Why The MBA Is Relevant In Almost Every Business Area
Many people enquire about the Master of Business Administration (MBA) wondering if it is the right degree for them. The fact of the matter is, the MBA is relevant to almost every business area. Offering students the option of a generic MBA – one which considers all facets of business, as well as the ability to specialise. It really is an extraordinarily relevant degree to obtain in today’s fast paced business world. If you’re wondering what is covered in the MBA, and who it is relevant for, then read below for more information.
As a degree which gives students a broad overview of business, the MBA covers topics such as leadership, strategic management, marketing, corporate governance, strategic operations issues, finance issues and human resource management. Upon graduation, students regularly express the profound increase in knowledge that they have gained. Andrew Werner, ARFF Training Delivery Manager at Airservices Australia built on this in saying “The MBA has given me a more holistic overview of things like human resources and finance, outside of the scope of what I knew”. With such a large body of content covered, graduates are able to broaden their roles and move in new directions.
With specialisations including Entrepreneurial Management, Tourism and Hospitality Management, Finance, Human Resource Management and Logistics and Supply Chain Management, the MBA is relevant to all facets of business. When MBA’s are taught in models such as the work-applied learning model, students are able to instantaneously apply what they have learnt to their role. Students range from small business owners, to established leaders in a number of industries. From accountants to legal workers – the MBA is relevant to almost everyone.
Regardless of which stage of your career you are at, the MBA will be of benefit to you. The most common groups of people who undertake the MBA include entrepreneurs, those wanting to progress in their career, and already established professionals looking for a qualification. Those from a more technical background such as engineering, IT or medicine also find the MBA to be a useful step in understanding broader business concepts. The majority of these people have been in their field for some time, and use the MBA to move away from being so technical, and into a more business orientated role.
Overall, no matter what your background is, the MBA has proven to be a wonderful asset in all facets of business. From finance to human resource management – the MBA provides students with an overall business understanding, and is therefore of relevance to almost every business area.
This article was written by Laura Hutton on behalf of the Australian Institute of Business. All opinions are that of the writer and do not necessarily reflect the opinion of AIB.