How business education programmes are promoting digital innovation
The rise of digital innovation continues to grow and develop, especially as more and more tech-savvy millennials continue shaping the workforce.
Something that shapes these tech-savvy entrepreneurs though, is an education which embraces disruptive innovation in this industry. This what ensures industry growth within the tech sector.
It is imperative that business education programmes incorporate the tech industry within curriculums, even if it disrupts the traditional curriculum. After all, business is always changing and what is popular to trade changes with that, at the moment, its technology.
The way that business education programmes are being taught has changed and continues to change as time goes on and business in general continues to develop.
Why have business education programmes changed?
Many business schools are now providing more disruptive and innovative teachings within their curriculums. One example is Hult International Business School, with leading classes ensuring that digital innovation and technological developments are a focus.
Technology has become a huge marketplace for entrepreneurs to go into, especially since the boom of social media and dating apps. Not only this, but technology has helped pave the way for streamlining other businesses. Look at the way we now get taxis for example.
Apps have changed the way we live our lives, and this has changed the way we do business. It is now more important for us to buy convenience as well as a product and we buy both as a package in our tech-led way of living.
This means that business schools have needed to adapt to keep up with these changes and make sure that their students graduate with the most up to date knowledge when it comes to running a business and running it successfully in the current target market.
So, with the landscape of business ever changing in today’s climate, courses are now available which focus on how to do business in a practical setting which enables learners to get to grips with how tech and digital are now influencing us as customers.
These kinds of courses also teach students how digital innovation is impacting the decision making process of those in business as well as organisational changes.
Innovation in business
Digital and technological advances have changed the way we do business, with many businesses across the world transforming their systems and using more digital based software than ever before to manage their company.
Let’s take the retail high street as one example. There are now more online stores than ever before, and the eCommerce boom has truly taken hold.
It has also been reported that half of UK sales in retail will be online within the next 10 years, which shows just how much business, and the way we do business has changed over the years.
It is now more important than ever that students learn the ropes when it comes to tech and digital, in particular those studying business as this is the direction that it is going in.
The business leaders of tomorrow are studying today, and this means that it is imperative to study a course that is not afraid to promote digital innovation in the classroom.
Big data is another factor of digital innovation which has transformed the way we do business, and managers have begun to learn specialist skills that are necessary to keep up in the technology led business world we live in today.
This means as well as teaching skills to better students decision making skills, courses that are leading on the digital front are also enabling students to understand and learn analytical skills so that data can be understood and utilised in business.
Business models are changing
Business models are also changing and many have changed already, disrupting industries and transforming market interactions. To manage this evolution though, things must be kept steady in business in order to keep change sustainable. This is backed by research from McKinsey & Company which found that 70% of transformation programmes fail.
Building digital skills and hiring people with digital talent is critical in making sure that businesses thrive in today’s market, and this new breed of tech-savvy business executives are going to be pivotal in the relevance of any company – new or established – in this digital era.
This digital business model can also be seen in the way newspapers and other media now make their products, with a pay wall regularly popping up so that we can get access to the latest news and stories whereas before we would be required to buy the magazine.
For a business education to be effective today, digital innovation has to be at the core of the curriculum to ensure that students can graduate with the know-how to become the best business leaders that they can be.
Photo by Samuel Zeller