Why MBA Is Important
In the corporate world, an MBA qualified professional is trusted with navigating the company through demanding situations in an unpredictable business environment. The answer to Why MBA is Important lies there itself. With more and more complex scenarios, companies will look to hire someone with considerable field knowledge as well as management acumen and this can be only obtained through a management degree. If you are looking to enter the industry or start your entrepreneurial venture, it gives you all the tools to do so.
Why MBA?
As a degree, there are innumerable answers to the Why MBA question. Some of them have been bulleted below.
- Industry-Linked Qualification:An MBA degree, more than any other, is designed in consultation with industry experts and pundits. Therefore, the course structure and syllabus is much more suited to the current needs of the market-leading to immediate absorption by employers. Further, there are hosts of industrial placements and internships opportunities that help retain the edge.
- Ladder to Executive-Level Jobs: Positions higher up in the hierarchy require a higher level of qualification to unlock. This is Why MBA is important as it gives you the key to progress further into management-level positions such as
o Consultant
o Director
o CEO/CFO/CMO
o Venture Capitalist
o Regional Manager
o President
o Vice President
- Specialisations:Unlike a general degree, an MBA typically carries a specialisation in which the candidate chooses to further his career. There is a long list of specialisations on offer ranging from Finance, Human Resources Management and Accounting to emerging options like Aviation Management, Healthcare and Media Management, amongst others.
| MBA Business Analytics | MBA Human Resource Management | MBA in Petroleum Management |
| MBA Fashion Management | MBA Media Management | MBA Aviation |
| MBA Event Management | MBA Insurance and Banking | MBA International Business |
| MBA Operations | MBA Strategy | MBA Consulting |
| MBA Marketing | MBA Information Technology | MBA Communication |
| MBA Entrepreneurship | MBA in Engineering Management | MBA Rural Management |
| MBA in Supply Chain Management | MBA Finance | MBA Healthcare Management |
| MBA Product Management | MBA Interior Designing | MBA Accounting |
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- Personality Development: As a management degree is more practical and client-based than theoretical, it stresses on your personal development heavily. This includes working on your skills of oral and written communication, leadership and motivation, team-work, negotiation and delegation, critical analysis and problem-solving and much more. Some colleges also offer foreign language and business writing electives to help in your development.
- Entrepreneurial Spirit:The orientation of the program is more towards seeing business from an entrepreneur point of view rather than a worker’s point of view. You will be expected to tackle various real-world challenges as if you are in charge of making those decisions. This culture will be inculcated through case study analysis and discussions, group and individuals projects and other methods.
- The Program Suits your Needs, Not the Other Way Round: In other words, there is an MBA degree program which fits your career objectives, timing considerations, specialisation choice and much more. A few of the options include Executive MBA, Part-Time MBA, Distance MBA, Dual Degree MBA, Integrated MBA, MBA with a Professional Year Gap, amongst others. This is an important Why MBA Answer.
- Boost Salary Packages: One of the most popular answers to the Why MBA question is that it significantly boosts your profile in the employment market. Not only that, but it also provides you with the potential to grow and get promoted in the future with much higher packages and perks.
- Opportunity to Learn from Peers from Diverse Backgrounds:A major advantage that an MBA candidate has is the opportunity to learn from their fellow mates who hail from different backgrounds and experiences. You may meet people who may be a current CEO of a company, an international student, a young professional who may have substantial experience in the industry, a fresh business graduate and many more interesting people.
- Significant Perks: Apart from the above, there are many perks that an MBA degree gives you. From the opportunity to travel the world to learn different languages and from enjoying corporate hospitality to enjoying the experience of carrying a company from ground zero to sky heights, it has almost everything.
- A Chance to Study at a Top B-School: From Harvard Business School to Yale School of Management and from MIT Sloan to INSEAD, if you get into a top-level business school, the tag itself will take you places. This is in addition to the elite level professors you learn from, high-quality industry links, meticulously designed courses, picturesque campuses and much more.
- The network is Net-Worth: In management parlance, your network is your net worth. In other words, your links are everything. While as a college student, you will benefit from the alumni links of your seniors and the university, this skill helps you in getting you a job to switching and meeting like-minded people if you are planning to begin a venture.
Why MBA Essay
The Why MBA Essay or the ‘Why Do You Want To Do MBA’ question is a common fixture in countless management interviews and admissions. It is also not a surprise that most candidates struggle with it. The key here is to answer honestly and directly. Be clear as to your objectives and even if you are not sure, pick a suitable one for the interview and prepare to keep that in mind. Explain the particular details from your career that have propelled you to pursue the course and now an MBA will be the next step towards your goal. Be convincing, precise and honest in your Why MBA Answer.
What after Why MBA Answer: Admission
If you are sure of your Why MBA Answer and Why Do You Want To Do MBA, here are the steps you can take.
- Follow and fulfil the minimum eligibility requirements[qualifying degree, minimum marks, industry experience, etc. as required]. 2-4 years of experience is recommended.
- Submit GMAT/GRE. GMAT is recommended but GRE is also widely accepted.
- Submit IELTS/TOEFL/PTETest Scores [as required]
- Submit theApplication Package [Passport, Statement of Purpose, Two/Three letters of Recommendation, Transcripts, Financial Support Statement/Funding Essay (if applying for funding), etc.]
- Pay theApplication Fee
- Personal Interview/Group Discussion/Writing Task[if required]
- Typically, your decision will be updated and/or mailed to you on your registered email id. It may take anywhere between 2-3 months.
- Deposit the requisite Tuition Fees
- Submit Student Visa Application [may vary as per Embassy regulations]
Why Do You Want To Do an MBA? Really Why
If you are struggling with the question, try asking yourself the above question repeatedly, work over it, analyze your strengths and weaknesses and come up with a solid answer that you trust and wish to follow.