Among the many higher education degrees, the Master of Business Administration (MBA) stands out. With each passing day, this course gets increasingly popular given the lucrative career prospects a graduate in the course enjoys. Here is the proof, according to the 2018 Corporate Recruiters Survey released by the Graduate Management Admission Council (GMAC), four out of five companies across the globe plan on hiring MBA graduates.
That said, a whopping 73,556 students in the US took the GMAT (the worldwide recognized unofficial test for MBA courses) in 2018 alone. So, why is the MBA this popular? It imparts useful knowledge and practical skills in graduates, which, in turn, enables them to advance their careers in the lucrative world of business. These skills and knowledge are derived from the following vital topics:
Leadership and Management
For success in the business world, you need to be conversant with how to effectively manage people to bring out their best. For this reason, MBA programs focus on management and leadership topics. Today, management has expanded beyond the quantitative analysis of finance and related topics to encompass the modern views of management education, for instance, issues such as leadership, strategy, and organizational behavior.
By the time you finish your MBA, you should have learned management and leadership strategies. Apart from that, you should be in a position to practice the principles you have grasped in real life. In most MBAs, you will have to collaborate with your peers at some point, thus, offering you excellent practice for future operations in the workplace.
The management and leadership skills you learn from your MBA are invaluable to your career after graduation. They enable you to be an effective manager in addition to helping you build positive and working relationships with your team. Case in point, the right skill set will allow you to notice when a team member is unhappy with the workplace and act appropriately.
Marketing
Your ability to market admission services and goods is critical whether you work in an international company or run your own business. When done right, marketing enables you to effectively:
- Spread the word about your firm’s products/ services to more people
- Target the right audience with the right message at the right time
- Build customer relationships
- Boost brand reputation
- Increase conversions/ sales
As a business player, you also need to be in a position to market yourself. It’s because you might, at some point, need to convince others that your business cause is worthy of their investment. Moreover, by selling yourself effectively, you can attract the right employees.
MBA programs teach you the mathematical aspects of marketing, for instance, analytics. Besides that, you learn about the soft skills you need to possess to be an excellent marketer, for example, good communication abilities.
Other marketing related topics you might learn during your MBA include product strategy, branding, and consumer insight. On occasion, you may learn about specialized marketing fields such as e-commerce, retail, and digital.
Business Operations
Despite having a background in business, you might not have had enough opportunities/ time to learn about business operations. A lot of activities happen behind the scenes that contribute to the eventual success of a business. Learning the everyday undertakings that go into making a business successful is an essential aspect of MBA programs.
Experts contend that familiarizing yourself with the problems that arise from business operations can help you have a successful career. In most cases, students with a background in this area have the edge over their counterparts upon graduation.
So, as you take your MBA, be sure that you comprehend everything to do with operating a business. For assistance with my business operations assignments, I always do my homework with help from business professionals. I recommend that you do the same.
Finance
Finance is a field of study that deals with the management of money. No matter your business goals, your comprehension of this issue will determine your success in the workplace. MBA topics such as assets, funds, liabilities, and investments help you learn how to manage large amounts of money.
While pursuing your MBA, it is essential to pay attention to various branches in this field, namely personal, corporate, and public finance.
Entrepreneurship
In the world of business, the ability to make innovative decisions is greatly valued. So, as you pursue your MBA, it is vital for you to pay attention to your entrepreneurship class to ensure you familiarize yourself with useful skills such as leadership, strategy, and finance.
Networking
In the course of your MBA, you will interact closely with people from all over the planet. These interactions expose you to various business practices, thereby enhancing your business experience. So, as you pursue your MBA, be sure to make the right connections. This way, you will be in a position to get your CV in front of the right person upon graduation.
In conclusion, these are not the only MBA topics you will learn during your study. However, these are topic you need to pay special attentionto as you prepare yourself for a career in business.
