8/6/2019 MBA - To Do or Not to Do - Management Jan - Mar 2006

1/2

MANAGEMENTEDUGATION7odoorof

nottodo?Twentyeansgo, nly handfulfMBA nognammesene ffenednthecountny.oday,alaysiansnespoi l tp0rltoncnotces sc0nesIpostgnaduateusinessegnees,fonchoicelocal ndntennational,owil l hemarketplace,s hisa positiveneflectionfoun ibnantducationscenanion nsteadtniggeno anominousall on aveat mptor?DnAndyWoooffens omeood onthoughto those t theMBA-noMBA nossroads.-l \ fl-any mid-level execuLives ndlVlxn:: :'Jffi:,1[:'j'^?l,degree in the hope of cashing in on theopportunities offered by improved iobmarker condirions in dris regron.Although the popuiat myth that gettingan MBA translates into assured careeradvancement still lingers, there ate actualinstances when executives have excelledin their otganisations, thanks to theirMBAs. For many others, an MBAenhances theit knowledge and skills asthey weather job layoffs during aneconomic downturn, or as they undergo atransition to another company, industtyor entirely different path of life.Butcanhedegreeeallydeliver?

Personally, I wouid say that the answeris yes - if executives have realisticexpectations and are prepated to take thetght steps to help themselves. Flowever,one thing is certain; they cannot expect to

immediately get a new Position themoment they complete the programme orare conferred the degree.

The MBA has traditionah been adegree for students who wish to remainat their workplace but move up 2 rung ortwo to the executive level, for instanceoperations managefs aiming for a shot atbeing General Managers. However, it isnot uncommon to find many candidatesnow who apply for MBA courses in thehope of switching companies or careers.with others who start expioring changesafter scenting new'pastures from theitcoursework or from mingling with theirhigh-achieving classmates.

W1hileour economy is officially out ofrecession with a healthy GDP growth, theoudook for more senior managementjobs temains grim, especially for positionsin upper management, which becausethey are more special,ised, ake ionget tofill. And companies can affotd to bepicky; many students keen to make acareet change often lose out to candidateswith more direcrJy elevant experience.

New MBA holders are particularly hardhit because, upon completion of theirMBAs, their expectations are highespecially if they have made greatsacrifices or toiled through a vigorousprogramme of wodd-class standhg. Butall these hooes can be shattered tn ahalf-hour interview; it is how one performs atthe interview rhat mattersmost in manyinstances. The reality of the fact is thatthe MBA can only help to substantiatethe candidate's knowledge and experienceup to a certain extent.

Sowhat's nMBA oodor?MBA graduates do have advantages.Firsdy, doing the course part time with afull time job requires a lot of self-discipline and sacrificesw-hich go a longway to demonstrate the true essenceofthe person. Secondlv. hey get to learnsome of the latest managemefltprinciples, techniques and practices in useby top-notched companies; and thirdly,they get to experiment on and learn from

Jan-Mar 006 | MANAGEMENT

8/6/2019 MBA - To Do or Not to Do - Management Jan - Mar 2006

2/2

practical case studies which provide someof the most priceless earning experiences.At the same time, those who pursuean MBA from repurable nstirurionswhich adhere to strict quality control interms of facilitators and student intakewill enjoy high returns on theirmvestment. Moreover, they get to build avaluable network with ciassmateswhobring with them exrensive vorkingexperience and who would most likelyhold senior management positions lztet, ifnot alreadr'.What ext?

Before deciding to embark on a costlytwo-year MBA course, here ate severalpracttcal guidelines to help ensure thatyou get the best out of it and that it canmeer your expectatrons:

Look before you leap. prospectivestudents should think about careerstrategies even befote they apply.AppJicants should take a close look at thestagewhere their career is at and howthey are progressing. Take a self-analysis,understand your own strengths andweaknesses,and ask yourself:I "What did I do ro get ro where I am?"I "\{/here do I seemyself in 3, 5 and 10years' time?"

Having decided whete you u/ant to goand what you u/ant to be, then formulatea petsonal vision and mission for yourselfand decide on what it will take for you toachieve those goals and objectives. It isoften helpful to discuss the above withyour family members and sometimes,close friends. A personal coach mighthelp tremendously albeit at a fee. Beingobjective and independent, a professionalcoach can candidly identify strengths andweaknesseswhich you may not haverealised yourseif.

If you find that a MBA is patt of thepte-requisite for you to get to where you\r/ant to go, then start searching for aprogramme and instirution that wiilprovide you the best ingredients to realiseyour vision. Not all MBAs are equal, soyou must be very careful in deciding onthe institution that offers it. A good

institution wili be abie to provide not onlya good curriculum supported by industry-experienced facilitators, but also high-calibred students who are of invaluabienetworking value. For example, there areMBAs offered by local insrirutionsconducted by full-time lecturers orprofessors who might have lost touchwith the indusry an d current pracrices.and tely solely on rextbook theories.Wotst still, you might find half the classfilled with forergn srudents who areunable to communicate well in English,and as a result, provide little or zeronetworking value. Hence, though pricemight be a considetation ln yourevaluation, it should not be the keycdterion.

Develop a plan. You should beginworking out a plan and putring it downon paper with the selection cntetia ar'dobjectivesspelt out. Understand what itwill take for you to reach them, and layout concfete steps you can take tocomplete the course and gain the mostout of it. Many students who jump intojust any programme often end updisappointed and not being able tocomplete it.

Exploit the network. \)rhile thecourse material you cover in an MBA isvaluable, the opportuflity to interact withothers in your class could be just asmportant to your career. Businesscontacts and networking are one of themost important aspectsof theprogramme. Just imagine, working with astudy group of students who are seniormanagers over a two-year period buildingconfidence, trust and comradeship thatotherwise cannot be obtained elsewhete.The terurns of the investment in bothmonetary terms and time for the MBAprogramme will be worth a hundred timesits original value if one phone call to a"fotmer classmate" sometime in thefuture can help you clinch an importantdeal or solve a critical ptoblem.

Today, employers are also swampedwith applicaLions or every posirionavailable and even those that ate not;

hence, personal inttoductions make it alot easiet to get interviews. This is whereclassmates can provide inside informationabout companies, industries or colleagues,gling you an edge ovet other applicants.Additionaliy, these classmatescan act asgood referees or you.

Don't expect magic. Srudentson agood MBA programme are oftendisappointed to find that it takes moreeffort and time than they had initiallyexpected. Let's face it - if an MBAprogramme is worth its reputation ofbeing an excellent one, thefl it wi,lldefinitely require a lot of hard work. Thehard work you invest will pay offimmeasurably in the long term as it willhelp to inculcate a selrse of quality and amentality of continuous learning.Therefore, be prepared for a iot of hardwork, intelligent intetaction and alongwith it - knowledge with fun.

Choose carefully" Selectan MBApfogramme that not only provides theacademic and theoretical knou4edge butalso the taining and facilitation ofleadership qualities and personaldevelopmenr. This is an imporranr aspecrof a well-rounded programme that willhelp you to become a better leader andenhance your "personal vaiue".

Thetefore, in conclusion, taking theMBA is definitely worth it. The questionnow 1snot so much whether you shouldtake an MBA, but rather which MBAprogramme you should take if you areambitious and desire to enrich yourcareer. Although a lot of carceropporrunities depend on the inherentquality of each candidate, having an MBA- regatdiess of the discipLine or areaofspecialisation - does provide a distinctadded advanrage o the execut.ive rmanager being considered for apromotion, new job application orconsulting contract. IDr Andy Woo s a General Council memberof the Malaysian Institute of Management.

Jan-Mar 006 I MANAGEMENT