Dynamics of Business Education in the 21st CenturyPosts by JSB
Dynamics of Business Education explained comprehensively at JSB session for PGDM Batch 2021-23
To make the most of business education, students must know the course of its evolution – how it’s changing and transforming itself in the 21st century. This precisely was the topic of the session organized on June 30 by Jaipuria School of Business for the students of PGDM Batch 2021-23 as a part of the school’s Virtual Pre-Orientation Programme called PRARAMBH – JOURNEY TO EXCELLENCE.
The session, titled ‘Dynamics of Business Education in the 21st Century, was led by Mr. Shishir Vyas, Chief Client Experience & Digitization Officer, Traydstream, London, United Kingdom.
At the outset, Mr. Vyas laid out the objectives of business education. He said the aim of business education is to provide a continuous program of planned learning experience to students. This experience is designed to equip individuals to effectively fulfill their roles as workers, consumers, and citizens. Business education, said Mr. Vyas, opens new avenues for students. It offers them opportunities to carve out a career even in fields other than business by educating them with the necessary knowledge and skills that are needed for them to function effectively and efficiently.
According to Mr. Vyas, the driving force behind the evolution of business education is the world of business itself. Businesses need to evolve with time, and so does business education. Every few years, new sectors are emerging and disrupting established businesses. Customer expectations too are changing drastically and causing a spillover change in businesses. The Industrial Revolution is increasingly being complemented by the Information Revolution.
Speaking of the Industrial Revolution, Mr. Vyas said a transformation is underway from small-scale, relatively localized production based on individual skills and craftsmanship by artisans to large-scale, centralized production systems that incorporate heavy, mechanized machinery and a large number of wage workers. This transformation is marked by a series of technological breakthroughs which are part of the Information Revolution. Developments in electronics and computer technologies, dramatic changes in telecommunications, and Artificial Intelligence are transforming the business landscape like never before.
This rapid transformation, said Mr. Vyas, presents a number of challenges for educators and opportunities for learners. The educators need to clearly distinguish between hard skills and soft skills and realize the importance of both. They need to leverage technology as an enabler in pedagogy and focus more on personalized teaching to optimize learning outcomes among students.
For the students of management education, this transformation holds out a host of opportunities and avenues for learning. It will enrich classroom learning and peer learning by expanding the coverage of the subject matter. Technology will help students in leveraging external online learning platforms, namely interactive learning tools, and audio-visual mediums. The focus will shift from chalk-talk methods to hands-on learning through workshops, projects, papers, and seminars.
Mr. Vyas added that in the emerging business environment, the spotlight is going to be on soft skills as well. He defined soft skill as a skill that one needs in the workplace but isn’t offered as a course at college.
He said that business education needs to reinvent itself in the 21st century with added emphasis on collaboration, teamwork, communication, problem-solving (which is a blend of analytical and critical thinking and innovation), self-direction (which involves prioritization and time management) and leadership adaptability and flexibility.
The session saw enthusiastic participation from the students of PDGM Batch 2021-23 of Jaipuria School of Business. It helped the students to have realistic expectations from the PGDM programme and inspired them towards the goals of personal development and expertise in the specialization of their choice.
Jaipuria School of Business is a premier B-School in Delhi/NCR region and is backed by a 76-year-long legacy of Seth Anandram Jaipuria Group of Educational Institutions. The institute has a strong corporate connect that helps students get an in-depth understanding of the present corporate realities.
Admissions for the PGDM Batch 2021-23 are presently open and even scholarships are available for deserving candidates.