Getting closer to your dream of launching a career as an entrepreneur or business manager starts with a MBA.
Africa only has 300 000 managers of a million needed to effectively run the continent’s economy that has a Gross Domestic Product of over R40 trillion, according to the Deputy Minister of Trade and Industry, Mr Bulelani Magwanishe.
At a Youth Opportunities and Career Expo in Johannesburg recently Magwanishe stressed that “the youth should be at the forefront of ensuring that Africa's economic integration does not fail”.
Paresh Soni, Associate Director of Research at MANCOSA’s Graduate School of Business, said: “The large deficit of people in management positions certainly increases the demand for MBA graduates who are highly valued and sought after by employers across the world.
“The numbers clearly suggest that equipping oneself with a MBA will significantly increase the chances of employment – 700 000 more managers are needed on the continent.”
Soni was speaking at Leaderex, Africa’s largest gathering of business leaders, professionals and entrepreneurs, earlier this month where top CEOs and entrepreneurs offered expert advice on career development through informative masterclasses.
He said a MBA developed well rounded individuals with both hard and soft skills and unlocked opportunities for businesses to be built that would create the impetus for job creation and positive economic growth. This would in turn alleviate the triple challenge of unemployment, poverty and inequality.
South Africa is fast catching up to the global trend where youth seeking a career change or an opportunity to pivot away from the corporate world to enjoy greater work flexibility, pursue an MBA to open doors for self-employment. As such, a MBA provides the platform, network, vehicle, confidence and toolkit to implement entrepreneurial ideas.
“A MBA is not necessarily a career change - it is a life change and a process you undergo to rediscover yourself and your most fundamental purpose.
“Importantly, in the face of rapid changes in the marketplace, the advent of the fourth industrial revolution (4IR) and other disruptors, one needs to be agile and adaptable to remain employable and prepare for the future,” said Soni.
MBA programmes are designed to focus on learning about yourself, the political context, business and management competency and social dynamics facing societies.
“The nature of this era differs fundamentally from the previous, due to both speed and the magnitude of the change facing us. Preparing our students for what the 4IR will bring tomorrow must begin with education today.”