How do management institutes help in boosting employment

By Daviender Narang

Economy is always in the need of trained management professionals to cater to the need of the dynamic paradigm of industry. The survival in today’s ultra-competitive world has become very taxing for the organisations. The need of the managers who can face this competitive scenario along with anticipating the changes that are going to happen in near future is high. This has given a rise to the need of imparting business education to the students. For any economy which is developing in nature, there is an indispensable need of trained professionals.

In an economy like India, the need of individuals who can develop new ideas and give back to the society is immense. Management institutes endow the students with a high-flying career making the individuals worthy of a sustainable career. Management Institutes are considered as the primary bodies that equip the students with the appropriate skills required in the job market today. Learning has always been critical at every age. Ranging from the freshers who are getting ready to enter in the job market to the individuals who are already serving the job market and require upskilling and reskilling, both the needs are solved by the management institutes. Since the business environment is dynamic and extremely competitive the need for management education has grown across the years.

Management institutes across the world have been playing a pivotal role in boosting the employment, they train the management professionals to be fit in the industry.

Management institutes have been facilitating in the following manner:

Keeping the management graduates ahead of the curve

Students who are undertaking a management course get an ample amount of exposure facilitating them to understand the challenges faced by the business world today. Domain-specific certification along with the university curriculum helps in developing expertise in the area of specialization of the students. Management education opens up multiple career options by making the students industry ready, especially for the industries that are booming and have ample employment opportunities for management graduates. The private sector offers various opportunities in various sectors like banking, financial services and insurance (BFSI), healthcare, analytics, real estate, fast-moving consumer goods (FMCG), paints and chemicals, construction, pharmaceuticals, IT/ITES and many more. By training the individuals for the industry, management institutes boost the fitment of the students in the industries which are in need of the right talent.

Reducing the skill gap

Post industry 4.0 the skills that are required to work in the industry have witnessed a paradigm shift. To ensure that there is no skill gap, a digital skilling ecosystem is required. Management education supports in lessening the skill gap in the economy boosting the employment. Management institutes understands and promote the industry-academia collaboration, where the industry collaborates with academia in order to train the students for the industry. The individual who are already dealing with the challenges of the industry very well know and understand the industry dynamics. Getting training from the individuals working in the industry and facing everyday challenges is extremely important. Many institutes have included an element of industry exposure to promote the industry readiness of the individuals. Other than that, industry mentorship has also been initiated by the management institutes to speed up the skill development. The institutes have also undertaken the inclusion of projects that will promote negotiation, interpersonal skills, communication skills and team building strengthening the work readiness of the management graduates further boosting the probability of their employment.

Developing an entrepreneurial mindset

Management institutes are paramount in shaping the entrepreneurial mindset of the management graduates. Management institutes are not only focussing upon creating a workforce for the industry, the institutes are promoting an entrepreneurial ecosystem to empower the budding entrepreneurs. Many of the institutes have an Institutional Innovation Council to support the ideas of the management graduates. These councils support the innovative ideas of the students starting from the idea generation to the prototypes. With multiple training programs, certification courses and case study workshops, the institutes have been thoroughly promoting entrepreneurial mindset. Entrepreneurship is the activity driven by need for achievement of an individual and these institutions help the individuals with motivational training. Individuals are encouraged by the course structure and activity-based programs by the institutions to identify, develop and sharpen their skills and competencies. These entrepreneurs not only create job for themselves but aid in creating many jobs in the economy thus boosting employment.

The author is director, Jaipuria Institute of Management.

Disclaimer: Views expressed are personal and not necessarily that of FinancialExpress.com

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