How to choose the best MBA for an ever-changing world | training | Economie

Digitization, remote work, mixed environments, interpersonal skills, and even a new relationship with workers are just some of the changes that occurred two years into the pandemic; A social, economic and health crisis that has had a noticeable impact both in the world of business and academia: “We cannot predict the future (…), but we can assure you that technology has changed jobs, businesses and even sectors.” says Borja Adaneiro, co-founder and CEO of ThePower School Business School, the skills we have worked with and taught throughout our careers are less and less modified for what is required in a world where change is the only constant.Preparing students for a work environment characterized by unprecedented flexibility and fluidity is, in particular, one of the main lines of the various MSc degrees in Management Business (or MBA) offered in person, hybrid or Online.

“We have to recognize that the future of work has already arrived for many skilled workers. Digitalization and telecommuting are increasingly being enforced, and there is concern for employee well-being,” says Louis Vives, Vice Dean of Programs at Esade School of Business. He adds that transformation means assigning a new role to offices, so that they become spaces that foster collaboration, learning and innovation. It is about “the ability to generate a spirit of community and belonging in a distributed context, allowing to obtain maximum productivity thanks to digital tools.”

Which is that COVID-19 has not only caused a series of structural changes whose significance, by the way, is starting to fade little by little as they gradually return to face-to-face confrontation. It has also brought about a fundamental shift in worker motivation, as Norman Curtis, Dean of Programs at IE Business School notes, “The biggest change is students’ search for purpose. Increasingly, students want to work for a company or organization that aligns with their values, while aspects of Others that have traditionally been large motivators (such as position or reward) lose their importance, in relative terms.”

Featured trends in 2022

In the current context, prestigious MBA studies will continue to be relevant (Online or hybrid) that not only enhance the skills needed to be an entrepreneur and innovator, but also teach collaborative leadership and favor the development of a series of soft skills (or soft skills) which the labor market already requires, and whose importance has only increased: critical and analytical thinking, ability to solve problems and self-management, active learning, communication skills, empathy … “It is important to understand that knowledge always ends up being outdated, while skills allow us to Navigate complex environments and be flexible,” says Vives.

One of the growing demands among MBA program participants is to develop the skills necessary to innovate and undertake, not only to be able to work in already incorporated companies, but also to create their own. For this reason, says Professor Esade, “many business schools are thinking about how to develop ecosystems that support innovation and entrepreneurship, from idea development to the search for funding, by working angle also venture capital”.

But there is also another series of trends worth watching: more specialization within the MBA (by concentration or tracks)greater importance of sustainability in the curriculum, greater application in real projects and duration as a differentiation factor (with a 10- or 11-month MBA) and its impact on ROI [el retorno de la inversión, por sus siglas en inglés]. In addition, there is a growing need for students to be trained in wellness, so that they have the appropriate tools to manage their physical and mental health. So [en IE] Four years ago we created Health, Wellness and Happiness Center, Which offers seminars, activities and courses on Vitality, Resilience, Caring, Empathy or Mindfulness fullCurtis says.

Challenges

Among the biggest challenges facing the labor market in the short and medium term is the urgent need to resolve the imbalance between the current skills of workers and the skills in demand, the digital transformation and the increase of companies, from the features of digital and technology, from big data until the computer science. But, in addition, and in the longer term, “the need to relocate (with the need for retraining) a significant proportion of workers without digital skills who occupy jobs that will be largely automated,” one of the founders of ThePowerMBA; The importance of positive leadership and the role of continuous learning (lifelong learning).

“Companies will have to reinvent professional profiles and bring them closer to the demands of the immediate future, and for this we will have to learn both new skills that are adapted to current positions. (Skills development)How to get others for new jobs (refine). Adanero also draws attention to a new phenomenon: the increasing difficulties of employers in hiring and retaining. Previously, there were many companies that people fought to join, but now this is not the case. Talented people generally look for a culture that is dynamic, close and flexible.”

Choosing the most suitable MBA

They may look the same, but not all MBAs are the same, which is why it is advisable to do some research before choosing one in particular. Earning an MBA from an institution of proven standing can help make a difference in career, and allow students to “develop a comprehensive vision and skills for better management not only in the current context, but above all in the world we aspire to create”, reflects Vives . Not only can a good MBA open doors to highly competitive sectors like consulting and investment banking, it can also increase employment by 90% and cause salaries to increase by about 32.9%, according to data from consulting firm Hamilton.

The first thing, however, is to be clear about the goals to be achieved and the time that can be devoted to them, in order to choose a full-time master’s degree. (full-time MBA) or partial (Executive MBA). Meanwhile, when choosing an educational center, various factors play a role. It is important to look at the prestige of an institution in the commercial and academic sphere, both nationally and internationally (a factor that will depend on the quality of the faculty, the international accreditations of its programs, the content and the form of teaching (face-to-face, Online also blended); pedagogical model and corporate culture; Connecting to the world of business and the services the school offers, such as a job bank or a network Alumni Other student profiles and the flexibility of a master’s degree are, in addition, other aspects to consider.

Now, face to face Online? It depends on each individual’s circumstances, because the quality of training will depend more on the institution and college, and not on the format itself. “Hybrid formats offer the potential to extract the best from face-to-face and distance learning, although they require more effort (with simultaneous temporary assignment) and physical travel to attend classes,” explains Vives.

Cost, of course, is a factor that must also be taken into account, given the varying programs, services and prices: tuition fees start from 585 euros for a master’s degree Online From ThePowerMBA up to more than 120,000 euros Global Executive MBA From IESE, a face-to-face program that takes you over 17 months to six cities on three different continents. Master’s degree option Online Costs or hybrids can often reduce costs and provide a greater degree of flexibility, especially if we need to combine them with other careers or academic careers. So, for example, Executive Masters in Entrepreneurship and Innovation, From UOC, it costs 8,965 euros, while Executive Master in Finance (From Esade) Rise to 23,000. Both squads led the last ranking FSO 2021And It includes the best institutions that offer master’s degrees Online Focused on ADE and Spanish-speaking. On the other hand, it is important to remember that every business school has its own system of scholarships and financial aid, based on academic or professional merit.

Can you get a 15-minute MBA a day?

According to Adaniro, co-founder of ThePower Business School, yes. The MBA at this school offers two versions (75 and 120 hours, the latter with digital marketing) structured in sessions of only 15 minutes per day. The content, Adanero explains, is the same as that of a master’s degree from a traditional business school, but is explained in a much more effective and practical way: “50% of classes are theoretical; 25% present success stories and another 25% work on case analysis of companies changing the world. They are reviewed. mistakes they made in the past and study the strategies that led to their success, so they can repeat them.

“We believe that learning should be incorporated into your daily routine, not the other way around. Adanero asks why should you quit your job or set aside your life for two years?” Also, it has been scientifically proven that your brain stops at a certain point. So why not learn in small grains?

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