Meet John and Stacy! They both are very ambitious people who dream of building a brilliant career and becoming successful managers. Their self-confidence, tenacity and perseverance have helped them progress to the position of department managers. But they want to progress more. Researching job vacancies in the labour market, Stacy and John noticed that one of the requirements for managing positions is an MBA degree. What stands behind these three letters? What is an MBA, and what is MBA for?
In fact, MBA - Master of Business Administration - is a set of programs and the most relevant and highly regarded business education in the world. It is fundamentally different from an academic education and short-term training. Academic higher education, as well as short-term training and courses, are typically designed to focus on only one field such as economics, marketing, or technical disciplines. As opposed to them, MBA is a holistic management education that provides comprehensive knowledge and develops all the competencies and practical skills necessary for successful work in various business domains: business strategy, finance, marketing, personnel management, leadership and other important aspects of business. Indeed, to be successful, a leader must understand all the nuances of the company's activities. Depending on the age, experience, and career position, a person is offered three types of programs at the start of their education. These programs are MBA, Executive MBA, and DBA. At the end of the article, you’ll find a link to a short video, which details the difference between them.
John and Stacy already have higher education degrees. However, they have already made sure that academic theory, one-time short training, as well as their own experience of trial and error are not enough for a confident growth in career and business. It is the system approach and practical component that are the key value of good MBA programs. At MBA courses, students solve their real business tasks, carry out real business projects, study tools using the example of their own companies and those of their fellow students, and, as a result, they get an opportunity to immediately apply the acquired knowledge in their professional activities. As a consequence, the acquired knowledge and skills make it possible to get a significant career and income growth to the very top of the corporate world.
Studying the information about the added value of the MBA programs, Stacy and John have collected relevant statistics. As it turns out, in managing positions, a graduate of a good MBA business school has an advantage over a person without an MBA degree. The salary of an MBA graduate is usually 25-30% higher than that of the average person! What's more, most companies often require an MBA degree in their management vacancies.
John and Stacy also discovered that the average income of a graduate of a good MBA program increases by 60-70% in just a few years! And students of the best MBA schools increase their income even during their studies! This fact eventually convinced Stacy and John that studying for a good MBA program will be beneficial for them. After all, with increased income, they can pay off the tuition costs in literally a year and a half or even earlier. After that, the increased salary will be their net profit.
Of course, these statistics are reliable when it comes to graduates of a good MBA business school. Unfortunately, as John and Stacy found out, there are some not very good ones too. There are even those that deceive applicants for an MBA, varnishing the poor quality of their programs with fake ratings, accreditations and other fake honours. You can learn more about ratings and accreditations by following this link: https://emasglobe.com/accreditation-and-ranking
Studying what an MBA is, John and Stacy realized that the main thing that an MBA gives is practical knowledge and skills. They also agreed that it is very important to be sure of the quality and depth of the knowledge, as well as the excellent reputation of an MBA school. John and Stacy realized that in order not to make a mistake when choosing a school, it is essential to study reviews of business schools and MBA programs on the Internet to find out what graduates of various MBA programs think of the quality of their MBA education and of the results they achieved. After reading the reviews, their choice fell on an implementation business school, where all teachers are active businessmen and where students carry out many implementation-based projects on the basis of their own practical tasks.
After studying for just a few months, John and Stacy were able to offer their management several improvements that significantly increased the profits of their companies. Without waiting for graduation, they received a promotion and a raise in salary.
Now meet Linda and Martin. They both are small business owners. They put their hearts into creating their own business, but they feel that they lack the knowledge and skills for further development. Wanting to save money and, frankly, being a bit lazy to devote time to systematic studies, they took several courses in management, financial management, and marketing. However, they quickly realized that the information they learnt is scattered and doesn’t show much integrity - the courses were so different and unrelated.
What’s to be done? MBA graduates from a good Russian MBA school advised Linda and Martin to go to study for an MBA. Realizing that they had wasted their time and money, Martin and Linda regretted not having done so earlier. Attending separate trainings, they, in fact, have spent more time than if they'd gone to study straight for an MBA, to say nothing of the opportunities they had missed in their business because of not getting their MBA in time. Only by studying at a good MBA school, learning from practical tasks, adopting the best practices of fellow students and teachers, and applying the gained knowledge in your career, you can really boost yourself and your business.
In addition to the knowledge and skills, there is another answer to the question What is an MBA education? This is training in business and management together with active, purposeful, and interesting people like you. New acquaintances and business networks during the MBA course contribute to changes in life and business. People begin to change, discover new talents, and develop new skills, gain self-confidence, set and achieve more and more ambitious goals. Companies under their leadership become pretty profitable.
Are you also wondering what an MBA is and what it is for? We hope that this article has been useful in answering this question!
In conclusion, we’d like to add that studying for an MBA will suit you if:
You are ambitious, want a career and income growth.
You want to increase your value in the labour market.
You want to develop your own business and receive stable profits
You want to gain practical skills in managing people. You are ready to invest in self-development and are not afraid of difficulties.
Is it all about you? Then we will be happy to see you as a student at EMAS Business School, one of the best MBA schools in Russia and the world, the business school where students are taught on the basis of real implementation-based projects. EMAS is the best choice for those looking for profound practical skills to immediately apply and implement them in work and business!
EMAS Business School offers not only MBA programs but also premium Executive MBA and DBA programs that will help you become a top-notch professional!
To see the difference between MBA, Executive MBA, and DBA programs, watch our video: https://www.youtube.com/watch?v=E6WE0ymPE2M