How to select a good MBA programme and its benefits to graduates
View(s):I get a lot of aspiring MBA candidates asking me the following question: “How do I select a good MBA programme?” However, but before candidates can even ask me that question, what I ask them is: “Why do you want an MBA and what schools are you applying to?”
MBA programmes were created in the 1920s because large corporations felt that new employees lacked general management skills and
as a result, many talented recruits had to be taught on the job the basics of business such as accounting, finance, market research, etc.
Before seeking the actual benefits of an MBA programme it is of paramount importance that students learn to select a good MBA. How can a prospective student know what a good MBA programme is? While there are so many factors that need to be considered, Mr. Dhanushka Kulathilaka one of the country’s most respected post graduate business consultants talks about some unorthodox methods of short listing your MBA options and how MBA graduates should apply their post graduation MBA knowledge.
Unorthodox but effective techniques of selecting a good MBA programme
The price that a student pays for his or her MBA needs to be looked at very subjectively. “One thing is for sure the cheapest MBA is the worst choice that you can make” says Dhanushka. Opting for an MBA is an Investment for life. A good MBA programme involves the correct class room facilities, the right kind of faculty, accesses to library facilities both online, in campus and off campus and in the case of foreign MBA programmes the royalty paid to the awarding body. “A good foreign MBA programme offered in Sri Lanka is never cheap,” and after an extensive research conducted by Dhanushka, he feels that based on all the foreign MBA’s offered in the country a good MBA will range anywhere between Rs.500,000 – Rs.1.3million.
Another unorthodox but effective factor that needs to be considered is, for how long a foreign MBA programme has been in existence in the country. The longer an MBA has been in existence it automatically states that the program has gained recognition and acceptance within the country and there have been a sufficient number of MBA graduates, automatically making your MBA investment a safer one.
Post graduation benefits
Completing a good MBA programme is a challenging undertaking, but what comes after? What skills are particularly useful to the MBA student, the MBA graduate and the MBA professional? And how can you best apply and transfer the knowledge acquired during this rigorous academic program?
These questions should be at the core of every prospective MBA student’s consideration to ensure whether they will benefit from a particular MBA or not. Mr. Dhanushka Kulathilaka Sri Lanka’s most sought after post graduate business consultant believes MBA programmes should be designed to ensure every aspect of the knowledge acquired is employable. “Critical to achieving this goal is selecting participants whose experience, skills and goals fit the programme’s design. Well-designed MBA programmes respect the experience that senior leaders bring to the programme as well as the time constraints they face when adding an MBA to their already busy schedules,” Dhanushka says.
Application of knowledge
The MBA is a comprehensive learning experience in which students have the possibility to apply knowledge within their immediate work environment as they learn new skills and methods. And it is in the application that the greatest value of an MBA lies. It is all well and good to have learned the theories of a host of new business practices, but without actively applying and implementing new skills, the learning process is incomplete.
Dhanushka also says the most important aspect of the MBA qualification is not the end of the journey. “They [MBA students] have learned tools and techniques, but implementation is the key,” he says. “This will determine how their career develops over the coming years.”
Long-term gain
Not all skills taught on an MBA programme will be practical and relevant straight away to the MBA student. At the beginning and during the program it is likely to be the hard skills (specific methods and techniques) that are most relevant to the student’s immediate working environment. These new methods and techniques are immediately available to be implemented in smaller projects or as part of day to day business practices. Dhanushka goes on to say, this is what MBA students tend to focus on most. “Students are often focused on direct, practical functional skills while still in the programme.” However, this focus changes over time.
Upon graduation, the expectations of the employer and colleagues of their MBA employee and workmate will have risen. By this stage, many MBA graduates have often been promoted to oversee more complex projects and areas in which greater levels of leadership skills are required. It is in this phase that a more comprehensive approach to implementing the skills and tools acquired come to bear. “After graduation, many of our students are promoted to run large organizational units, or start their own firms,” says Dhanushka. “Strategy, entrepreneurship and organizational design will be more important at this phase as they become responsible for an entire section of a firm.”
Professional progression
However, the relevance of the various aspects of knowledge acquired by the student during his or her MBA experience changes – it is generally the soft skills that prove most beneficial in the long run. Strategies and techniques for personal development, leadership and the management of personnel is what alumni value most, according to Dhanushka. “Alumni see the benefits of improving their ability to work with and lead people as they progress and move into more senior roles,” he says.
The skills, tools, techniques and knowledge acquired during an MBA are invaluable, but make even more of an impact on an MBA student’s career if they are continually applied throughout their professional lifetime. How and whether these skills are applied can make a tremendous difference on the path to greater career heights and should not be underestimated. Email your comments to: givemeyourcomments@gmail.com
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