MBAs

[DuaneJackson]

I'm curious...

You've clicked - NOW VOTE!

[theMBA]

My MBA has broadened my horizons, my ambitions and my knowledge of businesses, large and small. I also have on-going access to on-line business resources, research and networks to underpin my responses to any business situation I come across. "Turning theory into practice" is now my personal mantra from the MBA experience, especially in strengthening my strategic awareness.

[Cornish Steve]

I went back to school for two years to obtain my MBA. After 20 years in the workplace and still working full-time, it was tough. Not to sound boastful, but some of the classes I could have been teaching. In others, I learned quite a lot of useful information. My goal was to become more well-rounded, and I met this goal.

I know that there are many MBA grads who are rather wet behind the ears, but there are also many people in the workplace who don't understand basic business theory. In combination with real work, and if you can find the time, an MBA is a useful option.

[LindseyMHC]

Duane,

I couldn't vote because there wasn't an option I agreed with.

I haven't got an MBA but I certainly don't think they're worthless. If you had a "No. But I can see why people would study for one" option then I would have gone for that.

Lindsey.

P.S. I have a degree (BA) and would be more likely to take a Masters in Public Relations than an MBA.

[theMBA]

For anyone who doesn't know what an MBA is, it's an abbreviation for "Master of Business Administration" - a post-grad degree which is an internationally recognised business qualification. Graduates from any discipline can study for it. The purpose is to broaden people's knowledge of all aspects of business, eg:-
Strategy
Marketing
People
IT
Operations
Finance & economics

The objective: to increase the overall level of knowledge (and 'professionalism' if I can use that term) of business managers, thereby increasing the chances of success of the businesses they manage.

It originated in the USA, , and there are now many excellent Business Schools around the world offering this qualification. Although I was already a qualified Accountant, I found the MBA stretching, thought-provoking and I learned a lot from it.

[DuaneJackson]

Hi Lindsey - I've added that as an option.

I often find newly graduated MBAs with little real world experience love to use all the buzz words but when it comes down to it are pretty useless at anything except theory. This is only based on a a small handful I've met though. But I guess the same could apply for any new graduate in any subject.

I think those in Steves position that mix it with a good dose of real world experience would be the most useful.

[LindseyMHC]

Cheers Duane,

Vote cast accordingly.

L.

[DuaneJackson]

Can those who voted for 'close to worthless' comment? As with most things I'm sitting on the fence and can't make my mind up : )

[WakingDragon]

I would like one (if I had the time to do it).

I think you need to have had some senior experience in business before you do an MBA in order to get the most out of it. I know a few people who have done them at senior levels and they improved massively and it really helped their careers.

[FocusZenith]

I don't have an MBA but have an MSc. Perhaps you should put another option on something along the lines of:

Do you have an MBA?

No, but I do have another degree at Masters level.

[Tazuk]

I have done the business finance and information management section with OU that can count towards an MBA in the future. I think i will do it in sections cos i'm way too busy.

[cjd]

I did a full time MBA (sponsored by my company) after I'd worked for them for 15 years or so. I'd say

1. They are very useful if you work for a medium to large company and want to progress quickly through it - it makes you marketable.

2. I met a number of people there that have become lifelong friends and good business contacts.

3. I enjoyed it, although it was hard work. I didn't find it particularly difficult - just a huge quantity of work to get through.

4. It makes you think like a consultant which has its up and down sides.

5. It gives almost everybody a bloated feeling of self confidence quite beyond their actual ability - often seen as arrogance and an expectation of high salary and success.

6. It is utterly worthless to the small businessman - they need a completely different set of skills


7 I'd forgotten almost everything I'd learnt within 2 years.

[Dawg]

I'd agree that they could be mostly useful in larger companies, and would argue that they are totems; symbols; ritual indicators of status, not worth. Much like a dog collar. I'm sure they are hard work and can be useful to some people, but for business I think you'll suceed despite rather than because....maybe an MBA is a management placebo?

[cjd]

I should also add that it also depends where you get it from........

[Asteeleleith]

Since graduating with my bachealors degree some ten years ago now, it has been tough for me to commence another programs of study.

So not get me wrong i love to read, but wen it seems suddenly u have to to pass exams. The fun seems to go.

This said i would like to do a masters degree at some stage, and it's the toss up between Computer Science, or an MBA
to be honest, the latter i think would get me a lot further. They are however expensive i think, £10,000?

Al

[theMBA]

The cost of an MBA depends on the Business School and whether full-time, part-time or by distance learning.

Can vary from about £30-40k for full-time at, eg London Business School, to about £10k for distance learning MBA at Warwick Business School. Getting your employer to sponsor you to do it (and pay the costs) helps enormously.

I went for the distance learning route - it took longer, and meant that quite often I was working on it in the early hours of the morning, but it did mean I was able to do it while also doing a full-time job (in Venture Capital).

[fastfences]

7 I'd forgotten almost everything I'd learnt within 2 years.

Is that though, a reflection on the course content delivery, or your retentive ability?

I have studied at degree level (though not yet completed) and agree that we all 'lose' some of the info, but 'almost everything?' Perhaps fortunate that your employer paid :wink: .
Cheers, Nigel

[refreshious]

I've got the Millionaire MBA CD, does that count? ;)

My opinion is that MBAs are suited to people who like's to work for someone else for a living. Usually those who climb the corporate ladder and achieve something for someone else's business.

Most very successful entrepreneurs don't even have an MBA (or higher level qualification)

[DuaneJackson]

I've got the Millionaire MBA CD

Was it any good? The poor guy that runs it came along to give a talk to my networking group years ago. He got a bit heavy on the selling of his product so the audience wanted to know if he was a millionaire, he avoided the question but eventually conceded that he wasn't but that he thought he had a product worth a million.

Needless to say he didn't even finish his first drink at the pub afterwards before he quitely slipped away.

[refreshious]

I've got the Millionaire MBA CD

Was it any good? The poor guy that runs it came along to give a talk to my networking group years ago. He got a bit heavy on the selling of his product so the audience wanted to know if he was a millionaire, he avoided the question but eventually conceded that he wasn't but that he thought he had a product worth a million.

Needless to say he didn't even finish his first drink at the pub afterwards before he quitely slipped away.

yeah I think it's pretty good listening to UK millionaires and other entrepreneurs on how they did it. It's a bit of motivation and helps you set up your own business. You can listen to various clips on his Website.

I don't think he's a millionaire yet. I think he's passionate about what he does, like teaching and he's just written a book recently as well.

[cjd]

Is that though, a reflection on the course content delivery, or your retentive ability?


My retentive ability is universally awful (tho' short term is good enough to get through silly exams ;-)). Some days I have to work almost everything out from first principles and I admire people who just remember stuff.

Of course I am being unduly dismissive. I can now remember few of the academic facts but I do retain most, possibly all, of the ethos and way of thinking and have often found it useful. If I need the facts, at least I know they exist and now have the ability to find them.

If you do a decent one (and there is really no point at all doing a run of the mill one - the currency is devalued) you get to walk into dozens of companies and try to figure out what they're doing wrong. It's only later that you understand how niaive and arrogant that is - even so, you learn an awful lot very quickly.

A little story. One day we were in a marketing lecture and as the morning went on the car park filled with the most amazingly expensive cars. There was an afternoon marketing session for the execs of medium sized companies. Everybody in that lecture was a multi-millionair - mostly self made.

Our £35,000 pa lecturer had some balls to walk out of our 'wannabe' room into that 'done it' room to deliver the same lecture and you have to wonder what the paying guests thought they would get out of it.

[easyasit]

Hi All

Wow, blimey, !0-40k for an MBA.

We all i can say to that is i have other things i would spend that money on. I think to be honest i would have to think very long and hard before spending this money on such a course.
Would i likely see a rtn on my investment etc?

Saying this though, i was approached last year by liverpool university to do an online computer science degree for the princely sum of £10k.

As you say though i think a sponsor would be essential for such a project.

Al