Go Ahead For Mba: For A Brighter Future

By Author: Ankita Gupta
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Be a qualified management degree holder is very important in today’s market. Making the decision to get an MBA or any other management degree like PGDBA or PGDBM online is a difficult yet important decision. Increasingly competitive working environment and Indian corporate houses are demanding more education and business skills from employees, managers and executives than ever before. While a traditional MBA may seem the ideal choice to gain a competitive edge it is becoming more and more difficult for working adults to go back to college for two years to earn an MBA. PGDM courses in Delhi NCR
The online MBA programs, designed for working adults, have number of dynamic, convenient and highly focused MBA degree options. No matter in which state of India you are living in online MBA programs offer the opportunity to earn an MBA degree that will carry significant value in any organization's hiring and career advancement decisions.
Why a management degree, why an MBA?
• This degree is the perfect degree to help you prepare for a career change. Whether your ...
... interested in a career in business, technology or health care employers in just about any industry are always hiring MBAs.
• An MBA degree will help you increase your earning potential. MBAs can earn up to 50% or more than there non-MBA colleagues.
• An MBA will teach you the skills you need to launch and grow your own business. Best PGDM colleges in India
• With a globalization of business companies need managers and executives with an understanding of global management. An MBA is the ideal degree to teach you the skills to manage business in a global environment.
• Earning an MBA is a great way to network. Not only do top companies recruit from MBA schools but the contacts you make with other students are invaluable.
What is an MBA?
The MBA (Master of Business Administration) is an internationally recognised and geographically portable post-graduate, post-experience academic course in a number of subjects that together can be said to constitute the science of management.
It is intended for those who work in business and management who seek career advancement, business ownership, or technical skills and business knowledge. The challenges imposed by the 21st Century place a high premium on upgrading skills and qualifications in order to meet the demands set by companies, customers and the environment that managers operate in.
Management areas
Functional areas of management comprise: Human Resource Management, Operations Management, Marketing Management, Information Management, Financial Management, Strategic Management and Organizational Behavior. At the end of an MBA programme, the graduate emerges with an upper level knowledge of functional managerial and business issues as well as new conceptual skills ready to meet the demands that are set by the competitive business environment.
However, in addition to developing strong technical skills, today’s managers must be able to influence people, interact with a broad spectrum of colleagues, customers and suppliers; and negotiate with individuals from all walks of life. They must know how their company relates to competitors in both the micro and macro business environments.
Prior experience essential
The MBA programme, which was first launched in the US in the 1950’s as a two-year post-graduate course and exported to Europe in the 1960’s, was initially rejected as irrelevant to the world of business and the schools were viewed as second rate.
Albeit, the MBA qualification grew largely within the framework of their non-vocational universities; the first year was devoted to the core disciplines of the science of management and the second year offered more specialization through a choice of electives. Specialist MBAs were introduced with modular topics such as international business, finance, the public sector and even football. While the US model enrolled students after taking a first degree, business schools in Europe placed much greater emphasis on practical work experience prior to entering the MBA programme. By comparison, the learning curve of entrants with prior business knowledge and work experience played a significant role in re-writing the criteria for universal MBA enrolment.

Over a period of almost 30 years, from the beginning of the 1960’s to the end of the 1980’s, the MBA was transformed from being the Cinderella of professional qualifications to a coveted tool to be utilized in building existing competencies to find plausible solutions to concurrent business issues. By the late 1970’s, the battle for respectability had been won and the number of universities sprouting business school and MBA courses increased dramatically. Today, increased globalization and changing lifestyles has meant that thousands of universities worldwide present the MBA qualification, offering more flexible ways of learning, including: distance learning, modular, in-company and part-time study.
New developments
Driven by competitive factors, new developments over the past 20 years have successfully changed the primary two-year MBA programme to offer entrants shorter programmes (the one-year programmer being the norm in some countries); running different programme structures such as modular, consortium, international and joint, as well as programmes accommodating diverse groups of people from different business sectors or different age groups; and internationalisation of curriculum content.
While most established programmes around the world have adopted the MBA title, there are programmes that are similar to what other schools would call an MBA, which also lead to degrees with other titles. Such titles include MBL (Master of Business Leadership), which is a post-graduate degree in the management sciences, and MBS (Master of Business Studies).
Choose your course carefully
While entrants may benefit from the wide choice of programmes, making the right choice of programme is paramount. In choosing a school and an MBA programme, the entrant should bear two main considerations in mind: what he or she wants to gain from the programme in terms of the skills or competence they wish to develop, and what is appropriate for their personal constraints such as budget, time availability, location, etc. Competition is strong for enrolment at the best business schools and employers also place a high premium on the criterion to attract the best graduates
Value of the MBA to the employer
The MBA - is it worth it? More importantly, is it worth the investment made by companies in sponsoring developing leaders on the programme? It can be argued that underdeveloped managers are a greater cost to a company than the once-off investment of a qualification such as the MBA. However, such a statement needs some substance - therefore one has to look at “What value can an MBA graduate add to your company?”
The fact is, we are operating in an ever-changing, fast-paced, highly competitive and global world of work, but how does one respond to this environment. According to Dr Charlene Lew, the first step would be to gain an understanding of this distraught business world. “It all starts with an understanding of the economy and how businesses can contribute to the invention of products that will increase the country’s resources. With that is an understanding of economic concepts, such as ‘inflation’ and ‘consumer price index’. A simple insight into managerial economics, such as supply and demand and opportunity costs assists MBA graduates understand the role of profit maximization endeavors in the firm and how economics inform organizational decision-making,” says Dr Lew.
“In aligning the company with the government’s economic policies, the manager with an MBA can then oversee the financial management of the firm. And, by understanding the company accounts, the manager can assess the performance of the business. With the well-acclaimed holistic viewpoint of MBA graduates, productivity is seen in terms of the input that all the role-players in the firm must play. Of course the MBA also equips the manager, as a strategist, with analytical tools to assess profitability, through, for example, indicators of return on investment (ROI) or residual income (RI), to mention but two illustrations.”
Is the MBA right for me?
Over the past few years, there have been major changes in many aspects of the world of work, and globalization as well as e-commerce are rewriting the rules of how all of us do business. As organizations move into the 21st century, the challenge of successfully merging physical distribution, information technology and financial services into one streamlined enterprise, is becoming increasingly challenging.
Ten years ago, a person could expect to go through three to five career switches, but today it’s more like four to six, which for most individuals also involves full and part-time stints at diverse entrepreneurial ventures. The traditional belief that building a career in the same field, company or industry - and climbing the corporate ladder from one promotion to the next - no longer applies. While organizations are becoming smaller due to corporate mergers, reorganizations, or downsizing, MBA graduates are instrumental in discovering and inventing the new organisational forms that will inhabit the 21st Century. However, to be responsible inventors and discoverers, we need the courage to let go of the old world, to relinquish most of what we have cherished, to abandon our interpretations about what does and doesn’t work.
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