Is the MBA Still Worth Studying?
The Masters in Business Administration has long been cited as one of the best degree choices out there in terms of what it can do for a graduate’s career, but does this still hold true? Is the MBA still the best degree out there for entrepreneurs, or are their better choices for the modern student?
Increase Your Value
One of the main reasons that entrepreneurs choose to study for an MBA is that it will instantly increase their value. Having an MBA on its own won’t get you many jobs – you also need to demonstrate that you have some experience and aptitude. However, if you are comparing the resumes of two otherwise similar applicants, the person with the MBA will have an advantage.
Even if the job in question is not a management role per se, the applicant with an MBA will have to be proficient in the skills that are demanded of a manger in order to have attained the degree. Employers know this, and if they see that an applicant has earned an MBA, this will always be seen as another mark in your favor.
Learn Transferrable Skills
Naturally, MBA students will learn a lot about the world of business, the techniques that business managers and administrators rely on, and how to stay on top of the many demands that are made of a university graduate. Many of the skills that MBA graduates learn over the course of earning their degrees are broadly applicable to everyday life and aren’t limited to the world of business.
Students will have to become proficient at organizing their time, setting their own priorities, and motivating themselves to complete tasks that they know need to be done. Business managers who aren’t able to lead by example will rarely be effective at encouraging the very best from their workers.
Take Control of Your Career Trajectory
By studying for an MBA degree, you will not only increase your value to future employers, but you will also be opening up numerous doors that would otherwise remain firmly shut to you. If you feel as if your career progress has come crashing to a halt and you aren’t entirely sure how to get it started again, studying for an MBA could give you the shot in the arm you need to push your career to the next level.
Many people spend their professional lives waiting for promotions and opportunities to come to them. In some industries, workers have little say in when or how they progress and are dependent upon the training associated with a promotion to learn what they need to take their career forward. However, those with an MBA are in the position to take control and direct the pace and direction of their progress as they see fit.
Accomplish Personal and Professional Goals
It is always good to have goals to aim for both in your personal and your professional lives. Goals give you something to aim for and enable you to focus your efforts on accomplishing your most important objectives. Vague and ill-defined goals are harder to achieve and can lead to a long-term sense of frustration if you feel as if your business isn’t going anywhere.
Having more specific goals and defining them clearly makes it much easier to break them down into smaller steps. Taken together, these smaller steps will lay out the roadmap that you will follow to get from where you are now to where you hope to be in the future. There is nothing wrong with having big, grand goals that will take time to achieve. However, it is vital that you are able to set yourself a plan for achieving them. If you don’t know how to achieve your goals, it’s going to be hard to build a strategy around them.
Flesh Out Your Business Network
For any entrepreneur, their professional network is one of the most important resources they have explains Shravan Gupta. A businessperson’s network consists of all the people and businesses that they have encountered along their way and whom they can now turn to for help, advice, and guidance if they so need.
You never know when the other businesses and people that you encounter in the course of your professional work are going to be useful to you, so it is always a good idea to keep their contact information just in case. Digital address books make it trivially easy to store a large number of names and information, so don’t be shy about keeping contacts.
Take Your Degree on Tour
One of the best things about the MBA when compared to other degrees is that it is one of the few degrees that is easily transferrable, with nursing being one of the few others. The particulars of an MBA course might change from region to region, but the core tenets and overall lessons will remain more or less the same. An employer in the UK who sees you have earned an MBA in the US will treat this the same as they would one earned domestically.
If you are someone with international ambitions who wants to be able to travel the world and explore new lands with their degree, the MBA is an excellent option to go for. Wherever you go in the world, the fundamental truths of business remain more or less the same. If you are able to run a successful business in one country, investors in another may well be willing to invest in you and give you a chance to repeat the feat.
Study While You Work
One of the most common reasons people give for not pursuing an MBA even though they think it would benefit them is that they can’t afford to take any time out from their regular job. However, the MBA is a degree that is largely earned outside of the classroom. In order to earn an MBA, students need to prove that they are competent business managers, and the majority of students will continue to work while they study. If you study an MBA program online, it needn’t affect your job at all.
The MBA remains a valuable degree that every entrepreneur should consider. Not only will it help you improve your value to other prospective employers, but you will also learn everything you need to make a success of your own business ventures.