First, a few words about terms. MBA (master of business administration or master of business administration) is a master's degree in economics and management. Accordingly, an MBA education is the training that allows one to obtain such a degree.
There are many different things being said about an MBA education. An IBA can raise salaries many times over, makes it possible to get a position of a top manager, freely choose a job in the labor market... Is this true? Let's figure it out.
Where does the MBA come from?
MBA programs originally appeared in the United States around the beginning of the 20th century. The purpose of such training was to prepare senior managers for the needs of the business. The MBA very quickly became the standard for top management training and a brand in the American labor market. This was partly due to the high quality of education, partly due to high requirements for students and a rigid selection system. It is difficult to enter the MBA in the USA and not everyone will be taken to study despite the high cost of education.
MBA is hands-on learning
The highlight of an MBA business education is practical training, working with real cases and solving problems faced by real companies. Accordingly, teachers are also practitioners, consultants or current managers and directors of companies.
It is for this reason that they do not teach in universities when they receive their first higher education. There are practically no teachers who are or have been in business.
In addition to case studies, the learning process includes business games, trainings, seminars, development of own projects and their defense, as well as constant teamwork. Of course, the composition of classes varies depending on the format of training (full-time, part-time, distance).
MBA, second higher education, magistracy - what to choose?
Often people ask themselves: what to choose, MBA, second higher education or master's degree?". The practical approach is a strong difference between the MBA and the second higher and master's programs. MBA students must have work experience and business management skills. Master's and second higher education, on the contrary, are focused on the theoretical training of students.
The second argument in favor MBA - good teaching staff. In general, I would like to say that it is better to choose business training not by the prestige of a school or university, but by the level of teachers. The stronger they are, the stronger the curriculum. The prestige of a diploma is a second matter.
What is MBA training
There are many different MBA programs and here are the main types:
- EMBA (Executive MBA), focused only on top managers.
- Full-time MBA - full-time, full-time education. It is not particularly popular, because. With such training, it is impossible to combine work and study.
- Part-time MBA is part-time education that makes it easy to combine work and study. Classes can take place in the evening, on weekends (for example, 2 times a week in the evenings and one full day off or two full days off) or have a modular system (for example, 4 full days per month).
- Distance learning MBA is a format that involves distance learning. This format is now gaining popularity, although it has its pros and cons.
- Mini-MBA is not an abbreviated MBA, but simply a management training course, usually designed for 6 months. Now such training is very popular, because. takes a little time, costs significantly less and has a good teaching staff.
MBA program specializations
Curricula can be of a general and sectoral plan. In both options, general managers are being trained, but in the second case, a little more material is given on a certain profile.
- MBA Start (General Management), which is a kind of basic education for a manager of any level.
- MBA professional. Highly specialized (marketing, personnel management, sales...) or industry-specific programs (logistics, HoReCa, retail, manufacturing, construction, and much more).
Why you need an MBA
There are several benefits of an MBA education:
- Practical skills and knowledge. MBA is cases from real business, communication with directors of corporations, modern presentation of material, home practical assignments. All this makes the MBA a good investment in yourself and your career.
- Exchange of experience with colleagues for study. Perhaps this is even the most important moment of such a business education.
- Connections and acquaintances. In the learning process, you can meet interesting and active people (both students and teachers).
- Expanding horizons. The MBA covers all aspects of business management: leadership, marketing, sales, HR, project management and more. The learning process is focused not on the narrow sharpening of managers, but on the training of specialists who can think and make decisions in various situations.
- An MBA can make your job search easier. For example, now hh.ru has 98 vacancies in Moscow, which say that the MBA is a significant plus for the candidate.
The cost of MBA programs in Russia ranges from about 30 thousand rubles (for distance learning mini-MBA) to 1.5 million rubles and more (for a full-fledged 2-year MBA program). However, such investments in oneself fully pay for themselves, because. raise managers to a new level of development.
Will there be an increase in income after completing an MBA?
An MBA education not only increases income, but also improves the qualifications of a manager and helps him move up the career ladder. Such an increase will inevitably increase earnings. Experts call earnings growth figures in the region of 30-70%.
Experience is more important than a degree
Despite all the advantages of an MBA, work experience is always more important. MBA is not a panacea for all troubles and it will not solve all issues. Any employer always first evaluates the experience, achievements and level of companies in which the candidate worked, and only then looks at education and diplomas.
Figuratively speaking, the MBA is a handy and modern rod with which you can catch a lot of fish. However, you will have to catch this fish yourself.
Oh, these three mysterious capital letters, which at least once beckoned any of us! Why do I need this MBA, professionals ask. What will they teach me there? And what will I get with an MBA in the future? Do Employers Value an MBA Degree? Will it become a pass to the circle of the business elite? Where to study - in Russia or abroad? And how to choose a school in terms of price / quality?
First, let me tell you why you might need it. And then - where to go. Looking ahead, one thing is for sure: the only reason you don't need an MBA is because you already have one!
What is an MVA?
MBA (MBA) - Master of Business Administration - is a qualifying master's degree in management (management), implying the ability to perform the work of a middle and senior manager.
EMBA - Executive MBA - programs aimed at senior executives, based on significant work experience.
OK, where do I go?
And you for an MBA if you have a higher education and work experience of more than 3 years. And for the Executive MBA, if you are already over 35-38 years old and you have at least 5-10 years of managerial experience. EMBAs are mainly received by business owners. The boundaries are not rigid, you may well try to charm the admissions office of a particular educational institution, as, for example, my husband did, at the age of 28, when he entered London Business School on an Executive MBA.
Who needs an MBA?
– For company owners who are looking for a new impetus for their brainchild (a new region, a new line of business, networking, etc.).
– Top managers who are interested in improving the efficiency of the companies they manage, as well as in their own professional and personal development.
- Middle managers who are ready to rise to leadership positions.
– Financial consultants and bankers, for whom an MBA is often a condition for promotion (mainly relevant for foreign companies).
- People with non-economic education. An MBA is a way to move into business or supplement professional knowledge with business skills.
– Specialists who have received an education that is already outdated and has lost its relevance in the current business environment.
How to choose a business school for an MBA?
Let's talk about the MBA programs of Western business schools right away. Indeed, why Russia? After all, initially the MBA is an American product, I will not argue. But here you need to decide where you plan to work. Getting a Western MBA and staying to work in Russia in a Russian company is some kind of cunning plan to deceive everyone, including yourself.
There are high-quality MBA/EMBA programs in Russia, the main confirmation of this is the international accreditation of AMBA International. It accredits 11 Russian business schools. There is also European accreditation EFMD and American AACSB.
Business schools that have passed through the accreditation sieve of at least one of the Big Three associations consider themselves the elite of business education. Any of the three "crowns" guarantees that international experts have carefully checked the quality of education in this school. It is equally important that Western accreditation means recognition of the MBA diploma of a Russian business school abroad.
The next criterion for choosing a business school is the national MBA rating. An important factor is also the age of the program, namely the MBA program, and not the parent institution. MSU and SUM can exist for as long as you like, just look at the age of the MBA program.
Who are the graduates?
I recommend that you familiarize yourself with the rating of the Association of Managers "Top 1000 Russian Managers". For example, according to data for 2016, 31 participants in this rating were graduates of the IBDA RANKh and GS programs. Their level confirms that it is not for nothing that the programs of this business school are number one in the popularity index of the people's rating.
Who are the teachers?
Good MBA programs have a unique team of teachers: star lecturers, consultants and practitioners, the best foreign teachers, historians, sociologists, psychologists, theater directors, experts in rhetoric, negotiation and etiquette. Be sure to look who will be your teachers, from whom you would be interested to learn and learn from experience. Usually business schools are proud of them and are happy to show off.
How much does an MBA cost in Russia?
Let's compare the programs of the leading Russian business schools in terms of tuition fees.
| the name of the institution |
MBA cost, autumn, 2016 |
EMBA cost, autumn, 2016 |
|---|---|---|
| Institute of Business and Business Administration (IBDA) RANH and GS | 74 7000 rubles + 1000 euros | 1,595,000 rubles |
| Skolkovo | 60,000 euros | 90,000 euros |
| High School of Economics | 790 000 rubles | 680 000 rubles |
| MGIMO | 720 000 rubles | 980 000 rubles |
| Moscow State University School of Business | 650,000 rubles | 1,100,000 rubles |
| SUM | 600 000 rubles | |
| MIRBIS | 560,000 rubles | 920 000 rubles |
| Graduate School of Management, St. Petersburg State University | – | 1,500,000 rubles |
| University "Synergy" | 210 000 rubles | 630,000 rubles |
| International Business School of the Financial University | 594 000 rubles | 980 000 rubles |
| Plekhanov School of Business Integral | 520 000 rubles | – |
How to get an MBA for free?
Too expensive? The opportunity to get an MBA for free also exists. Many companies are ready to fully or partially pay for their employee's training. Of course, not for beautiful eyes, but most often for the obligation to work in the same company for another 3-5 years after receiving the MBA.
How to apply for an MBA program?
Entry requirements for business schools vary. Most often, you will find a very detailed questionnaire. Candidates are carefully selected, because graduates will later be the face of the school. You may need letters of recommendation. They may be asked to write an essay on the topic: “Why do you need an MBA?” or "Strategy of my personal development." Many schools conduct an exam in the format of a case study (analysis of a specific situation, case). Some require passing TOEFL (Test of English as a Foreign Language) and GMAT (Graduate Management Admission Test), which assess the general level of knowledge of the applicant and the degree of English proficiency.
The final stage of admission is an interview or interview. In a casual conversation, you must convince the examiner that you are the one who deserves to be trained, and justify why you need it. You need to be prepared for questions from different directions: about your strengths and weaknesses, about the reason for choosing this particular business school, about plans for the future, etc. They also look at the overall adequacy of the candidate. Often they try to choose a homogeneous group by age, for example, 29-32 years old, because after 2 years of study the group will become practically a family.
When to enter and in what mode is it better to study?
MBA programs are recruited mainly in the fall, but the most popular business schools recruit twice a year - in the fall and in the spring.
The training system is evening, modular and weekend. When choosing a program, especially an evening uniform, you should definitely take into account the location of the business school. And then you will have to stand idle for half of the classes in traffic jams or on the overhead to get to the desired airport. For example, the RANH and GS, located in the south-west of Moscow, has a separate building in the very center of the capital directly for top-level programs (the IBDA Executive MBA program is held there), so that students can easily get to school and study comfortably.
In the weekend format, classes are usually held once a month on Friday, Saturday and Sunday. This makes it possible to fully work without being distracted by studies, as well as attract people from the regions.
MBA programs last almost two years. In many schools, the program also includes a foreign module, which involves a one-week internship at leading foreign business schools, such as Judge at Cambridge University or the Rotterdam Business School. The purpose of this module is to acquaint students with the latest foreign developments in the field of management and leadership, with the peculiarities of working in a globalized world economy.
There are business schools that offer completely foreign programs in partnership with such eminent schools as Grenoble Graduate School of Business, Stockholm School of Economics, Antwerp Management School, etc.
So what will an MBA give you?
(You can use this in your opening essay, I don't mind.)
– career growth = increase in income;
– industry change;
– MBA changes the psychology and understanding of business; as it is now fashionable to say, it makes you leave your comfort zone, get a new interesting experience and shake things up;
– the opportunity to find a partner to create a new business;
– new markets (geography);
– communications, communication, networking, updating the list of business contacts;
- trainings, games of the collective mind expand consciousness - you will see the prospect of growth in that area of \u200b\u200bfinance or business that previously seemed like a dead zone to you, you will be able to abandon stereotypes and see new unexpected horizons;
– learn to find more effective solutions for your business tasks without interrupting your current work;
- even if there is no instant result, over time, new knowledge will begin to pay dividends and one way or another will be useful in life.
Well, let's be honest: economic education and business education are two different things. You can have a higher economic education, but this is only theoretical knowledge. An MBA gives you a comprehensive and versatile understanding of management processes, you learn to use modern management tools in practice, and as a result, you will be able to effectively solve the complex problems of modern business. You will learn how to generate development concepts and, following them, change yourself and the environment, accept any life and professional challenges, regardless of the type of activity, industry, company or country. In general, good luck!
Program MBA (Master of Business Administration) - historically the main (flagship) program in the business school. In addition to MBA, Executive MBA and DBA programs, business schools offer medium-term and short-term business education programs: professional retraining, advanced training.
There is a lot of truth in the picture; a similar situation sooner or later comes to a lot of career-oriented managers and business owners. Only new knowledge and new skills give the opportunity to solve problems. Humanity has not come up with anything else.
The “core of competencies” of top managers includes everything that is the basis of the modern MBA and EMBA standard (this, in particular, is a study of the competencies of top managers of the Skolkovo School of Management)
MBA- a training program for managers of middle and senior management for effective work in business, state and municipal government (see).
Based on the results of training, a qualification MBA degree. To study for an MBA, you must have a diploma of higher education and at least 2 years of practical experience. (AMBA-accredited business schools and business institutes set a minimum tenure of 3 years).
Graduates of MBA programs have basic knowledge in general and strategic management, marketing, finance, business development, accounting, human resource management, project management, etc. (see the full list of MBA graduate competencies). A graduate of the MBA program, the business school issues a diploma of professional retraining established by the (state) sample and its own MBA diploma.
MBA competencies are important for Russian managers because:
- the level of competition among employers for well-educated and talented candidates is high.
- the skills of about half of the current managers in the field of management do not meet modern requirements: there are no skills and tools for introducing innovations, change management, there are not enough competencies for business cost management, project management, communication skills are insufficiently developed, etc.
- older generations of managers are retiring and there is a shortage of competent and experienced managers to replace them. To date, the number of top managers with an MBA degree is still small.
According to the survey of the magazine "General Director"
1. Where is an MBA required?
- having an MBA diploma significantly increases the candidate's chances of successful employment in any field at any level of management, especially in the financial and banking sector, marketing and sales, project and operations management, consulting, state and municipal government.
- graduates of business schools in the field of strategic management are most in demand.
- in companies operating on the international market or involved in international trade transactions.
- knowledge. received at the MBA will be valuable for those who run their own business or plan to create their own startup.
2. What can you find on an MBA?
Knowledge, skills, abilities. Even people with impressive experience, who think they know everything, after entering the MBA program, are convinced that this is far from being the case. The fact is that the business school accumulates knowledgeable, experienced, ambitious, thinking people, and this "collective mind" enriches each participant in the training.
More than 70% of MBA graduates consider knowledge the most the main learning outcome . And not only knowledge. Here is how they talk about it in an interview with our portal:
- "rethinking the life position and the main goal, understanding the main business processes"
- "expanding the horizon of strategic vision and thinking"
- "the general structure of the necessary knowledge and the identification of bottlenecks in one's own knowledge for their further development"
- "served as a starting point for a new round of self-development"
- "believe in yourself"
- "self-awareness and a different view of what is happening"
- "Changing mindset"
- "new thinking, new qualitative perception and understanding of business processes"
- "toolkit for company reorganization"
- “the systemic attitude to one’s own work and evaluation of the work of others has changed”
- "the ability to objectively compare your own level with colleagues from other companies"
- "a new look at resolving issues and building partnerships at work in a different format"
- start-up incentive, etc.
Changes. Studying and communication in a circle of interesting people leads to changes in your approach to work and business. You begin to change, discover new talents in yourself and develop new skills, become more confident in yourself. You can speak the same professional language with professionals in any business. Your price in the labor market is growing.
Communication environment (Networking).
At the business school, the MBA program brings together active, career- and business-oriented people. People for whom the desire for something new, creativity and interest in life are natural. Is this not an ideal environment for your further personal and professional growth? Business connections and acquaintances during an MBA study often lead to dramatic changes in a career, and indeed life. This often pays off the cost of training many times over. The base of your contacts is expanding, and you also find yourself in other bases: the base of a business school, the bases of alumni associations.
3. Who is studying for an MBA?
Getting a business education is directly related to business success. However, it can only be effective for those who have practical work experience after graduating from higher education. Usually this is at least 2 years of practical experience (not necessarily in a managerial position) or 3 years in business schools with prestigious international accreditations.
Business education is based on discussions of business situations (case-studies), which involve, to a large extent, reliance on one's own practical experience. Therefore, for those who have little such experience, we advise you not to rush to the MBA.
Contrary to common perceptions, MBA programs in Russian business schools are not limited to CEOs only.
27 years old - 33 years old - average age of MBA students. The most numerous cohort of MBA students is aged 29-44, although there are students younger and older.
Composition of the MBA program group(on the example of the evening program):
50 - 60% - middle managers.
25 - 30% - top managers (general, commercial, financial directors, business owners).
10 - 15%
- line managers.
4. Motives for applicants to MBA programs, see
5. How much can your annual income increase after the end of the MBA?
According to the statistics of our portal, managers who, 2 years after graduating from the MBA moved up the career ladder have increased their income on average 1.5 times , and this equally affected middle and top managers.
Among those who remain in the same position, there is a difference: top managers were able to increase their income 1.5 times , middle managers - by 30% .
The salary of a candidate with an MBA, as a rule, is 25-30% higher than the average job seeker's salary, recruiters say.
6. Career changes and earnings growth after MBA, see
7. Who shouldn't go for an MBA?
- Those who do not have a clear goal in their development and do not have the motivation to change themselves, their work, their business.
- For those who are not ready for serious work during their studies and perceive the MBA as a "magic wand" that will automatically increase their salary and transfer them to the chair of a top manager.
8. Leader or not a leader?
An MBA is also a great opportunity to develop such a quality as leadership. You can understand what qualities you have more by passing
The course "MBA, Strategic Management" gave me the direction of my further development, a more comprehensive understanding of business, self-confidence and the necessary knowledge of economics and management, which I practically did not have. I had to read a lot to improve my level in all subjects. Self-education and the additional opportunity to consult with teachers between classes or by e-mail deepened and consolidated knowledge on their specific examples.
I am grateful to all the teachers, especially those who patiently answered all my questions and gave me feedback, criticized and advised what to pay attention to - Saginova O.V., Kolesnikov V.N., Sokolnikova I.V. I would like to single out Andrey Sergeevich Ildemenov for a comprehensive vision of the entire business, his consultations were invaluable, and the range of issues on which he can advise is surprising in its breadth. At M.O. Ilyin and D.A. Shtykhno - well-structured courses, including the necessary theory and practice, and sufficient rigor and soft control allow knowledge to be better absorbed. Another courses that were very valuable for me were “Business Process Reengineering” by V.V. Repin, “Project Management” by A.Yu. Sooliatte. and "Creative methods for solving problems in business" Kaloshina N.G.
Thanks to guest lecturer Dmitry Agishev from Deutsche Bank, who, despite his busy schedule, personally answered many questions on CSR by phone and email. by mail, and also arranged, at our request, for part of the group an excursion to Deutsche Bank, where he told us about CSR with examples, showed a collection of contemporary art and examples of lean production and organization of jobs and time.
Another MBA course introduced me to wonderful people - my colleagues. We had a lot to learn from each other, and in addition to professional connections, we found friends.
For me, this training was a process of systematizing existing knowledge and practical experience in the financial and economic sphere, obtaining new theoretical knowledge in the field of personnel management, marketing, and general management.
The MBA teachers gave me a huge amount of useful information that helps me every day in my business. For 2 years of study, I was lucky to learn from such gurus as Shtykhno D.A., Ilyin M.O., Sokolnikova I.V., Boichenko E.A., Parfenov P.A., Ildemenov A.S., Kitova O. IN. I express my deep gratitude to them! Their courses were really helpful, interesting and lively.
But how much interesting, creative, precious information I received from my classmates in the learning process - I cannot measure! I am grateful to fate that I was in the same group with such interesting and intelligent people.
What did my MBA study give me?
First, the knowledge that I so lacked. For which I am very grateful to our teachers!
Secondly, the opportunity to look at many business issues from a different angle, and to pay attention to some for the first time due to the fact that there were people from various business areas nearby.
These 2 years were very interesting and informative for me. As for the educational part, thanks to the MBA training, I systematized my existing knowledge and skills in the field of finance, gained a lot of knowledge about personnel management and the organization as a whole.
When I started my MBA studies, I held the position of a specialist, and now my candidacy is being considered for the position of department head. I think the result of training on the face)). I am sure that the acquired knowledge will be useful to me in my future professional activities.
I would like to thank our teachers for their work and readiness to answer all questions of interest.
us questions. Separately, I would like to note Sokolnikova I.V., Mashinistova G.E., Stankovskaya I.K., Ilyina M.O., Boychenko E.A., Berger S.A., Digo S.N.
And of course, I am extremely glad that I shared these 2 years with our wonderful group. It's wonderful when so many different interesting, talented and strong personalities gather in one place. It was very nice to solve case studies, share opinions and listen to a lot of ideas on various issues. And it is doubly joyful that our communication did not end within the walls of the university, but continued in an informal setting. Thank you colleagues for a great time. I hope we will meet periodically in the future. I will often remember you and our training with pleasure.
These two years flew by like one day, but they were unusually eventful and productive! During this time, my management skill gained a strategic focus. I realized that with the most professional approach to organizing production processes, their efficiency will remain low if subordinates work at all levels of the company, and not like-minded people. I also realized that finding such workers is not easy. And I really enjoyed working in teams with people with different complementary skills. I hope that it was just as interesting to work and communicate with me, and this communication and cooperation will be successfully continued.
I am grateful to the teachers of the School for their ability to charge us with their energy and enthusiasm, for their ability to turn disparate skills into a single system for setting and achieving goals. Thanks to S.V. Ildemenov, O.V. Saginova, P.A. Parfenov, M.O. Ilyin, E.A. Boychenko. It was strong! In addition, thanks to the wonderful English teacher M.V. Zarudnaya, I was able to overcome my “black streak” in passing tests, and finally successfully passed the international exam for knowledge of business English WEIGHT.
I realized that fear and lack of initiative, fear of change and risk, both in business and in personal terms, are tantamount to degradation, and a person develops only by setting new ambitious goals. My plans include working in a business whose vision and values I share. Whether it's my own business or whether I remain a hired manager, I'm not going to be just a "follower". Finding such a business is not an easy task, but now I know exactly what I want, and I believe that I deserve it.
Finally, I just enjoyed learning. Daily non-standard situations and tasks make the brain work to its fullest - this is a great alternative and addition to the work routine. And it's especially great to see how the learning experience is successfully implemented in the work.
As Winston Churchill said: "Success is the ability to move from one failure to another without losing enthusiasm."
She planned to obtain an MBA degree as one of the key stages in her career development. In the process of training, I significantly expanded my horizons, took a different look at my tasks. The training helped me better understand business issues, make better decisions, and build relationships with employees more effectively. I believe that having a business education helps me to be a more qualified specialist, to be in demand, and therefore, contributes to career development. I can say with confidence that I have the necessary knowledge and experience, backed up by an MBA diploma.
Separately, I would like to note the highest level of qualification of teachers, many of whom are practitioners who taught us to think and work in a team. I would especially like to note the teachers: Sokolnikova I.V., Morozova T.V., Stankovskaya I.K., Ilyina M.O., Boichenko E.A., Berger S.A., Digo S.N., Parfenova P. A., Ildemenov A.S. and S.V., as well as extravagant guest lecturer Ilya Balakhnin.
I wish success to the program leaders, keep it up!
I consider the main result of the two-year training to be the acquisition of new managerial skills and the development of previously unknown approaches to solving various problems that arise in my professional activity. The training made it possible to structure the theoretical and practical material, which made it possible to reveal more fully as a professional, as a creative person, to see the picture “as a whole”, to systematize their knowledge and comprehend the accumulated experience. The program employs faculty - not only with a high level of theoretical training, but also with a significant amount of practical knowledge. The synthesis of practical skills and the theoretical base of our teachers made it possible to obtain not only theoretical knowledge in areas of interest to business, but also qualified advice on topical issues that arose during the training. The undoubted advantage of the program was teaching English at no additional charge.
Is it possible to become a successful specialist without specialized education? Extremely difficult. Is it possible to become a successful manager without a business education? Lots of examples.
Then why does business education exist? Why do companies spend millions to get their executives to have an MBA? And how can this degree be useful to an ordinary person?
We decided to answer these popular questions together with - one of the most popular business schools in Russia, where you can get an MBA degree and become a master of business administration.
What is the point of business education?
Business education is really fundamentally different from what is taught at a university or in advanced training courses. Theoretically, it is at the intersection of several disciplines that are related to management - law, psychology, economics, statistics. But theory is not a major part of it, simply because the problems that managers face are not of a narrow, specific nature. The ability to apply the acquired knowledge from different areas comes to the fore, so MBA programs are built primarily on the basis of practice.
Imagine: a large textile factory presented a "gift" for Christmas, burning down a couple of weeks before the holiday. The restoration of production will take six months - it is obvious that during this time all the workers will run away. Which textbook to look into to find a solution?
The problem is that in no - most likely, the textbook simply does not exist. Unlike other fields of activity, there are not so many ready-made solutions in business, otherwise we would all have become millionaires long ago. Too many independent parameters, too many unpredictable circumstances.
Business education teaches how to act in situations where the choice is huge, and there are no ready-made solutions. This requires high-order skills: strategic thinking, planning, analysis. That is why business education is not like studying law or materials science - only knowledge is not enough.
A decisive role in shaping the thinking of a manager is played by practice or case study - analysis of real business situations. By the way, the example with the burned down factory is also from real life. The manager persuaded the owners to pay workers full wages for six months while production was being restored.
After the company returned to the market, labor productivity at the factory increased by 40%, customers and staff became almost twice as loyal. The manager proudly wore the status of a business guru, until a few years later the plant was forced to file for bankruptcy. There are no universal solutions, and it is important to take into account any experience.
Who gets business education?
MBA students are either managers or management candidates. Someone aspires to grow up to the position of a boss at work, someone dreams of gaining market share with their company. Both will benefit from an MBA, but most likely they will choose different study programs.
There are several programs in the world for different levels and areas of training - from the most general MBA General to highly specialized ones. But the core of training, consisting of the basics of various functional specialties (from marketing to HR) and subjects in analytics and ethics in business, is preserved in all programs.
At Moscow Business School, the most basic training option is presented in the form of the MBA Start program, aimed at solving practical cases. You can also choose industry-specific MBA specializations and study your direction in business in depth, or functional ones, which give you the opportunity to immerse yourself in one of the areas of business administration: this is useful for those who aspire to lead a department in a company.
Studying according to the general program is aimed at managers of all categories. A manager who solves the work problems of his subordinates is a bad leader, so every boss needs complex rather than highly specialized knowledge in the first place.
What exactly do leaders learn?
The skills of the Master of Business Administration go beyond the standard technical skills of working with reports and personnel. Here is an example from practice: one of the graduates of the Moscow Business School immediately after graduating from the MBA program faced a new job with a test of strength - it was necessary to launch the work of one of the departments of a shopping center under construction from scratch in two months from scratch.
“Everything was important here: competent setting and distribution of tasks among a limited number of employees, rational time planning, motivation of employees for a large amount of work in a construction environment, the ability to quickly make important decisions,” she said. It seemed hardly possible to complete the task without the skills acquired in training.
MBA instructors are people with relevant experience. As a rule, the higher the status of an educational institution, the better the specialists it invites. This is one of the main differences between the learning process in the MBA program and other courses - the role of the teacher's personality is higher here.
Is it the same as business training and coaching?
Real business education is not like coaching. The MBA program is not limited to psychological training, although there are some - success in business is too often tied to the leadership qualities of a particular person, so their development is also necessary. But trainings do not occupy the most significant part of the training: in the Start Moscow Business School MBA program, the Manager's Personal Efficiency Skills module is only one of 15.
Often the importance of studying in an MBA program is reduced to networking. You not only learn how to build business communications through communication with colleagues, but also create an asset from social connections for the future. There is a popular opinion that networking is generally the most valuable thing in studying for an MBA program, and it is worth going to get a degree only because of the right social circle.
What to do after MBA?
Much depends on the program you have chosen. If this is a functional program, then for a start you can become a line manager, and this is perhaps the most reliable option in terms of career growth for specialists and leading specialists.
Industry programs are popular among those who have already decided on the area of business or the direction of career development for a manager. The general MBA program is a classic option that started the history of MBA education in the USA: people go into it to get the most detailed experience that will be useful in any managerial position.
You can learn more about study programs at Moscow Business School.