Entries Tagged 'MBA Everything' ↓

Importance of MBA & its necessity in today’s scenario along with the perspective of employers & students towards MBA.

People at the beginning of their careers, irrespective of industry sector, tend to specialize. Most will concentrate on their particular role, such as sales or marketing. Some focus on gaining a professional qualification, such as Chartered Engineer or Accountant. If successful they can rapidly develop to become respected professionals in one area of expertise. These areas are, however, typically of a specialist nature and a career move to a new organization may not offer enormous career development opportunities or increased responsibilities.

Business schools increasingly recognize that today’s global company requires managers with a broader outlook. They have therefore made great efforts to internationalize their MBA programmes – by attracting overseas students, employing faculty members with overseas experience and forming effective links with business.

As a result of globalization you can learn wherever you are by downloading teaching materials and communicating with tutors and fellow students on the Internet. E-business MBAs extend the length of time used for learning and are convenient for those who find it difficult to travel to the business school.

During the MBA Studies you and your colleagues form bonds that will most probably stay forever, the outcome being, on top of everything else: “speaking the same language”. This network will be fruitful throughout your working life and beyond, and often you will find your colleagues from the least expected corners of the world.

The student perspective

Unlike other masters degrees the MBA is both a postgraduate and post-experience qualification. It is not appropriate for the recent graduate who would be better advised to either defer MBA study until a later date, or undertake a specialist master’s degree.

The MBA aims to build on the foundations of work experience and, by providing new skills and knowledge, to enable the student to make the transition to a higher level of responsibility. MBA students typically will have made significant career progression for a number of years after their first degree. In many cases they will have gained a professional qualification and/or a specialist master’s degree. They should have an in-depth knowledge of either a function or role and a specific industry sector. But they will typically have limited prospects of further career progression as they are, essentially, specialists, i.e. ‘the accountant’, the HRM manager, etc.

The MBA does not pretend to make students experts in all of the various functions of an organization. What it does is to provide sufficient knowledge for them to understand the various facets of an organization so as to formulate successful strategies. It also instills a great deal of confidence. In effect the MBA is capable of being a general manager with the potential to reach a position at board level.

In some industries the MBA is now not so much a desirable attribute, but an essential qualification. Most notably this is the case in consulting and finance. To progress in these industries, not having an MBA is a huge disadvantage. In many companies it is not only a required qualification but they also have a limited list of schools from which they will recruit. Surveys find that increasing numbers of finance directors are MBAs. A glimpse at the Association of MBAs handbook of members shows MBAs in just about every conceivable area of employment.

The Employers’ perspective

The popularity of the MBA with employers is that it is a recognized ‘currency’ in the human resources marketplace. Employers know the value of the qualification and what they should be able to expect from an MBA, irrespective as to whether they studied in North America, Europe or elsewhere. They also recognize the commitment shown by MBAs in investing heavily in their careers. Such candidates are likely to be dynamic self-starters who will be an asset to any organization.

Many organizations have a structured programme for developing key staff. This may include an in-company or consortial MBA programme and in some cases it might even include sending employees to business school in order to complete a one or two-year MBA study. In most cases they look to other modes of study. It is significant, that in the UK, over 50% of all part-time and distance learning students are fully sponsored by their employers. A further 30% receive an element of support from their employer. This is because the organization has much to gain from MBA sponsorship. It benefits from the newly acquired expertise, from the enthusiasm of its sponsored personnel and from retention of key personnel. Sponsored employees are unlikely to leave the organization during the period of study.

An MBA from a good school will certainly open many doors, but one from the wrong school may have the opposite effect. But even in the cases of good schools, possession of an MBA cannot, in itself, guarantee career progression. Only successful utilization of newly acquired MBA skills and expertise can achieve this end. Research undertaken by the Association of MBAs clearly demonstrates that MBAs do exactly this. The MBA offers the ambitious manager a wider range of career opportunities and the chance of both increased responsibilities and a higher salary.

Graduates today want to be an MBA, but have little idea what a manager really does. Most students are attracted to a management education at top business schools because of the high pay packets they get at the end of it.

Sure, it is a brilliant career to pursue, but if your ultimate aim is to stuff your pockets, you might just cut a sorry figure in your future life or, for that matter, even in your Group Discussions or interviews.

Do you have a goal?

Many students who make it to the best B-Schools do have a purpose or a firm goal. You will be astonished to know that, every year; about six to eight percent of the graduating managers from top B-Schools join startups because of the tremendous learning opportunities that startups provide. Almost an equal percentage of students join NGOs or social service organizations. If you know your goal, two years at a B-School becomes a path to your objective and your learning is more focused.