“The person who follows the crowd usually does not go beyond the crowd. He who walks alone will find himself in a place which no one has seen before “- Albert Einstein
In an age where technology has facilitated the availability and accessibility of a wide range of manufactured products and services, consumers want to express their personality and identity through customization and personalization. Many of these have been made possible and popularized by social media platforms, using algorithms that use user preferences and preferences to personalize feeds and recommendations for users. The various e-commerce sites, news apps, audio and video streaming platforms focus on the concepts of Spotify and YouTube, personalization and customization, respectively. In fact, a recent McKinsey article, November 21, 2021, entitled How to Personalize It, states that “more than 70 percent of consumers now consider privatization to be a fundamental expectation.” The question to consider is whether these concepts can be extended to the field of education and specifically to design a customized and personalized MBA program for each student choosing this course of study.
With the growing need for customized experience sought by millennials and Gen Z students, and modular education sought by veteran professionals for recycling and networking opportunities, it is imperative that the management education sector prepares itself to meet the needs and aspirations of students. Ready for employment, and for an industry and its stakeholders that are witnessing a paradigm shift in their ecosystem.
Adaptability, agility, competition, digitization, disruption, flexibility, new emerging fields, alternative products, and much more – which at one time only applied to the mainstream industry – are now equally valid for the management education sector.
With a 40 year legacy, KJ Somaiya Institute of Management Management is at the forefront of education and is constantly innovating to meet the needs of the industry and to satisfy the hunger of the students for quality education. In line with the changes, from the upcoming MBA Batch 2022-24, the Institute will offer an MBA with 5 majors (Marketing, Finance, Human Resource, Data Science and Analytics and Operations Management) and 11 minors (Data Science and). Specialization in Analysis, Economics, Entrepreneurship, Financial Services, Human Resources, Integrated Marketing Communications, International Business, Management Consulting, Marketing, Operations Management and Retail Management). This will create a huge canvas of opportunities for the students and they will be able to pick and choose their fields of study and create their unique transitions and combinations from the several major and minor options offered at the Institute. This major-minor combination will help students create unique skill sets to determine their own career path. In addition, the Institute conducts multidisciplinary MBA Health Care Management and MBA Sports Management programs for these high-growth industries that require professional mentors and for students who have specialized profiles suitable for these programs. MBA Exec and MBA part time for mid-career professionals.
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The post-Covid economy has boosted employment and entrepreneurial potential in emerging sectors such as eTech, Medtech, Agritech, logistics and supply chain, e-commerce, use of AI and ML in business management, green energy, etc. The whole educational quality chain must be prepared to provide the student community with choice and flexibility that will ultimately meet the needs of end consumers – and that is the industry and the community. Self-education should create self-employment and provide employment opportunities to others. Industry 4.0 requires a new entrepreneurial mind bubbling with creative energy. As a leading business school in India, we are committed to developing training and management talents that can take on the challenges of a disrupted world in the face of black swan events such as the COVID epidemic.
Students should be given the freedom and flexibility to create their own career path based on the largest stakeholders in the education system and their preferred practice and their interests and available employment opportunities. The students joining the educational institution come from all over India and abroad and come from distinct socio-economic backgrounds and geographical regions with their unique knowledge, skills and underlying culture and sub-culture. Students’ mobility is a major trend due to the growing awareness and importance of quality education. And there are different types of intelligence and educational institutions must provide opportunities and platforms that students can use to develop their unique identities and skills.
Located on a green campus in central Mumbai, KJ Somaiya Institute of Management Believing in giving ‘Freedom of possibility’ To fulfill the hopes, aspirations and dreams of the students. For us, students can come from any stream of knowledge and at different stages of their careers – to acquire basic and advanced qualifications, and to meet their re-skills requirements. The mantra of the institute is to provide a platform for the student community to customize their MBA journey. ‘Be disconnected – because it opens up a vista of opportunity’. That ‘Knowledge alone frees’, Appears in action and spirit Somaiya Vidya Vihar.
KJ Somaiya Institute of Management Director and Marketing Professor
Dean – Faculty of Management Studies, Somaiya Vidyabihar University
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