The Silicon Valley Bank (SVB) crisis left a great lesson for the entire business ecosystem: you have to be prepared for the unexpected and react assertively. This further accentuates the importance of companies having highly trained professionals with skillsbut also passionate about their profession.
In today’s business world, professional success depends not only on academic and theoretical knowledge, but also on practical and real skills; however, many of these are acquired after a few years in the labor market, and after many failures that turn into apprenticeships. Even, on some occasions, professionals do not necessarily acquire the most optimal skills to perform their functions, especially in the business and financial areas, which require high-profile professionals.
Universities do not cover this need
According to National Survey of Graduates 2022 of the UVM, more than half of university students report that their main motivation to finish their studies is the possibility of having a better standard of living; however, 40% of graduates from public universities and 38% from private universities indicate that it is difficult to find a first job, mainly due to lack of experience and skills.
It is difficult for organizations to find collaborators, since the world has changed drastically and universities are considerably behind. We think that studying a degree takes four or five years, but the university has become a very expensive filter where you have to invest large economic sums without this guaranteeing access to the best jobs. Today’s education is not profitable, in practical terms.
According to figures from EsDe, by 2025 private universities could have a cost that oscillates between 319,000 and 2 million pesos; This amount could increase by 2030 to 2.6 million pesos and by 2035 to 3.3 million pesos without this representing a greater number of trained employees or better jobs.
This can be frustrating for company leaders, because no school guarantees that its graduates will be able to meet the talent needs that an organization requires.
These are 5 key skills for business professionals to face any crisis
1. Analysis and contextualization
Business professionals need to know how to collect, analyze, and interpret data to make informed decisions. The ability to understand financial information and other key data helps companies identify growth opportunities and improve effective decision making. Likewise, it works to articulate strategies for the incorporation of artificial intelligence tools, to the extent that information parameters to be used are defined.
2. Strong leadership
Effective leaders can inspire and motivate their team, as well as make informed decisions that benefit the company. Leadership ability also involves having a clear vision of the direction the company should take, and communicating it effectively to others. It sounds easy, but it is a skill that must be worked on and that in complex moments can make the difference between the success and failure of a project.
3. Creativity and innovation
Companies that do not adapt to changes in the market risk being left behind. Business professionals who think outside the box and find new ways to approach problems help their companies stay relevant and competitive, especially in contexts of high inflation and liquidity problems in entire markets.
4. Effective communication
In companies everything is negotiation; however, to achieve fruitful negotiations that help mediate conflicts, open areas of opportunity, etc.
Business professionals must be able to communicate their ideas and strategies clearly and persuasively, both inside and outside the company. The ability to listen and understand the needs of others is also important for teamwork and good business relationships.
5. Troubleshooting
Businesses face daily problems and challenges, and business professionals who can identify and solve these problems are highly valued. The ability to analyze and address complex problems effectively helps companies reduce costs, improve efficiency and increase profitability in the medium and long term.
Bernardo Munoz Graduate in administration and creditor of recognitions of academic excellence. Passionate about changing the current education system and helping the new generation in search of job opportunities.