Operating a business in today’s economic environment is complex for large and small companies servicing local, national and international clients.
Business executives & managers require being knowledgeable & skilled with a wide range of abilities to enable them to successfully function effectively in they’re job role.
A worker that has attained academic learning & skills with a graduate business degree provides positive contributions to a specific company, although will vary by business size and type.
10 benefits of an MBA degree to a company
1. Provide leaders with knowledge to run an organization
An MBA can be important for USA or UK larger business as it provides general management understanding, skills & knowledge to operate a business successfully for managers or leaders.
Companies value MBA graduates as they are employees equipped with leadership skills required for the business to meet its operational goals & succeed. Business leaders will understand how an entire business works & its functional departments that make up a medium to large size company.
MBA graduate acquire skills including:
| Leadership skills | Presenting | Critical thinking |
| Strategic management | Finance & marketing | Problem solving |
| Operations management | Compiling & analyzing data | Micro & macroeconomics |
Working together employees in a business strive to meet organizational goals & objectives that are strategically set & managed by executives.
One benefit of an MBA to an employer is they get a management team leader that’s better qualified, can apply critical thinking, problem solving & analytical skills to make decisive decisions for operational success meeting business objectives.
2. Manager is articulate & knowledgeable talking to clients
Organizations that employee older workers & younger managers with higher general business skills accumulation level recognize the value to a business of hiring MBA graduates.
They bring up to date working practices & ideas, as well as business principles & use industry terminology when working with colleagues, and while talking to customers & potential clients.
Postgraduate master of business administration degree holders also help a company to reassure clients that the business is knowledgeable, credible & skilled to accomplish the clients requirements when hired for project assignments.
3. Company is credible applying for external finance
A business looking to expand or fulfill customer orders may require a loan from a bank or business financing organization.
Before financial institutions lend a business money they check to see if it’s realistic the money will be paid back with interest. The leadership team with MBA’s & years of industry experience can come across as credible being educated.
Financiers can be reassured looking at a business order book or client base and decide the management team has necessary knowledge & skills to succeed.
4. Highly trained & skilled company employees
Companies hiring an employee with an MBA typically employ a person with the right personal profile that includes leadership & interpersonal soft skills enabling them to contribute to analysis, and if required solve business issues.
Recent business graduates generally have a history of continues professional development through up dating skills & business knowledge that ultimately benefit an employer.
Employing younger & more experienced staff members with a specialist MBA in marketing, or health can contribute to a business department expertise & efficiency helping the organization to grow.
Further, departmental experience a valued MBA employee receives over time can be groomed for promotion to enhance the management team capabilities utilizing valuable, marketing, operations & financial acumen.
Newfound business management theory & principles stay with an employee for life, and with increasing skills and knowledge overtime they are compounded making a manager more valuable to a company.
5. Apply knowledge & skills overcoming business challenges
Entire focus of an executive MBA is installing business skills & a holistic view of how a company operates giving leadership the ability to react to challenges the business has, and learning and overcoming any issues.
Management with acquired MBA skills coupled with years of industry expertise can first identify problems in a business using soft skills, such as team work & specific knowledge to see what is working or not to affect change for better results.
The leadership team can go on and enact change installing business operational improvements in the organization to improve efficiency or stop any further waste of valuable resources.
6. Improve work efficiency in department’s & organization
A businesses operational efficiency greatly contributes towards achieving the companies goals and making a profit, An MBA graduate with experience in the job role can:
- Enact change.
- Enhance working practices in a specific department.
- Implement time management effective working processes.
- Increase company performance or meet set targets.
Using business theory knowledge with problem solving skills, as well as critical thinking can lead to work employees collaborating seamlessly with other functional departments in the business to meet set objectives & financial goals.
7. Key employees can work independently taking decisions
A master of business administration degree recipient can work more independently if required. For example, an employee for a logistics company could pinch for client business contracts, give quotes on the companies’ behalf or rejecting clients as the contract is loss making.
8. Recruitment & retention of valuable employees
A company recruiting young graduates or promoting promising employees with only industry experience doesn’t mean they’ll stay long term.
Some aspiring young & older mangers want to advance they’re career in the organization hopefully to become part of the management team or executive leadership. A MBA is not that difficult for an average student if they are committed, motivated and ask tutors questions for guidance when required.
A company should pay for an MBA for a strategically an important employee that wishes to study for a business management qualification as an incentive to retain them in the business as much as possible.
Additionally, an MBA helps in business whereby the organization could offer paid tuition or partial finance benefit to attract seasoned industry employees or top graduates to work for the company.
9. Equip small business owners will general management skills
A specialist or general MBA will benefit a small company as it provides skills & knowledge in operations of functional departments of a business and the overall company.
Small business owners managing & operations themselves requires understanding the entire business, how it works working through a multitude of tasks, so more important than others:
- Identify if any what competitive advantage the business has.
- Look at opportunities to expand and identify risk to the business using analysis that may result in major financial or clients being lost.
- Manage & direct employees in the business after drafting a plan of action for optimal operational efficiency.
- Expand into new markets after conducting marketing research.
- Financial analysis, forecasting profit & loss and budgeting of company finances.
- Present ideas to team members, employees and clients.
- Draw up, implement, and if required change the business strategic direction.
10. Enhance presentation of written & verbal skills
During business management degree course students gives presentations; participate in individual study and group work.
Delivering presentations is an integral part of an MBA course, as well as data collection, analyzing & display in an appropriate format.
Graduates become accomplished enough to deliver sales pitch presentations to clients to win contracts, and internal progress report presentations to the senior leadership team & owners.