There is great demand for MBA courses being offered by Indian business schools. MBA has shown flexibility in its orientation, and that makes it easier for the candidates to switch careers. MBA , to begin with, was structured on the teaching of foundation courses and some electives at the final year or the last semester. This was so in the 1960s and 1970s. The usual electives were HR, production and operations, finance and marketing. Marketing has become an elective of choice by a large number students. One reason was that marketing executives were on company’s expense account on the job, and the company met their lodging, boarding, travelling and entertainment expenses. The world was experiencing a chemistry revolution. Many breakthrough products such as detergents, polyester and paints had appeared on the market. These products were easy to produce and many producers joined the race to make them. What was needed was a marketing team to differentiate these similar products. There emerged a concept of brand and its image. Advertising agencies assisted the companies in this . Business schools introduced subjects such as marketing research, product management, brand management and sales management.

Later in the 80s and 90s and post-2000, business schools shifted the orientation from marketing to finance. Financial services were growing at a rapid pace. They offered most of the lucrative jobs. There was financialisation of economies. Financial services contribute substantially to national income. The types of financial products available increased in number and complexity. There are consultants working in this field globally. Candidates started opting for finance courses.

Another era has began. It is an era of AI and Machine Learning. AI brings a new approach to age-old business issues. We can do marketing research (MR), market segmentation and targeting, and sales forecasting using AI. Business is considered as a network of entities. We have to map our network of which our business is a part. There are bridging opportunities, geographic clusters and hubs. We have to avoid algorathmic bias. Thus the new orientation is AI and innovation, business analytics and prediction.

Business schools have to adapt to each new era. The challenge is to find competent teachers to impart these new skills. There is constant reshuffling of the curricula — old and outdated is cast off, and new topics and courses are added.