For a Successful Career in Management

For a Successful Career in Management

21, October 2021

The arrival of new technologies like Artificial Intelligence, Robotics, and Machine Learning, socio-economic shift, and the repercussions of the ongoing pandemic have had had an overall impact on activities. And so, the conglomerates have completely changed the way they carry out their business and the type of skills their workforce must possess to help them grow in this modern age of work. The World Economic Forum in their report on Future of Jobs 2020, envisioned that the digital revolution will revamp the future of work, workforce, and the workplace. The report also predicts that almost 50% of all the present workforce will have to upskill and reskill by 2025 as technology adoption has and will escalate by leaps and bounds. Additionally, employers believe that skills like critical analysis, problem-solving, cognitive flexibility will be of great importance over the next five years.

The following trends seem to be budding in the coming time that will have an immediate influence on the skill-set anticipations from the aspiring management graduates:

Dominance of Technology

The new technologies have forayed into almost every business domain and have made an impact in no time. Consequently, the new graduates aspiring to enter any industry will have to be technophiles to be able to cater to the business and the organization's needs. It is automation due to which most of the manufacturing work is carried out by machines already while other monotonous jobs will also be taken over machines. As a result, the new age managers are expected to be tech-savvy with a better understanding of business activities, who not only use technology but also develop tech solutions.

Future Job Prospects

The routine and everyday jobs will be taken over by technology because of technological disruption. So, what lies ahead is difficult to predict in terms of job roles or job transformation. This unorganized job sector is going to be balanced by new jobs that will be created in new sectors arising out of technological innovations. These new jobs will require a completely new skill set for the job work to be carried out proficiently. With regards to present jobs, new jobs, and skillset has created evident unrest and confusion on how to prepare for the future job roles. The managers of the future will have to be on their toes for technology adoption, upskilling, reskilling, or any other requirement that comes up, yet illogical to foresee. For which top management colleges in India deliver to make the students future ready.

The onset of contemporary skills

The basic yet integral decisive question is because of a change in the future of jobs, what skillset, work capability, and work ethics the aspiring management graduates should acquire so that they are a valuable addition to the business or organization. The experts and veterans from the industry consider two different techniques to be considered in this case. First, one is the futuristic approach wherein the managers cultivate multi-functional and inter-disciplinary skills, wisdom, and competence through flexible and analytical learning, design thinking, collaborative skills, and evolved aptitude for problem-solving. The second technique is that of an expert, where managers choose a domain of their interest and aim to become an expert. Both the techniques have their pros and cons, it is the choice of an individual to choose one as per their convenience. The top 10 skills recognized by World Economic Forum for 2025 fall in the four broad categories: 1. Problem-Solving Skills like analytical and critical thinking, logical reasoning, creativity, innovation, ideation, and intricate problem solving 2. Self-supervision skills like dynamic learning and resilience, stress management, and adaptability 3. Readiness for working with people like leadership, people management, and social impact 4. Proficiency in Technology handling, adoption, and evolution

Lifetime Learnings

The new age managers should be ready to venture into the process of everlasting skill development and expansion, for survival in this competitive age. The changing nature of jobs is yet unclear and how it will affect the future of jobs, hirings is a hot cup of tea. Hence, lifetime learnings become an indispensable element that will be the basis for growth and success.

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