Strategies for MBA Success

Alkis Vazacopoulos had already launched a successful business analytics and optimization career when he caught the teaching bug. In a recent interview, he explained that he was “inspired by a desire to share my real-world experiences with students and contribute to developing the next generation of analytics professionals… As someone who had implemented optimization solutions in companies across various sectors, I could help students understand not just the mathematical concepts, but their practical applications and limitations in real business settings.”

COVID-19 can be described in many ways. Tense. Uncertain. Disruptive. One other term that can describe the COVID-19 impact is paradigm shift.

In the past, ambitious engineers typically chose between two distinct academic and advancement pathways. Some would earn a master’s in engineering to qualify for senior-level engineering roles such as principal engineer. Others would earn a Master of Business Administration (MBA) to become engineering managers. Engineering Management vs. MBA: Today, engineers who want to leverage their engineering skills in leadership positions can choose a third master’s degree option: the Master of Engineering in Engineering Management (M.Eng.EM).

Flexible online Master of Business Administration (MBA) programs are popular among working professionals seeking advanced credentials without relocating or putting their careers on hold. These programs promote career advancement by teaching business principles, strategic thinking and management skills. Some pursue these objectives entirely through academic coursework; others supplement classroom learning with robust networking and experiential learning opportunities, including immersion events. Many students find immersions extremely beneficial.

From advancing your career to increasing your salary potential and job mobility, an MBA offers undeniable benefits. According to the Graduate Management Admission Council (GMAC), more than 85% of graduates say their investment in business education yielded a positive return. U.S. employers expect demand for MBA grads to stay consistent through 2028 and 37% anticipate an increase in hiring demand. MBA graduates’ futures look bright.

The term “artificial intelligence (AI)” first appeared in 1955. Since then, AI has developed from a futuristic fantasy to a ubiquitous presence. From the voice assistants we use in our homes to apps that help to improve healthcare, AI is constantly evolving. 77% of businesses are using or exploring AI, and 96% feel an urgency to incorporate AI into business operations. It is clear that AI is industry-agnostic, and leaders and managers at all levels will need to understand AI to succeed.

As many inspirational coffee mugs say, “Life is a journey, not a destination.” No matter what we’re working towards in life, it’s a nice reminder that we are free to change our priorities as we grow. As we gain workplace experience and our long-term professional goals take focus, being a career-switcher often makes perfect sense.That said, entering new fields can require work to acquire the skills required for the position. One way to explore new pursuits and change career paths is to earn your MBA degree. The strength of this advanced degree, in particular, is that it’s flexible and widely applicable.

“If you’re going to run a business and you don’t understand accounting, you’re already behind the eight ball.” Billionaire businessman Mark Cuban is not alone in that opinion. Warren Buffett agrees: “It’s like you’re in a foreign country and you don’t know the language if you’re in business and you don’t understand accounting.”

Completing an MBA program is a professional turning point. Some graduates use their degree to accelerate their growth into a leadership role. Others pivot into a new function such as consulting, finance, technology or management. And some launch new ideas in a bid to become successful entrepreneurs.

In the competitive world of employment and career advancement, an MBA can confer several significant advantages. MBA programs teach students advanced techniques and strategies for solving problems, making business decisions and spurring creative and critical thinking. They also culminate in a respected credential that sets candidates apart as they seek new jobs or advance within their organizations.