Master of Business Administration (MBA) is a master's degree in business administration that has achieved worldwide recognition. It attracts individuals from a variety of academic fields aspiring for a leap in their careers. This degree in business administration was derived from the idea of applying a scientific approach to management.
MBA is a challenging educational program that gives basic business management principles to students. It won't be wrong to say that an MBA teaches you the science of 'managing'. The pursuit of an MBA degree is beneficial in several ways.
Benefits of an MBA - A Quick Look
Here, we will help you understand why people go for an MBA degree. Remember, do not go for one just because many around you are pursuing it. Think for yourself why you need an MBA and what you are going to acquire from it.
Your basic degree can give you technical expertise. But the vision and understanding needed to put the acquired expertise into practice can be obtained from an MBA. Given here are some of the primary benefits people reap from a Master's in Business Administration.
- Acquiring management skills
- Career advancement
- Acquiring entrepreneurial skills
- Development of decision-making skills
- Gaining a know-how of IT, economics, finance, marketing and business operations
- Enhancement of written and oral communication skills, leadership, teamwork, maturity, analytical skills
- Developing business expertise
- Having clear career goals
Education plays a vital role in your life. Besides providing you with the means to make money and have a standing in society, it also shapes your personality. Your education is not merely a degree appended to your name. It is rather an integral part of your personality.
Your personality is largely influenced by the field of education you come from. That explains why engineers are analytical, those from the management sector are strategic, those from the creative field are innovative and those in the fields of Math, logistics and programming have problem-solving skills.
How an MBA Degree Benefits You
MBA programs expose you to a wide range of subjects like economics, accounting, finance, marketing, operations management, supply chain management, organizational behavior and project management. After covering a breadth of subjects in your first year of study, you are given an opportunity to specialize in the subject of your choice.
As a part of the degree program, you are also exposed to the international business scenario. This helps you acquire business expertise and also enables you to set clear goals for yourself.
One obvious answer to 'why pursue an MBA' is 'to make more money'. Yes, this is an advantage of an MBA. Rather it comes as a side effect of what this degree primarily gives - advancement in career.
An MBA degree helps you in advancing your career and can lead you to a good career change. It is one of those degrees which can have a positive impact on your salary. Earning an MBA degree prepares you for management-level positions in the industry and gives you greater marketability. It amplifies your resume and paves a path for professional growth.
The training programs that are a part of the MBA degree course help in enhancing leadership skills. The projects, group assignments and presentations help you in acquiring the skills of handling business situations. MBA programs offer you an opportunity to lead teams, gain knowledge of business leadership and be an influential leader and effective manager.
The group assignments and projects in an MBA program help you in acquiring the principles of teamwork and collaborative effort. You learn to work together and share both successes and failures with your team. An MBA provides you with a strong network of business professionals and helps you build long-term professional relations.
An MBA degree goes a long way in helping you develop business expertise and start your own business. A large number of students who pursue an MBA, eventually start a business of their own.
Although, an MBA is not a prerequisite in being a business entrepreneur, it definitely provides an added advantage. It equips you with entrepreneurial skills and gives you an in-depth knowledge of business operations in the corporate world.
MBA is widely recognized as your passport to a successful career. Do you plan to acquire it?