What is Global MBA and Why You Should Consider it?

For business aspirants or anyone looking to scale the corporate ladder, an MBA might seem like an inevitable and logical career leap. Is it truly worth the commitment and cost, though? In fact, according to a  Corporate Recruiter Survey Report 2022, 92% of Indian corporate recruiters were set to hire fresh MBA graduates. This highlights how an MBA is an individual’s golden ticket to career growth and a better paycheque. Given the international nature of business today, a global MBA is even more of a requirement. Let’s learn all there is to know about it, its benefits, and what aspiring professionals can gain from it.

In this blog, you will learn:

1. What is a Global MBA?
2. Global MBA vs. Regular MBA: How is it different?
3. What are the specific skills and competencies you develop in a global MBA?
4. Best universities offering a global MBA
5. How does a global MBA contribute to career growth in the global job market?

What is a Global MBA?

This is a type of MBA specialization where the main goal is to develop future leaders in international business. It covers topics such as international business strategies, cross-cultural management, global economics, and business analytics for decision-making. Furthermore, these MBA programs equip individuals with the skills necessary to overcome any challenge in a  dynamic, fast-changing global business environment.

Global MBA vs. Regular MBA: How is It Different?

First and foremost, global MBA and regular MBA programs are both similar in that they prepare individuals for leadership roles in business. However, they also have distinct differences as well. Here’s how they are different from each other.

ALSO READ: 7 Best Types of MBA Programs in the World for Indian Learners

What are the Specific Skills and Competencies You Develop in a Global MBA?

1. Data Analysis

Data analysis transforms raw information, such as sales figures and surveys, into valuable insights. Therefore, professionals with excellent data analysis skills empower businesses to make data-backed decisions about pricing and products.

2. Market Research

Market research, as the name suggests, is another important skill to develop. It tells businesses what customers want and what the competitors are offering. Moreover, professionals use market research to help businesses make better product and marketing decisions.

3. Project Management

Project management is about guiding a team to successfully complete a project. It means planning, organizing, and controlling resources like people, time, and money throughout the project’s journey. Therefore, this skill is crucial, particularly when they assume leadership positions where they need to oversee projects, allocate resources for a project, and manage various business aspects. Furthermore, having excellent project management skills helps global MBA graduates better perform tasks like delegation, performance tracking, project planning, team communication, and risk management.

4. Brand Storytelling

Brand storytelling is a potent tool in business today. It’s about conveying an organization’s story and values effectively. This is thus a vital skill for MBA graduates because it helps them build a strong relationship between a company and their target audience.

5. Financial Forecasting and Analysis

Financial forecasting and analysis help organizations predict their future financial performance using projections and trends. Generally, companies deploy skilled professionals for financial forecasting and analysis, which empowers business owners to make proactive decisions about short-term and long-term gains. Furthermore, through financial forecasting, organizations can anticipate funding needs, enhance income, assess investment returns, set wise financial goals, understand markets, and track key metrics accurately.

6. Leadership and Management

Getting a global MBA degree helps one become a capable business leader. Additionally, it imparts traditional managerial abilities and hone the capability to navigate the complexities of the global business landscape by exposing insights into different business practices, cultural norms, and market dynamics. As a result, one learns to lead and manage effectively in a multicultural context.

7. Strategic Thinking

Strategic thinking skills are a vital component of a global MBA program. It equips one with the ability to perceive the bigger picture, analyze complex situations, and develop effective strategies that consider both local and international contexts.

8. Marketing

Marketing is also a core competency for global MBA graduates. It offers an understanding of diverse markets, cultural considerations, and international strategies. Moreover, it exposes an aspirant to a wide range of international markets, enabling them to gather insights into consumer behavior, preferences, and trends across various regions.

ALSO WATCH: Career Post Pandemic- What to Expect by Megha Gupta, HR Director, Fiserv

Best Universities Offering a Global MBA

Over the years, there’s been a significant increase in the number of Indian institutes offering this degree. Institutes such as the Indian Institute of Management Kozhikode, the SP Jain School of Global Management, and the Lexicon Management Institute of Leadership and Excellence offer global MBA programs that equip learners with valuable skills required for a successful career in the global business landscape. Moreover, these institutes have an in-depth curriculum that helps one develop a global mindset, learn to lead multicultural teams, and fast-track their careers.

How Does a Global MBA Contribute to Career Growth in the Global Job Market?

As businesses continue to evolve, individuals also need to prepare themselves for the changing requirements of the new market. A global MBA program provides them with a better understanding of international management practices and business fundamentals. In fact, a global MBA, especially from prestigious institutions, holds weight in the job market, offering a competitive edge over others. Additionally, it equips one with the skills and knowledge required to operate in the international market and derive deep insights into customer preferences, economic trends, and market changes, making one an important asset in the job market.

ALSO READ: MBA for Working Professionals: Top Types, Advantages and Best Courses

Frequently Asked Questions (FAQs) About Global MBA

1. Is a Global MBA a Good Option?

Yes, it is a good career alternative. Additionally, it helps unlock one’s hidden potential, acquire the skills required to excel as a global business leader and build a successful career in any part of the globe.

2. Who is Eligible for a Global MBA?

To enroll in this type of MBA program, an individual needs a bachelor’s degree from a recognized university in any field with a minimum average of 50%. Additionally, one must take aptitude tests like the Graduate Management Admission Test (GMAT) or the Graduate Record Examinations (GRE) and a language proficiency test such as the International English Language Testing System (IELTS).

3. Is It Valid in India?

Yes, a global MBA is valid in India. Moreover, getting such a degree from a leading institution increases one’s chances of getting a high-paying job. According to the Graduate Management Admission Council (GMAC) survey, Indian employers hire individuals from leading business schools.

ALSO WATCH: Thinking About Career Transition? Let’s Talk! by Ruchika Rocque, HR, Microsoft

Future-Proof Your Career With Emeritus

To thrive, one must continuously update their skills. To stay up-to-date with the latest skills, consider the business management courses from the world’s best universities. Moreover, these courses enhance aspirants’ understanding of the concepts and principles of business management, improving their ability to make complex business decisions, deliver projects with a precise focus on time and budget, and spur career advancement.