There was a time when one didn’t have to be educated with a degree in commerce to start a business or work in roles now suited for commerce graduates only. Jamsetji Tata and Dhirubhai Ambani, two guiding lights of the Indian industry and enterprise, did not have an MBA degree but they more than made up with their talent, business acumen and hard work. In today’s times, however, the demands of the business world have evolved, thereby necessitating a professional degree like MBA to gain an advantage.
Today’s world is ruthlessly competitive. The number of jobs is not proportional to the number of people looking for them. The number of people opting for an MBA has recorded an increase year after year, revealing how important it has become, as a medium to acquire higher skill sets and ultimately get good jobs. With so many people wanting to join the industry and apply for the limited jobs on offer, companies seem to have set an MBA degree as the minimum benchmark to consider applicants.
One of the reasons why industry prefers people with MBA degrees is because the demands of the modern world has changed completely. The world today is much more professional and global in nature. There is a growing inter-dependence between various countries and people. Also, companies today have footprints in multiple countries and employ a multi-national workforce. All this has given rise to the need for a well-trained, dynamic, skilled business executive with an effective personality and fluent language skills too. MBA is a degree which seeks prepare the business leaders of tomorrow. It is like a finishing school, which turns a commerce graduate into a professional business executive armed with enough skills to contribute to the company he/she joins. Non-MBAs miss out on this and they have to spend more time acquiring all this over years.
It is a well-established belief that people with good MBA degrees are more likely to be promoted to top executive positions such as CEO. All top executives such as Sundar Pichai, Satya Nadella, Paul Polman and others have benefitted immensely from an MBA degree. An MBA degree does become an enabling factor in a person’s rise in the professional world. It becomes that much more difficult for people without an MBA degree to rise to the top. They do get restricted in terms of professional as well as financial growth.
People with good MBA degree often have strong networking skills, acquired over time while doing the MBA. The course itself provides a wonderful opportunity to meet leaders from the industry and interact with them. A good institute provides a robust learning environment to its students, with round the year conferences, seminars, interactive sessions, mentorship programmes and internship programmes, all of which provide a wonderful opportunity to the students to make connections in the industry, that come in handy throughout their professional life. The non-MBAs, on the other hand, do not have this advantage.
For all those willing to start their own business, an MBA degree comes in handy to understand the nitty- gritty of running a business and make it profitable. In contrast, non-MBAs will find the going tough as they grapple with decoding the business world and understanding all facets without incurring too much loss or wastage of time.
Thus, an MBA degree provides a definite edge to people over others. They are better equipped to handle the volatile nature of the ever-changing business scenario.
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