Indra Nooyi, Tony Wheeler, Sheryl Sandberg and Phil Knight are some significant names in the world that transformed the outlook of the business industry. Today, each of their companies holds an estimated worth of millions of dollars.
Not only this, under their commendable leadership, the organizations prospered and these leaders became an inspiration for thousands of people.
How did they make it so far? Was it by luck or some other shortcut? Well, the common ground for all of these success stories is an MBA education from the reputed universities of the world.
With the correct use of in-depth knowledge and polished skills set acquired from MBA, these leaders made it to the top. Still curious how MBA can boost your career in business? Read along.
7 Reasons to Get an MBA For Exceptional Business Growth
Masters in Business Administration (MBA) is an evolving field. Masses from all across the world are amazed by the possibilities it offers to the young business minds. And, not just limiting to the young, the benefits of MBA are so rewarding that even the experienced professionals are taking a bow towards pursuing it.
Many senior-level experts quit their jobs to prepare for CAT and other MBA entrance tests. Why? Because a career in MBA has a potential to reap innumerable rewards in the later. Similarly, this program serves as a foundation stone for those who want to commence a business but are clueless about where to start.
Combining forces for all those aspirants, here we've sought out seven reasons why Masters in Business Administration (MBA) is a perfect fit for a business enthusiast.
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Streamlined Approach
When you commence a business or work in a business firm, most of the ideologies and procedures are new. You may be clueless about from where to start, what should be the first step and how to manage everything on your own. Undoubtedly, you may even make mistakes.
However, when you graduate with an MBA degree, you are much more confident about your work style. Your efficiency of streamlining tasks is high and you are in better shape to find alternatives to any business-related crisis. The whole curriculum of MBA prepares its aspirants to execute efficiently even in the toughest challenges.
Isn't that what an emerging or developing business aspirant need?
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Calculated Risk
Business and risk go hand in hand, bigger the risk, greater the outcome. However, most businesses fail due to lack of market analysis and rash decisions. And, even if they survive one scenario, another may sooner demolish the existence of the business leaving the organization and the entrepreneur bankrupt.
On the other hand, when you acquire an MBA, you have the knowledge to uphold your research, anticipate mistakes, and know when to jump in. Each and every step of yours is well-thought and well-planned.
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Lead Generation and Networking
One of the most significant and underestimated benefits of an MBA education is the contacts you build. Oftentimes, your alumni connections, the ones who used to be your classmates could help you overcome your business challenges.
For instance, if you have a classmate who is working in a prominent marketing company, you can easily arrange for the promotion of your product and services. Similarly, you can also ask them for helping you with client generation, vendor-management, etc.
Simply put the contacts you build while pursuing MBA could be your potential customers or business partners in the long run. Besides, you can also hire some of your classmates that according to you will benefit the business.
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Strategic Capital Investment
Another advantage of acquiring an MBA education is - you learn to manage your capital funds. Also, you learn to make an informed decision for capital investment under any condition using strategic capital planning.
Masters in Business Administration (MBA) helps you learn an accurate projection of capital requirements and when it will be needed the most. The program also trains aspirants to analyze and identify priorities for allocation of the capital resources, discover gaps in funding, and streamline the funding process.
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Refined Skill Set
Nowadays, education is highly based on practical learning rather than just theory-based lectures. Thus, when a business aspirant chooses to apply for an MBA program, they are not only gaining hands-on industry experience but acquiring skills that can be applied to real-world business scenarios.
For instance, having a thorough knowledge of human behaviour (behavioural science) can help you understand the psychology of your team-mates, employer, etc. As a result, it will be easy for you to work together as a team.
Moreover, gaining professional skills also opens the avenue of opportunities in various fields. Unlike career-specific educations like medical, teaching and engineering, hard and soft skills acquired from MBA are applicable across many industries.
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Keen Eye for Right Talent
At some point, every business need employees with the right talent, to grow and make money. MBA provides you with the standard needed to discover who you really need to be a part of your team, why you need them, how to allocate the resources properly, and how much to pay them.
A Masters in Business Administration (MBA) helps you understand management concepts and also shows you various ways of running your business.
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Always a Safety Net
Unfortunately, if your business plans don't turn up soon enough and you find yourself struggling to keep the company going, you can always go back to the corporate world.
With an MBA degree from an alleged college or university, you have job security. You can easily find a job and restore your financial situation. When you find your financial situation stable, you can always pursue your entrepreneurship career. Often people keep their job and side-by-side work on their project till they reach a solid point.
MBA from a reputed college or university can make a huge difference in your career. It can help in cashing your entrepreneurship dream or be a significant factor to rise-high in the hierarchy. The choice is yours to make. Whether or not, you are ready to take a leap for your career growth!
Contributor Bio -
The blog is presented by Sharda University. Sharda University is one of the largest universities in Delhi National Capital Region (NCR) offering 216 varied programmes.