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4 ways to prepare yourself for a Covid-19 impacted world with a business management programme

Posted on: 06th October, 2020

We’ve been living under the shadow of Covid-19 for nine months, and many of us have accepted that it won’t be going away anytime soon. The pandemic has lasted longer than the SARS epidemic, caused local unemployment rates to hit a ten-year high[i], and left thousands of fresh graduates worried for their futures.

How can you survive—or better yet, thrive—in such a challenging climate? Here are four things you can practice over and over to help you gain an edge, and mastery over this new reality!

1) Keep Your Options Open

During these uncertain times, why not venture out of your comfort zone and be receptive to job opportunities outside your industries of choice? Recently, a fresh Singaporean graduate with a degree in communications made the news for joining the funeral services industry[ii]—showing how jobs can be found in places we wouldn’t think to look!

If you’re considering a general business management programme for undergraduate studies, you’re making a wise choice. General business management programmes are incredibly versatile: they impart a wide range of applicable skills, as well as multidisciplinary business acumen, that are transferable and in-demand across various industries.

These comprise presentation and report writing skills, management skills, problem-solving skills, decision-making skills, as well as communication and interpersonal skills, to name a few. You’ll find that many of these skills can be matched to the 16 Critical Core Skills for all sectors identified by SkillsFuture Singapore, which have been deemed by workplaces to be essential!

For the interested, PSB Academy has a few general Business Management programmes that you can take a look at. These are the Bachelor of Business awarded by the University of Wollongong, the Bachelor of Business awarded by The University of Newcastle, Australia, and the Bachelor of Arts Business Management (Top-up) awarded by Edinburgh Napier University.

Here’s some information you shouldn’t miss out on! University of Wollongong and The University of Newcastle, Australia are the top 10th and 11th University in Australia (QS World University Rankings 2021) respectively, making their Bachelor of Business degrees ideal for those seeking a quality education. Edinburgh Napier University’s Bachelor of Arts Business Management (Top-up) is highly suitable for diploma-holders who desire to study while working, as it can be completed in 12 months after module exemptions (subject to the university’s approval).

You can also consider pursuing a degree* in other fields if you wish to reinvent your career by switching to the finance, precision engineering, electronics and biomedical manufacturing sectors, which have all fared well amidst Covid-19[iii].

*Honours degree options available for selected disciplines

Upskill

2) Upgrade and Reinvent Yourself

The upheaval caused by the ongoing Covid-19 pandemic to entire industries, and the workplace, has reiterated the need for us to continually upskill and reskill. This sentiment is shared by the Singapore Government, which has pushed out the SGUnited Jobs and Skills Package[iv] to incentivise hiring and skills acquisition of Singaporeans.

According to The OCBC Financial Impact Survey for COVID-19[v], 53% of working adults have been taking up more online courses during the Circuit Breaker period to stay relevant. This figure includes 64% of working adults in their 20s; take a leaf out of their books and stay competitive by signing up for a short professional course! Specially developed by PSB Academy for busy working professionals, these courses are held online** over the weekends and offered across a wide range of disciplines, covering in-demand skills[vi] such as business analytics and digital marketing.

Here’s some good news: NTUC members can enjoy funding through the Union Training Assistance Programme (or UTAP for short) for selected short professional courses offered by the School of Business and Management!

**Face-to-face learning will resume once safe distancing measures ease up

3) Enhance Your Qualifications

Further studies are a great option if you want to enhance your skillsets, or acquire specialized knowledge that will help you advance in your career and boost your earning potential. Today, the most well-known professional postgraduate course is the Master of Business Administration. It is especially popular with individuals who’d like to gain exposure to a variety of business functions in a short time, and foster meaningful connections with future corporate leaders across a range of industries from around the world!

PSB Academy currently offers MBA courses awarded by Coventry UniversityThe University of Nottingham, as well as The University of Newcastle, Australia. The University of Nottingham is a member of the Russell Group of research-intensive universities[vii], and is internationally accredited by The Association of MBAs (AMBA)[viii] and EFMD Global through the EFMD Quality Improvement System (EQUIS)[ix]. The University of Newcastle, Australia, on the other hand, is internationally accredited by the Association to Advance Collegiate Schools of Business (AACSB)[x].

Last but not least, Coventry University is the top 15th University in the UK (Guardian University Guide 2020) and has received a 5-star ranking in the QS Stars University Ratings[xi].

Finding it hard to decide between the four MBA courses? Do look through their respective course pages to find out which MBA best aligns with your goals, and feel free to drop us an enquiry if you need a little advice!

4) Save Every Cent

The Covid-19 pandemic has caused a major global economic slump, with Singapore and many other countries entering technical recessions after enjoying years of economic growth. As industries and livelihoods continue to be affected—an economist from DBS Bank has predicted that our economy may not get back on its feet until the end of 2022[xii]—it’s more important than ever to ensure your financial well-being.

If you’ve yet to do so, start building up an emergency fund equivalent to six months of your expenditure. Tighten your purse strings and review your budget at the end of every week: are there areas you’ve been overspending on?

Keep an eye out for things like promotions and course funding schemes too, which can help you manage your expenses and stretch your dollar! PSB Academy has various course funding and support schemes available that prospective students can leverage on, both for individual applicants and organisations sponsoring their employees.

Here’s a brief overview^:

Course Fee Support Schemes Key Information (T&Cs apply) Open to
Future Together Initiative (PSB Academy)
  •  Applicable to local students who enrol in selected PSB Academy courses commencing between August and December 2020
  • For more information visit here
  • Singapore-based students
Learning Never Stops Initiative (PSB Academy)
  •  Applicable to international students who enrol in selected full-time certificate and diploma courses commencing between August and October 2020
  • For more information visit here
  • International students
SkillsFuture Study Awards – Retail Sector
  •  Monetary award of $5,000 to defray course fees
  • Applicable to students who enroll in selected Diploma courses commencing before March 2021.
  • Study Award is subject to assessment. Enterprise Singapore reserves the right not to disclose the reasons for approving or rejecting any application, and to reject any incomplete or inaccurate application
  • For more information visit here
  • Singaporeans with minimum 2 years of working experience in the Retail industry
NTUC Union Training Assistance Programme (UTAP)
  • 50% unfunded course fee support for up to S$250 each year for selected PSB Academy courses
  • Applicants must achieve ≥75% attendance for sit for all prescribed examination(s), if any
  • Applicants must have fully-paid for their union membership before the course commences, and right until the point of claim
  • For more information visit here
  •  NTUC members
IRAS Course Fees Relief
  • Up to a maximum of S$5,500 in tax relief each year for courses relevant to your current employment
  • For more information visit here
  • Singaporean tax residents
F&B Digital Marketing Assistance Scheme
  •  Subsidised course fee payable per employee: S$272.00 (inclusive of GST)
  • Full reimbursement of paid subsidised course fees by PSB Academy
  • One-time S$500 bonus after completing the programme and one digital marketing campaign
  • Funding valid from 18 September to 31 December 2020
  • For more information, visit here

 

  • Up to 2 employees per F&B company

Do refer to our website for full details on eligible courses, how to apply, in-depth criteria and more!

^All information presented is accurate at the time of publishing.  

Were you blindsided by the Covid-19 pandemic? If you’ve been feeling lost and paralysed with worry, we feel you because we’ve been there, too. Try these tips out and always remember the wise words of Confucius: “it does not matter how slowly you go as long as you do not stop.”

If you’re planning to enrol in a PSB Academy course, we look forward to meeting you.. Until then, do take care and continue to stay safe!

_____

[i] https://www.channelnewsasia.com/news/singapore/unemployment-jobless-highest-10-years-retrenchments-mom-12835166

[ii] https://mothership.sg/2020/08/singaporean-fresh-grad-funeral-parlour/

[iii] https://www.channelnewsasia.com/news/singapore/singapore-economy-bright-spots-covid-19-jobs-employment-13020986

[iv] https://www.ssg-wsg.gov.sg/sgunitedjobsandskills.html

[v]https://www.ocbc.com/group/media/release/2020/ocbc_surveys_1000_singaporeans_to_assess_financial_impact_of_covid_19.html

[vi] https://www.linkedin.com/business/learning/blog/top-skills-and-courses/the-skills-companies-need-most-in-2020and-how-to-learn-them

[vii] https://russellgroup.ac.uk/about/our-universities/

[viii] https://www.mbaworld.com/business-schools/business-school-search/business-school-detail/uk-nottingham-university-business-school

[ix] https://www.efmdglobal.org/accreditations/business-schools/equis/equis-accredited-schools/

[x] https://www.aacsb.edu/accreditation/accredited-schools?F_Country=Australia

[xi] https://www.topuniversities.com/qs-stars