Executive Education MBA - Why Back to School is Good Business?
by Courtney Vogt
As managing director/shareholder at UHY Advisors, Rod Cooper had a great job with loads of responsibility and a great track record of success. But something was still missing. What could help him achieve more on the job today and, at the same time, help his career in the future?
The answer: An MBA.
The decision to go back to school isn’t an easy one—especially for small-business owners. Deciding if an MBA is right for you and your business raises a multitude of questions. Do I have the time to balance work, home and school? Will an MBA benefit my company? Do the pros outweigh the cons?
After many years of consideration, Cooper decided to return to the classroom. He earned his MBA in March 2006 from Lindenwood University. He says that the degree has granted him many benefits—both personally and professionally. Cooper says that the most important thing he has gained is “a deeper knowledge in the firm’s overall growth and profitability strategy.”
He says that as a consultant, education is as important as experience. He also notes that the process of earning an MBA has opened his eyes to many of his own undertakings. “I found that there were areas I was completely overlooking.”
Cooper’s not alone. Many business owners and business professionals are considering returning to college and earning a graduate degree. Careful evaluation of your particular situation should help you decide if earning an MBA is the right path for you. Who should go back to school—and who shouldn’t?
“People should commit only after they have researched the program, its intended outcomes, and its track record of success.” says Joseph Fox, associate dean and director of MBA programs at Washington University. “Then they need to evaluate if those program characteristics, goals and outcomes are consistent with what they are looking for.”
After you’ve evaluated your own situation, decide if the process of earning an MBA is something that would be a benefit to you and your business.
“The MBA trains people to understand, evaluate and solve complex business problems,” says Fox. “It also trains them in a wide array of tools and functions. Most importantly, it teaches them to integrate these into a solid approach to problem solving. So it is the tools, the functionality, the confidence and the ability to bring them together that marks great MBA programs and great MBA Grads.”
Research is key. Fox explains that finding the right college or university is sort of a matchmaking process, and it is crucial to a potential student’s success.
“It’s all about the fit,” he says. “Does the program make a good fit from the standpoint of the curriculum, the environment, the people and the outcomes? Find your match.”
Steve Hinson, director of MBA programs, Webster University, explains that many things should be considered before choosing a college or university. “Choosing the correct institution is particularly important. Not only is cost a consideration, but also length of the program, convenience of the scheduling, and ‘theory vs. application’ orientation.”
Once a match has been made, the business owner should actively work to apply classroom lessons to his or her company. According to Hinson, many business education programs have corporate orientations. However, with a little extra effort, they can still be extremely beneficial to entrepreneurs.
“The business owner will have to make a particular effort to find the applicability of the material to their respective enterprise,” says Hinson. “This can be accomplished by carefully selecting elective coursework and engaging the faculty directly about the particular business problems their business faces.”
Carnival of Careers in Middle Age #2 has chosen this article as one of its “best of the week” (May 13th) picks. You can see it and many other wonderful, inspiring and informational articles at Wesley Hein : LifeTwo.
Personal Growth Carnival #41 has chosen this article as one of its “best of the week” (May 21th) picks. You can see it and a plethora of many fantastic articles including Bryan’s top three pick over at Bryan C Fleming.
on May 22nd, 2007 at 8:16 am
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