The master of business administration, or MBA, is an internationally-renowned route of postgraduate study for those wishing to be a success in the business world.
The course is a varied look at the needs of industries, training you in a range of skills required for different roles within a company. Of course, the program will differ depending on where you study it and what particular modules you choose to take. Generally, though, these are some of the things you will learn when you undergo an MBA.
Leadership and corporate governance
MBAs are the course of choice for many industry leaders and department managers, so it is natural that this program trains its students in how to lead people and make effective executive decisions.
Corporate governance consists of the rules and practices used to control and direct an organization. An understanding of corporate governance is needed to be teamed with strong leadership in order to be able to balance different parties’ interests and effectively grow the business.
Human resource management
HR professionals are vital within an organization to curate a positive company culture and ensure employees have up-to-date knowledge and skills. Often, they are heavily involved in the employment and onboarding process, so their ability is key to securing top employees.
MBA programs will usually have core or optional modules in HR management, allowing students to not only understand the extensive responsibilities of human resource managers but hone the skills necessary to conduct these.
Business research methods
When growing a business, it is important that key players within it fully understand the market they are working in and the level of desire for their products. An outlook of these can be found through research tactics such as interviews, surveys, focus groups and more. Gathering qualitative and quantitative data can be what ends up guiding factors such as profit maximization, cost-cutting and personnel management within the company.
An MBA module in business research methods will train you in how research is conducted on an industrial scale for large corporations right down to how information is gathered for small startups.
Financial management
Many professionals working with the finance sector have MBA degrees. As part of their study, they will have learned the tools to use financial data for making management decisions that result in the growth of their company.
Studying finance management as part of your MBA will allow you to understand and engage with the wider financial contexts of your industry and implement this in all of your executive decisions, whether your company is within the finance sector or not. Having a grasp of finance will allow you to better forecast profitability and will be an impressive attribute on your resume.
Supply chains and operations
A company will always aim to minimize costs, waste and time in its production cycle. This can only be done with full knowledge of how its supply chains and operations work.
Studying supply chain management and learning about business operations – including planning, sourcing, manufacturing, delivery and logistics – will enable you to see where there are flaws in your business’s current systems and come up with innovative solutions.
Study an accredited MBA with Eton University and prepare to make a difference in the business world.