Career Trends MBA Students Should Know in 2022

In recent years, career opportunities for MBA aspirants have witnessed a transition. They are in high demand in the tech sector, with leading global tech giants pulling the maximum number of MBA graduates. According to career experts, MBA jobs are all set to boom in 2022, with lack of skills and uncertainty in the business environment.

With most organizations shifting to new business models in the midst of the pandemic, the demand is likely to be stronger. It is the best opportunity for all the aspiring MBA students to know about the emerging trends in 2022. Here is a chance to pick the best opportunities and the ones worth knowing about.

A rise in jobs for MBA graduates in tech firms

Amidst the pandemic and even when working from home, employees at technology companies can do their jobs without sacrificing productivity. Apple became the first company to be valued at more than 3 trillion US dollars recently.

To put things into perspective, their success during the pandemic has resulted in an increase in annual MBA hiring during this time period. In 2019, 80 percent of tech companies reported plans to hire MBAs, but by 2021, that figure had risen to 96 percent. This could be a boon for international students.

More jobs in the healthcare sector

The healthcare industry comes up with enormous opportunities in the midst of the ongoing pandemic. The industry’s demand extends beyond healthcare professionals, with an increasing role of MBA graduates in the healthcare sector. The foremost reason being the introduction of innovative technologies such as predictive and preventative healthcare. According to experts, healthcare and biotech were the top recruiters for MBA graduates last year, and this trend is expected to continue in 2022.

Consulting firms hire MBA grads

Consulting firms are frequently ranked among the best places to work in the world. The industry is one of the top three sectors for MBAs to enter after graduation, along with finance and tech. Being a consultant allows you to put everything you’ve learned during your MBA to use. You will work with clients on projects spanning multiple industries and functions, as well as in teams comprising colleagues from all over the world. While most MBA programs can help you get a job as a consultant, MBA consulting specialisations focus on this career path more closely, preparing you for a career in the industry.

Opportunities in inclusivity and diversity

Sustainability is high on the political agenda, and it is also becoming increasingly important in business, with experts predicting a job boom in the field.

According to reports, companies with above-average diversity in their leadership teams achieved higher levels of innovation. Diversity and sustainability, according to career experts, will be a major focus for MBA recruiters in 2022. Employers across industries are looking for candidates who demonstrate these core values.

Surge in product management roles

Product management roles are one area that has seen an increase in interest. As these marketing-focused positions are becoming increasingly popular among MBAs, companies in a variety of industries look to MBA programs for product managers.  Experts are of the opinion that the number of people applying for these positions has increased to the point where firms can be more selective and ask for or look at candidates who have specific product experience prior to coming into that role.

 

Trends in Business Education 2022

Trends that will shape business education in 2022 and beyond

Influenced by the need for lifelong learning, the requirement for increased flexibility, and digitalization, business education programs are experiencing substantial changes and variances in content and format, whether they are led at institutions or companies. 

Business education isn’t the same as it used to be. External influences have multiplied dramatically in the last two years, resulting in a full makeover.

Business education programs are designed to endure substantial adjustments and alterations in terms of content and format. They will broaden their reach and scope in a world where lifelong learning is important due to a fast-paced era in which skills have a shorter shelf life and learners’ expectations are shifting toward increasingly digitalized, interactive, and adaptable experiences. 

To help you navigate this fast-changing world and make your journey easier, here are the important trends in business education.  

New content to tackle contemporary challenges

Today’s learners require far more than business expertise, whether in corporations or higher education institutions. Interdisciplinary is the keyword here. To get practical knowledge of everything business, talents such as technology awareness, digital and soft skills, knowledge of societal issues such as climate action, diversity, and equity should be incorporated in business education programs.  

As per reports, 66% of business school decision-makers asserted that their programs had been amended to ensure they offer the latest information to students on the significance of business management in helping to tackle climate change and other significant issues.

Apart from digital skills, soft skills are becoming increasingly relevant in organizations. They are not yet capable of being replaced by technology and are required for any job function, regardless of role, organization, or industry. 

One of the most important abilities for prospering in the face of uncertainty and constant change is soft skills. According to LinkedIn, 9 out of 10 that L&D professionals now use are represented by soft skills.

New formats for flexible business education

Business education in future will be more flexible, with no ties to a set location, timing, or structure. The one-size-fits-all education model will be phased out in favour of a wide range of programs and learning routes, including short courses, non-degree programs, certificates, and micro learning.

As lifelong education becomes compulsory, adult learners who cannot study full-time will need specific programs that will allow them to reskill and upskill.

Organizations and institutions must develop flexible, shorter, and focused programs for those learners who mix full-time jobs and families with learning. Younger generations entering university, business schools, or the job market will seek different learning experiences than their elders: virtualized, flexible, interactive, and collaborative.

Virtual and hybrid learning 

Virtual learning can be done effectively and efficiently using computer-based resources, without a traditional classroom atmosphere. It can be either asynchronous or synchronous in nature (live).

Synchronous virtual learning can be enabled through purpose-built solutions, such as virtual classrooms.

Asynchronous virtual learning can be done in a number of ways – recordings, eBooks, discussion boards, etc.- with a clearly accepted method being mobile learning. It can be enabled by adjusting existing content and platforms to be mobile friendly or creating mobile-first learning experiences. The latter, enabled by mobile applications, will allow micro learning on the go, efficiently and interactively. 

Hybrid learning or blended learning, encompasses a mix of onsite and online, synchronous and asynchronous methods of learning. 

It can combine live sessions in a traditional classroom, hybrid classroom (some participants onsite, some online), or virtual classroom with asynchronous methods, both virtual and analog, such as mobile learning or pre-recorded videos, as well as presentations, books, cheat sheets, and other materials.

Hybrid learning will become more fluid in 2022 as new technologies enable learners to fluidly switch between face-to-face education and an immersive virtual reality. Some deans are even speculating about the creation of a metaverse for business education.  

To conclude, new technological trends are clearly transforming the educational landscape in terms of teaching and learning methods. Learning has grown more convenient and accessible, and aspirations have risen as well. 

Every crisis has a solution, thanks to modern technology and new educational trends. Learners are able to continue their studies virtually. Something like this could not have been imagined not long ago. 

Exeed College with its innovative online MBA programs is transforming the lives of aspiring learners and preparing them to be leading innovators and entrepreneurs of tomorrow.

 

Biggest Business Trends 2022

Biggest business trends in 2022

There are  global shifts and challenges to deal with, such as climate change and shifting political and economic power. As our world is changing fast, organizations must learn to adapt it accordingly. There is rapid transformation across all industries. The major trends provide an overview of evolution of business operations to meet the demands of an ever-changing world.

Sustainable resilient operation

Accelerating supply chain decarbonization is a good start however, farsighted companies look beyond supply chain to improve sustainability across business operations. By having a resilient approach, organizations can practise sustainability, which is key to success. Ignoring the same hinders the growth.

The right balance with humans and robots

We now have increasingly capable robots and artificial intelligence (AI) systems that can perform tasks that humans used to do. Employers are now faced with a critical question: how do we strike a balance between intelligent machines and human intelligence? What roles should machines be given? Which roles do humans excel at? Without a doubt, automation will have an impact on every industry, so business leaders must prepare their organization to embrace change. 

The shifting talent and changing employee experience 

The way we work is evolving with more young people entering the workforce, more freelancers, and more remote workers. Studies show that traditional full-time employment will become a thing of the past as organizations shift to hiring people on a contract basis – with those people working remotely.  

Flatter, agile organizations

Generally, organizations have been very hierarchical and inflexible in their structures. However, that trend is changing as leaders recognise the need for flatter, more agile structures that enable the business to quickly make alterations to teams and respond to change. It is also a reaction to the changing nature of work, specifically the upsurge in freelance and remote workers. This is the era of flatter organizational structures, more akin to flexible communities than a top-down pyramid structure. 

Authenticity with consumers 

These days, consumers are looking for a more meaningful connection with brands. As a result of this need for connection, authenticity has emerged as a business trend. Authenticity fosters human connections because, as humans, we like to see brands and business leaders show important human qualities such as honesty, dependability, empathy, compassion, humility, and perhaps even a bit of vulnerability and fear.

Purposeful business

Linked to authenticity, this trend is all about ensuring your business exists to fulfil an important commitment – and not just provide profits to shareholders. The intention defines why the organization exists. Importantly, a powerful objective has the promise of transformation or striving for something better – be it a better world, a better way to do something, or whatever is important to your organization. 

Form of Financing 

The way companies generate money is also changing. New platforms and mechanisms have come up to connect organizations with investors and donors. Think of crowdfunding, initial coin offerings (ICOs), tokenizations, and special purpose acquisition companies (SPACs). Many of these new methods are driven by decentralized financial movements. In the decentralized financial movement,  financial services such as borrowing and transactions are carried out in a peer-to-peer network via a public decentralized blockchain network.

The way businesses and workers operate is shifting at a pace quicker than ever before, thanks to major global challenges and technological advances. These trends will have a significant impact on businesses in 2022 and the years beyond.

 

Digital Transformation Trends 2022

Digital Transformation Trends in 2022

The concept of digital transformation is quite extensively discussed in many organisational forums. It can be traced back to the mid-twentieth century where leading businesses have been on the digitalisation route for decades, even by the most conservative views.

Digital change, on the other hand, has created a new urgency in the last two years. As businesses have dealt with the after effects of the epidemic, digitisation has become an important future strategy. Looking at a year ahead, it is obvious that digital technology will continue to play a key part in business strategy and performance.

In general, digital transformation is the integration of digital technology into all aspects of an organisation, resulting in major changes in the way businesses function and give value to customers. Beyond that, it is a cultural paradigm shift that necessitates organisations challenging the status quo on a regular basis, conducting frequent trials, and becoming comfortable with failure. This may include abandoning long-standing business processes on which businesses were founded in favour of relatively fresh practices that are still being defined.

Here are some of the top Digital Transformation trends that businesses should dig more into.

  1. Cybersecurity and data protection

In 2022, the General Data Protection Regulation (GDPR) will be at the forefront of digital transformation. Because online transactions have expanded as a result of the pandemic, cybersecurity has become increasingly crucial. Since many businesses have shifted to a remote working environment, improved security has become more important.

In 2022, one of the most important features of technology and commercial interactions will be security. As businesses realise that their applications and automation must be secure in order to gain consumers’ trust, security-by-default will become a need. In the coming year, you can expect a high importance to be placed on transparency and safety.

For example, Mark Zuckerberg was in the news in 2018 for a significant security breach at Facebook. About 50 million Facebook users were affected. With millions of data breaches, some large corporations and government agencies have faced privacy lapses.

  1. Business process automation

In 2022, business process automation will be a must-have digital transformation trend for businesses. Small business automation, in particular. Small business owners must use business process automation in all parts of their operations to stay ahead of the competition, whether it’s accounting, marketing, or customer service.

Automation will no longer be limited to enterprise-level organisations next year, especially as more affordable solutions become available.

According to a Gartner report, 77 percent of firms employ a combination of integration, automation application development, and artificial intelligence (AI) tools in their daily job.

AI will be able to automate repetitive or dangerous work. Manufacturing, supply chain, marketing research, and other industries will benefit from this technology too. Many organisations, notably Amazon’s Alexa service, already use this technology. Machine learning technology can aid  business with choices and predictions by enhancing predictive analytics.

  1. Cloud-based solutions

Cloud-based solutions are growing more popular as a result of their numerous advantages, such as scalability, cost savings, and ease of use. Many businesses are abandoning traditional on-premises software in favour of cloud-based options. Running corporate applications in the cloud is more efficient and cost-effective.

Improved data security is required for businesses and industries that use digital technologies. As technology advances, so are the threats posed by hackers, necessitating the enhancement of data security measures.

Cloud-based services boost cyber-security features and keep data safe for businesses. Digital innovation will compel enterprises to use cloud solutions to prioritise data security starting in 2022. 

  1. Hybrid work

In 2022, hybrid work environments will be the most popular digital transformation trend. They are rapidly expanding, and their workplaces are changing as well. Employee expectations are rising as the future of work becomes increasingly connected.

In order to enhance efficiency and retain talent, businesses are being compelled to adapt and create digitally connected experiences.

As workplace standards evolve, more and more organisations are relying on hybrid or virtual connections to their workforce. Employee expectations have changed, and the work-life balance has adjusted to enable more time for activities that are not related to their employment.

To increase productivity and retain employees, businesses need to provide digital-first and connected experiences. 

  1. Digital banking

Businesses upgraded their digital assets to better operations in 2022, indicating that digital transitions are unavoidable. The rate at which firms transition digitally will not slow down in 2022.

Digital banking will be one of the top digital transformation trends by 2022. From loan applications to digital payments, the majority of financial services are now available online. In the approaching years, digital banking will become more popular. In the financial sector, this will have a huge transformational influence.

You may have noticed that a number of organisations have begun to provide loans and credit cards over the internet. Document verification and other evaluations are now completed entirely online. This is the way forward for  financial services. With few clicks, you may apply for loans and pay the bills online.

5G and Internet of Things (IoT)

The 5G network heralds the arrival of the next era in mobile communication. The speed with  5G is projected to take roughly one millisecond to reply to orders, compared to 200 milliseconds for 4G. Businesses that rely on the Internet of Things (IoT) can profit from 5G’s increased efficiency in a variety of ways.

Investing in the 5G network and growing the usage of IoT in the workplace will help you cut down on all productions that are influenced by a company’s decision. 5G offers increased bandwidth, greater installation flexibility, increased dependability, and improved security. The arrival of 5G provides faster broadband speeds and more reliable mobile networks to end consumers, paving the way for a much more connected future.

 

2020 Salary Trends in UAE and Saudi Arabia

Salary Trends in UAE

Employees in the UAE should expect an increase of 4.5 percent on average in 2020. A big number of UAE firms are set to raise their salaries in 2020. This is only possible due to how healthy the economy is. 45 percent of companies will increase their employees while 52 percent wants to maintain their staff base and only 3 percent are planning to decrease their staffing level. Economic growth is said to be at 2.5 percent for the next five years. Statistics showed that inflation is lower than income increases. This is in all, a positive situation.

The highest percent of salaries would be on a 4.6 percent increase in the sciences like health care and pharmaceuticals while the energy industry is likely to see just a 3.7 percent increase. 4.5 percent and 4 percent are for technology jobs and the consumer goods industry. Survey was also carried out on voluntary and involuntary turnover rates.

Voluntary turnover rate is when an employee chooses to leave a company and it increased over 2 percent compared to previous years. Involuntary turnover rate is when an employee is sacked or fired and this also increased over 4 percent as compared to previous years.

All the points above clearly show how good the job market is. 2016 was a year where oil price dropped hence giving organizations no excuse but to downsize. So the involuntary turnover was higher back in 2016. 2020 would ensure more opportunities for employees to get proper jobs.

Salary Trends in Saudi Arabia

Saudi Arabia has in recent years enjoyed a good decrease in unemployment and inflation rates which speaks well of the workforce and which also added to the growth of its GDP. The GDP has been further forecasted to increase more. There has been an increase from 7 percent in 2018 to 9 percent in 2019. This is indicative of a well-structured job market.

52 percent of organizations in Saudi Arabia have confirmed that they will increase their number of employees while 38 percent said they would keep their numbers the same in the year 2020. 2020 seems like a year where there will be deliverable and an upsurge in the job market.

Four out of five employees said workplace wellness would allow them to choose between two organizations. Saudi Arabia employers have sought ways to make employees deliver maximally while increasing profits. Organizations are set to build circles and system that would cater for every generation of its workforce, increase their wellness, whilst improving their talents via workplace challenges.

Beyond this, 2020 would see employers and employees’ chemistry go up. There would be good understanding between parties. In its bid to improve the workplace, Saudi Arabia is increasing salary and identifying young leaders so as to keep them at bay.

The overall idea isn’t just to increase salaries come 2020 but to see an improved organization, improved job market and ultimately, better country. Employers are also going to be more intense about personal and professional goals for their employees.

Useful Resources for 2020

7 Best Paying Project Management Certifications in 2020

ROI of an MBA Program

MBA in Dubai – 2020

5 Business Trends to look out for in 2019

Business trends determine how one structures and plan their business strategies. Typically, most small or big businesses usually take reactive measures towards their business plans for the year, rather than proactive measures. When you implement certain trends, it is important you do so while they are still novel, any delayed implementation will only lead to epileptic results. What all of these mean is that you have to be quick in knowing and implementing the latest business trends if you want to gain competitive advantage.

2019, offers a fresh start to business owners and entrepreneurs and an avenue to make adequate plans for the year. With that said, business operations don’t occur in isolation, and trends are changing constantly. It doesn’t matter if the changes in trends occur in marketing, technology, and so on, business owners need to know the right changes to implement in 2019.

With that said, we’ve created a list of vital business trends that entrepreneurs need to have a successful 2019. These trends will be essential to various business models, and they will play a key role in the coming years.

Let’s check out the 5 Business Trends to look out for in 2019.

1. Consumers will turn more to Voice search

SEO will always play a vital role in any business strategy. The ease with which your business can be found on search engines will greatly affect how you attract customers, and ultimately your revenue stream.

Even searches have now transcended text searches alone. More users are now leaning towards voice searches for convenience purposes. You should make your business search engine optimized for text, and voice searches. In 2019, voice search will make up for more than 50% of all searches.

2. Social Media will continue to rise

Reports indicate that more than 90% of businesses spent more resources on social media business strategies in 2018 than in 2017. That figure will continually rise, as more businesses try to take advantage of the opportunities social media guarantees. 2019 will build on the foundation laid already.

Social media offers significant potential for entrepreneurs to connect and engage with their customer base in an efficient way. Take advantage of the advertising opportunities social media services like Instagram provides. Market analysts projects that revenue from Instagram will exceed $10 billion in 2019

3. Content Marketing becomes even more needful

Most entrepreneurs and small businesses owners do not take content marketing seriously. In fact, a study showed that in 2018, more than 75% of businesses did not invest in content marketing. However, content marketing will continue to play a vital role in lead generation, customer acquisition, as well as customer acquisition. In 2019, businesses can make giant strides in their business plans by implementing a practical content marketing approach. Pay attention more to what your customers want, and tailor your strategy to meet with their demands.

4. Businesses will need to adapt to modern customer

Customers and clients in 2019 will have a variety of choices more than they’ve ever had. Customers are now inclined to businesses that offer responsive customer support, fast delivery, and personalized service. It doesn’t matter what service the business is offering; if it doesn’t meet the demands of the customer, it will lose a competitive advantage. Businesses in 2019 should offer intuitive user experience and user-friendly practices if they want to attain their respective business goals.

5. Cloud is the way to go

Businesses that do not embrace cloud practices in 2019 will be left behind. Research shows that businesses that adopt cloud technologies grow more than 20% faster than businesses that don’t. Such businesses attract more customers because of their streamlined and fast services, and as such, attract a significant ROI.

Final thoughts

Make use of these business trends in 2019 to achieve competitive advantage.

Useful links for reference:

Biggest Business Trends in 2022

Trends that will shape business education in 2022