Articles

MBAs And Their Role In The New Virtual Marketplace

2010-09-26

Today's global economy is completely different from the more limited environment that previous generations inhabited. The wide proliferation of the internet and the easy access to information and shopping brings a new spin on the type of skills required for businesses to survive. The virtual marketplace brings new challenges for established companies to conquer, and many are turning to individuals with advanced degrees to assist in these changes. An MBA is quickly becoming a requirement, along with years of work experience, for anything beyond an entry level position. This has introduced new online MBA programs to satisfy the demand for this skill set.

Traditionally, a customer would be able to interact with products in person, touching and visually inspecting their purchases before exchanging money for the item, or interacting with the company personally before engaging their services. Online relationships with customers can be difficult to gauge, due to a lack of physical presence and interaction between the company and the customer. Many customers are still wary of engaging in a virtual marketplace and prefer to conduct their business with brick and mortar locations, which cost significantly more than an online presence for many companies. In response to this, the requirement for MBA level involvement in planning and execution has risen considerably over the past decade, corresponding to the widespread uptake in internet usage. The education and experience that accompanies the degree can be invaluable in achieving goals in the virtual marketplace.

With many positions in these companies now requiring an MBA, there is great demand for open MBA program slots, especially at major universities. These programs can be extremely competitive because of the new employer requirement. However, most working individuals do not have the ability to dedicate themselves to a two year program at a major university; established jobs and families can prevent such a drastic life change. Many universities are implementing online MBA programs to satisfy this need. Universities are able to host additional students without the need to dedicate additional classrooms, and students can attend classes virtually at times that are more convenient for them and their lifestyles.

The internet has become a fantastic tool for communications and a way for companies to identify and market to a new customer base, but finding qualified and experienced employees to implement these strategies can be difficult. New online MBA programs are helping to meet the need for this skill set, while also providing the MBA candidate with a means to attend classes without disrupting their current position. Once they complete the program, the combined experience and the advanced degree prepare them to position their companies for excellence in the virtual marketplace.