Rapid innovations are the reality in the VUCA world of today wherein technological advancements are having multiple social, economic, political and business implications, transforming many modern industries and the required associated skill sets. The boom in knowledge-centric gig-economy and new-age startups in the times of Industry 4.0 is further compounding the dynamic business landscape in terms of disruption in the number and kinds of jobs coming up. The impact of business disruption in the times of Industry 4.0 can be fathomed from the fact that almost 54% of the Fortune 500 companies in the year 2000 are already extinct while many others that might be featured in the list of 2035 may be yet unborn.
The impact of business disruption
The current business ecosystem which is strife with technological, economic, socio-cultural and demographic changes is an imminent harbinger for conventional education systems to revamp, adapt and update their approach or risk becoming obsolete altogether. The primary drawback of the traditional system of education is the excessive focus given to syllabus completion and attainment of high grades rather than empowering students with the necessary skills essential to meet the requirements of the corporate. The resulting gap between industry requirements and the curriculum taught is adding to the already rampant problem of unemployment in the nation.
To survive, sustain as well as compete in the high flux business scenario, business schools are expected to craft resilient, agile and competent professionals armed with new age skills and business acumen. This necessitates a mandatory shift from practicing the outdated traditional education to adopting Outcome Based Education.
Outcome-Based Education (OBE) is a pedagogical model in which the curriculum, teaching learning pedagogy and assessment tools are driven by the outcomes and high- order learning the students must display by the end of the course as opposed to a mere accumulation of course credits. In contrast to the focus of the traditional education system on what is taught, OBE focuses on what is learnt.
OBE focuses on what is learnt
At IMS Ghaziabad, the learner centric focus of Outcome Based Education is followed in all phases. Since inception, the institute has believed in breaking the status quo and imparting management education that is moving past algorithmic learning in order to equip the budding professionals with the necessary skills imperative for the workplace of the 21st century. In line with our motto of crafting global business leaders of tomorrow, the focus is on addressing the expectations and demands of the corporate from the prospective employees with respect to the crucial skill sets. The thrust is to nurture in our learners, the essential attributes of deep discipline knowledge & intellectual breadth; team player & excellent communication; high degree of Corporate Readiness & Agility; Critical thinking, Problem Solving & Research Orientation; Creativity & Innovation; Information & Communication Technology Skills; Socially Responsible & ethical and an Entrepreneurial mindset.
One look at the global job markets and it becomes obvious that most of the top listed companies as well as the economic drivers of business are primarily in the tech industry. The success of the job aspirants in the future job market will be largely determined by their competence in managing technology and leveraging the phenomenal opportunities generated by technological innovations. As organizations all across the globe are increasing their digital footprints, it becomes imperative for prospective employees to enhance their digital acumen.
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At IMS Ghaziabad, the curriculum, which is based on higher levels of Bloom’s Taxonomy, is constantly reviewed and upgraded in consultation with corporate experts, academicians and other stakeholders to be relevant for a data-driven world powered by digital technology and high flux business landscape. To develop in our budding professionals managerial skills which are relevant to the digital era, courses like Management of Change, Innovation & Technology; Business Analytics; HR Analytics; Google Analytics and many more have been included in the curriculum.
The institute has undertaken multiple initiatives such as Centre for Innovation & Entrepreneurship, Value Added Short Term Training Programmes, Value Added Certification Programmes, Competency Mapping, Student Outreach etc. for Skill Enhancement of the learners. Initiatives like Student Psychological Counseling Program, Department Clubs and Personal & Professional Skill Programs enable the young minds to imbibe crucial Life skills. Corporate Readiness of the learners is being given momentum through initiatives such as Pre-Placement Preparedness Committee, Placement Readiness Enhancement Program, Corporate Interface Series, CSR activities, Workshops and many more. The institute has entered into an array of elite Global Academic Collaborations and regularly conducts International Study Tour, Distinctive Talk Series, International Conferences, Conclaves and Summits for strengthening the Global as well as Corporate Interface. The institute has entered into collaborative alliances with renowned international and national organizations for mutual synergized advancement in research and academic excellence.
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There is no denying the hard fact that we all are living in times of cut throat merciless competition wherein corporations have tremendous expectations from prospective employees. Gone are the good old days when employees were extended long induction periods and tender handholding. The employers of today demand flawless delivery of results from day one of on boarding. Educators must acknowledge and accept that an education system focusing on skilling and outcomes is a formal part of and not an alternative to mainstream education. Only then will they be able to successfully evolve their roles from being mere disseminators of knowledge to becoming facilitators of knowledge.