Is an MBA Still Relevant?
A 2 year MBA doesn't only cost an arm and a leg but in most cases puts you out of the workforce too long, that is both unnecessary and damaging for career prospects today. No wonder it's losing favour with a workforce that is looking for maximum, targeted impact.
Fortune reports that,
The hyper growth of the MBA degree, making it the most popular graduate degree in the U.S., has stalled.
Meantime, enrollment in many part-time MBA programs—long a profit-making mainstay of business education—has been sliding as well.
Against this sobering backdrop, however, alternatives to an MBA are multiplying in business schools, as increasing numbers of specialized master’s degree programs offer a quick ticket to a job.
What are the key reasons for this new trend?
MBAs are only half as effective today -- two-year programs teaching courses that are theoretical and with content that is available on Coursera is no longer a value proposition.
Paying the 6-figure USD price tag for access to "the networks" during an MBA at a top-tiered university is no longer cutting it for many.
Lack of practical knowhow on technological advances in areas like data science, robotics, automation and cybersecurity -- all key issues a business leader in the new economy will face.
A 2-year MBA, even a part-time one, is delaying action on the startup idea or business process /product implementation - a no-no for the on-demand generation.
The traditional MBA is being disrupted by targeted learning that helps:
Mid-career professionals up-skill, and come up to speed with technological and business advancements through a practical, hands-on approach.
Candidates understand not only new-age platform business implications but the convergence of technological breakthroughs that are set to impact all verticals and business stakeholders.
Candidates launch their startup idea alongside business, tech experts and peers.
Create an extension of the workplace for those working on a new business product / revenue for their current organisation.
Deliver on flexibility needed for maximum impact to industry or startup in the minimum time.
The new age of work and business is necessitating a fresh look at traditional MBA programs.
It's relevant more than ever to question old norm and steer towards the future.
Tech Futures Lab is offering an innovative New Master degree that is a game-changer for New Zealand, co-designed with its partner Unitec Institute of Technology. The flexible and intensive specialisation will help candidates link successful business decisions with technological advancement and innovate in a shifting business landscape --- all while working on a work-based project or a startup idea. Applications open for Feb 2017 intake. Early bird pricing and applications due Dec 22, 2016.