An MBA isn't necessary to grow a strong career.
In the business world, the idea that a Masters of Business Administration (MBA), is required for success is changing. People spend thousands of dollars to attend university to get this qualification, and while it’s essential to become as qualified as possible to excel in your field, an MBA is not necessary to effectively lead your team. Although advance degrees have their benefits, leadership excellence is about many diverse qualities and experiences that extend beyond academic achievements. If you’ve been grappling with the idea of gaining an MBA to assist in successfully leading your team, here are some tips to help you decide.
Leadership Is A Natural Ability
At it’s core, leadership is a natural ability that individuals are born with. Formal training and education can definitely refine and improve these qualities, but you are either a leader or you are not. These natural qualities include decision-making, empathy, and the ability to motivate others. These qualities become evident early in life where children are able to lead their friends, take the lead in difficult situations, and inspire their loved ones. Effective leadership is not all about learned skills, because a person can gain all the right qualifications and still be a terrible leader.
Emotional Intelligence Is The Key To Effective Leadership
Research suggests that 71 percent of employers place emotional intelligence (EI) above technical skills when evaluating potential candidates. According to the pioneer of EI, Daniel Goldman, emotional intelligence is defined as the ability to understand and manage your emotions, as well as connect with the emotions of others. Emotional intelligence plays an important role in effective leadership for several reasons, here are some of them:
· Communication: Leaders with high EI are excellent communicators. They can express their thoughts and ideas clearly at the same time as tuning into their teams emotions, which leads to better understanding and improved collaboration.
· Decision-Making: Leaders face a lot of difficult decisions, and emotional intelligence allows them to consider how their decisions will emotionally impact their team.
· Conflict Resolution: There are always going to be conflicts in a team. Emotionally intelligent leaders can effectively manage conflicts because of their empathetic nature and their ability to understand the emotions of others. This leads to a better understanding of everyone’s perspectives, making it easier to find a solution.
Practical Experience Is More Important Than Qualifications
Practical experience is more important than qualifications because it gives you deeper insight into critical skills such as relationship-building, adaptability, and decision-making. Leaders with hands-on experience understand the complexities of their industry which allows them to develop deeper connections with their team. Qualifications are great when it comes to technical knowledge, but they are not so effective for real life scenarios. There are so many nuances to situations in the workplace, that it’s impossible to cover or even know they exist in the classroom. Additionally, practical experience helps develop problem-solving skills and resiliance.
Leadership is fundamentally about your innate qualities. As mentioned, you’ve either got leadership qualities, or you don’t. With that being said, your main focus should be on developing your leadership skills, and while that might not mean going all out and getting an MBA, there are plenty of short courses you can take to help you lead your team more effectively, which will cost a fraction of the price.
