The leading universities in the world have been offering MBA programs for decades now. MBA programs have been among the most competitive programs in these universities. However, some people are now skeptical about the MBA degree. Some argue that it is over-rated while some think it is no longer relevant in the current business world. The evolution of digital media has led to the assumption that entrepreneurs can learn all the necessary skills without attending business school. The reality is that MBAs are still relevant even with the digital explosion for the following reasons.
Leadership Development
MBA programs cover more than the basic skills required to run an organization or business. Leading universities like Norwich University focus on leadership development in their MBA programs. Running an organization goes beyond managing daily operations. Some entrepreneurs can do that without any training. However, strategic planning requires leadership skills, especially for businesses that target the global market. The leadership skills acquired in business school apply to any environment including non-profit organizations. The ability to provide solutions and solve conflicts cannot be outdated.
Networking
Professionals can acquire skills in different ways. Enrolling in an online MBA degree is one of the best ways to enhance their skills set. However, the people that professionals meet in an MBA class cannot be replaced. Some students have made long-term business partnerships with their classmates. In fact, some of the successful businesses started as ideas in a business class. An MBA program brings great minds together with similar life goals. Professionals have multiple opportunities to grow their networks and find mentors while pursuing their MBA degree.
Running Complex Organizations
Businesses are now more complex than they were when MBAs were introduced. New technologies and trends emerge every day that entrepreneurs must incorporate into their businesses to remain relevant. Entrepreneurs need professional training now more than ever to run complex organizations. Business owners must be well-equipped to manage multi-cultural teams. The latest trends to hire virtual employees in different parts of the world require dynamic human resource policies. Universities update their MBA programs to suit the changing business environment. Hence, graduates have the necessary skills and knowledge to run a business in the prevailing industry trends.
Building Structures and Systems
The success of any business largely depends on the structures and systems in place. An entrepreneur can multitask and do several managerial tasks at the initial stage of a business. However, a large business requires good systems, policies, and structures that ensure its survival even when employees leave. An online MBA program is the best way for entrepreneurs and professionals to acquire skills to establish such structures and systems. The knowledge also helps entrepreneurs to train their managers to run and improve the established systems.
MBA programs have undergone different changes over the years. However, the programs remain relevant despite the current explosion in information technology. Some professionals will always require the certificate from a business school to qualify for good jobs. In addition, the leadership and managerial skills taught in business school cannot get outdated even with changes in the business environment. Any entrepreneur with a dream of building a successful business needs to enroll in an MBA program.
