MBA Week: The qualification valued by business
IN the fourth of our week of features in association with Leeds Business School, TheBusinessDesk.com looks at how MBAs are viewed by business.
THE idea of gaining new skills to improve employment prospects and add value to the company you work for will be an appealing one to many aspiring senior managers, particularly at a time when competition for roles is tougher than it has been for many years.
But the key question for any individual considering devoting time and money to studying a Master of Business Administration rather than another qualification is the extent to which their efforts will be recognised and rewarded by the business world.
Keith Loudon is senior partner at Yorkshire stockbroker Redmayne-Bentley and has seen how the reputation of the MBA in British business has grown.
“I think the MBA is a very highly thought of qualifiation and is seen as of much higher value than others of its type,” he said.
“It is a practical qualification for advancement in management and has been very well thought of for a long time in the US where many top people have got them and it has come to prominence in this country in recent years.”
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Amid the wealth of vocational and academic qualifications now available, the MBA has maintained its reputation for marking out those capable of taking leading positions within an organisation,
“Firms look at people with MBAs and they know they have got someone with a first degree who has also got experience of the real world and has taken the next step that means they are ready for the higher positions in their industry or profession.
“To be successful you want people with practical knowledge but you also want theoretical understanding and it is that additional theory that you gain from the MBA that you can bring to your business.”
While businesses put a high value on the skills learned through MBA study, one of the main values of the course is the chance to meet and exchange ideas with people from other sectors and business backgrounds.
“The old saying is that its not what you know its who you know but its actually a combination of the two,” said Mr Loudon.
“The MBA brings tremendous network opportunities to network with your peer group, to build connections with people that will be useful when you are back at your business and you’re facing a problem.”
Mr Loudon also points to the growing number of senior figures with first and masters degrees as a sign that qualifications such as the MBA will only grow in stature in the years to come.
Leeds Business School offers MBAs on a full-time basis and Executive MBAs on a part and full-time basis.
Find the Leeds Business School prospectus at http://www.leedsmet.ac.uk/study/postgraduate.htm.
