In the current era, with every single student preparing to get into MBA, people have started thinking that MBA is essential to be successful in Business. But, is it compulsory to have an MBA degree to succeed in business? In a recent survey carried out by Harvard Business Review & INSEAD, 40 % of the Indian CEOs have the degree while 60% don’t. This gap is a big number in favour of background that dominates the business world. Statistics such as these might be among the convincing reasons for ambitious Indian professionals and students to ask on different MBA forums if an MBA is necessary for their career. The short (and obvious) response is No.
At this point, while responding to hypothetical queries like these, we could mention some obscure examples of renowned folks who didn’t have the degree but were able to carve attain fame, name, and money at any rate. Though MBA programme provides a closer to real consideration of business world but nothing educates better than the practical life experience. Famous leaders attribute their success to business acumen, experience, practice and prudence rather than to a degree. Business schools now come across criticized from quite a lot of directions: for paying excessive attention to the return on their students’ investment, for instance, and so far for not giving value for money; for being too academic, intellectual and for being too concerned with training essential practical skills.
Conclusion
Many important and famous global business leaders namely Bill Gates, Michael Dell, Oprah Winfrey, Herb Kelleher, Warren Buffett, and many more, who are considered to be the paragons of management and leadership do not have an MBA degree.