Why it is essential to embrace the digital age through your business management studies
Times are not only changing – they are advancing. To move forward in the modern business world, we need to take steps towards digital communication and practices. We need to learn the language of social media and understand today’s technological capabilities. Furthermore, we need to embrace digital disruption to achieve our goals and progress on our academic and career journeys.
Here are a few reasons why your business management course must be aligned to the digital age.
According to Forbes, you need to future-proof your business to ensure it survives in the modern business world. Therefore, you will undoubtedly want your business management degree to supplement its future through an understanding of digital practices. With the advent of the Fourth Industrial Revolution (4IR) and the world moving in a direction that is cloud-based and interconnected via social networks, it is important to adopt a digital approach to your business management studies, focusing on the way business is heading.
One of the best ways to use digital technology to future proof your business or enterprise is through personalisation.
The customer wants to be recognised as “the same customer” at every point of interaction… Today, customers want products and offers based on their preferences. They want to know what others like and dislike about the products.
[Source: Deloitte Digital – ‘Future-proof your digital business’]
As stated by the Digital Marketing Institute, using data-driven insights to understand customers and enables hyper-personalisation, relevancy, real-time feedback and agility. This involves businesses to make use of both structured (personal customer information) and unstructured data (social media metrics) pulling together data from many sides of the business to help drive the transformation journey.
Forbes’s interaction with Cisco Vice President Rajat Mishra explored how optimising your customer experience (CX) through digital practices can solve the threats to your business posed by future uncertainties.
In other words, perfecting your customer experience strategy is about building and maintaining a relationship with your customers; once you establish that bond, it will be much harder for them to switch to a competitor — even if they have a compelling, high-tech offering or a similar product that costs less.
[Source: Forbes – ‘Why You Need to Future-Proof Your Business — and How to Do It’]
Digital is faster
When it comes to modern business, speed matters – and there’s no denying that digital business practices are faster. Staying informed about business trends, reacting to change and delivering your products and/or services all require ‘digital business agility’, which is vital to managing your business in an ever-evolving digital environment. This is why your business management studies need to incorporate and support digital agility and provide application that can benefit your business or enterprise.
Companies that possess digital business agility respond quickly and effectively to emerging threats to their business, and seize new market opportunities before their rivals even notice them.
[Source: IMD – The digital business agility imperative]
Collaborate. Communicate. Celebrate.
An essential part of managing a team is ensuring they work together towards a common goal. This entails giving each of them access to the best tools – and the best business tools today are digital ones.
McKinsey found transformation success is more than three times as likely when people invest in digital talent: it takes teams who are willing to coexist, work together, and use digital tools for a common goal. By giving everyone access to the same data and digital tools, it empowers each individual to share ideas and ask questions, which fosters innovation and multi-disciplinary team building. A new wave of digital tools can also help companies to focus not only on hiring but also on managing, retaining, and developing employees. A good business management course should assist you in exploring how the digital landscape can enhance teamwork through digital business agility.
Modern problems require modern solutions
Adopting a digital approach in learning business management will certainly help you stay prepared for modern challenges. Docbyte says that the digital revolution involves new company needs and challenges – not only in the field of technology but also in terms of customer support and human resources management. The internationally accredited Postgraduate Diploma in Business Management and Administration (PGDip BMA) at the University of Stellenbosch Business School (USB) can help you develop a digitally-minded and holistic approach to your business or enterprise.
USB’s PGDip BMA includes unique modules such as Digital Quotient, Systems Methods and Sustainable Enterprises – all of which contribute to helping your business survive and thrive in the digital age. If you are interested in preparing yourself in the best way to kick start your business in the modern business world, and progress into the exciting future of business, apply for the PGDip BMA at USB today.