“Should I Take Admission In An MBA Course During This Pandemic Year?”
I received this message on WhatsApp last week from someone I know very closely. This led me thinking, that perhaps there are thousands of others who may have the same question running through their minds.
Things could not have been worse than two consecutive years being hit by a deadly virus that challenges our very existence. It has put the entire human progress at jeopardy. World economy is in doldrums. Corporates are under lockdown. Service industry, particularly, hospitality, is badly hit. People are losing jobs everywhere and those who remain employed, are not sure if their next pay check is coming or not. Movement of people is under severe restriction. Health infrastructure is crumbling. There is negligible domestic travel, leave aside international travel. There is a fear lurking in everyone’s mind. In such circumstances, the question asked by this fresh out-of-college daughter of a close friend is very relevant.
My first thought was, are we being hit by a crises for the first time? Imagine what would have been the condition of young people during World War Two? It would have seemed like the end of the world. But what happened after the war in America was a big time economic recovery. Most of the big time industry leaders of seventies and eighties were young collegiate during the war. Why go that far? As recent as 2001, when the World Trade Centre was attacked, it was a huge catastrophe, an attack on America! But today, what we remember of it are just gory visuals, that’s it. The issue concerning the youth today is very serious. Being a Management Faculty, the first thing I did was a PEST analysis. It is true that the external environment affecting a young student’s life are very grave. All the above statements turned out to be somewhat true, if not wholly true. All of them point to a disaster but are they really taking mankind towards a doomsday?
Will it bring an end to the human civilization like the dinosaurs millions of years ago? No. Will the human beings go back to living like the caveman? No. Will there be no human interactions in the future? No. Will the corporates never ever start business again? No. Will everything get back to normal? Well, No, again but the meaning of ‘Normal’ itself will change. We are going through a flux. Only those who can adapt to this change and prepare themselves for a tomorrow will succeed. In these circumstances, does it make sense to abandon your MBA dream? No. A big No. In fact, this is the time that all young people should re-dedicate themselves to study harder and make advantageous career choices for a brighter tomorrow.
How does an MBA / PGDM help you in this? Well, firstly, a post graduate degree in management prepares you for a VUCA (Volatile, Uncertain, Complex and Ambiguous) world. It teaches you to face the ups and downs of the business world within the given constraints. Secondly, it is a simulation of the real world that the students will face tomorrow. It creates situations and environment where students can practice their decision-making skills. Third, it develops your personality, holistically so that you are in a position to tide over any crises. And lastly, it pays and pays handsomely. For those who master the managerial skills, sky is the limit.
In short, an MBA/PGDM is the only ‘right’ educational choice for those who intend to rise to the higher echelons of business or even start their own enterprise. Do not get distracted by the grim situation around you. This too shall pass. But, when it does pass, where will you be standing? Unprepared for the next boom or ready to ride the wave? The decision is yours.
For further queries get in touch with us.
Dr Sandeep Bhardwaj,
Vivekanand Education Society’s Business School