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January 22, 2005
Do we need MBAs?
I always wonder about the emphasis that people put on the achievement of degrees or especially MBAs. Why? Is it because when you complete your MBA, you have a title and understand the world better?
Even the blue-est of the blue consulting firms, McKinsey started to look for other disciplines, outside of MBAs. "McKinsey hires outside their traditional domain. It is stated that in 1993, 61% of McKinsey 's hires had MBA degrees and that around now this ratio is down to 43%. They state that McKinsey says other disciplines are just as valuable in helping new hires perform well at the firm" (Harvard Business Review, February 2004).
Well, may be there is some truth in it and that is why there are even books written about the failure of MBAs. It always seems to me that MBAs have a blockbox thinking, as I call it. That they see the world in a frame that no longer exists - that they put the world into formulas without really thinking of what is going on in the marketplace and the "realtime" consumer. In this sense, I agree with the discussion that is ongoing on Tom Peters' blog.
But may be as well, a MBA becomes the entry ticket into the business world, while the discipline that someone takes besides the MBA makes one stand out. Or, alternatively, that someone needs to work first before the journey to obtain a MBA should be taken - I heard that this is the way how an MBA in India is done - that Indians first work, before they go for an MBA.
But in the end, it is the mindset that counts and what else do you bring to the table. How you do your work, how much passion you put into your career and the contribution and value added that you provide to a team (and I purposely don't say company).
I worked on a project, way back High School and interviewed a CEO about their recruitment practices. He told me and my friend the following. He said that he rather hires someone with Bs or Cs who worked besides the studies (a common practice in Germany) than someone with straight As. Why? Because the one who worked knows how to adjust in a business environment. He or she knows that there is not always a right or wrong, but also a may be. The one with the As might be arrogant, and only believes in his or her own opinion. Messes up the corporate culture, so to speak. However, this might be a single, individual case - how many companies are there that believe that they don't need MBAs?
What brings me back to the original statement - may be there is the additional discipline that someone needs aside of an MBA to stand out from the crowd.
What do you think?
Posted by Andreas at January 22, 2005 05:30 PM
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Comments
My opinion here is on behalf of all the fresh grads out there. Eventhough I'm no more a fresh grad and I have working experience. Ok, I'm doing my MSc. at this moment and going to complete it soon, at the end of this year (with God's will). Well, I should say that it seems like MBA and MSc is a must almost to the fresh grads, who couldn't find/get a job. One of the way out is furthering study and most probably will end up being a lecturer. Even for Malaysian students who study abroad, they do have this choice in their list: What I'm Gonna Do When I Go Back To Malaysia?
After all, I do agree that MBA/MSc. might be doesn't make sense for those who has built their career excellently. It's also true that excellent students don't know how to work. That's typical universities students. They are excellent in theorytecal, but fail in practical.
Posted by: Hana Kirana at January 26, 2005 03:53 PM
Looks like MBAs are going down the same road as law degrees, .. a dime a dozen, but whether paper qualification translates into actual qualification remains to be seen. What's the big fudging deal, if you ask me. But I take my hat off to all those that do embark on it. I just won't bother myself. :)
Posted by: Blabarella at January 24, 2005 09:55 PM
i spoke to some EQ specialists before and they told me, to succeed in life, one needs a high EQ, because EQs help people to adjust themselves into the world.
(btw, i'm doing my master in linguistics :P and i'm planning to do a doctrate in the same field as well in the near future hehe)
Posted by: dave at January 24, 2005 05:04 PM
I dont have one too and I'm not planning to have one and I feel good about it :)
Posted by: hazel at January 24, 2005 11:59 AM
Well to me, MBAs are just papers.
Posted by: atiza at January 24, 2005 11:17 AM
MBAs are a qualification that gives busy recruiters usually a good indication that the person is qualified at least to a certain degree. Nearly all MBAs I've seen these days require at least a few years working experience for admission so I guess it could be presumed the person has at least some experience, thought whether it is relevent or not is another matter.
True, MBAs may not reflect a person's personality, behaviour or common sense, but it means that the person has been exposed to and understands at least some amount of management principles. Behaviour and personality I think would be more difficult to teach, test and put down as a paper qualification because different jobs require different levels of that. Well, just my personal opinions there.
Posted by: chasyss at January 23, 2005 03:13 AM
Common sense is just as important. I don't have an MBA but it got me through a fairly good career in the last twenty odd years and am now still depending on it to run my home :)
Posted by: bkworm at January 22, 2005 09:34 PM
What a coincidence?!? I was talking to my brother-in-law who shares a similar opinion like you.
According to him, business is like cooking. If you cook something according to book, you'll get what the book have mentioned. But great chef world wide don't follow books.
Peace out!!!
Posted by: Peace Out at January 22, 2005 05:55 PM