Why start an MBA program This is a serious question with serious financial and time implications. Especially given that I am currently still flying, started a business almost two years ago, and now am beginning a journey for the next 18 months to complete the MBA. However, for me, after serious consideration, it was simply, yes I need to do this now. The business I started along with my business partner two years ago involves providing export financing and trade insurance services to both foreign buyers and American suppliers. When I started looking at MBA programs, I quickly learned that the only school offering me the flexibility and the program I wanted was Phoenix University. In reviewing the MBA program in Global Management, I learned that this program was exactly what I needed to help my business flourish in the international market place. Courses in international market, international finance, and international planning strategy and implementation were exactly what I needed as core acumen to succeed in an international business. Additionally, in reviewing my Jungian assessment, I reaffirmed what I had known all along that I am viewed as a strategist, and being the President of my company, naturally looked upon as the leader to move the company in the right direction.
International marketing is very different than domestic marketing in that one has to first logistically learn the market in a country that can be thousands of miles away. Secondly, there are cultural and language barriers that have to be overcome. In the description for MKT 571, International Marketing, the following course description is provided, ???This course prepares students to apply international marketing concepts to create and sustain customer value. Students learn to solve marketing problems in a collaborative environment presented across international borders. Topics include global market research, customer relationships, branding, market segmentation, product development, pricing, channels, communications, and public relations.??? (reference PU). Clearly, a course in international marketing will teach me how to put in place an international marketing plan to help grow my business.
International finance is a key area, and once again very different from domestic finance in that in doing credit analysis on a business abroad has many challenges. There are issues such as cultural financial philosophies, commercial risk analysis, and underwriting. In the Global Management concentration, the perfect course for this is FIN 571, International Corporate Finance (reference). This course teaches international business valuation, cultural approaches to time value of money, long term financing solutions, hedging mechanisms, capital budgets, working capital, cash flow, and constraints on financial flows. Once again this course will be instrumental in teaching me core international business concepts in finance.
Lastly, in operating any international business, one has to have a strategy and how to implement that strategy to remain competitive in the market. The perfect course to teach this key issue is, STR 581, International Strategic Planning and Implementation (reference). This course teaches key concepts in international planning and implementation to gain competitive advantage. Topics include risk management, strategic analysis, implementation, evaluation, corporate social responsibility, and direct foreign investment. Clearly without learning these key concepts in cross border transactions, a business is doomed to fail.
As someone who is looked upon as the natural leader of the organization, and being a strategist and a planner, it is my responsibility to guide the company into successfully entering an international market, and once there, to stay competitive. Without the MBA, this would be a very difficult task, clearly completing the MBA in Global Management at Phoenix University will help me accomplish this goal.