IIMs To Introduce New Electives To Meet Changing Business Needs

Post pandemic, courses are going through a change. So, IIMs are now gearing up to alter and introduce courses which resonate the need for change, by introducing specific electives. The Indian Institute of Management are now going to introduce courses that will be in sync with changing trends in workforce management and how to handle uncertainty.

Some of those courses include how to handle attrition and human resources in startups, how to establish a fintech firm, competing in times of artificial intelligence (AI) and machine learning (ML), and facets of healthcare management and blockchain. 

Much on the lines of how hospitality industry has been syncing its requirements with academia, IIMs are constantly in contact with industry experts to understand how curricula needs to become more relevant and employability centric. According to Debashish Chatterjee, IIM-Kozhikode who spoke to a leading Indian media house, “Subjects that need to be taught now include climate change and its impact on business, and aspects of foreign policy.”

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Within the post pandemic reality, managers have to be trained to be ‘future ready’. Mental and wellbeing management is the new thing that all future managers would need to take care of. The unprecedented stress that lockdowns created effected worker outputs at a very deep level.

New electives could include topics like happiness, emotional stability and authentic living; privacy paradox: artificial intelligence and digital platforms; economic ideas from ancient India; and managing modern retail in the omnichannel world. IIM (Ahmedabad) for example has introduced them over the last two years and the batch of 2023 will have more than 15 new electives to choose from.

In IIM Lucknow, for example, the new batch will get to choose from understanding HR in startups, Total Rewards and Measures; Legal Aspects of Banking and Negotiable Instruments; Building and Managing Financial Institution amongst scores of other subjects.How curricula is being changed to meet requirements of various changing industrial needs