6 Leadership Qualities That Complement Your MBA
Friday, September 13, 2024
Earning an MBA can enhance your leadership skills. Learn how to be a great manager with these leadership qualities that complement your MBA degree.
Qualities Every Good Leader Should Have
“Leadership is not about being in charge, but about taking care of those in your charge.” —Simon Sinek
A good leader can drive a lot of positive impact, be it in a corporate setting or otherwise. Pursuing an in-person or online MBA degree may make you more likely to get hired for and succeed in managerial roles. But does the degree alone make you a good manager? No, not all MBA graduates make great leaders (although they certainly do have the potential). If that were the case, hearing people complain about their bosses won’t be so common.
There’s a popular saying—people don’t quit jobs; they quit bosses. Let’s try to assess the truthfulness of this statement by looking at some statistics.
A 2022 survey covered by The Economic Times states that poor leadership is not the top reason for Indian employees’ switching jobs. 41% of the participants found career growth (or the lack of it) to be the key reason for switching their jobs, 34% left their last company because of undesirable work culture and policies, and 33% made the switch because of bad bosses.
The study reveals that bad bosses are not the top reason for people quitting their jobs, but they’re still a pretty big reason. A 2024 Gallup Study reports that 86% of Indians feel they’re struggling at their workplace. Would the number be so staggeringly high if people in leadership roles were doing their job correctly? Probably not.
Imagine this: a working professional decides to boost their career and pursues an online MBA degree without quitting their job. Within 6 months of graduating, they get a promotion and are managing a group of subordinates. Now, does their educational qualification guarantee effective leadership? That’s debatable. While a high-quality online MBA course teaches leadership and management in theory, it doesn’t guarantee good leadership.
In this blog, we will take a look at 6 qualities that reflect excellent leadership. But first, let’s understand why it is crucial for MBA graduates to be good leaders.
Why Should MBA Graduates be Good Leaders?
Nearly 40% of C-suite executives on the 2022 Fortune 1000 list were MBA graduates. While not every manager in the world is an MBA grad, a majority of leadership roles in big, small, and medium-sized enterprises are bagged by people with an MBA. So, why should MBA graduates be good leaders?
Bad Management Costs Big Bucks
A recent Gallup report shows that bad management indirectly costs the global economy $8.1 trillion in lost productivity each year. 2019 stats show that bad managers cost US and UK companies at least $960 billion USD per year and £84 billion GBP per year, respectively.
On the other hand, a great manager can increase a company’s profitability by 48% (Gallup study). Additionally, professionals who work under good leaders are 15 times more likely to excel (Gartner, 2023). To bring about a positive change in employee productivity and business profitability, MBA grads must be good leaders.
Bad Management Has a Long-Lasting Negative Impact
Stress is a huge factor behind low productivity and deteriorating mental well-being among employees. Micromanagement, poor communication, inability to provide constructive feedback, burdening employees with unreasonable workloads, etc., are some common practices among bad managers that lead to stress among working adults.
Apart from the obvious financial losses, bad managers can also cause long-term stress-related health issues and depression among subordinates. Nobody wants to live with that kind of guilt, right? That’s another reason for MBA grads to be good leaders, so they impact lives positively, not negatively.
Bad Management Dips Employee-Retention
A study by the Chartered Management Institute (CMI) revealed that 82% of workers entering management positions in the UK do not have any formal management or leadership training. A recent research conducted in Finland revealed that 44% of participants left their previous jobs because of their manager’s poor leadership skills. What’s more, the study also revealed that depending on the experience, termination costs companies an amount equal to 6-14 months' salary.
The bottom line is that people quit or want to quit their jobs when they sense poor leadership qualities in their supervisor. To make the best of your on-campus or online MBA degree, you need to be a good leader who encourages employees to stay on board and grow with the company.
6 Qualities That Make Managers Great Leaders
A managerial position is often the most conventional step in a professional’s career growth. Getting there is not always easy, but a crucial credential can certainly increase your chances—an MBA.
For a working professional, doing an on-campus MBA can be quite difficult. Therefore, many turn towards the flexibility and convenience of an online MBA degree. Among Indian employees and employers, online master’s degrees from the USA have started gaining popularity because of their high quality and affordability.
With a wide range of specializations available, SNHU offers 100% online MBA degrees specifically tailored for Indian learners. A world-class online MBA course may make you eligible for lucrative managerial positions, but these 6 qualities will make you an unforgettable leader that employees and employers appreciate:
Lead by example
Imagine a boss who always arrives late to the office, reprimanding a subordinate for not being punctual. Not a pleasing scenario, is it? As a leader, one must be self-aware and lead by example. It is a manager’s responsibility to practice what they preach. So, how do you inculcate good values and build productive teams? You lead by example.
Take ownership
Taking accountability is a huge part of being a good leader. In workplaces, it is common to witness people play the blame game. Managers often get credit when something goes well, but it is not unusual for someone lower in the corporate hierarchy to get the short end of the stick when something doesn’t go well. A good manager will take responsibility for any shortcoming without letting it impact their team.
Communicate clearly
Poor communication can often lead to confusion and disarray. As a leader, it is important to clearly and concisely communicate your goals and vision with the team. It is also important to provide feedback in a positive manner. Good communication also involves being an attentive listener. While it is imperative to be crystal clear when sharing your goals and vision, it is crucial to also listen to the team and understand the challenges or address the queries of each member.
Forster Relationships, Gain Trust
A positive work environment is a big booster for productivity and healthy competition among employees. The first step towards creating a positive environment is by getting to know the people you’re working with. A good leader should aim to build truthful relationships with all members of the team. Additionally, employees feel happy and confident working with a supervisor they can trust. To build that trust, a leader must always be honest and be a man/woman of their word.
Build Confidence
It is important to build confidence among team members. You can’t be a jack of all trades and hand-hold every individual till their tasks are accomplished. Good leaders are those who provide followers with a clear set of instructions/guidelines and empower them to work independently with minimum interference.
People get hired for different roles based on their skills and experience. A leader who can build confidence and empower team members is much more respected than someone who is constantly micromanaging.
Don’t be Afraid to Think Out of The Box
Many managers like sticking to traditions and playing it safe. An approach that has worked in the past may not be best for the present and the future. As a leader, you should be open to taking risks and support employees in thinking of new and more effective ways to execute tasks. Growth doesn’t come automatically. Innovative thinking and new ideas play a huge role in the success and perseverance of companies.
Assess every idea proposed by the team members, and if you feel they are worthy, let them shoot their shot. If the idea doesn’t work, don’t blame them. Be accountable and take responsibility. The respect you’ll get from your team is bound to compensate for the small failures.
Want to elevate your managerial and leadership acumen? Learn how SNHU’s online MBA degree can kickstart your managerial success. Inquire today!
Can an MBA Degree Make you a Good Leader?
Yes, it can. But it’s not 100%. Acquiring good leadership skills involves practice and working in a corporate setting as a manager.
Reading a bunch of material on how to manage people and communicate better won’t automatically make you a master of management or communication. However, depending on the specialization you choose (and SNHU offers many of them), an MBA can give you the theoretical skills to potentially be a great leader.
However, you must choose a course that best suits your needs. If you are a working professional in India, earning an online MBA degree from SNHU is a great way to elevate your future growth in a time-flexible and affordable manner. Get in touch with us to inquire about our variety of online MBA degrees.