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Education and the Digital Economy Strategies that Lead to Success

By: Dave Landry Jr.

In order to help you chart a course that will lead to career success, this article will focus on the digital economy, how education will provide you with the skills you need to take advantage of opportunities, and what strategies you can employ to succeed after earning your MBA.

Digital Economy

A global economy built on digital technologies, the digital economy requires software applications, hardware, and networks. The term "digital economy" was actually first used by author Don Tapscott who wrote the book "The Digital Economy: Promise and Peril in the Age of Networked Intelligence" in 1995. The digital economy is always evolving and includes personal computing devices, web access, wireless networks, real-time analytics, global positioning systems, and more. The power and influence of the digital economy, which is transforming the way business is done, can be seen in the rise of Bitcoin, a digital currency, and the digital wallet, software for mobile devices that acts like a virtual wallet.

Education

IntelligentHQ says in an article that many business schools are catching on to the fact that the fast-moving digital economy is changing the job market in important ways like how graduates find jobs. And some business schools are being proactive by creating courses to help students understand not only the ins and outs of the digital economy, but also how it can impact business. 

One thing is certain; you definitely need to understand technology to make it. Consider that the OECD’s Skills and Jobs in the Internet Economy research paper published in 2014 says that workers must have generic and specialized information and communications technology (ICT) skills in order to make it in the digital economy. So, if you lack these sort of skills, you need to acquire them either courtesy of more education or further training whether on-site or online.

In the event that you’re in the process of applying for business school, be sure to consider whether or not the programs will help you to take advantage of opportunities in the digital economy. Many business schools understand the importance of preparing their MBA students for the digital economy, but that doesn’t necessarily mean that they all are. It’s up to you, therefore, to do your due diligence so that you find the right fit.

Strategies that Lead to Success

It’s often been said that those who fail to plan, plan to fail, and this sentiment is certainly true when it comes to what you do after earning your MBA. While there is no one right course of action, you do need a clear plan, so what follows are some strategies that lead to success.

  1. Digital Transformation: Many companies realize the need to adapt to the digital economy, but sometimes they require some assistance to get there. That’s where MBAs come in. Specifically, many businesses look for MBAs to help them with their digital transformation strategies, so if you have the right skills, you’ll be able to address a very real need in the marketplace.
  1. Digital Industry: Companies in the digital sector, including juggernauts such as Apple, Microsoft, Amazon, and Google, are always looking to attract the best and the brightest business school graduates to assist with leveraging data for their organizations. Again, this is why it’s important to pursue an MBA that will allow you to adapt to the digital economy realities.

It is definitely possible to experience great success in the digital economy if you acquire the right skills. Be sure that your MBA program will give you the tools you need to succeed in the marketplace so that you can take advantage of the many opportunities available.