The business world is changing at a rate that would have been unimaginable five short years ago. Rapid advancements in technology, global changes in business behaviour and higher expectations from financial investors are placing tremendous demands on the corporate world. 

These changes now require a different mindset and focus; no longer is the business world looking for standard textbook skills acquired in the classroom, it needs the sharpened business instinct of an aspirational director or driven entrepreneur. The emergence of new global super economies such as India and China shows that we now require a new way of working and conducting business that is a seismic shift from the individualistic twentieth century model of leadership. World class accredited MBA programmes are responding to these drivers.
Accredited MBA programmes equip the individual with enhanced creativity, a wider variety of problem-solving approaches and better-quality decision making. It encourages the MBA student to look beyond his/her own experience and generate fresh business thinking, by adopting new approaches and looking at how a business can be transformed and developed.

An MBA can change mindsets too. The global scope of an MBA should ensure that students and graduates are primed to consider business education thinking in a global context.

The Association of MBAs is the international impartial authority on postgraduate business education and has been raising the bar in business education for over 40 years. Established in 1967, it remains a respected accreditation body and the only professional membership association for MBA students, graduates and accredited business schools. Its membership currently includes 9,000 members spread across 88 countries.

Evidence from the Association of MBAs' recently released global 2010 Careers Survey shows that the qualification continues to make a significant impact on salaries and career progression, particularly many years after graduation. According to the survey, MBA qualification attracts an average salary increase of 33% immediately post MBA, 92% in the three to five years after graduation and 151% six to ten years thereafter.

Furthermore, the 2010 career survey raised some interesting new data on the entrepreneurial MBA. More than a quarter of respondents (over 2000 MBA alumni from Association of MBAs accredited business schools) reported having started their own company/entrepreneurial venture at some point in their careers. In terms of the motivation behind this, the most frequently cited reasons for owning one’s own company is personal and career development, personal circumstances and the nature of the work.

Generally, the Association’s survey found that a sizeable number of respondents considered starting their own businesses. Of those, 42% changed business or employer immediately after completing their MBA and 26% started their own company/entrepreneurial venture. 15% of respondents reported having worked for a not-for-profit organization at some point in their careers and 64% said they would consider doing so.

Today’s MBA can accelerate the global careers of students by teaching them how to manage and compete in a corporate or entrepreneurial environment anywhere around the world.

A key reason for the MBA's continuing success is that it has evolved and developed over time to keep pace with changes in business and to reflect the skills needs of senior managers and chief executives. Importantly, the MBA is positioned as a post-experience qualification and this is its key strength when compared to other qualifications, with many HR directors recruiting for senior positions preferring to recruit candidates with an MBA for their core business skills and strategic capability.

Employers continue to value the MBA as a guarantee of all-round business skills and knowledge at a strategic level and many MBA graduates progress into senior and board level positions due to its strong cache as the business degree of choice. Career choices for MBAs cover a range of roles and industries. The most popular careers are to be found in the aforementioned Finance, Information Technology, Petroleum and but also Management Consultancy sectors, but increasingly, the MBA is attractive to people working in all sectors and can open up a range of career opportunities.

As business needs become more complex, the scope of the managerial role is broadening. Increasingly, and particularly in small and medium-sized companies, senior managers are required to take on wider strategic responsibilities, including IT, HR, corporate governance and risk management.

As Sharon Bamford, Chief Executive Officer, the Association of MBAs remarked, “The purpose of the MBA programme is to develop these skills at a strategic level, enhancing previous experience and filling the knowledge gaps.

MBA study is an enriching experience. It challenges the student intellectually but brings a wealth of international business experience from fellow students enabling a cultural and sectoral depth and a ready-made global network.”

Today’s MBA can accelerate the global careers of students by teaching them how to manage and compete in a corporate or entrepreneurial environment anywhere around the world. Management and leadership ability are qualities that retain value and an MBA education helps to blend and balance the teaching of management skills with the development of strong personal values and business ethics.

Sharon Bamford concluded “We believe that global business leaders of the future can expect enormous change over the course of their lifetimes. For these leaders to stay abreast of the changing business landscape, MBA learning has to be part of this journey.

On graduation, MBA students can enter industries of their choice and, as they advance professionally, they will continue to have opportunities to develop their knowledge and that can only be a good thing for the business and economic challenges we face. “

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