4 reasons a master’s in management prepares you for business in the future
As businesses evolve in an effort to adapt in the 21st century, management will become more diverse, remote, innovative, and strategic.Change happens fast. We often don’t realize this until we take the time to notice.
Bluetooth, Facebook, Twitter, Instagram, Uber, Wikipedia, Skype, drones, and (of course) smartphones all share one thing in common: they’re relatively new innovations. Each of these innovations is less than 20 years old but have profoundly impacted the way businesses operate. And as businesses continue their evolution, leadership and management structures will be forced to change too.
A global workforce will demand an open mind
Management of the future will be comprised of leaders capable of adapting the same cross-cultural mindset that invites diversity and inclusion in traditional office settings on a global scale. They will need strong communication skills and the ability to facilitate effective social networks that connect teams from across the world. Saybrook offers a master’s in management with a specialization in Global Workforce Collaboration that simulates this type of environment by compelling you to engage with each other across time zones, cultures, and global organizational networks.
Expansive organizations will require remote project management
The rise of technology has already begun to render traditional office spaces obsolete.
“For me, being in a physical space and a virtual place is no different. If I’m going to have a team, I have to consciously work at facilitating that team to build relationships and to communicate just like I would in a regular, co-located work environment,” says Director of Saybrook’s College of Social Sciences Leadership and Management program, Charles Piazza, in “The Obsolete Office.”
Future businesses will still need project managers with traditional skills, such as:
- Creating budgets
- Designating project timelines
- Developing reports
- Managing team members
However, they will also need project managers who possess an ability to empower team members from across borders and can effectively communicate with internal and external stakeholders of a business, no matter where they are in the world. To do this, project management will utilize more cloud-based project management systems and online meeting or video conferencing software.
Future challenges need innovation management and strong leadership
Great leadership is always essential for a great business. However, the innate leadership skills you may have been born with will only take you so far.
The future of management will seek leaders who develop practical solutions to complex problems. These leaders will recognize the value of global partnerships and put ethics before profit when addressing the major challenges the world faces across multiple sectors—business, health care, education, nonprofit. Additionally, innovative leaders should possess the following abilities:
- Analyze complex organizational situations through a systems lens
- Anticipate nonlinear cause and effect relationships and plan accordingly
- Respond to challenges proactively and collaboratively with stakeholders
- Plan and execute wise strategies and processes that avoid unintended consequences
Saybrook’s master’s degree focused on innovation management helps you further develop these skills to advance your leadership career and affect the future of for-profits, nonprofits, and government agencies.
Socially conscious businesses will need guidance
According to a Nielsen Global Survey conducted in 2014, “Fifty-five percent of global online consumers across 60 countries say they are willing to pay more for products and services provided by companies that are committed to positive social and environmental impact.”
Business sustainability involves achieving a delicate balance between financial profit with social standing and environmental impact. This type of management requires you to possess traditional business management skills with sustainability concepts, including:
- Socially responsible accounting and financial management
- Sustainable operations and organizational systems
- Global supply chain management
As consumer sentiment continues to shift, it will not be surprising that more and more businesses move toward better sustainable practices throughout the 21st century. They will need qualified individuals to guide them.