Business Administration is critical for the success of any business. From small self owned business to multibillion corporation every business directly depends on how it is administrated by it mangers. Master in business administration was introduced in the late 90s in United States of America. As the name suggests Master in business administration program includes courses and subjects covering the different aspects of the business, preparing students to handle their future responsibilities effectively. That’s the reason that MBA degree attracted the companies all around the world, feeling that an MBA student has all required skills to effectively manage their company.
Today we are in 2013. Today many people feel that MBA has become obsolete and there are fewer chances to get any lucrative job after doing MBA. Here we will analyze that is the MBA really got Obsolete?
1. Worse Employment conditions made the MBA degree unattractive
This is the reality that today numbers of jobs throughout the world have been depreciated. It is due to the recession in the global economy from past few years. Many companies around the world have already spelled their employees in order to minimize their cost and to remain in profits. Not only MBAs but students of all the programs are facing difficulties in getting the jobs of the level of their studies. Therefore it is absolutely wrong to assume that MBA has got obsolete.
2. Tough Competition
One reason many MBAs are jobless is because of the tough competition they are facing during the recruitment tests. Because many people believe that MBA degree will give them lucrative job therefore they are running after this degree. Many colleges and universities have started to offer MBA program. Moreover now you can also get MBA degree by getting registered on any Online MBA program. In many countries the requirement for MBA admission is any bachelor degree which is the reason that students from all disciplines tend to get MBA degree. On the other hand you have to get diplomas and certification in the relevant filed if you want to get admission in Medical, engineering or any other program.
3. It’s Not the degree, it’s your talent that will give you the Lucrative job
The higher demand of MBAs resulted in the rise of people getting admission in MBA programs. This was an opportunity for many educational institutes to offer MBA degree. This resulted in higher number of MBAs available in the job market. However one think went wrong. In the process of rising Supply of MBAs, the quality got depreciated.
I am not talking about those institutes that are offering standard MBA courses with all the required opportunities for students to get deep understanding of the art of business administration. Instead I am talking about those institutions which are producing MBAs with high CGPAs and no talent. After all it’s your talent that you acquired during MBA program which will give you lucrative jobs and incentives.
Remember MBA will Never become Obsolete
Above arguments clearly presents the reasons that why MBA degree looks bit less attractive to what it was few years earlier. However it is the fact that MBA degree offers all the essential ingredients for developing business leaders. However keeping in view the facts mentioned above, today it has become important to choose right institute for doing MBA and even greater commitment & hard work to acquire required skills and understanding of dynamics of business. If you do all these things then I am sure that your luck will support you to get highly lucrative job on the basis of your MBA.