The MBA or Masters in Business Administration is a two-year educational degree available to students from diverse educational streams, with applications accepted from a wide range of backgrounds. The emphasis is always on cultivating business and management-oriented skills, with MBA concentrations available in Finance, Marketing, Global Management, Human Resources, E-commerce and many more. Used well, the MBA can provide a significant advantage in pursuing an upwardly-mobile career path in business.
Developing management skills
Not all of us are equipped with management skills, and indeed the best leaders often deal with self-doubt daily, yet we also often feel the wish to develop them. One of the core areas an MBA can help with is in systematically developing the skills and confidence to assume leadership roles, whether in managing a business or maximizing future opportunities of success in almost any role. Management skills are applicable at all levels of an organization, and applying for an MBA course sets you on a path of leadership not only defined by salaries and job titles, but by an enduring skill set that empowers you to contribute positively to social and economic growth as a whole. Also while the MBA is typically targeted to the 26-30 age group, even MBA candidates over 50 have experience outstanding ROIs, as in the case of a 55-year-old senior law firm partner who enrolled at Northwestern University’s Kellogg School of Management.
An MBA also equips you with the skills and qualities needed to function as an entrepreneur. The survival and growth of your own company or the company you work for may to a significant degree depending on your skills, and an MBA hones those skills to make you a competitive force for growth. Some of the factors involved are:
- Manufacturing, advertising, and selling of products
- Keeping a company financially strong
- Maintaining goodwill between staff, clients, board members, and third-party providers
- Keeping abreast of industry trends
- Working with the right people at the right time
- Creating hierarchies to help the company thrive.
- Making tough call decisions and having both the conviction and adaptability to make changes and take the right decisions when required.
An MBA aspirant takes the leap and intentionally goes out of his or her comfort zone to excel in the above-mentioned skills.
Access to a large business network
Networking is an important factor influencing the careers of MBA aspirants. Your classmates, batch mates, professors, and other faculty members will all help in developing networks, and through them, you can channelize your capabilities and benefit from mutual growth. Arguably the most important factor in personal growth is to be surrounded and connected with people at a similar or higher level of growth than you are, collectively pushing boundaries and generating a culture of growth. The practical knowledge, experience, and connections gained from the education milieu of the MBA can be outstanding.
Startup culture has changed significantly in recent years and the approach to startup business models is constantly evolving. Especially with an MBA in hand, it is not mandatory for you to get a job, and if you have the drive, creativity, and execution then you can work on your own startup. There are of course numerous successful startups that have been founded by entrepreneurs both with very strong academic backgrounds and those without even a high school diploma, one inspirational story can be found here where a 28-year-old female MBA candidate started a successful business while studying for the MBA at the same time. The MBA experience is applicable to essentially all levels of business.
The MBA in India
Every year tens of thousands of students apply for MBA courses in India, and also perforce the accompanying GMAT where Indian students average actually higher than their US counterparts. However, especially when studying in India as opposed to applying abroad, focus on the actual career path that an MBA may offer you follow matters. A very relevant post from QZ.com shows how only 40% of MBA graduates are employable, and highlights the dearth of education in India that is good enough quality to provide students with real-world skills that make them both competitive and employable. The goal then is not to get an MBA in itself, but rather to gain an MBA that can serve as a tool in your unique career path, an MBA that offers real-world service opportunities and which can contribute to lasting personal and business growth. Good luck in your path of learning and enduring success!