MBA in turbulent times

After recession, once markets start looking up, it will be the MBAs who would oversee the recovery. They would also be the first beneficiaries of the fresh economic upsurge

The battered economy of 2008 further confirms this statement. The shattered share market speaks volumes about it. John Major, the former prime minister of UK, aptly explained the situation in the following words. 'It is really, really, really a tough time'. So, the economy really is going through turmoil. What is happening is 'once in a century crisis'. The spectre of recession in the global economy in the wake of the steep rise in energy and food prices threatens to disrupt the rhythm of economic development. The crisis has choked credit flows and spilled to the stock market. There is high degree of nervousness among the investors which has been caused by liquidity crunch, high cost of borrowing, less availability of credit, instability in the forex market, oil prices and low level of confidence determined by the market sentiments.
As one crystal gazes into the future, one cannot but wonder whether any nation practising any of the "isms" whether, it be capitalism, communism or socialism, personified by mixed economy, are capable of weathering this kind of storm. How things would pan out foxes even the best of the economists.
So, the MBA education is going through turbulent times just like the industry. Despite the gloom, there is a clear case for those who want to take part in the action especially at a challenging time like this. It is MBAs who would oversee the recovery and it is the MBAs who would be the first beneficiaries of the economic recovery process. If the dreams of the MBAs are to be realised, a lot more needs to be done. What are they? Every B-School will have to turn into a creative factory producing innovative MBAs who will bring the turnaround in the industry, which is the need of the hour. After all "true leadership is born in the crucible of suffering." The choice is whether one wants to be a jobber or a leader, the best time is here and now to find out. To do that joining the right Bschool is important as not every MBA can get you a career or make your dreams come true, especially in the current turbulent times.