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MBA 4.0: What students need to succeed in the age of fourth industrial revolution

Interestingly, therefore, MBA 4.0 is first making an appearance catering to the built environment sector.

By Amol Shimpi  

The unprecedented sway of technology has mandated a fresh Industrial Revolution, the Fourth, driven by the convergence of digital, biological and physical innovations. Throughout the first two industrial revolutions, it was the innovative curricula that played a role in transforming the technical and managerial capacities of workers. Now, the education system needs to step up again to support the Fourth Industrial Revolution, and this means preparing students who possess techno-managerial skills.

Most premier MBA programmes are now introducing modules that include AI, robotics, genomics, and so on through coursework, case studies, seminars and conferences. The goal is to help students learn the workings of newer career avenues, about new integrated technologies, advantages they can deliver, and the challenges and opportunities for a company that deploys them.

Built environment is an industry that offers students several novel career opportunities, and there are courses such as MBA in Real Estate & Urban Infrastructure, MBA in Construction Project Management, MBA in Construction Economics & Quantity Surveying, and MBA in Infrastructure Management. The growth of built environment in the current industrial and economic scenario has been exponential, leading to transformation in the entire system covering all business functions like human resources, manufacturing, sales and marketing, services, operations, finance and much more.

Interestingly, therefore, MBA 4.0 is first making an appearance catering to the built environment sector. Specialised courses that fall under MBA 4.0 help develop students’ strategic thinking, efficiency, managing skills and crisis management. And these are the skills needed the most when implementing Industry 4.0, or the Fourth Industrial Revolution. In 2020 and beyond, we expect to see more and more MBA courses that have a techno-managerial content-a curriculum that integrates theory and applied skills-that prepare students for Industry 4.0.

The author is associate dean & director, RICS School of Built Environment, Amity University, Mumbai

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Source: Financial Express