Stay relevant with MBA in built environment

With the constant innovations and technological advancements, one cannot deny the importance of management education given the underlying advantages. Students from technical backgrounds lack knowledge related to multiple disciplines such as accounts, finance, taxation, audit, risk analysis, legal compliance, and marketing to name a few within the built environment space and hence they need to walk the extra mile to gain industry-relevant knowledge and competence.

MBA focuses on experience-based learning methods; this helps in the comprehensive development of students. They get equipped with leadership and communication skills. As per the UN Principles for Responsible Management Education (PRME), educational institutions must implement programmes to promote the development of globally responsible leaders in terms of achieving a balance of profit, planet and people. It promotes environmental, social and governance (ESG) factors so that companies can act responsibly.

Enhanced specialized skills put a student on a fast track to get better growth opportunities in their career. India’s built environment sector has a huge untapped potential, with a competitive marketplace which is backed by conglomerates and the government, the sector is growing manifolds.

The Indian built environment sector was worth $192 billion in 2019-2022 and is continuously growing. With fresh demand generated due to investments and lifestyle changes, the sector needs competent professionals to execute the projects successfully.

Today, the Indian real estate, infrastructure and construction sector is facing a major skill shortage, making it one of the most sought-after career options. The 'Royal Institution of Chartered Surveyors' also highlighted the significant skills deficit across specialized professions in the built environment- planners, civil engineers, architects, quantity surveyors, facility managers, project managers, valuers, etc. Moreover, this gap is estimated to widen in the future, if it is not catered to.

Therefore, it is essential to impart leadership and decision-making competencies among students. They must understand and analyze the built environment ecosystem and help in the decision-making of governments and private organizations. Many corporate professionals with MBA degrees are invited across the globe to become public policymakers, and further, become industry leaders.

MBA in Built Environment transforms individuals into true professionals with technical and leadership qualities. Furthermore, if a student pursues a specialized accredited management programmme from a reputed institution, it will help them garner knowledge of cutting-edge tech (AI, IoT, 3D Printing, etc.), cognitive flexibility, judgement & decision making and business communication to name a few. With hands-on, industry-led, experience-based education, students can work on international projects in the global real estate, infrastructure and construction sector.

In current times where uncertainty and continuous economic upheavals are constant, organizations must manage with fewer talents. This increased the demand for individuals with technical and leadership skills. As a result, one cannot deny the significance of MBA programmes in addressing critical aspects of business such as strategy, leadership, ethics, and growth.

(The author is the managing director of a school of built environment.)