Technology is omnipresent in Business 5.0, and is a critical requirement for building robust organisations, improving functions, and creating value for customers. Yet, most businesses are still hindered by legacy technologies that have failed to keep pace with the lightning-fast changes of the last few decades. Consequently, there has been a rising demand for management professionals with technical proficiency in every business domain, particularly in leading organisations through digital transformation. Educational institutions have stepped up their effort to meet this challenge with innovative programs like an MBA in Digital Transformation (DT).
Digital transformation requires a foundational change that encompasses an organisation’s data, processes, and existing technologies. An MBA in this field has emerged as one of the most critical courses in helping an organisation to adopt and adapt its processes to new technologies. Because of its focus on digital technologies, most management institutes prefer candidates with a background in technology, engineering, or mathematics. To be eligible for the program, most schools typically look for candidates graduate with Mathematics at the graduation level
A multidisciplinary program, an MBA in Digital Transformation is based on three pillars, namely designing new processes and effecting business transformation through innovative thinking, enabling technology adoption for employees and other stakeholders, and managing change for organisations looking to transform their businesses for the future.
MBA in Digital Transformation equips managers with the ability to design comprehensive organisational frameworks for business transformation that can leverage exponential technologies like data analytics, machine learning, AI and neural networks, as well as emerging technologies such as Blockchain, IoT, AR, VR, and RPA.
The second pillar of technology adoption relates to the human factor. For any transformation program to be successful, employees and various stakeholders must be trained appropriately. An aspiring manager must also possess the skill to persuade people to adapt, motivate them through organisational changes, and collaborate with others to ensure a smooth transition.
Finally, it includes change management where students are trained in the most efficient methods of implementing changes in the internal and external processes of a company. In addition to managing employees, business leaders must also supervise the working of the company during and after transformation. The curriculum will usually also include modules that are necessary for bringing large-scale organisational changes, such as Enterprise Resource Planning (ERP), business process transformation, and the study of human resource capabilities for digital transformations.
Technology has emerged as a driving force in every aspect of our life. Other emerging courses in digital technology include M. Tech. (Data Sciences & Business Analytics), M.Tech. (Artificial intelligence), B.Sc. (Data Science), Post Graduate Diploma in Data Science & Analytics, B.Tech.(Computer Science), B.Tech. (Artificial Intelligence), B.Tech. (Computer Science), B.Tech. (Information Technology), and B.Tech. (Computer).
With a high demand for digitisation across various sectors, an MBA in Digital Transformation offers aspiring managers a high employability potential. They can work in client-facing functions like sales, or in operational roles. They can also work as part of digital transformation teams that are typically found in large conglomerates. Additionally, they may often be part of high-profile executive teams, working with Chief Executive Officers (CEOs), and Chief Digital Officers (CDOs), and can even go on to become CDOs themselves.
An MBA in Digital Transformation also opens up opportunities for working with consulting companies as digital or domain consultants. With experience, they can set up their own practice and work independently. Given their specialisation in transforming businesses, they are also in high demand in the emerging startup ecosystem of India.
MBA in Digital Transformation equips students with dual expertise in management and technology, giving them an edge over their contemporaries in a highly-digitised environment. Given the rapid pace of technological change, organisations across various sectors will need business leaders to keep pace with this constantly-evolving environment. Managers who also possess expertise in digital transformation will, therefore, play a critical role in leading this change and ensuring our economy stays future-ready in Business 5.0.
(The author is Associate Dean, Technology Management, NMIMS)
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