20 September 2024  [New Straits Times]

Technology is now embedded in every aspect of daily life, and business is no exception. Studies have shown that Malaysian employers are increasingly looking for digital workers with expertise in emergent fields such as data analytics and big data.

Professor Nafis Alam, renowned fintech expert and Head of School at Monash University’s School of Business, stated that today’s business graduates must therefore be tech-ready if they wish to remain relevant. “The heart of business has not changed: we need to know our customers and what makes them tick. But technology has transformed how we do it. Across all disciplines, critical thinking skills and data analytics expertise are no longer optional.

Today, every industry is sitting on a mountain of data and employers are looking for graduates who know how to use that data to make informed decisions,” he said.

Acutely aware of the evolving needs, the School of Business is constantly updating its curricula and integrating digital tools in the students’ learning experience. Director of Undergraduate Studies and senior lecturer Dr. Ewilly Liew said that business students, regardless of their major, are taught how to apply problem solving and analytical thinking in their disciplines. According to Dr. Liew, these skills and knowledge are sought-after in a broad range of business industries and beyond. “We teach students to translate business problems into data solutions, which is a unique skill. Many industries are also exploring artificial intelligence (AI), but human intelligence and augmentation are still required to effectively use AI,” she added.

Professor Nafis echoed the need for graduates to see digital expertise as a boost to one’s portfolio and marketability in the workplace. “Employers need to tap into consumers’ digital footprints and utilise big data. In today’s landscape, knowing how to harness digital technologies within a business framework will only increase your employability,” he said. In step with market demands, new majors in FinTech and Digital Marketing (under the Bachelor of Business and Commerce) were launched earlier this year.

Next year (2025), the School of Business will be expanding its suite of options further with two highly specialised degrees: Bachelor of Actuarial Analytics and Bachelor of Digital Business. Deputy Head of School Professor Goh See Kwong said technology now enables businesses to be more precise and targeted in their approaches, creating niche areas of digital business expertise.

“Our objective is to develop strategic business thinkers who, if they wish, can choose a highly specialised area of study even at an undergraduate level. With a strong foundation in digital business and competence in the use of technological tools and generative AI, our students will enjoy a competitive advantage in the workplace,” said Deputy Head of School Professor Goh See Kwong.

However, the benefits of digitalisation also come with new challenges to navigate. “As a business school, we realise that with the benefits of a digital world also come business challenges in consumer protection, cybersecurity, data protection and more,” revealed Dr. Ridoan Karim, lecturer and Deputy Director of Undergraduate Studies.

Dr. Karim, whose research interests lie in cyberlaw and energy justice, added that the School’s mission is to produce graduates who are not just skilled business leaders but also responsible digital citizens. As a signatory of the Principles of Responsible Management Education (PRME), the School seeks to develop responsible business leaders who advance a sustainable, equitable future for all. “We are preparing future minds who know how to address business challenges pertinent to areas such as cybersecurity, corporate governance and environmental, social and governance (ESG),” Dr. Karim said.

In addition to entrepreneurship, Monash business graduates can explore careers as financial analysts, consultants, business analysts, econometricians, statisticians, machine learning specialists and digital marketing specialists.

Dr. Liew said graduates can enjoy such a wide range of options because of the School’s purposefully curated study programs, which cover both traditional and contemporary business-related fields. “With relevant business skills coupled with real-world experience to ensure work-readiness, Monash graduates will enjoy career growth and success in whichever discipline they choose,” Dr. Liew said.

Technology is transforming business, and Monash University’s School of Business is staying ahead with an unparalleled learning experience that shapes thriving, responsible leaders in the digital age. Explore Monash business programs here.