The 10 Most Under-Rated Reasons Why You Should Consider Pursuing MBA Degree
For many decades, MBA is known as the “Gateway to Better World” by the business class and working class who seek to further their horizons of progress and prosperity by acquiring soft skills, fostering a network of like-minded individuals, and acquiring knowledge on the latest demands of the market. The MBA in Family Business and Entrepreneurship is a relatively new entrant in the arena of business specialisations, but it is emerging as one of the most sought-after specialisations with candidates often choosing it over the conventional major streams of finance, operations, and marketing. These trends point to the fact that millennials are go-getters and are not too enthusiastic about traditional forms of service.
As per a KPMG report (STEP 2019 Global Family Biz Survey), more than 40% of the leaders of corporate houses believe that their business will stay in the hands of the family. This demands robust training of the future young generations of gentlemen and ladies in the fine art of entrepreneurship and family business management. Family business management programs are therefore much more than just a degree on paper. They provide the requisite development that makes a young business aspirant into a successful enterprise founder and the torchbearer of a rich legacy of the family business.
While everyone knows and harps on the monetary advantages of an MBA degree, let’s delve into the under-rated but equally important factors that warrant the pursue of an MBA degree in a family business and entrepreneurship.
- Network of Like-minded business aspirants: B-school is the best place to form life-long lasting friendships with batchmates who share the same purpose of becoming a future business leader. The networking opportunity offered in business conclaves, management conferences, and expert speaker sessions provides an opportunity to connect with leaders and pioneers in various fields of business. This opportunity is seldom highlighted in why one should pursue an MBA but it forms a cornerstone of future success for any individual.
- Structured Delivery of all essential knowledge: In the age of the internet and open online courses, any subject can be learned from Youtube and online learning platforms. One may question the utility of sitting in a classroom in an MBA course. The answer is the structure and well-developed pedagogy deployed in an MBA programme coupled with insightful class discussions with fellow batchmates on any case study and subject cannot be received by merely watching Youtube videos and completing online courses. The communication skills in an MBA classroom hone the presentation skills of an entrepreneur which is important to effectively pitch business proposals to investors and customers.
- Teamwork in student committees: One of the most under-rated important features of a B-school is the various student-run clubs and committees which manage and organise events that are relevant to holistic personality development. Being a member of any committee provides an opportunity to shoulder the responsibility of managing activities and events in a college which becomes the foundation for managing the large-scale business enterprises. The hands-on experience gained in people management, time management, and working in a team cannot be replaced by any online lectures or classrooms.
- Develop your communication skills: Business communication needs to be effective, and an MBA programme can help you build the ability to do so with coworkers, clients, and other stakeholders. You can improve your communication skills by taking classes in public speaking, negotiation, and dispute resolution in MBA programmes. Being able to effectively explain your ideas and proposals to colleagues, clients, and investors makes public speaking a crucial business talent. Through courses that teach you how to create and give presentations, how to respond to audience queries, and how to use visual aids successfully, an MBA programme can benefit you in improving your public speaking abilities. The ability to effectively manage disagreements and sustain positive relationships with co-workers and clients makes conflict resolution a crucial business skill. You can learn conflict resolution skills in MBA programs, such as active listening, empathy, and problem-solving, which can help you get through challenging circumstances and uphold healthy relationships.
- Develop your personal brand: In today’s business environment, having a strong professional network is essential since it may lead to new opportunities, offer assistance and guidance, and keep you abreast of best practices and industry trends. You may have the chance to network with a variety of business professionals during an MBA programme, including fellow students, graduates, professors, and business thought leaders. MBA schools frequently feature a large alumni base, which can give you access to a variety of businesses and industries. Alumni networks can give you access to job postings, internships, and other resources for professional advancement in addition to mentorship opportunities. Also, many MBA programmes host networking events, and guest speakers that can help you network with the industry.
- Learn about global business practices: The world has become smaller as a result of globalisation, and companies of all sizes must know how to function in a global market. You can gain a more comprehensive grasp of global markets, cultures, and business procedures by enrolling in an MBA programme, which can provide you with a worldwide perspective on business processes. International business courses are frequently offered in MBA programmes, and they can teach you about the benefits and difficulties of conducting a company in many nations and regions. These classes may address subjects including international marketing, cultural distinctions, trade laws, and global supply chain management. Furthermore, an MBA degree might assist you in creating plans for bringing your family firm to other markets. These tactics might involve conducting market research, finding suitable business partners, and creating a worldwide marketing strategy. MBA schools give you access to industry advisors and professionals who can offer direction and help while you create your global business plan.
- Imbibing Leadership Skills for the family business and corporate world: An MBA programme can provide you with the understanding and abilities you need to lead your family business successfully. Leadership is a crucial trait for success in business. Your leadership abilities, such as those in communication, decision-making, conflict resolution, and team management, can be developed through the courses and opportunities offered by MBA programmes. Leadership-related courses are frequently found in MBA programmes, and they can teach you about the many types of leadership and how to use them in your company. These classes might address subjects like leadership ethics, teamwork, motivation, and emotional intelligence. Via guest lectures and networking events, you can also get the chance to learn from seasoned business executives.
There are innumerable other benefits of joining an BBA MBA program. Get ahead in the game with IMNU’s value-added courses! Their Integrated BBA-MBA programme is carefully designed to make you market-ready. Don’t just dream about success, start living with it! The courses offered in these programmes are curated specifically to help the students understand the nuances of handling different aspects of the business from finance to legal to regulatory to marketing.
Institute of Management, Nirma University
Institute of Management, Nirma University, provides an excellent campus for students to thrive and learn different management concepts and skills. The program was created with current business needs, as well as the industry’s high demand for candidates with the necessary techniques and required managerial skills.
Apply Now for BBA MBA Admissions 2024: https://bit.ly/bba-mba-five-year-integrated
