MBA is a natural choice for many people who have spent significant years working in the industry. While some make the choice to pursue MBA right after their under graduation, others decide after they have worked and specialized in certain areas with the aim to deliver greater value to their organization, grow, or find better earning opportunities.
Years of experience can make you adept in your work, but managing a business successfully requires a completely new set of skills. While working at a company may equip you with a range of skills, it may keep you bereft from business skills. An MBA course plays right there. Business strategy leaders, senior managers, vice president are often MBA graduates.
How does an MBA help?
An MBA invariably equips you with analytical, qualitative, quantitative, and strategic skills. Besides this, an MBA imparts skills that are valuable and indispensable to run a successful business. Let’s look at some of them below
1. Leadership – Leadership is an important skill to manage a business. As part of the MBA curriculum, schools conduct various team activities, which allow students to demonstrate their leadership skills and learn.
2. Communication and interpersonal skills – MBA graduates are trained to speak effectively. Classrooms often conduct case studies where studies are expected to deliver their insights and technical-know of the subject clearly. This instills good communication and interpersonal skills.
3. Problem-solving – Without this skill, a professional is nothing. Compared to all other skills, this one is the most sought after in MBA graduates among employers. Classroom programs train graduates to critically analyze a situation and come up with a good solution to the problem.
4. Risk Management – Businesses are prone to risks and failures, but it doesn’t mean you have to be afraid of them and avoid risks. Progressive leaders are good at taking educated risks. MBA schools prepare students to think analytically of cost-effective solutions and minimize the fallout.
5. Business and technical acumen – MBA graduates are a jack of all trades – finance, marketing, human resources, product development, and even smaller aspects like business soft wares and applications. All in all, they are the reason to keep business away from falling apart. Equipped with these skills, MBA graduates make excellent business strategy leaders.
Career opportunities for MBA Graduates
Banking and finance
Most roles in investment banking and private equity are reserved for people who have banking experience prior to MBA. Further, an MBA concentrated in finance helps to further boost your chances to secure a role in these areas.
In this role, MBA graduates provide insight as to which start-ups to invest in. Prior knowledge of the industry comes handy, thus capitalizing on their experience.
Data-driven culture is burgeoning and MBA grads are the first ones to capitalize on this trend. By the end of MBA, graduates are equipped with business analytics skills. Using their analytics skillset, they help businesses make favorable business decisions.
During the MBA program, graduates are equipped with consumer psychology and market research. Using this knowledge, graduates can help with product development and management. Even though this applies to all industries, this role is prominent in the tech industry where prior techies after getting managerial skills get into product management.
As MBA grads, you are equipped with all the necessary skills to build your own start-up. In fact, many B-schools provide start-ups and further aid with investment opportunities and resources available by the college alumni network.
This is probably the most coveted role among MBA grads. In this role, you will help large corporates solve business problems and try to transform their operations for better efficiency.
Throughout the MBA course, grads are exposed to business training and problem solving skills.
Human capital is one of the most integral aspects of managing a business. Workforce welfare is part of an extensive coursework which MBA grads are exposed to during their learning. A business can’t function well without a well-managed workforce. MBA grads utilize their communication and interpersonal skills to manage workforce.
In addition to MBA, many working professionals choose to go for professional business certifications which further paves way for growth. As a general rule, it is imperative for business leaders in the industry to keep learning and growing.
Hands down, MBA is a good option for career growth but by no means, it is the only option to grow as a business. In addition to regular on-campus MBA programs, business executives take executive MBA courses which allows them to learn while they are employed full-time in their role. MBA course for all areas mentioned above is beneficial.
Where do you think you will go after your B-school?