How business education is changing to align with the demands of the modern world

How business education is changing to align with the demands of the modern world

In India, economic reforms have impacted business education and made it more industry focused, as programmes needed to adapt and change to prepare students for the job market. When it comes to ensuring that education adapts to the shifting demands of businesses, B-Schools began to mandate internships to give students an idea of the real-world.

Further, the growth of new industries like analytics, e-commerce and information technology required modifications to the curricula, leading to the introduction of new-age specialisations such as Business Analytics to address the increased demand for data-driven decision making.

The introduction of the Goods and Services Tax (GST) focussed attention on the need for financial and tax knowledge. B-Schools responded by introducing courses on Investment Banking, Fintech and Financial Risk Management.

Courses on digital strategy, cybersecurity, machine learning and Artificial Intelligence (AI) and their applications in business are also being introduced as industries become more dependent on digital technologies. Students who are familiar and adept with these advances are better positioned to innovate and handle the challenges of the digital age.

The growing emphasis on sustainability and environmental impact has seen a rise in Environment, Social and Governance (ESG) Reporting in company practices. This has led to the creation of courses such as Business Ethics and Sustainability, ESG Reporting and Risk Analysis.

The economic reforms also led to a rise in entrepreneurship. Joining this trend, B-Schools began to establish specialised Entrepreneurship Development Cells to promote a culture of innovation and offer financial help, networking opportunities, and mentorship to those with potential and talent.

In order to stay attuned to market developments and offer students insights into current practices and trends, B-Schools are also organising guest lectures, industry visits, and projects that allow students to get practical information and skills that are immediately transferable to the real world.