As defined by the Oxford Dictionary, a person who manages, controls, or administers a company and a group of people working as employees is called a manager. Master of Business Administration (MBA) is an academic stream that professionally trains management enthusiasts for a highly rewarding career in business administration or management. However, it has always been debatable whether management can be taught through academic settings (typical classrooms) as it is considered more to be an art rather than science.
Anyway, irrespective of different prevailing notions, an MBA degree is considered to be a gateway to the world of business management. Deciding to earn an MBA degree (Master of Business Administration) is one of the initial but crucial steps for aspiring managers.
Here’s why MBA is Really Necessary for a Good Corporate Career
MBA offers an Edge
The Harvard Business Review has recently released a comprehensive survey report. The survey was based on the ranking and in-depth analysis of the performance of more than 2500 CEOs the world over. What came out was really very surprising. The CEOs having an MBA degree ranked 50 times higher than those without the one.
Getting job-ready even before the course ends
An MBA degree plays a critical role when it comes to taking a big leap from a mid-level job to an important managerial position. This is because professional business schools work really very hard on their students when it comes to making them job-ready. Apart from doing their best on academic excellence, business schools employ dedicated, full-time recruiter squad along with career counselors extending help to students in finding the best placements.
Specially designed curriculum
The specially designed strategic curriculum of an MBA course that includes case studies, group discussions, hands-on exercises, quizzes, internships and a large number of other activities help students play their roles as effective managers.
MBAs attain great circumspection abilities
During the MBA course, a large number of business cases are discussed in an all-inclusive manner and these exercises provide students with great circumspection ability to confront and tackle similar situations in their professional life.
MBA prepares students to play larger roles on social fronts
The principal objective of an MBA course is not confined only to the acceleration in management carrier, rather it prepares and grooms management professionals who can take on any challenge coming their way, while proving their managerial excellence wherever they are deployed.
This way, apart from the professional domain, they are able to prove their mettle in contributing to society at large. A survey conducted by Bain & The company on around 2000 students pursuing MBA has revealed that 55% men and 70% of women are all set, by their frame of mind, to create positive social impact anterior to financial attainments.
The globally known big guns are also MBA degree holders
There are global and Indian business leaders respectively who have earned an MBA degree from premier business schools. Some of them are even leading the globally recognized fortune 500 companies:
Mary T. Barra, CEO - General Motors Company
Tim Cook, CEO- Apple
C. Douglas McMillon, CEO – Walmart
Mrs. Chanda Kochhar, former CEO - ICICI Bank
Indra Nooyi, Chairperson, and CEO of PepsiCo.
Sanjeev Bhikchandani, Founder - Naukri.com
Shikha Sharma, former MD & CEO, Axis Bank
Although, the curriculum of an MBA course as per specialization might be different, but narrated below are some of the commonest competencies which students develop as per the nature of the program chose:
Great people management and leadership skills
Ability to create demand for particular products, advertise and sell them
Network development, connection creation, and partnership building
Ability to tackle hard situations, be it a financial crisis or any scandalous scenario
Ability and understanding to keep the company’s financial health in the pink of condition always
Capability of maintaining the company’s image always in a positive light.
Hiring and interviewing top talents and boosting up employee retention
Take stand with tough calls as and when needed.
Thus, the feeling of accomplishment as well as a skill set which students attain by achieving an MBA degree act as a great confidence builder as they move forward to the professional world. By earning an MBA degree, an individual not only learns to make a perfect balance between personal and professional life but also shines equally well in the corporate world. What matters much is the institution of repute that offers an MBA with almost all the contemporary specializations in top MBA colleges.