The second decade of the new millennium opens up with dimly lit burgeoning skies. There are doubts in the minds of poets, prophets and priests, who are busy projecting a dark future. Globally, as the distant thunder of the war clouds seems approaching a crescendo, the doomsday protagonists, economists and sociopolitical thought leaders are predicting dark nights, while the die-hard optimists both at home and abroad are projecting the dawn of a golden decade. They keep faith in Lord Macaulay’s optimism, “On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?” There is unanimity in rational positive thought provokers at home that the economy has bottomed out and the decade will usher bright sunshine and cheer.
There is no denying of the fact that global economic uncertainties have lowered the export threshold as the China – USA – Russia – Iran tug of war has had a negative impact on BRICS / ASEAN /EU/NAFTA economies. The African subcontinent and the Middle East countries are also on the brink of socio-eco- political collapse. The Indian economy is gradually recovering from the wave of reforms and regulatory tightening. The fiscal consolidation, Tax and banking reforms, heavy Public sector investment in infrastructure and opening of the economy for FDI in multiple sectors as well as improving ease of business have significantly brightened the economic outlook. The FDI reserves are at an all-time high of about USD 456 billion, and Indian stock market capitalization is at USD 2.3 trillion, 70% of the Indian GDP. The Indian rupee has stood up to global monetary pressures and fuel prices are less volatile. While challenges in unemployment and industrial production persist, there is marked improvement across the SDG’s including infant mortality, primary and technical education as well as life expectancy and the healthcare paradigm. The startup culture has taken roots and we are on way to launch dozens of Unicorns throughout the decade with improved support systems in place.
But to the young management professionals seeking to cross the industry threshold, the road ahead may appear to be narrow and challenging. As companies big and small appear to be struggling to keep up their growth rates and improve their bottom lines, taking raw professionals on board may not be the right option. Surprisingly this is exactly what many of the companies are doing. They are recruiting fresh talent and shaking the tree as it were, to achieve the optimal balance. Obviously the corporate world and markets are looking for talents and capabilities which will act as performance enhancers and multipliers. In brief they are seeking solutions which will improve their bottom lines as well as help sustain the growth story.
Welcome to the world of Bridgital Innovation- a term divined by the authors of “Bridgital nation” referred above! In their path breaking work released last quarter, the hitech leader - economist duo present, a blue print for facilitating accelerated multi-dimensional growth of our country by harnessing digital technologies.
Based on their rich experience of driving and sustaining the global commanding heights achieved by the TATA Empire and the TCS they have outlined as it were, the Magna-Carta of marrying digital technologies with people by “reimagining task and processes that make up a job with technology that enhances and supports workers”. They believe that the digital technology adoption would become affordable with, “Bridgital Graduates” galvanizing productivity across sectors to live up to the hope, “let India be on the forefront of the fourth Industrial Revolution”.
I believe the message of the authors is a clarion call to all the professionals especially to the management practitioners of our country to shape and nurture “Bridgital Graduates” so as to ensure corporate success while contributing to our dynamic economy. A company is a microcosm of the economy and the MBA’s donning the robes of bridgital graduates would not only add to the bottom lines of their employers but would act as force multipliers of our growth story. Thus, the B-schools have their task cut out as they have to shape management graduates balancing the business learnings with digital transformation tools to emerge as the champions of the bridgital economy which we hope to become.
We at MET, are ensuring that the students competencies are honed with broad range of digital tools and technologies ranging from Data Analytics, simulations, algorithms, fintech, social media interventions, critical for driving e-Business seamlessly. The critical inputs in the verticals of Marketing, Finance, Systems, HR and Operations are delivered seeking leadership roles, vision, mission, ownership, trust, responsibility, strategic decision making, team building, scenario building, management games and experiential learning. Academic inputs are supplemented with lab support, field trips, industrial visits, boot camps, internships and live projects. They are also motivated to participate in national level programmes like Swacch Bharat, Start Up India, Make In India etc. and work for CSR related projects to develop sensitivity for the under privileged strata of the society, as we are members of UNAOC/GNinCC shape students for building an inclusive society.
In conclusion, we believe that the acronym MBA has turned a full circle. From its humble origin in the early 20th century in the US, it has been loosely described as crown of the wild olives as well as a punching bag by the envious. However, despite stiff competition from the STEM fraternity across the globe it adorns the galaxy of CEO’s and head honchos of the corporate world. But with the evolution of Bridgital Graduates, I believe it has evolved in to a transformational evangelist, leading to Bridgital Innovation linking the Hitech Corporations with social infra services. The MBA’s could undoubtedly usher in the golden age of our society and country. As H.G. Wells puts it,
Prof. (Dr.) Vijay Page
MET Institute of Management