Abstract
The MBA programme is critical in developing professional careers and managerial competencies in the business sphere. The programme positions the self-mad leaders near other MBA students at the global level who have different perspectives and work experience on the world’s economy. The MBA students have the capability of expanding the knowledge they have to other industries at the global level. Self-made leaders are supposed to be offered a chance to study the MBA since they already have practical management skills to enable them to perfect them without having to pursue an undergraduate degree that is not of help to them. The study considers a cost-benefit analysis that offers more relevance. The cost-benefit analysis can allow organizations such as NADA to evaluate their offer regarding their suitability. The study considers both qualitative and quantitative research designs. Multiple qualitative research methods are used in analyzing and collecting data that is non-numerical to understand the experiences, opinions, and concepts effectively. The essential qualitative methods include secondary research, surveys, focus groups, and interviews. The quantitative methods focus on numbers and figures to allow the data to be analyzed by statistical methods. The sample frame involves individuals working in managerial, executive, and high-level capacities managing about five employees.
Introduction
An MBA often prepares people to exploit management positions in multiple industries. The institutions specializing in offering the course usually emphasize motivation, professionalism and skills before education. The programs offer substantial career preparation focusing more on essential skills in the real world. The program is critical in developing professional careers and managerial competencies in the business sphere. Recently, the program has attracted criticism from multiple quarters regarding its value to the graduates who pursue it. However, the program presents itself as a viable avenue through which self-made leaders can substantially navigate the hierarchies that are socially based for prestige or dominance. The self-made leaders will realize prestige by allowing them to have values, traits and skills to allow others to follow the course. The prestige will involve the realization of admiration and respect. The strategy is not force related since it allows the individuals to be different from other self-made leaders based on the knowledge that can attract emulation and respect. Unfortunately, in the context of MBA, dominant women are often disliked though they are perceived to be competent and always assertive in accomplishing their duties (McClanahan, Maner & Cheng, 2022, 4). Thus, both men and women who are self-made leaders are appropriate to be Offred the MBA degree to allow them to be more dominant in their careers post the MBA degrees.
The MBA degree has multiple benefits. Completing an MBA programme illustrates a commitment to applying, improving and learning skills that can enable an organization to succeed. Individuals with the degree usually have high confidence levels regarding their marketability and the information they will bring to a particular enterprise. The degree has the capability of assisting self-made leaders in having a better understanding of how teams work. The degree’s knowledge demonstrates that everything is a negotiation. All the operations are made to be in line with the returns on investment that the commercial venture will be able to realize.
Similarly, the degree equips people studying it with an understanding of the factors that motivate people within the organization, how to have effective communication and how to show respect to the ideas and opinions of other people to ensure there is participatory leadership in the organizational settings. The programme positions the self-mad leaders near other MBA students at the global level who have different perspectives and work experience on the world’s economy. The MBA students have the capability of expanding the knowledge they have to other industries at the global level. Since, in most cases, individuals pursuing the MBA degree usually have at least five years’ experience, self-made leaders are the appropriate candidates for the degree due to their success in the business world without academic knowledge in their areas of practice.
Problem Statement
Most of the research studies have focused on the impact of the MBA program on human capital. The studies have found extensive evidence regarding the degree’s relevance to individuals’ professional engagements. The studies further find out that the program substantially affects crucial dimensions of human capital that involve social-cultural, intrinsic value and educational dimensions (Marino, Rivero & Dabos, 2019, 1). The program covers the essential functions necessary in business management, specifically for individuals with sufficient work experience that forms the basis of the learning process. It is estimated that about 500 000 individuals graduate from the program annually. The high number of people graduating from the course clearly shows that6 the program is relevant in managerial training. MBA intensifies the acquisition of skills and internalization of the business context essential in performing managerial functions in organizations. The primary management skills developed are teamwork, leadership and utilizing techniques such as practical applications, a combination of theory, technology management and statistical analysis.
Moreover, despite the significant prestige that often accompanies the degree relating to the ability to offer a systemic vision to the executives, the program is facing multiple criticism and objections. The relevance of skills and training quality is continuously being questioned. The students who are studying the course are, in most cases, being offered soft skills rather than the complex skills required to successfully conduct managerial operations. Other studies demonstrate that there is a wider gap between the reality in the typical organization and the curriculum structure of the program with more emphasis on the scientific nature of management (Marino, Rivero & Dabos, 2019, 2). The curriculum often needs more relevance in the managerial practice in organizations. Thus, the paper argues that self-made leaders have actively developed work-related skills and specializations in work settings. They have the necessary work experience that the MBA learning process can develop.
The costs involved in studying MBA ranges between $40000-$150000 relative to the school and programme one is interested in studying in. The graduate tuition for studying the MBA is relatively high relative to the undergraduate degree. Thus, the paper argues that when the costs of the two degrees are combined when self-made leaders want to further their education, they will be extremely high. Other costs will be attributed to the time in pursuing the two degrees. It will take about five to six years to complete the two degrees. Multiple direct and indirect costs will be incurred before the completion of the studies. The expenses accumulate relative to the way one considers their mitigation. Self-made leaders are supposed to be offered a chance to study the MBA since they already have practical management skills to enable them to perfect them without having to pursue an undergraduate degree that is not of help to them.
To some extent, there is a difference in cost benefits of studying an MBA by self-made leaders relative to when they would have studied for the Bachelor’s degree before they can pursue the MBA. The cost benefits are directly associated with the ROI, the actual value of the degree and the features of the individual MBA programmes pursued by the students. The ROI considers the programme’s suitability, the specialties and electives, networking opportunities and the career sacrifices associated with the programme. Moreover, self-made leaders will be better positioned to work with other MBA graduates to take their business to another level. They will have the same level of expertise and knowledge base that will allow them to share knowledge. Teamwork thinking will position the organization in a better place than other organizations in the same line of expertise.
Nevertheless, the National Automobile Dealers Association (NADA) has a fantastic offer that allows thousands of professionals who need a bachelor’s degree to enhance their experience without the expenses and time associated with the Bachelor’s degree. The organization seems to be facing multiple issues regarding its suitability in offering the particular master’s programmes to individuals not having a Bachelor’s degree. The paper argues the suitability of NADA regarding the factors it requires to be aware of, more so the costs involved in offering the courses. The organization should be aware of the available demand regarding pursuing the MBA by an individual not having a Bachelor’s degree. NADA has partnered with educational institutions, including Babson College, to offer MBA degrees directly associated with entrepreneurship, management and leadership to allow the leaders to survive the tough times. The institution has recently been ranked as one of the best educational institutions offering the course. Joining such institutions will allow business leaders to develop fresh ideas that will allow them leaders to take their businesses to the required levels. Most o the programmes offered by NADA are a blend of weeklong and online coursework that allows the students to meet with their professors to learn the key segments and information relating to their particular industries.
Research Questions and Objectives
Main Research Question
What is the effect of pursuing an MBA by self-made leaders before having a bachelor’s degree on their own and organizational financial returns?
Research Questions
- Do self-made professionals need to study the Bachelor’s degree before they can have the MBA course?
- What is the cost of disruption of allowing the self-made leaders have an MBA before they can have a Bachelor’s degree?
- What are the motivating theories propelling the self-made leaders to consider having MBA over the Bachelor’s degree?
- What is the cost suitability of National Automobile Dealers Association in offering the MBA to the self-made leaders in the US relative to its typical utilization of channels and relationships with other international universities to crack through the system to offer viable options to the individuals who do not see value in the current Bachelor’s system?
- What is the cost value of self-made leaders having an MBA relative to the cost benefits of having a Bachelor’s degree?
Research Objectives
- To find out if the self-made professionals need to study the Bachelor’s degree before they can have the MBA course
- To quantify the cost of disruption of allowing the self-made leaders have an MBA before they can have a Bachelor’s degree.
- To synthesize the motivating theories propelling the self-made leaders to consider having MBA over the Bachelor’s degree.
- To find out the cost suitability of National Automobile Dealers Association in offering the MBA to the self-made leaders in the US relative to its typical utilization of channels and relationships with other international universities to crack through the system to offer viable options to the individuals who do not see value in the current Bachelor’s system.
- To identify the cost value of self-made leaders having an MBA relative to the cost benefits of having a Bachelor’s degree.
Justification Of Study
The study is critical for the self-made leaders. Getting the MBA degree is a logical step in enhancing their careers. The benefits of studying the relevance of the degree to them are applicable to them despite the professional and industry focus. The MBA will allow the self-made leaders to learn the principles of business and establish robust skills necessary in leadership. The MBA will offer bigger pay checks access to different job opportunities and a robust professional network that the self-made leaders will utilize to take their business to the next level. The benefits will manifest over time allowing them to be experts in the field who can be consulted for important issues.
The study considers a cost-benefit analysis that offers more relevance. The cost-benefit analysis has the capability of allowing organizations such as NADA to evaluate their offer regarding their suitability. The evidence-based and agnostic evaluation of the priorities is allowing the organization as a commercial venture to be logical and data-driven. The self-made leaders can easily uncover the hidden benefits and costs through the compelling nature of the technique to outline all the potential benefits and costs that will be associated with pursuing the MBA. Moreover, the stakeholders involved in the offering higher education will have simplicity in making decisions since they will have a scholarly knowledge. The simplicity in the decision-making process will decrease to potential costs and increase the potential benefits.
The study is contributing to the elimination in literature gaps. No study has been conducted focusing on the relevance of the MBA on the self-made leaders. It will offer critical information on the suitability of the programme on the self-mad ladders and how it will be necessary in their typica management operations. The studies that have been already conducted are characterized with conceptual, contextual and methodological limitations. The studies that are associated with the research topic are having flaws regarding their sampling, research approach, and research design. The study is set to have a better research design and sampling approach that will have sufficient sample size that can ensure generalization of the research findings across different industries and regions of the world. External factors have changed over time due to issues such as Covid-19 making the past studies relevance to be non-existence. The study is being conducted post the Covid-19 to understand how the self-made leaders can enhance their skills in the face of the regulations relating to the pandemic. Besides, the past studies have been mainly concerned with the criticism that the MBA faces they have failed to go further to identify the suitability of the MBA to special groups such as the self-mad leaders.
The study is important to professional development. The study has the capability of leading to self-sufficiency. It enhances the potential of ferreting out information relating to the research topic with an extensive functional analysis to have more understanding of the subject that is being evaluated. The current conversations relating to the topic are identified allowing the identification of the incongruity and congruity regarding the topic of different scholars that have studied it. The development of the basic library skills is a prerequisite of developing into an individual who is self-sufficient.
Bibliography
Marino, J., Rivero, A.G. and Dabos, G.E., 2019. MBAs and career development: a literature review from the human capital perspective. Cuadernos de Administración (Universidad del Valle), 35(64), pp.110-127.
McClanahan, K.J., Maner, J.K. and Cheng, J.T., 2022. Two ways to stay
at the top: Prestige and dominance are both viable strategies for
gaining and maintaining social rank over time. Personality and Social
Psychology Bulletin, 48(10), pp.1516-1528.
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