Earning An MBA Is Not Enough, You Must Learn To Apply Your Skills

Are you planning to pursue an MBA for a better career? But can an MBA degree guarantee success? Let’s have a look....

Nowadays most B-schools and colleges are providing an array of options to students for pursuing business degrees. With growing challenges in the corporate world, earning an MBA has become more important now than ever before. But simply becoming an MBA graduate does not mean that you will climb the success ladder. No matter how much business schools say that an MBA is a guarantee towards a better career, I believe that you will achieve success when you utilise your business knowledge effectively to develop innovative ideas and solutions for your company.

Is An MBA Enough?

In today’s corporate world you will find more individuals who are either pursuing or have already earned an MBA degree. I agree that nowadays being an MBA graduate opens up various new career opportunities which can enable you to achieve your professional goals. Moreover with intense competition in the global job market, having an MBA degree can give you an edge over others and add value to your resume. But I can tell you right now that it is not enough.

Joanna Smith Bers, Managing Director and Talent Officer for DB Marketing Technologies in New York, said “Colleges seem to churn out MBAs like tissue paper. There may have been a time when those three letters actually distinguished job candidates from the pack, but no more. As a senior manager at a business insights management consulting firm, I have found that the MBA is more embellishment than substantive.”

Earn The Skills, Not Just A Degree

Hence you must take the effort to set yourself apart in different ways by not only acquiring business skills and knowledge, but also effectively applying those skills in a business setting. Ahmed Sharawy, an MBA graduate and an aspiring entrepreneur, believes that being able to use your knowledge to develop business plans and strategies is as important as, if not more, than earning an MBA degree. He said “The way schools and people talk about MBA, makes students and candidates believe that graduation is an achievement that entitles degree holders for a better life. But the real achievement is using what we learn to come up with innovative ideas and incubate them long enough to be successful and useful.”

This means that you will need to gain significant work experience in a relevant field either before or while you pursue your MBA degree. Your experience will demonstrate that not only you have the critical skills, but you also know how to use them at the work place to improve your productivity and add value to business.

Going The Smarter Way

But the fact remains that pursuing a full time MBA programme does not leave any space for you to gain work experience by doing even a part-time job. This is perhaps one the biggest challenges of traditional full time business programmes. I guess this is why numerous students from around the globe are now going for online MBA pathway programmes for the excellent flexibility and convenience it offers. As there are no fixed or scheduled classes, you can easily choose to work a full time or part time job and also pursue your online MBA simultaneously. Moreover, you will be able to apply what you learn at the workplace and hone your skills further. This will allow you to develop efficient business plans and strategies for your company by using your MBA knowledge.

Once you have completed your top up MBA programme and acquired adequate work experience, you will have a shot at boosting your employability to a great extent and make you a desirable candidate to prospective employers.

The Bottom Line

So if you think that simply by earning an MBA you can become a hot-shot manager at a Fortune 500 company, then you couldn’t be more wrong. Getting an MBA is certainly not a bad idea, but you need to keep working on yourself to build your career.

Manpower’s Holmes says she doesn’t want to discourage anyone from getting an MBA, but that students should understand there are limits to how much it can help. Dora Vell, an executive recruiter from Waltham, Massachusetts, said “It’s not the degree. It’s what you do with it. An MBA is just noise.” She adds “It doesn’t help me every day, but it made me feel smarter and gave me more confidence.”

What do you think? Feel free to share your views and opinions on MBA and how it can help your career. We would love to hear from you.

Is Online MBA As Good As Traditional MBA?

Do you think online MBA programmes are second-rate? Well, you couldn't be more wrong. As more and more established business schools have started to offer online MBA programmes, the quality of online learning has enormously improved.

Growing Demand for MBA

MBA has become a very valuable qualification these days as it is in high demand from both students and employers. Even in this intense job market, MBA graduates are successfully landing great jobs in big corporations. According to recent data from GMAC (Graduate Management Admission Council) released in January 2013, around 92 per cent of 2012 MBA graduates across the globe were employed within 3 months after their graduation. Moreover another GMAC revealed that 76 per cent of employers worldwide planned to recruit fresh MBA graduates in the year 2013; and the number is expected to go up even more this year.

So in this scenario, having a business degree can certainly be beneficial for you. But should you go for a traditional MBA programme and empty your saving account or go for an online programme? But can an online programme offer you quality education and excellent opportunities? Let’s find out.....

Is Online MBA Inferior?

It is true that earlier many students, education experts and even employers used to consider online management diploma and degree courses to be second rate as most top ranking B-schools remained detached from the market. However all that has changed now with the recent boom of online MBA. With rapid technological developments student experience has enhanced to a great extent.

In a recent post in The Telegraph, Professor G. Anandalingam, Dean of Imperial College Business School, writes “As with almost anything based around technology, it’s a process of continuous improvement: the way universities and students use technology is always evolving, making now a very exciting time to be working and studying in this area.”

A Raging Debate

But there seems to be a debate regarding the usage of technology in higher education. Clayton Christensen, Professor of Business Administration at Harvard Business School, argues that eventually technology will revolutionise the entire education system and in future all learning will happen online. However, Professor Michael Porter of Harvard Business School believes that online learning will not be able to replace classroom learning, but it will enhance it.

No matter which side of the debate you are on, you simply cannot deny that technology is significantly influencing online business diploma courses in a positive way as numerous students worldwide are now opting for online business education. Technology has effectively closed the gap regarding quality of the course and student experience between on-campus and online MBA.

However you need to ask a few questions before pursuing an online MBA programme. Professor Anandalingam writes “Students considering the merits of an online MBA vis-à-vis an in-class course should bear a few things in mind. Is there a good career service for online students? What opportunities are there to meet each other and network throughout the programme? Is there similar support for networking after the course and, crucially, is the syllabus delivered through rich, multimedia content?”

Is Online MBA a Good Option?

Although online courses initially offered only boring video lectures recordings, but now courses from leading institutions like Harvard and MIT’s EdX and Stanford’s Coursera are offering engaging lessons through interactive audios and videos as well as group assignments.

But after all that has been said, can technology and Online Management diploma programmes help you? Of course it can. If you want a recognised business qualification without being burdened with student debts, then online courses are your best option. Moreover, online MBA courses offers you the opportunity to pursue a degree and without giving up your full time job.

“For a significant and growing segment of the student population – working professionals that can’t afford to quit their jobs and come into campus for a long period – online learning has been a revelation. This is also true for students who are located in different countries but who want to receive a UK education due it its world-class reputation,” writes Prof. Anandalingam.

But will you have adequate networking opportunities in online business diploma courses? Its true networking is an important part of business education. As there is a lack of classroom interaction, you will need to take an innovative approach by using social media like LinkedIn and Facebook to expand your network and connect with other students. This helps to promote lifelong education by enabling b-schools to become a dynamic part of these online communities.

Prof. Anandalingam further adds “We, and others, work hard to ensure that online alumni are added to the career service office and we even arrange networking events throughout the world.”

Do you think online business education has improved significantly in the recent years or is it still second-rate? Would you like to go for an online MBA? Share your views, opinions and concerns and freely add to the discussion.

How is an Online Business Diploma a better and cheaper option?

Are you set to study MBA from a reputed business school? Pursuing an MBA can be an excellent career choice, but you just might have to empty your bank account as tuition fees in recognised B-schools worldwide are increasing constantly. So what should you do? Let’s find out....

MBA is certainly among the most pursued education programmes across the globe. I believe that a degree in business can undoubtedly help you to gain leadership and managerial skills and broaden your networking. But as most brick and mortar B-schools and universities are charging excessively high tuitions, does it really make sense to pursue an on-campus MBA programme? I don’t think so. But don’t take my advice.

Why Go Online?

A new study conducted by Wharton School, one of the foremost US business schools, shows that online programmes, including diplomas and MOOCs, are more cost-effective and resourceful than traditional programmes. Karl Ulrich and Christian Terwiesch, the authors of the new report, believe that online courses like MOOCs are more productive when compared to the cost of tuition in on-campus MBA courses. The study goes on to say that online business diplomas offer you greater flexibility so that you can study at any time you want, which is a boon for most learners.

Moreover as these programmes divide study materials into different segments and deliver them through short videos/audio presentations, a process identified as “SuperText” in the study, it offers you a better learning experience.

The researchers said, “It is SuperText that poses the threat and the opportunity. The MOOC . . . is a Trojan horse: while public attention was focused on the massive and open characteristics of the courses, the SuperText technology quietly proved highly effective as a learning technology.”

Online Education...The Current Rage

Whether you admit it or not, online learning programmes have presently become a rage among learners and professionals alike. As online diplomas are affordable, you will be able to learn the core and advanced elements of business management without emptying your pockets. Perhaps the greatest advantage of pursuing an online diploma in business is that it gives you the opportunity to learn while you earn. You can easily work a full-time job and also pursue your online business programme at the same time. It gives you the scope to balance your personal, academic and professional life effectively.

Fast Track to a Better Future

What’s more, you will also have the option to top up your online postgraduate diploma in business management and fast track to the final year of an accredited MBA programme from a recognised business school or university. Thus online business diplomas are definitely a cheaper and better alternative to traditional MBA. Not only will you learn essential knowledge, abilities and skills, but you will also be able to earn a recognised qualification at minimal cost. Moreover, as online diplomas are now accepted by employers all across the world, you can easily get employed in a managerial role at a multinational organisation.

Online programmes like business diplomas and MOOCs teach you to apply business management knowledge to solve business-related problems at your workplace. With a recognised business diploma, you can increase your income, transform your career and accomplish your targets successfully.

Business Education- 3 Simple Steps For Reinventing B-Schools

Business schools have effectively created generations of business leaders through their MBA programmes for years. These MBAs eventually became successful managers, executives, management partners and managing directors. However this does not hold true anymore. What proved to be effective in the past is becoming redundant now. As the business world is continuously changing, there is an urgent need for constant restructuring and reinventing business schools, careers and organisations.

In this intensely competitive and complex corporate world, educational models should be developed in way that it becomes relevant for the current scenario. Here are 3 basic and yet effective suggestions for business schools around the world to revamp and rebuild an obsolete educational system-

Hard Skills Are Not Enough, Teach Creative Problem-Solving Skills

The old operating manuals for achieving success have become useless now. Our future business leaders need to develop the abilities to improvise and find innovative solutions in real time to face unique challenges present in the global market place. Hence B-schools need to prepare their students to counter future challenges by enabling them to think productively instead of simply going through the motions.

Business schools must design projects, coursework and assignments that would help the students to develop creative as well as analytical thinking. It is only by providing the students the opportunity to gain experience in effective decision making in the face of uncertainty, B-schools can offer more valuable training than simply teaching them to calculate discounted cash flows. They should be encouraged to take calculated and responsible risks and provide solutions to creative challenges.

Create Modern Business Leaders Instead of ‘Old School’ Leaders

Conventional business schools create business leaders in the old-school “boss” model where a single leader instructs and leads the team. MBAs who become business leaders usually act like Orchestra Conductors. Although they do not play any musical instruments, they guide their teams to stick to the notes, written on a page, with accuracy and precision. Even though this model might have proved fruitful earlier, today business leaders need to act Jazz Musicians, instead of Orchestra Conductors. They need to form small groups of skilled employees involved in an ongoing and open-ended process of exploration, innovation and creativity. Innovation will flourish when calculated risk-taking will precede compliance.

Create Leaders Who Focus Talent Development Rather Than Management Systems

Earlier, the focus of business models was on developing repeatable and tightly functioning management systems. However, at present, markets around the world are changing continuously and have become more fluid as well. Thus, now leadership needs to focus more on developing talent instead of strengthening fault-tolerant processes.

Today ongoing creative disruption has gained prominence over rigid management procedures as the way towards success. Successful business leaders are now augmenting their impact through the employees they have trained and developed, instead of concentrating on enforcing the rules they have formed. Currently, businesses require leaders who will be able to increase their leadership capabilities, rather than just complying with directives.

Modifying Approach to Create Future Leaders

In order to remain relevant and sustain in the rapidly transforming corporate world, business schools must modify and alter their approach. Today’s business leaders need to be creative and should be able to transform, disrupt and reinvent on an ongoing basis in order to achieve their business goals. Faculty and administrators of B-schools should also follow the same approach if they wish to create excellent business leaders for the future.

Study: M.B.A. Now Most Popular Master’s Degree

The MBA has now surpassed Education as the most popular postgraduate degree in the U.S. for the first time in its long and cherished history as statistics from the U.S. Department of Education testify.

In the last year of available data 191,571 people graduated from business schools in the U.S. which amounts to about 25.4% of all the master’s degrees conferred compared with 178,062 students who successfully completed their master’s in education, or 23.6% of all the advanced degrees. Education has long been the dominant field as far as master degrees are concerned partly due to the fact that in some states like Massachusetts it is required to teach. In the 70’s education accounted for a towering 37.2% of all master’s conferred.

What is The growth story of the MBA? Ever wondered?

The growth story of the MBA is largely due to the fact that it has widespread acceptance by employers and the assurance of return on the investment, with a certainty to a considerable extent. Srilata Zaheer, dean of the Carlson School of Management at the University of Minnesota, has seen the transformative power of the degree with her own eyes. “A business degree remains one of the most predictable paths to success and financial stability and can provide the proverbial leg up from relative poverty to great accomplishment and wealth,” she maintains. “In uncertain times, such as we have had since 2008, it tends to draw more students who make this connection.  

We have any number of alumni from our MBA programs who have come from small towns, modest backgrounds, often the first generation in college, going on to become immensely successful entrepreneurs and leaders of global firms.” She gives the example of John Stumpf, chairman and CEO of Wells Fargo. “He grew up in a farm family of 11 children in Pierz, MN, sharing a bedroom with his brothers, and being the first in his family to go to college,” she remembers. Paul Danos, dean of Dartmouth College’s Tuck School of Business and the longest serving leader of a major B-school, is of the opinion that the growth has been driven by schools that have adapted to the changing needs of the companies and organizations that hire MBAs.

It's Time - Change the MBA

The MBA has in the recent past has experienced something of a overhaul with many prospective MBA candidates  voicing their requirement for more focus on entrepreneurship in the course over a curriculum that pays more attention towards finance and consulting. Growth has also been observed in programs that focus on the not for profit sector and social entrepreneurship.

According to Danos “Businesses have grown enormously in complexity and scope, and more than ever, they need ethical, skilled, well-educated, creative leaders who are global in outlook,” “Business education in general and the great MBA programs in particular have adapted as these demands have grown, perhaps better than any other form of advanced education.” As he continues “Top business schools have continuously changed in response to the ever-changing demands of business; and this can be seen in how crucial issues such as: ethics, sustainability, leadership, technology, globalization and much more have been mainstreamed into MBA programs along with the classic core topics of business management.”