In the professional aspect of life, it is always good to follow ones heart while choosing among a variety of options. For instance, the career choice that one makes is always bound to affect the rest of their lives. I have always dreamt of being a corporate manager and thus I am decided to pursue an MBA that would help me achieve my dreams. The Jungian personality self-assessment is very instrumental in making people choose the careers that they are best suited for. This paper discusses how the Jungian personality self-assessment has helped me in choosing my career.
Main Body
Pursuing an MBA has been my personal goal since undergraduate and will help in my career progression as a financial manager in the corporate world. This will also increase my chances of securing a good job with good pay as most jobs for managerial positions have attractive salary packages. I believe that I will be a very successful student in pursuing my MBA because my Jungian personality is that I am always time conscious and that I am able to compete with my peers.
Another reason why I am sure I will succeed in studying for an MBA is the fact that I exhibit type A personality. This also makes me an appropriate candidate for the positions I will be eyeing after completing my MBA. This is because with type A personality, I am business-minded and highly aggressive. My inability to relax when I have work to be done also makes me an appropriate candidate for managerial positions and thus studying for the MBA will be very helpful. With type A personality, I exhibit a controlling personality that makes me want to take responsibility for organizing for success.
According to my Jungian self-assessment, the characteristics I possess as a type-A personality, along with the many others I possess are just some of the key ingredients to the recipe for an excellent and successful business manager. These characteristics will propel me to become a successful business manager able to head a large corporation using my skills to benefit the organization in growth as well as increasing profitability.
According to studies MBA has emerged as the most sought-after graduate degree program. This is so because an MBA is the prerequisite course for high paying managerial jobs in the corporate world and also because career progression in MBA-related jobs is easy (Camera, 2006, p. 5). An MBA will allow me to increase my business knowledge, add to my current expertise, and enhance my management skills.
Throughout the MBA program, students learn a variety of management skills, develop leadership abilities, and form alliances with other people. These skills are very important in managing people and negotiating business deals and agreements. A variety of other skills are also acquired in the course of the MBA that help the student in both their personal and professional lives. In gaining all of these necessary skills, my credentials will strengthen. This is one of the main reasons why I decided to pursue my MBA.
Every good thing comes with challenges. Similarly, obtaining an MBA may prove to be very costly but the good thing is that the MBA is worth it because it brings unequaled returns. During an MBA course, you and your colleagues form bonds that will most probably last forever, the outcome being, on top of everything else: speaking the same business language . This network of MBA students will be fruitful throughout my working life and beyond, and often I will find my colleagues come from the least expected corners of the world. The MBA package comes with a score of subjects that ensure that students get a lot of knowledge that enables MBA graduates to become successful managers.
The scope of MBA subjects is also wide covering both national and international matters. It will also be resourceful to pursue an MBA since I will be able to come up with business ideas. This can be evidenced by the success that MBA graduates experience in their lives. It is common knowledge that some people have made it in business without MBAs. However, we must appreciate the fact that an MBA gives one instrumental expertise to carry out business functions.
The financial benefits enjoyed by people with an MBA degree are greater than those with an undergraduate degree. Educational achievement is a very crucial aspect of any profession. The amount of money that one gets as his/her salary depends so much on the education he/she has been through. It is thus apparent that advancing to do an MBA will have an exponential effect on salaries. An MBA should thus be the course to study for people who have been trying to advance in their careers without succeeding. From the detailed discussion above, an MBA is very good for people eyeing managerial positions in all kinds of professions.
Conclusion
In conclusion, my Jungian Personality Self-Assessment has helped me discover my personality and what others think about me. It has also enabled me to realize what I am gifted at and the career that can make me give my best. I am happy because I know what my heart wants and also because the desire of my heart agrees with my capabilities. This will enable me to work well in groups with other individuals and also know how people will perceive me.
It has also helped me in decision making by knowing my personality I have known my abilities hence it has enabled me to decide to pursue an MBA. Being competitive and self-driven will enable me to achieve my goal as a business manager. An MBA provides numerous chances to mingle with different individuals who possess different skills these skills will be great in my career. The entrepreneurial skills I will get from an MBA can enable me to start a personal business which can further increase my income. Eventually, the financial benefits and fair salaries enjoyed by professionals with an MBA Degree are greater as compared to the earnings of individuals who do not have an MBA Degree this will be an added advantage to my personal life and family.
Reference List
Cameer, J. (2006). Advantages of having an MBA. Web.
Proper career choice is vital towards self-satisfaction and optimal performance in the career field. I have opted for a career in Business Management and Administration. Thus, this reflective treatise attempts to explicitly analyze the requirements of this career and create a testing matrix for its effectiveness. Business management and administration careers encompass proper management skills and the ability to make critical decisions. Reflectively, the career operates within the parameters of being proactive, creative, and critical thinker with keen risk analysis sense ( Career Development Center , par. 3). Upon doing comprehensive research in the United States Career Development site, I have acquired knowledge in self-testing as a prerequisite for correct career choice. In the self-testing module, I have come up with the following questions.
Personal Evaluation
True or False Questions
Am I good at listening to others opinions and appreciate diversity in opinion?
Am I a critical but consultative decision maker?
Am I a self-inspired person who operates best in a teamwork environment?
Is the ability to understand group dynamics critical towards business management and administration career development?
Do I have the right academic qualifications to join this demanding career?
Multiple Choice Questions
Which of the following forms the most critical decision-making platform for choice in a business management career?
A. Self Inspiration
B. Career market demands
C. Proper understanding of workplace group dynamics
What makes a business management Career more unique than other careers?
A. It is very dynamic
B. It is self satisfactory
C. Personal ability to make critical decisions determines its success
What personal trait is critical in the decision process to pursue a Business Management Career?
A. Proactive personality
B. Creative thinker
C. Being an extrovert
Besides personal traits, which other factor is most important in business management career choice?
A. Labor market demand
B. Academic qualification
C. Career progress evaluation plan
What determines the success of a business management career?
A. Self-positioning
B. Proper understanding of the career
C. Ability to make critical and consultative decisions
Essay Questions
What informed the choice of a business management career?
From the research information gathered, is a business management career the best choice?
What challenges am I likely to face in the pursuit of a business management career?
Answers
Part 1
True
True
True
True
True
Part 2
A
C
A
C
B
Part 3
Business management career choice was informed by a personal passion for a challenging, interesting, financially rewarding, and self-satisfying career. Fortunately, business management and administration careers possess these aspects. Besides, I believe in consultative decision-making and teamwork. Besides, I am good at listening to people and being part of solutions to their problems. These skills will be vital in a business management career.
Reflecting on the available literature in a business management career, it is apparent that this career field matches my dream career. I possess academic qualifications and the strong personality required. As indicated in the statistics gathered from the career site, a business management career offers an opportunity to explore different decision-making environments and be active in the solution creation matrix.
The first challenge I contemplate facing is the inability to balance personal feelings with the scientific decision-making process. Besides, the dynamics of this career vary from one setting to another. Besides, the unstable labor market swings might lower optimal career performance since I am expected to bear the cost of any business-related decision.
This essay is aimed at discussing such a topic as whistleblowing which is related to both business administration and law. This notion can be defined as reporting illegal or unethical practices within private and public organizations (MacGregor, Robinson, and Stuebs 37). In particular, it is necessary to explain the importance of this activity for the protection of investors and customers. Furthermore, one should examine the ways of protecting whistleblowers. On the whole, one can say that these people play an important role in improving the work of businesses in the long term. Moreover, it is important to use legal and institutional safeguards to protect such employees from retaliation and empower them. These are the main questions that should be discussed more in this paper.
This topic has become particularly important during the last decade due to the growing number of corporate fraud scandals which affected many stakeholders in the United States and other countries. The most notorious one is the Enron case. It should be noted that this organization inflated its revenues by $800 million and misled many investors who believed that the shares of this corporation could be purchased with safety (Ieron 55). Some people knew about this accounting hoax and its possible impacts, but only very few of them were willing to speak about illegal practices in this corporation (Iron 55). On the whole, whistleblowing is particularly important for the protection of investors who place their trust in the integrity of senior executives or the board of directors. The importance of this issue can be better illustrated if one speaks about people whose life savings were destroyed at the moment when Enron stock plummeted (Iron 55).
Secondly, this topic is important because it is related to the protection of consumers’ safety. In some cases, manufacturers may conceal information about the defects of a product, even if these defects are extremely perilous. For example, there were cases when car manufacturing companies forced engineers to falsify the results of safety tests (Foust 164). In other words, these people could unwillingly endanger the lives of many customers. To a great extent, they were forced to resolve a conflict between two critical priorities, namely professional integrity and job security (Foust 164). Under such circumstances, whistleblowers can play a critical role because they can raise buyers’ awareness about possible problems and even threats to their lives. One should bear in mind that such scandals often gave rise to new regulations which eventually increased the security of clients. So, they can be viewed as agents who eventually bring improvements to the work of entire industries.
It should be noted that policy-makers accept the importance of whistleblowing for promoting the welfare of the public. This is why there are several legal acts that are supposed to protect these people who disclose information about the illegal activities of clients. In many cases, employers can be afraid of speaking openly, because such a step can imperil their job security in the future. Moreover, their professional reputation can be destroyed. There are many legislative acts that are supposed to safeguard this person. For example, one can mention the Sarbanes-Oxley Act adopted in 2002 (Sweeney 56). According to this law, public companies can be penalized for any retaliation against whistleblowers. Moreover, people, who are responsible for such practices can be imprisoned. This is one of the precautions that should be taken into consideration. Additionally, it is possible to mention the 2013 Consumer Protection Act which guarantees more protection to whistleblowers (Sweeney 56). Finally, policy-makers lay stress on the Dodd-Frank Wall Street Reform according to which such people can be entitled to some material rewards (Sweeney 56). Therefore, there are legal tools that can help law enforcement agencies protect these individuals and encourage whistleblowing in various organizations. This is one of the points that can be identified.
Admittedly, it is possible to say that current regulations can have some limitations. For example, they can give rise to blackmail or even “bounty” hunting (Sweeney 55). In other words, some people will have an incentive to search for possible malpractices, instead of eliminating them. Nevertheless, such measures can protect people from corporate retaliation which is also a widespread phenomenon. This is why such legal safeguards are important. It is vital to rely on them in order to improve the work of many organizations and their sustainability.
One should bear in mind that many companies understand the importance of whistleblowers for the sustainability of organizations. The main issue is that such people can help senior management to eradicate possible malpractices at an early stage and avoid potential problems. Their reasoning is based on the assumption that the losses, which originate from public scandals, usually outweigh the gains of unethical or illegal behavior. This is why researchers believe that it is necessary to hire people who can become whistleblowers (MacGregor, Robinson, and Stuebs 37). Moreover, researchers emphasize the idea that corporate scandals usually originate from some minor violations of ethical rules (Gallagher 21). Moreover, in many cases, inefficient organizational procedures can lead to ethical violations (Gallagher 21). In other words, business administrators should eliminate the opportunities for fraud or dishonesty (Gallagher 21). Furthermore, researchers speak about the institutional safeguards which are needed by whistleblowers. In some cases, they have to be transferred to a different division or department; otherwise, they can be mistreated by their co-workers (MacGregor, Robinson, and Stuebs 39). Furthermore, senior managers should ensure their confidentiality. So, researchers fully recognize the need to promote the culture of whistleblowing in order to eliminate the risks of fraud, theft, and embezzlement. This is why business administrators should not turn a blind eye to the benefits of whistleblowing because it is critical for the long-term sustainability of many companies.
On the whole, this discussion shows that whistleblowing performs several important functions. First of all, such activities are critical for promoting the rights of customers and investors who need to know more about businesses in which they put their trust. In their turn, people, who choose to disclose information about possible malpractices, can eventually bring improvements into the work of many businesses. These organizations are forced to change their practices in response to new regulations and the demands of clients. Apart from that, such people can help businesses avoid considerable financial losses which may be the result of fraud, embezzlement, or public scandals. Therefore, it is critical to shield these individuals from discrimination or retaliation. In turn, managers and law-enforcement agencies should rely on institutional and legal tools in order to protect such people from possible threats. These are the main aspects that can be singled out.
Works Cited
Foust, Matthew. Loyalty to Loyalty: Josiah Royce and the Genuine Moral Life, New York: Fordham University Press, 2012. Print.
Gallagher, Chuck. “Whistleblowing: How to build a culture of ethics.” Leadership Excellence 30.11 (2013): 21. Business Source Complete. Web.
Ieron, Julie Allyson. “Taking On Enron.” Today’s Christian Woman 26.5 (2004): 54. MasterFILE Premier. Web.
MacGregor, Jason, Michael Robinson, and Martin Stuebs. “Creating An Effective Whistleblowing Environment.” Strategic Finance 96.3 (2014): 35-40. Business Source Complete. Web.
Sweeney, Paul. “Will New Regulations Deter Corporate Fraud? (Cover Story).” Financial Executive 27.1 (2011): 54-57. Business Source Complete. Web.
The role of leaders in healthcare service provision remains a critical factor in determining the levels of efficacy that can be attained in achieving work objectives and managing emerging trends. Researchers indicate that the fast changing demands of the society towards getting better health services are based on emerging models. There is also a clear balance between customer value, staff competency, skills, organizational objectives, strategies and technological consideration.
The latter ought to be attained because it is critical in determining how effective an organization can operate (Valdmanis, Rosko & Mutter, 2008). Based on this consideration, this paper explores the role of training and technological transfers in Tufts Medical Center under the leadership of Aly Landry. Training aids in curbing the negative impacts of emerging trends by preparing and equipping staff with adequate knowledge.
A brief background of Tufts Medical Center
Tufts Medical Centre is a biomedical research and medical institution located at the centre of Boston Theatre District. The hospital was founded as a training institution in 1796 and has since grown into a full time adult and children hospital with a maternity service, pediatric facility and an operating trauma center (Tufts Medical Center, 2013). Besides, the institution is a major learning center for Medical students at Tufts University School of Medicine (Tufts Medical Center, 2013). It is important to note that leadership under the department of training at Tufts has been keen in offering training that meets with the current technological and patient care demands.
Training and technology transfer department at Tufts Medical Centre
Training is one of the best platforms that the management in this hospital has embarked on in order to generate high levels of performance and technological know-how. The training department has been playing a very essential role of producing competent workers thus linking the organization with its vision, objective and goals.
Aly Landry is the manager in the helm of training of Tufts Medical Center. He has a wide experience in this field of operation. He has worked in the hospital since 2002. He started as a senior human resource coordinator whereby he handled hiring, reference assessment and candidate screening (Tufts Medical Center, 2013). He was made a training specialist in 2007 and charged with responsibilities that include administration and training for all core system users, senior management and the hospital management (Tufts Medical Center, 2013).
Training and technological transfer
Shortell and Kaluzny (2006) indicate that all aspects of management should be aligned towards articulating the demands and objectives of an organization while employing the best strategies that meet all technological mandates. They continue to say that old mechanistic methods of providing healthcare service should be shed off and should include systems that involve training of staff and the use of technology. The latter can be assimilated to generate effectiveness and competence.
As the controlling factor, Aly has sought to provide clear outlook of the demands of his training department in terms of the expected roles of all supportive departments so as to provide the necessary framework for their operations (Tufts Medical Center, 2013).
Training in organizations is the best platform for institutional development and ultimate progress that enables an increase in productivity and profitability. In his model of organization learning, Peter Senge argued that learning creates capacity of an organization to embrace continued focus whereby all achievements or failures are seen to have important room for improvements (Shen & Eggleston, 2009). Most healthcare givers have been keen in employing learning systems to improve performance of workers and gain competitive edge in the market.
Trends impacting on learning
The question of effectiveness of the process of learning and technological transfer on the practice of learning in Tufts Medical Centre and the impact of emerging trends are worth examining since they play such a critical role in defining the ability of the hospital to progress and equip its staff with adequate skills. Of particular interest is the need to understand why several health service providers are facing greater challenges in implementing organizational learning ideals despite being theoretically and practically proven that training results into positive development. Some of the trends examined below include the changing technological environment and competition.
Technological environment
The ability of any organization to fully and effectively articulate its duties rests on its position to keep up with the fast changing technological development. A management that seeks to incorporate high customer value and effective staff training must adopt a system that keeps abreast with the current technology since it is critical in the realization of learning goals and sustainability. These new developments have impacted the learning progress of the Tufts Center by putting pressure on its leadership to offer continuous training and impart fresh skills and avoid hiring new staff (Tufts Medical Center, 2013).
To achieve this objective, the institution has increasingly turned to research and development methods that create faster and more articulate mechanisms that can facilitate the required interlink between new technologies and learning needs.
Competition
Competition in healthcare industry in the United States has been ubiquitous with other similar service providers offering stiff competition in provision of healthcare. The provision of adult and children treatment by use of emergent technologies, better facilities and intelligent staff by the different competitors has created rivalry and competition. This has been vital in this institution especially when it comes to seeking ways of improving its position in terms of facilities, efficiency and competency in the provision of medical care.
Besides, under the leadership of Aly and with help from its other departments, Tufts Center has sought to critically examine its weaknesses, strengths and threats so as to generate the best mechanisms in offering unique services (Tufts Medical Center, 2013).
Analysis and conclusions
Organizations must assimilate a culture of institutional learning which factors the need to progress staff knowledge, skills and abilities in handling emerging trends. This is a key element in determining competency. My view is that training of staff and technological transfer must be carefully mentored as main tools that can give an institution the correct direction towards greater levels of productivity. As majority of health services managers will agree, dealing with current emergency cases requires the adoption of better technology and adequate skills. So far, Tufts Medical Centre has made major progress and success following its assimilation of high standard of training.
Finally, the manner in which a leader in an institution views the need for organization leaning is indeed important. It came out in this paper that although most leaders approve staff training, its implementation is rather difficult because it requires careful coordination and focus towards trends and continued change of systems. The concept of emerging trends is particularly emphasized to be a problem because it is often conceived as a platform to disapprove previous existing systems. It is against this consideration that healthcare institutions ought to establish robust model of evaluating their employees’ progress and current healthcare demands.
References
Shen, Y. & Eggleston, K. (2009). The effect of soft budget constraints on access and quality in hospital care. International Journal of Health Care Finance and Economics, 9(2), 211-233.
Shortell, S. M. & Kaluzny, A. D. (2006). Health Care Management: Organizational Design and Behavior (5th Ed.). Clifton, NY: Delmar. Print.
Tufts Medical Center (2013). Training at Tufts Medical Centre. Web.
Valdmanis, V., Rosko, M., & Mutter, R. (2008). Hospital quality, efficiency, and input slack differentials. Health Services Research, 43(5), 1830-1848.
The first interview associated with MBA programs was conducted within 15 minutes. The respondent was a 25-year-old woman working as a nurse at XYZ hospital. It should be noted that the respondent was chosen to examine the part of the population that is not directly connected with MBA education. According to the laddering interview technique, she was informed of the purpose of the interview in advance, and all the necessary conditions were created to ensure convenience. The following is the ladder that was designed based on the interview:
According to the presented interview, it becomes clear that MBA qualification is not fully familiar to the respondent. Even though she detected insufficient knowledge of the topic, the answers were correct. Such questions as “what do you know about MBA education?” or “what are your attitudes towards these programs” were asked. When the respondent was confused by the latter questions to some extent, the following question was formulated to help her: “do you see any differences between MBA education and some other similar programs?”. This strategy implied by the laddering interview technique proved to be effective, and the respondent answered as follows: “well, MBA courses are the most prominent ones compared to some other local programs, and I consider them as an excellent opportunity to improve one’s career”. At the same time, the respondent was able to provide information related to MBA benefits such as good work and salary: “I think that students, completing MBA courses, may count on high salary and good job positions like those leaders working for Google or Apple, for example”. Thus, it is possible to conclude that the first interviewee, representing people that are not associated with MBA education, disclosed average knowledge.
The second interview focused on the respondent who was rather familiar with MBA programs and preparing to apply for one of them. This was a 17-year-old man who answered fully and competently, showing excellent knowledge of the topic. Likewise, the first respondent was also informed of the anonymousness of the interview and voluntary participation. The following is the ladder, illustrating the key points of the interview:
In the course of this interview, such questions as “what is the difference between MBA programs and other similar education?”, “Why do you prefer this type of education?”, “what are the benefits of MBA associated programs”, “where do you see yourself in five years”, and so on were asked. The respondent illustrated that he is aware of all the essential aspects regarding the theme. Furthermore, the answers were complete and clear. For example, the following answers were received: “I believe that MBA is the key provider of the most relevant and innovative education. Therefore, I will try to do my best to take some courses and complete them successfully” and “In my opinion, MBA offers nuances of the most demanded and leading positions by providing specialization to a certain industry. This helps the prospective leaders to be ready to manage even the most complicated projects”. As can be seen from the above examples, the interview was quite productive and informative.
In the professional aspect of life, it is always good to follow one’s heart while choosing among a variety of options. For instance, the career choice that one makes is always bound to affect the rest of their lives. I have always dreamt of being a corporate manager and thus I am decided to pursue an MBA that would help me achieve my dreams. The Jungian personality self-assessment is very instrumental in making people choose the careers that they are best suited for. This paper discusses how the Jungian personality self-assessment has helped me in choosing my career.
Main Body
Pursuing an MBA has been my personal goal since undergraduate and will help in my career progression as a financial manager in the corporate world. This will also increase my chances of securing a good job with good pay as most jobs for managerial positions have attractive salary packages. I believe that I will be a very successful student in pursuing my MBA because my Jungian personality is that I am always time conscious and that I am able to compete with my peers.
Another reason why I am sure I will succeed in studying for an MBA is the fact that I exhibit type A personality. This also makes me an appropriate candidate for the positions I will be eyeing after completing my MBA. This is because with type A personality, I am business-minded and highly aggressive. My inability to relax when I have work to be done also makes me an appropriate candidate for managerial positions and thus studying for the MBA will be very helpful. With type A personality, I exhibit a controlling personality that makes me want to take responsibility for organizing for success.
According to my Jungian self-assessment, the characteristics I possess as a type-A personality, along with the many others I possess are just some of the key ingredients to the recipe for an excellent and successful business manager. These characteristics will propel me to become a successful business manager able to head a large corporation using my skills to benefit the organization in growth as well as increasing profitability.
According to studies MBA has emerged as the most sought-after graduate degree program. This is so because an MBA is the prerequisite course for high paying managerial jobs in the corporate world and also because career progression in MBA-related jobs is easy (Camera, 2006, p. 5). An MBA will allow me to increase my business knowledge, add to my current expertise, and enhance my management skills.
Throughout the MBA program, students learn a variety of management skills, develop leadership abilities, and form alliances with other people. These skills are very important in managing people and negotiating business deals and agreements. A variety of other skills are also acquired in the course of the MBA that help the student in both their personal and professional lives. In gaining all of these necessary skills, my credentials will strengthen. This is one of the main reasons why I decided to pursue my MBA.
Every good thing comes with challenges. Similarly, obtaining an MBA may prove to be very costly but the good thing is that the MBA is worth it because it brings unequaled returns. During an MBA course, you and your colleagues form bonds that will most probably last forever, the outcome being, on top of everything else: “speaking the same business language”. This network of MBA students will be fruitful throughout my working life and beyond, and often I will find my colleagues come from the least expected corners of the world. The MBA package comes with a score of subjects that ensure that students get a lot of knowledge that enables MBA graduates to become successful managers.
The scope of MBA subjects is also wide covering both national and international matters. It will also be resourceful to pursue an MBA since I will be able to come up with business ideas. This can be evidenced by the success that MBA graduates experience in their lives. It is common knowledge that some people have made it in business without MBAs. However, we must appreciate the fact that an MBA gives one instrumental expertise to carry out business functions.
The financial benefits enjoyed by people with an MBA degree are greater than those with an undergraduate degree. Educational achievement is a very crucial aspect of any profession. The amount of money that one gets as his/her salary depends so much on the education he/she has been through. It is thus apparent that advancing to do an MBA will have an exponential effect on salaries. An MBA should thus be the course to study for people who have been trying to advance in their careers without succeeding. From the detailed discussion above, an MBA is very good for people eyeing managerial positions in all kinds of professions.
Conclusion
In conclusion, my Jungian Personality Self-Assessment has helped me discover my personality and what others think about me. It has also enabled me to realize what I am gifted at and the career that can make me give my best. I am happy because I know what my heart wants and also because the desire of my heart agrees with my capabilities. This will enable me to work well in groups with other individuals and also know how people will perceive me.
It has also helped me in decision making by knowing my personality I have known my abilities hence it has enabled me to decide to pursue an MBA. Being competitive and self-driven will enable me to achieve my goal as a business manager. An MBA provides numerous chances to mingle with different individuals who possess different skills these skills will be great in my career. The entrepreneurial skills I will get from an MBA can enable me to start a personal business which can further increase my income. Eventually, the financial benefits and fair salaries enjoyed by professionals with an MBA Degree are greater as compared to the earnings of individuals who do not have an MBA Degree this will be an added advantage to my personal life and family.
Reference List
Cameer, J. (2006). Advantages of having an MBA. Web.
My interest in a Ph.D. degree program in Business Administration program comes from my need to master all the informatics of business operations. Consequently, I am applying for a Ph.D. degree in Business Administration with the view of majoring in Information Systems. I am particularly interested in methodologies that can streamline the information systems of mega-corporations. The fast pace of technology necessitates viable and easy-to-update information systems. Therefore, it is no longer viable for anyone to master the business side of information systems, but there is also a need to understand their architecture. A Ph.D. program in Business Administration is a viable avenue for providing a comprehensive understanding of how information systems are fair regarding modern corporations.
Main text
A Ph.D. program in Business Administration (with a major in Information Systems) will enhance my current knowledge in data systems. Currently, I hold valuable insights when it comes to the development, designs, integration, and testing of data systems. In addition, A Ph.D. program will enable me to channel my conceptive, analytical, conceptual, and quantitative skills in business analysis. Furthermore, I desire to have the chance of opening up new directions in business information-systems research. After earning a Ph.D., I would like to use this knowledge to harness and redesign business information systems for mega organizations. Currently, data has become one of the most valuable elements in an organization just like capital and human resource. Consequently, research into how businesses can handle their data systems can have major impacts on the future of business administration.
I believe that my prior experience with data and information technology systems makes me a suitable candidate for this Ph.D. program. I have always had a major interest in informatics beginning with my acquisition of a Bachelors’s Degree in Computer Science when I was accorded an Upper Division 2nd Class Honors. The Bachelor of Science Degree program provided me with a steadfast foundation in information systems. After acquiring a degree in Computer Science, I proceeded to pursue a Masters’s in Science in Advanced Computer Science and Information Technology Management. My growing interest in the field of information technology was evident because I was able to attain a distinction in my Masters’ program. During my master’s program, I decided to utilize my skills in business administration environments. To align my skills with industry standards, I took up an Engineering Project Planning and Management course where I was certified as an Oracle Certified Associate (OCA).
I have amassed considerable experience in the field of Information systems starting from the time I served as an Information Technology Trainee between 2006 and 2007. Afterward, I gained employment as an Information Technology Officer in the Federal Ministry of Health in Abuja. As an IT Officer, I was in charge of various information-system-related duties including installations and personnel training. Currently, I am working as the Head of the Data Systems unit where I am in charge of various duties that relate to data management.
Conclusion
My main interest is to acquire the skills that can change business practices through information systems. These are the main skills that I am hoping to acquire from your world-class learning organization. Consequently, I am applying for a chance to pursue a Ph.D. Program in Business Administration with a major in Information Systems at XXX University. I have various good qualities that can be of benefit to your institution including the ability to institute fruitful research. I am looking forward to becoming part of your esteemed organization and its subsequent communities. Admission to your institution will broaden my career prospects and introduce useful changes in my society.
India’s retail sector is one of the most robust, and the country’s major economic pillars. This is in terms of the number of retailer outlets, country’s total GDP, and the people working in these outlets (Branch, 2008). However, despite the robustness of this sector, there are various restrictions that have been put in place to prevent Foreign Direct Investment (FDI).
Larsen (2007) point out that the current situation in India, as far as foreign activity in India’s retail sector is concerned; FDI is still not permitted in the country’s mass retailing sector. Be that as it may, there is a provision that allows foreign investors to become majority shareholders in some of the retail outlets, which deal with their products.
Drake (2012) notes that the entry of established retail outlet chains, such as Wal-Mart, is likely to increase the supply chain efficiency in India’s retail industry. This is because they will, among other things, enhance the sector’s ability when it comes to value addition and ensuring that products do not get spoiled as a result of lack of storage facilities.
Moreover, Drake (2012) explains that the entry of established chains is likely to have a positive effect on the existing local retailers because it will ensure standardization in the sector’s products. This will enhance the sector’s capacity to export its products.
Determination of Successes and Failures
Several strategic factors determine the success and failures. First and foremost, Taylor (1997) notes that the nature of the products themselves is a key determinant when it comes to the success or failure in global supply chain management. Global retail outlets, such as Wal-Mart, that have managed to successfully ensure that there is value addition in their products, have been successful in their operation.
This is because such products are able to attract higher prices in the international market because of the nature of their quality (Mangan, Lalwan & Butcher, 2008). The ability to understand market dynamics and make the appropriate adjustments is also another aspect that should be taken into consideration. A global supply chain outlet operates in different market environments and, therefore, it has to tailor its operation to suit the exact needs of the market.
Finally, the ability to align the operations of the outlet with the market demand is also an important determinant, as far as determination of success or failure of global supply chain initiatives is concerned (Mentzer, 2001). This will ensure that the inventory levels are maintained at optimum, thus preventing any losses resulting from excess inventory.
Repatriation
Repatriation involves the movement of employees back to their original or birth countries (Mangan, Lalwan & Butcher, 2008). Multinational corporations such as Unilever usually repatriate their employees for various reasons, including the fact that employees are likely to be more productive in familiar settings. However, there are several problems associated with repatriation.
First and foremost, repatriation might result into underutilization of an employee’s talent or abilities, especially if they are repatriated back to a country whose ability to enhance and improve performance of the company in question, has been compromised. Secondly, repatriation results to a loss in the country of origin.
This is because it basically involves exodus of talent and capacity, which are associated with the employees in question (Mentzer, 2001). Finally, repartition can be used for discriminatory purposes whereby, managers might decide to repatriate certain employees because they have conflicting interests (Mentzer, 2001).
Inpatration
Inpatration involves movement of employees from the sub-office countries to the head office countries (Taylor, 1997). Inpatration is usually aimed at encouraging exchange of ideas for the purpose of improving the overall management of the organization (Koster, 2007). Despite its obvious benefits, there are several problems associated with inpatration. First of all, inpatration can be counterproductive if there is a conflict between employee interests in the two countries
and, thus, its objectives will not be attained. Secondly, inpatration might result in unfavorable business practices being introduced into the host countries, as a result of the inpartriated employees learning the same from the head office country (Kouvelis & Su, 2007).
References
Branch, A.E. (2008). Global Supply Chain Management and International Logistics. London: Routledge.
Drake, M. (2012). Global Supply Chain Management. London: Taylor & Francis.
Koster, B.M. (2007). Managing Supply Chains: Challenges and Opportunities. Copenhagen: Copenhagen Business School Press.
Kouvelis, P. & Su, P. (2007). The Structure of Global Supply Chains. New York: Now Publishers.
Larsen, T. (2007). Managing the Global Supply Chain. Copenhagen: Copenhagen Business School Press.
Mangan,J., Lalwani, C. & Butcher, T.(2008). Global Logistics and Supply Chain Management. Boston: John Wiley & Sons.
Nowadays rapid development of media leads to the increase of direct sales without any intermediaries. A lot of companies strive to sell their services and products with the help of traditional media directly to their consumers. Besides, the development of media opportunities influenced the growth of the direct marketing providing it with new effective offers which help to attract more and more customers to its sphere. Direct marketing involves a great amount of new clients and, thus, increases its sales.
Companies promoting direct marketing ideas have an opportunity to present their individualized offers through the media. Such presentations help to improve companies’ position at the market and increase the number of patrons. Direct marketing development is merely caused by its benefits and convenient terms for the customers.
Direct Marketing Growth
Directs marketing can be defined as a marketing system using several advertising area in order to effect transaction or measurable response. If refer to the scholars Philip J. Kitchen and Patrick De Pelsmacker, then the direct marketing is, “An interactive system of personal and intermediary-free dialogue which uses one or more communications media to effect a measurable behavioural response at any location, forming a basis for creating and further developing an ongoing direct relationship between an organization and each of its customers individually” (Kitchen, Pelsmacker, 2004, pp, 64 – 65).
In other words, direct marketing is considered to be direct-order marketing. Nowadays this kind of marketing plays a significant role for establishment long term relationships with consumers. Companies got used to organize different programs for their customers to maintain effective and promising relationships with them.
According to Daniel R. Shiman, credible and recognized scholar in the marketing studies, “In the last thirty years of the twentieth century, the volume of direct marketing received through the traditional channels of mail and telephone increased rapidly” (Shiman, 2006, p. 321). More recently, there appeared such communication devices as: “…fax, e-mail, and instant messaging…wireless phones … have made communications [with clients] easier, cheaper, and more immediate” (Shiman, 2006, p. 321). Therefore, one may conclude that the direct marketing growth was caused by the rapid development of such marketing channels as telemarketing and direct mail.
Nowadays, these channels may be used as means of sales to business partners and existing consumers as well. They usually bring billions of dollars to the company annually. The rapid development of direct marketing is closely connected with different factors influencing social view on the sales. It should be mentioned that such niches as lack of time and increasing costs of traffic and parking are the reasons for the development of direct sales growth.
People are not provided with sufficient retail sales help that is why they are eager to make at-home shopping through the phone or just browsing the internet. Such ways of shopping make the process easy and more convenient for the customers. Modern marketing development created special conditions for direct marketers to promote their services and products directly to those buyers who are interested in particular goods. If refer to Joseph E. Phelps, the researcher in the field of the direct marketing, “The growth of unsolicited advertising in the traditional channels of direct mail and telemarketing, and the new channels of advertising [by fax, e-mail, Internet forums, and electronic messaging], has attracted public attention and concern” (Pheleps, 1994, p.15 – 16).
It might be noted that this sphere got the computer power and has an opportunity to outline the best product prospects. Besides a lot of companies are interested in direct marketing, to be more exact in the usage of direct mail or telemarketing, because of the rising costs increase.
It is important to stress that the growth of electronic communication contributed a lot to the direct marketing growth. Business companies have an opportunity to use millions of professional web sites which can be helpful for the sales growth. In accordance with Api Ruzdic, the scholar who discusses the influence of the computer – aided systems on the direct marketing, various firms have introduced “computer-aided direct marketing systems to reduce costs of selling to the small customers, small accounts, or regular customers re-ordering their products or services” (Rizdic, 1999, p.13).They fulfill functions which are important for the development of company growth:
They provide the information about the services and products of the company;
Customers have an opportunity to find the data they are interested in and read all the prices for the goods;
Web sites allow the customers to pay for their orders with the help of credit card.
People can compare the prices of different companies and select the most appropriate one. Such methods of direct management are very convenient; customers are provided with their orders at home either physically or by means of internet (music or software).
Direct Marketing Benefits
Direct marketing growth is caused by the great variety of its benefits. Firstly, it is important to stress that this type of marketing is one of the most hassle-free and convenient means of shopping. It gives an opportunity to save a lot of time and select the necessary product from the great variety of others. Direct marketing services provide catalogues with all the goods and prices for them. Direct marketers appoint special meeting with the customers in order to promote the best products of their company. Direct marketing is quite beneficial not only for the customers but also for the marketers:
Direct marketers can have access to the mailing list with all the names from different groups such as overweight, left-handed people or millionaires. It gives an opportunity to establish relationships with them by means of customizing messages;
Direct marketing provides its marketers with special media testing in order to find the most effective one;
Direct marketing allows gaining prospects at the definite period of time.
The convenience of the direct marketing can be also explained by the development of database marketing. It means that marketers can build and use their own databases of customers in order to contact and transact them. Customer database is considered to be individual customer’s data used for the purpose of the marketing in order to know qualification or sale of a service (product).
Database marketing is widely used by service retailers and some business marketers. For the better understanding, one may propose the following explanation, “The data are provided by a major investment brokerage firm that buys and sells financial instruments such as stocks, bonds, and mutual funds for their customers. Revenues are generated as a percentage of the trade amount.” (Allenby, Leone, Jen, 1999, p. 365). The information provided in the database gives an opportunity to rich more precision of the target market. It should be mentioned that there are some cases when companies stick to databases. They are the following:
Companies want to point out the customers who are to receive their offer;
Companies work out offers which are ideal for a certain type of clients. They use their database in order to decide the group of clients who suit their characteristics and meet all the requirements of an ideal target customer. The company can estimate the budget running from their customers.
Databases are merely used by the companies for the deepening of customers’ loyalty;
Companies use databases in order to show their care about their clients. They study personal information and send some gifts celebrating on birthday party or something else. Special information allows the companies to send their coupons or catalogues with new products together with presents. Thus, it can help to improve relationships between the company and its clients.
The companies use databases for the purpose of prospects identification;
Databases are used by companies for advertising purposes. It means that information about the customers helps to build perfect advertising campaign regarding the interests of their clients.
Databases are used for customer purchases reactivation in order to increase the sales level;
A lot of companies stick to databases in order to make use of their mailing programs which are usually sent to their customers and contain off-season promotions, birthday cards or shopping reminders.
Direct Marketing Public Issues
Regarding all the benefits of the direct marketing it is important to stress that it stands out among all other marketing types. Nevertheless it should be mentioned that even the direct marketing has its dark side. For example, Shiman considers that, “The growth of direct marketing in traditional and new media has raised concerns about an important privacy issue…” (Shiman, 2006, p. 322). And here are some cases when customers are not satisfied with the direct marketing conditions.
Sometimes people may feel a level of irritation, because the hard-sell increasing number may seem to cause discomfort;
Direct marketers can express unfair attitude towards their inexperienced buyers and take advantage of their impulsiveness. Marketers may present some offers of easy purchasing in order to capture new clients, though their offers are not so effective as they promote them;
A lot of complaints can be received by the Trade Commission because of scams. Sometimes direct marketers can exaggerate the quality of their service or products in order to grab attention of new clients and increase the sales rate;
Databases which disclose the personal information about the customers can be used by marketers unfairly. Companies can take advantage of some personal facts from life of their customers for the purpose of their own benefits.
Thus, the negative side of the direct marketing is broad enough and sometimes it can slow down the development of this sphere. Very often professional marketers stick to these points in order to avoid misunderstandings on the part of existing clients. They try to organize their sales honesty and well-designed to make their clients be convinced in the effectiveness of their offers and veracity of the information they present.
Direct Marketing Channels
Direct marketing covers a great variety of channels which make it convenient for the customers and beneficial for the companies. The main principle generally used here is that “the direct marketing’s main aim is to put manufacturers directly in touch with consumers” (Steinbock, 2000, p. 123). Therefore, one may suggest regarding and analyzing the direct marketing channels.
The first channel through which direct marketing can operate is face-to-face selling. This channel is one of the oldest and is considered to be a traditional one. This channel is one of the most reliable for the customers. They usually hire professional trade sellers in order to fulfill face-to-face selling. Direct selling tasks are usually carried out by manufacturers’ representatives. This channel is widely known among the great developing companies and is very frequently experienced by such companies as Avon, Mary Kay and others.
Direct Mail is considered to be the second channel of direct marketing operation. It covers such processes as sending offers to the customers, different reminders or announcements at a definite address. Companies usually select the most effective and interesting lists and offers in order to attract attention of the customers and increase the sales level. The marketers can send not only information, presentation and catalogues; their offer can be sent in the form of disks, audiotapes or CDs.
This channel is very convenient for both sides because the marketers have an opportunity to present detail information about their services and products with all the equipment they use for the customers to be aware of what they are going to buy. Besides CDs can present not only dry texts about the products quality but also can contain attractive pictures and graphics which can grab more attention than usual data. It should be mentioned that this channel covers the following types of direct mail:
Fax mail;
Voice mail;
E-mail.
In this context, it would be relevant to present the opinion of Lester Wunderman, the developer of the numerous marketing techniques, concerning the internet as the base of the direct mailing and the entire direct marketing: “The Internet seemed like what I had been looking for all my life…Prior to the Web, there was no real medium for the public. Whatever the advertisers choose to do, the Internet is the consumer’s media.” (Wunderman, 1996, p. 4).
To achieve the beneficial results in the direct marketing, it is necessary to develop the successful campaign or strategy: “A successful direct – marketing campaign requires close adherence to five essential components: planning, data gathering, mailing, telephone follow-up and tracking. Effective follow-through on all of these steps can lead to a significant return on your investment.” (Bildstein, 2007, p. 38). Direct marketers who use direct mail channel usually follow particular steps in developing their marketing campaign.
Firstly they are to set objectives for the orders production. It is very important for them to identify prospects and target markets in order to present effective orders for their customers. The next step lies in offer definition and elements testing. Evaluation of the product efficiency results in the effective advertising campaign and sales growth. And the last step in campaign development is measurement the results. This point allows companies to understand their pluses and minuses in order to use this experience for future direct mail campaigns.
Catalog marketing takes place not as often as face-to-face selling or direct mail marketing. It is used when the company wants to present its products through the catalogs; it can be either business catalogs or special consumer catalogs. This type can be effective but only in case if the company thoroughly test the marketing demand.
Sometimes different companies spend a lot of costs for catalog business development; they make expensive raw materials and send gifts to their customers. It should be pointed out that such steps can attract attention of many clients but it can lead to great debts of the company in case of small income from the sales. Thus, companies are to work out detail plan of their campaign and compare the costs with the possible income. Companies have an opportunity to put their catalogs in the internet and not print them; it will be not so expensive and take not so long time. But there were some cases when the companies failed trying to promote their brand only by means of the internet and mail.
Telemarketing is considered to be the channel of direct marketing which is fulfilled through telephone operators who try to attract new customers or just take different orders. This channel is quite convenient for the customers as they can order services and goods they are interested in through the phone. The effectiveness of this marketing type depends on the telemarketers’ skills and experience. They should be well trained and switch to their improvisation. Besides it is very important to make calls at a given time and have pleasant voices.
Thus, one can underline the fact that all the direct marketing channels are widely used in modern marketing and can bring increase of the customers’ number and sales growth.
Conclusion
So, the research carried out showed that direct marketing sphere attract more and more companies annually. This interactive marketing system covers a lot of media channel which help to operate effective business and reach sales growth. Besides as it was stressed this marketing is very convenient for the customers and it is the main reason for its rapid development. Direct marketing allows its clients to save a lot of time and select the product at the most appropriate price. The companies using direct marketing watch constant customers’ increase and the development of their brand.
References
Allenby, G. M., Leone, R. P., & Jen, L. (1999). A Dynamic Model of Purchase Timing with Application to Direct Marketing. Journal of the American Statistical Association, 94(446), 365.
Bildstein, L. (2007). Make Direct Marketing Pay Off: Practical Tips and Real-Life Results to Guide Your Campaigns. Journal of Accountancy, 204(6), 38+.
Kitchen, P. J., & De Pelsmacker, P. (2004). Integrated Marketing Communications: A Primer. New York: Routledge.
Kotler, P. (2000). Marketing Management. The millenium Ed. New Jersey: Prentice Hall.
Phelps, J. E. (1994) Press Coverage and Public Perception of Direct Marketing and Consumer Privacy. J. DIRECT MKTG, 9, 15-16.
Ruzdic, A. A. (1999). Potential Barriers to the Implementation of Computer-Aided Direct Marketing Systems. Review of Business, 11(2), 13+.
Shiman, D. R. (2006). An Economic Approach to the Regulation of Direct Marketing. Federal Communications Law Journal, 58(2), 321+.
Steinbock, D. (2000). The Birth of Internet Marketing Communications. Westport, CT: Quorum Books.
Wunderman, L. (1996). Being Direct. Making Advertising Pay. New York: Random House.
In the past the solution to a competitive job market is to get higher education. But for many people a bachelor’s degree is no longer enough to let them get ahead of the pack (Ozbilgin & Malach-Pines, 2007). It is also not enough to get them promoted to a position that they so desired. Thus, the answer for all of that is an MBA degree; it used to be the sure ticket to achieving all of the above. But in recent years many are questioning the importance of having an MBA degree in the 21st century. Based on a review of related literature it can be argued that a typical MBA program does not reflect market demand, especially with regards to the need of hiring an MBA graduate able to handle the impact of multicultural diversity in the workplace.
The criticism regarding the relevance of having an MBA degree stems from common sense, requiring no complicated theory. It is based on the fact that in a fast changing world rules and systems are changing in the blink of an eye (Ozbilgin & Malach-Pines, 2007). In a moment skills and competencies can be rendered obsolete. From the point of view of postgraduate students the question remains: Is it prudent to invest in a very expensive business education programmes. But for this study the more important question concerns market needs. It does not matter if postgraduate students will continue to believe in the hype that MBA graduates will be paid more because if business schools will not pay attention to what the market demands then sooner or later the MBA programme will become obsolete.
If MBA graduates will not be able to help companies deal with the problems of the real world then these firms will stop hiring MBA graduates especially if one will consider the huge salaries that business firms are supposed to pay those who are coming from business schools.
This conference paper will attempt to find out if MBA programmes reflect market demand.
The Promise
The high monetary cost of pursuing an MBA degree is indicative of its perceive value in the eyes of professionals and society as a whole. Many people, especially employers, are easily impressed by an MBA diploma. It is considered as a “high-quality qualification” and the proof of such claim can be seen in the number of MBA graduates in the UK. In 2000 alone there were 11,000 MBA degree holders in the United Kingdom (Mumford & Gold, 2004). It must also be pointed out that in the UK, there is a steady growth in the demand for an MBA (Mumford & Gold, 2004). Still there is a need to have a deeper understanding why an MBA degree is perceived to be of high value.
According to various researches conducted on the basis of the human capital theory, there are at least five distinct types of human capital that an MBA programme can bestow on the graduates and these are listed as follows (Ozbilgin & Malach-Pines, 2007):
scholastic capital – the amount of knowledge acquired;
social capital – personal contacts and network ties;
cultural capital – the value society places on symbols of prestige;
inner value capital – self-esteem, self-efficacy, confidence; and
market value capital – significant improvements in levels of earnings.
On the other hand there are also legitimate concerns with regards to the wisdom of focusing on theory, while the real world demands practical solutions that will yield substantial results. It has been pointed out that many are willing to pay to study in a prestigious institution because they believe that they will learn something that will help them increase their proficiency in the field of management. But it does not require a rocket scientist to understand that a manager or a CEO requires more than theoretical knowledge to run a company or manage a group of individuals.
In the 1990s there was a great demand for MBA graduates. But today this is no longer the case. This can be understood by comparing the economic situation in the 90s and in the first decade of the 21st century. The impact of the financial crisis was felt in 2008 but in the decades before the recent economic recession there was an economic upswing that made many companies wealthy. These companies can afford to bolster their human capital and therefore it was prudent to hire MBA degree holders. There is no better place to look for business leaders but in business schools that have an MBA programme.
There was also a huge market demand for graduates coming from top-tier schools (Ellin, par. 13). There was this perception that graduates coming from these schools can operate at such a high level. But then there are those who began to suspect that there may be other factors that contribute to the success and not the MBA course per se that must be credited for their ability to transform lacklustre company earnings to one that investors would love to see. But during a period of slow growth it is also easy to understand why many are taking a closer look at MBA programmes because if MBA graduates are unable to bring in the results expected of a high-salaried employee then it is time to stop hiring them.
While there is general criticism for business schools and MBA degree holders in general, there are recent reports that did not spare even those coming in from prestigious institutions. In other words, there are many who are not impressed with the MBA programmes offered in top-tier schools. Henry Mintzberg, a management professor at McGill University at Montreal, tracked the performance of 19 students who graduated from the Harvard Business School in 1990 and were the top of their class academically (Ellin, par. 10). Mintzberg found out that ten out of the nineteen were utter failures and that four of the nineteen had less than average performance (Ellin par. 11). If this is true then there MBA programmes should be examined more thoroughly because it seems that it already lost its value.
In a related study conducted in 2006 where researchers looked into 482 companies listed on the New York Stock Exchange they found out that only 162 had executives with graduate degrees from business and that those who went to top-tier schools did no better than those who went to less prestigious business schools (Ellin, par. 12). At this point the argument that corporate leaders need an MBA diploma is considerably weakened. But the more interesting part is the realisation that a company does not need MBA graduates to be successful. Again the value of an MBA diploma is being devalued by these reports.
Market Demand
It is now time to probe deeper into the MBA programme and find out if the said course is reflecting market demand. It is very clear what the market demands from business schools and it is to produce skilled leaders able to lead the company in a highly complex world. They are asking for good leaders but they are barking at the wrong tree because this type of corporate leaders is not made in the classroom. According to Mintzberg, “MBA programs train the wrong people in the wrong ways with the wrong consequences” (Ellin, par. 9). Management experts and even MBA graduates will agree with Mintzberg that what is needed is hands on experience. Unfortunately this type of learning is not possible within the four walls of classrooms.
Still, this kind of reasoning should not be used as an excuse. With the kind of money that business schools are charging their students there is plenty of incentive to create programs that can truly address market demands. One of the steps suggested by some is to increase the ability of MBA students to conduct academic research (Foss, 185). It is believed that learning the intricacies of academic research will train MBA students to “learn how to learn” and to have the capability to discover knowledge relevant to goals of the companies they serve. This is simply one of the many market demands but it worth noting that there is a clamour for more academic research done students enrolled in MBA programmes.
Aside from mastering the science of conducting academic research there is also the suggestion that current MBA programmes must be updated to include risk-management-and-insurance program (Fitzpatrick, par. 2). The current financial crisis is the wake-up call for curriculum developers in business schools. They must also take heed to what Kenneth Froot – a professor at Harvard Business School – who said that, “People shouldn’t bury themselves in the mathematics, because the mathematics are only tools” and that there is a need “…to have a wide and robust vocabulary to talk about risk, simply because no mathematical formula is going to capture all of what risk is” (Fitzpatrick, par. 4). It means that the ability to reduce problems into mathematical equations is no longer able to sustain an executive in a fast-paced world where decisions are not made solely on statistics.
Cultural Diversity
According to Olivia Mitchell, chair of the Insurance and Risk Management Department at Wharton School of business, there is a need to overhaul the MBA curriculum from one with a very narrow focus to something that is integrated with education in macroeconomic issues, corporate culture and human factors (Fitzpatick, par. 8). The emergence of China as an economic powerhouse forced many to rethink how the West should deal with Chinese businessmen in particular and Asian businessmen in general. Westerners realised that the way they do business in Europe will never work in an alien culture. In other words there is a need for an MBA programme where cultural factors are considered and this can only be achieved by creating cultural diversity by allowing more foreign students and faculty coming in from abroad. This will result in the creation of a multicultural program within business schools.
It is easy to understand why UK business schools – although mindful of the need to have a global worldview – find little incentive in creating a multicultural program and this is because the United Kingdom is one of the major financial centres in the planet. Therefore UK businessmen are not really desperate to go to a particular developing country to do business there; it is the businessmen from the developing nations that needed to establish business relationships with UK financiers and UK business moguls. They are the ones who need to learn the English language and not the British who will have to learn their dialects.
Still there are UK business schools that already began to upgrade their MBA program. One of which is Warwick Business School at the University of Warwick. In their official website one can read the following, “…Warwick is one of only two UK business schools to be a member of the Program in International Management, a global network of reputed business schools that collaborate closely on exchange programmes” (Warwick, par. 10). The wisdom of this approach is not difficult to understand, a global mindset allows MBA graduates to be versatile and flexible when it comes to solving the problems of their respective organisations.
In an article written for The International Journal of Knowledge, Culture and Change Management, “It is believed that management must understand the social psychological processes that reconcile the relationship between visible social characteristics and performance outcomes” (Washah, par. 1). MBA graduates who went through a multicultural program will be able to read people better, especially when they will be assigned outside the UK. While there are only a few UK business schools that emphasize cultural diversity in their programs the market demand will force these schools to adapt and the proof that there is pressure coming from the marketplace is the fact that business schools like Warwick are leading the way.
Reflection
The investigation into a current issue in management provided the proponent of this paper to exercise her critical thinking skills. There was this assumption that no one can go wrong with an MBA diploma. There is also the assumption that an MBA degree is a sure ticket to fame, success, and financial freedom. But since the financial crisis that engulfed the world of commerce in 2008 there is a need to re-examine the value of a higher education programme that not only is very costly to finance but also means the accumulation of high-salaried employees in the workplace. There is nothing wrong with paying top money for high-performing employees but if MBA graduates are not bringing value to their respective companies then there is no longer any reason why companies must hire them. There is also a need for MBA programmes to take a closer look into their curriculum and adjust it to suit market demands.
There are experts who pointed out the necessity of team-playing, leadership skills, emotional stability and conscientiousness as equally desirable traits and that they will not hesitate to choose a less knowledgeable person to fill up a vacancy rather than hire an MBA graduate who will command a high salary and yet unable to deliver results. It is becoming more evident that good managers are not created inside the classroom. No matter how a management professor spends time discussing the qualities of an excellent manager, a mediocre leader sitting in front of the class will not miraculously transform into someone having the aptitude to lead a company to new heights.
It is unfortunate that investors and employers made the wrong assumption that hiring an MBA is a foolproof plan. For a long time the profitability of an enterprise having an MBA graduate at the helm led many to believe that one is linked to the other. But according to the previous discussion a great number of MBA graduates – even those coming from top-tier schools – could not guarantee success every step of the way. It is now easy to understand that an MBA programme does not guarantee good leaders.
Professor Mintzberg was accurate in his assessments when he said, “You can’t create a manager in a classroom. If you give people who aren’t managers the impression that you turned them into one you’ve created hubris” (Ellin, par. 9). It is not hard to understand that a person who knows so much can be rendered ineffective in a world where solutions to problems require more than the ability to solve mathematical equations and the skill to study statistical data. There is also a need for a programme that a multicultural world-view, that every nation has its set of different values which a CEO should be able to understand and incorporate in their corporate strategy.
The most persistent problem when it comes to M.B.A. graduates is the fact that theory is not the same as reality. There is a need to develop people skills, the ability to deal with people. There is a need for MBA graduates not only grasp all the necessary business strategies but also to understand that employees is not motivated by titles and diplomas but by leaders who can effectively lead them and inspire them to do the impossible. These things could not be taught in business schools. Mintzberg was of course correct when he said that managers are not created inside the “safe” walls of classrooms. A great leader emerges after tackling problems and other difficulties.
Based on the preceding discussion it can be concluded that the typical MBA program is not designed to cater to the needs of employers and therefore does not reflect market demand. What happened was that the MBA programme became so successful that it created a false idea that MBA graduates are like miracle workers able to completely transform a failing company into a sure winner. But the global economy is so complicated that it could not be solved using a limited number of theoretical models or the ability to study spreadsheets and cash flow. There is a need to have the necessary people skills and other leadership traits that can only be developed outside the classroom.
On the other hand it must also be pointed out the demand for MBA graduates will never die down completely. For centuries businesses suffered from the lacklustre performance of college graduates but this did not lead to the eradication of the higher education system. In order to solve this problem colleges and universities simply focused on addressing market demands. As a result universities and colleges are still the main suppliers of workers that are needed in important positions such as the banking sector, education, healthcare, research and development etc. The current MBA programmes, especially those that are found in top-tier schools need to do the same in order to stay relevant and increase their value in the eyes of employers and those planning to spend tens of thousands of dollars in order to acquire an MBA diploma.
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