How an MBA Will Advance You Towards Global Leadership
The following contribution is from the Berkeley Haas School of Business portal, which owes its existence to visionaries, professors, and gold rush pioneers who gave birth to a thriving field of study in the US and established the second oldest business school in the country and the first at a public university.
“At Berkeley Haas, we believe that a critical step in redefining the business leader is getting the culture right, because this culture encourages students to develop the mindsets and behaviors of innovative leaders.”
The author of the article is Rahul Sampat who was Director of Admissions for Berkeley’s MBA Programs for Practicing Professionals from 2015 to 2019.
Driven by rapidly changing technology, products, information, and jobs have spread across borders and cultures to make our world seem smaller than ever. Regions in every corner of the world have more opportunities to ride the wave of globalization, allowing economies around the world to experience growth.
All of this means that leading and working with people from different regions of the world
Is more common (and more necessary) than ever before. And, to be effective in a global marketplace, cross-cultural leadership skills are essential. This goes beyond embracing diversity.
It’s about learning how ethical decision-making, management strategies, and cross-cultural communication skills will influence and impact your ability to perform well on a global platform.
Discover how an MBA will better prepare you to meet (and exceed) the business expectations of the increasingly global economy.
Critical Thinking with a Broader Worldview
Believe it or not, we’re inherently biased. That doesn’t mean we’re prejudiced. Instead, it points to the fact that we all sometimes act on partial or misinformation, or lack the ability to transcend our long-held beliefs, all of which can blind us to real truths or rational decision-making.
Critical thinking is the tool used to arrive at the best possible decision
Despite ourselves and our biased thinking. This is a vitally important skill to learn as leaders, but it is especially important in a global marketplace, where cultural differences are abundant and open-mindedness is critical.
When you enroll in an MBA program, you will have the opportunity to collaborate and debate with an astonishing diversity of students. They reflect different races, ethnicities, and ages. They speak many languages and practice many religions.
They have different abilities/disabilities, gender orientations, and political perspectives
They come from many socioeconomic statuses and geographic regions. This real-time communication with a diverse class can help you find and explore new ideas and thought structures that will improve your critical thinking skills.
Understanding the Science Behind Business Behavior
Throughout your MBA studies, you will conduct relevant research based on behavioral sciences.
Behavioral sciences address why humans act the way they do by drawing conclusions from fields of study such as sociology, anthropology, and psychology.
In a business scenario, you will learn how employees, managers, and customers make decisions by applying behavioral sciences to real-life business applications such as:
– Economics
– Decision research
– Consumer research
According to management consulting firm McKinsey & Company, behavioral science helps organizations address unconscious biases and instincts and manage the irrational mind. By understanding and reacting appropriately to people’s behaviors, you can create favorable business outcomes, without restricting the way your team operates.
Enhance Leadership Skills Around the World
While earning your MBA, you’ll have the opportunity to learn real-world leadership and problem-solving techniques that give you a competitive advantage in a global environment.
Specifically, at Berkeley Haas, the Global Focus program and Trips and Treks initiatives enable students to develop cross-cultural business understanding both in the classroom and on the ground, in countries around the world.
The Global Focus program includes initiatives such as International Business Development (IBD), Global Network for Advanced Management (GNAM), student clubs and activities, and an exchange program.
They allow students to:
– Participate in consulting projects with for-profit and non-profit organizations around the world
– Explore business as it is conducted in fast-growing emerging and developed countries
– Lead clubs, participate in scholarship programs, attend conferences, and conduct research that foster global understanding and provide opportunities to develop and utilize your leadership skills
– By immersing yourself in global initiatives and taking advantage of travel opportunities, you can make international connections with other students, corporate leaders, and alumni who are scattered around the world.
Strengthen your existing skill set
You may also want to consider an executive MBA program designed specifically for professionals with a strong understanding of business and leadership who want to deepen their skill set.
By improving your leadership skills, you increase your chances of taking on a senior position within the corporate, government, or non-profit sectors.
In Berkeley’s Executive MBA program, you can expect to learn leadership techniques specific to a cross-border context, which are particularly useful in high-stakes positions in corporations and within government.
EMBA students have the opportunity to evaluate business models, suppliers, competitors, partners, and customers through a global, rather than a national, perspective.
You’ll also have the chance to apply your findings in real-world settings through the required global field immersion that occurs each year in a global business hub such as Shanghai or Copenhagen.
By studying for your MBA, you’ll be able to practice global business strategies and business communication techniques so that, upon graduation, you’ll be ready to take on a global leadership position with confidence and skill.
5 Reasons Why an MBA Can Boost Your Career
The following contribution is from the Advanced Educational Institutions of India portal and the article has been prepared by their team for the Blog
In a world where globalization and corporatization are spreading their reach at an ever-increasing pace, having well-honed business management skills is always a major asset.
Moreover, with an increasing number of diverse companies choosing the world’s largest democracy as their operational zone and more indigenous entrepreneurs deciding to shape novel and varied ideas, the Indian corporate sector today is the one that is thriving with opportunities.
And all these start-ups and established companies are looking for young professionals with a deep understanding of the finer nuances of the corporate world and business relations.
In such a scenario, earning an MBA degree is no longer an afterthought but a necessary step towards rising to the top professional positions.
So, today, at Advanced Institute of Technology and Management (AITM), recognized as the Best MBA College in Palwal, we will shed more light on this matter and give you all the reasons why an MBA degree can boost your career.
- Advanced Management Skills to Become a Valuable Asset
One of the most important things we inculcate in young MBA graduates is the skills required to keep themselves and their organizations successful.
Through an advanced, industry-focused curriculum, students learn skills like the following that enable them to become accomplished management professionals and keep companies thriving and growing:
– Develop, advertise, and sell the products and services
– Network and build partnerships or connections
– Manage difficult situations and become a problem solver
– Improve employee retention and hire top talent
– Create hierarchies that help the company thrive
Learn national and international trends
Through the curriculum and training you receive during your MBA program, you can learn about the latest national and international business trends, apply the newest management techniques and tools, and challenge yourself to improve your teams, your business, and your collaboration.
It is also a great way to prepare for the ever-changing business environment. Plus, the skills and abilities you gain will work as the best tools to help you in any market or vertical sector you join as part of your career path.
- Get a lucrative salary package right from the start
Studies reveal that MBA graduates are among the highest-paid professionals in the industry today.
As such, earning your MBA degree not only boosts your prospects of employment at top companies but also of getting the best salary packages.
And certainly, when we say that, it is not without reason. The point is that the skills and knowledge you gain while pursuing your MBA program are considered crucial for managing businesses in the corporate world.
Moreover, it is often the decision-making by management professionals that helps businesses turn a profit and grow.
In this regard, MBA professionals are nothing less than assets to business organizations
Hence, they do not mind compensating the right candidates really well. For instance, jobs pursuing an MBA program in Banking and Finance can offer you a salary package of up to 10-15 lakhs per annum.
Also, an MBA from a reputed school like AITM can help you get started with a good package of 4-5 lakhs per annum.
- Get Access to a Wide Business Network
As an MBA student, you will have excellent networking opportunities to enrich your mind and expand the boundaries of your professional growth. You will interact with our professors and teaching staff, who are seasoned experts in business management and will help you greatly expand your management capabilities.
Lastly, you will also get access to AITM’s extensive alumni network, located in various parts of India and beyond. These connections are valued in the management world because they offer a greater overview of the corporate scenario.
As you progress through your course during your MBA years, you will develop a deeper understanding of the business environment and find ways to adapt to its continuous changes.
You will have a greater ability to reflect on major business issues and make appropriate connections between different world issues and global events related to your field of work.
- MBA specializations help you achieve your exact goals
During your final year in MBA, you will be able to choose a specialization from the long list of options on offer. This aspect of the degree deserves special mention because it helps you hone your management skills in specific areas based on your career goals.
For example, if you are thinking of a successful career in banking, you might consider “finance” as your specialization.
However, if your goal is to work abroad or for a global company with regional offices, you may consider a specialization in “international business.” As one of the best MBA colleges in Palwal, we can attest that no matter what specialization you choose, an MBA prepares you for long-term business planning and backup planning.
What specialization does is make you more apt for specific industry sectors, from banking to marketing and more. And the specially honed skills you acquire in specific fields make you lucrative to recruiters who evaluate you.
- Start Your Own Successful Venture From Scratch
At AITM, we have come across many people who prefer to join an MBA course because they want to become entrepreneurs and learn how to start and grow a business.
And it is a widely known and acknowledged fact that the survival rates of startups are higher with an MBA compared to those with no prior management knowledge.
We can never deny the fact that running your own business is no easy feat, but having acquired the skills and knowledge required for it will certainly help you know how to tread the path that leads to success.
In short, we can clearly state one fact from our above discussion that earning an MBA degree can ensure an all-round boost to your career, right from your professional skills and salary package to your acumen.
So, if you want to gain industry-focused management knowledge and want to rise as a highly influential and successful management professional, an MBA should definitely be your preferred course option and AITM, one of the best MBA schools in Palwal, your destination.
Daring to Lead: How Bold Decisions Determine Success in Business and Enterprise
The following contribution is from the Forbes Magazine Portal and author Leigh Burgess who is the CEO and Founder of Bold Industries Group, Inc., Boston, MA
About the Author:
With over 20 years of experience in business, healthcare, and education and a master’s degree in business administration, education, and education, Leigh is an executive with extensive experience in project management, communications, new business, and technology initiatives, and is committed to helping you take big steps so you and your organization can thrive.
Leigh Burgess es Forbes Board Member
In an ever-changing global landscape, the ability to take calculated risks, challenge conventional wisdom, and break new ground is more than a skill—it’s a core philosophy that defines visionary leaders.
This exploration delves into how making bold choices can not only lead to groundbreaking breakthroughs in business, but also forge a fulfilling and purposeful path in personal life.
In the tumultuous landscape of late 2020, as the world grappled with the challenges posed by the pandemic, I set out on my bold journey.
I made the decision to start my own business and go for Plan A. It was a defining moment that demanded courage, resilience, and a willingness to swim in uncharted waters.
Launching a business during a pandemic was no easy feat. The world was facing uncertainty, economies were reeling, and countless established businesses were facing unprecedented hardship. However, I saw opportunity amidst the chaos. I believed in my vision and the value my business could bring to the world, even in the face of adversity.
Taking this bold step meant acknowledging and accepting the inherent risks
The road ahead was bound to have obstacles, but I was determined to blaze a trail and forge my own path. It required not only a strong conviction in my strategy, but also a deep understanding of the dynamic and ever-evolving business landscape.
I knew success wouldn’t be easy, but the pursuit of my entrepreneurial dreams was a choice I made with unwavering determination. Going for “Plan A” was vital. I needed to be intentional and disciplined with my time and focus.
Being Bold in Business: A Strategy for Personal and Professional Success
In the global business landscape, where change is the only constant, the audacity to be bold often defines leaders who make a mark.
Being bold is not simply a tactic, it is a philosophy that permeates both professional strategies and personal life.
In a world that rewards those who seize opportunities with courage and foresight, understanding how embracing boldness can chart a path to success in all aspects of life.
Embracing the Spirit of Boldness
The world’s business giants, from Warren Buffet to Indra Nooyi, have shared a common trait: the courage to take risks and be bold.
This doesn’t involve blind leaps into the unknown, but involves calculated and well-thought-out strategies, often involving taking the road less traveled.
In business, embracing risk and uncertainty is vital
The willingness to embrace the unknown, to recognize opportunities in chaos, sets the stage for growth and innovation.
It’s not about making hasty decisions, but about having the vision to see beyond the current market and into the potential of the future.
Innovation and the Courage to Be Disruptive
Boldness in business is also aligned with innovation. The idea of moving away from established norms and daring to think differently has given birth to some of the most innovative companies of our time.
Disrupting the status quo takes more than just an idea; it requires a drive to see that idea become a reality.
But being bold doesn’t mean setting aside ethics
Even the boldest leaders recognize that long-term success is not achieved without principles. Integrity, responsibility and sustainable practices form the foundation on which bold decisions can be made.
Boldness as a personal and professional path
Boldness is not limited to the walls of the boardroom. The philosophy that underpins bold decisions in business applies equally to personal development and growth. Embracing lifelong learning is a vital part of this journey.
As the global marketplace changes and evolves, so must our knowledge and skills. Being open to continuous learning ensures that we not only remain relevant, but also at the forefront. I believe that we will always
Resilience is equally essential
Bold decisions sometimes lead to failure, but failure is not a dead end, it is a lesson. The ability to bounce back, learn, and move forward defines not only successful entrepreneurs, but also successful people.
Having a clear vision of your goals is crucial in your personal and professional life. Knowing where you want to go and setting a path to get there involves thinking boldly. This clarity of purpose drives success in business and satisfaction in life.
And finally, alignment, not balance, between personal and professional life cannot be overlooked
Bold leaders know the value of investing time in personal growth, family, and well-being. A full life is not only satisfying, but it fuels the energy and creativity needed for professional success.
In the face of change and uncertainty, being bold emerges as a strategy that goes beyond business. It is a way of life that encourages risk-taking, innovation, ethical decisions, continuous learning, resilience, clarity of purpose, and balance.
The path to success, both personal and professional, is littered with choices. The decision to be bold, to embrace the unknown with vision and courage, can lead to uncharted territories of achievement and fulfillment.
The boldness to think differently, act decisively, and embrace all aspects of life with vigor and enthusiasm may very well be the defining characteristic of the next generation of leaders. The path to success is clear to those who dare enough to take it: be bold.
Masters vs MBA: How do I decide?
The following contribution is from the portal of Babson College which is a private higher education institution in the United States, located in Wellesley, Massachusetts, near Boston. Founded in 1919, it offers both undergraduate and graduate programs as a business school and the author is Brianna DiPietro Radicioni who is associate director of content strategy at Babson College
Are you ready to earn an advanced degree in business, but don’t know which option is right for you?
Here we will help you understand the differences between specialized master’s programs and MBA programs. We’ll also help you compare programs like:
– MBA vs Master’s in Entrepreneurship
– MBA vs Master’s in Finance
– MBA vs Business Analytics
– MBA vs Master’s in Marketing
Key takeaway: Deciding which program is best for you, master’s vs MBA, typically depends on how many years of professional experience you have, how specialized you want to be in your career, or whether you want the flexibility to change career paths and apply your new skills and experience in a variety of industries.
Why get an MBA?
Regardless of the program, says U.S. News & World Report, investing in a graduate business education can be a worthwhile pursuit, “yielding big payoffs in terms of knowledge, contacts with classmates and alumni (who can become investors or collaborators), and easier access to resources and capital.”
Master’s in Business vs. MBA Degree
How do you decide between a master’s in business and an MBA? It depends on how many years of professional experience you have since earning your undergraduate degree.
You may be wondering, what is an MBA for? The most widespread of all advanced options in business, an MBA degree offers a well-rounded education in business administration. As a result, an MBA requires taking classes in all business disciplines.
In that case, what is a master’s degree? Master’s programs are typically designed for those who are just starting out in their career. They can help graduates gain additional qualifications before seeking a full-time job opportunity. Master’s programs are also better suited for candidates who want to hone in on a certain specialty or subject area.
You don’t have to decide between a master’s degree or an MBA right now. It’s absolutely possible and common to pursue both types of degrees
Some graduate students jump into a master’s degree to get a head start on entering the job market and then, after a few years of professional experience, pursue an MBA to move into a leadership role or strike out on their own.
Master’s Salary vs. MBA Salary: Let’s Talk About It Is one option better than the other? That depends on several factors.
According to the Graduate Management Admission Council’s Alumni Outlook Survey, business school alumni report that, on average, it takes less than four years to recoup the cost of their education—and then some. Learn about the latest finance MBA forecasts, including the highest-paying finance jobs.
While alumni of specialized business MBA programs report slightly faster ROI times than MBA alumni, this depends entirely on each individual’s personal situation (cost of education, time it takes to complete the degree, and current economic conditions).
Babson MBA: Full-time and part-time programs. The full-time program includes 12- and 21-month options and requires 5+ years of professional experience. The part-time program is self-paced, includes an online option, and requires five to 10 years of experience.
MBA vs Masters in Entrepreneurship
Entrepreneurship MBA programs are often a great choice for established professionals who are ready to pursue a new idea or take a bold step in their career.
According to Best Colleges, MBA programs often help students master the management, leadership, and critical thinking skills needed to run a company.
Unlike an MBA, or even an MBA in Leadership, a masters in entrepreneurship leadership program focuses primarily on developing the student as an entrepreneurial leader, not just an entrepreneur.
Entrepreneurial leaders are uniquely suited to take action, solve problems, and create value
Regardless of the industry, type of organization, or their position. This is because these types of leaders have developed as strong risk managers and have learned to navigate ambiguity.
Babson MSEL: Babson’s Entrepreneurial Leadership program is like a Master’s in Entrepreneurship, but better.
By offering hands-on experience launching a company or a transformational project, students graduate with the skills of a true entrepreneurial thinker. This offering is designed for students fresh out of college, without the three to five years of work experience that many graduate programs require. It is a nine-month, full-time program.
MBA vs Masters in Finance
Looking to differentiate yourself as a finance professional? A Masters in Finance degree helps you accelerate your expertise in financial modeling techniques, coding languages, and communicating financial data effectively.
While MBA graduates find career opportunities in a variety of roles, including marketing, consulting, and operations, most Masters in Finance graduates launch into the financial services sectors or become financial consultants at major consulting firms. According to Piyush Ranjan, founder of admissions consultancy Management Masters, these advanced Finance graduates end up with strong foundations in finance-related fields, rather than developing a general understanding of all business areas, as an MBA graduate would.
After just a couple of semesters, students who graduate with a Masters in Finance typically command high salaries relative to their early-career peers. Payscale lists the average annual salary for a new Masters in Finance graduate at $85,000.
When deciding between an MBA or a Master of Science in Finance, the real question is: how specialized do you want your education to be?
If you attended business school for your undergraduate degree but are looking for a career in finance, a Master of Science in Finance may be the best next step. If you think you could still benefit from a more comprehensive business degree, you can pursue an MBA and find a program that also offers concentrations in finance and other ways to customize your degree.
Babson’s Master of Science in Finance: Full-time, nine- or 16-month options designed for students with one to three years of professional experience. And, at Babson, 100% of 2022 graduates from the Master of Science in Finance program had accepted a job offer within six months of graduation.
Babson’s MBA in Finance concentration allows you to give your MBA a focus, one particularly geared toward careers in investment or corporate finance.
Babson’s STEM MBA concentration in Quantitative Finance focuses on programming and financial modeling, helping MBA students develop the skills needed to analyze financial markets.
MBA vs. Business Analytics Degree
Demand for analytical experts—those who can translate analytics into actionable insights and viable business solutions—is greater than ever. The influence of big data on business decision-making is now a necessity rather than a nice-to-have.
With this in mind, an advanced MBA in data analytics is now a highly sought-after option with high payoffs.
In regards to salary and career advancement, LinkedIn ranked data science as the most promising job in the United States in 2019. The median base salary sits at $130,000, and year-over-year growth in job openings in this field has increased by 56%.
When choosing between an MBA or business analytics degree, you need to decide how much you want to differentiate yourself through your major and whether you hope to make the jump to an advanced degree before a full-time career or after a few years of professional experience.
BOLD Vision Framework
The following contribution is from the portal of The TIAS Executive MBA is ranked 1st in the Netherlands and 12th worldwide for career advancement. In addition, TIAS alumni are the most satisfied with their EMBA: TIAS is ranked 1st in the Netherlands in the areas of overall alumni satisfaction, goals achieved and alumni network. (October 2024)
The author of the article is Ron Meyer, who is Professor of Strategic Leadership at TIAS.
How can I formulate an inspiring vision?
Key Definitions
A vision is a picture of what you would like to become. It visualizes a future self or organization that you would like to strive for – it is not what you see with the naked eye, but what you see in your mind’s eye. It’s not how you see things (your point of view), but how you dream of shaping them. A vision will be inspiring if it outlines an attractive long-term goal that is neither too easy nor unattainable. If it’s too easy, it will simply be a goal. If it’s unattainable, it will be a fantasy that people can’t take seriously. It should be an ambitious dream, not a pipe dream.
Conceptual Model
The BOLD Vision Framework outlines the four key elements that must be defined to have a complete vision for an organization.
At the center is organizational ambition (“How high do we want to set our goals?”), surrounded by the three fundamental strategic questions already discussed in the Strategic Alignment Model (Meyer’s Management Models #32).
Below are the four BOLD conditions that must be met for a vision to be inspiring, which are the opposite of the SMART conditions (specific, measurable, actionable, realistic, and time-bound).
Key Elements
The four pillars of any organizational vision are:
- Organizational ambition. While an organization’s mission should answer the question “why?” (the reason for being), the organization’s ambition should answer “how high?” What is the level of performance that the organization wants to achieve: how big, well-known, impactful, profitable, international and/or sustainable? What does future success look like?
- Market position. The world outside the organization is vast, so a crucial part of the vision is defining “where to play?” – where in the market does the organization want to compete and succeed? Which customers does it want to serve, and which other parties is it willing to deal with, such as competitors, distributors, suppliers, and governments?
- Business model. The next question is “how to play?” – how does the organization want to create superior customer value in the future, thereby defending itself from competition while also dealing with all the other parties in the chosen market? What are the intended value propositions, what system of activities will be developed, and what resources will be needed?
- Organizational model. The final question is “who should play?” – how is the team capable of executing the business model? What kind of people should be on the team, how should it be structured, coordinated, and controlled, what culture is needed, and what kind of leadership is required to achieve the optimal outcome?
These four elements must be determined by meeting the following four criteria:
- Broad. While SMART goals should be specific, a vision should be broad. It should sketch out a general vision of how all the elements fit together into a coherent whole, using rough brushstrokes to highlight the crucial lines, while leaving out all the specific details.
- Optimistic. While SMART goals should be realistic, a vision should be optimistic. It should sketch out a bright, hopeful picture of what can potentially be achieved if people in the organization are willing to work hard and luck is on their side.
- Long-term. While SMART goals should be measurable and time-bound, a vision should be long-term. It is the guiding light beyond the future, giving direction beyond the period for which the organization measures and plans.
- Bold. While SMART goals should be able to be carried out immediately, a vision should be bold. It should challenge people to step out of their comfort zone, think big, innovate and stretch themselves, to do things they never imagined they could achieve.
Key Ideas
- A vision is what you see when you close your eyes. A vision is not a goal you can see on the horizon, but a roughly defined long-term goal that you picture in your mind. A vision must be imagined, either individually or with a group of people.
- A vision must be BOLD to be inspiring. Pragmatic short-term goals must be SMART, but to inspire, a vision must be the opposite, that is BOLD: broad, not specific; optimistic, not realistic; long-term, not measurable and time-bound; and daring, not directly actionable. A BOLD vision doesn’t give all the answers, but it sets the general direction and creates the desire to try to achieve it.
- A vision must have ambition at its core. At the heart of a vision is the aspiration to become more than you are today. You must determine how high you want to set your goals and that becomes the driving force that drives people to act to achieve it.
- A vision must answer where, how and who should play. While ambition is the driver, a vision must also outline three key options to bring the picture into sufficient focus. You need an outline of the market position the organization wants to participate in, the business model it wants to participate with, and the organizational model that shapes the team it wants to participate with. All three are necessary for an effective vision.
- A vision must be shared to be inspiring. Vision statements make great posters, but they are only useful if they are shared and internalized by the people in the organization.
The following contribution is from the opinions of experts who have given their opinion on the importance of having an MBA on the QUORA portal.
Vipin Arora
Former Senior Project Manager at Infosys
Good question. I did my MBA at the age of 34 only because I really wanted to do it, I already had a good job and a good mid-senior position in a Fortune 500 company.
Still, I wanted to learn real business. At that time, I was not completely clear about the end-to-end business process landscape in an organization.
And my decision was absolutely right. I fully and deeply learned various aspects of business through a thorough learning of basic accounting, corporate finance, marketing, organizational behavior, technology, and strategy.
At the end of two wonderful years, I had a clear idea! The rigor of the curriculum and the fact that I had to sit three midterm exams in a single day (we followed the semester system at DOMS IIT Roorkee at that time) taught me valuable skills. It was efficiency and time management to achieve the desired goal.
We all have a similar amount of time available for similar activities, how you use your time, how you quickly go to the root of a problem, analyze alternatives and take the optimal one is a learning that stays with you throughout your life.
Secondly, since I am quite well versed in the basics of everything that goes into a business, no one can fool me with heavy jargons.
That way, I was able to lead a team of quite a few people during my full-time working days in IT Project Management and successfully deliver every time.
I also learned to intuitively take and manage risks, I was not that bold before. The biggest calculated risk I took was retiring at 38 from a well-paying job and spending almost 10 years traveling to different parts of the world and the biggest world itself: my own country, India. I couldn’t have taken that big risk and succeeded if I hadn’t been confident I had within me the ability to take that chance and succeed. I gained that confidence when I did pretty well during my MBA and was able to manage studies at a mature age. What am I doing now? Nothing major, really, but moving on merrily
How did your life change after doing an MBA from Harvard Business School?
Steve Murch
Harvard MBA ’91, Stanford MS Computer Science ’87, Carnegie Mellon Computer Science/Business
My life changed in a variety of ways, some of which were directly related to HBS, and many of which were not:
As with any break, it served as a major milestone — a natural and rare moment to close one chapter and open a new one. In life, we are rarely presented with opportunities that allow us to make a 90- or 180-degree turn toward the things we want and away from the things we don’t want. Graduate school (of any kind, really) is one such opportunity, but you don’t have to attend it to have it.
Since most business schools require more than two years of work experience (and Harvard is no exception), you’ve probably tried your first job ever and found it lacking some dimension, as I did.
Going to graduate school means you have to be done with your old life by the end of August, and most people understand that perfectly, so you don’t feel guilty. A “clean break” is very rare. It allows you to hit the reset button and ask yourself again what you’d really like to do, where you’d like to do it, and sometimes, who you’d like to do it with.
Better yet, you interact with dozens of people from all kinds of industries, governments, nations, nonprofits, and careers
You can try out a whole new profession for a few months if you want. During the summer between my first and second year, I had the opportunity to try out management consulting and found that it didn’t offer the things I wanted in a career at the time.
After HBS, I moved to the West Coast and into the high-tech sector I’d always wanted to work in. I followed the great advice of HBS professor Bill Sahlman, who said that the best first step in starting a company might be to join a fast-growing, mid-sized company in the sector of your choice, to learn at their expense (while contributing, of course), before striking out on your own.
The key insight here: While «within the sector» is obvious, the combination «mid-sized/fast-growing» together wasn’t at all obvious to me. But these help ensure a better chance of getting more responsibility much faster. Those were factors I hadn’t thought about enough and they were critical.
So I abandoned my startup idea that I was going to do in year two and joined a small 8,000-person software company in Redmond, Washington that had just launched a product called Windows 3.0. I turned down a much more lucrative offer initially from the consulting firm. This was a fantastic experience: cool people, fun technologies and platforms, and a lot of learning in an industry I would remain in for several decades.
I worked on great products like Microsoft Access (and the FoxPro acquisition), several CD-ROMs, and led the first generation of Internet gaming efforts. I helped co-author a couple of patents and met some amazing people, including certainly Bill Gates, but not only.
In just 5 years at Microsoft, I was managing a team of over 80 people and leading our entire Internet gaming strategy, most of the concepts later morphing into Xbox Live.
It wasn’t because I was exceptional in any way; It was because Microsoft was growing rapidly, in a rapidly expanding industry, and opportunities were (and still are) plentiful.
I eventually left Microsoft and founded two companies (at least at the time of this writing), the first of which was acquired for $80 million by Expedia Inc.[2], the second of which was acquired just a few months ago[3].
At HBS, I learned to make much better, rational, structured arguments for the things I believed in. I learned that it was not only okay, but worth the risk if I could back up my opinions with logic and facts, and that just as I could learn from others, others could also learn from me from time to time.
I enjoyed forming many new, enriching, lifelong friendships with people from all over the world and from different professions, nonprofits, and governments. Through the Socratic method and spending the entire first year with the same 80 people, the experience taught me that smart, well-intentioned people can and do have very different political perspectives, and despite the stereotype one may have if you haven’t been to HBS, the experience made me more tolerant of differences, not less.
I also learned that consistency matters: you can’t take one position in a discussion about plant closures in an Ethics class (I was phoned in on the first day of freshman year, in a case dealing with a GM plant closure) and then turn around and argue the other position in Finance class – your peers will rightly call you out for being inconsistent.
And I learned that just because someone approaches an issue from a different angle doesn’t make it bad – it’s just that their perspective may be different, shaped by different data and/or attitudes about that data over time.
Often, it’s not that hard to find common ground to build on. I learned that major brands like Harvard are special for a reason, but that they don’t have control over good ideas, and that curiosity, humility, vision, and execution are far more important than a thumbs-up in determining one’s path in life.
MBA Completion Perspective: Letter to My Past Self
The following contribution is from Greg Fisher who is the Larry and Barbara Sharpf Professor of Entrepreneurship at Indiana University, USA.
Greg Fisher is Larry and Barbara Sharpf Professor of Entrepreneurship at Indiana University
Last night I was asked to share some farewell reflections with the Kelley Full-Time MBA Class of 2018. I decided to do the somewhat “cheesy” but often meaningful thing of writing a letter to myself as I finish my MBA.
Written on April 16, 2018 to Greg on November 25, 2004:
Dear Greg (in 2004):
So this MBA is over. Can you believe it? On the one hand, it seemed like it would never end, and on the other, it just flew by. What a paradoxical experience. So now that you’re done, what’s next?
When you set out to do an MBA, you thought it would provide you with answers to a lot of questions, and in a sense, it did. But ultimately, it has allowed you to ask better questions.
The ability to ask good questions is one of the most valuable skills you can develop, and right now, it’s critical not to rest on your laurels but to continue developing it.
You know more about business and the world than ever before, but that knowledge and insight will dissipate very quickly if you stop asking good questions. Keep asking yourself and others questions and see if your questions provide you with deeper insight and better perspective.
«Ask Better Questions»
After doing an MBA, you’ve sparked interests; you’ve discovered things that make you curious. Now that you’ve finished the MBA, it’s time to scratch that itch.
Don’t be afraid to keep trying new things: start a side job, teach a class, visit new places, create a blog, take on a new hobby, take on unique challenges at work.
The freedom your MBA gives you gives you time and resources you didn’t have before. Make sure you use them as a means to keep growing, keep learning, and keep scratching that itchy itch.
«scratch that itch»
The MBA was very demanding at times. And your job will be at others, too. So it’s important to make time for those who care about you; it’s important to invest in your relationships.
Create an opportunity to thank those who have supported you during your MBA, and make plans now to spend time with friends and family in the years to come.
Completing an MBA is an accomplishment; make sure you share your success with others. When you wonder if you should pick up the phone and call your dad, your brother, your friend, your sister, or your grandma, just do it. A career in business (or any other career after an MBA) is often very demanding, but never let it become something that absorbs you completely; make time for the important people in your life. «Make time for those who care about you»
Whatever you do, don’t let success go to your head. Stay humble and stay hungry. Sometimes it’s tempting to think you’ve done well (because you have), but never let that be an excuse to become arrogant or lazy. If this happens, all the effort you’ve put into earning an MBA will be for naught.
Arrogance and laziness are two sure ways to lose respect; they’re two sure ways to derail your success. If you stay humble and stay hungry, good things will happen – maybe not right away, but over time. In the end, it’s «the humble» and «the hungry» that thrive.
«Stay humble and stay hungry»
Such exciting times are ahead… Get out there and make them happen!
Your future self,
Greg (in 2018)
6 Major Benefits of Pursuing an MBA That Are Key to Career Success
The following contribution is from the Prestige University of India portal
An MBA is one of the most sought-after graduate degree programs by students nationally and internationally.
Whether you work in finance, technology, healthcare, operations, business analytics, marketing, or manufacturing, an MBA degree opens up several opportunities that lead to increased responsibility, better communication, decision-making, leadership skills, career advancement, and greater rewards. Pursuing an MBA is an investment in your future.
If you are interested in taking on a leadership role and leveraging higher-earning opportunities to rise through the corporate ranks, enrolling in an MBA degree is a promising path.
The benefits of an MBA program largely depend on the skills required to make high-level corporate strategic decisions and inspire others to do their best.
The skills that are included in an MBA program include understanding management principles and developing excellent management capabilities that will prepare you for any lucrative job you may encounter as you advance in your career.
An MBA from a top-ranked business school helps you quickly move from a mid-level position to a senior management position, where you are presented with various opportunities to make strategic decisions.
An MBA is preferred, though not required, for most senior job descriptions across all industries.
Once you earn an MBA degree, you begin to embrace the challenges that come your way and start to appreciate and welcome potential changes.
You can broaden your specialized business skills, allowing you to be better prepared for your role as a manager in the global business world. An MBA degree helps you become agile, future-oriented, and forward-thinking and prepares you for broader business developments such as globalization and economic or financial crises.
An MBA requires commitment, perseverance, time, and dedication to qualify
Once you gain knowledge and begin to put it into practice, it creates a sense of accomplishment, which boosts your confidence as you navigate this competitive professional world.
In unprecedented times like these, you will be confident and increase your professional credibility to overcome any professional challenge by applying the knowledge and skills you have gained through an MBA.
This reveals to potential employers that you have a rich and varied knowledge of the business world. In other words, it demonstrates your understanding of the challenges that plague modern organizations and your ability to mitigate risks by making the most efficient decisions for the organization.
With your career credibility also comes increased confidence that you possess the necessary skills employers are looking for and the ability to market yourself accordingly.
Gaining additional knowledge and self-awareness allows you to confidently take on new challenges and responsibilities in classwork and outside the professional sphere. These opportunities will allow you to gain more experience and knowledge in a self-reinforcing cycle.
What benefits does an MBA offer?
If you are considering climbing the corporate ladder and want to learn and hone your skill set, it is the right time to join an MBA program. However, if you are still wondering if an MBA makes a difference, this blog will help you decipher the top 6 reasons and career benefits associated with pursuing an MBA that will help you make the much-awaited decision on whether to pursue an MBA or not.
- It opens up new job opportunities for you
Once you earn your MBA, your number of jobs increases significantly. Human resource management, accounting, statistics, finance, technology, and economics are the only mandatory fields in an MBA program.
All of these areas qualify an MBA degree holder to work in various industries. The advantages of an MBA degree involve applying for higher-level positions and expanding your career options.
To climb the ladder and successfully get ahead in this performance-oriented professional world, a specific MBA degree will be of great help.
You will explore the latest business trends and practices, apply the most naive management tools and techniques, and better position yourself to improve the business, teams, and organization you are associated with.
Unfortunately, global companies, including well-known ones like Google, Pepsi, Microsoft, Amazon, Facebook, and Netflix, often hire business school students. Sadly, this trend has not changed dramatically in the pandemic-hit economy.
- It leads to new career paths
Changing course and opting for a new career path can sometimes feel overwhelming, especially if you have worked in a similar industry for years.
However, acquiring new skills could be the catalyst that can ignite and kick-start your career journey from one career to another.
Even if your background is not relevant to the positions you are considering, the benefits of pursuing an MBA extend beyond gaining the education necessary to help you become a more qualified candidate in today’s fast-paced world.
Furthermore, by adding to the number of graduate degrees you already possess, an MBA degree increases the value of your resume, and you can reap the multiple benefits of your hard work and commitment once you earn your degree.
- It improves your professional skills
One of the significant advantages of pursuing an MBA is that it confers better theoretical and practical knowledge of business operations.
And a critical component of business success today is having a complement of «soft skills,» such as communication, leadership, business analysis, and teamwork.
So whether you want a promotion or are considering a new venture, having these skills could be that fine line of difference between success and failure.
Modern MBA programs increasingly emphasize nurturing a student’s personality, soft skills, and communication
allowing them to become standout advisors ready to take on the world with a fresh perspective on life and the business world.
These qualities have emerged as the core skills in recent years, key to managing increasingly complex business and work realities.
Companies increasingly prefer MBA graduates who are better positioned to work in a strategic thinking environment. These candidates are more likely to fill senior management positions due to their better understanding of the business environment and ability to operate efficiently in a global market.
- It Offers Greater Job Security
Today’s job market is more volatile than ever, leaving many uneasy and afraid of being left behind. A more marketable skill set and greater job stability are just two of the many advantages of an MBA, which can increase your peace of mind.
You’ll be a valuable part of any team thanks to the skills you gain as part of an MBA program. Your business credentials will follow you even if you leave your job, increasing the likelihood that you’ll return to work more quickly.
Earning an MBA can be a crucial step in an advanced career path that leads to high-level opportunities. This earning potential comes with those positions of authority and leadership and a higher level of security in those highly coveted jobs.
Additionally, an MBA from a prestigious university also broadens your business acumen and helps you understand the complexities of running business domestically and internationally. Choosing an MBA program that attracts students from around the world increases variety in the classroom and makes for more interesting conversations.
- Expand your professional network
A strong professional network is said to be one of the most important and yet most underrated assets you can have in business.
Attending a business school helps you develop a strong professional network, which gives you access to many job opportunities. Plus, it can come in handy later if you decide to set up your own business.
You learn invaluable skills that are essential to succeed in your chosen career with the right MBA program and you get the chance to collaborate and build your business circle with a diverse mix of people and establish a long-term network.
Unlike specialized courses that focus on a niche, the advantages of an MBA are multifaceted and centered on a diversified curriculum.
Individuals committed to a specific vocation or industry can benefit from specialized MBA programs
Such as E-Business, Food and Agribusiness Management, Data Analytics, and Supply Chain and Logistics Management, which all have merit and should not be dismissed.
Even in a general MBA program, you learn several skills that apply to virtually any industry or job function, which can be crucial if you’re thinking about changing careers. Studying an MBA at a prestigious business school allows you to network with smart, talented, and experienced people who can hold high-level strategic positions at major companies or become great business leaders one day.
The credibility of your career will increase as you stand out from the rest. It will increase even more as you become confident in creatively and efficiently managing risks.
In Prestige University’s MBA program, you’ll collaborate with like-minded students and have access to plenty of networking opportunities to meet other professionals. You’ll also foster meaningful connections with various people who can foster a deeper understanding of the business world.
- It makes you a respected member of the business community
An MBA commands respect from your peers and others in your professional community. While the specialization you decide to pursue ultimately carries a lot of weight, your enhanced skills will ultimately set you apart.
Whether you’re launching a new product, reorganizing a department, or starting your own business, do so with confidence. Executive recruiters look for people who can lead companies and departments through strategic challenges while providing vision and clarity.
Even if you’re successful in your current career, you can still benefit from completing an MBA program. An MBA opens up a wealth of new opportunities, allowing you to seek a promotion, change careers, or fulfill your entrepreneurial ambitions.
After you earn your MBA, you connect with a network of alumni with shared experiences. Then, after you graduate and advance in your career, this group of alumni can help you discover new opportunities.
Prestige University gives you a solid foundation in the business world
It allows you to learn how to make business decisions, maximise output and create effective strategies for your potential employer.
In this 2-year Master of Management course, you will gain qualifications in management with a scientific and practical orientation and learn the different analytical tools and techniques to tackle complex business problems. Furthermore, it allows you to focus on your choice of specialisation, from data analytics and business intelligence, e-commerce, logistics and supply chain to food and agribusiness and sustainability management.
Prestige University offers an ideal opportunity for students seeking an MBA
As one of the most sought-after universities in Central India, Prestige has consistently produced graduates with the best skills that employers are looking for.
Designed for both graduates and working professionals, it allows you to engage in interactive networking sessions with your fellow programme members and industry stalwarts for a more immersive learning experience. Furthermore, the University offers best-in-class content from leading faculty and professionals in the form of videos, case studies, and projects along with the flexibility to choose a single track or a combination of specializations that enable you to gain exposure in interrelated business fields.
If that doesn’t sound compelling enough for you to consider enrolling in the program, Prestige University offers:
– Rigorous and innovative curriculum from leading universities in India and abroad
– Networking opportunities with over 2000 alumni and leading industry experts
– Study material helps professionals refine their discernment to make confident and powerful decisions in situations of uncertainty and risk. International Learning Environment
– Focus on interdisciplinary and solution-oriented learning approaches
– Enhanced experience through industry visits, site visits, and community engagement
– Strong corporate interface through internships, mentorships, conferences, and more
– Industry-oriented curriculum
– Wide range of specialized electives