Why MBA Alumni Are Opting into Online Lifelong Learning Programs

Education MBA is usually transient. Although participants make strong, useful links after graduation for a long time, they do not spend more than two years on campus. With graduates willing to return to the labor force more quickly, courses are shorter and shorter.

Now the traditional model of Online MBA education is challenged by economic and technological forces. Because managers are under pressure to develop new skills as a result of rapid advances in technology, and the millennium generation is changing their careers, industries and geographic regions frequently, there is an increasing need for them to participate again (many times often). Throughout the race.

This phenomenon has caught the attention of business schools, which are struggling to provide lifelong learning, with executive courses offered at substantial discount to graduates. Many schools see distance learning as the great opportunity to offer lifelong learning, where graduates can listen to distance learning classes without taking leave.

"It’s hard to see how two years of learning will provide all that is necessary to stay present for 40 years of work," said Ann Trompour, chief executive of Wharton Online.

Pennsylvania’s leading Business School grants MBA students access to all online public courses, including popular finance classes, digital marketing, quantitative models, and some exclusive. The reductions in the global group of 96,000 graduates range from 20 to 100 per cent, depending on the course.

"In fact, online learning is the only way to connect to learning that will be available to most people to update their skills throughout their lives," says Trampour.

"Simply people can not take a break and go back to the campus to see what they need to keep up with." The cost (in time and money) is not only prohibitive, but the university may not have courses that the staff they need. "

Wharton is far from the only one offering online content to affordable MBA students. IMD graduates in Switzerland receive a discount of about 10 per cent for all executive education courses, and the Rotterdam School of Management in the Netherlands offers graduates of other courses a 10 per cent discount on courses. Master of Business Administration. More schools are expected to follow suit.

A changing labor market

Development was driven by changes in the global labor market. The analysis found that people on average change their jobs four times before they reach 32 years. They change not only their jobs, but also into completely different areas.

Many senior executives are also forced to retrain as new forms of work develop and join people later in their lives. The McKinsey World Institute predicted that as many as one-third of American and German workers may need to change jobs by 2030 because of rapid automation.

Sean Meehan, dean of the Online MBA, believes this challenge requires changing mentality instead of acquiring technological skills.

"Five years ago, most executives were not aware of the potential of existing technologies to turn the landscape away from the opportunities and threats posed (especially by new participants, smaller and more agile); they knew little about artificial intelligence, deep learning or robots. That changed forever, "he says.

"CEOs realize that they must align management and leadership with industry 4.0 They should not only be updated about the ability of these technologies to interrupt; they should be aware that technologies are also in a state of rapid change."

About 10 percent of the IMD MBA Regiment returns to continuing education, a figure that is expected to grow. There are 12 online presentations that include courses on digital innovation, business sustainability and business analysis. Prices range from $ 1800 to $ 2,800. In addition, IDD organizes special events for graduates on emerging issues in cities around the world, giving graduates an opportunity to absorb knowledge informally.

Mihan says graduates do not take life-long courses because they have been expelled; they see it as vital to their long-term career success.

"The old advice you put on the question of what you’ve added to your resume in any year may be more important than ever," he says. "Senior executives continue to add skills and capabilities, and seek out learning experiences at work and through executive MBA."

He adds that graduates can not wait; they must start to update their skills continuously and continuously: "Always be prepared, know the market value and look for the best option for you."

Plenty of options

Moocs, often free, are another option for executive MBA students who want to improve their skills without giving up their jobs. Rotterdam School offers a variety of Moocs on topics such as innovation, sustainable business development and more. Even the growing demand for lifelong learning has led some organizations to create their own learning programs on the Internet. For example, AT & T has collaborated with Udacity Digital Education Platform to develop "nanodegreses" for its administrative staff.

"Employers are finding the need for new skills much faster than university response to changes in curriculum," Wharton’s Arboret says. "However, universities are working to create knowledge quickly, and they can now disseminate this knowledge faster than ever using technology."

"Employees should be proactive in finding the learning they need to remain employees … but employers, universities and employees must do a great job of preparing for the future," she says.

For Brandon Kirby, director of marketing and business admissions in Rotterdam, the burden of cost-lifelong learning must be shared between employers, schools and students.

"If the content is relevant to the business and will benefit from it, you can expect the company to contribute in some way," he says. "This may be in the form of financial support or in the time required for absenteeism that may be required."

However, if training is left out of this, "it can be said that the employee is expected to pay for the training itself."

More Online MBA students may be willing to pay the bill in the future, given the tremendous advantage of lifelong learning. If they do not, the risk is high.

"I do not think it’s possible to expect a master’s degree that includes a lifetime MBA," says Kirby. Given that the business landscape is changing rapidly, it is vital for successful leaders. Continuous learning is no different from an athlete who must be constantly trained to maintain an elite level. "

Hughes Global Education is the pioneer in providing the ‘Interactive Online Learning Platform’ for the working professionals to pursue an Online Executive Diploma/Certificate Programs.