Survey seeks to develop management curricula for Industrial Revolution 4.0

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Mumbai, July 25th, 2018: Bangalore-based IFIM Business School, along with the NHRDN, has initiated a survey to come up with the model management curricula for the Industrial Revolution 4.0. The survey will be conducted across corporates in the country from 15th July to 30th July to identify the relevant skills that needs to be adopted in business education in the coming years. The outcomes of the survey, succeeded by panel discussions, will be curated into a curriculum and proposed to the Ministry of Human Resource Development.

According to The World Economic Forum’s report ‘The Future of Jobs’, ‘the Fourth Industrial Revolution, which includes developments in previously disjointed fields such as artificial intelligence and machine-learning, robotics, nanotechnology, 3-D printing, and genetics and biotechnology, will cause widespread disruption not only to business models but also to labour markets over the next five years, with enormous change predicted in the skill sets needed to thrive in the new landscape. Earlier this month, the World Economic Forum released a report on the top 10 skills that are required in the age of automation at the workplace.

The ten identified skills are complex problem solving, critical thinking, creativity, people management, coordinating with others, emotional intelligence, judgement and decision making, service orientation, negotiation and cognitive flexibility. The survey revolves around the relevance of these skills in the Indian context, the progress by industries with reference to these skills and steps to implement them in areas lacking them.

Dhananjay Singh, Director General, NHRDN,sharing his views on the survey, said, “India is in dire need of an upgrade in its management curricula to keep up with the rapid transformations across industries globally. The country’s youth are considered one of the most talented resources across the world. The survey will be a platform for corporates in the country to share their views on the skills required for the future workforce. It will guide management institutions to adopt these practices in today’s curriculum to create job-ready and continuously employable professionals. This will keep India’s academia and industry aligned, which has seen a phase of disconnect in the past.”

Speaking on behalf of the AACSB accredited IFIM Business School, Dr. Atish Chattopadhyay, Director, of the B-School said, “It is essential for management institutions in the country to take the initiative to go above academic training and analyse the changes happening across the global job market. The way institutions prepare students is a decisive factor in how industries take shape. At IFIM Business School, we believe in nurturing continuously-employable professionals and the results of this survey will be a key factor in achieving our this goal.”

The results of the quantitative survey will be announced by the second week of August.