Is MBA necessary to be Successful in Business?

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According to the Oxford Dictionary, a manager is a person who is responsible for controlling or administering an organization or group of staff. Master of Business Administration (MBA) is an academic discipline which trains students and professional, over duration of one or two year, for a career in management or business administration. However, it is highly contested that management cannot be taught in classrooms as it is an art rather than science. 

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Arguments in Favor:

Arguments Against

  • Though MBA curriculum provides a closer to reality assessment of business world but nothing teaches better than a real life experience. Prominent leaders attribute their success to experience, business acumen and prudence rather than to a degree.
  • Business schools now find themselves criticized from several directions: for paying too much attention to the return on their students' investment, for example, and yet for not giving value for money; for being too academic, and for being too concerned with teaching basic practical skills.
  • Henry Mintzberg, a professor at Canada's McGill University, in his new book “Managers Not MBAs”, argues that conventional MBA courses offer “specialised training in the functions of business, not general educating in the practice of management”. The students are often too young and inexperienced to learn skills that, in any case, are often easier to acquire in the workplace than sitting in a classroom.
  • Many prominent global business leaders namely Warren Buffett, Herb Kelleher, Michael Dell, Bill Gates, ,Oprah Winfrey and many more, who are considered to be the paragons of leadership do not possess an MBA degree.  

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