While the Masters degree program equips students with specialized
knowledge in fields such as history or economics, the MBA
course prepares them for the real business world through
practical business case studies. Therefore, the skills learned
in MBA courses are more transferable than those of other
courses. They also have energy, vigor and a depth of understanding
of general management principles. Even if a lawyer joins
an MBA course to become a management consultant, business
education would probably provide him with the practical
skills to accompany the `softer' skills learned in the realm
of law.
In today's competitive business world, the demanding nature
of the MBA course can prepare one for any high-pressure,
self-thinking type of career. "But don't take all potentially
acquirable skills for granted—many business schools
don't teach the essential skills necessary to survive in
today's business arena," says an MBA recruiter. "Many
schools seem to neglect leadership development and organizational
behavior at the MBA level, despite these subjects being
central to executive education courses."
he further
adds. Are business schools that offer the MBA program out
of sync with the needs of business in the 21st Century?
Are they too theoretical and removed from the day-to-day
challenges faced by managers and entrepreneurs? Have they
failed to keep pace with global and technological changes?
These questions are taking on greater importance as the
business world becomes ever more globalized and competitive.
Joel Podolny, Dean of Yale's School of Management suggests,
"There's lots of experimentation, and we have to adopt
new models to meet 21st Century challenges." According
to him, it's time to rethink core concepts of business or
management education. |
