"Is Tesla a car or electronic robot or fuel saving device? - You may say it is all of them. Who can create such symbols of the future today? Only cross- functional technology managers can create revolutionary, game-changing innovations like Tesla"
So you are an engineer. Or soon going to be one. These are some of the challenges and roadblocks you must be facing in your professional journey.
1. The dire state of fulfilling employment opportunities post placement.
2. Most engineering roles in industries are working in a blind zone technologically.
3. The process of promotions and appraisals is complex and far from transparent.
4. Disruptive tech is moving fast – how can we map it to business and monetization?
5. Curriculum taught in universities is not relevant to industry trends and demands.
Sounds familiar? Wait, there’s more to the story –
“72% of companies across all industries are going through digital transformation & hence what we need are leaders and managers who can understand the context of customer, technology and business.” – Amit Phadnis, Office of CTO, GE Healthcare
What is the way out? Thousands think a generic MBA is the answer. But is it really?
A general MBA offers the same age-old curriculum which has lost its relevance in the market a long time ago. Out of the 5,500 B-schools in the country thousands graduate with an MBA but only 7 % turn out to be employable according to a study conducted by ASSOCHAM. It’s time to rethink the generic MBA and instead opt for something much more specialised.
Traditional MBAs focus on the three verticals of marketing, finance and HR but there is an increasing popularity in other MBAs beyond the golden three. The tech space in particular is booming. This is supported by the Global Information Security Workforce Study (GISWS), 2017, which predicted that about 1.8 million IT positions will remain vacant by 2022. The number has already increased by about 20% from the anticipated 1.5 million in a span of just two years. What does this mean for freshly graduating engineers and generic MBA holders? There is a skill gap, as their curriculum and current skill set is not enough to fetch them the jobs that the IT revolution is creating.
Progressive institutes like University of California, Berkeley, Stanford University and UC Davis Graduate School of Management are offering Technology Management programs to produce new age digital managers who have an understanding of both technology and business operations.
The need of the hour is to elevate from coding to managing technology and mastering the applications of Data Science.
Technology Management is the new cross functional discipline driven by Silicon Valley. The Institute of Product Leadership is proud to pioneer the course – ‘MBA in Technology Management’, in India, to be hosted at the award – winning 40 acre campus of MIT- ADT University, Pune. Today’s managers are expected to understand the big picture and converse with the latest trends and technology so that they can go beyond managing people to managing technology, managing innovation and managing process.
MBA in Technology Management/ MBA in Data Science vs. Generic MBA
A general MBA offers the same age-old curriculum which is gradually losing its relevance in the market. Out of the 5,500 B-schools in the country thousands graduate with an MBA but only 7 % turn out to be employable according to a study conducted by ASSOCHAM. MBA in Technology Management and an MBA in Data Science provides new age skills along with the general understanding of the business, management, and leadership. Technology Management focuses on cross-functional skills such as IT management and leadership. It helps in acquiring demonstrable abilities which are relevant across the globe. The curriculum also offers certifications on the latest technology, integrated with the course, which keeps professionals a step ahead of their counterparts who have a generic MBA or a simple engineering degree.
The silos between the IT department and business units is a perennial issue faced by many companies in recent times. To overcome the lags in decision making, an agile environment through improved interaction between IT and business has become a present-day necessity for organizational success. To achieve this, the business leaders will have to “understand and capture IT’s strategic value”. To become a digital-ready IT professional one has to work closely with all other parts of the business. The combined expertise of the cross-functional domain is required by business leaders to understand the potential as well as limitations of IT. The degree in Technology Management is, therefore, gaining popularity among students, professionals and companies alike.
What is the industry looking for?
Atul Batra, CTO, Manthan Systems and industry coach at Institute of Product Leadership stated,
“The industry wants to hire professionals who not only understand the depth of data science but can leverage that to business outcomes.”
Beyond the general skills of quick decision making, timed reactions, and solid central steering, companies today need the digital leaders who possess the capabilities of integrating the engineering concepts with the various functional and operational aspects of a business. MBA in Technology Management inculcates leadership skills in working professionals as well as fresh engineering graduates. It fosters an “executive-level perspective” and an impressive portfolio for the management of various business disciplines.
In a world where economic and social advancement is increasingly dependent on integrating technology with business, tech management programmes provide the opportunity to make a career with a difference. MBA in Technology Management is designed to create digital managers with a prospective career as Agile Product Managers, Data Analysts, Engineering Leads, Business Analysts, Project Managers, Cloud & DevOps Architects, and Digital Marketing Managers who are high in demand in the era of digital transformation.