Why MBA?
An MBA (Master in business administration) is a highly prestigious and recognized degree internationally. If you’re a graduate working in business and looking for managerial experience or looking for a better understanding of business. MBA degree not only intensifies your career path and salary while it also diversifies your network range, you get the opportunity to interact with a different range of people. It covers a range of different business areas like accounting, economics, marketing, management, and applied statistics.
In today’s digitization and disruptive change, MBA can excel your career path from the traditional method of working to the new business environment and help businesses cope up with change and objectives are subject to support and align all contexts of the company.
What Does MBA involve?
MBA involves multiple curriculum (e.g.- Marketing, finance, accounting, business analyst) which allows students to pursue career interests. Courses are intensive and project-based on case studies, group activities, and a wide variety of skills which include strategic planning, leadership, operational management, and analytics. Apart from knowledge and skills it enhances your communication skills, makes you your boss. You can start your business, startups after getting the degree. You will know exactly how to approach marketing, investors, and the target audience. If you acquire an MBA degree from a top B-school you will see a boost in your salary from your current job.
Studying MBA focuses on the latest international business trends, applies management tools and teams, and improves your business teams and collaborations. It is a great way to understand the business-changing environment. The abilities you learn are unavoidable with the change of industry. If you are looking for a change in the technical domain, an MBA could be the best way to achieve your goal.
Skills that will accelerate your MBA career
Leadership and Teamwork
In any work environment for expertise/ team leaders should have the ability to work with a diverse group of people and have a clear understanding of individual team member’s approaches. Understanding your audience and flexibility to collaborate with different people and ideas make highly effective, confident trust leaders. In the current research, it has been observed that a team whose members acknowledge the expertise is much better than the controlled hierarchy.
Prioritizations and Strategy
The ability to prioritize your task or get anything done is time management. You must know how to manage your task with time and prioritize your work accordingly. Depending on the task to be delivered before the deadline.
Understand Digital Impact on Business
A Forbes analysis has found that with inevitable digital impact on business 84 % of companies don’t have the required infrastructure to cope with the anticipated level of disruption or the required talent. The rate at which we are disrupting traditional methods makes it difficult for people to adopt new methods of technology and business skills. MBA mostly focused on fundamental studies, approaching new methods of problem-solving. Today along with technical knowledge you require business knowledge too. Chief executive of General Motors Mary Barra says the success of the industry is dependent on how easily people adapt to ever-changing customer and contextual needs.
Ability to solve the complex problem
An analytical approach and a logical mindset are the key skill sets that can accelerate your career to another dimension. Every problem is broken into different approaches to solve problems, see the problem from different angles and must have multiple approaches to solve it.
No matter what domain you are in marketing, finance, operation, or auditing you should give multiple different paths to approach a problem.
Acquiring MBA degree acumen, you in different areas on how business works from inside and outside i.e., in dealing with either customers or employees.
Network
MBA allows you to elevate your network inside and outside the professional business world. You meet a diverse range of people from different fields and understand their nature and way of thinking. Networking skill is not formally taught as the course, the opportunity to learn and meet new people improve your interpersonal skills and business success.
Also Read: Jobs after MBA in India | High paying jobs Post-MBA
Types of MBA
There are different types of MBA but the one fits you depending on your experience level, career goals, and life circumstances.
General MBA
This involves managerial, business skills in a variety of sectors. Core modules are finance, operations, management, and organizational behaviours. You can do some projects and gain practical skills to justify degrees. You can take this course if you have relevant 3 years of managerial work experience. You can easily manage budget, product, or people in your organization on achieving these skills.
Specialist MBA
People who want to work in a certain sector and want to excel in that sector could choose this. This course focuses mainly on aviation, biotechnology, and sports. If you are working in such a domain, I would like to get promoted to a higher level. You may choose a specialist MBA and make a career in a particular sector. People who are young graduates with 2 or fewer years of experience.
Executive MBA
This course is the advanced level of General MBA where it gives higher exposure to practical knowledge on leadership, boardroom environment. They are generally studied part-time keeping your existing day job. It’s perfect for people having five to ten years of relevant work experience. The people who are looking for a senior management role in the company or looking for quick career growth.
Distance Learning MBA
This course is a part-time course allowing the student to study in their own time from wherever they are. Materials and support are provided and an average of 20- 21 hours per week are expected to study. This course is for students who are fit to study in continuation with other commitments. Relevant to people with five or more years of work experience.
Also Read: Which course is better, MBA or PGDM?
MBA subjects that are in great demand
Because of international popularity, MBA has got a variety of different subjects
- Business Analyst- One who conducts market analysis, analyzing both business and product in the line. Strong knowledge of technology, analytical tools, and communication skills.
- International business – Great if you are looking for working abroad on global business at different locations.
- Marketing -Focuses on product and promotion of those products.
- Finance – Great for bankers, financial controllers. The course will focus on statistics, data, and analytics
- Entrepreneurship – If you have a business idea and looking for establishing that idea into reality
- Operation Management – Ideal for managers who are in charge of optimizing production processes
- IT management – Prepares you to work in the technology sector or do business that heavily relies on companies
- Human Resources – Focuses on managing team conflicts making company a better place to work, have to deal with employees’ candidate who could be recruited
- Consulting – provides expert opinions for challenges faced by the companies.
How long will it take to complete (course duration)?
This will depend on whether you take the part-time or full-time. If taken full time in India, it will take 24 months including an internship. While abroad it could take a 12 months course depending on the college.
Choose your college
You can either go for an online/ executive MBA or a Full-time MBA. Online executive MBAs are beneficial for professional working employees having five or more years of work experience who would take an MBA as their part-time course and will spare some time from office timing and extra time on weekends. While students who want to go for a Full-time MBA would choose accordingly. Depending on your financial situation and time commitment.
Most business schools are designed in a way that helps you gain knowledge about your strengths and weaknesses along with academic studies. However, every b-school is unique and has different goals. You better talk to alumni from that college and discuss with them what are your reasons to take MBA. LinkedIn, social media are the places where you can easily connect with them and could focus on the visions of these B-schools.
Benefits of MBA
MBAs are highly respected jobs worldwide. This makes them great assets for the business professional looking to build a career.
- Develops your skill
- Boost your financial stability
- Makes you more eligible for promotion
- Builds wider connections
- Prepare you to become more attractable as an employer
- Be your boss
- Enhances knowledge
- Personal development
- Enhances communication skills
I hope I covered all aspects of accelerating your career in MBA. Please give suggestions on the topic.
If you wish to upskill in this domain, check out Great Learning’s MBA courses. Learn with the help of mentorship sessions and gain access to Great Learning’s career support, interview preparation and resume building sessions too.
Thanks for reading!
