Is an MBA Degree Really Worth It? The Right Reasons Part II

to prepare your career for the future. I have regular conversations with MBA graduates and executives, and one topic that comes up frequently is the significance of having "future-ready skills." But what exactly does all of this entail? It indicates that a growing number of businesses are reevaluating and revising their business strategies in an effort to emerge from the pandemic in a stronger position than they were in before it began. A crucial component of this is making sure you recruit qualified individuals who possess the necessary abilities. It is important that you share the same mentality. Asking yourself, "How can I expand my skillset and capabilities to be the best candidate for these roles?" is an important question to ask yourself.

Empathy and management of teams are two of the most sought-after abilities by many companies today, along with the ability to see into the future, establish long-term objectives, and influence stakeholders from a variety of different backgrounds. Students that are interested in developing skills related to influence will frequently have the opportunity to do so during their time studying for an MBA.

Many students participate in case study competitions, which are designed to simulate the problems that companies are now facing and ask the students to present their potential answers to a panel of judges. By working on group projects alongside individuals from a wide variety of backgrounds, participants in these programmes gain valuable knowledge on how to develop their capacity for effective communication and collaborative problem solving. Along with rigorous analytical work, the development of soft skills like this is a central focus of MBA coursework.

This is not a terrible reason to seek a master's degree in business administration (MBA), since it could be the key to getting the experience you need to have a competitive advantage in the employment market.

to investigate emerging markets or functional areas. An MBA may be able to assist you confront the difficulty of changing careers with open eyes if you are interested in making such a change. When attending business school, you will have the opportunity to work on group projects and case studies that provide an in-depth look into a variety of different businesses and sectors, as well as interact with classmates, teachers, and a network of alumni who come from a wide range of professional backgrounds.

Consider the case of a student with whom I had a conversation not too long ago. She has two professional goals: first, to transition into the biopharmaceuticals industry, and second, to one day head an organisation. She came to the conclusion that earning an MBA would enable her to achieve both of her objectives because it would provide her with access to resources that would assist her in learning about and more easily transitioning into a new industry, and it would also provide her with the opportunity to acquire the leadership qualities she will need 10, or even 20, years down the road.

Some students even enrol in business school with the intention of pursuing a career in entrepreneurship. They often go on to build their own enterprises or join early-stage companies, including some that were established by previous graduates of the programme.

One important aspect of the MBA is that its skills are transferable to a wide variety of fields. These programmes offer a variety of specialisations and concentrations, like as strategy, corporate finance, and operations, that students can study in order to determine whether or not a particular industry is the best fit for them at this point in their careers.

Having said that, prior to obtaining this degree, I would advise you to complete your research and perhaps even gain a couple of years of hands-on work experience to help you figure out what areas of study you want to concentrate on. This is true even if you have the best intentions possible. When you are already a part of it, you will want to select the courses, chances, and activities that not only fulfil your goals but also make the most efficient use of your time.