Dr KJS Anand lists some important tips that every management programme needs to equip the student with
Whether you are doing an MBA from a high-profile management institute or pursuing the course at one of the private universities/institutes in the country, there are certain basics that all good MBA programmes should teach you, so that when you enter the job market you are well-equipped and sought after by employers.
Confidence & credibility
An MBA is not merely a degree you acquire from a business management institute. It’s an overall grooming for a career in business which should indicate that you've mastered a certain level of knowledge in business management. It should give you the ability and confidence to take part in business discussions and come up with out of the box solutions.
Strategic thinking
This is vital. A logical mind-set is essential for troubleshooting and project management. An MBA programme teaches you to look at problems and opportunities holistically. It trains you for cost-benefit analyses and strategic planning for problems and opportunity you will have to deal with in the course of your work. Strategic thinking enables you to respond to market forces and competitors with agility and ought to be the cornerstone of MBA training.
leadership Skills
When you work towards an MBA degree, you participate in group projects, presentations and assignments that require you to showcase your leadership abilities. These types of situations will in turn give you the necessary skills to handle real-life business challenges.
Risk Management
Whether you work for an established firm or a start-up, in today’s business environment, there’s always an element of risk involved. If you have acquired good risk management skills through your MBA programme, you will be able to assess these risks and make strategic shifts which will stand you and your company in good stead. Good risk management skill is in great demand by employers today.
Writing Skills
Every business school should include a course in business writing. A badly written business letter is a sure turn off. Sales, marketing, accounting, auditing, HR may have their own lingo, but in business communication you need to present complex ideas clearly and precisely, shorn of jargons.
Effective corporate communication is an important part of a successful business. An MBA should also give you the ability to research business topics and develop written analyses quickly.
Time Management
While undertaking an MBA degree, you must learn how to manage your time effectively. In business there are deadlines you have to meet and unless you have been trained to make the best use of the time available, this can become a stumbling block for you and your company.
Interpersonal skills
It is a soft skill, but so essential for anyone aspiring to leadership roles. Good interpersonal skill can work wonders when it comes to dealing with colleagues and with clients and in striking business deals. It's a skill whose importance in business training cannot be overemphasized.
Public Speaking Skills
Communicating with people, one-on-one, as well to the art of public speaking is something an MBA programme must teach students. Since management graduates will be required to deal with all kinds of people in their professional life, this critical ability learnt at a business school will prepare them for the role they will be expected to play in their profession.
Project management
Proper project management skills are essential whether you decide to work within an organisation or choose to become an entrepreneur. Advanced skills, such as developing product ideas that fulfill unmet market needs, integrated marketing channel budgeting, and viable market analysis are also important.
Technical Skills
Technology is important in today's world. An important component of the business school training is technical skill. They must teach you how to most effectively use business software and related programmes. Acquiring these technical skills gives one a head start in the business world.
A good MBA degree doesn’t come cheap. It is expensive and also intensive because it seeks to provide all the above skills and competencies in a short span of time to students with potential aiming to be entrepreneur’s future business leaders.
The writer is executive director, IMS Noida