In this dynamic world of disruptions, upskilling has been a non-negotiable need for all working professionals in any industry. Staying ahead in this competitive business environment demands continuous innovation and efficiently adapting to the changes in the market. As fresh graduates and entry-level executives have lot more options to pivot their career according to the market, the industry urgently requires the established mid-senior and top management professionals to move ahead of the curve when it comes to innovations and disruptions. This is where Executive Education becomes relevant in upskilling experienced working professionals.
The Way of Executive Education:
Working executives with sufficient years of work experience have a better option by taking up executive education certificate programmes instead of the traditional route of MBA via clearing entrance examinations like CAT or GMAT. The course content of the executive education programmes will mirror the content of the ones taught for the degree-granting programmes like MBA, but the context of the offering greatly differs.
The cohort selected for executive programmes shall contain only like-minded executives in the mid-management and senior leadership who can interact & collaborate at a more mature level when compared the fresh graduates aiming for an MBA degree with very limited or entry-level experience. The ideal participants of Executive Education programmes can easily relate to the contextual industry experiences shared by the professors during the sessions and therefore can produce enhanced learning outcomes.
IIMB Executive Education has been consistently in the global Top 50 of FT Executive Education Rankings. IIMB Executive Education got the #47th position in 2023 for its Open programmes category.
IIM Bangalore also offers customized executive education programmes based on the diagnostic study of understanding client needs & requirements to develop & offer a specialized curriculum to the nominated employees of the client organization.
Executive education: Modern-day need of the hour
Upskilling and reskilling: It is certainly true that new-age innovations and advancements have heralded a new era in the business world. Going beyond gaining mere knowledge of technological trends, digital applications, and platforms, it has become crucial for modern-day executives to incorporate that technical literacy into their daily operations. Here, executive education plays an imperative part in assisting individuals develop new skills and abilities, unlocking higher levels of success.
Networking opportunities: In today’s interconnected world, networking holds immense value for personal and professional growth. Executive education opens a plethora of networking opportunities, allowing individuals to connect with accomplished executives from diverse industries and backgrounds, cultivating a rich environment for collaboration. The connections that executive education programs expose an individual can certainly unlock a pathway to new opportunities, partnerships, and ideas.
Comprehending the contemporary demands: The modern business environment is defined by cutting-edge inventions, technological developments, and rapidly evolving business landscapes. To excel in this technology-oriented landscape, it has become crucial for business leaders to develop the skills and knowledge necessary to stay ahead. Executive education offers a flexible and tailored approach to address the needs and challenges of the dynamic business setting, equipping individuals with the essential tools to remain competitive in a rapidly changing world.
Scope of Executive Education:
According to a Fortune Business Insights report, the executive education market was valued at $237 billion globally in 2021 and is projected to rise at a compound annual growth rate (CAGR) of 11.7% between 2022 and 2028, with India playing a significant role in this expansion. The country’s thriving start-up scene and the increasing number of international businesses looking to capitalize on India’s potential can be attributed to the rise in demand for executive education in the country.
It was also estimated in the reports that over 50% of Indian employees will need to ‘re-orient’ their existing careers according to the evolving market, acquire new skills in addition to developing their transferrable skills by next year, thereby creating a substantial market for executive education.
Market research reports have also indicated that professionals in the age group of 32-40 years have been the prime segment for Executive Education with over 40% share among total enrolment in Executive Education Programmes. In the post-COVID era, offering hybrid and blended executive programmes has resulted in a drastic surge in nominations from corporate-sponsored candidates – thus it provides a win-win situation for the employee and the company to take up executive education.
Apart from the prime segment, the advanced Leadership Development Programmes are gaining traction as mid-level executives are moulded to become future leaders to guide their firms to the limelight. As and when the older generation top-level executives are about to exit the workforce soon, firms aim to upskill their mid-senior executives in advanced leadership strategies through Executive Leadership Programmes.
Explore the offerings of IIM Bangalore’s Executive Education here – Search For Programmes – Executive Education IIM Bangalore
IIMB’s executive Education Programmes allow participants to go beyond just learning by building a network of excellence. IIMB’s commitment to excellence extends beyond the confines of the classroom. Participants benefit from a wealth of resources including access to cutting-edge research papers, industry partnerships and Alumni networks. This ecosystem of support ensures that learners are equipped not only with the requisite knowledge and skills but also with the networks and resources necessary to catalyse their professional growth.