Is MBA Necessary to be successful in Business?

Irrespective of an individual being an MBA graduate or not, the essential elements that make a professional either in technical or managerial fields are:

  • Knowledge
  • Skills
  • Attitude

One has to attain the above three irrespective of whatever the means is. What a great MBA college can however do is, that it can ensure that it provides an environment, a consortium of like-minded people who have come to attain similar attributes throughout the course.

It is similar to be a part of an army to learn the way of a life for a soldier. Together we achieve faster.

However, many an experts are of the opinion that an MBA college teaches us about being an exceptionally great employee and not an entrepreneur. There are many such examples, where the greatest of the entrepreneurs have left the best B – schools of international caliber and yet succeeded.

Therefore these topics are definitely debatable and let us therefore understand the views of those who prefer MBA over those who do not, from the perspective of capabilities to handle the business. (Business here means the management and administration and does not necessarily mean entrepreneurship)

Yes – MBA is necessary for effective business administration 

General points:

a) Any individual assuming the position of a manager should have the capabilities to handle two most ingredients of business, product and people. Therefore, a well-structured training can help candidates get there. .

b) While the youth across the globe have exceptional ideas, very few have the abilities to bring such ideas into reality. Therefore, the ‘How’ of business can be learnt during the MBA tenure in an environment made for it.

c) While an individual might be exceptional at his or her work, but might be lacking with necessary skills that would stop a candidate from displaying the same with utmost professionalism. Rigorous practices in a suitable environment can one of the remedies for this and thus MBA can help every candidate to be more professional.

d) Decision process and decision making capabilities – While we feel decision making is just a go ahead way, it is not actually. There is a process to take decisions and requires decision making capabilities. To develop such capabilities, it is essential that you have a simulation experience to fail. MBA can provide you that.

The above points mentioned were general in nature and now let us try to understand, what research has go to say:

  1. As indicated by a study directed by Harvard Business Review, a research on the 2000 CEOs was conducted. The CEOs with an MBA degree ranked 40 places higher than those who did not
  2. In the foreign developed countries, an MBA is only advised after a few years of experience. Generally, a professional who is moving to senior levels from the mid management are the one who take up an MBA course. Because, handling business altogether is completely different from being able to manage a few elements of the business
  3. The thorough educational modules of a MBA program which incorporates case studies, bunch works out, internships, tests and different competitions get the candidates ready to handle administrative positions
  4. Throughout the program a huge number of genuine business cases are talked about in a MBA educational programs which confer the candidates to manage such circumstances that may arise during their administration roles
  5. The goal of MBA training isn’t just constrained to quicken career development of enlisted candidates, yet additionally to create equipped expert administrators who could demonstrate their significance in any part while adding to the welfare of the bigger society. A study of 1,500 MBA graduates in 2015 by Bain and Company discovered 66% of women and 59% of men wanted to create positive social effect apart from monetary profits

Some famous examples of World class leaders, who are MBA graduates. Go through these points to know them:

  1. Tim Cook (CEO of Apple), Mary T. Barra (CEO of General Motors Company) and C. Douglas McMillon (CEO of Walmart) are some of top worldwide directors of fortune 500 organizations who hold a MBA degree
  2. Chanda Kochhar (CEO of ICICI Bank), Indra Nooyi (administrator and CEO of PepsiCo), Sanjeev Bhikchandani (author of and Shikha Sharma (MD, CEO, Axis Bank) are a portion of the fruitful Indian business pioneers who are MBA moves on from chief MBA schools.

No – MBA is not necessary to be a great business administrative professional

a) Business professionals need skills and not degrees – To become a successful business professional, an individual needs aptitude which is above par the average level. He ought to have characteristics, without which the business transactions are difficult, for example, great relationship building abilities, integrity, and great leadership skills. He/she ought to have internal strength and capacity, clear objectives, solid certainty level and multitasking capabilities. Imparting these aptitudes within oneself is the most ideal approach to prevail in this field.

All the above are way of living and thus might not need a B – School or an MBA degree to teach us the same.

b) Practical Knowledge – Many a times the debate amongst the industrialists and the educationists, is about the gap that exists between the textbook knowledge and the real time experiential learning needed to run the business.  Right from the management of self to the management of many other living and non-living things around you, only an MBA degree will never be able to get all the real time experience needed for business administration.
c) History repeats again – time and again we have seen that the most successful entrepreneurs across the globe or even in India are either MBA college dropouts or the one who never entered the gates of B – school.

d) Regardless of the way that MBA instructive modules gives a closer to reality examination of business world yet nothing trains better than anything a real experience. Unquestionable pioneers credit their success to experience, business sharpness and sensibility rather than a specific degree.

e) Business universities right now end up getting scolded from a couple of things:

  • for giving too much focus on the return on investment and yet not delivering it
  • for being too academic and forgetting to teach the basics of the practical business scenarios

f) Henry Mintzberg, an educator at Canada’s McGill University, in his new book “Bosses Not MBAs”, battles that standard MBA courses offer “specific getting ready in the components of business, not general training in the demonstration of the officials”. The candidates are normally too much energetic and fresh to learn aptitudes that, in any case, are every now and then less complex to obtain in the workplace than sitting in an examination hall

g) Numerous detectable overall business pioneers explicitly Warren Buffett, Herb Kelleher, Michael Dell, Bill Gates, Oprah Winfrey and some more, who are seen as the paragons of power don’t have a MBA degree

h) In the investigation corridor, students consistently contribute a lot of vitality working out exercises to the most humble detail. In any case, in all actuality, the condition is particular as it requires a smart decision to stay ahead in the race of enraged test

With a prod in the amount of B-schools, MBA is transforming into a pattern among masses. The idea of guidance gave is in consistent rot as the huge focus is towards the fat check, in view of which B-schools goad hopefuls

Important note to participants of this group discussion:

The group discussion topic being read he by you here is expected to be discussed during the admission process of an MBA college. So ensure that you are diplomatic enough while you express your views on the topic and just do not go ahead with the flow.

Without this, your purpose of applying for the course will be questioned and will definitely have some hiccups in your PI or overall score allocation.

For more GD/PI Topics Please Check below link