The Master of Business Administration (MBA) degree is becoming as common as the old BA, or Bachelor of Arts. But do we need MBAs? Do they actually serve any purpose? And do they actually help careers? Three years ago, I did a blog entry suggesting that most executives feel it doesn’t prepare people for the real world. Now blogger and workplace commentator Penelope Trunk says that MBA’s are a waste of time and money. She says that no business school can teach you to be a good entrepreneur and that apart from a few really high powered positions in blue chip companies, the MBA will not give you the kind of job you want. She also says it doesn’t increase your earning power, it’s useless for most jobs and makes you look desperate. And in any case, going to business school to pursue an MBA just puts off the inevitable. Eventually you have to grow up.
I am amazed at how hard it is sometimes to get a waiter’s attention at a restaurant.You call to them, wave your hands, do anything to get noticed. And still they walk on past you, oblivious. Why does this phenomenon occur? The same reason you don’t succeed at the level you like. Lack of focus.
Here’s an amazing, yet true story. I knew a guy who owned a company that sold burglar alarms. His sales people started out selling them door to door for around $600. Then one day, he asked himself whether he could stretch that price. So he moved it up to $700.
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