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By Margaret Adolphus
Preparing yourself for the MBA
There was a time when the Master of Business Administration (MBA) graduate was caricatured as long on
theory but short on practical know-how. Now however, the majority of students up to 80 per cent on one
estimate (Badenhausen and Kump, 2005) are on part-time, executive or distance learning courses, which
means that they are likely to be both studying management and living it on a day-to-day basis.
No one undertakes MBA study lightly and you will probably be fairly clear what motivates you. For many, it's a
matter of career progression a way of getting a good general business education and a more strategic focus
that will enable you to be seen as someone who can take on more senior responsibility. For others, the need
may be to sharpen existing skills, to extend one's world view and to avoid being pigeonholed in a particular
function.
Whatever your motivation, it's important to reflect on the range of management competences an MBA can help
develop, for example:
Networking.
Strategic thinking.
In other words, it's not just about theory and technique, but about developing yourself as a person.
It's also important to enlist the help of your organization can they sponsor you, can they offer study leave (the
drawback here is that you may be tied to your organization for the duration of your studies)?
There are also other more informal ways they can support you, for example:
You will have development needs arising from your studies, what cooperation can you get from your
workplace? Will you be able to go and talk to the functional manager of another part of the
organization when you study a module for which you have no practical experience? Will your manager
be supportive, and give you time to discuss your new ideas and their application? How about your
subordinates can you try out new ideas on them? Mentors can be invaluable in that they provide
senior level expertise, but outside the "line" relationship can such be provided?
Will your workplace understand the commitment you have undertaken, and ensure a manageable
workload, even if it doesn't provide formal study leave? However you also need to develop the
necessary assertiveness skills to fend off additional work can it be delegated? Is the deadline
negotiable?
New techniques, for example, net present value, which allows you to compare current cost with
expected future benefits, or return on investment, which compares actual or estimated returns with
actual cost. Here you need to learn the formulae and rules. You also need to understand how they are
used and with what significance, and gain practice in using them.
New theories, methodologies and models which explain complex reality or provide a framework for
analysing problems or issues. Look at the theory or model in the light of your experience. Does your
own evidence support the theory? Can the models throw light on the way you do things? What
can/can't they account for/explain? Not only will the theories and models be easier to learn if you apply
them to your personal experience, but you may also find ways of functioning better at work, or be able
to suggest better ways of doing things to your senior management.
However, just as rote learning at this level is inappropriate, so is applying a particular technique just because
you heard about it in your class on Wednesday evening. Is this technique the latest, is this theory based on
sound research? If there is a chasm between classroom and work, is this because the theories promulgated at
the former are old hat or has the latter not caught up with the latest thinking?
You will inevitably find it easier to apply what you learn in areas where you have functional expertise.
Remember, however, that you are studying in order to expand your all-round knowledge of business, and aim
to acquire a working knowledge of the material for different disciplines and functions which you should be
able to relate to the organization as a whole, if not your particular area. You should also find it easier to
understand the language of colleagues!
If you have concerns that your experience is too particular to one organization, remember that many MBAs use
case studies as a good way of embedding models and theories, and you will also constantly be exposed to the
experiences of others on the course.
References
Badenhausen, K. and Kump, L. (2005), "Part-time MBA programs take off", Forbes, August 19.
Cameron, S. (2004), The MBA Handbook: Skills for Mastering Management, Financial Times/Prentice Hall.