How important is an MBA for future business success?
Future business success relies on a great many factors, one of which could be to secure your professional reputation and skills with a graduate degree. Today, there are few better ways to arm yourself for a career in the corporate throng than with a graduate MBA.
The Master of Business Administration (MBA) qualification originated in the United States in the early 20th century as a response to demand for quantifiable and systematic approaches to management training. Standardising what constituted business administration, both in education and the ‘real world’, meant an MBA was likely the best preparation to tackle the corporate beast at large when you took your first post after completing your studies. But, how true is that today? Is an MBA really important for future business success?
Here is a comparison of qualities you need to excel in business, and how an MBA may nurture those qualities. The rest always has been, and always will be, what you make it.
“You have my word”
More people read and write today than ever before, not to mention write business reports, white papers, proposals, resumes, presentations, letters and email. An online graduate MBA will prepare you to write in a variety of essential business formats, familiarise you with the international language of business, and give you enough assignments to hone your written communication, so you can ultimately streamline your overall effectiveness on the job.
“Talk to me”
Networking, small talk, and working the room at conferences and events doesn’t necessarily come naturally to all with ambitions in business, yet it is an important component of building relationships for success. On your MBA, you will converse with just about everyone involved with your course, giving you ample time and practice to develop your business persona and networking techniques.
“I have a dream"
Speaking in front of many strangers ranks as one the most feared activities, but again, is essential in order to conduct effective business overall. During MBA studies, watching and preparing presentations is par for the course, and you will develop confident presentation skills that can be transferred to the global business environment with ease.
“Show me the money”
Business simply doesn’t happen without transactional sales. InterActive, in conjunction with London School of Business and Finance (LSBF), offer a Global MBA course specialising in sales management. Focussing on sales will provide transferable skills applicable to almost every area of business, from software management to marketing, strategy to global business operations.
“You scratch my back, I scratch yours”
Negotiation skills are of paramount importance in business. An effective negotiator will create favourable conditions with partners and clients, ensuring long-term success for all involved. On every MBA course, you will not escape negotiation training, whether it’s justifying a strategy, or taking part in real-world case studies where your bargaining skills are put to the test.
“The Art of War”
A great idea, a great product, and all the investment in the world won’t make a bit of difference to a successful business if there is no strategy in place to bring it to life. MBA studies familiarise you with numerous strategies in all areas of business, so you can be prepared for any situation when you are faced with the multiplicities of global corporate operations in the real world.
“Kick off with confidence”
Project management is an art, and great project managers frequently accomplish the impossible by pulling incredible results out of their hats, ahead of time and under budget. The Global MBA project management specialisation from London School of Business and Finance, powered by InterActive, equips learners with the practical foundation in order to be able to deal with a variety of real world project scenarios.
“Death and taxes”
A business without adequate financial planning will not survive long, which is why companies always require great accountancy and finance professionals. An MBA qualification specialising in financial management will provide learners with the tools they need for a global view of any company’s financial health, and facilitate decision making based on sound financial data in order to avert the most costly of disasters.
“Risk, triumph and glory”
“The biggest risk is not taking any risks”, says Mark Zuckerberg, and he should know. Skills in identifying and assessing which risks in business to take can be the difference between boom and bust. An MBA specialising in risk management will coach you in how to handle corporate investment as well as market, credit, operational, accounting, legal, and tax risks.
“Ball and chain”
Logistics is not an attractive word, yet it is fundamental to any business to make sure logistic operations are fluid, dynamic, and able to cope with whichever direction the winds of corporate change may blow. Your MBA qualification will stand you in good stead when it comes to understanding the global perspective of how business operations are conducted, and how your company can maximise profit from excellent logistical planning.
“Tick, tock, tick”
Time-management is critical in nearly all aspects of running a solid business. Doing an MBA online implicitly practices important job skills, one of which being disciplined time-management. Completing an online degree while continuing gainful employment, for example, demands excellent time-management and prioritisation skills. Thankfully, your online MBA with LSBF and InterActive will give you unparalleled flexibility to study when and where you need to.
“Are we all on?”
Meetings and conference calls are a fact of life in business, and being adept in effective formats, procedures and differing etiquettes is a worthwhile skill to exceed in. Your online MBA will include access to discussion and network forums where contact with fellow learners from a variety of cultural and business backgrounds will be notably encouraged, with a range of ways to conduct communication.
“To lead is to serve”
When and how to take the lead will be a frequently occurring question in your career, especially in companies with flexible and innovative management structures. Many of the specialisations in your Global MBA programme will include a strategic management and leadership module where you will analyse, evaluate and practice the most current leadership concepts, tools and strategies.
Effective systems, both on- and offline, facilitate consistency, efficiency and reduced costs in business operations. Online study in itself promotes a familiarity with productivity, not to mention the evaluative analysis practical case-studies in your online MBA will afford you. Amalgamating human and automated systems go a long way to making your skills competitive.
“Action is the key”
Your company’s great productivity is all well and good, but if you’re busting your behind and only just getting by, there may be room for a reorganisation of your personal work habits. Simply, an MBA goes a long way to giving you a global view of what can be achieved when all the cogs fit, and the jigsaw pieces fit snugly. At the very least, you’ll have the tools to recognise when your work ethic needs a boost in the right direction.
When given careful consideration, the elements of the MBA qualification still go a long way to ensure your success in future business, and the business of the future. All that remains is to choose a quality programme that will provide you with the running start you need for a bright future in whichever area of business you choose to make a career in. Check out the online Global MBA and our extensive range of specialisations available from London School of Business and Finance, powered by InterActive.