The Relevance of an MBA

The turbulent economy and hyper competition are making businesses more and more complex. The amazing growth of technology and its utilities have sped up the processes. Change has become a norm and speed is becoming a custom. Managing complexities of the business, adopting changes, maintaining speed with accuracy, environmental concerns, business ethics, corporate governance, team building, mentoring and leadership, visualizing future, etc. are some of the issues which figure prominently in the boardroom meetings. Then there are functional issues like Marketing, Finance & Accounting, Human Resource Management, Information Technology, Operations, etc. These issues can be sorted out by human beings only and companies are constantly in search of competent people who can address these issues effectively.

The MBA programme has an interdisciplinary approach and an enterprise wide outlook. The MBA programme is a fine combination of Theory, Practice and Research dimensions. It not only focuses on delivery of knowledge, but also focuses on skill development and attitudinal issues. MBA aims at widening horizons and broadening visions. It has the capacity to change paradigms and enhance thought processes.

Various industries and corporations acknowledge the importance of MBA. Many of them insist on a formal management qualification in the resume before recruiting candidates, irrespective of the domain area of work.  Many non MBA employees, though at good positions and good performers, have also understood the importance of formal management education and qualification and feel that not having a formal management education can hamper their promotions and future growth prospects. This is the reason why one finds the Executive MBA programmes packed to capacity.

Many candidates relate the programme of MBA to a good first placement, which may not be always possible. The MBA degree can act as a tool to make a good long term sustainable career but not as an instrument of getting a good first job at a fabulous salary package. Though some fresh MBA graduates may receive fabulous offers, some others might be required to struggle for a few years before they can really harvest the benefits of their MBA degree.

The MBA programme, or any formal management education, is best taken up in a campus based programme rather than distance learning mode. Management education is not just about reading books and appearing for exams. It is a comprehensive programme which calls for high degree of Faculty-Student interaction, working on various Projects, Peer Learning and a varied Industry Interface. All this may not be possible in distance learning mode. 

As long as businesses exist on the face of this earth, the need for trained, competent and efficient manpower will remain. This is where a career opportunity lies. Formal management education (say MBA) is the key source of providing such manpower in quality and quantity. So gear up, pull your sleeves, and start preparing to get the best possible management education available. Happy Innings!

About the Author:

Dr Makarand Arun Joshi is an Associate Professor for Marketing and Business Strategy and HOD - School of Management, Ajeenkya DY Patil University, Pune.