World Colleges Information

MBA is an aptitude. It is a taste for business, a liking towards tak-ing the call and controlling the outcome through the applica-tion of knowledge and reliable procedures. After politicians, MBAs could well be the group of people who run the world and its economics.

MBA has been the choice of post graduate degree for a very large percentage of stu-dents in the undergraduate lev-el across India, a percentage no other post graduate degree can easily lay claim to. One would be surprised at the number of IITians crossing over into IIMs gates every year! While hold-ing a Masters in Business Ad-ministration is a definite route to better employment, it would be worthwhile to understand the investment an MBA is.

The degree is no less than four years of your commitment and effort – 2 years in training for entrance exams and 2 years in class if you are talking full-time. With part-time, online or distance programmes, the timeframe may be a little less,but the commitment and effort remain the same.

Few truths every MBA aspirant thinks he knows but doesn’t

MBA is only a tool that can take you closer to your goal. It is not a job guarantee, even if your B-school guarantees placement. You are on your own.

It increases your potential to succeed. The degree by itself cannot help if you do not strive for excellence every moment of the way – whether you are a student or Vice-President with a famous MNC.

MBA is only a foundation, building a career out of it is up to the degree holder.

It isn’t about completing the course work and graduating from class. It is a continuous journey in knowledge and skill acquisition.

Just because you hold an MBA, nothing will seek you –neither job, nor hike, nor pro-motion. You need to seek what you want.

An MBA is a means, not an end. You decide how far you take it.

However, there are a few things MBA can do to you

Brings you perspective

Life can feel like a race at times and multiple responsibil-ities can cloud your judgement preventing you from seeing where you are going. Getting into an MBA programme will put you in proximity with the like-minded. The experience of having like-minded people to share ideas with can open up a whole different world to you.

Helps you network

If anything, MBA is the biggest paid networking you are ever going to do. Make the best use of your time in a B-school. The connections you make will be worth their weight in gold once you move into the corporate world.

Use your years at the B-school hus-tling, building your network. Even two decades down the road, you can be sure your net-working effort is going to pay off.

Presents a great learning opportunity

The knowledge you gather through the course of your time in a B-school is going to be your ultimate companion in the years to come. Great teach-ers and colleagues are an MBA student’s biggest blessing. Getting to learn from some of the brightest minds in the field is not a destiny reserved for all.

Gives you focus

The structure of an MBA programme is so drawn up to help you narrow down what you want to be in the world of management. Your focus on where you what to go is a direct by-product of what you learn and, the knowledge and skill base you develop over the years at school.

Opens up career possibilities

Having an MBA can help you get noticed by your em-ployer more easily. Once you prove that your MBA tangibly differentiates you from the rest of the competition, you can be sure of getting into your dream organisation.

Who should get an MBA

MBA is not for everyone.

You should decide on an MBA only if you like the idea of run-ning a business (at any/differ-ent levels), like being in lead-ership roles, intend to use your degree and learning for career enhancement or if you intend to change careers.

Alongside finding your rea-son to do an MBA, you should also gain a complete under-standing of what it would take to get an MBA. Early plan-ning is vital to getting you into the programme in addition to keeping you focussed on com-pleting the programme. That would include

• Educational qualifica-tion: While any undergraduate degree can qualify you to ap-ply for an MBA in India, the requirement may not be the same if you intend to apply to foreign universities. Check with the various universities and prepare accordingly. Pre-pare alongside for the entrance examinations of different insti-tutes as well.
• Financial planning: Define how or who is going to pay for your MBA – do you have a fund in place or would you be taking student loans. Also fig-ure out how and in what time frame you intend to make good that expenditure.
•  Experience: Some uni-versities/programmes demand a prior work experience of a minimum of 2 years. Others don’t. Work experience can greatly enhance your learning ability in class and also help you appreciate what is being taught. Getting yourself a job for a couple of years prior to your MBA can also help you stabilize your finances for the years you are going to be out of work.

• Programme type: Not ev-eryone is cut out for a two year programme. Not everyone needs a two year programme. There are different kinds for programmes available for one to choose from depending on what one is willing to invest– time wise, money wise and effort wise. The programmes vary widely from two-year programmes to one year programmes, executive MBA programmes, weekend pro-grammes, online programmes, distance education programmes, contact programmes and so on. Although every pro-gramme has its pros and cons, the pro or con depends on what you want out of it. Consider carefully before you set foot into one.
• Go online: There are plenty of courses by sought after professors and universi-ties available online. Most of the time, they will be part of the in-class experience of that professor/university. Signing up for a couple of these pro-grammes will give you a fair idea of what to expect in class in general, the amount of com-mitment and work that is ex-pected of you, etc. Most of the online courses are free.

Post MBA

Post MBA is the begin-ning of your career or your second career as the case may be. Your success will be determined by what you do once you’re out in the real world. A certain conditioning of the mind is essential so that you can absorb things as they happen to you. Post MBA is not a one-time thing.It is the rest of your lifetime.

Everything changes once you have earned your degree– your perspective, the job market, people’s perception of you, your own perception of you and your skillset. How you work all these different elements together will define your success in the real world.

Working the mind: Being a student is a different mind-set from that of being at a job. You will be expected to fall in line with the culture of the or-ganisation – that means adapt-ing your behaviour, tone and dressing style to suit the corpo-rate environment. You need to train your mind to be punctual about all kinds of timelines –from getting in and out of of-fice to project deadlines.

Facing reality:At case-study sessions in class, youmight have played the role of a CEO or Vice-President and made big decisions for the company in the case. However, as an employee, your situation will be miles away from that. The reach of your role will be limited. Very limited. You need to live that reality and then chisel your way up.

Dealing with change: Ev-erything changes - the free-dom, the people, the culture. It is easy for someone fresh of B-school to be disillusioned at their first jobs. They may find the change overwhelming. But what you need to know is, that is the way things are going to be. This is your present and fu-ture. Network with colleagues, go out with them, take part in outside-the-job team activi-ties – not just projects. Deal-ing with change as soon and as easily as you can is vital to you proving yourself at your new job.

Being open to learning: An MBA degree does not mark the end to your learning. Post MBA is the time to keep an open mind. While there will be a great deal of enthusiasm in you to apply all that you’ve learnt to the projects you han-dle, that is not going to happen in real life. You will be contin-uously exposed to a great deal of fresh and stale ideas, things that work and don’t work. Be a sponge and absorb as you go. What you learn at every job is going to help you in your next.

The fall side of MBA

An MBA can give you a false sense of security. You might have spent your time in class honing your analytical skills and being told that you are amazing and bril-liant and a natural leader, but all that will be challenged in the real world by people and business problems. Suddenly you will face issues that were not addressed in any of your books. Being confronted with problems you cannot solve will confuse and humble you. Your perseverance will see you through, sometimes the same may cause you to fail.

But you will learn to fail and accept that you are no God. You might start seeing that your hard-earned degree is not delivering what is expected of it. Problem is, your boss will see it too. It can be discourag-ing and demoralising. Because of this, 80% of MBAs end up changing their jobs within two years of earning their degree. You will be engaged in mak-ing more presentations than any actual decision making in the initial stages of your ca-reer. This will be a huge blow for MBA pass-outs who hadthe pride of being labelled as thought leaders and decision makers in their class.

Having responsibilities without decision-making priv-ileges can make you uneasy and exasperated.

On a slightly better note, your MBA increases your ca-reer flexibility and can earn you a fatter paycheck in due course. But your immediate ac-tion plan, no matter what your current position – physically and mentally at your job is to stay business savvy, be updat-ed, be open to learning, work on your soft skills, step readily out of your comfort zone, hone your leadership skills, work and party hard, network with peers, stay in touch with your B-school friends and men-tors, go to business meets and connect with others outside of your current circle, find a men-tor or mentors in the corporate world, find a hobby or a pas-time activity involving like-minded fellows inside or out-side of work, keep your friends closer, take short breaks (there is no point killing yourself with work), and, last but not the least, let go of your percep-tion of success.

BUDDING MANAGERS

MARCH 2014 ISSUE