There have been differing opinions on whether an MBA is still relevant or not. Based on a report by the Graduate Management Admission Council, 90 percent of employers are planning to hire an MBA in 2017. The survey was conducted in 51 countries in different parts of the world. This only goes to show how businesses put a premium on graduates who possess MBA degrees.
If you are starting up your business, you might be wondering if you need an MBA degree or someone who has one. Read on to discover five ways MBAs add value to a grassroots company.
- MBAs have an extensive professional network.
A professional network is highly valuable, especially when you are still starting up your business. Many people who founded a business are more comfortable working on their own. If this is the case, you’ll need someone who knows the right people to help fund your ideas.
MBAs are the perfect candidates for this position since getting a degree alone will expose them to other professionals. It’s also likely for an MBA to know people who could give you the funding you need.
- MBA graduates can see the bigger picture
MBAs are becoming extremely valuable due to the changes in various industries, including healthcare. As explained by one industry expert, MBAs were trained to look at the bigger picture by considering all possible outcomes.
MBA graduates are the people behind new guidelines for quality and profit maximization in many sectors. These professionals can also pinpoint why you are experiencing losses and how to streamline your business process.
- MBAs are trained to solve problems
All MBAs experienced rigorous training to hone their problem-solving and critical-thinking skills. It doesn’t matter if you earn an online MBA with no GMAT or you had to take the test to be accepted in graduate school –you experienced identifying the problem, asking relevant questions, and collecting information.
An MBA graduate can make sense of a confusing situation. This skill is extremely valuable, especially for companies that are starting out and likely to encounter problems.
- MBAs are equipped to handle financial planning and management
An MBA is a great addition to any business, particularly in the finance department. MBAs are good financial advisors, financial managers, and management analysts. By being an expert in all three fields, an MBA graduate is trained to handle all financial matters.
- MBAs are valuable assets for Market Research
When it comes to analyzing data and market analytics, MBAs are your go-to person. Enrolling in UAB’s MBA degree online gives you an edge since you know how buyers will react to a certain product. A good market researcher will provide suggestions on the concepts applicable to the business owner.
These are just five benefits in having an MBA on your business start-up team.