Study Strategically to be a Successful MBA
“Strategy is a commodity, execution is an art,” says consultant, educator, author, and “the man who invented management”, Peter Drucker. While the need for business strategy has always been paramount, it is especially vital for today’s organisations as they navigate the transformed post-pandemic world and what comes next. Indeed, the decisions business leaders make today don’t just have bearing on the immediate success of their organisations, but also years into the future.
Strategic management is defined as the process by which an organisation manages its resources in order to meet its goals through planning, oversight, monitoring, and analysis. To accomplish this, strategic managers assess a business’ current state, create strategies to improve market share, roll out changes, assess their performance, and fine-tune plans based on results. Sound business decision-making is at the heart of strategic management, and analysing and weighing cross-functional business decisions is a major part of the practice.
An MBA is the gold standard in business degrees, and prepares graduates for a range of high-paying managerial roles. This degree takes typically takes two years to earn for full time students, as we have covered, there are many excellent Accelerated MBA Programs which can take as little as 18 months. Part-time students may need three years or more to finish their coursework. The course of study for an MBA is specific to business, and covers the fundamentals of business in core classes, along with business electives. In many programs, students can tailor these electives to pursue a concentration in a specific area of business, such as human resources, marketing, or strategy.
Simply put, a strategic management MBA, or strategy MBA, is a regular MBA with a specialised concentration in strategy. As US News and World Report points out, an MBA in Strategic Management is fundamentally different than an MBA concentration in a specific area of business, such as finance or marketing. An MBA in Strategic Management is less technical and more broad, and addresses organization-wide performance, rather than management within a department.
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