Why an MBA when a country is Bankrupt?
View(s):One of the key insights from the world of business in the last two years is that the companies that cut through the Covid-19 pandemics are organisations that was fearless in their behavior (whilst wearing a mask, being vaccinated and keeping a social distance). The companies continued to innovate and do new things as the consumer was going through radical disruption. If companies did not cater to this drastic new behaviour it would realise that competition was going to overtake them. In fact we see many new industry leaders today, that did not exist two years back. We also see this same reality in the leaders that run a country. The new age leaders who managed a country on data was able to steer a country through the tough times that the environment challenged us with.
Why an MBA?
In this backdrop, we see that companies having to do reseach and gather new data to understand the new consumer dynamics and how they engage brands . For instance Hygiene related products have seen a +186% growth whilst disinfectants a +74% growths which are interesting types if behaviour. Home working as against going to office has also created a new dimension to work life that has also given light to new theories of motivation required in an organisation. This has led to a new age executive having to study and read to understand the new behaviour seen during the pandemic which continues today too. This is further aggravated when a company is bankrupt and when a black economy emerges. Let me pick up 9 key points to consider when selecting an MBA programme of study.
1) Check the content
There are many MBAs in the market where the content taught is outdated. In fact, the content is sometimes downloaded by lecturers from the net and taught and it cannot be even hosted on the ‘blackboard’ of the said university due to copyright violations. Don’t get tricked to sexy advertising. This is your last qualification that many of you will study. Learn the most contemporary content and check when the last update of the MBA curriculum had been done. It’s an indication how industry linked the MBA programme is.
2) Check against the original programmes
It’s very important to find out the MBA programme run by the university in the host country. What this means is that if it’s a UK university, then check the subjects offered in UK and the syllabi as against the one run in Sri Lanka. In top universities this is the same content but there can be a tweek locally to suit the Sri Lanka business culture and challenges. Good universities have a strong QA procedure locally and also been done in UK.
3) The lecture panel
It’s important to check the lecture panel and how long they have served on the MBA programme. The logic being that professionals from the business world do not want to get ‘tarred’ by improper MBAs and content that is not in sync to the real world. Good MBA’s attract strong business professionals as lecturers. They have been in the visiting faculty for many years. They attend the graduation and are involved in the local entity. Today’s business world needs people who are practical and not people who know theory. A strong reseach training is a must.
4) The owner
If possible try to find out the owner of the local entity. If the owner is from the world of business in the private sector the chances are that you will learn good insight to business. Tuition masters owning franchised MBA programmes are a disaster in Sri Lanka. You will find the exception where the MBA is run not to make money but to give back to society and build a new generation of business leaders. If you find a local entity that does this select immediately.
5) The dissertation
This is where the crunch time on the programme happens. Good MBAs have a detail structured process stipulated by the university on dissertations. There is a clear guideline issued on the specific nuances of the MBA programme you are following and standards expected from the final dissertation. Check when the last research conference was staged. It’s an indication the focus the one has to new knowledge and how it links to the world of business.
6) Free offers
Good MBAs don’t give incentives to join. The quality of the programme drives the demand. If there are brand endorsees make sure that they are credible in the promises they are making to you. My advice to you is set aside a particular budget for MBA studies. Do not look for offers. This is the investment you are making for your future at midcareer. Select the best and focus.
7) Outside the MBA class
Good MBA’s teach you more than the curriculum. They get you to connect with the industry leaders and CEO’s and make you learn things that books do not teach. Go after such MBA programmes. You will enjoy the experience.
Best in the basics
Remember that modern day MBA programmes have some interesting subjects like ‘ Business Simulation’ that are very interesting. The new fad is Artificial Intelligence but many fail to remember that best practices business are: segmentation, targeting and positioning. My teacher late Professor Uditha Liyanage’s mantra of business was STP: the basics of business. This holds ground even now.
9) MBA – ranking
Whilst it is good to check the rankings of the universities when selecting an MBA, my view is that it’s better to check the lecturers who teach and overall experience you get. The rankings are more from a host country perspective and not on Sri Lanka.
Conclusion
Sri Lanka needs a new set of business leaders who have a new way of engaging the world. This will be on a platform but linked to many benefits. The ultimate objective is to have a change of behaviour post the MBA programme. The world does not want the letters MBA anymore.
(The author heads an Artificial Intelligence( AI) company
that does brand mapping and
consumer dynamics analysis in the South Asian region.)
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