Whether we like it or not, the COVID-19 incident will probably reshape our futures in ways we couldn’t dream of just a few years or even months ago. One area that will certainly never be the same is business. We are now seeing the major flaws in our global chain supply, and business owners who were not able to adapt before now will have no choice to do so now if they want to survive.
However, this has also been an eye-opener for many who may now explore new options they never did before. In fact, many entrepreneurs are now looking at online education to get a better foundation and get ready to face the challenges of tomorrow. This has also revived interest in online MBAs, which were still viewed as a marginal option to some. But they could end up being a lifesaver and change the way we see business education forever. Let’s take a look at a few reasons why getting an online MBA could be the best decision you make right now.
Choose the University of Your Choice No Matter Where You Are
The biggest and most obvious advantage of getting an online MBA is being able to choose from some of the most prestigious faculties in the world, no matter where you are on the planet. No longer do you have to be limited by geographical location, which gives the opportunity for high achievers to attend universities that match their level without having to relocate.
Whereas someone from rural Germany only had access to a limited number of MBA programs before, they can now join a decorated and highly recognised online MBA like those offered by Aston University Online. They can then not only take these credentials back to wherever they live but anywhere around the globe where they may find opportunities.
This also opens the door for students from emerging markets who might feel either geographically limited or don’t have many options for where they live. These credentials then become even more valuable and allow them to fill high demand positions where they are.
You Might Be Able to Get Your MBA Sooner
A lot of business owners may also be feeling a sense of urgency and may want to get their qualifications as soon as possible. The good news is that it’s usually possible to get your credentials much quicker through an online MBA. Conversely, it is often also possible for students to stretch out their studies if they need to manage their business and they might not have the time to dedicate themselves to their MBA full time.
Some online MBAs can be completed in as little as nine months and will give you the exact same level of education and credentials as any other MBA program. Not only that, but you’ll be able to use the new skills you’ll learn as you go and start improving your business acumen instantly. A shorter program also means that you could earn a double degree in the same amount of time it would take another student to complete one.
Another thing that makes MBAs such a great choice for entrepreneurs is the flexibility they offer. Depending on the program you choose, you might be able to take classes in your own time. However, some might prefer the structure that comes with synchronous classes.
Synchronous classes require students to follow lessons at set times during the day. However, you still have some options if you want to fit your classes around your schedule, like taking classes during the evenings or on weekends. Synchronous classes also allow you to interact with teaching staff and other students in real-time.
Asynchronous classes also have their benefits. For one, some may simply not be able to sit down and take classes at the same time every day. This is especially true for those working on a contract. There’s also a large portion of the population who are night owls and they might prefer to work during their own hours. These are all factors that make online MBAs such a great option for independent workers looking to further their education without interrupting their current schedule.
You’ll Get Access to a Wide Number of Opportunities
One of the greatest, and often overlooked, benefits of online MBAs is how diverse of a crowd they attract. Not only will you be able to virtually rub shoulders with students from all over the globe, but also from a variety of professional backgrounds.
This could give you the opportunity to get an inside look into a variety of sectors you may have never considered before. You might be able to connect with IT professionals, startup owners, legal professionals, or self-made successful entrepreneurs. You’ll be able to enjoy a wealth of information only a few will have the privilege to access.
Not only that, but you’ll also have the chance to build genuine relationships that might be helpful later in your career. Or you might be able to learn about new markets and build strategic partnerships. Not to mention all the networking and mentoring opportunities you might be able to take advantage of.
While online MBAs tend to be slightly less expensive when it comes to tuition, they allow you to save in a number of other ways. For one, you don’t have to worry about transportation or campus costs. Course materials also cost a lot less. No accommodation costs to pay, and no money to spend on expensive cafeteria meals. These are just some of the ways online MBAs will allow you to keep more money in your pocket, money that could be used more wisely.
You’ll Get Access to Tons of Resources
Some people might be under the impression that online MBAs are limited and impersonal, but that couldn’t be farther from the truth. You might be surprised by how accessible the teaching staff is, for instance. While interrupting teachers and getting personal assistance during class in a traditional setting might be close to impossible, doing so during online classes can be done at the touch of a button and in a discreet way.
Not only that, but teachers also do a great job of keeping themselves available to students after classes. Most will have a clear schedule where you’ll be able to contact them either through email or video conference.
Interaction is also made easy with other students in your class. Most programs offer a variety of collaboration tools that you can use. You can also use third-party tools to facilitate teamwork, not only with people in your class group but with other students all over the world.
Demand for MBAs is Set to Skyrocket
Another reason why now is the best time to get an MBA is that there will be more demand for professionals who understand business at a holistic level. You might even see the MBA becoming a qualification for positions where it wasn’t needed before.
As a business owner, you’ll also need to be more well-rounded if you want to survive in the post-Corona business climate. More stress will be put on supply chains, and you’ll need to be able to deal with sourcing issues. Not only that, but an MBA will also give you the business skills needed to better manage distance work, which will become a priority in this new world. Entrepreneurs with a deep understanding of agile methodologies will have a serious leg up on the competition. Especially those who got their qualifications online, as using remote management tools will be second nature to them.
Soft Skills will Become More Important than Ever
Businesses will also need a new breed of leaders, and if you have any flaws when it comes to soft skills, these will only be exacerbated by this crisis. Leaders will now have to be adaptable and manage flexible groups. They will have to be able to foster psychological safety, which is when team members feel empowered to speak their mind on concerns they may have, ideas, and be unafraid to talk when something is not going according to plan.
Being able to clearly communicate and execute plans will become essential. Being able to boost the morale of your troops and keep them engaged even with the lack of direct contact is another skill that will be essential for entrepreneurs of the future. No longer can you trust your gut feeling and be caught off guard. You’ll need to become a master of risk management, cost analysis, customer relationships, and developing a trust-based culture within your organisation.
These are only some of the reasons why you should strongly consider getting an online MBA right now. Not only will you be able to acquire expertise that will allow you to weather the storm and prepare for future potential crises, but you’ll also be able to learn a set of skills that will make you a valuable asset for any organisation.