In today’s fast-paced world, digitalization is transforming global operations. Businesses are automating workflows to upscale productivity levels while consumers are taking advantage of online shopping. With these changing market dynamics, the educational demands are also evolving. Conventional computer and critical thinking skills are no longer enough to thrive in this progressive world. Similarly, traditional degree programs won’t help students stand out in the crowd.
Any idea how to keep pace in this new decade? Business schools have to step into the market with innovative specialized programs to equip students with advanced skills. They can upgrade the existing programs with new curriculums and education policies. Finance specializations can influence learning with blockchain and FinTech evolutions. Likewise, marketing can integrate analytics to help people make the most out of big data.
Besides this, business schools can introduce tech-related specializations to help students tackle technology effectively. In addition to having high demand, proficient tech skills can be a game-changer in the corporate world. In case you don’t know much about advanced degree programs, we have got you all covered. Here we are unfolding seven trending specializations for business schools in the new decade.
1. INFORMATION TECHNOLOGY
With new job openings and changing roles, many people want to pursue a career in information technology. They want to explore the role of technology in global markets and develop appropriate strategies to make their business thrive. After all, IT has developed into a strategic function across all levels of the organization. Business leaders can use a virtual dashboard to keep tabs on output. Managers generate digital performance appraisals through productivity tools.
As technological dependence will continue to increase, many people opt for the MBA technology management online programs. It teaches how to leverage technology, explore convolutions of big data, and make industry predictions. Students also get to learn about cybersecurity applications, AI-enabled technologies, and other specialized courses. Business schools can launch similar programs to equip the upcoming generation with emerging database technologies.
For most people, finance is a fancy name for describing money-related matters. However, finance is a broad term that describes capital markets, credit, investments, money, and debt. It gives an oversight of assets, liabilities, and stock markets to better understand financial systems. Nowadays, every organization needs a financial analyst to strengthen its financial position. And with a brighter job outlook, more students are taking finance as their specialization.
Almost every business school offers this specialization, but not many include emerging finance trends in the curriculum. If you want your school to outshine competitors, update the course outline. You can familiarize students with financial technology such as blockchain, crypto-currencies, digital-only banks, etc. Likewise, you can make students understand the role of artificial intelligence in finance to upscale businesses’ financial strategies.
3. INTERNATIONAL MANAGEMENT
Many people have the ambition to travel the world and work globally. In addition to offering more exposure, they get to enjoy higher salaries. As a result, international management programs are becoming increasingly popular. Sooner or later, every business school would have to introduce this specialized program to accommodate students. It aids students in developing an understanding of how legislation differs around the world.
Moreover, they learn about cultural differences to make their place in the global job markets. These programs also equip students with business skills within an international context. Hence, they get to understand how operations can differ between countries. Therefore, open the employment doors for international recruitment and help students excel in their careers.
4. BUSINESS ANALYTICS
Everything happens differently in today’s data-driven world. Marketers analyze trends before launching campaigns, while business leaders discern market conditions before making any investments. In addition to decreasing the risk of losses, it helps businesses make more apt decisions. Nevertheless, utilizing data and analyzing it is no easy feat. It requires competent analytical skills and know-how of analytical tools.
So, why not introduce a ‘business analytics’ specialization? You can teach students how to use descriptive analytics and understand what is happening in the organization. Similarly, make them learn about applied statistical analysis, predictive modeling, and informatics to expand their knowledge pool. With such a specialized degree, you can give students real-time exposure while working on analytical tools.
Marketing is one of the most enthusing career fields. It combines different responsibilities like communication, problem-solving, and promotional strategies. However, marketing is no longer about brand recognition and sales messages. In the 21st century, marketers are putting efforts to turn customers into corporate advocates. It is about understanding products, creating brands, and improving customer experiences.
These innovations are encouraging people to study marketing and explore its different facets. From digital marketing, analytics, content management, and virtual advertisements – marketing is an ever-growing field. Hence, every business school should have a specialized marketing degree with an updated curriculum to captivate more students.
The idea of corporate slaves is fading away as millennials step into the labor force. They believe in independence and autonomy in the workplace instead of being accountable to anyone. As a result, most of them are crawling into the entrepreneurship world. And since passion and capital are not enough to sail the boat, millennials are looking forward to specialized entrepreneurship degrees. Hence, business schools should offer advanced entrepreneurial programs.
They can help students develop the knowledge and skills to launch a successful start-up. Likewise, they would focus on what challenges businesses face and techniques to overcome them. Students can benefit from business development and necessary management experience. They would also learn the skills needed to pitch ideas and secure funding for their venture.
7. OPERATIONS MANAGEMENT
Unlike technical specializations, operations management is about managing day-to-day operations and ensuring they are strategically thorough. These days, companies are quite particular about their operations as they want everything to happen in a certain way. From allocating budget, maximizing profits to implementing cost-cutting measures – every initiative requires effective management.
Therefore, operations management could be an excellent specialization for people who want to take up managerial roles in organizations. Although this specialization is still in its infancy, business schools can get ahead of the curve and introduce this program. The curriculum would include managerial roles and responsibilities, consumer research, quality assurance, etc. Precisely, it would equip students with multiple skills that they will need to manage operations in the corporate world.
The global dynamics are changing rapidly. You would come across new regulations, unique market trends, and incredible technological evolutions, increasing the demand for advanced skills and knowledge. Hence, to upgrade skills, people turn to higher education and advanced degree programs. Business schools can offer multiple specializations to accommodate individuals with different interests. From technology, marketing to finance, various domains are trending today, and professionals are coming forward with their marvels.