Many people say that you don’t need an MBA degree to be a successful businessman. Yes, it is true. There are many famous business people who never went to any business schools, like Bill Gates, Walt Disney, Steve Jobs.. the list is huge. They all got massive success in business world without any MBA degree. It is true if you want to invent some new gadget or develop any great software or social network like Facebook, you may not need to go to business school. But on the other hand, if you want to manage complex operations, understand financial instruments or lead a company then going to a good business school is probably a good idea. See this video.
Today, most of students wants to do MBA after graduation, after joining, after any course, even if one is working, they think of doing MBA later. But what is the reason of this. Today in this article I want to share some points why one seek for MBA more than any other? No sector now is exempt from the influence of the MBA. Over the last decade the MBA has firmly established itself in the non for profit sector: health, charities, local government, the civil service, education, law and even church management. The latest trend appears to be the popularity of so-called ‘dot-coms’ and entrepreneurship. A disproportionate number of these areas are the brainchild of an MBA. In some cases, the have been ex-students who have dropped-out to launch a successful project whilst at business school.
Today worldly state stresses the importance of higher education though we had achieved certain success in career wise. One of the most recognised degree is MBA, which stands for Master of Business Administration, has been one of the most extensively pursued master’s degree across the globe. Usually, it has been now labelled as a ‘preferred’ qualification or as a requirement now in work resume. 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. Through MBA filtering process, the best students with the best reputation can be selected from a pool of candidates.
Of course, that means candidates with a highly record of excellence and achievement is highly favoured and most likely to be recruited. With the degree, we can too, conclude about the drive of the person that holds it. Sometimes, they are the full time working professional who willing to spend their time to pursue the higher education. It’s such an accomplishment to manage both career and education swiftly. It is said that the degree is a must as it guarantees professional qualification, which is a demand from industry. If you are a successful holder, it does give the eligibility and also means that you have obtained the theoretical base for building the practical achievements. It also could be the way to change your career path and set up your own business.
Well, research has shown that the failure rate for small businesses started by an MBA is about 50 percent less than the standard failure rate. 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 masters 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. We all know that the successful MBA foundation is phenomenal as its curriculum consists of finance, marketing, statistic and others that make a successful candidate to be included in preferred category. It is because they have ability to think broadly about business decisions and switch forth and freely to adapt to different needs and environments.
No matter what the importance is, approach the studies with an open mindset and correct attitude and it can develop oneself into full capacity. MBA also teaches us issues about how we can build up a successful portfolio of business knowledge and skills and network of colleagues and MBA alumni. Identification of business problems can be addressed and analyzed more consistently. Communication skills in individual and teamwork aspects can be strengthening in a long run. People management skills can be mastered as usually the person who deals with the customers mostly influences the business deal. First impression is important, and a second impression doesn’t count. 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 MBA does not pretend to make students experts in all of the various functions of an organisation. What it does is to provide sufficient knowledge for them to understand the various facets of an organisation so as to formulate successful strategies. It also instils 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. The degree and value of professional expertise and knowledge to be found among the students on a typical MBA programme cannot be underestimated and the quality of the student body is an excellent indicator of the quality of the MBA programme itself. Students often report that half of what they have learnt has come from their well-qualified fellow students who are able to bring their experience of industry to bear in classroom and assignment situations. Fellow students will also become a career-long, invaluable networking asset. Employers and students alike should be wary of schools, which accept significant numbers of recent graduates as the entire learning experience on such a programme is seriously compromised.
It doesn’t mean you do MBA from anywhere, 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 utilisation 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.
MBA or degree of the master of business administration is one of the most important your business decisions. This scientific degree is necessary for all who wishes to work in business and management and wants career growth, possession of business or technical skills and business knowledge. Today often it becomes the first step of many students right after graduation as opens number of doors with good career prospects, considering a great demand on graduates MBA in the corporate world. But all it is right only for training at the best business schools.
Besides, advantages of MBA include:
Career advancement. It is unimportant, an engineer you are, a doctor or an editor, you can develop the career, being trained for MBA. This degree will help you with reception of higher or supervising post in your sphere.
Change of a field of activity – if you feel, that “you are in a right condition” to test yourself in other area, you can easily investigate all possibilities and choose the best variant in other sphere.
Start of your own business – degree MBA will well prepare you for drawing up of the business plan for reception of the starting capital and successful work of your company. According to recent researches, the percent of failures for small business, based by people with degree MBA, on 50 % is less, than standard percent of failures.
Strengthening of your knowledge and skills – program of MBA will hold you aimed at fast advancement of your career, offering to you chance to develop a wide spectrum of the general business knowledge and skills for very short time.
Fascinating career – with the updated knowledge, you can successfully build career in developing areas, for example, information technologies, electronic commerce, a brand management or a mobile communication.
Summary: importance of MBA is that this program can help to improve yourself, offering number of possibilities and variants. It depends on you how to use them.