Today’s MBA, with its focus on strategic thinking, analysis, and global markets, answers the call of business for relevance in management education. Increasingly, graduates throughout Europe with technical and liberal arts degrees or traditional professional qualifications are making the transition into general management. The MBA, with its focus on decision-making and analysis, is a natural stepping-stone for those who want to make this move and build on a first degree.
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The global nature of modern business has sharpened the need for professionalism in management, and business schools offer MBA programmes that reflect this reality. Organizations and their staff are also aware rcs data that narrow professional qualifications or functional skills are not enough for success in a business environment. An MBA is helpful when there is a need to take an integrated - and increasingly global - view of how decisions in one discipline may affect others.
For most people, MBAs are about upward mobility. Some MBA graduates remain with their present employer, but others see the qualification as a passport to move between companies, business functions and industries.
There is now a strong demand from business for relevance, and emphasis is being placed on practice rather than theory, with more integration between separate business disciplines, together with a heavy accent on ‘soft skills’ such as teamwork and leadership. There is greater emphasis on group work, replicating what really happens in the commercial world, and on in-company projects and internships. Many schools are now offering courses on presentation and communication skills, teaching the ethical aspects of management.
A 1997 salary survey from the Association of MBAs1 shows that MBAs are represented in a wide range of industry sectors. However, they are particularly concentrated in the consultancy sector and, to a lesser extent, in finance. Together, these two sectors account for more than 25% of respondents in the survey sample. Within industry, MBAs are concentrated in specific functions, the biggest (38%) being in general management, suggesting that the system of MBA education continues to be successful in equipping its graduates for an effective role in business management. A further 15% are employed in both corporate strategy and planning.