When searching for a job in today’s dynamic and competitive employment sector, your technical skills can only go a short way. You might be a highly skilled engineer or an expert software developer, but soft skills and business knowledge distinguish you from other candidates.

In today’s time, MBA is a highly renowned and in-demand degree. MBA enables individuals to secure leadership positions alongside offering expertise in human resource management, supply chain, marketing, finance, etc. 

Over time, MBA programs have become one of the most expensive degrees in the world. For instance, an MBA from Harvard Business School costs US$112,764 for a two-year program. Fortunately, online MBAs have made the degree affordable and accessible for many individuals, even in remote locations like Nigeria. 

The academic landscape in Nigeria is witnessing a positive trend. Over the past few years, 17% of secondary education students enrolled in higher education programs. 

Is an MBA Worth the Hype?

A business degree offers more than textual business knowledge. Business degrees such as an MBA focus on practical and experiential learning, ensuring essential skill development. These skills are necessary to progress in your career, especially if you belong to the corporate sector. Additionally, MBA graduates earn impressively more than their counterparts. 

In Nigeria, the average earning of an MBA graduate is $2,000 yearly, which is 80% higher than the national average. Such incredible earning potential is enough reason to pursue higher academic endeavors. While searching for an institute to pursue higher degrees, ensure the institution is accredited. For instance, you can consider exploring Nexford University, which is accredited by the DEAC. If you’re willing to earn an MBA from Nexford University, learn more about their online MBA program in Nigeria to determine the duration, cost, and program format. 

Now, let’s go over the skills and qualities only an MBA can sharpen: 

1. Professionalism

The business world demands that you exude professionalism, even when dealing with stressful situations. MBA students are expected to present their projects to teachers, capstone supervisors, and industry professionals. Routine presentations instill a sense of professionalism in MBA students, preparing them for the corporate world. 

When working in groups, they also learn about the importance of teamwork. They might even discover their potential as a team leader or become an effective team player. 

2. Communication Skills

Effective communication skills are crucial to navigating stressful situations, handling negotiations, and communicating with those you manage. Regular assessment of case studies, presenting research work, and steering groups polished MBA students’ communication skills.

An MBA equips you with the skills to captivate, persuade, and negotiate. You might also read and work on case studies where you will learn how concepts are conveyed in a story format. As an MBA student, you’re bound to give presentations, participate in class discussions, and manage group projects. All these projects and case studies during your program help you polish your verbal and non-verbal communication skills.

3. Flexibility and Adaptability

Agility and adaptability are crucial for businesses to succeed in a competitive market. But for companies to become agile, the workforce must be agile and possess the skills to adapt to any situation. When pursuing an MBA degree, you go through hundreds of case studies where you read about business success and failure. You study the factors that led to their success and the factors that caused them to fail. This way, you can apply the same learning to practical scenarios at work. You can utilize the strategies learned through case studies to tackle similar organizational challenges. 

An MBA teaches adaptability and sharpens the skills business executives need to mitigate risks and tackle failure. On top of that, given the transforming business landscape driven by AI and Big Data, companies are looking for individuals with the skills to navigate uncertain times. Those with an MBA learn to navigate novel challenges, devise innovative solutions, and prepare contingency plans.  

4. Strategic Decision-Making

Strategic decision-making is one of the most important skills you develop when pursuing an MBA. Throughout the courses, you will learn about models and theories and read cases that require you to think strategically. The cost of an MBA college in USA can vary widely depending on the
the program you choose.

These learnings will help you assess your resources and develop strategies to counter your threats. When you learn how to plan strategically, you can also anticipate business failures. Doing this can help you cut back on potential losses and develop strategies that help the business excel in the long run. 

5. Time Management

If you have the skill to manage your time effectively, you can succeed as an individual, entrepreneur, or corporate employee.

When pursuing your MBA, there will be multiple instances when you have limited time to submit your projects. Your teacher might form teams to discuss and present a case study before the class ends. You might be reading through tons of papers for a project due before the weekend ends. Although it might seem like a lot of work, an MBA can help you to prioritize tasks. It can also help you learn how to quickly review a ton of material before an important meeting.

Additionally, if you’re enrolled in an online MBA, you might have a job to manage alongside the course load. Soon enough, you’ll find yourself using project management applications to manage your time. Sure, it might take some time, but you will learn how to juggle your personal life, work, and coursework, developing invaluable time management skills. 

Conclusion

Given today’s transformative and innovative business sector, most individuals aspire to secure a stable position in this field. But it demands exceptional skills, capabilities, and a vast knowledge base. Earning higher academic credentials is the best way to establish yourself as a crucial asset in your organization. 

An MBA degree instills professionalism in an individual and equips them with essential skills. For people in technical fields like software development, an MBA is crucial to develop leadership skills that will help advance to the next level. An MBA also instills impeccable time management skills, strategic decision-making, flexibility, adaptability, and more. And since eLearning has made knowledge acquisition easier, you can pursue online MBAs to sharpen these essential skills.