Is this a zoo or an MBA blog? Aha, read on!
For some of you unfortunate ones who know about the BCG Matrix – let me tell you, that’s not even the M of the MBA you want to do, and for those of you who don’t – fret not, you are not any less prepared than the previous lot!
The BCG Matrix is a very popular term in Marketing. It is basically a two-by-two matrix where… Okay wait, I’ll just put the picture in. Much better!
An MBA equips you with useful (not really) frameworks like BCG’s Growth Share Matrix which allows you to analyse a company’s product portfolio on the axes of growth vs market share.
Looking at today’s MBA market (yes, it is a market - they’re doing a business of teaching you to do business), we might say that MBA is a “Cash Cow” for those who already have one. MBA currently has a good market share but is not growing much, because there are a lot of new, innovative and niche courses coming in. So it’s potentially heading towards becoming a “Dog” soon – low growth and low market share.
Is it really THAT bad? No, I’m myself joining an MBA programme soon!
For many people in the corporate world these days, an M.B.A is like a financial product. The hefty fee is a good investment if you get a proportional ROI (Return on Investment) a.k.a placement package. But as newer technology comes in, more and more jobs require lesser and lesser human intervention, so it may have less value tomorrow than it has today (and that sounds dangerously close to the concept of Time Value of Money). If you want to see what experts have to say, read this and this.
No worries – it is still a great course and a good foundation to build your career. This year has been difficult from a placement perspective but that is more to do with the economy than an immediate devaluation in the course.
The MBA degree has been a piece of paper that allows you to skip the queue and jump up the ladder onto a well-paying and enjoyable career. The problem lies in the fact that it hasn’t adapted fast enough to the changes in business, and also because automation and AI are replacing many of the entry level roles. What will be the equivalent for 2041? No one knows.
But to answer the question of whether or not MBA is the right choice, as of today…
The right time is now.
We can’t change the past. We don’t know about the future. All that is in our hands is the present. And if you are sure about what you want to do (and even if you are not), MBA is a great option for you to broaden your perspective and explore a multitude of areas (and also earn a lot – although this is something you never want to say in an interview!).
So, live in the now, but not so much that you stop preparing for CAT. Don’t do an MBA just because your parents want you to, or because your friends are doing it. Plan your goals, and if MBA is a means for you to achieve it, go ahead, prepare well, and rock the CAT! All the best to you all!