Training up

Nigel Banister explains how globalisation and the economic downturn have made the recruitment market more competitive than ever and how an MBA could help executives get that all important edge.

With the world economy in recession and job cuts in many sectors, some might think that doing an MBA might not be of much relevance in the immediate future. The MBA industry is no stranger to recession and turbulence. Previous economic downturns and difficult economic times have in fact traditionally heralded a surge in applications, as people identify a natural opportunity to take a career break or to improve their skills. The burst of the dotcom bubble for instance brought many executives to business school campuses.

It is unclear what the future holds but one thing can be certain, there will always be a need in the economy for skilled and experienced managers able to work in an international environment.

Many graduating MBAs are now obviously anxious about recruitment. Nonetheless, companies are still hiring, despite the difficult conditions and an MBA will always be of benefit, in particular for those who have just enrolled or are considering entry into a business school this year with graduation in 2011 or 2012 when the economic climate will be very different and recruitment will be active again.      

The current crisis is not going to reverse the trend for globalisation. We live in a global age and it is imperative that executives are able to operate in an international context evolving in and leading multicultural teams, suppliers, contractors and clients. In a global economy, corporations have a seemingly insatiable need for good managers. This is a trend that will only gather pace in the years to come.

So I expect that the MBA will retain its status as the 'hot ticket' in postgraduate management education and European business schools will prevail, as they are already catering to diverse cultures and have a more global outlook than US business schools. Indeed, our students are usually multilingual and are very often seeking to work in another region of the world. They are generally open to the idea of job flexibility, which is essential in today's volatile economic climate.

Given the economic turbulence, many will opt for a general MBA that provides the basic tools for students to enter a wide range of sectors. Some students may opt for specialised programmes, enabling them to refocus or redirect their careers towards a specific industry. 

Employers are becoming increasingly discerning and looking more closely at the additional value MBA graduates can bring to a role. So it is vital that executives planning an MBA select a programme that takes them in the desired direction.

Some will decide on a one year/18 month full-time programme and others for a longer, part-time, blended learning MBA, which allows them to continue to work whilst studying.

Part time/blended learning students tend to have a wider age range than participants in full time programmes, and choose this option to overcome logistical challenges, avoid the need to take two years off work and to benefit from applying their new knowledge immediately.

The integration of technology is helping to facilitate this option and much of the work is still done collaboratively by students via the web, with several face-to-face workshops every year. And the part-time programmes are generally about 50 percent cheaper than the full-time equivalent, whilst the MBA degree awarded is exactly the same as for the full-time programme. 

A part-time MBA is not an easy option, as it demands the combining of work, study and often family commitments, but our experience shows that most students complete their studies successfully whilst often having been promoted at work or moved to a better job in another organisation.

The most effective MBA programmes have a diverse international mix and attract professionals with strong work experience, establishing an extensive global network of contacts that will be invaluable in future careers.

MBAs are not a career panacea but in the current competitive market place, an MBA from a well-respected business school sets an executive apart by giving him/her the business agility to succeed.

For more information visit: www.mbs.ac.uk/dubai.

Nigel Banister is Chief Global Officer of Manchester Business School (MBS), the UK's largest campus-based business and management school. It provides a comprehensive range of undergraduate and postgraduate programmes as well as customised executive programmes for organisations from both the private and public sectors. Manchester Business School Middle East Region International Executive Centre was established in Dubai in 2006 and currently supports more than 700 MBA students from across the region.