MBAs: Adding value in a time of recession

I'd like to share this blog with you that I originally posted on the Toronto-based Financial Post's Executive Blog: http://network.nationalpost.com/np/blogs/executive/archive/2009/04/30/mbas-adding-value-in-a-time-of-recession.aspx

Tell me what you think!

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This is not a good year for MBAs. On one hand, more people are applying for an MBA than ever, as a way to get out of a bad job market and improve their skills at the same time. On the other, new MBA grads and interns are concerned about being able to demand higher salaries and even to find a job, when so many businesses are struggling to weather the recession.

But I also believe that this is a time of great opportunity for those of us who can be creative, and use those tools we learned in Business School to really impact the bottom line. A lot of businesses are finding that business as always is not effective anymore and may be more open than in times of success to listen to new points of view.

I used my LinkedIn network to ask people from different businesses about what they valued in an MBA. Here are the qualities they said they valued the most:

1. Being able to work independently: with all the current layoffs, this is no time to make managers babysit new employees.

2. Quantitative analysis: Turning projects into measurable results that can be compared and decided on.

3. New ideas: creativity for solutions, bringing in the latest business solutions that are being discussed in the classrooms.

4. Proven business skills: previous experience can be key in making a decision.

5. Ability to work under pressure and in uncertain situations: “We can begin with what the “M” in MBA stands for: Master. The MBA connotes a mastery of business beyond experience alone. I think the foremost thing it means is that the person is prepared to deal with ambiguity and so is comfortable with a lack of certain and definable answers”, says Ron Cenfetelli, Professor of IT Management at the Sauder School of Business (University of British Columbia).

I even had a recommendation about what companies don’t need from MBA’s: a “know-it-all” attitude and substituting quantitative skills for observation and communication.

What do you think?