Breaking Down Borders: Rise Of Global Executive Education Programmes

John Kallelil Jun 26, 2023

From the dawn of civilisation till today's new era, we have experienced seismic shifts in our personal and professional affairs. Simply put, the advent of the pandemic has caused several disruptions that have not only wreaked havoc on industries across domains but also exposed us to a plethora of new opportunities and prospects. Globally, myriads of business organisations have undergone radical shifts, forcing them to embrace technological advancements and adapt those trends and innovations to stay ahead of the curve. These changes have resulted in the necessity to attract talent across organisations with specialised and diversified skill sets in order to bridge the gap between workforce and organisation and cater to the 'Industry 4.0' need.

As a result, this led professionals to upgrade themselves with new age and futuristic skills to stay abreast and in sync with current and emerging trends. According to NASSCOM, it was observed that over half of the Indian workforce has ameliorated their qualification to meet industry skills and demand for automation. This is where, among another academic fields, one such program that has piqued the significant attention of professionals is 'Executive Education.'

Executive Education: Bridging the gap between workforce and organisation

It is undeniably true that ever since the world of professional work has transformed, various new-age courses have carved out a distinct niche in the realm of education, and executive – an academic discipline specialised for working professionals – is one of them. This educational program is offered by elite and renowned business schools and universities targeted at business leaders, executives, and managers globally. Furthermore, due to the transforming landscape with technology taking over human-related work, staying up to date with the trends has become the need of the hour.

Executive education is essential in bridging the gap between the workforce and the organisation by overcoming challenges and providing certification, degrees, and diplomas to ensure continuous skilling, reskilling, and upskilling. These certifications are further initiated at the behest of an employer or through the desire of the learner to acquire knowledge and stay relevant during the competitive era and fragile recruiting cycles. According to Report Linker, the Indian executive education market will grow at a CAGR of 3.2 per cent by 2022 and is poised to grow more in the coming years.

Future Prospect

Emphasis on Digital Skills: With the industries imbibing technologies and the continuous transformation process, executive education programs will emphasise establishing digital literacy and necessary technical skills. Data analytics, artificial intelligence, cybersecurity, and digital marketing will all likely be included in curricula. As a result, executive programs emphasising exponential technologies and sensor networks will be in high demand.

Personalised and Continuous Learning: As the market becomes global, executive education programs will become more customised to individual learners, providing personalised learning paths and content. And, as online and hybrid learning choices become more common, flexibility in terms of time, format, and delivery will be critical. As a result, the future of executive education will shift away from traditional short-term programs and towards personalised and continuous learning.

Focus on Innovation and Entrepreneurship: With an increasing emphasis on innovation and entrepreneurship, executive education programs will likely give opportunities for professionals to build skills in creative thinking, problem-solving, and leadership in an entrepreneurial context. This will help leaders to foster organisational innovation and react to disruptive market dynamics.

Global and Cultural Competence: Executive education programs will address the demand for leaders who can manage varied cultural and business situations in an integrated global economy. Executive education programs will include cross-cultural competency, global leadership, and international business practices. In reality, as demand for executive education grows, so will supply. Thus, executive education will undoubtedly grow in the future, as will the opportunities that come with it.

Executive Education Programs: Breaking the Borders for Real

It is certainly true that we have witnessed a paradigm shift in the corporate arena since we entered the new era. And, as we advance in the coming years, the future of executive education programs worldwide is projected to undergo significant adjustments and alterations to satisfy the increasing needs of professionals in a fast-changing business sector. According to Future Market Research, the global executive education program is poised to reach USD 109.6 billion by 2031, growing at a CAGR of 11.2 per cent. Executive education program will adapt to shifting business demands and offer leaders with the knowledge and abilities needed to manage the future's complexity.