The last decade has seen a lot of innovation and technological developments. Because of this, there were a lot of businesses that started and have become multinational enterprises. We can also call this the decade of entrepreneurship. There have been multiple entrepreneurs who started from nothing but are now valued at a high level.
After a certain time, individuals who were interested to be entrepreneurs but did not have the skills started looking for courses that would help them learn and develop the required skills and knowledge. This brought all the colleges and universities into developing a new course that will be specifically designed to impart knowledge and skills about innovation and entrepreneurship in the field of technology. This course is now being launched and included in the MBA courses available in select colleges or universities across the globe. This course is an MBA in Management of Technology and Innovation.
With technology and innovation rapidly developing, transforming the way people live and work, employers are looking for professionals who can understand the change and impact of innovation in all the sectors. Universities need to understand the importance of this and need to encourage their students to develop an innovative personality. Colleges such as Dayananda Sagar University, Jadavpur University, Jain University, etc. host events that have a compelling effect on students to create and innovate.
Technology, Innovation, and Management
A professional, to survive in the current job market, is supposed to have finesse in technology, innovation, and management. Adaptation of innovative technology is beneficial to a business as this is at the heart of business competitiveness. To start a business, an individual has to be innovative and make use of the latest technologies available. Just like the creators of Instagram, the social media platform created in 2012, Kevin Systorm and Mike Krieger took advantage of the booming industry for social media and now the company that they started is valued in millions.
There are a few Indian entrepreneurs who also took advantage of the expanding uses of the Internet and Technology to start their companies. Some of these companies are Swiggy, Dunzo, OYO, Bounce, Zomato, etc. All these companies provide information about various things at the touch of a person’s fingertips. Swiggy is a company that provides food delivery services, Dunzo is a company that provides online courier services, Zomato is a company that provides reviews about restaurants and other places, OYO provides online services to book a stay when traveling to new cities. In the above companies listed, OYO and Zomato have grown so much that they have expanded to other countries too.
MBA Courses such as MBA in Management of Technology and Innovation are constantly educating individuals about the rapid pace of change in the innovation of technology. These courses encourage their students to be aware of all the developments in technology. Often, businesses that are working with new technology or trying to develop new technologies are in need of a professional whose expertise is in being updated with these trends and how to manage the creation and development of new technologies.
On a global level, Elon Musk is a well-known name that is recalled whenever someone mentions an entrepreneur or business. He is well known for his company SpaceX which is the first company to send a rocket to the International Space Station. A decade ago this was just a dream, but now this is something that was achieved and displayed to the whole world. Technology in all disciplines has advanced so much, that the development of new and cheaper rocket fuel was also possible, which helped in accomplishing the SpaceX project.
It is important for people to dream big and create ideas that would turn into a better alternative for the future. For this, it is important that universities encourage students to create and innovate in their learning stages itself. Jadavpur University, Dayananda Sagar University, Jain University, etc are some of the universities in India that have events and clubs that support entrepreneurship and innovation of technology. Some colleges involved in teaching 10+2 classes are also encouraging students to innovate by hosting events such as science fairs and technology clubs.
It is important that individuals realize the rapid pace of change in technology and innovation. Being aware of this can be used to the individual’s advantage and can also help in creating new businesses and job opportunities.