Do I need an MBA?

We have come to a point where it is essential to establish a culture that will be inclusive for all employees, regardless of where they are from, their religion, or where they physically sit and work.

As a part of the management team gathered around the Rome Business School Belgrade (RBS), which is an international business school based in Belgrade and an affiliated member of Rome Business School in Italy, I often have to answer the question of whether an MBA is necessary and how much it truly holds value. We are all aware of the dramatic changes in the global business landscape over the last 30 years. Some recognized these changes earlier in their work with foreign partners. In contrast, others realized it later when the changes knocked on the doors of all companies and enterprises in Serbia due to the pandemic. Unlike the earlier period when the most valuable global companies had significant assets in land, office buildings, machinery, warehouses, and facilities required to produce physical goods and products, today we are surrounded by companies that have their most significant value in the knowledge, talents, and innovations of their teams, known as asset-light companies. Companies used to perform essential business elements locally (centralized), whereas today, companies rooted entirely in the digital realm, such as Microsoft, Amazon, Tesla, Meta, or Alphabet, have no element of local or centralized operations.

We have reached a point where it is crucial to establish a culture that will be acceptable to all employees, regardless of their geographical origin, religion, or physical location where they work. Proficiency in a common communication language is no longer an individual's advantage but an expected skill for everyone within the company.

For decades, the MBA (Master of Business Administration) has represented an educational program that brought better-trained and more prepared managers to the market, capable of quickly responding to the needs of companies. Previously, managers with MBA degrees primarily found their places in heavy industries, the automotive industry, and high-intensity production, typically in accounting, manufacturing, finance, operations management, trade, and human resources sectors. They were responsible for making the right decisions regarding investments in new assets, reducing production costs, or contributing to better organization in the shortest possible time.

In the modern era of business, executive-level managerial decisions are undergoing drastic changes. New skills and knowledge are essential; the digital age is not coming; it must be lived daily. The values upon which companies are built have changed, and employees' expectations are now only partially fulfilled by high salaries and minimal benefits provided by companies. It is crucial to focus on the necessary skills and knowledge. There is a need to be prepared for the future at a pace that matches the speed of changes, more so today than ever.

Today, an MBA is an enhancement program focusing on developing leadership skills and learning business principles. For many MBA participants, it is much more than that. It is a path to better business opportunities, higher incomes, advancement within companies, and expanding their network of contacts.

Managers who opt for MBA programs today know that modern companies and organizations expect them to have knowledge and experience in leading and building teams, intuition for understanding the future and defining strategic goals. MBA programs involve group work, which allows participants to gain knowledge from instructors and insights from colleagues from various industries and possess different skills.

I encounter people daily who ask me the same question: "Do I need an MBA?" It's not just managers seeking advancement who ask; it's also large company owners who want to keep up with the demands of modern business—entrepreneurs who recognize the need for terminology and understanding of all segments of an industry. Doctors and lawyers understand that an MBA is a way to acquire or enhance their management or team-building skills. The entire wave of young professionals, successful in IT technologies, who possess knowledge, are familiar with the terminology, and follow the latest trends but are aware of their lack of experience and wish to educate themselves on how to make their companies successful and sustain them in a highly competitive environment.

Everyone has certain expectations, and these will be fulfilled at different paces for different individuals. We must be aware that investing in an MBA is not tiny; it requires sacrifices, a significant amount of time in already crowded calendars, and a focus on aligning all responsibilities. The average age of MBA program participants is 39, a period in life when we are in total working capacity and typically have many family responsibilities.

Non-academic, business-oriented professional development provided by experienced instructors, especially those proven in global business, is a genuine investment.

It is an investment that leads to experience and a network of high-quality contacts, which can often mean a lot in a business environment. For this type of development, we must understand that there's always time and no perfect time. It is simply necessary.

Rome Business School Belgrade is an internationally oriented business school member of the Planeta Formación y Universidades international network. The Planeta DeAgostini Group, an example of absolute dedication to education and professional development throughout life, founded Planeta Formación y Universidades. More than 100,000 students from 114 nationalities are connected through this international network, sharing their talents and knowledge through open, flexible, and beneficial models.

The Corporate Advisory Board (CAB), which connects the academic community and managerial reality, also sets Rome Business School Belgrade apart in the market, playing a pivotal role in ensuring training quality and continuous improvement. CAB consists of leaders, managers, and professionals with extensive corporate experience in various domestic and international industries. Its goal is to foster the growth of talents attuned to the current job market's trends, demands, and needs.