It’s widely known that MBA stands for “Master of Business Administration” and is a Master’s degree in business management. Some folks, however, seem to be under the impression that “an MBA is useless!”.
Discussion: What is an MBA?
・A qualification for a managerial position
・An opportunity for self-improvement/an investment in education
・An opportunity to build a network
・Status (and a title)
Before we get into the question of whether or not an MBA is useless, we must address the fact of how, as detailed above, there are numerous interpretations of the question: “what is an MBA?”. If, however, you talk with MBA holders about their experiences, they will say that while those two years of study were tough, the effort they put into the program and the personal connections they made during their studies proved useful in their subsequent lives. In short, they feel that the most important thing they gained from their MBA education was not the knowledge they acquired, but the experiences they had. It is the attitude they gained from those experiences that led to their future success in life.
On the other hand, when considering the opinion that “MBAs are useless”—well, of course, an MBA education is no golden ticket. The knowledge gained from the program will eventually become obsolete, and the value of the MBA degree varies from country to country and business to business. These points must be acknowledged. However, the fact remains that those who continue to challenge themselves despite failures are not satisfied with their current selves; they are always looking for the next opportunity for self-improvement—for action. Before countering that “MBAs are useful!”, business schools must ask themselves: can we provide an experience that these individuals will consider worth choosing? Are we really offering an education that meets society’s needs? These are the questions business schools must address.