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PACIFIC BUSINESS NEWS
| February 27, 2009
M as t e r ’ s d e g r ees in business & mana g emen t Special Advertising Supplement
MBA Applications are Expected to Increase Master Your Future
“Pursuing an MBA degree … allows business professionals to stay current with today’s global business environment,” says Dr. Fassiotto. Up-to-date skills make an MBA holder an asset when a company’s growth or survival in a downturn depends on its ability to leverage global opportunities. “MBA graduates have the distinct advantage to make great contributions with organizations seeking to either innovate or sustain their businesses in a nationally tight economy, and to remain competitive in a global economy,” concurs MBA holder Divina Corpuz-Kuhl, Campus College Chair of Business College and Associate Director of Academic Affairs at the UniverAs the difficult economic cycle continues in 2009, MBA applications are expected to increase dramatically. That’s because, in the business world, one of the most well renowned indicators of acumen and achievement is the MBA degree. It certifies that its holder possesses the skills and knowledge necessary for business success not only when growth comes easily, but especially when profitability or even survival is in doubt. Below, experts from Hawaii’s MBA programs explain who might benefit from pursuing this vaunted degree in today’s economy. “Given the state of the economy, this is an excellent time for anybody to consider their current marketability, the relevance of their current education and experience, and/or the possibility of a career change,” says Dr. Michael E. Fassiotto, Assistant to the Provost and Director of Graduate Programs at Chaminade University of Honolulu. For career seekers as well as employed managers, a graduate degree in business is the ideal way to address any deficiencies in these areas. “People take graduate degrees in business for many reasons,” says Tom Vonk, Interim Campus President at Argosy Hawaii and National Dean of Business for
Argosy University. “In tough times, like we are in now, people do it to expand their skill sets in their existing jobs – making themselves more valuable to their employers. Still others get a graduate degree ‘just in case’ – hoping to land in a better place if they do lose their jobs in the down economy.” “Skill sets are constantly changing,” comments Jennifer Tutak, MBA Admissions Director at the University of Hawaii at Manoa’s Shidler College of Business, and an MBA program provides the opportunity to obtain the most updated skills and perfect tried-and-true ones. “Above all, the work force requires individuals who can think critically, communicate well, interact fluidly with teams, and cross-culturally lead and manage others. The pursuit of an MBA offers prospective applicants the chance to improve their abilities in these areas while simultaneously increasing their business knowledge, building networks, and making connections,” she says. For employed MBA seekers, developing more sophisticated business capabilities for their organizations is even more in our modern, global economy, especially amidst the present downturn.
change,” says Corpuz-Kuhl. “In all industries, both private and public sectors, there is a need for human capital skilled in critical thinking, problem-solving, communication, conflict management, organizational leadership, and management. An MBA recipient stands out with these skills plus the ability to recognize profitable growth opportunities through creative, team-based, out-of-box problem solving.” According to Vonk, these abilities will be valuable throughout one’s career, but they should start to prove their worth and provide an immediate boost even before MBA students receive their degrees. “Successful MBA and MSM programs provide students with competitive advantages while they are still in the program. These are, or should be, advantages that have
“an MBA program provides the opportunity to obtain the most updated skills and perfect tried-and-true ones.” “Up-to-date skills make an MBA holder an asset when a company’s growth or survival” sity of Phoenix’s Hawaii Campus. This ability to contribute is an advantage local MBA holders hold over competitors, according to Vonk, especially during a downturn. “Far fewer managers in Hawaii are awarded masters degrees in business than receive bachelor degrees,” he says. “They are set apart. This is true if the degree is a traditional MBA, or Master of Science in Management (MSM), which focuses more heavily on leadership and supervision.” Given a dynamic business environment, such a competitive advantage is crucial for job seekers and the companies that will hire them. “Our ever-shrinking global community is in a constant state of
results for their companies and organizations, and also for themselves. The programs are partially about making better decisions but also about implementing decisions and taking actions more effectively. Companies want employees who make a contribution; graduates can make a greater contribution.” And they are able to make that contribution to a greater number of companies or organizations. “An MBA degree not only increases personal development and offers a career edge, but generally opens doors to a wider variety of job opportunities and interests,” concludes Dr. Fassiotto.