The time is ripe for students to prepare for the post-pandemic innovations and understand the changing business dynamics. The global business setting has seen a windstorm modification within the aftermaths of the pandemic, that has caused irreversible changes in the ways businesses operate. As per a recent study conducted by the World Economic Forum, approximately one-third of all the jobs across the world are susceptible to drastic changes due to the influx of technology-based solutions. Therefore, there is a growing need to reassess the existing skillsets.
Growth Of Start-ups During The Pandemic
The consequences of the pandemic are bound to create behavioral changes in the corporate sector as well as the start-up ecosystem. Large-scale transitions and pandemic-induced unemployment ratios, coupled with decreasing flow of capital and investments are restricting the innovative processes. However, the promising growth of start-ups that were incubated by skill-driven innovators emerged as an effective antidote against these market perils. Diverse industries have benefited from the recent turn of events. The online business market is a prime example. Owing to the world shifting on the virtual forum, consumers are actively scouting the online market for their everyday needs. As a result, a previously untouched avenue is now open for innovation with some start-ups grabbing this opportunity to generate lucrative returns.
Some of the major industries that have witnessed a boom in start-ups include:
- EdTech: With educational institutions shifting to the online format, there is an urgent requirement for web tutoring and courses that can be pursued from home.
- Health Tech: The pandemic has generated massive scope to develop itself as an institute of necessity among consumers. People are receptive to anything that supports their health and fitness journey.
- FinTech: Increasing unemployment is the most serious aftershock of the pandemic. In such times, the entrepreneurial market has collaborated to develop financial service providers that reinvent conventional banking methodologies.
Need For Cognitive And Management Skills
While the aforementioned examples demonstrate the positive aspects of the world of start-ups despite the hindrances, the uncertainty of the post-pandemic business landscape calls for persistent management and cognitive resilience. Business leaders of tomorrow need to hone their problem-solving skills, decision-making skills, detailed financial modeling skills, and holistic strategic outlook to function efficiently in the dynamic business environment.
During times of adversities, the need to efficiently leverage various strategic frameworks to handle various business dilemmas is quite critical. Far-sighted HR Managers are therefore scouting for promising individuals who demonstrate proficient analytical skills to support the organization in managing their business.
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Role Of B-Schools In Bridging The Gap
Leading national and international B-schools are not oblivious to the rapidly evolving business scenarios and the consequent organizational demands. To nurture proficient leaders of tomorrow, they are adding contemporary specializations such as artificial intelligence, machine learning, big data analytics, financial technology, entrepreneurship, among others in their curriculum. Conventional methods of management education are now paving way for practical research, wherein the students are encouraged to brainstorm ideas that facilitate modern innovation.
