Is Traditional MBA Losing its Sheen?
Recently, after five years of declining enrollment of its traditional MBA program, Wake Forest University (North Carolina) dropped the program, and instead, shifted focus to an area with greater demand—those MBA candidates who want to study and earn a pay check simultaneously. This decision was made after taking into consideration the needs of the market of the students. The major reasons for the failure of traditional MBA in business environment today are: • The business models and information content in the traditional MBA courses may be less useful since they are frequently outdated or too theoretical. • The participants in Executive MBA Program do not need to stop working to earn their MBA degrees. • It also allows participants to maintain their current job and place of residence while enrolled in our program. • In the Executive MBA curriculum the focus is more on general management and soft skills. These are the reasons why a traditional MBA has started taking a backseat not only in India but across the globe while on the other hand, an executive MBA has gained momentum in past few years in the business environment.
So what does an MBA program need today?
• An MBA should be emphasizing more on soft skills as well as leadership skills where an effective decision can be taken in uncertain and any ambiguous business environment.
• The program should be designed in such a way that thought process needs to be more integrated, systematic and coupled with an emotional intelligence.
• Having an insight into industry segment / technology segment / customer segment, which participant has been getting exposed to.
• The program needs to be more “Relevant & Experiential”. Executive MBA offers a cutting edge to the working professionals and provides niche specializations that help executives to know in and out about their specific domains and becoming more popular than traditional MBA these days.