MBA: WHAT, WHY, HOW (with former CEO). What they Don't Tell You.
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- čas přidán 10. 09. 2024
- Business Coaching with a former CEO. Master of Business Administration. What is it? Is it right for you? Does it make sense? What do you learn? Subscribe to learn how you can build your career, and lead a business to success.
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This is the first video in my series "MBA". I will be exploring all aspects of the MBA degree. Please see the other videos on my channel to hep find success in business and in your career.
What is an MBA, AND IS IT USEFUL?
Core Courses:
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In this video I discuss the question "MBA: What / Why / How (with former CEO). What they don't tell you.”, and cover is an MBA worth it, what is a MBA course, what is MBA program, what is MBA in human resource management, MBA in human resource management, MBA in finance, MBA. Do I need an MBA? Is MBA important? Also, MBA in Canada, is business school worth it? MBA worth it, Qualification, textbooks, programs, MBA useless? MBA right after engineering, MBA right after undergrad, is MBA worth it? Is MBA worth it in Canada? What is MBA, business school, business schools in Canada, does MBA matter, MBA useful, types of MBA, MBA specialization, MBA entrepreneurship, join a startup - learn by doing, why MBA, Masters of Business Administration, complete waste of time, why MBA after engineering, recommendations, why to do MBA. What is it? Is it useful? debate, the be all end all, executive MBA, online MBA, how does MBA help, MBA startup, MBA course, cheap MBA, Ph.D. Masters degree, Bachelor degree, what is an MBA, company, reports, commerce, MBA result, mimic, learn by doing, imitation, copying, judgement, why get MBA, what they don't tell you, DIY MBA, and answering your questions.
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The Companies Expert I just found your VDOs, all are informative and helpful. But can I suggest you to adjust the background drumming, it's pretty loud and make it hard to concentrate on your content.
@@mindfullearner344 OK, thanks, mindful learner, cheers!
Thanks for information! Background music is distracting:(
@@tazaratsarina9445 Gotcha
Your informations are so helpful for people who are in the fields of businesses. Thank you Sir! God bless..
As someone who got their MBA with a concentration in entrepreneurship, I would say that an MBA is an asset when starting a business because you will eventually run into many problems in your business that are just hard to solve or anticipate without the training. I'm pretty sure that anyone can just start a business, but when issues come about such as customers are not purchasing their products, revenue is declining, or the company is losing market share, most CEOs without the proper training will find that these problems can wipe out a business if not handled well. Beyond this issue, most businesses fail within the first 5 years because of a lack of product-market fit. This means that most businesses are built on shaky foundations from the start, the company couldn't pivot correctly, and the CEO spent a whole bunch of money on something that nobody wanted.
The biggest benefit of the MBA, in my opinion, is learning how to think about business issues and coming up with workable recommendations. It is more akin to being an adviser for business issues. While not everyone needs to seek advise when opening a business, I think it would be nice to have good advise before committing a bunch of money on a business that customers may or may not want.
Good points and reasons to get the MBA. I realized I needed an MBA after trying to run a company for 3 years and dealing with costly mistakes I wanted the blueprint for a business.
This is seriously great.
I am finishing my AS in business admin and about to begin my BBA. I have a frequent fear of how to properly leverage my degree when I am finished in 2023. I am 27 y/o with plenty of low level management experience and I really hope an education will be worthwhile in expanding my financial prospects.
I expect I will be BINGING your videos. Thank you so much for these
You really made a phd program sound awesome and meaningful.
I've been to college and apparently hung around the wrong phd's.
Haha!
I enrolled this month for MBA. This is a great help. Thank you so much!
You gave a great description for an MBA. I have an MBA\MKT, MSOSH, and an MSESM (Emergency Services Management). I have been following you for 3 weeks now. You do a great job of explaining your subjects with a clear understanding for the listener. I enjoyed this subject because it will help me to explain my education during job interviews. You also did a great job in explaining the different levels of degrees and the knowledge gained for each degree level. Please note I have also worked towards a DBA for 4 years but did not complete the dissertation. So, I do have a good understanding of the going to college thing. Your videos are truly helpful and I personally appreciate them. Keep doing what you are doing!
Wow - high praise indeed! Thanks, Charles! It sounds like you are quite accomplished. Anyone with four years into a DBA is a force to be reckoned with! Thanks for watching
Great video, I heard it out! I am a pensioner now, failed my initial academic study and went to work at IT, was advised to do an MBA later-on, which I did. When hearing you sum up all the topics, memories came back. While getting my degree, learning a lot, my greatest lesson was, that “business” was not for me. I grew to like the organizational aspects of IT Security, did that for 20+ years. Now and again, MBA aspects proved to be useful, at the background. I totally agree with your summary, getting to know about all the aspects mentioned, but in the end you have to follow your heart, do what you like best, as long as there is enough money in it to live a proper life.
Why is it that every single time I apply for a "marketing" job it always ends up they want a salesman? Yes, sales does fall under the umbrella of marketing but marketing is so much more than that. The term marketing is too broad I think.
I understand. I like marketing, hate sales. I’m more so customer service focused
I am no expert, but did about 8 years as sales man from being a waiter to a broker dealing with different products from fuel to copper... and I have realised that in the practical world a sales man is literally doing marketing as a whole. Only if you take different specialisation. And also I wanted wanted to study marketing, but it wasn't making sense. However, right now, I really need to know the depth insight what is really in MBA that I should know that real life experience isn't giving...😊...
I wish I had this content 10 years ago.
Thank you!
Just finished my MBA; struggling to find my first job though… (no one is giving me interviews 😢; maybe I’m too qualified for this city?)
I rarely comment on videos,but man i really value the knowledge and advice you are sharing in your videos. I started with the interview videos and have been hooked ever since.Keep up the good stuff,Bill. You're awesome. Massive thanks and respect.
Thanks, Sunny! I really appreciate your support and vote of confidence. Very kind of you. You are indeed awesome - have a wonderful day
Book learning and practice are excellent combination of a powerful knowledge. You're awesome Sir!😁👍👍 God bless you!
Thanks, Jerome! Same to you. Glad you found it helpful
@@TheCompaniesExpert thank you also Sir! 😊👍👍
@@jeromefelizardo44 👍
That's one of the best vids I've seen on what an MBA teaches. Thanks a lot!
I like this! I'm finishing my bachelor's in Tourism, Convention, and Event Management with a Business Foundation Certificate. I'm also a Navy Veteran so I get to use my GI Bill. I have enough left to get my MBA, so I was thinking about getting it in Marketing to concentrate on Event Marketing, BUT, I know that this can also help me with other aspects of the event industry and in tourism.
At least I hope that's how it works lol. Idk.
First of all, thanks a lot for your video. You can't imagine how useful it was to me. I was not sure about what to do here in the US, and your explanation was crystal clear to me. Thanks a lot.
I am assuming that you've come to this realization as the videos posted since this date have been shorter, but this video had 5-10 minutes of content that you probably would not have included if you had used a script. You seem to be able to speak very eloquently off the cuff. Great skill for a podcast if you were to have guests.
As a follow up, I'd enjoy seeing what your list of key books on foundational topics is.
thank you.... I like the way you explain things, and you know I am searching for this kind of videos in bast may be six months, cos I was confusing to take MBA or not you give me the consultant I needed. Thank you verry much.
Thank you for the explanation sir.i was in an idea of doing MBA after my mechanical engineering.this video gave me a good introduction about MBA
Thanks Bill, waiting for your series on each subject along with recommended textbooks, that series will be priceless
Thanks, Sharma! That's great to hear
Thank you, for taking time really in adding value in my life. This is one amazing info. Thank you for taking painstakingly huge efforts to teach this
You are so welcome!
I watched the whole video.. it's awesome.. I was considering going into a law cost MBA program but I am still thinking about it as i have a job and i run my side hustle so time is very limited.. i like the idea of the book .. or maybe i just get the topics and do short online course and apply that in my business so i get myself covered pretty much all around.. my weak point is accounting .. i hate that .. but sometimes i guess we have to do the things we hate to achieve the greater good. thanks again
Thanks for providing a very balanced perspective on getting an MBA. A point I'd like to make that I think underscores the message in your video is to consider your point of entry and exit strategy. When one considers both the tuition and opportunity cost (loss wages for two years), the payout has to really be worth it, especially in these difficult economic times. When I talk about point of entry, a lot of it really depends on where you are in your career, and what you discussed: what do you want to get out of an MBA? Sure there's intrinsic value in knowing business, but as you said, you can learn that from reading books.
Many people head into their MBAs prematurely and are unable to optimize on its value immediately, and therefore lose out on the cost that they put into it. These days, it's more important to time it well, in terms of graduating with an MBA, and not to think of having an MBA as some sort of a backpocket credential that you can whip out whenever you want. Speaking from the perspective of someone working in a non-finance non-business industry, if you are on a career track and are already a supervisor/manager, it will make more sense than if you were anywhere from a junior to senior level employee. Having an MBA is a double edge sword (as discussed in your subsequent video), and in my opinion, especially if you attain it too early.
To address the other commentator regarding top 20: yes and no. There are more factors that one should consider. True, the entry-level salaries of graduates advertised by those universities may seem enticing, but it's marketing. There's a lot of factors contributing to those high averages that are not advertised. However if you do choose a non-top 20 school, it is more important to be a more strategic about it so that you can leverage its full potential. I've known people who had mid-to senior level positions who graduated with an non-top 20 MBA in a different city, and are now working in the same industry at a much lower pay and level (same city as the university). I also know someone who graduated with a top 20 MBA and is working in a position that does not require one (i.e. her counterparts have different degrees). And it took her a year after graduation to get that job.
Full disclosure: I do not have an MBA, but have researched this for many years and took the GMAT.
Thanks for commenting! About the entry and exit points: True, but as we all know, life and careers are not always predictable, so that should also be a factor in your decision.
@@TheCompaniesExpert absolutely true. Which is why I only plan for the year ahead, and leave my goals flexible. I don't do 5-year plans anymore, but I do have an idea of where I want to be in five years (but that's not set in stone).
Could you elaborate on what you said about not making sense going for the MBA while being in a junior to senior position? I am currently a Sr. Financial Analyst with 6 years of experience and I’m thinking of doing an MBA (part time btw, not gonna lose my job). While I am aware it’s not a golden ticket, I believe it could help me open some doors and a nice to have when applying for a manager position...what do you think?
@@RubenGonzalez-nr6bz sure, but I can only provide you with my perspective, and it's one of company culture. But before we dive into it : what is the level above your position, and how many steps is your position away from a manager role?
From a company culture standpoint, can you do a scan of all positions above you (inc.managers and directors in your company) to see if a majority of them have MBAs or some form of masters? This matters, because if a majority of mgrs/execs only have bachelor's degrees, they might feel threatened that you have an MBA. So when it comes to hiring someone like you or someone with equal amount of experience but only a bachelor's degree, they might choose the other guy. They might view a junior employee pursuing an MBA as too ambitious. If you're a senior level employee and is one step away from a manager role, and plan to also work while studying an MBA, that's fine. But assess the company culture first. And keep in mind, no one is 100% safe from layoffs (esp. In these tough economic times).
But if you decide to quit your job to complete an MBA or are laid off, you might find yourself in a catch-22 when applying for manager roles upon graduation. You've got the education for being a manager, but don't have the experience of a manager.... So the hiring person will have to decide 'Do I hire MBA person with no experience, or hire one of the hundreds of candidates with management experience (without MBA)?' Chances are that the Hiring director is very busy and has no time to train the 'inexperienced' manager and will go with the person with more experience. So you'll just end up probably obtaining a role similar to what you had before you left for your MBA (not a great payoff, considering the sacrifice you made).
If your company culture isn't great, this however, does not preclude you from applying to other more competitive companies where they do have a lot of MBA-level executives/managers.
@@simonbackpack Wow first off thanks a lot for such detailed answer! In my company usually the levels are Analyst->Sr. Analyst->Manager->Director->VP->CEO
In my case I report to a Director as the manager position in my sub-function doesn’t really exist because it hasn’t been really well developed. Talking about company culture, there’s actually there’s a lot of internal promotions. My Director himself has an MBA but I don’t think it is a common thing or that important in the company whey they do a promotion. One thing for sure is that I am 100% sure I wouldn’t be going for a full time program so lost salary wouldn’t be a sacrifice.
Love it... Could you please post a list of books that are a must ? 🙏 thanks
My solution to that is here: czcams.com/video/dpNnCAiHzUM/video.html
It is a good explanation about MBA
Thank you
Truly love your videos, really do give me better insight and context into some of the moves I'm trying to make. Thanks
Thank you so much Sir for putting out such wonderful suggestions.
Thank you for your content. I have been on the fence whether I should try for an MBA (I specifically want to go into marketing) or if I should try for an internship. I’m going to make the investment for the college degree.
Im going to school for business administration I believe i have a niche for business naturally
I just subscribed your chanel. Tq for the information in your video. It will surely help me to prepare for the scholarship interview for an MBA program soon. Regards from Malaysia..
+1 for book advices. please keep up the good job
I did both a BBA and an MBA, and it was basically the same thing, but less detailed... It's pretty much just a cash grab, unfortunately, most companies give enough credit to it for it to be worthy.
If you came from another field, it´s a completely different story, then it is very useful
So much learning! Kudos!
You are excellent! Very thorough!
Thanks
Really like the videos. Would definitely watch that mini series.
This information and content are great by the way.
Excellent Information
Very well explained, thanx!!!
Thank you it's about the time for me to decide which both I should walk.
thank you sir for this beautiful insights.. happily subscribe.
thank you - great vide super clear
Plz do the mini series
Great video, thanks.
Love your series and your channel. one suggestion. You manage things, you lead people. I have no degree, but inherently understand these concepts. Tragically I am shunned by the masses for lacking a piece of paper that proves I know how to read.
30:30: would you happen to have the list of these books that one can read & replicate the MBA learnings via self-study?
Great content as always! I'd like to ask your opinion about the value of networking in an MBA
I really enjoyed the information you provided about the MBA. Spot on! I’m curious to hear what your thoughts are about getting a Master of Science in Management with a concentration in Human Resources as an MBA alternative. I’m currently only 3 credits away from earning this degree from the University of South Florida in Tampa. I have over 10 years of operations management experience in the retail and hospitality industries but never held an HR job title. I’m hoping earning Masters degree will help me transition either into Human Resources where I feel there is more job security and better compensation or progress further into director level management positions. What career advice would you give me? Thank you.
Hi Ian,
I obviously don't know all the details here, but if I was the hiring manager, I would look for two things: A). Interpersonal skills, and B) Examples where, as an operations manager, you improved things through your abilities in HR. I may be in the minority here, but I believe if one is to work in HR (especially high-level HR), one must have exceptional interpersonal skills. I don't believe in the long-term success of a purely statistical approach to HR. Now, what matters most is not what I believe, but what the hiring managers in your chosen field believe. Make every effort to discover this through informational interviews etc. Great question - thanks for commenting!
Could you please recommend a list of books /MOOCS. Thank You.
Can you do a video on Project Management? - I have looked into it before and I think I would be a great fit. But I do not know how to get into it or where to even start. I am also reluctant to go back to college as I am still paying off current student loans.
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Hey, you are always saying to us that we are awesome.. but honestly your are the awesome guy :D .. Is there any book which would be like a combination of the MBA subjects as whole in a single book? i think this is hard to find.. but is there any book you advice the "most" to read to get the best possible results for a business.. btw what was your Engineering major? Thank you in advance, we really appreciate to such a kind person as you and may God bless you
Hi Mahdi, I did electrical. I will have a course coming out later this summer called "the $100 MBA" which will go into each subject, include some of my tips, and recommend a definitive book for each subject. No quite what you were asking, but books that simplify and summarize further than professional book you could probably find in a regular bookstore. I'm sure there are some good ones out there, but the ones I've come across were quite poor.
The knowledge from my MBA has been very enlightening but I'm not sure I want to do a management position so idk if it will actually help with jobs.
How would you advise to find a mentor for personal growth, like someone who would just look at you see him/herself in you, and advise them from the height of their experience?
Don't you want to run a online MBA-like minicourse by yourself? I'd love take it, as well as many more subscribers, I'm sure.
I have a question for you. I made a blended MBA (online + residential weeks) years ago (finished the master thesis around 2008-2009). I learned a lot doing it, also improved my work capacity doing it while working as an IT engineer. Later, I created a company which happened not to be profitable. Since, I have continued working in the IT area. Somehow, I have a feeling of having wasted it. I wonder if it still makes sense going in the entrepreneurship direction, using what I learned by using the MBA network, resources as an alumni. I have also a quite extended network where I live but do not really know how to effectively take advantage of it.
Interesting, could you comment about EMBA?
On EMBA's: Well, I did briefly mention accelerated MBAs, and an EMBA is similar. I've never taken one myself, so I'm not the last word on an EMBA. However, I wonder how someone could do an MBA in a year and work an executive job. To me, that's practically suggesting the impossible since a good MBA contains SO MUCH material. I'm assuming they're making it quick and lightweight by scaling back the content. If that's true, then I suspect it's lessening its value. This is just my opinion. Do research into the specific program you're considering. Like someone mentioned, perhaps the value of an EMBA is more in the personal relationships you may form with other executives. I'm sure that's try for some programs, but beware that lesser programs will attempt to play this card to sell you on the program. That would be something to research. Do an informational interview with someone who took the EMBA program in question to get their perspective on this. Hope that helps!
I think an MBA would help if you start a business with employees but if you are starting a company where you are the owner and sole employee, I seriously believe the only useful thing education wise is to take some accounting courses and not even seek a degree.
TRIZ - !!!
Excecutive MBA was not discussed in the video as far as i could see. What is that? Im going to choose one or the other. Thanks
Hi Nicolai! I'm going to paste a previous comment I made about EMBAs: "On EMBA's: Well, I did briefly mention accelerated MBAs, and an EMBA is similar. I've never taken one myself, so I'm not the last word on an EMBA. However, I wonder how someone could do an MBA in a year and work an executive job. To me, that's practically suggesting the impossible since a good MBA contains SO MUCH material. I'm assuming they're making it quick and lightweight by scaling back the content. If that's true, then I suspect it's lessening its value. This is just my opinion. Do research into the specific program you're considering. Like someone mentioned, perhaps the value of an EMBA is more in the personal relationships you may form with other executives. I'm sure that's try for some programs, but beware that lesser programs will attempt to play this card to sell you on the program. That would be something to research. Do an informational interview with someone who took the EMBA program in question to get their perspective on this. Hope that helps!"
@@TheCompaniesExpert Thanks a lot, i think i have misunderstood the EMBA a little. In my country atleast there is something called an "industry master" where you do the full master program part time and still work part time. Its made for employees that want the extra education but cant quit the job. An example would be an optician, a bachelors degree job, and while working 50% studying 50% reciving 100% pay and probably signing on for x amout of time. The master takes a little longer, but no pay is lost.
This is what i thought an EMBA was.
I tend to agree with the sentiment that an accelerated MBA sounds "too good to be true" and even though i might be qualified for an EMBA i belive the knowledge for a full 2 year course is essential. And the practical knowledge you recive from other executives would be possible to accuire on other arenas.
Thanks again!
@@TheCompaniesExpert To be precise on my previous post, I did an Executive MBA, 1,5 years with bi-weekly weekend classes and lots of evening study, along with your daytime work. The idea was, and is as far as I know, that you already are an expert at, say, chemistry, and got promoted to a high management function where you still needed your expertise, but needed more “business knowledge” too. That latter knowledge should be enough to steer your employees properly and be a serious partner when discussing business topics at a high level. The result of those discussions should be well informed decisions, foregoing the negative sides of trial and error. The EMBA should be seen as a good starting point of lifelong learning, giving you a head start. Among my fellow students were a pharmacist leading a company, and a ship supply business owner who inherited the business while being trained at law. Very interesting!
Fellow engineer here. I got my degree in Biomedical Engineering a few years ago and have worked in Pharma since.
My skills are driving me to a career in public presentation on technical problems. I am interested in biotech/med device, technology, and marine learning (least experience here).
An MBA is very intriguing to me but only about ten programs. I don’t know the end career goals but I do, at least, want to do the following:
Start my own SaaS company and run it
Be a people leader in Med/Device
Get paid to speak publicly
Any advice for me? MBA a good idea?
Yes, but don't break the bank doing it!
Hi. May I ask where you took your MBA from?
Can u suggest me some names of books..plz
when should some who is serious about business go get an MBA?
Honestly… get some experience first because without experience; people don’t want to hire you for higher level positions…
And they don’t want to hire you for entry level positions because you’re overqualified
From what I’m experiencing