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Importance of MBA degrees
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Introduction The importance of having an MBA for a successful career has been greatly debated since the first time it was introduced in 1900. The aim of this essay is to determine whether an MBA degree is essential to a successful career in business or perhaps there are other factors such as experience that is more important than mastering the business degree. The price of getting an MBA is increasing every year while the return of investment (roi) is dropping significantly at the same time. (Byrne, 2012) Although obtaining an MBA is becoming more expensive, MBA degree is still vital in today’s competitive world because not only it can potentially improve one’s management skills it can also boost confidence which cannot be expressed in the form of currency. MBA serves as a stepping stone to a successful career. Experience Versus MBA Degree Some people believe that having a good job experience is better than having an MBA degree certificate. According to a Qantas spokeswoman, “We think of executive development on the basis of 70 per cent coming from on the job experiences… and only 10 percent from formal type development” (Financial Review, 2013). Job experience is important but mastery is also as important. Without the theories and knowledge the experience is limited. Experience cannot be expanded when theories are not applied. But theories without experience are also futile because one can know about all the theories about management but might not be able to apply it in real world. Both experience and theories are equally important. (Gosling and Mintzberg, 2004) Experience cannot be measured hence it is hard for employers to judge the qualification solely based on the experience. It is possible to record experiences but it can... ... middle of paper ... ...ew, 2013) Alumni network can open up to new opportunities such as starting up business venture. If MBA is measured in monetary term, people argue that getting MBA is not worth it anymore because the return of investment for getting an MBA is very low. But factors such as confidence and networks cannot be monetized. To some people the benefit they get from confidence and networks outweigh the cost of getting MBA Conclusion In conclusion, to some extent mastering the business degree is essential to a successful career in business. MBA might not significantly improve one’s chance of getting hired or job performance but it can significantly improve confidence which to some people is invaluable. Working experience is important for a successful business but it is not more important than having an MBA degree. Both working experience and having an MBA degree is essential.
With an unstable business environment and competitive job market individuals are finding it more difficult to acquire or maintain a way of life they have been accustomed to. Unfortunately this change is occurring faster than society would like to believe or can keep up with. The days of working for one company until retirement is one of rarity. Technological advancements, global competition, lack of leadership and foresight all play a part in the instability of the job market. Company mergers, acquisitions, reorganization, hostile takeovers, and just going out of business can happen regardless of tenure, or years of service. Individuals who lack a degree will find themselves at a disadvantage if ever unemployed or looking for a promotion. With a growing rate of unemployment, and need for skilled labor, employers are more selective in their choice of potential candidates and may overlook a qualified individual for one that possesses a degree. Although this practice may seem unjust or short sighted, it happens everyday. How an individual accepts this reality and positions themselves for future marketability is the focus of this argument.
Whereas having the degree and experience would show the employers that I have the skills and knowledge of doing the job up to the standard. This would also this an advantage as it would allow me to earn higher wages compared to people that don’t have degrees. Having done an undergraduate degree, it would also give me the experience of university itself.
Msc Finance of the Imperial College Business School is a good course to skyrocket my career in the finance industry. It would provide me the best path in achieving my career goal. Unlike any other Msc Fi...
And I have the master degree which is better than bachelor degree students to find a job. The MBA program offers me management techniques and more viable. However the weakness is I am the international students, that means I have to find a company can sponsor H1B. And my oral English is not that good. But this can be practiced.
Over the past hundred years management has continuously been evolving. There have been a wide range of approaches in how to deal with management or better yet how to improve management functions in our ever changing environment. From as early as 1100 B.C managers have been struggling with the same issues and problems that manager’s face today. Modern managers use many of the practices, principles, and techniques developed from earlier concepts and experiences.
I develop and deliver technical solutions to collection of applications used by retail giants across the globe. My responsibilities have given me scenarios to put on my problem solving and interpersonal skills in real life situations. Frequent interactions with client aroused in me, an urge to get into a management consultant role. But, with time I realized that I have to upgrade my skill-sets and make myself more relevant and attractive to the job market. I also realized that I have to diversify my aspects of management such as leadership, entrepreneurship and finance etc. and Broad MBA will equip me with these skills and will increase chances of succeeding in my goals, manifold. After accomplishing virtuous knowledge of IT industry, I believe that Broad MBA program will help me learn more about business problems drawn from real-life scenarios and prepares me to take the next step toward career success. I believe Broad is more than just a place to learn. Through Broad MBA, I will not only shorten my learning cycle but also get a chance to learn from world class faculty, established curriculum and diverse peer groups. This innovative pedagogy will help me put the big foot forward towards my goals, build a professional and personal network and edify me as where to look for information and how to interpret it, when required. The Broad is well respected for the quality of its program, which has been recognized for its cutting edge design and delivery, with rankings that indicate its place among the top tier programs around the world. It will help me create a unique learning experience and it will be my passport to new world of opportunities. While global economic vagueness make me, insecure but I believe that now these challenges wil...
There is an endless list of skills that the managers should have in order to be effective, but the 4 basic skills that discussed by Robbins and Decenzo in their book are conceptual skills, interpersonal skills, technical skills (Katz 1974), and political skills (Pavett, Lau 1983). These skills will be discussed later in this essay together with their importance. Based on the above researches, a conclusion will be remarked in the end of the essay.
Being a business administrative doesn’t require much additional training, but it requires plenty of additional duties. The additional duties actually come in very handy when a person gets promoted to a higher position. In the business world, it is optional if you want to continue your education to hold a certain position. Nobody is forcing you to go out there and further more your education, but in my opinion I would make the best choice in going much further with my education. There’s no problem in going further with your education, but if you do then you’re making a great choice to learn more in the business
A degree in management will help me grow professionally and render me managerial skills to handle business related conflicts in the world of business. This is only possible through university knowledge...
Management is not just about making decisions, watching over employees, and bossing others around. Good management result is satisfied customers, who provide better customer service. In order for new managers to be successful they need to be about to have good communication, human skills, and ability to motivate others. The ability to do these skills effectively makes a big difference in a manager and the company’s overall success. Companies depend on managers to fulfill skills and knowledge to help their company excel. The knowledge managers need to possess is technological inclined and globalization. Effective management can enhance a company’s performance by contributing to employees and customer satisfaction, productivity, development (Noe, Hollenbeck, Gerhart, & Wright, 2010).
This essay has shown that some of the most important elements for business students to be successful in their career are time management practices, greater knowledge and skills related to time management and how business studies can help lead to successful business career by linking theories studied with real experiences in the workplace.
The path to achieving great success is not easy. Whereas there are many shortcuts, the long and patient walk is what takes a person many miles ahead. This concept applies to any individual who aims at becoming a successful businessman. The process of becoming a successful businessman requires a person to attain several accomplishment levels. Each of the level takes energy and time, as well as the ability to recognize the things that make a person truly successful in the business world and life. Becoming a successful businessman requires measurements that take into account not only the monetary and material gains but also the greater scheme of things. Therefore, true success measure achieves in light of creating wealth and value. These factors are vital in the lifetime of success as they present an intangible worth and measurable profit. This essay discusses the way a person can become successful as a businessman.
A university degree does not guarantee professional success. " Successful and unsuccessful people do not vary greatly in their abilities. They vary in their desires to reach their potential." John Maxwell.
Thus the reasons why I want to go back to university and do a MBA to get myself a thorough business background to understand not only my career experiences but other students as well and put them in to business context and have a holistic view of the organization. The knowledge I will gain should help facilitate a career change. After extensive work in high tech LNG shipping industry, I want to transfer to shore based industry.
Why do we study Business? Many people study business because it offers so many career opportunities in general and plus everything that we deal in today society has to do with business. Think about the clothes, shoes, etc. you wearing today and then think of what business made it very possible for us to be wearing those merchandise and top of that it satisfied the sellers that’s buying the product this is called tangible and intangible good that provide satisfaction and benefits of its product. The of field business itself offer us a variety interest and challenges career opportunity throughout the world, such as marketing, managements, finance production and many more that you could think of, thinking about all those processes and people begin to understand about what business studies is all about. Business is a big major part of everyone life and anybody who has good idea how businesses work are at an immediate advantaged in the future. If you have some knowledge in business, it will help you to become a more conversant consumer and to market yourself well while looking for a job and also help generate profits that essential.