Category: Life

Many have heard the acronym MBA and know that it has something to do with business education. Some may even decipher and say that an MBA is a Master of Business Administration. But few people know how these three letters can change one’s life and make a person happier. This article will help you understand this topic better, and most importantly, answer an important question: “Do you need an MBA degree?”

The MBA, as an educational stage, has existed for over 100 years (the first MBA program was founded at Harvard in 1908). During this time, MBA education has become not only popular but also a prestigious indicator of knowledge.

An MBA Degree Increases Your Chances of Getting the Desired Position

At college, we get a profession. We are taught to be good accountants, marketers, doctors, that is, competent specialists. However, when a person becomes a leader, he/she realizes that now his/her main task is to manage the team. He/she must be able to organize the work of subordinates, motivate them to achieve a result, resolve conflicts in time, effectively allocate time and achieve goals with minimal costs. The MBA program is designed to teach executives everything they need to know and be able to do successfully and to help them avoid mistakes.

Business school graduates are more likely to get jobs, enjoy life more often, and move up the career ladder faster. The world experiences prove the importance of the MBA diploma for further employment. Evaluate for yourself the power of such education.

• Adds value to your resume

An MBA is a qualification awarded to a manager following his/her studies at a business school. It confirms that its owner has all the necessary skills and knowledge to successfully cope with the functions of a leader. Your resume will include information about studying at Harvard, INSEAD, or some other prestigious business schools. These names have become a sign of quality for candidates, and the employer will more confidently invite a graduate of a top business school to a responsible position. But, of course, it’s not just the line with the name of the top educational institution.

•  Provides the necessary theoretical and practical knowledge

For a year or two of study (depending on the chosen business school), you gain deep theoretical knowledge in your chosen field, practical skills after internships in international companies, and work on practical cases with fellow students. The MBA helps you achieve two important goals:

1. Develop all the necessary managerial skills (an ability to set goals, make the correct decisions, manage time effectively, etc.);
2. Have a clear understanding of all the company’s business processes. After the MBA graduation, the leader will be able to make decisions that will be beneficial to the company.
3.  Promises a lot of important acquaintances

Business school students have tremendous networking opportunities:

1. Close communication with fellow students (future top managers of companies from all over the world) and professors (practitioners with significant experience in the field taught).
2. Full-time MBA students have many opportunities to meet potential employers through internships that are included in the program of almost all top MBA programs.
3. Business school students and alumni gain access to an ever-growing network of MBA alumni (professionals with key positions in well-known companies).

All these acquaintances more than once help graduates in their careers, providing quick access to relevant information from the business community and providing the best opportunities for career and professional growth. By the way, many MBA graduates consider this advantage to be the most significant.

• Facilitates job search

Business school graduates don’t just get more interesting and prestigious top positions. They also receive them with a greater guarantee. More than 90% of graduates of a top business school receive an offer within 3 months after graduation (despite the fact that about 4% of MBA diploma holders prefer to start their own business).

• Guarantees a high salary

On average, the salary of MBA graduates rises by 30-40% compared to the salary level before entering the MBA. The salary of an MBA graduate can grow significantly. The growth rate of wages depends on many factors: from what position the graduate went to a business school, what experience he/she already has, in what state the country’s economy is.

•  Opens up job opportunities in many areas

MBA graduates find jobs in various fields. Traditionally, the most attractive sectors for graduates from Europe are consulting and the service sector. Executives with MBA degrees perform better and achieve greater results for the companies in which they work.

Also, new knowledge will be useful to people who graduated not from an economics, but from a technical or humanitarian faculty. For teachers, scientists, military personnel, doctors, MBA is a way to get into business and supplement their professional knowledge with business skills.

The development of the modern world requires the development of a new paradigm of human behavior. Based on this, Uadates indicate that it is necessary to think and act on a large scale, to make more informed systemic decisions focused on human aspects of consciousness. On the agenda are algorithms of the behavior of people who become subjects of management, responsible for everything that happens around, while forming a new type of organization of human life.

One of the innovative constructive ideas, the implementation of which helps companies to succeed, is networking. Networking is a fairly new phenomenon that requires scientific and practical support, so it can have serious prospects for development in today’s business environment, based on building relationships on an informal basis, trust, adherence to high ethics. Networking requires patience, it can be learned, but you will need a plan of action and clearly defined goals.

Networking Definition

The word ‘networking’ has two main meanings:

1. A team of interconnected people;
2. Interaction with other people for sharing useful information and expanding social and professional contacts.

A person who uses the network of social and professional contacts for developing own career is called a networker. The study of the semantics of the term ‘networking’ allows highlighting its key points: the implementation of ideas, making an effort, availability of obligations, the application of own network of contacts.

Thus, the holistic concept of networking can look like this: it is a professional and social activity aimed at using a circle of friends and acquaintances to quickly and efficiently solve complex life problems and business issues. Moreover, the essence of networking consists in creating trust and long-term relationships with people, as well as establishing mutual assistance.

How to Involve People in Networking?

You can use a number of strategies in order to engage people in networking:

• Trainings. In such trainings, the most important thing is to find out what connections people already have, to motivate them to expand the network, to teach them to do it tactfully and systematically;
• Books. There is a lot of useful literature on networking. It is worth selecting it for the corporate library and advising to read;
• Individual approach. Not everyone has the ability to easily establish contacts. However, it is important to value everyone and help those who have problems;
• Social networks. There are social networks that focus on expanding business contacts. Thus, it becomes easier to find the necessary specialist – a doctor, mechanic, cook, etc.;
• Parties. Corporate parties are not only an opportunity to have a good rest. Dating in an informal setting can also be considered as networking.

Writing a Networking Follow Up Email as an Effective Step in Making Business Contacts

The first step in making contact is often done by email. Modern people are quite busy, so it is not easy to attract the attention of someone who does not know you. Therefore, it is important to make strong arguments. This will increase the chance that your networking follow up email will be read to the end.

The email itself should be short and clear. It should include a brief description of the sender, his background, and an explanation of what is expected of the recipient. At the end of the follow up e-mail, the sender’s contact information is indicated, and gratitude is expressed to the reader for the time spent and attention paid.

When you create a contact via email, you do not have to ask for a job. Do not attach your resume to your first letter. You can describe your training succinctly and arrange a face-to-face meeting for a more detailed conversation and resume.

Pay attention that if you want to make the contact more personal, then you can call the recipient following the sent email. If you intend to do so, you should write in an e-mail that you would like to contact the recipient by phone at a certain time. The phone conversation should be short and clear, indicate your specific goals, and useful information about the target industry.

Thus, if you are involved in networking, use emails to make new contacts. Follow our tips for writing a networking email and you will definitely succeed in putting together an excellent team of specialists!