There are a plethora of reasons for studying for an MBA (Master of Business Administration). It could be professional or personal; from advancing one’s career to investing in yourself. For me, I think it is both and more.
“Why are you even doing this MBA sef?”- I remember my brother asking just a few months ago. I gave him many reasons ranging from personal growth, networking, career advancement, and boosting my entrepreneurial skills. Looking back, I think he may have been just really concerned about the money, time, and effort that I was already putting in (I had taken a month off everything to prepare for my NMAT by GMAC exam) and would still need to put in when school commenced, and if it was all worth it. He felt I could gain the knowledge and experience I needed from just doing business hands-on and learning on the go. You see, I already had been running my business(es) for about two years, however, I knew that I needed more, and Lagos Business School (LBS) would provide me that opportunity for growth.
So far, since commencing my MBA program in October 2023 at the Lagos Business School, I want to share five reasons why I think an MBA is important to pursue:
- Mind Development: This is one thing that is sure to happen, with the rich range of courses, from Critical thinking to understanding corporate financial accounting, your mind is expanded to think differently and make data-driven decisions like a CEO. This in-depth knowledge not only affects your business but your personal decision-making process too. An MBA challenges you to open your mind and learn something new especially if your previous discipline like mine was not accounting or finance-related.
- Financial Intelligence: Yes, you are not going to become an accountant overnight, but you will gain the necessary knowledge to interpret and understand financial statements, and reports and get a good grasp of most, if not all of the accounting lingo. Good news! You would not be clueless when those accountants and auditors start talking (smiles) because you would be able to see and dissect the financial aspect of your business or organisation.
- Human Relations: An MBA helps you understand and become better at human relations, after all, businesses are truly about people. People make up your organisation and customer base, so it’s imperative to know how to treat people with respect and value. The Nature of Human Beings course here at LBS helps you see that beyond the data and systems, people are your greatest asset in an organization. The way you communicate and treat others can make or mar your business. Also, in LBS you have to work in groups and share your ideas. I’ve found that learning in a group is very crucial in developing my human relations skills, I’ve learned to listen and be open to ideas that others bring to the table and be vulnerable to know when to ask for help. Most times, my colleagues help me see another angle when analysing business problems in our case studies.
- Networking/Exposure: With a broad base of alumni and colleagues from various backgrounds and industries, you can build networks and relationships that would help you in your current business and the future. I’ve already learned so much from my conversations with many colleagues in and out of class. Also, with the rich line-up of programmes and speaking engagements with some of Africa’s leading CEOs, brands, and industries, there is so much exposure to what it takes to run a business in an emerging economy like Nigeria.
- Managerial Skills: Your managerial skills will be enhanced. With courses like Analysis of Business Problems and Cooperate Financial Accounting, your critical thinking skills as a manager are sharpened to make informed decisions and not guesswork decisions, you get to see whether your business is a going concern or if you are just into busyness and about to plummet…
There is much more I want to share but I will stop here for now and continue in another post. Honestly, the real question for me thus far has not been “Why MBA?”, it has been WHY NOT MBA?
#MMBA5
