Why the numbers matter – How an MBA helps advancement in numerous careers.
Walk into any business setting and you will soon find out how much the numbers matter. Leaders and managers rely on financial data and other information to make major decisions that help achieve their business goals. That’s why MBA programs include courses in accounting, finance and economics.
These skills are beneficial for managers of all types, not only those working in the accounting and finance departments.
For instance, a project manager might need to explain the cost benefits of a project and how it can be best funded. If this person is knowledgeable about financial forecasting, in addition to project planning, it can help this person examine these aspects of the project and keep it within budget.
Then there is the marketing manager who is responsible for planning, implementing and evaluating marketing plans. His or her creativity and ability to stay on top of the trends is a plus. But, he or she will need to look at data to find out more about consumer behavior and the efficacy of marketing techniques. This analytical approach, coupled with a solid understanding of accounting principles, are necessary to communicate and assess the return on investment (ROI) of advertising efforts and marketing’s contribution to the company’s bottom line.
In addition, many nurses are promoted to manage a floor or department. Suddenly managing budgets are as essential as managing patient loads. Accounting fundamentals are vital in this situation.
Professionals working in a variety of fields often turn to MBA programs to boost their quantitative and accounting skills to add more value to their positions. A course requirement for the MBA degree program at Alvernia is Quantitative Methods. This course is designed to familiarize the student with the use of mathematical and statistical methodology used in managerial decision-making. Alvernia’s MBA program also includes courses on managerial economics, finance and accounting.
Certainly, the value of numerical competence is high in the workplace. The modern manager works in an environment where gut instinct needs support from the mathematical and quantitative tools of business. Graduates from the MBA program at Alvernia find themselves employed in a number of management jobs at hospitals, manufacturing, banking and other industries in Reading, Allentown, Harrisburg and other local cities.