MBA is becoming more and more popular amongst students from all streams with each passing day. The program has, with time also become one of the most pursued and sought after course that students today are investing their future in.
The degree has gained more and more importance throughout the years. The benefits of an MBA degree are multifold - not only they help you climb higher and faster in the corporate ladder - but they can also be beneficial for young entrepreneurs.
Pursuing an MBA in order to advance one’s career makes sense. After all, most firms look for potential employees with not only skills to perform the job but also provide sound thought around making business decisions. No matter which industry you serve, public or private, the same foundation of business principles apply. These include strategic, operational and tactical decisions. Driving operational excellence is a must to drive future growth in your business.
The majority of current MBA students are part time whether online or in a traditional program. In addition, the MBA student has professional experience in their chosen career. This may be technical or business related such as finance, sales or marketing.
⦁ The key characteristics of an MBA program enable the student to gain the appreciation for a system, in this case what is required to transform an input to an output. Regardless of your background, technical, business, or liberal arts, the MBA will provide you the necessary learning to run a business. In addition, the MBA provides a safe learning environment for the student to practice and hone their business skills.
⦁ An MBA serves as an enabler to higher levels of management. If you scan the professional job sites you will see an MBA is required to even be considered for open management positions. This shows the prospective employer that the applicant has been “certified” in the advanced concepts of running a business.
⦁ Yes, you can make more money! Studies have shown your investment make be recovered within 4 years of the investment. Even a shorter period of time if you receive tuition reimbursement from your current employer.
⦁ You can use this education to launch your own business. There are various schools of thought that budding entrepreneurs may not need a formal education to launch the next great idea. I will agree timing is critical on new product launches. But for many technically driven entrepreneurs being able to compose a sound business plan and have a thorough understanding of the key components an MBA is a good idea.
⦁ The MBA gives students the opportunity to sharpen their managerial skills as well as soft skills. Working on teams and analyzing companies in real world settings better prepares the student than simply experience. Think of this as the business “learning curve”!
Making a decision to pursue an MBA should not be taken lightly. After all it is a significant decision involving financial commitment and time.