Do You Really Need a Masters in Business Administration?

What is business administration?

It turns out business administration is a catchall phrase encompassing general business management. It is a bit more difficult to comprehend then say, engineering or finance, which are focused on a specific trade or professional discipline. The reason for this is the principles of management apply across many different kinds of enterprises and can’t be as easily defined. As a rule of thumb, management (business ministration) is not an entry level position, but instead is something obtained after several levels of promotion.

There are several ways to go about learning the principles of business administration. For most individuals on the job training is the method.

When most individuals think about business administration, they tend to focus in on what is commonly called an MBA or a Masters of Business Administration. Like all masters degrees, is an MBA a degree earned after a bachelors degree. Often, MBA students have also worked on the job for a considerable period of time. The MBA is considered a fast track towards a reaching the upper levels of the corporations. So, the students weigh the schooling against experience. Universities are under considerable pressure at the current time to justify the cost or the investment required to attain in the MBA. The question often asked is, “is the investment worth it?”

If you are going to get an MBA, you may as well get one from an elite school. Stanford University’s Business School fits that category. But, how do you get in? Take a look at this video for some excellent pointers.

Many colleges and universities also offer bachelors degrees in business administration. These students, while they may have a minor or two, are after a general business education which they believe will help them obtain a high-quality entry position in the company. This type of education is often even more difficult to justify. These students do not have any specific professional degree to fall back on. The quality of the school is vital is these cases.

The third and perhaps the most common way people get into management positions is by gaining experience within a company or companies. All professions have certain individuals that end up becoming managers. Over time, some are promoted into management. Depending upon the company or companies they work for, their training in management or business ministration could be extremely minimal or very excellent.

Historically those with an MBA certificate, particularly one from a large well-known business school, have been coveted. The thought was the better the school the more likely an individual would quickly find them selves in senior management positions in large highly successful business organizations. Theses degrees were hot commodities.

This thinking is becoming less and less likely to be so. Part of this reason is because many highly successful individuals, particularly in the technology industry, have not had any formal college education and all. Most of them like to be managed by individuals from their own background. Since it’s not very likely someone with out a bachelors degree is going to be able to obtain a MBA degree from a University, their have ended up learning their management profession through alternative means.

These alternatives can include classes taken in a classroom at night or an online training program technique or combinations. These alternatives have proven themselves to be at least as good as formal education from a college or university. This fact has placed even more pressure on traditional universities to modify or change dramatically the current way they train their students.

If you personally or someone you know is looking to become a senior manager, make certain you review the alternatives for learning business administration which exist beyond just traditional college education.

About The Author

Bill Prater

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