Almost everybody agrees that the prospect of getting to the top in managerial positions has only increased with the passage of time, though traditional MBA has not remained the same as it was in the beginning. If one earns an MBA, one’s salary almost doubles and perks increase accordingly. An MBA gives one confidence to work confidently in any industry. One can learn about business strategies and concepts, not just on paper, but the training and internship required in an MBA course teach how to use these skills in practical life and in day-to-day business operations as well. This is why it has become one of the most sought-after qualifications in today’s corporate world. Worldwide, the best business leaders consider an MBA degree as key to the continual success of careers in sectors like manufacturing, engineering, business, education, health care and other service sectors. It is because of the fact that fast moving and tumultuous business scenarios are making Management education evolve and adapt to the needs. An MBA degree is, in fact, a tool which equips one with the skills that help in reaching top managerial positions in large or multinational organisations. At the same time, it is also needed for individuals joining smaller companies with promise of growth as well as for those who have to successfully run their own enterprises.
The MBA and your Career
An MBA opens new avenues and equips one with new skills in the workplace. This is one of the main reasons why people, who are already employed, aspire to have an MBA. It has abundant potential for those who are seeking to switch their career or looking for advancement in already established career. There are some companies which agree to sponsor their employees to get an MBA degree, provided they continue for a specific time, after they get the degree, for their sponsors. However, some students will not be lucky enough to have a firm job offer already in place once they have graduated, so it is important for students to be aware of their ambitions and goals regarding their career, as to what sector of business they hope to thrive in and the career opportunities that will be available to them as an MBA degree holder.
In addition to the skills outlined above, you are likely to have developed the following skills to a high level through an MBA:
An MBA gives one confidence to
work confidently in any industry.
One can learn about business strategies
and coiicepts, not just on paper, but the
training and internship required in an
MBA course teach how to use these
skills in practical’ life and in day-to-day
business operations as well.
- Improves your credibility and commitment level
If you acquire an MBA, it becomes evident that you are committed to the business, for in order to have the degree you must have invested a lot of energy and time. It also shows that you take your job seriously and try to broaden your perspective and want to add value to your present skills. Those skills can help you to become innovative which is a must for growth so far as business is concerned. An MBA also indicates that you have mastered a certain level of knowledge in business management, which gives you the ability and confidence to speak on equal terms with executives outside IT. Because IT touches nearly every part of the modern business enterprise and because IT managers are increasingly involved in business processes, the MBA adds credibility to your perspective when you are discussing technical solutions to business problems with your colleagues.
- Develops business acumen
Business people and technologists are different from one another. Unlike technologists, business people think in terms of strategies and value, and human (customers’ and investors’) responses. On the other hand, technologists always think in a linear and logical fashion and their responses are often predictable, because they are in scientific progression. The business perspective, by its nature, tends to rely more on estimation, and trial and error. The ability to think like a business person is critical for technology managers, especially those of us who wish to position IT strategically within the company. That information is alone called for in a fast-changing business scenario which supports the plan, design and execution of business strategies.
GAINED BY MBAs
The transferable skills derived from study for an MBA include the following:
- Academic achievement : demonstrates application and high standards of performance;
- Communication skills : listening, speaking carefully and clearly, the ability to put across your arguments fluently in writing;
- Analysis : distinguishing relevant from irrelevant information, identifying issues and problems;
- Commitment : seriousness of purpose,
demonstrated both by taking time out from your career on a reduced salary (or no salary) in order to improve your qualifications and by combining work and part-time study;
- Practicality : realism, ability to set attainable goals;
- Maturity : tenacity, independence, organisation;
- Decisiveness : fact-finding skills, clarity, judgement, courage;
- Intellectual creativity : the ability to develop new concepts and ideas;
- Capacity for hard work : embodying self- motivation, self-discipline and time management;
- Group skills : teamwork, leadership, ability to motivate others;
- The mastery of IT skills : knowledge of statistical packages, spreadsheets, databases and programming languages;
- Cross-cultural awareness : working with fellow- students from many different regions and backgrounds.
- Prepares for leadership roles as problem-solver and decision-maker
It is observed that people with an MBA degree are more confident, exhibit greater credibility and are able to influence other workers. They are able to handle a crisis situation with a better ease than the others. An MBA provides analytical frameworks, such as risk assessments, cost-benefit analyses and strategic plans, that you can apply to any problem or opportunity you encounter, whether in or beyond IT. An MBA enables you to develop an approach which is necessary to have an edge over others in the academic environment which is highly demanding. As one course is related to the other in some way or other, the skills you learn through Management education can be applied to a variety of situations, irrespective of the nature of course.
Qualified MBAs are frequently hired by companies, as global financial crisis has forced them to change their focus, as far as expansion and change in rebuilding strategies are concerned. The curriculum has also changed, with most of today’s courses including topics such as change management, business ethics, sustainability and leadership skills. Learning tends to be in groups with students working on real business projects and, at the same time, discovering the challenges of working in multicultural teams. And today’s MBA students are far more diverse, coming from a range of employment sectors and with wider career horizons. Now, over 70 percent of MBA graduates are working outside the traditional fields of finance and consulting, and a significant proportion is choosing to work in small businesses.
An MBA provides you with a unique trait,
giving you an edge over others. An MBA
not only gives you an impetus in your
existing career, but also enables you to
switch over. An MBA degree serves as an
entry ticket to many organisations, whose
doors are open most exclusively for MBA
graduates, as it has been firmly
established that the degree provides
tools, techniques and resources
needed to run a business.
An MBA hones the cognitive skills of an individual and grooms his/her personality. Most importantly, it helps you discover the real ‘you’. It gives you the opportunity to think in the direction you want to. It is possible that whatever goal you may have had before joining an MBA programme, may change after you join. The classroom experience, interaction with peers and faculty, student activities, etc. broaden your perspective, both personally and professionally. An MBA infuses independent and original thinking into the students, which helps them in handling the demanding situations later on.
Career Advancement or
A professional, with his hard work and performance, strives to reach a decent position in the organisation. But, in today’s performance-oriented professional world, most of the people around you may possess same credentials as yours. In that case, an MBA provides you with a unique trait, giving you an edge over others. An MBA not only gives you an impetus in your existing career, but also enables you to switch over. Maybe, you have made up your mind for a switch over—from marketing or sales to strategic planning or finance, for example. You could be looking to change your career path altogether. Using an MBA to switch career focus is a typical strategy. Many people seek a management position after acquiring expertise in an altogether different field such as nursing, teaching, performing arts, or engineering, because they want to shift to a management position in their area. An MBA can hel^> you make a major break or leap in your career path with a concomitant leap in income. You may aspire to an area that “requires” an MBA as an entry. An MBA degree serves as an entry ticket to many organisations, whose doors are open most exclusively for MBA graduates, as it has been firmly established that the degree provides tools, techniques and resources needed to run a business.
Specific Management Training
The MBA is also preferred by those who want to obtain specific management training and gain expertise in a particular area. Although the MBA is a general management degree, most programmes provide opportunities to study one or more areas in greater depth. Investment bankers typically concentrate on finance in their MBAs, for instance. But if you have a very singular focus on a particular field, you may want to consider some alternatives such as a specialised master’s programme, course work as a non-degree student, or non- university-based courses, seminars and workshops. If you need to learn
something about a few specific topics, consider an executive education programme. An executive training programme is often designed to equip you with the knowledge you require for career enhancement. This training programme consists of workshops or seyninars that can be of a few hours or may go on for several days.
Why Get an MBA Degree?
As we have already discussed, the MBA degree is awarded to an individual who is thought to have mastered the art of business. In addition, it adds to that individual’s intellectual capability in the world of business across the globe. Students of MBA programmes study the theory and application of business and management principles. This type of study equips students with knowledge that can be applied to a variety of real-world business situations.
The main reason to attend school is to increase your salary potential and advance your career. Because graduates who hold an MBA degree are eligible for jobs that would not be offered to those who hold only a high school diploma, an MBA degree is almost a necessity in today’s business world. In most cases, an MBA degree is required for executive and senior management positions. There are some companies which will not even consider applicants, unless they have an MBA degree. People who hold an MBA degree will find that there are many different types of employment opportunities that are available to them.
Most degrees are obtained with the purpose of advancing your career prospects and job opportunities. The same is the case with an MBA degree; the only difference being that an MBA degree is considered as the most valuable postgraduate degree
in the world and has exciting career opportunities. People pursue the MBA programme in order to further their careers in their current jobs or to get a better job on the basis of their MBA degree. Even within your existing company and in your current job, you can notice the difference in your career prospects pre- MBA and post-MBA. Equipped with an MBA degree, an employee feels confident of marching towards a fulfilling career. He/She can attain high managerial positions, as he/she is in possession of additional knowledge of the intricacies of business and his/her problem-solving ability is enhanced manifold.
The global economy is very mobile and ever evolving. Its nature is decided by the market across the globe which itself adopts concepts and strategies in tandem with the changing needs. Any advancement in the technology percolates into the economic set-up as well, giving rise to the need of professionals who are well acquainted with the new trends. What is equally true is that for the first time, the world economy is truly global, where what happens in one part of the world is not only known almost simultaneously to the occurrence of the event, but the impact can be felt as well. Customers and competitors are no longer relegated to the geography that surrounds them. In fact, many businesses no longer have a traditional brick-and-mortar operation. Challenges of globalisation, new technologies, industry restructuring, increased public scrutiny, and other pressures on today’s businesses require change in skills and orientation of modern managers.
An MBA works wonders as far as developing confidence and professionalism is concerned. With confidence and professionalism, an individual is able to march ahead of others in the highly competitive business world.