The question “Why a MBA” is one that haunts both MBA aspirants and recruiters. Today slowly MBA is becoming a fad which often delivers much less substance to the business and is mostly about the way the little that is delivered is packaged. The problem is that this issue is also getting recognized by aspiring students and recruiters alike. And a bigger problem is all aspirants face this daunting question during the selection interviews.
So why do so many people start running after the craze despite its apparent limitations unless its from a highly recognizes institute like the IIMs, XLRI, FMS, MDI and the likes?
There are many perceived benefits of a MBA program from the viewpoint of the aspirants.
- Switching career to some other Industry or function within the same firm.
- Starting ones own business venture.
- Progressing to a higher responsibility in the same industry or function.
- Joining a dream company (the hottest being banking, consulting and marketing roles amongst the top business schools)
- Faster growth within a stipulated time in the career track.
- Filthy Lucre (Dirty Money) and lots of it.
So what skills MBA aspirants already posses and what new skills are developed in the programme.
- Technical knowledge – Developed within the programme
- Analytical skills – Strengthened from a basic level
- Client skills – Developed a bit, further developed during post-MBA work.
- Leadership skills – Has to be present in the aspirant’s core.
- Business skills – Developed during the course work.
- Management skills – Refine, but has to be in the aspirant’s core.
- Communication skills – Must be present in the core, but presentation skills are improved.
- Relationship skills – Further refined.
- Problem/Contingency handling skills: Extensively developed in the programme.
- Smart thinking – Has to be present in the aspirant’s core.
So does this justify burning that hole in your pocket and getting burdened by that huge bank loan, unless you are actually doing it from a premier institute? Think before you take the leap and invest your future in less known business schools just for the heck of it.