Graduate management education

• Published date: 20 May 2022
• Publication title: Mail & Guardian: Web Edition Articles (Johannesburg, South Africa)

The world is changing rapidly, and neither the educational landscape nor the world of work are exempt from these shifts. One thing, however, has not changed: the MBA classroom is still the firepit where industry leaders are forged, where careers are launched to new heights, and where sustainable success is nurtured

Career advancement is the prime motivator for pursuing graduate management education, but a report published by Dell Technologies and the Institute for the Future states that 85% of the jobs that will exist in 2030 do not yet exist. For this reason, recruiters and industry leaders say that a shift towards lifelong learning means that the Master of Business Administration (MBA) and other mid-career postgraduate qualifications are more valuable now than ever before.

An MBA is still widely regarded as a ticket to the C-suite and a sure way to fast-track career advancement for those aspiring to senior management or executive corporate positions. The qualification is also suitable for smaller, progressive companies and entrepreneurs. According to the University of South Africa, an MBA degree is specifically structured to turn a manager into a holistic leader capable of steering an organisation and its people to success.

More than a classroom

The business leaders of today — and those of tomorrow — know that learning cannot be a once-off engagement; instead, success is an ongoing process of learning and unlearning, imagining and reimagining, creating and recreating, informed by ever-changing corporate trends and the fast-paced transformation of workplace needs. To stay abreast of these local and global shifts, adaptation is key.

Impactful business schools have evolved their classrooms into problem-solving machines that churn out solutions for both industry and social challenges. These institutions help students develop innovative and long-range decision-making skills to mitigate risks and identify opportunities, all while learning to deal with rapid change and increasing complexities.

Spokesperson for the Department of Higher Education and Training (DHET), Ishmael Mnisi, agrees that institutions of higher learning have a responsibility to do more than just equip their students with competencies: "They should not only provide the knowledge and skills required by the economy, but should contribute towards the development of thinking citizens who can function effectively, creatively and ethically as a part of a democratic society, and who can participate fully in its political, social and cultural life."

The pandemic effect

The Covid-19 pandemic forced many people to reevaluate the situations they found themselves in and their future prospects as they sought to cement their relevance and secure their spot in the workplace of the future. It forced mid-career professionals to explore new directions and new roles. It also inspired some professionals to take advantage of the changes and to set their sights on advancement within the spaces they already occupy, propelling their careers to new heights.

The Graduate Management Admission Council (GMAC) is an international non-profit organisation of business schools that serves academic institutions and prospective graduate management education students. The 2021 GMAC Corporate Recruiter Survey found that corporate recruiters project a robust demand for business school graduates, with nine out of 10 recruiters expecting this demand to increase or remain stable in the next five years.

The report also states that hiring projections have rebounded, with the proportion of recruiters who planned to hire MBAs in 2021 (91%) returning to the same level as pre-pandemic 2020 (92%). The study also found that the MBA salary premium has held steady at the pre-pandemic levels, with MBA graduates earning 77% more than those with a bachelor's degree, and 53% higher than those hired directly from industry. According to the report, "these salary premiums could help an MBA graduate earn $3-million more than someone only holding a bachelor's degree".

Despite the changes that the pandemic brought, the MBA remains known as a remarkably resilient academic beast, continuing to draw the cream of the crop since it was first offered at Harvard University more than a century ago.

— Jamaine Krige

——————————————————————————————————————————————————————————————–

A silver lining to the Covid cloud

Yorika Kesari always suspected that she would end up pursuing an MBA degree — she did not know that it would take a global pandemic to spur her into action. As hard as Covid-19 and its impact has been on the client success manager, who works in the customer experience (CX) space at a product software company, it also gave her valuable insight into her professional goals.

Kesari believes that there is value and merit to gaining work experience before embarking on a postgraduate business qualification. "Experienced people often find it easier to apply what they have learnt in a way that can be used in the workplace," she explains. "Experience also makes it possible to add a meaningful real-world perspective to classroom discussions."

Client success manager Yorika Kesari says that the pandemic revealed the need for agile and adaptable leaders, who can step up and work well in a crisis

But, says the 35-year-old MBA student, if the global health crisis has taught her anything, it is that sometimes the best time is the present, and sometimes one needs to step up and become the leader you need: "The pandemic showed us the need for agile and adaptable leaders who can step up and work well in a crisis, and fortunately Covid-19 had a positive impact on my life, forcing me out of my comfort zone and allowing me the opportunity to take the leap and further my education."

Despite her fears, she decided to apply for her dream qualification, spurred on by her family and partner at the time, and equipped with the self-development and interpersonal skills that she had been working on mastering with her mentor and private coach. "Once I pushed past those initial steps, I then had no doubt that this was what I wanted — and needed — to do," she explains.

It has not been an easy journey, but Kesari is steadfast and does not doubt her choice: "An MBA teaches one how to work with a diverse range of people, cultures and working styles, while gaining a better understanding of career opportunities. I'm developing skills that immediately rid me of previous limitations and teach me things I never knew existed."

One valuable lesson has been the importance of peer support and networking. "I didn't understand it at first, and I underestimated how important and supportive my cohort would be; I tried to research and study by myself," she explains. "I was drowning with the workload and felt overwhelmed. It wasn't until I started networking with fellow colleagues that we began to close the knowledge gap and build on each others' experiences." Fortunately, she adds, her group is a team-oriented one, and each person helps keep the other organised, focused, motivated and accountable. "Above all," she adds, "we keep each other sane."

She knows that a commitment to lifelong learning is non-negotiable for those aspiring to leadership: "Education is an important part of success in today's business world; it is very competitive out there and the more educated you are, the more likely you are to get a good job. An MBA degree is prestigious and accepted all over the world, and provides an array of opportunities, both locally and internationally. It also prepares students to take on leadership roles beyond business."

Kesari says this is especially true of a South African MBA. "We gain a unique and hands-on experience with a strong focus on leadership and sustainability, and an amazing opportunity to tailor our degrees toward the improvement of the African economy," she explains. "An MBA is the best qualification for those who understand and revel in the pleasure of working with others: it is supportive of human-centred leadership, which is a key trend and a focus globally in recent years."

She is optimistic about her prospects after graduating, and the impact she strives towards going forward: "This programme allows me the opportunity to explore the latest international business trends, apply brand new management tools and techniques, and challenge myself and the status quo to improve business, teams and collaboration. The MBA is the best way for me to prepare for a changing business environment, and the skills I am developing are also the most potent tools to adapt to the inevitable changes in the way industries, markets and people do business. As an MBA student, I also have access to great networking opportunities, and I know these connections will serve me going forward."

Perhaps most exciting, says Kesari, is the new insight she gained into her work and the opportunities that lie ahead: "The MBA has taught me that my career isn't a ladder; instead it is a jungle gym, where I can move between different roles in all directions, and challenge myself by taking on new challenging projects with confidence and a sense of adventure." — Jamaine Krige

——————————————————————————————————————————————————————————————–

Climbing the ladder of success

A professional journey does not have to be linear, says Nashreen Arnachellam. With a BSc in Health Sciences she first went to work in the UK as a fitness instructor. Soon after returning to South Africa, however, the Sport Science major found herself working as a customer relationship manager. She knew it was time to step out of her comfort zone when she found herself falling into a sense of complacency; she decided to enrol for an MBA and return to the classroom after more than 15 years.

Nashreen Arnachellam says studying for an MBA gave her the opportunity to build a lifetime network of like-minded people, from alumni to colleagues to lecturers, whom she knows will continue to help shape her life

She failed the...