The skills & knowledge that were taught in the traditional era used to remain pertinent for at least past two decades, with moving times and evolving mindsets, there is a strong requirement for filling the gap of traditional mindset associated towards imparting education and led to developing of requirements based on ever budding professional work space. The top influential conditions impacting executive development market can be traced to digital culture shock which companies have experienced across every industry. Such change incites for designing a new way of doing things coupled with a fresh approach towards the leadership. Technology has shifted the world drastically & executive development programs must prepare leaders for leading the new era. The global Executive Education Market Size is registering a considerable growth over past years. The professional find executive education as a key way to adopt new learning and leadership qualities. The most quoted influential condition, changing business strategies, proposes that executive development professionals must build programs that are tangled more closely towards the business strategy and context. This further allows leaders to develop alignment, mindset, and capabilities needed for the successful execution of the programs. Some of major universities in executive education include Harvard business school, Yale school of management, IMD Business School, Stanford University, Wharton executive education, and Indian Institute of Managements. Moreover, development of digital platform for executive education across different universities has also led to development of concerns about digital transformation and prerequisite for increased innovation produce. This appropriate combination of skill and course curriculum demonstrates leaders need for new knowledge and skills to operate in this rapidly changing environment. The key trends in executive education include use of stackable learning techniques, learning new skills that are relevant to their current challenges, and ever rising popularity. In addition eventually companies also need formal degree which is widely recognized, and the employee acquires a transferable skill recognition which can be helpful for organization.
Competition major player’s corporate learning industry: The corporate trainers, institute tends to focus upon key aspects such as communication, personality, leadership etc. Rise in realization that networking is one of the key aspect, professionals and educators feel a strong need for influencers. The executive education market is further demarcated as the incomes generated from part time executive education programs offered by the institutes as well as virtual means by all private and public institutes. Furthermore, many of the players in this market are developed competitive advantage over others and dominated the highest market growth across the globe which further led to increase in demand that benefitted attaining attractive amount of market share globally. Moreover, the learning market space with customized solutions is continuing to grow, the needs will diversify and vary significantly by the prospective client. In response to these newly developed needs, many business schools further continues for developing competitively professional services firms. The new investment and change are likely being requisite for many new job roles. Many companies are seeking customized learning involvements to develop specific skill sets, insights, and capabilities in order to drive their businesses where learning is flawlessly integrated with business performance this have further supported executive education business growth.
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Ankur Gupta, Head Marketing & Communications