Essay about Importance of MBA Degree

Management: Yesterday, Today, Tomorrow

Pursuing an MBA degree equips one with the knowledge, skills, and abilities that a good and effective manager should possess. Moreover, better resources and great teachers ensure that students are prepared for the various tasks that are a part of managing an organization.

As Aristotle once said, “Knowing yourself is the beginning of all wisdom”. This project is significant as it is a form of learning about other people’s ideas and views about what effective management requires, but more importantly because it drove me to self-reflection. It helped refresh all the reasons which pushed me to pursue this degree, and all that I need to possess to be a successful manager. It has also enabled me to reach out to people both, within and outside this field and learn their perspectives about MBA as a course and what skills, knowledge, and attitude one needs to develop in today’s fast-paced world to do well as a manager. The various responses that I received have given me a bird’s eye view of the past, present and future. That is to say, it gave me an opportunity to look back at my previous and present notions of management and use those to align the scope of my future concisely. Having an insight into other people’s opinions has broadened my own thoughts. After all, management lessons can come from anywhere and everywhere. I was able to see various options, opportunities and potential challenges that I had previously overlooked and now can take these into account, and prepare for them for future endeavors. Furthermore, writing this assignment brought on the realization that there is more to an MBA than I had thought and a myriad of new and diverse skills that I can learn. Non-professionals also talked about missed opportunities or voiced their regrets about the lack of certain areas of knowledge, and other skills crucial to the work scene today. This brought anew the realization of how important various skills like networking, communication, planning, etc. are in the professional world, and that I need to make utmost utilization of the resources available to me so as to be both a capable person and an exemplary manager.

In other words, this assignment has been extremely beneficial as it helped me streamline my thought about my needs and future goals. Adding to that, it has helped me think about unexplored opportunities and focus on acquiring skills and knowledge, indispensable in the workplace, on a macroscopic level, and in life.

In my opinion, one becomes an effective manager mostly through experience. However, in the beginning, it’s a person’s knowledge, skills and right attitude that gives him or her an edge over the others. In order to be an effective manager, one must have good domain knowledge so that he is able to apply the theory and concepts in the real world. Also, he must be aware of his surroundings and have thorough knowledge about the industry, the company he is working in, and the competition faced by the company. This knowledge will help him take sound and informed decisions and manage and guide his team better.

Apart from subject expertise, there are several soft skills that are needed for the effective and harmonious management of people. These include skills like leadership skills, effective communication, teamwork, problem-solving and decision-making skills, time management, and most importantly, the ability to see the bigger picture.

People skills like problem-solving ability, conflict resolution, and willingness to work in the team help the manager come out as approachable and understanding. These skills make him likable among his team members and they feel extremely comfortable sharing their ideas and even problems with him. This results in a healthy relationship between the team thereby resulting in a positive effect on performance. Good communication and leadership skills help the manager to be clear and assertive and make him the ideal person to represent the team before the senior leadership.

Managing an organization and its people efficiently requires a wholesome attitude. A manager needs to be dedicated to his/her work, the company, and his team, which would lead to success and reciprocating dedication from other employees. A manager should also be receptive to others’ opinions and feedback, but at the same time, must have a healthy confidence in his instincts and decisions. Other qualities like punctuality and good work ethics should also be part of a manager’s working style so as to ensure exemplary performance and efficient completion of goals.

Soliciting responses from others (a write-up sent to the respondents has been attached in Appendix 1) and understanding their views has helped me develop a broader perspective. It enabled me to open up to various options, opportunities and potential challenges that I had previously overlooked and now can take into account as I prepare to become an excellent manager.

Based on my discussions with friends, family members, and my managers from previous job, I realized that there were certain similarities in terms of their understanding of the knowledge requirements of a manager. Most respondents felt that a good manger must have knowledge of their subjects and must have the ability to apply theory to the practical situations. Also, they must have a complete awareness of their workplace, the industry their company operates in, and some knowledge about the world around them. One of the respondents mentioned that a sales manager should have knowledge of the principles of marketing which he can learn while pursuing an MBA. But going forward, as he starts working, he must also be fully aware of his company’s values, product lines, competitors, etc. He must also have knowledge of his people, their abilities, and backgrounds which will enable him to delegate in a manner that can bring out the best in every member of his team. This insight resonated with me as this was something that I had overlooked.

Some people also mentioned that in today’s times, as the world is moving towards the digital age, knowledge of social media, technology and its effect on workplace and employees is also imperative. This can help the manager to adapt to changes well in advance and transform the risks into opportunities.

In today's work scenario a manager is expected to not only be a jack of all trades but also a master in them all. The responses gathered from a number of people point to the same, as they denoted a variety of skills that a good manager should possess.

Most people highlighted the need for good communication and networking skills along with the ability to plan and make informed decisions in a manager. This would help him interact with his team and get adequate results, and also ensure the timely completion of goals with fewer difficulties. This similarity in the responses supported my focus on honing these skills in me.

Also, people belonging to the management field pointed out a specific skill that others, including me, hadn't pondered over. For instance, one manager talked about the multi-vertical skills required for being a good manager. This suggests that a manager’s knowledge should be such, that he can switch between verticals while retaining his efficiency and skills across multiple domains. He substantiated this claim but pointing out how he was previously a manager in the banking sphere but later went on to work in a consumer goods company while retaining his position in the managerial hierarchy. This was an important lesson to me as I have realized that though specialization is important, there is also a growing need to master skills in multiple domains which would increase my future opportunities and facilitate career growth.

Save your time!
We can take care of your essay

• Proper editing and formatting
• Free revision, title page, and bibliography
• Flexible prices and money-back guarantee

Place Order

‌Non-professionals or non-working respondents had more general ideas like communication and networking skills, teamwork, etc. that they wished were a part of their own formal education. They thought highly of abilities like strategic and out-of-the-box thinking. They believed that creative brainstorming and developing targeted strategies are sacrosanct to effective management.

‌Another impressive idea conveyed in a few responses, one yet unexplored by me, was the need to develop entrepreneurial abilities, especially on the account of the ever-growing trends of start-ups. A manager of a small start-up called weekend pointed out that more and more people are looking to start, and manage their own organizations. This made me consider how this MBA degree can help me develop the technical skills and the theoretical base for setting up an independent business if need be.

When asked about what constitutes the right attitude for the workplace, a pattern was observed. Majority of the those working in a corporate believed that ethics, alignment with the company’s values, and loyalty towards the company are of utmost importance. Some felt that this attitude cannot be taught through formal education but comes about as one starts working.

Respondents who were still pursuing their MBA and the non – working respondents felt that positive attitudes like sincerity, confidence, resilience, punctuality, determination, empathy and care for people are what a good manager must possess. This will help him/ her develop a never give up attitude, and a stronger and bolder personality and yet come across as caring, amicable, and approachable. They also felt that pursuing an MBA becomes instrumental in developing such an attitude, as, throughout the course, people are exposed to different situations, challenges, and tasks and therefore develop the right attitude to deal with them in the most effective way.

Based on my understanding of the importance of an MBA and the responses received from people, as I proceed in the two years of my MBA, I wish to tailor my experience in a way that is most beneficial to me.

The first thing that I want to focus on is my academics. Apart from FMCGs, I am also targeting consulting firms which give special attention to grades. SPJIMR being a premier B school has some of the brightest minds therefore acing my grades means being at my best throughout. Other than just grades, studying will give me clarity of concepts and knowledge that is imperative to do well in the workplace, given the increasingly cross-functional nature of the jobs today. I want to therefore make the most of my time here by gaining as much knowledge as I can through lectures, class participation, discussions, cases, etc.

Networking is another thing that I want to focus on at SPJIMR, be it with my classmates, seniors, faculty, alumni, or externally. MBA provides you ample opportunities for networking right from day one of college. These networking opportunities manifest through student clubs, ADMAP committees, Treks, team-building activities (during PG Lab), internships, Alumni chats, the GFT program, etc.

Most importantly I want to learn and develop skills that will not only be useful in the workplace but in life, in general. The two years of an MBA teach you various skills like working under pressure and time management since you have to manage your academics and assignments with competitions, committee work, clubs, sports, etc. It teaches you to work in a team since most of the activities are done in groups. You learn to value each other’s perspectives and manage conflicts and not forget to build friendships for life. Courses like ADMAP teach you the practical application of what you have learned in the classroom. Courses like Abyudaya give you a platform to make a small difference in the lives of young kids who are talented but are not lucky as we are financially. Projects and assignments give you an opportunity to delve deep into the subject and apply the learnings and theoretical concepts in practical problems or business situations. These help to bridge the gap between the academic and practical worlds. Other than these, MBA teaches you skills like effective communication, better delegation, and better planning, and also helps you build confidence. I wish to develop all these skills as I move forward in this two-year journey and also explore and experiment along the way.

APPENDIX – 1 (write - up sent to solicit responses)

As a part of my course called Management: Yesterday, Today, Tomorrow, I’m in the process of understanding the knowledge, skills, and attitudes essential for becoming an effective manager and how an MBA can help achieve the same. I would, therefore, like to discuss with you my reasons for doing an MBA and would also like to know your views on why MBA as a course is important in today’s world.

I am very passionate about marketing and therefore wish to start my career with an FMCG in a sales and Marketing role. However, most brands like HUL, P&G, Marico, and RB recruit students only post-completion of an MBA degree (preferably with a major in marketing)

Doing an MBA will not only give me knowledge about marketing subjects but also help me in my overall growth and learning. I will get an opportunity to learn through creative classroom discussions, with my peers (owing to the diversity of the batch), through case studies, competitions, internships, etc. In my opinion, such learnings are extremely crucial for anyone who wishes to make a career in the corporate world as it gives you exposure, and clarity of thought and prepares you for the upcoming adventures both intellectually and mentally.

Also, doing an MBA gives you the added advantage of working with some of the best companies and starting with good pay, right in the early years of your career which is like a cherry on the top.

To have more clarity on the subject I would like to solicit your opinion on the following. Request you to answer these questions in as detail as possible.

1. What, in your opinion, are the knowledge, skills, and attitudes required to be an effective manager?
2. Do you think doing an MBA is important for being a good manager? If yes, why?
3. Looking back, what are a few things (if any) that you hope you could have learned from your days of formal education in school, college, and beyond?
4. As you anticipate the future workplace, what are the critical skills to be developed today?