MBA Week: Studying for success during the downturn

IN the second of a week-long series in association with Leeds Business School, TheBusinessDesk.com assesses the value of MBAs for those who study them.

IN an age of increasing competition within the workplace, skills that can get employees ahead of their peers and towards the top are priceless.

And studying for an MBA, often used as a way of helping executives move ahead within their organisations by helping them to train for high profile management positions, is one of the best ways to get a head start.

According to Nick Beech, programme leader of the Executive MBA at the Faculty of Business and Law at Leeds Metropolitan University, it is often getting past middle management that can present the biggest obstacle for would be business chiefs wanting to climb the career ladder.

“If you don’t go for the MBA you’re never going to bypass middle management,” says Mr Beech. “The MBA allows you to leapfrog over them.”

As well as career progression, renumeration is a key issue.

The Association of MBAs, an impartial authority on postgraduate management education, found the average MBA salary is £66,500 in a recent survey of its members.

However, a salary increase is by no means the most popular reason for choosing to study an MBA, with the Association of MBAs finding 79% of its members studying for an MBA to increase job opportunities.

Networking with senior business figures across the globe is also cited as a major factor in enrolling on the course.

“An MBA gives you a taste of everything there is unlike other business or management qualifications,” says Mr Beech.

“You can then apply it to your business. With an MBA it means you can take a holistic perspective into organisations.

“The traditional view of British management is that it’s very blinkard.”

The core courses in an MBA program are designed to introduce students to different areas of business such as accounting, marketing and human resources.

Mr Beech says one advantage of an MBA graduate going back in to their business is the new skills they will have learnt which they can apply to areas of their organisation which they may have known little about previously.

“For example a production manager will know a lot about production but not marketing before embarking on an MBA,” he says.

But having completed the MBA, the graduate will at least be able to cast a fresh eye on the company’s marketing strategy and, although their points may not be adopted, they will at least bring something new to the table.

“As an effective leader you’ve got to be able to understand the organisation you work in,” he adds

Mr Beech cites Plcs as examples of often complex organisations, made up of various subsidiaries, which can benefit from the expertise of an MBA graduate who can spot ways to make the company work more efficiently and effectively.

And if that means shaving money off the bottom line, then investment in the employee’s studies will be money well spent.

“MBAs have been going for the last 100 years and they’re still a very strong product. It really is the pièce de résistance of business study.

“The MBA gives you strong leadership skills and allows you to be able to adapt your leadership skills to different sectors. It’s all about being able to put different heads on.”

For further information on studying for an MBA or Executive MBA at Leeds Business School, visit http://www.leedsmet.ac.uk/lbs/cde/programmes/index.htm.