In the current times where the definition of work is changing and multiple new fields of job and enterprises are emerging, choosing a degree program is not simpler and the same as in previous times. These times are called the VUCA times i.e. Volatile, Uncertain, Complex and Ambiguous. Choosing a one-degree program can be daunting if not considered thoroughly. Also, the decision of degree involves a factor of affordability as degrees cost on a higher scale, and the amount of time a person needs to invest in it. Although, on the other side we have seen the emergence of variety in study programs too. A lot of universities are offering courses in varied fields of social sciences, technology and focused discipline of business and related industries. Technological development has also enabled us to pursue higher education in non-conformist ways like there is a surge in student numbers enrolled in mba online programs as opposed to conventional classroom-based degrees, which provides access to universities and institutions across the globe without the hassle of commute, travel, and logistics. Subscription-based pricing has also emerged to make it affordable for every student.
However, even in such unusual times, the approach to choose a degree program has pretty much the same fundamentals i.e. value for money, right skill set, knowledge, exposure, placements opportunity, etc. There is an abundance of career options available and there are already competent and experienced people working in the workforce of the world. If a person is interested in going in the world of business or to study the business side of every industry in general, a degree in business administration is nearly a perfect choice. Despite the matter, it is an expensive choice and being pursued by a large population already, Bachelors or Masters in Business Administration is a good choice as it has great potential and it checks out the majority of boxes in the benefits list.
Let’s explore multiple reasons why it is still a popular choice and a good option to pursue:
Training as an Entrepreneur: BBA and MBA provide the right mindset and temperament to become an entrepreneur. It delivers the required knowledge, skill sets, and practices to a person to run his/her business effectively and efficiently. In a comprehensive degree program, an individual is trained in planning and management especially financial management which is considered to be mandatory in running your own business. Also, during the course, studying about various businesses provides a wider horizon to approach and multiple perspectives for an entrepreneur or wannabe to run a business.
Networking Opportunity: It is said that “Your network is not net worth.” In the professional, sometimes who you know brings more value than what you know. Pursuing an MBA or BBA provides more than ample occasions and instances to build valuable networks and alliances. In the journey, a student typically meets numerous sorts of people like industry practitioners, professors, recruiters, counselors, trainers, investors, key-note speakers and many more. Plus, then there are fellow batch mates and colleagues who will eventually become part of the workforce in the future. This will create various employment opportunities as business partnerships for your ventures too.
Also, such networking possibilities can help you to find valuable mentors who can guide and support you along with your professional careers. Such alliances usually help you to find an internship and apprenticeships to learn along the way.
Practical Skill Set: Business Degree is a practical skill set with a comprehensive application and needs in the market, as opposed to some abstract education like philosophy or arts, etc. Almost every company or industry has a business side and needs business skills to prosper. And people with wide-ranging skills of business get plenty of opportunities to work in business at multiple positions due to that.
Specializations Possibilities: Business studies and its related applications are far-fetched and have more than limited options to pursue if someone is interested in pursuing specializations. It seems easy to decide and opt but it is not. A lot of people are unsure about what they want to pursue. In such situations, a business administration degree is a safe bet. As it provides a general understanding of the business and industries. One can choose to specialize in strategy, human resources, accounting, finance, marketing, supply chain, etc. after majors in business administration as per own career goals, temperament and aspirations later on.
High Salary Prospects: It is one of the main reasons that a degree in business administration attracts much fame and popularity in the education field. If you can simply research on the pay scales of professionals working around, it is evident that degree holders of business administrations are compensated higher than other degree holders, in some cases the difference is doubled among them. And these comparison results are valid in both the public and private sectors.
Flexibility: A lot of business administration degree programs offer greater flexibility and convenience in the pursuit. Numerous students can start a business administration program alongside their already employment, as various universities offer weekend programs as well as evening classes. There are also part-time and full-time courses being offered so that students can pursue their degree program as per their comfort without getting the heat of stress and inconvenience while continuing it with their other commitments.
Authority and Credibility: Since business administration degree programs offer variety and diversity in courses and subjects to learn the dynamics of the business, a degree holder in such discipline is more or less certified and has enough command over the business activities. Due to such extent, BBA or MBA is highly recognized across the world and ensures credibility, which can help in pursuing other career fields as it compliments other professions and virtues.
Personal Development: With such a variety of horizons to study and explore in the business degree program, a student gets developed immensely on the viewpoint on work, life, and business. It also develops their communication skills, analytical thinking skills, creativity, professionalism, etc. This degree program provides in-depth insights into their industry, tough times and possible changes lying ahead in the world due to technological disruption and changes overall.
Preference over other Candidates: Usually BBA or MBA degree holders get preference over other degree holders in the employment market as they have better training and understanding of the business through their degree program. They are also preferred because they are usually equipped with practical skills like quick budgeting exercise over spreadsheets or product demonstrations over slides of presentation to potential clients etc. Also, due to its worldwide recognition and comprehensive course outreach, they subconsciously get an edge in the eyes of recruiters and business partners.
Conclusion
Conclusively, it is really important to realize the pros and cons of the field of business administration before going for it. It is indeed an expensive choice but it is worth spending money and time on. You need to get educated in a better way to keep up a good position.