In the field of commerce and business, having a Masters in Business Administration (MBA) has become popular.
Recognizing the value they bring, more and more companies are sponsoring their employees’ MBA studies, and even providing time-off to complete the studies.
This is the continuation of a long-term trend. In the last three decades, employees across broad fields of work are on a quest for better knowledge. Every corporation, industry, business owner, and ambitious person wants to stay current and make sure they are not left behind.
What is an MBA?
An MBA is a post-graduate degree that trains and enhances business inclined people. It increases their knowledge on how to build businesses from scratch and boost existing ones. Some universities offer MBAs with majors in specific domains. This gives candidates the opportunity to gain in-depth knowledge in a targeted field.
Over the last few decades, many corporations and industries have made MBAs a major requirement for their senior employers. Many young graduates and professionals believed that in order to ascend the professional ladder, obtaining an MBA was indispensable. Young entrepreneurs and business owners did not want to be left behind. The zeal to stay on top of one’s game and to acquire more knowledge was to obtain an MBA.
Is an MBA, however, worth all the stress?
What do you study?
To enrol in an MBA, most institutions and universities require at least two years of relevant work experience. This is because most, if not all, of the courses are very participatory and very practical. Candidates and participants are expected to share their work experiences with one another while learning new ideas as well.
There are major and minor courses, but most universities will include the following subjects in their curriculum:
- Financial Accounting I & II
- Managerial Accounting
- Quantitative Business Methods
- International Marketing
- Business Law
- Negotiation
- Advertising, and
- Human Resources Management.
Some specializations that you might study include:
- Entrepreneurial Management
- Communication and Public Relations
- Banking and Finance
- Leisure and Tourism Management
- International Business, and
- Banking and Finance.
What do you learn?
The world of work is changing fast. Many jobs that exist now did not exist even 10 years ago. Everything is going digital. And knowledge is power.
To help a business stay in the loop and grow, hiring qualified employers is a must.
The skills and experience an MBA graduate brings to a company include:
- Analyzing a problem from many different perspectives
- Finding solutions and opportunities in almost every challenge they face
- Being spontaneous when coming up with plans and strategies that will enable them to resolve current issues and future projects, and
- Handling complex projects with confidence.
How do you apply what you have studied to a real business?
An MBA enables you to strengthen your business judgment and the way you analyze situations.
It provides strong human resource skills as a manager, such as recognizing the right person for a project, how to identify synergies among your team members' skills and personalities, and how to use the information and data gathered to make the right decision.
To this day, I still make use of everything that I learned. I can apply my Human Resource Management and Marketing skills in different fields and have the means of resolving issues in an efficient manner that benefit both the company I represent and the team members I work with.
Moreover, after acquiring an MBA, you've become an administrator! It is an opportunity to lead, initiate policies and goals, handle a business from scratch, and take major decisions that are critical for the corporations. You can't help but think smart and be on top of your game.
Sources:
“MBA salary rise Worldwide”, Florida International University. 26th August 2019
By the Numbers: 10 MBA Statistics, Leavey School of Business
Further Reading:
'Access MBA' – Your First Step To Admission
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