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Executive Education is Changing

How Executive Education is Changing

Although executive education has been around for years, it has recently gained a lot of traction and popularity. Over time, executive education has morphed and reinvented itself, and continues to do so regularly.

According to the CarringtonCrisp Executive Education Futures 2018 study, 51% of employers are likely to increase their spend on executive education.

Also read: Executive Education Trends 2023

Employers Spend on Executive Education in the Last Two Years and the Next Two Years

executive education is changing
*Source: CarringtonCrisp Executive Education Futures 2018 Study

To emphasize even more how the industry is growing exponentially, Unicon states that it is a $30 billion industry in the U.S. alone and crosses well over a $100 billion globally in a July 2019 article.

The Growth Forecast for Different Sectors

executive education is changing
*Source: 2018 BlueSteps Executive Career Outlook Report

Considering the nature of business today, the requirements of the market and the requirements of the executives and key players in the market, executive education has been transforming itself in the following ways;

1. More personalized and interactive

Executive education programs have evolved to be extremely personalized and very interactive. Considering individual perspectives, opinions, and backgrounds, programs now cater to more specific requirements and provide personalized information. It has also become a place of more interaction and information sharing. Peers share their experiences with each other, as do the professors and mentors. This has also encouraged more classroom modules combined with online modules. This is one of the primary ways executive education is changing.

2. More competition

An inevitable factor in any industry, executive education is seeing a much larger number of options today – this number is also climbing steadily. This is due to the ever-growing demand for education and means to multiply skills. There’s also a higher demand from the industry for executives to be able to handle multiple types of situations that might require multiple skills. The competition also increases with multiple types of programs and courses, targeting different issues. Bosses also welcome professionals with multiple skills with open arms.

3. Diverse program structure

With more competition, executive education programs have also become more convenient to access. There are multiple program structure options such as online, certification, part-time, full-time, or a combination of all. This is to provide the option of taking up a program without having to sacrifice any existing career demands.

4. An ever-changing curriculum

With business becoming more global, it’s not surprising that executive education is teaching a more global syllabus that’s more relevant. With this also comes a larger focus on leadership skills, gender, ethics, politics, environment, innovation, and technology since the world is changing and advancing in these areas. Executives are also more fluid with their careers. It is no longer a necessary straight line upward but rather lateral shift in positions, designations, and roles. There are more professionals crossing the lines between industries and skills creating unique skill sets.

5. Diversity

Speaking of the world-changing, executive education sees a lot more gender and race diversity now than ever before. Core business teams are seeking out a more diverse team to not only support equity, but also to harness a broad spectrum of perspectives, ideologies, skills, and more. It’s no secret that the world is becoming more inclusive, and this reflects in executive education as well.

While executive education is constantly evolving and changing, these are areas of major change and worth noting.

Summary

Q. What has brought on the diversity in the program structure of executive education programs?

A. Executive education programs are available in multiple program structure options such as online, certification, part-time, full-time, or a combination of all so that executives can do a program without having to sacrifice any existing career demands.

Q. What is the nature of the more personalized and interactive programs?

A. Executive education programs have evolved to consider individual perspectives, opinions, and backgrounds, and have therefore become personalized and interactive.

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