How Executive MBA Prepares you to Tackle the Present & Future Business Challenges?

Spokesperson: Dr Bhanu Ranjan, Assistant Dean – Executive MBA & Associate Professor – Communications and Negotiations at SP Jain School of Global Management.

This topic needs reflection before it is addressed because the landscape of business has seen drastic developments in past five years and ongoing, resulting in challenges are from multiple fronts - the man-made wars and the biggest threat the climate change.

Our business responds according to the ecosystem and the global pandemic, and the current wars are having huge bearing on the business challenges. How can the issues around red sea, Ukraine Russia ongoing war, disputes with other parts of the world not impact our way of life. This way of life is where the terrain of business exists.

Then is the next layer, the people, who navigate in these ecosystems tackling both present and future business challenges.

Finally, is the EMBA which needs to be focusing on the needs and hence preparing them for the consequences. 

The world economy is facing, questions about the wisdom of globalization and reality of maximizing production efficiency without accounting for resilience.

The inequality is on high and so are the related issues with it.

Business is that part of this system where the impact is evident.

The EMBA with wide range of subjects for comprehensive understanding of various business functions try to bridge the solutions for our global challenges. These subjects are: 

●      Operations.

●      Marketing

●      Finance

●      Strategy

●      Entrepreneurship

●      Information Technology

●      And many more

Apart from the subjects listed above it is also pedagogy of the completing the unit which makes it very empirical in nature and it can be applied. Emergence of Artificial Intelligence has posed its own challenges too.

Let’s study the coping mechanisms through these main five areas.

1. Strategic thinking
2. Embracing innovation and technology
3. Leadership in the era of VUCA
4. Global Perspective
5. Adaptability and resilience

Under the Strategic thinking the EMBAs are equipped with ability to learn to anticipate market trends, identify opportunities, and formulate effective strategies to navigate complex business environments. This strategic acumen is crucial for staying ahead of competitors and adapting to changing market dynamics. According to data maximum research are on Artificial intelligence and sustainability, they continue to be on rise as every decision of businessman correlates with it.

Following to this comes the second area which is embracing innovation and technology.

It is the most important area to fulfil the first one as well. EMBAs embrace today's business environment which is characterized by rapid technological advancements and disruptive innovations. EMBA programs equip executives with the knowledge and tools to leverage technology effectively, drive digital transformation within their organizations, and stay ahead of industry disruptions.

This leads us to the third area of leadership and that too in the VUCA world (Volatility, Uncertainty, Change and Adaptability). This is not just about the physical nature and other pointers studied and felt in the past but also the evolution of changing trends.

Aging countries and political landscape (2024 is the year of maximum elections around various countries of the world). With Gen Z entering workforce the senior leaders are adapting to the trends of the younger generation.

The fourth one is very sensitive, with global perspective EMBAs can understand the factors impacting business processes, business products, business sense and business leadership. Exposure to understand the parameters which drives inter dependency of organisations and collaboration mindset. EMBA programs often include modules or experiences that expose executives to international markets and cultures. This global perspective enables them to understand diverse problem areas and bottlenecks.

The fifth area will never loose its importance as it brings all the four areas together and makes the path in the right direction.

Adaptability with changing landscapes in business, new policies and new regulations is the constant talk in every organisation whether it is start up or old established systems, all are on the move of technology and sustainability. Soon the day is not far when government will design new regulations shaping the new trends in business especially with AI and ESG and will make it mandatory.

 Resilience and Ethics will be the game changer in the present days and also in the future. In an era where corporate ethics and social responsibility are increasingly scrutinized, EMBA programs emphasize the importance of ethical leadership and decision-making. Executives learn to navigate ethical dilemmas, uphold integrity, and build trust with stakeholders, which are essential for long-term business success.

In summary, an Executive MBA prepares professionals to tackle present and future business challenges by providing them with a comprehensive skill set, strategic mindset, global perspective, and a strong network of peers and mentors. This combination empowers executives to lead effectively, drive innovation, and steer their organizations towards sustainable growth in dynamic and competitive environments.