Is doing MBA a good option? I think the answer is yes. Two things have to happen. You should go to a college which has good faculty, and attracts good students. So if you are good enough to get into an IIM A who is to even question “should you go and do your MBA?” The answer is obvious, is it not?
For the not so good / great student the decision is far more difficult to make. Should an ordinary student get into a “d” grade MBA? Again the answer seems to be yes. No, not because they will learn too many things, but because it is almost impossible to get any job with just one basic degree.
At least the college allows you to meet potential employers like banks, life insurance companies, FMCG; these companies would not even have known that you existed. So there are two uses of an MBA degree: You meet good students, you meet good professors who have been teaching there,
Probably this is the real opportunity for the corporate exposure as well.
Moving on to the skill sets, obviously a 2 year programme does not make you an expert but there are certain least expectations corporates have from an MBA student :
- Know how to produce and interpret a company’s annual report.
- Understand how the stock market works.
- Know how to use a financial calculator.
- Be able to produce a SWOT analysis of a business without breaking a sweat. (God help you if you don’t even know what a SWOT analysis is!)
- Be an intermediate to advanced user of MS Excel, AND know how to incorporate Excel-generated graphics into external reports.
- Communicate effectively in spoken, written and non-verbal mediums on a consistent basis.
- Be able to thoroughly evaluate marketing strategies and identify pitfalls and returns on investment.
- Understand and be able to evaluate and/or help implement a company’s IT strategy.
- Be able to create, identify and modify work-flow processes and create proposals to maximize efficiency.
- Know the basics of business and tax laws.
- Possess a leadership toolkit.
- Be proficient with technology tools and applications, especially those tools which have the ability to maximize efficiency and communication.
If you are a finance student here are some books that can give you a lead:
- The Intelligent Investor by Benjamin Graham, Jason Zweig, and Warren E. Buffet
- Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher and Kenneth L. Fisher
- Barbarians at the Gate: The Fall of RJR Nabisco – Bryan Burrough and John Helyar
- Liar’s Poker: Rising through the Wreckage on Wall Street -Michael Lewis
Well the above said is a minimum prerequisite!!