According to McKinsey, the demand for workers with technology skills far exceeds the available talent pool. The tech skills shortage could impact over 90% of organizations worldwide by 2026, causing approximately $5.5 trillion in losses. Where these tech workers will come from is front of mind for many employers; less conspicuous but no less critical is the question of who will fill the management jobs and direct these tech professionals.
Business skills will be essential to these managers, but they won’t be enough; they will also need technological fluency to oversee projects and drive innovation. The hiring climate should reward candidates with a tech-focused Master of Business Administration like the online MBA at Stevens Institute of Technology, a program that values and prioritizes technology to ensure they are gaining marketable skills that can turn into tech management jobs. Continue reading to learn more about how this degree can bolster and distinguish your resume.
Why Tech-Savvy Managers Have an Edge
Organizations rely on technology to operate more efficiently and effectively. Tech impacts every aspect of a business, including management. Managers with technical competence can streamline workflows, understand the dynamics of different departments and communicate effectually with team members across the organization.
While the technical skills managers need vary by industry, organization and role, many positions require digital competencies (especially in emerging topics like AI) and aptitude in project management, financial management, data analysis and business process improvement.
What follows are explorations of business functions in which core technology knowledge matters. These examples highlight a few of the myriad of management jobs available to tech-savvy managers.Â
Technology & Financial Management Jobs
The highly competitive finance industry requires professionals who can apply technical skills to financial principles and theories and provide accurate forecasts and analyses. Financial analysts use analytic and reporting skills to evaluate financial data and effectively communicate accurate, data-driven insights to stakeholders. Financial managers frequently employ risk management skills to identify, assess and manage risks to help minimize losses and optimize returns.
Technology & Jobs in Operations Management
Operations managers strive to improve business functions to maximize a company’s productivity and profitability. They use technology to streamline processes, drive efficiency and increase visibility. Operations managers must possess data processing and analysis skills to collect, organize, and distribute data and use insights to help inform decision-making. To operate productively, they must also demonstrate proficiency with technical applications such as project management, financial and data analysis tools. IT operations management jobs require professionals with advanced knowledge of technological systems to manage personnel effectively, optimize IT systems and stay on top of emerging technologies.
Technology & Construction Management Jobs
In recent years, emerging technologies have transformed the construction management industry by increasing efficiency, streamlining project workflows and helping construction managers make strategic decisions. Construction managers must utilize technical skills to improve collaboration and project management to succeed in this fast-paced industry. They may use tools like building information modeling software to create 3D models that identify potential issues and improve designs or drones and aerial imaging to monitor projects and conduct site inspections. They can also use robotics and automation technologies to improve efficiency and reduce risks to humans by deploying robotic systems in potentially hazardous situations.
Technology & Engineering Management Jobs
Engineering managers oversee daily operations and lead teams of engineers to meet company goals and objectives. They need a solid technical background and domain knowledge to manage projects and ensure their team’s work is technically sound. Many engineering management jobs also require managers to have experience with programming languages, frameworks and architectural patterns. Due to their increasing importance to business and engineering functions, engineering managers can also benefit from the knowledge of concepts like Big Data and the Internet of Things (IoT).
Technology & Careers in Project Management
Project managers ensure projects are completed on time and within budget and meet all requirements. They need technical skills to manage project tasks effectively and must stay current on the latest technological tools to increase efficiency and productivity. Some technical skills commonly used by project managers include risk management, budgeting and technical writing. They also use agile methodologies like Scrum or Kanban to manage complex projects successfully..
The Stevens MBA: Tech-Focused. Future-Forward.
The AACSB-accredited Stevens Institute of Technology Online Master of Business Administration (OMBA) combines business knowledge with the technology and analytics necessary to excel in today’s data-centric world. The program, offered part time, features online courses and two immersion experiences. Program coursework addresses existing and emerging technologies applicable to managers of all kinds and emphasizes applied learning and better decision-making through data and technology. Graduates of the OMBA program emerge as leaders capable of making fast, data-supported decisions.
Stevens has had innovation at its core for over 150 years; the school consistently ranks among the top MBA programs in New Jersey. This “technology differentiation” distinguishes Stevens from other universities and prepares students for success in internships, cooperative education and careers.
The Stevens MBA Curriculum: A Closer Look
The Stevens Online MBA infuses technology into each course to ensure the program meets the needs of today’s business professionals. It includes three foundational prerequisite courses, which students may waive with approved course equivalents.
Following the foundational courses, the OMBA curriculum consists of a three-course block covering the language of business (marketing, operations and strategy), a block of three leadership and innovation courses, a two-course block in analytical thinking and four elective courses that allow for further specialization for today’s management jobs. Students can use their elective courses to focus on a specific discipline by pursuing one of the degree concentrations listed below or choose elective courses across concentrations to broaden their scope.
- Project Management develops comprehensive skills in managing projects effectively and strategically in modern organizations
- Sustainability Management explores environmental management and emerging trends in sustainable business management
- Finance equips students with the expertise to excel in diverse financial roles and industries through case analyses and real-world examples
- Financial Analytics builds advanced skills in financial data analysis and technology through hands-on instruction in setting up and working with databases
- Financial Engineering provides a mathematical foundation for understanding modern financial theory and covers risk management and the computational tools used by financial analysts
- Information Systems cultivates the skills and knowledge to leverage new technologies for innovation in their organization and covers the issues surrounding information technology architecture design
- Business Intelligence & Analytics equips students with analytical and strategic skills essential for navigating and leading in today’s business environment
Students in the OMBA program also participate in two required in-person learning experiences in the NYC region. Through these invaluable weekend immersions, students learn about the disruptive technologies in the “fourth industrial revolution” (4IR), such as artificial intelligence, quantum computing and IoT. They also have the opportunity to network with their classmates, meet faculty and administrators, and gain insights from industry leaders and business executives.
Next Steps: Applying to the Stevens MBA
Leaders with technical competence are in high demand in today’s workplace. If you want to develop the technical expertise and leadership skills invaluable to organizations, Stevens technology-focused OMBA equips you with the emotional and analytical intelligence needed to advance and excel in today’s tech- and data-driven world. Contact an enrollment advisor for more information about the Stevens Online MBA program, or start your application now.