Arguably the most preferred post graduate course in the world, the Master of Business Administration has brewed a fair share of controversy over the years whenever issues pertaining to its suitability in the business world are focused on.
This paper hence seeks to bring to light some of the issues that influence individual decision making on weather to take an MBA degree or not as well as some of the obstacles which may be encountered while making that all important decision. MBA has gained worldwide recognition and the demand for its graduates in most of the international business enterprises has been on the rise.
This has also led to its dispensation in online platforms so as to reach out to students from vast geographical backgrounds. This paper also expounds on information from various schools of thought as well as ideas brought forth by various elites. It also seeks to put clarity to the factors which influenced my decision to go for a degree in MBA.
There are various reasons that could arouse an individual’s interest to take a masters degree in Business Administration. This may be because of the financial and career gains that such individuals’ can be accessed to in the process. For starters, an MBA course can help an individual go up the corporate ladder in a business institution.
This hence comes with a hefty salary package bringing the much sort for comfort and prestige to the individual within the business enterprise or institution and in the society in general.
Recent surveys have indicated that objective and committed MBA post-graduates are more likely to advance to top management positions in their respective corporate areas of jurisdiction. Most start-up companies also employ MBA graduates with adequate skills to head their operations both internally and externally.
This is as a result of the skill enhancement experienced once they get to their second year of study where they specialize in selected management domains.
Individuals taking MBA are also exposed to a wide range of areas of specialty such as finance, marketing, operations management, accounting, supply chain management, economics, organizational behavior and project management which also enhance their chances of getting executive employment.
The Graduate Commission council which keeps track of hiring at the universities concurs with this finding considering their release of a very chilling dossier on how the demand for MBA graduates sky-rocketed between 2009 and 2010 with almost ninety percent of these individuals getting access to job opportunities with reasonable salaries and allowances of up to a whooping seventy nine thousand dollars.
MBA graduates are usually very flexible since once they are done with their various specialization options they are usually able to blend quite nicely in any business environment as a result of the diversity of skills and expertise which they are often exposed to during training. Managerial skill acquisition is another benefit which comes with studying MBA.
Real time situations that involve management and problem solving can be dealt with adequately by employing the knowledge gained during MBA studies.
This also helps many grandaunts start up their own businesses since they become business savvy as a result of the rigorous hand-on training in dealing with real business issues. Consequently, students from non-business related backgrounds have an added advantage since they can enhance their practical knowledge in the field of business administration during this training.
Despite all the benefits that one can gain from studying MBA, there exist various challenges which may prevent an individual from taking this high stakes course. Among them include its cost factor.
Both online and physical MBA degrees are estimated to cost an average of about thirty thousand U.S dollars which is reasonably high and may hence block prospective students who may not be able to get sponsors from seeking admission opportunities.
The fact that, the course also takes a significant amount of an individuals time, attention and energy is also worthy of note since this may also dampen the spirits of prospective students who may not have that much time in their hands. MBA degrees may not guarantee an individual a job or career advancement after graduation hence posing another shortcoming.
Since there are various institutions of higher learning which offer online MBA degrees, limitations such as the lack of face–to-face interaction and networking opportunities also come out very evidently since the use of online communication cannot measure up to the traditional classroom setting which is more favorable for interactive learning.
In conclusion, it is hence safe to mention with certainty that the credibility of this information is not in doubt since the sources cited in this essay are quite recent and were authored by individuals with unquestionable credentials in the field of business and economics.
On another note, MBA degrees as well as the education process itself impact quite positively on individuals by not only helping them achieve a respectable stature in the society but most importantly enables them to earn better wages.
Career individuals who make going up the corporate ladder a priority like me often have no choice but to go for post-graduate courses like MBA. This is since in most cases; it is only possible after one upgrades his or her level of education. It is due to these reasons that I decided to go for a master’s degree in Business Administration.
References
Bouknight, O. & Scott Shrum. (2007). Your MBA game plan.Washington D.C: The Career press, inc.
Meyer, L. Eugine. (2011). Where the M.B.A. jobs are. Jounal of the U.S News., 04-22.
Rhonda, Watson. (2012). Ethics in finance.jounal of Ethics and conduct of businesses, sixth edition, 341-344.
Stone, A. M. & John Desmond. (2009). Fundamentals of markets: A critical evaluation. New York: Routledge Inc