Goodbye MBA (Master of Business Administration) & Welcome MCA (Master of Change Administration)
1) Telemedicine allows a Patient to have a video consultation with a doctor, for example, to offer medical advice when the doctor or patient can’t be there in person.
2) An instance of telesurgery enabled a team of surgeons in the United States to “remove” the gallbladder of a patient some 4,700 miles away in France!
3) Advanced technology can is ensuring that remote working is a norm and not an exception. This is being made possible through the creation of Protocols & SOPs to ensure that service can be dispensed at any remote corner without delay
4) This should result in enhanced productivity and faster turnaround and delivery for services.
5) Automation is not a Problem but a Solution; the only path to keep pace with Evolution
6) There are now over 13,000 known diseases, 6,000 drugs and 4,000 medical procedures – far too much information for one professional to know and master.
7) Technology also makes professional expertise more readily available to the layman, threatening certain professional positions.
8) In 2014, for example, 48 million US citizens prepared their taxes with online software instead of with the help of a tax professional.
9) Increased internet access now allows expert knowledge to reach people no matter where they are.
10) The Khan Academy, for example, offers educational videos online for free. In 2014, it registered 10 million visitors per month!
11) T H Marshall said,” A Professional Man, as it is said, does not work in order to be paid. He is paid in order that he may work
12) However, this definition over time has been turned upside down and we have started looking our professions as wealth factories
13) Professions will undergo change and there is no way to halt this. As Professionals we need to be ready to embrace change and support it
14) One will have to keep evolving to stay relevant that needs to cultivate a Learning Mindset
15) We are now on a treadmill and have no option to rest on our laurels but to build our stamina to keep pace with the speed of the treadmill
16) Learning new things, re-visiting our profession from a different perspective, changing professions will keep us on our toes and ahead of the change curve
17) However, for the sake of security, continuing, protection, relaxation, happiness, we can all build a factory of passive income / wealth creation
18) This is the factory of investment
19) While our old school directed us to invest our early years in Education, the new schools directs us to start an Investment Account during our Wonder Years and nourish it with regular SIP investing
20) This is because ‘Being a Student for Life’ is the new mantra to stay relevant and education therefore can no longer be confined to a single phase of Life
21) Having an investment account early in life will make it a passive income generator at a very early age when we are still young
22) This will help us to deal with changes that new technologies are thrusting upon us
23) It will help us to build a learning mindset, stay relevant, adapt to changes and eventually adopt the new life
I rest my case