MBA stands for Master of Business Administration. It is a post graduate degree in business administration. Now MBA has become a prestigious and respected degree all over the globe, which is attracting people from various academic disciplines. There is always an ever increasing demand for skilled mangers in any organization or any institution in today’s highly competitive world because only such skilled people can tackle the highly demanding situations that organizations faces in the era of liberalization and globalization. A successful manager should possess a fine blend of qualities such as decision making, conceptual, analytical and interpersonal skills, for making the best possible use for the available resources. MBA programmes are focusing on creating leaders and managers equipped with the above mentioned skills. An MBA curriculum has everything from finance to marketing to IT to psychology. This is because it is extremely important for a successful manager to be aware of the various dimensions of business such as operations, IT, finance, human resources, marketing etc. After successfully undergoing an MBA programme in a good business school, an ordinary graduate will undergo a metamorphosis that converts him to a capable manager or leader who will be able enough to solve many business related problems that can arise in the highly challenging corporate environment. Besides developing strong business acumen, it undoubtedly accelerates the career growth also. As the job market becomes tougher, an MBA degree enables one to differentiate oneself from the crowd.
Why MBA after Engineering
An MBA after engineering is a much sought-after option for pursuing post-graduation. But what relevance does an MBA have to the highly technical skills of a professional engineer, and is there a need for engineers to pursue MBA? If you have an engineering degree, an MBA gives you more exposure to business-related topics you didn’t come across in engineering studies. A select few do opt for specialisation in engineering but others want wider roles with higher packages and a broader spectrum which an engineering plus MBA offers. An MBA after completion of engineering is a good option for pursuing post-graduation. An engineering graduate with an added qualification of MBA degree, gets an exposure to business-related topics that is normally not included in the regular engineering studies. A technical degree together with a MBA degree, rounds up the education of an engineering graduate with exposures to management techniques and analytical skills. The demand for engineering graduates with management degree is high in the job market. This is also important because in today’s corporate world, the role of the engineer is changing; an engineer is likely to be a manager who has to implement new practices and new technology for optimum use of resources and factors of production. Having already obtained a technical degree, an MBA completes your education in the wider areas of management that usually include subjects such as finance, marketing, human resource management, organisational behaviour, and management strategy. This is also important because the role of the engineer is changing; within an industry, an engineer is likely to be a manager who has to implement new practices and new technology. Thus the engineer often becomes the primary manager of change within the modern organisation, which again requires specific skills and learning. If an engineer wants to stay strictly within the realms of engineering, it might not be as important to get an MBA but if you want to advance and climb up the ladder, an MBA would serve to be handy and useful. All MBA programs require the student to undertake a major project that is written up as a dissertation. This usually incorporates many of the modules taught in the course. Engineers can relate engineering aspects of a company with some or all of these taught modules. One example may be looking at the supply chain for particular products in the company, or a marketing strategy for the development and launch of a new product. The engineering MBA graduate is hence well-versed in management knowledge, skills and techniques, as well as their technical engineering abilities. Having an MBA gives them confidence to apply these skills to develop ‘strategies for growth’ of their employing companies, making them indispensable and sought after. In the future, they will be among those who set the rules and have conversations about what should and shouldn’t be done in the way an organisation is structured and managed.