Why Upskilling Is Needed to Train India’s Senior Management Professionals
India is home to several MNCs and unicorns and has rapidly adapted to technological innovations and business trends. The country is also one of the fastest-growing economies in the world.[1] To thrive amidst emerging trends, businesses need competent senior managers who have a futuristic outlook. They need to be highly skilled to strategise effectively and execute seamlessly. Moreover, they must possess decision-making capabilities with a problem-solving approach.
The World Economic Forum (WEF) predicts that 133 million new job opportunities will come up in 2022 creating more work. However, this also means that a significant number of employees, approximately 54%, need to upskill or reskill themselves to remain relevant in the market. These statistics show the importance of upskilling and senior management is no different in this regard. As leaders in one of the fastest-growing economies of the world, they need to be adept with technological advancements such as AI, analytics and more. Additionally, they must also possess good communication skills as they often become the face of the company in the future.
Career Path of a Senior Management Professional
If you are a senior manager right now, later in your career, you could end up with one of the titles below:
Vice president
Vice president
Director
Director/ Associate Director
Principle
Operations Manager/Director
President/Owner
Partner
Senior managers may progress to upper-level positions by demonstrating proficiency in all aspects of their roles. Their performance history, professional qualifications, experience levels and area of expertise all play an important factor during potential promotions.
KEY POINTS:
India is one of the fastest-growing major economies in the world. To thrive amidst emerging trends, businesses need competent senior management professionals who have a futuristic outlook. They need to be highly skilled to strategize effectively and execute seamlessly.
Senior management programs are geared towards upskilling in management and teaching them to adopt a futuristic approach. These programs are tailored especially for working professionals who wish to accelerate their careers by pursuing an executive program.
Challenges of Transitioning into Senior Management Roles
Transitioning into a senior management role is not an easy job. It is quite a daunting and challenging process.
Moving up the ladder requires changing focus. Just as you change the lenses of the camera to get a wider angle and broader view, so is management practice.
The new role requires new skills and capabilities. These may be at an operational level, functional level, or a behavioural level. Senior managers need to be able to get the work done through others by effectively delegating and leading others. Additionally, the focus must be on strategic thinking and planning, understanding group dynamics and budgetary and production planning on a broader scale.
Senior managers, need to have a strong “lead by example” mentality. It is a vital component of success in senior management because it’s going to leave an impact on the subordinates. Moreover, new managers need to build self-awareness and emotional intelligence while closing gaps in performance.
That’s not all! Trust, self-awareness, relating, accountability, focus, empathy, decisiveness, resilience, courage, systems thinking, etc. are essential skills that one needs to acquire in order to climb the ladder.
How Executive Education Can Help
Considering the skill-based challenges individuals face while transitioning into a senior management role, pursuing an executive education programme can be an excellent solution. The course will not only upskill & reskill you but will also align you with the latest industry trends.
An executive senior management program from IIM Indore is ideal for those who wish to move ahead in their career. The program is conducted in a hybrid manner, including online and offline aspects. It is designed to cater to industry needs and technological advancements. The courses offered within this program are relevant to industry trends such as analytics for decision making, operations in a digital world and more. With its unique pedagogy and innovative assessment, IIM Indore’s program is well suited for professionals who wish to upskill and pursue their careers in senior management. All in all, the course helps you adopt a futuristic approach.
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