I always had this question in my mind and use to think about it for long hours “ Does one needs to be an MBA to understand the market” do these fancy degrees really makes you a champion. Do fancy college names in your degree give you a certification on the judgment of market trends? And many more…
I have worked with many professionals in my career with the Masters Degree in Business Administration some working under me and some above me.
I have been reading through some of the novels, biographies of the recent entrepreneurs and the young Indian businessmen have achieved in life and have found that it’s not the degree that drove them to the success of their business it’s their zeal to achieve something big make a mark in history to prove to the world that they were not meant to lead a simple life.. They had different goals in life and they worked hard to achieve them. It was not the books through which they studied business but the open market was their classroom. They learned by their failures, by seeing others, by not losing hope on themselves.
These are men class apart who could never walk with the crowd and always thought of making their own way. There was nothing which would come in their way. They never had any management degree but they understood the market trends, knew what was customer relationship, client satisfaction, quality control, branding, target audience and cash or finance management.
What I have felt in my education being a B Tech and being in the marketing and sales field that professional education never teaches you how to do stuff or how stuff is done. But it sure gives you the attitude to learn from your surroundings when you are in the market or in your arena. So it hardly makes a difference where you get the attitude from … by spending loads of money and huge time or by being there in the market and by experience.
I never oppose higher education or an MBA because it sure gives you something which might take a while for you to achieve.
I would be more than happy to gear your views and experiences. I would love to share some cases in my upcoming blogs.
I totally agree with your point of view...Talking just about India, I'd say we tend to follow blindly...I am sure while pursuing yr education you must have come across tons of batch mates/friends, etc..who just wanted to pursue MBA or some other management degree without having a clue of where they want to head in their respective lives...Again one reason for such a thought process being the kind of a society that we have grown up in...I am sure you come across a lot of job adverts that mention MBA candidates required..blah..blah..blah...and how much money do those MBA ppl make 10k-15k. The companies would not go ahead and hire someone who is a graduate and is more capable than an MBA but they would stick to an MBA no matter if their brains are loaded with tons of crap...so this aspect also plays an important role...what most of us want is just a Job so why not go ahead and pursue an MBA even if that doesn't make any sense...Also, a concept that people carry around these days is that an MBA would help them better their business acumen, which I doubt happens at all...again lets not talk about IIMS, ISBs of the world and if you look at it what percentage of ppl do really pass out of these institutions on a yearly basis...and I am sure even those from premier institutions not necessarily turn out to be great business minds..so it's important that ppl get a better understanding of what best they can extract from either an MBA or say practical experiences....in my personal opinion I'd stick with practical experiences over formal education..Again my perspective...
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Vishal
(Plz excuse my typos)