Ever had the intention to be the next Warren Buffet or Li Ka-Shing, hoping that an MBA will be able to bring you to that level? Ever had the ambition of bringing the best practice from the private sector into the public sector and have a more commercial approach, by going through an MBA program? Think again. Most MBA programs you can now find are not keeping in pace with the rapid change in the global business landscape and does not necessary equip students with the right skill set to manage effectively today, let alone tomorrow.
MBA – Father of Management
Father of Management, Dr H.Mintzberg first pointed this out 25 years ago, but not many business schools were willing to take active steps to change since most were comfortable with the status quos. Perhaps it was also due to the fact that no one could quite see what was wrong with the fact that traditional MBA programs produce “managers who are excessively analytical and detached”. After all, we are all rational beings, making rational decisions which are then communicated down the line of command. So where is the problem?
Ever Changing Business Landscape
In the past, a job was for life, career depends on substantial experience and specialized skills, on time served on “working the hierarchy”. Communication was one way, and there was a strong sense of right or wrong as the organization was internally focused. That was the world when MBA was developed.
That world no longer exists. If you are someone in your mid-30s to 40s, you could have switched between 5-10 over jobs. Many people are now working out of offices, or leave big organizations for independent careers through networking. It is now less about what we know, but more about where and how we apply the knowledge.
In today business world, there is never a standard set of knowledge that can be applied throughout; change is the only constant, is not lack of information but information overloa. To operate in such rapidly evolving environment we need adaptable skills which include situational leadership and entrepreneurship skills that strengthen decision-making process in uncertain and ambiguous circumstances.
MBA for Future Leaders
MBA today requires knowledge on business models, translation between private and public sectors, innovation, design thinking on complexity, understanding and embracing diversity, interpersonal skills and teamwork. On top of that, studying at a university that is internationally accredited, multinational, and offer a diverse environment is important to so as to develop an international network and to experience different elements influencing the world of commercial and political issues.
MBA Network – Doors to Success
Networking is another essential factor for the business world today. Many entrepreneurs have realized that alumni network comes in handy, as having a good business leads in the beginning are the key to survival for startups. Many people have never imagined becoming a business owner, especially in the Asian context. But MBA programs that provide an entrepreneurship environment encourage enthusiasm that it is a possible path. At the end, even if all else failed, you can still return to the private sector.Â
Having these important components for the MBA tailored for today and tomorrow does not mean that the traditional business skills have became redundant. Only those whom demonstrate the necessary range of leadership and entrepreneurship skills as well as traditional skills will find followers. At the heart of all these, an integrative blend of systemic thinking, emotional intelligence, self-awareness and a deep commitment business ethics will form the bedrock of the next generation business leaders.
American MBA leading the way
This is one reason why American MBA which focus on case studies, leadership development and entrepreneurial thinking are in such high demand, these includes MBA from the State University of New York ; Chicago Booth Business School , University of Louisville , California state university and City University of New York; all of which offers executive MBA and Professional MBAÂ program in Singapore.
Author: Mr Kent He, APM, Aventis School of Management which is Singapore’s Largest US MBA Centre offering MBA programs from 4 Top US Universities.
References
- PROFILE- MBA programmes boost public sector careers – http://www.publicservice.co.uk/article
- Traditional MBA skill set is no longer enough By Bettina von Stamm
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