In my role as an Advisory Board Member I am part of a group of professionals that provides strategic advice to an organisation to assist with internal decision making.
According to the Advisory Board Centre of Australia, advisory boards are commonly used by the business sector to support growth, expansion and succession strategies.
These benefits match well with the contribution you can make once you complete your MBA. Clearly this will make you more attractive from a professional perspective when seeking a new, more challenging and rewarding role.
It’s also important to reflect on the overall benefits that can extend beyond your career and professional goals and are applicable to your non-work life as well.
1. Increased Self-Confidence
One study surveyed MBA graduates about their perceived financial and non-financial costs and benefits of their professional degree. Surprisingly, increased confidence was one of the highest-weighing and most important non-financial benefits of earning an MBA degree.
2. Credibility
There are different ways you can establish credibility in your company and industry such as volunteer for a project at work that stretches you beyond your comfort zone and shows off your hidden talents to company management. An MBA is the academic version of ‘putting your money where your mouth is”, it's a significant accomplishment.
3. Transferable Skills
Much of the knowledge and skills you gain from earning your MBA is applicable across many industries. Regardless of your industry or job title widely applicable qualities like leadership, critical and analytical thinking, creativity, and communication are clearly transferable.
4. Strategic Thinking
The strategic thinking skills you learn while earning your MBA are not only applicable in the business world but across various areas of your life. You’ll be able to think outside-the-box and weigh multiple options or solutions in your mind while you work to fix a problem.
5. Better Communication
MBA graduates often find themselves communicating better at work with colleagues, leaders or other employees. These communication skills can also apply at home with your significant other, kids, parents or in social situations such as networking events or company functions.
6. Self-Discipline
After you attend classes and study sessions, complete assignments on time, and push yourself to work through rigorous, complex coursework….anything is possible. All of this takes a level of self-discipline, and while you may not be a ‘natural’ this can be cultivated with time and effort while working through the MBA program.
7. Broader Worldview
You will address big business issues and real-world business challenges during your MBA which hones your ability to look beyond your role and see how organisations operate. This also increases your exposure to diverse perspectives on global, social, and business issues as you collaborate with students whose backgrounds, experiences, and career goals differ from yours.
8. Network of Colleagues
While earning your MBA, you meet faculty and fellow students and alumni of the program who begin to form a network of colleagues. These include people both within your industry, in different market segments and are often spread out across the world.
John Cooksey
Director of Affinity People
(HR Advisory and Executive Search Consultancy)