When people think of mba, they may envision the smiling CEOs on Forbes magazine covers, or images of world financial centres with skyscrapers and bustling white-collar workers speaking on their iPhones. But what is an mba really all about?
An mba is an important qualification for students and professionals seeking to move into management or leadership positions. Those who already have work experience, however, can sometimes achieve their desired career outcomes without an MBA, or through alternative routes and professional experiences.
Despite this, an MBA can still be worth the time and money for those looking to change their industry or advance within it, as it will help them understand the nuances of the business world. This will help them create and execute plans for growth, which will ultimately increase their salary potential.
An MBA also gives students the opportunity to hone their interpersonal skills through scenario-based learning. During class projects and case studies, students often collaborate with peers from a wide range of industries, who can offer fresh perspectives on complex issues. Spann says this kind of collaboration is critical in today’s globalized economy, and can provide a long-term return on investment for MBA graduates.
Moreover, an MBA can help students develop and hone their analytical thinking abilities by challenging them to break down problems into components and find solutions. These are considered soft skills, but can make a huge difference when it comes to business success, particularly in the highly competitive landscape of startups and growing companies.