Archive for November, 2010

MBA Interview

When applying for MBA programs, one of the most important parts of the selection process is the interview. Interviewers like to see traits of good managers in interviewees. In addition, you will need to convince the interviewer that you will benefit from the MBA program and that you will be able to complete the program. This is not always as easy as it sounds.

Of course, the MBA program interview is also your chance to feel out the institution. To prepare yourself for this interview, make sure that you are aware of trends and recent events in the business and political world, but also have a list of questions about the program. For example, what ties do they have with local and regional businesses, and what is the style of learning they promote. The questions that you ask can be as important as the answers that you give, so you need to put some real thought into this process.

Springboard

There is a debate going on at the moment as to whether the business-world is over-saturated with MBAs. Whatever side you agree with, there is no doubt that just holding an MBA is not enough.

With so much talent to compete with today, you must prove you are capable of translating your education into action. Instead of simply quoting your experience in management, for instance, you need to reveal exceptional management skills. For example, if you can demonstrate extraordinary abilities in running projects more smoothly, as learned from an MBA in Project Management, you should shine.

Still, most often you will have to prove your skills in middle management jobs before you get the opportunity to take the title. However, if you are determined enough, you might be able to use your MBA degree as the springboard into the senior management position that you really want.

Thoughts for the Future

November and December are really difficult months. Two big holidays, so close together, and yet still work to be done. I always find that I can’t settle down to anything really; but it is a good time to tidy life up, and to lay down plans for the future (especially once the holiday season passes).

If you’ve been thinking about studying for an MBA, January is a good time to start preparing for your GMAT and researching business schools. Of course, this will give you an idea of what you need in the way of GMAT scores, and will also allow you to work out whether you want to study an online MBA or attend a campus-based program.

You’ll find that you have a lot of choices to make when you look at the different MBAs available, so you really do need to put aside some time. You’ll need to decide what you want to study and how you’ll develop your career once you’re done.  This is the perfect time of year to put time and effort into this.

Applied MBA

I’ve lately gotten to know a very interesting person who is a telecoms engineer. His educational background makes him unique and knowledgeable: he has a Masters in Electronic Engineering and an MBA degree. His current job mostly entails managing telecoms project for large corporations.

Upon spending time with him this week, we talked about why his MBA was vital to his job. He said that it had informed him of his clients’ work and preoccupations, allowing him to better understand how they worked and what their priorities were.

This means that in addition to creating telecoms solutions that fit their needs, he can help out when installation and support become issues, thus reducing disruption and allowing him to take account of workflow.

He actually maintains that he could hardly do his job without this knowledge, and his MBA delivered it in a form that is useful for most situations he encounters.

Executive MBA

I always wondered what the difference was between an executive MBA and a normal MBA, so I did some research. I learned that it was more than the format of the program. The biggest difference is in the backgrounds and experience of people who are accepted into the program.

Mostly, executive MBA courses accept older students who have worked in middle-management positions and above for several years. The courses typically involve:

• Encouraging students to work on their own projects.
• Supporting students with real situations that will have a bearing on their working lives.
• Helping current business people to make useful contacts.
• Encouraging those who want to begin their own companies to do so.

So if you’re just starting out in the business world, an executive MBA will likely not be for you. But if you have some experience and you’re ready to go to the next level, or to improve your work skills, it could be an ideal choice.

Teamwork

The Chief Executive of my organization has just finished her online MBA. I had a long talk with her about what difference she felt it had made to her work. She was adamant that the biggest difference it made for her was the way in which she organized her work. Before the MBA, she would tackle her to-do list all on her own, all at once. She has learned to be more productive.

Since earning her MBA degree, as tasks come in, first she diverts what she can to senior management. She says that if she has to consider tasks more than once, she is wasting her time. Her clear-desk policy is real, and at the end of the day whatever tasks she needs to do herself are scheduled in her daily planner, and she does not consider them until the scheduled time.

She says that this policy gives her time to do real work. She regards her team as a part of her workforce, and so each task is handled by the person who is best in that area of work. She says that without earning her MBA, she would not have reached such an understanding, and would not have realized the value of individual people who have real knowledge in their areas of expertise.

Vital GMAT

GMAT scores are key to acceptance in your chosen business school; therefore, many people dedicate a lot of time preparing for it. You can take many tries at the GMAT, so don’t fret if your first score did not turn out the way you like: you can work to improve your score.

Doing well on the GMAT essentially requires good literacy and numeracy abilities, as well as strong studying habits and research skills. There are numerous organizations that specialize in helping you to improve your ability in these areas, and some specifically aim to increase GMAT scores. You can spend a lot of money doing this, or you can simply work carefully over a period of time to improve your skills (and your GMAT score).

Whatever you commit to preparing for the test, it should time well spent: remember, your GMAT scores will be central to acceptance into MBA programs.

A Balanced Life

Studying online is a big commitment, making it difficult to find a good balance of work, study, home, and leisure. Signing up for an online MBA means a relatively long-term commitment: you need to make sure you’ll be able to stick with it for at least a couple of years.

Your online university or business school can help you figure out good time management; still, you’ll need self-discipline to make it all work. If you can commit, you’ll realize a great benefits of pursuing an online MBA, which include:

• working around your current schedule;
• learning theories that are useful in your everyday work;
• using the practical projects and exercises of your studies directly in your current job;
• potentially improving salary and job title once you finish your degree.

But to maximize these benefits you will need to organize a realistic work-study-life plan to keep it all together. Create a schedule in a daily planner. Stick with it. And realize your life will be freer and potentially more rewarding once it’s finished.

MBA Transfer

My experience with the joint MBA program (which involves two cultures) has reminded me how much education both affects and is affected by the culture in which it exists. MBA programs began in the U.S. as a way to evolve the industry from production-based to marketing-based. Before this transformation, engineers, and then finance professionals, ran businesses. With the advent of the MBA, those with general business educations began to take the helm.

Today MBAs are offered all over the world, but the U.S. is considered the pioneer of the program. This is not only because MBAs began in the U.S., but also because American culture perfectly embraces what MBAs stand for: self-reliance, ambition, and opportunities for all.

But even as MBAs continue to spread worldwide, it is extremely difficult to transfer an MBA program from one country to another. In order to further evolve toward better global commercial development, these difficulties must be addressed. If not, joint MBA programs, for one, become meaningless.

Is A Distance Learning MBA Program for You?

How many people can afford to take two or three years off from work to pursue an MBA degree? Not many. Thankfully, online MBA degree programs are widely available, which means you can get your degree without having to leave your current job. In addition to the benefit of flexibility, remaining in your job means you won’t break contact with potentially important professional contacts once you finish your degree.

Online MBA options include correspondence courses and virtual classrooms. Many students choose distance learning because of the flexibility it offers; but some want the social components found in classroom-based programs. “Hybrid” MBA degree programs offer a middle ground, in which online courses are combined with face-to-face workshops and meetings between students and staff. If your schedule has some flexibility, and you desire some in-person contact with others in the program, hybrid programs might be ideal for you.

Whether you want to study online, in a classroom, or through a hybrid program, it’s important for you to do your homework before you sign up for any school. Most importantly:

• Make sure the school you choose is accredited. This means the program is up-to-par with U.S. Department of Education standards for higher education, and will better assure your credits will transfer to another program if needed.
• Check out the school’s course/specialization offerings. Especially if you would like to specialize in a specific MBA field, such as Accounting, you want to make sure the school has what you’ll need.