Myths About MBA
Business School Salaries
Business Ethics
The application for
management studies i.e MBA have
dropped dramatically over the past years. This drop has been recorded
particularly after recession of 2008. Companies around the world have shed their
work force and packages have dropped to the unexpectable. Many economists have
blamed MBAs for the slowdown of economies. There are many myths about MBA
degree with many. Let me take them one by one.
1. MBA Graduates Are Corrupt
People think this because MBA
students learn business. Their primary purpose is to earn and maximize share
price. They will go to any limit to achieve this aim.
Problem: People
think MBA’s are only taught to to
earn money.
 |
| Mehmood Khan Unilever |
 |
| Shashank Shukla Teach for India |
The Truth: MBA students are trained to earn money. They
are better equipped to make success for an organisation. If 55% of MBAs are corrupt
as admitted then 53% of the enginners are corrupt too. Why only blame the MBAs. There are many examples of MBAs who are responsible for
social changes. Mehmood
Khan IIM Ahmedbad whom I know head innovaion Unilever quit his job to tranform Haryana,
Shashank Shuka who quit his US based job for making shelters for the
poor and homeless in Delhi etc are some glorified examples. Humans are greedy but education
makes them civilized.
2. MBA
graduates can Barely Create Value
Some people have the myth that
MBA degree can be replaced by other degrees. Some have said that engineers can
run the company better than an MBA.
Problem: We all know there are many examples where MBA
students have created value out of startups. People need to get some facts
right.
The Truth:
This was not the case when everyone was earning their share when the economies
soared. However MBA graduates have been partially able to tame drowning economies
which are run by governments (World Politics)and not the capitalistic views. MBA
graduates have cut costs and given the socity quality offerings. This has
raised the standard of living of many. Created opportunities around the world,
for example “The Business Outsourcing”
model which has given India, Phillipines,
Bangladesh service outsourcing as BPOs and IT industry. What about the manufacturing in China? MBAs have given
the world stability, growth and improvement. Is there an engineering course in
social sciences, but in MBA degree there are many. Vikram Pandit the CEO of Citi
took 1$ as his salary in the year his company lost its margins due to slowdown.
Just think before you make any
judgements and biased opinions towards any profession.
3. MBA students are the Greedist
If you think that you will
know why you think that. Is an MBA the ultimate form of humans, infected from greed
created by the man made rupee? How do you measure greed in humans by skewed
statistical research methods? Why do
people blame a stock broker when he wants to maximize profits? Isn’t that what most of us would have done
even if we were not MBA? But still lets assume that MBA is the greedist
because some intellectuals think so.
Problem: The
reason behind this thought is simple. MBAs earn the highest salaries while they
sit in an AC room with their laptops and blackberry.
The Truth: MBAs are the need of the hour. Management is not just term that sounds heavy, its
much heavier when it is on your shoulders. MBAs are paid a mere margin of what
they achieve for the company. This is simple business that they would have
otherwise earned if they had been an entrepenur. The new generation of MBAs is
different than what it was. They seem to join orgainisations where they really
feel they can make a mark and leave an impact.
4. MBA Graduates Lack Creativity
MBA can fit anything into
Excel sheets but they cannot be creative. Why do some people who are
particularly business men and others (not MBA ofcourse) think MBA is a Google
copy paste.
Problem: They think this because MBA is too specilized
with jargons, boring suits, hairstyles
and blackberry of course.
The Truth:
MBAs are founders and co founders of social media and tech companies. They are
present in the advertising world (a creative field if I am right). They are the
salesmen around us( Have these people ever thought what it takes to make a
sale? Some Creativity uhhh? It is high time people stop using creativity only
along paintings and musicians. MBAs are running the show, It is creativity.
What it takes to be an MBA?
I have seen numerous
articles on the net which say MBAs cannot do this and that by a degree. They
are greedy and lots of non sense from bloggers who haven’t learned the way to
manage their computer desktop. MBA is not just a degree which fetches good
placement and lifestyle, but it teaches how to take control of situations. I
agree It doesn’t makes you a leader but it’s the path to become one.
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