How an MBA degree is the key to wealth generation of a country

As the country slowly recovers from the devastating pandemic and the economy limps back, opportunities are set to grow says Mr. Puneet Agarwal, vice-chairman of the MIET Group of Institutions. In an interaction, he speaks about the advantages of an MBA course, how it benefits not just the individual but the nation as a whole and the career paths for students.

Why is it a good time for a student to pursue an MBA course?

Once COVID hit, every business – big or small – was impacted in some way or the other. Typically people who don’t have a management background or skillset found it very difficult. They took time to revive their businesses or even adapt to a newer model of business. A typical management graduate is taught how to appreciate and understand a customer’s needs and demands and modify their offerings to suit their requirements. During the pandemic, for example, larger hospitals were able to deal with the challenges to quite an extent because they had employees with a management and administration background. That’s where smaller hospitals were lacking as they had limited technical expertise and found it difficult to upscale their operations. Now that things are picking up, people realize the importance of an MBA degree.

What are the advantages of pursuing an MBA course?

When we talk about management, we talk about the theoretical and practical knowledge that has been gathered over a period of time. In terms of theory, students are taught and they understand what are the different areas and offerings for them – it’s like a capsuled overview. There are a lot of case studies that students are taught – stories of success and failures – which becomes a reference point for them. A normal person gains knowledge about his or her field over a period of time – it can be 10 years or 20 years. An MBA graduate gets the similar kind of learning in a short span of time and in an efficient manner. In addition to this, we also prepare them for real- life experiences – that will help them after they graduate.

What are the career options available for an MBA graduate?

According to me, MBA is nothing but pure logical learning of things and processes that occur around you. A management student can take up any kind of managerial role in any field or industry as management happens everywhere. The biggest advantage for an MBA student is that he or she is not restricted by a particular industry.

When we talk about management, we talk about the theoretical and practical knowledge that has been gathered over a period of time. In terms of theory, students are taught and they understand what are the different areas and offerings for them – it’s like a capsuled overview.

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How a degree in MBA helps in wealth management.

When we talk about the country’s economy, it all starts from your home. For example, a homemaker manages her home. If the finances are managed well, then you have some savings and this savings she decides to invest. That way any small savings in a family adds to a larger population and in turn a country’s savings. These savings are then invested in the country’s infrastructure, which provides opportunities in further wealth creation. For exampleif you look during the pandemic, as a country we were able to manage the situation because we have majorly been a savings driven economy. Whatever we had invested during our careers, it was this investment that helped a lot of people – we were able to delve into these investments. This is a positive cycle – because now people also realize how their investments helped them and they are keen in future investments. An MBA graduate usually starts off with a slightly higher pay scale compared to their peers. Also any young management graduate when he or she earns more, they invest more. The more they invest, the more it benefits the country’s economy. There is wealth generation on both ends. And if they’re consuming more, then they are creating more demand in the market, and that again boosts the economy.

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