Shortening product life cycles and constant evolution of international products and technologies are posing major challenges to businesses. Not just start-ups, but established businesses too are having to constantly evolve for keeping up with new trends in products, services and technologies. With innovation becoming a buzz word, going back to school to keep up with, if not go ahead of the curve, is seeing top managers and CEOs undertaking courses to acquire new skills—‘retooling’, in corporate jargon.
“Typically, people who have reached the corner office in large organisations would have done their MBAs in the 1970s and 1980s,” says Dr Farhan Pettiwala, president of Enactus India, a subsidiary of Enactus Worldwide, an international non-profit organisation of students with a focus on community empowerment through promotion of entrepreneurship. “They are extremely good at people skills, but struggle with technology, especially when it comes to the Internet of Things and Artificial Intelligence. So this aspect is missing in Indian education.”