It’s not just fluff and gloss

Jasveen Kaur 

Business is both an art and a science, and indeed there is theory, logic and science in the corporate world, too. However, these days, many students are pursuing MBA just because this degree gives an opportunity to boast of having a trendy degree and to wear fashionable formals. It is unfortunate that many MBA aspirants are unable to realise the true worth of the degree that they covet.  

Mechanics of business

The MBA curriculum is so designed that it covers every aspect of the business world, right from the low level management to the decisions taken by the CEO of a company. It’s a myth that MBA is all about developing selling techniques. In fact, much more is covered under the scope of an MBA. This course teaches how to manage teams, how to develop leadership skills, how to design an advertising strategy, how to manage the risky investments, how CEOs make decisions, what characteristics are required in an entrepreneur, how to communicate effectively and so on. It also broadens an individual’s thinking horizons. 

A student gets to know what is happening around the globe, and the opportunities and challenges prevailing around him. 

As part of the curriculum, MBA students participate in various group assignments, presentation tasks, workshops, internship programmes and prepare project reports. Students also go for industrial and corporate office visits. Thus, besides theory, a master’s degree in business administration also polishes practical skills in students. It’s the balance between theory and practical that leads to comprehensive training of MBA students. 

A need or fad?

People often quote that successful businessmen are born and can’t be created. They add to it that there are many successful businessmen who are college dropouts and did not possess any management degree. Bill Gates, Steve Jobs and Michael Dell are the oft quoted examples of business legends who did not have a formal business management degree under their belt. However, there is another side to this argument that highlights the difference in number of self-taught business leaders and those with a professional qualification. 

A logical comparison clarifies that a formal degree almost always results in producing efficient and effective managers who have taken up significant roles in the corporate world. Numerous CEOs completed MBA before stepping in the professional world, and six of the top 10 CEOs of the world have an MBA degree. Further, the successful college drop-outs are also hiring MBAs only for managing their empires.  

Nevertheless, every public opinion has reasons behind it. It is true that once golden MBA is losing luster. These days, people do not consider it as a dependable degree as many MBAs are unable to secure jobs. There are a number of reasons for this. First of all there has been a mushrooming of B Schools everywhere. These quantity-oriented institutes are earning at the cost of quality concerns. They are befooling students by showing off AC classrooms, Wi-Fi campuses and beautiful architecture of the buildings. Although there is no harm in having good facilities and infrastructure, the basic quality of education should not be replaced by these modern facilities. 

Students need to understand that one can excel as a manager only if one is passionate about this field. If you are pursuing a degree just for the sake of doing it, you are just increasing the number of degree holders rather than actually becoming a skilled professional. A student can never learn if he is not confident about the value of what he is doing. 

Thus, to conclude, MBA is one of the most popular degrees and is well worth the effort. It gives a prominent platform to make a successful career with benefits like improved career opportunities, a higher salary, better networking and increased skill and expertise.  If your desire is to become fluent in the language of business, you should head forward to a good business school. 

If you are committed to industry or business world and are passionate to learn what is going on in the real world, MBA is a right choice for you. But if you are joining just because your friends are joining this programme or you are forced by family and friends then it is the most absurd mistake that you will ever make in your life. 

- The writer is Head/ Chairperson, University Business School, Guru Nanak Dev University, Amritsar 

[email protected]

Who’s joining the MBA class

• Three in 4 prospective graduate business school candidates who hold a prior master’s degree consider enrolling in MBA programmes
• MBA remains the predominant programme format considered by candidates with both prior business master’s degrees (61 per cent) and non-business master's degrees (86 per cent).
• Globally, the percentage of candidates considering only business master’s degrees — such as Master of Finance, Master of Accounting, and Master in Management — has increased from 15 per cent in 2009 to 23 per cent in 2016. 
• Compared with MBA candidates, individuals preferring business master’s programmes are more interested in developing their technical skills. MBA candidates are typically older, have more years of work experience, and are more interested in developing their managerial and leadership skills.  
• Globally, among full-time MBA candidates looking to study outside their country of citizenship, 58 per cent prefer to study in the US, down from 61 per cent in 2009. Since 2009, there has been an increase in MBA candidates preferring to study in Canada (4 percent in 2009 vs. 7 percent in 2016).
• Indian candidates are the most negatively influenced by the Brexit vote, with 58 per cent reporting that it has made them less likely to study in the UK. 

-Inputs 2017 mba.com Prospective Students Survey Report