Why you should go for an MBA?
Masters of Business Administration (MBA) is a coveted post-graduation course that helps you build a holistic perspective of the business world. To run a company, with crores of turnover and thousands of employees, you should be aware of the ins and outs of a businesses including major aspects of finance, marketing, operations, human resources or IT.
Not all, but here are a few formidable characteristics of a person with an MBA degree:
Knowledge - An MBA course uses effective pedagogical methods like case studies, projects, research papers, white papers, role plays and presentations to equip you with different processes of business domain. You meet fellow graduates from engineering, commerce, medical, aeronautical, law and from all the fields offered by this world. You learn both from books and interaction with fellow students.
Networking - Networking starts from your business school itself. You are part of group that would be future CXOs. You could be member of cultural clubs and committees like B-school alumni group, sports team, marketing team, public relations team to name a few. You have the opportunity to interact with industry experts through events organized by the B-schools.
Career Jump - Your in-depth understanding of businesses makes you more employable. An MBA degree from a reputed B-school shall help you to leap forward in your career. It distinguishes your personality from others and marks a benchmark for others. You are expected to make on-the-feet decisions that are strategic and inclined to goals of the company. One can leverage the opportunities offered by various alumni of B-schools, now at top positions in big companies.
Team Player - With an MBA, you become a team player. You have to work in groups for numerous projects and most often, your groups are rotated as well. You get a plethora of experience in terms of negotiations with fellow members. You do not work in silos for more than 80% of your time. Out there, there are people and you must acquire skills to be deal with the world.
Aware Consumer - Apart from building relationships, an MBA provides you with enough information for you to become an aware consumer. MBAs often say they found a change in their shopping habits after the degree. It is not because of the hefty packages that they get but it is for the fact they know much deeper about the products and services now. They could identify companies to buy from and make every penny count.
Brand Equity - In India, the tag really matters. If you are an MBA from IIMs, ISB, SP Jain, Symbiosis, IMT or likes, chances are you would be known by the name of college more than your own name. It is a matter of pride and adds to your brand value in market.
Communication Skills - Business involves interaction between two parties and communication arises out of this interaction. In business school, you develop proficiency in terms of communication. In role plays, discussions and presentations, you are required to take position of a CXO and communicate your thoughts well in structured and crisp format. This is what being demanded by the multinationals across the globe. They look out for candidates who can stand apart from the crowd in terms of communications and thought process.
Entrepreneurial Skills - Getting an MBA before starting your own venture can help in building a stronger foundation. You can meet your future co-founders, your mentors from college faculty and networking sessions, the domain knowledge you need and even funding & incubation through various b-school competitions. Many of the known startup leaders are from big B-schools in India. Entrepreneurship starts from business schools. It is better to learn about the success and failure of various businesses through case studies before going into the field directly.
They say that one must learn from others' mistakes and in this kind of competitive world, one cannot lose time in learning from the mistakes already committed in the past by others. An MBA degree helps you in overall development of personality including your knowledge, skills, networks, etiquette and behavior. It makes you more responsible as a consumer and provides you with better opportunities in your career.
So, if you want to start your own business; work at a top level in a big company like Unilever or Tata; wish to jump forward your career or just have the love and curiosity of businesses, you are made for an MBA degree.