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Old 19th February 2005, 03:15 PM   #1

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Smile Do you think an MBA degree is necessary to build a successfull business?

In my opinion, an MBA degree is going to be very BENEFICIAL for you in terms of how it shaped your business mind and the connections you'll develop while in the program.

How an MBA degree shapes your business mind?

When you're getting your MBA, you'll learn every subject related to money from the scratch again. So, you'll learn accounting, finance, organizational behavior, operations and research, etc. By saying shaping your business mind, I mean it covers your basic business knowledge, NOT your entrepreneurial knowledge. Your entrepreneurial spirit won't develop that much; however, it's your job to improve your way of thinking by yourself, e.g. reading Rich Dad's Series and grab its important concepts about starting a business, etc.

Why is it important to gain connections with other MBA students?

If you observe or experience it by yourself, Yes, most of MBA students are gonna be managers after they graduate. However, for most of them, deep down inside they know that one day they have to start their own business. C'mon, they're SURELY exposed to many concepts not to forget Rich Dad's. They SURELY know that they have to invest and let their money work for them. Believe me, MBA students are not ordinary students. They are those who really know about financial knowledge or business knowledge than most of us here. That's why you have to build relationship with lots of them because they're the ones who'll rule the economy one day, esp. the big companies out there.

Just my 2 cents.

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Old 19th February 2005, 09:20 PM   #2
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Default Hmmm...

I know plenty of educated people that are out of work... or in menial jobs.

More important than education is 'imagination' followed closely by 'determination'.

I worked in the casino industry for 35 years or so... and the educated people really know how to screw up the business. The casino buisness is NOT a money business, it is a 'people' business... and accountants ect can never get a grip on this.

The casino business is a simple business, made difficult by educated idiots. All it needs is happy staff and happy customers... and the 'money' takes care of itself. Once you start cutting costs, lowering salaries, cutting staff, skimping on complimentaries... you no longer have happy staff or happy customers... sure you "saved" money... BUT, at what cost???

My two cents worth.

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Old 20th February 2005, 08:48 PM   #3
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I'll ditto the pp. I know quite a few folks with MBA's...only one of them is actually using it. In fact, of the two dozen or so friends I have from college, only a handful use their degree at all.

I think determination and resourcefulness can take you quite a bit further than "book smarts"...if you're running your own business. If you are working for someone else, I think the MBA probably comes in handier.

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Old 22nd February 2005, 05:32 PM   #4
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Education is a wonderful thing. Degrees of all levels can open doors that would otherwise be closed. However, I think getting an MBA for the sake of having an MBA (which is what most of my friends did) is useless.

One friend just wanted to stay in school and an MBA was the next step. With her Masters degree she has held jobs as a lower-management employee, as a website designer and now she generates reports (repetitive work).

The other, however, is a teacher and specifically got her MBA so she could further her career. She uses her degree and it got her a massive raise once she completed her studies.

I think experience is much more valuable than a degree, personally.

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Old 22nd February 2005, 06:57 PM   #5
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Well I had alcoholic parents, on one academic year when I was 14 I actually went to school on 32 occasions (thats 16 whole days as a day is 2 occasions). I educated myself, left school with like a couple of rubbish certificates (apart from matchs which i found easy so taught myself from books I got an 'A') .

Having no qualifications never held me back apart from in the one area that it took me a long time to overcome it in, The area between my ears that is. I never really thought I was worthy, it took me a long time to realise my worth. I went through a patch when I thought I deserved a degree, or an MBA etc, then I got through it and realised that it mattered not an ounce if you are the master of your own ship called destiny, then why do you need a certificate that tells others you can steer it?

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Old 23rd February 2005, 08:59 AM   #6
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Originally Posted by swahyudi
Do you think an MBA degree is necessary to build a successfull business?
Necessary? No.

It can help but is like anything else.

A person can take all the diet pills in the world but if all they are going to do is sit around eating Krispy Kremes and not do any exercise, then the diet pills are going to be of little effect.

Same with a MBA. It takes a unique individual to start and run a business. A MBA can help but many people run successful businesses without them. In other words, a MBA is not a guarantee that a person will be successful in business. There are so many other contributing factors involved.

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Old 23rd February 2005, 12:20 PM   #7
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An education never hurts, however, it is not necessary to run a successful business. In fact, the most successful people I personally know never had a college education at all.

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Old 17th March 2005, 11:24 AM   #8

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I agree

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Old 17th March 2005, 01:54 PM   #9
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Only necessary if you want to work for a large corporation (maybe).

The degree you need to run your own business is the degree of SELF. Know yourself, your strengths and weaknesses. Use your strengths and hire for your weaknesses.


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Old 18th March 2005, 01:04 PM   #10
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Default All you need for business

All you need is a good knowledge of accounting, in other words know how to read and interpret a P & L statement and a Balance Sheet, and become a well read, rounded person. Go to a good liberal arts college, and learn about people. Business is mostly about two things: money and human relationships, and the latter is often more of a key to business success than even money.

I write about this sort of thing in my blog businesswisdom.blogspot.com. I think you'll find it down to earth and maybe helpful. I've been to a famous business school where I acquired some tools, but in business it was mostly common sense, recognizing the importance of others both inside and outside the company, being on top of things, and learning through experience that helped me solve most of my company's problems.

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