Sometimes I wonder! What is the use of Professional degree such as MBA? Just to have a competitive edge for getting jobs or to be distinct from the world as an individual. Does it really change an individual into something new or is it just the brand that pulls lakhs of people across the globe to give comfort that they are better than any other course? Interestingly definition of brand has changed drastically as anything and everything can a brand, for an instance Sachin Tendulkar, Narendran Modi or MBA. A name or a person can have such an impact that people just get influenced by it and follow the rat race without even thinking what they really want.
According to a data in India there are 19,000 colleges which offer MBA or PGDM degree, every year lakhs of students enroll for MBA and every random college is offering the degree. There was a time when people wanted to get into premier colleges for MBA but now they want a degree called MBA. As we know every brand has its value of its own, therefore this brand is making wonderful business. No matter what happens to the global economy this industry will always flourish as people don’t want knowledge these days but they want a degree certificate called MBA graduate. It is a very powerful brand in itself. But the question remains the same, how does it transform a normal graduate into a whole new different individual. Why is it so hyped as I have observed many people around me with a self-named degree having less common sense? I don’t feel that it guarantee jobs as none of the college signs a bond saying that we can provide you job, not even the premier management colleges. But they guarantee to transform a normal graduate into a brand new individual. So is this transformation happening for real?
What do you think MBA stands for? Is this changing person’s personality and giving him excellent knowledge or is it just a NAME. We have read in economics when everything remains constant, demand is inversely proportionate to supply i.e. when demand is increased the supply decreases. But the brand proposition of MBA is so high that no matter what is the demand, it has subsequent supply to fulfil its appetite. It is very important for us to think that why do we need this degree? Is it for improving ourselves in terms of knowledge, personality and for better opportunities in our respective career or just to have a self styled degree without taking advantage of its learning? It is important for us to understand why MBA? And if we get a valid answer we should aim for it, otherwise it is merely a lucrative degree cum minting machine for many colleges across the globe.
I have learnt from porter’s value chain during my course, which states that there should be value addition in every stage of any operational process in an organization. It is merely not a theoretical concept it has deep meaning within, that even in our life we need to understand the real value addition with this self esteemed name MBA.
Author: Shruthi Ravishankar
A PGDM- finance student from IFIM B-School, currently interning at Right Horizons Financial Service Pvt Ltd, she is a passionate communicator, loves to know about science and brands, has own perspective about the things around and is always smiling 😛