Executive education has become increasingly important in recent years, with major global brands entering India, and the country experiencing a new phase of development and growth. Furthering growth and catapulting India’s dominance on a global scale, now requires managerial competencies capable of facilitating established and growing businesses. The emergence of the pandemic has only accelerated this demand for new skill sets, and customized learning programs to address changing business needs and technological advancements.
To address these new age evolving demands, the industry is undergoing a transformation, featuring new models of engagement, and relevant and contextual learning, deriving from global best practices in executive education. We are also witnessing a heightened demand for customized and impactful learning programs revolving around multi-disciplinary perspective building, which is much needed to develop critical decision-making skills, for solving complex problems. Such customized learning helps executives in building a solid foundation in critical & futuristic thinking, and problem-solving skills, which are essential for furthering career growth. Let us explore some of the most prominent trends and best practices in executive education today.
Global Trends towards Collaborative Learning Models
The first step towards successful executive education programs is to understand the current & evolving needs of executives and organizations. This requires collaboration with industry experts and thought leaders, to design & deliver relevant & impactful programs that address the specific needs of each organization. Leveraging technology platforms can enhance the learning experience and reach a wider audience, providing access to individuals and organizations worldwide. Globally, the trend over the past few years has been to move away from generic open enrolment programmes, towards customized programmes, using blended delivery models. Customization is the preferred model for organizational impact because it allows for a targeted approach to developing organization-specific skills, and for addressing future business needs. Some of the most successful business schools in the world are using customized programme offerings to address the specific needs of each organization, to drive optimal learning outcomes and business impact.
Assessing the Delivery Equation
Designing and delivering customized programs that meet specific business needs requires a deep understanding of the importance of customization in executive education. Best practices for designing and delivering these programs include using experiential learning through real-world case studies, simulations, and expert faculty to create a rich learning experience. Pedagogical innovation, with an absolute focus on new-age teaching methods, is essential for developing and delivering critical decision-making skills needed to solve complex problems. Experiential learning, gamification, and blended learning are some of the most successful examples of innovative teaching methods for impactful executive education. Leading business schools globally have implemented these innovative methods to provide a rich and dynamic learning experience for executives.
Picking the Right Partner
Mahindra University
The changing dynamic business environment requires the right fit when it comes to choosing learning partners. Understanding the criteria for selecting an executive education partner is essential for the success of the learning & development initiatives in organizations. Key factors to consider when selecting a partner include the institution’s reputation, experience, and expertise, as well as its ability to customize programs to meet specific business needs. In addition, companies should also measure the ROI of executive education programs in today’s business environment. Successful executive education programmes enable the application of learning at the workplace, through action learning projects that address critical problems at the workplace, providing a clear impact and return on investment. Examples of successful ROI from executive education programs include increased revenue stream identification, improved productivity, and higher employee retention rates; firms must evaluate these potential payoffs before they arrive at a final decision on partner selection.
Given the evolving landscape in India, executive education is transforming, with new models, best practices, and emerging trends reshaping the industry as a whole. Collaboration with industry experts, customization, innovative teaching methods, and measuring impact through ROI metrics, are essential factors in designing & delivering successful executive education programmes. By embracing these new trends and best practices, organizations can enable their managers to develop the critical leadership competencies, and prudent decision-making skills, necessary to solve complex problems, and drive change towards sustainable future business growth.
(The author Meher Pramod Mantravadi, Head-Department of Centre for Executive Education at Mahindra University)
