As an MBA student there are number of classes we take in our first year designed to given us an understanding of a wide range of business aspects, from finance and accounting to data analytics and marketing. As someone who came from the supply chain background I found these classes to be exceptionally in learning the about industries I had not previously had experience with. There is one class in particular that students take in their second semester that I have found really show what the MBA is all about, that class is Strategy Formulation and Implementation.
In this class MBA students take all of the knowledge they gained in the previous semester and apply it to cases about real companies and the decisions they made to reach a level of success and what decisions they should make when at a strategic crossroads. This class helps to put students in the CEO’s shoes and consider all the opportunities and risks they face when considering the decisions needed to maneuver a company through the marketplace.
Along with the in-depth case studies and discussion-based lectures there are computer simulations that let provide students with a company their own to run, and where they can see the outcomes of their decisions. Something as straightforward as a manufacturers decision on its delivery schedule can have profound effects on its profitability and place in the marketplace.