Most business professionals today have an awareness of the benefits of an MBA. If you are thinking about going back to school to get an MBA to help you achieve your goal or working in a high-paying, well-respected business career, this is definitely a move that is worth considering.
The MBA is a qualification that has been designed to help you improve your current skills along with developing a new skillset to help you achieve success with business management and leadership. Along with this, studying for an MBA, whether you decide to take the traditional, campus-based route or get your degree online, will provide you with further opportunities to network with other business professionals and build valuable connections.
Read on to learn more about some of the skills you will be able to develop even further by getting an MBA, and some of the most high-demand concentrations to choose from.
Leadership Skills
Programs such as the MBA graduate program from Kettering University are structured in a way that allows for a lot of group activities and participation. Working alongside others is often a central aspect of the program in order to allow students to build their team-working and leadership abilities.
All students should have plenty of opportunities to be the team leader while working on MBA degree projects, which ultimately gives you the chance to practice your leadership skills and take responsibility in a hands-on setting.
Problem Solving Skills
Getting an MBA will provide students with a range of case studies to work on. These are often based on real-life situations to prepare the student for the situations that they are likely going to be dealing with once they have graduated and started their career.
As a result of this, MBA graduates are able to become excellent problem solvers; this part of the program is designed to help you get to a point where quick and effective problem-solving becomes second nature.
Communication Skills
As an MBA student, improving your communication skills is a vital component for success in many areas of your future career, including successful networking, team-working, leadership, and even when it comes to finding career opportunities in the future. When studying, and finally understanding the benefits of an MBA, you will have lots of opportunities to develop your written and verbal communication skills.
These programs are designed to ensure that MBA students have as many opportunities as possible to increase their interpersonal communication skills, along with the chance to improve other vital communication skills like presentation and public speaking skills.
Once graduated and working in a graduate position, you may find that you need to have the communication skills necessary to build bridges in the workplace between team members or clients.
Risk Management
No matter which MBA concentration is the best option for you, studying for this degree program will help you build the skills that you will need to effectively manage risks along with taking the right risks in the workplace. Somebody who is fearful of taking risks is not going to be an effective leader, while on the other hand, taking too many risks could also cause damage to the organization.
An MBA program will help to prepare you to get to the sweet spot when it comes to risk-taking, providing you with the skills that you are going to need to weigh up the pros and cons, use data and evidence when taking a risk, and be able to take an educated risk that has been well-considered, with the success of the business at the forefront. Critical analysis, which is a huge part of effective risk-taking, is one of the main components taught in an MBA program.
Business Knowledge
Even if you are already an experienced business professional, studying for your MBA allows you to move beyond the department that you are used to, giving you the opportunity to get a better understanding of the bigger picture in business. This program will equip you for better understanding the way that the entire business functions including various processes such as finance, development, production, human resources, marketing, and more, and how they all come together.
With an MBA, you will also be able to gain a deeper understanding of the technical side of the company, including business software, equipment, and production tools that are used to keep everything running smoothly.
Which MBA Concentrations Are in High Demand?
If you are interested in the benefits of an MBA, it’s worth considering whether a specific MBA concentration might be an idea choice for you. At their core, all MBA programs will help you develop the above skills; however, certain concentrations are designed to prepare you for a career in a specific area of business such as marketing, finance, business intelligence, and many more.
MBA concentrations are an ideal choice for business professionals who have a firm goal for the future and know where they want their future career to take them, allowing them to become an expert in this area. Some of the most in-demand MBA concentrations available to study today include:
Business Administration
The general master’s in business administration is a common choice for students who want to boost their business career and find high-level management positions in companies all around the world. This is a more general business degree that covers the main pillars of business.
It is versatile enough to help you get into a specific role but does not focus on one area of business more than others, allowing you to develop a good all-round knowledge and leaving your options open for furthering your knowledge of specific areas in the future.
Business Intelligence
If you find data fascinating and are interested in learning more about how data is collected and then utilized to make the best business decisions, an MBA with a concentration in business intelligence might be the best choice for you.
Currently, data is having a bigger impact than ever before around the world. Data has grown from being something that once was only used in academics to something that the majority of businesses today are unable to succeed without.
Thanks to technology, companies of all sizes and in all industries around the world are now collecting huge amounts of data on customers, competitors, and more, which is being put to use to drive business decisions, strategies and plans to get better results. Data professionals are currently enjoying some of the highest demand around the world as companies begin to collect more data than they are equipped to handle.
Human Resources
Another ideal concentration to opt for if you want freedom when it comes to where you work and who you work for is human resources. HR is a key part of business operations in every business and industry around the world.
If the people aspect of business is something that you enjoy, and you want a career where you can work to make the workplace better for professionals, ensure that workers are treated fairly and get what they need from their employers, and make improvements to working conditions, an MBA in human resources might be a good fit for you. HR professionals enjoy high demand and there’s always going to be a role for you, since they are hired by any business that employs people.
Finance
If you want to get into a career where your skills and knowledge are always going to be needed no matter what, a finance MBA might be a good option to consider. If you are good with numbers and enjoy getting into the finer financial details of a business, this might be the best choice of MBA to take your career to the next level.
Over the past few years, the finance industry is one that has enjoyed more consistency compared to others – in fact, it has only been improved by the various advancements in technology, which has led to finance professionals having more tools and resources available them. Working in finance provides generous salaries, high demand, and the chance to work in companies across all industries.
Entrepreneurship
Perhaps the main reason why you are considering getting an MBA is because you have an entrepreneurial spirit and can only see yourself starting your own business in the future rather than working for somebody else. If this sounds like you, then you are likely going to enjoy an MBA with a concentration in entrepreneurship.
This program is designed to prepare you for running your own business with a higher focus placed on the responsibilities of a business owner and the skills that you are going to need to be successful. Since nine out of ten small businesses and startups fail in the first year of business, getting an MBA in entrepreneurship can be an ideal way to mitigate this risk and future-proof yourself as a business owner.
Marketing
Marketing has always been one of the most important aspects of running a business – without the marketing department, it would be difficult for any company to spread the word about what they offer and build their customer base. Without good marketing strategies, companies would be left unable to reach out to their target audience and generate an interest in their brand and products or services.
Despite the fact that marketing is a highly evolving industry that has changed drastically in the past few years and is set to change even further in the future, good marketing professionals are always going to be in demand no matter the industry.
One of the biggest advantages to getting your MBA in marketing is that it will provide you the opportunity to start working in a career that is fast-paced and quickly changing, making it perfect for anybody who wants to pursue a career with plenty of challenges and opportunities to learn something new.
Digital Marketing
A sub-set of marketing, digital marketing is another area that you can focus on when getting your MBA. These days, online and digital marketing is the top way that companies reach out to and build relationships with their target audiences and getting an MBA qualification in this area will position you to start a lucrative career in this area.
More and more companies are in need of trained and knowledgeable digital marketing professionals who can take their online presence and advertising efforts to the next level. This is a steadily growing field with lots of opportunities for earning a generous salary and plenty of demand in different industries.
Careers for MBA Graduates
Getting an MBA will present opportunities to work in a wide range of business careers, including:
Management Consultant
Management consultants are hired to be the best problem-solvers in the world of business. An MBA provides you with the foundation that you need to work in this position successfully with a solid and in-depth understanding of the finer details of an organization and how they all work together.
Business Analyst
An MBA with a concentration in business intelligence or business analytics can be an ideal qualification for getting into this role, where you will need a solid understanding of data and how it is used as a key analytical tool for getting a clearer picture of the business’s changing needs.
Finance Manager
Financial services and corporate finance are popular role choices among MBA graduates. Both offer fast-paced career paths with generous salaries. If you are looking for a full-on role that offers a high sense of accomplishment and reward, this might be a good role for you.
Product Manager
With tech and tech professionals dominating the world more and more, this role is a popular option for MBA graduates who have a tech background and are interested in moving into a more senior position. A product manager is required to have a combination of both managerial and technical skills, which getting an MBA can provide.
Marketing Manager
There are lots of marketing role opportunities for MBA graduates. This might be the ideal career for you if you are creative and have excellent critical thinking skills, along with a desire to work in a role that is challenging and subject to a lot of change.
The Many Benefits of an MBA for YOU!
There are many reasons why getting an MBA might be for you. If you have reached a point where you feel that something more is needed to take your business career to the next level, an MBA can be one of the best ways to hit your goals.
