Myths about MBA Program busted

You probably have heard so much about doing an MBA. Trust me, I have heard and read much more! Including the risk! But is life without risks? So I culled up some myths about the MBA program and provided some perspective on them below. Feel free to challenge any of the myths below and let’s have an intelligent conversation.

Myth 1:                  Competent business people don’t need to do an MBA

Self development is necessary to better oneself and employers frown upon people who do not enhance their skills. There are few, if any, better ways of developing ones business skills than completing an MBA program. I haven’t met an MBA graduate (from a reputable Business School) who has not benefited from attending an MBA program. Sure, an MBA is not a prerequisite to succeed in business however having an MBA will make the chance of succeeding a whole lot better

Myth 2:                  Experience isn’t necessary to attend an MBA Program

The highly regarded MBA programs make use of Case Studies to work through practical examples. Without work experience the benefits and contributions of the practical Case Studies become nullified. Having relevant experience, and being able to apply that experience to MBA studies, is essential in getting the most from MBA program

Myth 3:                  MBA Programs are expensive

Good MBA programs are costly to attend. The Return on Investment (ROI) from the good MBA programs (which are usually the most costly) is significant and will be far higher than attending a less expensive but not as reputable MBA program. An MBA is a big investment and should be treated as an investment rather than an expense. 

Myth 4:                  An MBA is best suited for those who want to work for a big company.

An MBA can help you to be successful in almost any organization. Many MBAs are successful executives in large corporations, but there are just as many working in nonprofits, healthcare organizations, higher education, arts management, the military, and government. Some people get MBAs so they can start their own businesses or manage a small family business. Surveyed just before graduation, 38 percent of the MBA class of 2009 say they plan to work in organizations with fewer than 1,000 employees. With an MBA, you can pursue a career in a wide range of industries and in different types of organizations, from a big business or a business of one.

Myth 5:                  The business school culture tends not to be supportive of women

There are big differences among schools, and some are better than others at attracting and supporting women on campus. All businesses are not the same, and neither are all business schools. Talk to school representatives, current students, and alumni to see if the school you’re interested in offers the culture and kind of experiences you want. Ultimately, differences in satisfaction with school culture don’t vary much by gender. Male members of the MBA class of 2009 were a little more likely than female members to say they were extremely satisfied by their school’s culture, 27.3 percent to 24.4 percent. But in general, 95 percent of graduating MBAs of both genders said they were somewhat to extremely satisfied with their school culture.

Article Source: http://EzineArticles.com/2538769

Author: Dices...

This is my world from different views!!!

5 thoughts on “Myths about MBA Program busted”

  1. In my opinion, I don’t agree with all of this, iv worked in many orgs and I can tell u that an MBA is not a criteria or a sure basis to work in these orgs. One thing I have observed is that people have over rated some of these progs and this has been the basis for the sometimes unreasonable fees charged for them by universities. I tell people to always have an inner conviction for why they want to take up Masters progs and what they plan to do with it afterwards;more like a uses and grat ification approach. But to speak for it to the point where it is given a “mother of all” status cuts across to me like a form of consolation to the would be student.I know practically many top executives of many multinational corporations that do not have an MBA and have in the last 8 years climbed to the higher rungs of the ladder in their profession.
    This is similar to the way people blew a first class degree out of proportion and today there are many of them that are jobless yet those with lower classes of degrees are employed in some places the wish to work. As a HR person on thing we have discovered is that people now pride themselves in what qualifications they have than in what they can offer. This makes valid ur point on experience,this has an edge over qualifications; employers are seeking employees who can practically engage in problem solving.
    I am not saying an MBA is not good, but your piece is one sided and a bit shallow owing to the fact that you talk about an MBA like its the key to any job in any organization which is so untrue and unfounded. If you have decided to go in for an MBA, that’s good so long you have a well thought out plan for why you have erolled and what you plan to do with the outcome. All the best.

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    1. Hey Pido, thanks a lot for your comment. And for the record, I DO NOT believe an MBA is the key to success and I can give a thousand and one examples to buttress this fact.
      Nonetheless, I would also state that I have come across a thousand and one examples to state that an MBA also puts many people in a good position to radically grow their career. Ultimately, an MBA only magnifies what you have on the inside, IMO. As regarding the charges, I agree that is quite high but the way I see it is this: people take loans and save towards satisfying gratifications such as cars, houses, even to other things such as TVs, furniture, etc. So why can I not invest so much in my self development, if I deem it fit.
      Well, candidly, I am on a journey of self-discovery myself and I definitely will keep you updated on the progress. And I promise that at the end, based on my experience and other people’s experiences, I will give a very objective opinion about the program. In the mean time, please bear with my excitement:)
      By the way, Pido, thanks for giving the 1st comment on the my blog. Please keep them coming as I like getting balanced perspectives on issues.

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  2. @Pido, I don’t think Deji’s point is that an MBA is an all-in-all. And whatI even think that Deji’s is talking about is a top-rated MBA program which is way different from an ordinary MBA in content, structure and delivery.

    We can argue that there are a lot of MBA graduates who don’t seem to bring much to the table and as such make an MBA look like a joke. But just like anything that has worked well for a while, many casual people run to grab a bit of the pie and end up making light of it although this is not very likely with an Ivy league MBA which is why so much attention is paid to your SOP(Statement of Purpose) and then usually a follow-up interview before admitting you. Some of these steps help a great deal to sieve out casual students and even challenge the serious ones to search inwards into their souls. And all of these bring us back to the point of deliberateness – knowing for yourself why you’re going in and what you want out of it. This does not just apply to an MBA alone but any graduate program you want to undertake – and really blessed also is any undergrad who understands this as well.

    The courses/modules of any graduate program , talkless of a top MBA, are bound to change the participant/student except you’re totally uninterested in the program – maybe forced to do it by parents, unemployment, employer, spouse etc.

    A deliberate MBA is valuable but should always be well thought out. You really won’t know how much you don’t/didn’t know until you start learning – Good education is indeed eye-popping.

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  3. Interesting. While, I do not think an MBA is necessary to succeed in the workplace, I do feel that, if used properly, a top MBA can be used as an accelerator. Also, top MBAs provide opportunities that are not easily available otherwise – like working for a top tier consulting firm, banking or even PE.
    So an MBA, in and of itself doesn’t entitle you to success, but does provide opportunities where attributes and skills that you already bring to the table will help you become successful

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    1. I absolutely agree with you on this one! It’s usually said most people that are admitted into this programs are probably people who will have succeeded anyway without the MBA. it does really help accelerate the process and more so creates life long relationship and partnerships that could prove invaluable in the future!

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