Source: WEF Future of Jobs Report

These forces will change the world of business in future. The future business models will require managers and leaders who think and act differently than their 20th century peers. This has many implications for Future of Work and MBA Curriculum.

The Domestic Drivers
While the above macro factors are affecting all countries, on its own, India is going through a period of unprecedented change that many compare with the reforms of 1991 that changed the face of Indian economy and industry completely. B-schools in India must carefully examine these changes to research and incorporate vital elements in their MBA programs.

Key Government Initiatives
PM Narendra Modi’s Government has undertaken many significant reforms and initiatives in last 3 years, which are reshaping the nation, consumer markets and business practices. Key initiatives can perhaps be summed up as:
• Bold, structural changes like Goods &Service Tax (GST)and Demonetisation to curb Tax evasion and Parallel economy
• Government initiatives to boost sectors like Manufacturing (Make in India); Entrepreneurship (Start-up India); Rural India (Boosting Farmers Income); Infrastructure Development (Roads, Railways, Metros, Airports, Smart Cities) among others
• The JAM Trinity (Jan Dhan Yojana, Aadhar & Mobile): In just over a year in 2015, 19.72 crore bank accounts were opened. Now, subsidies get deposited directly in the bank accounts in the form of direct benefit transfers, eliminating leakages and scope for any discretionary action. PAHAL Yojana, recently entered the Guinness Book of World Records for being the world’s largest direct cash transfer scheme. Under PAHAL Yojana, now 14.62 crore LPG subsidies are directly deposited into the bank accounts.