Do we need specialists with business education in the modern world?
Usually, to prove the uselessness of higher education, skeptics have resorted to references to authorities: just look at how many people have succeeded without having an education! Bill Gates, Paul Allen, Steve Jobs, Steve Wozniak, Henry Ford, Richard Branson…
All of them were able to achieve unprecedented heights and proved that it is possible to become an influential and rich person without long and expensive education. Unfortunately, no matter how great this list is, it does not prove anything.
First, the list of successful people with higher education will be more authentic. If we are talking about finance, then the most successful investors had not just a higher education, but a higher financial one: Warren Buffett, George Soros, Peter Lynch.
The general world researches give the following figures: approximately 40% of those who have achieved financial success do not have a higher education. The figure is pretty decent, but it also means that 60% received a high-quality business education.
Secondly, the research itself on the relations of education and the achievement of financial success are made on the basis of individual examples, and even the most successful ones. To identify the influencing factors, there are certain procedures that are simply ignored in financial success studies.
Today, creating a truly new, large company with fresh ideas is almost impossible without good connections and a team of specialists. This is exactly what you can get thanks to the MBA, because business education is not ordinary lectures and notes at the institute, but the acquisition of new useful contacts and relationships.
Modern business simply needs leaders who know and understand the relationship between the public sphere and the philosophical, cultural and social implications of the growth and expansion of business influence in the global arena. It is necessary to understand that a market economy cannot be kind, only by tremendous efforts and “struggle” it is possible to break out to the very top.
The experience of effective leadership in the field of private entrepreneurship, which has accumulated over the years, can be used to improve work not only in the economic, but also in the public sphere. Since the government is not able to solve basic social problems, the need for intervention by private business is becoming increasingly apparent.
According to many sociologists, business education, in the future, will bring enormous benefits, for both business development and the development of society as a whole. That is why the world needs more business education professionals. The future of the world community depends on them.
After the company has managed to cope with the first difficulties associated with the lack of funds, lack of qualified people, with attempts, often, of state bodies to somehow influence its development, the need for regular management emerges. And then there is a need for high-quality knowledge of business management.
“Back in the 90s, the imperfection of world business laws allowed ingenious self-taught teachers to somehow overcome the situation,” – says Branagan Reiling, an expert at Pro-Papers, an MBA graduate, specialized in business operations. “Today, talent alone is not enough. The training system comes to the first position, which allows you to successfully overcome all difficulties, build a successful business strategy,” – claims Branagan.
After a conversation with successful graduates of business schools, Pro-Papers experts highlighted the main advantages of a quality business education for running a successful business or career.
Even with a sufficiently large practical managerial experience, a comprehensive program helps them to deepen and systematize, suggest new areas.
Its presence increases the status and value as a professional in the labor market. In itself, having a diploma is not an advantage in the labor market. But training helps to improve status and level of professionalism, and this certainly helps in your career.
If a person plans to develop a career as a top manager, especially in large international business, this is certainly important. Today, if a person claims to be a top manager in such a company, an MBA diploma is no longer an advantage, but an indispensable prerequisite.
it is especially useful when functionals from different business areas come together in a group. When a team together develops a project, it helps to share experiences, to get to know other businesses better – what new technologies are being introduced in them, what synergy effect can be obtained. It is easy to maintain relationships with classmates after graduating – business schools hold events for graduates.
The opportunity to see business as a system.
Working in a particular function, whether marketing, manufacturing, finance, sales, or HR, you think that it is the key to the organization. And such a narrow view makes it difficult to develop a career manager. The MBA forms the understanding that the remaining functions of the business are no less important, and shows their interconnections.
The MBA program is built according to this principle – from macro and microeconomics to modules dedicated to both specific functions and their integration. Such a comprehensive vision opens the way up the career ladder – the higher the level of management, the less specialized knowledge is needed, and the more – the general, the higher the value of the so-called Helicopter View.
If the goal of your education is to get a diploma as a “sheepskin”, like a piece of paper that you will hang in your office, you can hardly increase your personal capitalization and return the money you invest in education. But if your goal is to gain new knowledge in order to bring to your company or to the company in which you will work or build, this value, along with your daily work, will increase your personal capitalization.