Masters of Business Administration or MBA is a masters’ degree studied to learn different aspects of business and its processes. MBA in recent times has gained huge popularity among students and has become a preferred course after doing bachelors in any field. In India, MBA is considered as one of the most important course by aspirants which will help them secure a high paying job. But do you think in a country like India where every year more than 50 lakh students pass out doing MBA, can this really get you a well settled job? To help you deal with the building pressure of studying MBA, we bring you the advantages and disadvantages of the course which will help you decide for yourself.
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Advantages of Possessing an MBA Degree
There are several good advantages of pursuing an MBA and before you go on to enroll yourself into a B school, make sure these advantages are your priorities.
Ease in Getting Job
Having an MBA degree is a proud feeling as it takes lot of efforts, time and money to be honoured with such a prestigious degree. Being a manager is no easy task, it takes sheer hard work, risk bearing capacity, responsibility and dedication. If you belong to a middle class family, then your prime objective will be to have a stable job that can ease your family’s life financially. To ensure a stable job at a big company, one should have acquired high degree of education like MBA. Being equipped with an MBA degree makes the process of securing a good job at a reputed firm quite simple and easy. Once you have secured a stable job at a reputed firm, you can grow to become a good manager based on your performance and skills.
When a student aims to pursue for an MBA degree, they should be prepared to face critical and challenging situations during different task and events which are being carried out in the classroom. MBA course demands a student to pass through different levels of difficulties that will test the patience, decision making power, situation handling capability, and risk management. The main aim of MBA degree is to judge student’s capability of being a successful businessman and train them to face the competitive world. By performing critical tasks in college and business events, students learn to manage every situations effectively thus making them capable of holding a manager’s post.
Marketing and Production Skills
With the advancement in technology, it has become necessary for a manager to stay up to date with modern marketing and finance techniques in order carry out tasks in an effective manner. Online marketing has now become one of the major mode of advertising a company’s goods and services. The rapid boost in online marketing is due to its wide reach and easy to advertise methods. While studying MBA in college, a student is taught about new marketing strategies, modes and activities. They also make a student aware of upcoming trends in marketing or any other sector they are pursuing an MBA in. These strategies and trends taught in the college will help a firm to face the competitive world. Also, the students are taught about emerging production methods that will help a firm to fulfill a customer’s expectation and manage the production cost effectively.
Disadvantages of Not Possessing an MBA Degree
Although there are so many advantages of having an MBA degree, the degree also has a few disadvantages.
Difficulty in Getting Job at a Top Level Organization
A person without an MBA degree may find it difficult to reach at the top level management of an organization. He may secure a job at a reputed firm after much struggle but may fail to hold a manager’s post as easily as an MBA graduate can. The reason behind it is the lack of trust their senior and higher authorities have on such employees. They doubt the capabilities and skills of such employees and find them incapable of performing critical tasks. These people are often judged based on their educational qualification. Also, they become soft target of their seniors that impose them with higher workloads that prevents them to show their skills. It may take years for an employee who does not possess an MBA degree to hold manager’s office and gain the trust of top level management.
Lack of Knowledge
It is not necessary that a person without an MBA degree is incapable of performing managerial task. Even they may possess skills that can help a firm to top the charts of success and handle difficult situations with utmost ease. But here’s where the problem lies, they may not have proper knowledge about the different strategies to be used to make certain things work and to fulfill the company’s goals. Lack of knowledge will prove to be barrier for them when making a critical decision. They may not be aware of emerging marketing techniques and production methods that will prevent them to take crucial steps which may have helped to face a competitive market. Hence, lack of knowledge of such employees will prove to be a barrier in effective functioning of an organization.
Communication plays a crucial role in managing company and customer’s relation. Customers now prefer service/quality over price. With such demand, it is necessary for a firm to have effective communication channel between company and consumers. While pursuing an MBA degree, a student is exposed to multiple tasks that help him to improve the communication skills. But while performing a managerial job, there may come a time where you may have to make a press release or arrange a press conference where you will have to speak about different issues. MBA graduates might not be able to pull them off easily.
These are the various advantages and disadvantages of pursuing a course like MBA, if you are planning to do it, make sure you weigh in the pros and cons before going ahead.