MBA
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There are many limitations as a result of not achieving an MBA. One of the biggest of these is the lack of management experience and personal skills development that business schools provide MBA students. Lacking these skills may severely hamper one’s career advancement even if hired over an individual with an MBA. As the global marketplace begins to evolve, increased competition among businesses to attract and retain the best qualified managers is critical to organizational success. Because of this, more companies are hiring MBAs because the degree alleviates their fears that a new-hire lacks the appropriate qualifications for management success. As Eileen Sheridan (B3) notes, “It’s a mega-competitive job market out there and you night just have guessed that a post-graduate business degree is a dead cert for placing you at the top of the pack.” Therefore, individuals who lack such a post-graduate degree and who have little on-the-job experience may find it impossible to compete with MBA-holders in terms of career advancement and salary potential.Another limitation of not having an MBA degree is that one misses out on the opportunity to learn and share with individuals from a variety of backgrounds and cultures. In today’s diverse workplace, such experience may prove invaluable for career success. Further, it is atypical for CEOs of major corporations to lack an MBA qualification. Because of thi
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s more than higher salaries when it comes to their top three reasons for pursuing an MBA, “The top three reasons why they began their MBA program: Increase career options (75%), develop management and technical skills (52%), increase earning power (51%)”, (Top B1). Without doubt, acquiring an MBA provides one with more career options than available for those without an MBA. Many companies will not hire a CEO who does not hold an MBA. Further, earning power by all accounts in the literature is radically increased by acquiring an MBA in comparison with salary levels before acquiring one. According to the Association of MBAs, the average real increase in salary from pre-MBA to post-MBA is 67% for two-year, full-time MBA courses (Gulden 5). Other estimates in the literature are even higher, especially if the business school where one acquires their MBA is ranked among the top like Harvard and Wharton.
While listed as the lowest priority for acquiring an MBA among MBA students, developing one’s management and technical skills is another valuable opportunity providing by acquiring an MBA. So, too, most business schools will not accept MBA candidates who do not have business experience, because they have little to bring to the t
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Approximate Word count = 3433
Approximate Pages = 14 (250 words per page)
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