Management is the art of understanding the things that you want to do and seeing that they are done in the most appropriate way. According to Kotler (2003), management is the process of controlling and directing a group of individuals or entities for the purpose of coordinating and harmonizing that group towards accomplishing a goal. A Master of Business Administration (MBA) program is a very important program in the plight of taking a career like finance to the next level. Students who have mastered business are normally awarded this important postgraduate degree. Therefore, the three valuable things that have been gained from this program and which in turn have facilitated the overall development of becoming a “world class manager” are business knowledge, leadership abilities and networking.
The business knowledge gained from the MBA program is very important in implementing business strategies and concepts. United Network comments that this program is not confined to business as many people understand it, but it can also benefit individuals to enter into executive positions in the public sector and government jobs as well (p. 4). This means that, having majored in finance among other degrees; accounting, business management, economics, entrepreneurship, information systems, marketing and operations management, it is possible to operate or rather get a position in a business oriented organization as a finance manager. Most firms in the world have a set of plans which are implemented in order to achieve the stated objectives; these plans may involve projects of the continued operation of existing activities. Financial knowledge is one of the vital elements of business administration and it is wholesomely gained from learning MBA. This implies that careful resource selection and application in a view to reach a competitive advantage towards the future events or trends in business can be implemented through the knowledge gained from Business Administration, thus it has facilitated my development of becoming a world class manager.
Another aspect of MBA is gaining leadership abilities. Through assignments, rigorous training, reports, presentations, assessments and group projects, this program have presented me with the needed skills to tackle real-life business situations. In this light, there is a distinction between having the vital business skills and not having the required abilities; essential business knowledge enables people to become leaders in their chosen field. The MBA program has enhanced the ability of creating strong vision, risk taking, efficient communication, adapting to change and strong values which are all essential elements of leadership. According to the Bureau of Labor Statistics (2008), the work of financial managers is to “oversee the preparation of financial reports, direct investment activities, and implement cash management strategies” (p. 1). All these functions are learned through a Business Administration degree and hence have facilitated my leadership abilities in becoming world class manager considering the fact that most organizations in the world have one or more financial managers.
The final vital concept that has been gained from MBA experience is networking. The alliances formed during the MBA course between classmates through group projects, presentations and assignments have improved the overall association knowledge. United Network(2009) notes that, “the associations formed during the MBA course are resources that are invaluable and can be drawn upon for years after the MBA degree has been achieved” (p. 6). Thus, in the development of becoming a world class manager, basic knowledge of business agreements and associations in business administration are essential. For instance, managers are normally involved in organizational buying behavior in which organizations ascertain the need for purchasing products and services and evaluate and choose among alternatives (Kotler, 2003). In this context effective buying decisions are made through collective structured decisions which need cooperation among the managers and also the organization and its suppliers; this concept has been experienced through the MBA program.
In conclusion, the MBA program is relevant to all businesses and sectors through the experience of business knowledge, leadership abilities and networking which help individuals to build on their anticipation of having a business management career as “world class managers”.
References
- United Network (2009). Masters of Business Administration (MBA) Programs.
- Bureau of Labor Statistics (2008). Financial Managers. Occupational Outlook Handbook.
- Kotler, P. (2003). Marketing Management. New York: Prentice Hall.