PURSUING an MBA can consume a significant amount of time, money, and effort – so is the qualification really all it’s made out to be? A good quality MBA comes with so many advantages – especially when it’s from a well-regarded business school, that it can be difficult to argue otherwise.
It’s a programme that has a broad appeal and attracts people from all industries and backgrounds – its value is certainly not limited strictly to the business world. MBA students are also engineers, tech professionals, and those in the creative industry; they are from the public, private, and voluntary sectors. As well as intakes from the world of finance and consulting – the MBA community is vast, testimony to its worth as a qualification.
Dr Sharmila Sethu, senior lecturer at the International University of Malaya-Wales (IUMW) Business School explains that an MBA provides a deeper understanding of how the business world works and allows you to develop advanced decision-making skills; but it can also help you focus on a new direction – a move being considered by many during the recovery phase of Covid-19, where agility and versatility have become more important than ever.
One of the first considerations for many is the cost of studying an MBA. Opt for a full-time course and you may have to sacrifice a year’s worth of salary – but there are many alternatives available to professionals who understandably wouldn’t want to, or can’t afford to go down that route. A part-time or online MBA usually appeals to older professionals who will have to juggle work and study for a while, but stand to reap the benefits in the long run. An online MBA is often more affordable and comes with the flexibility of studying from anywhere, making it easier to pursue alongside other commitments.
MBAs are also excellent for those looking to advance their careers or even switch careers altogether. One thing recent months has taught us is the need to be ready for inevitable changes in the business environment and discover new ways to adapt fast. Students are able to use their management education to pursue opportunities in new industries or job functions they haven’t previously worked in. It’s a versatile and diverse programme that can prepare you with the skills you need for a switch up of careers. Opt for an MBA that comes with professional certification from the Chartered Management Institute, such as the IUMW Online MBA, and you could even earn Chartered Manager status – and in such uncertain times, organisations are looking to ensure that the managers they hire are professionally qualified to the highest level.
But an MBA is not just for those looking to climb the corporate ladder – many graduates become successful entrepreneurs following their studies. Anyone can start a business these days, but few can make it a long-term success – and that’s where the fine details of the course comes in. You’ll want to know the most effective marketing strategy for your product or service, how to negotiate a contract with suppliers, and how to avoid the traps that many start-ups fall victim to.
With the wealth of advantages that come with an MBA, it can prove to be a game-changer for those looking to make waves in today’s competitive business environment. “It pushes you out of your comfort zone,” says Dr Sharmila. “At the IUMW Business School, you get to explore the latest international business trends, apply the newest management tools and techniques, and challenge yourself to improve your team, your business, and your networking and collaboration opportunities.”
With an upcoming intake this September, visit iumw.edu.my or call/ WhatsApp +6 011-366 33644 to find out where an IUMW MBA could lead you.