainment Strategist, Industry Analyst, Consultant, Studio Executives, Marketing and Publicity, PR, HR / Talent Acquisition.||“Start your Entertainment career with a creative boost and be a CAT in this rat race by enrolling in our unique MBA 4.0 Liberal and professional program with a specialization in Digital Business Analytic and Communication Design”||7||Communication Design Professionals from Institutes like Pearl Academy, UPES School of Design, NMIMS School of Design, etc.||Design Consultants, design editors, design engineers, creators,||Entertainment Strategist, Industry Analyst, Consultant, Studio Executives, Marketing and Publicity, PR, HR / Talent Acquisition, Content Writers||“Boost your passion with a wide range of career opportunities and rediscover your true self by enrolling in our unique MBA 4.0 Liberal and Professional program with a specialization in Communication Design and Digital Business Analytics”||8||BSc Graduates from Universities like LPU, SRM University, KIIT, etc.||Scientists, Physician Assistant, Software Developer, Network Administrators, Program Designers, Software testing.||Digital Marketing, Marketing Analysts, Business Analyst.||“Gift your career a smooth journey with a wide variety of options and opportunity by enrolling for our MBA 4.0 Liberal and Professional program along with a specialization in Digital Business Analytics and Digital Sales and Marketing”||9||Social Sciences & Humanities from Universities like LPU, Amity University, Chandigarh University, etc.||Writers, Editors, Development Officers, NGO Social Welfare Officers||HR Analyst, Business Analyst, Administrators, Operations Manager, Content Writers, Communication Officers etc.||“Ignite your passion with a wide range of career opportunities and rediscover your true self by enrolling in our unique MBA 4.0 Liberal and Professional program with a specialization in Communication Design and Digital Business Analytics”|
Delivered across two campuses under the leadership of a program head who will travel across campuses along with the students.
Selection Process: IFIM’s much famed three stage / multiple stakeholder feedback based admission process will be followed
*Fees might vary based on the number of credits chosen by students