The question that many aspiring MBA Degree students in Australia do or should ask is whether an MBA degree from a top ranked business school or educational organisation is always the most appropriate and correct choice to make. Choosing a business school to apply for and graduate with an MBA degree from is a very important and therefore difficult decision to make. A method of reducing the choice of which business school to apply to is to analyse the ‘rankings’ made available by related statistical authorities in Australia such as the Business Week or the Financial Times. When a business school or educational organisation presenting MBA degrees in Australia achieves a top twenty ranking then each one of those twenty schools should be looked at and considered by the budding MBA degree student to apply to for their degree.
This would be the obvious action to take but it is not always necessarily the right or wisest one to make. Top rankings achieved by related business schools do not automatically indicate and show or mean that these top ranked schools are better than others. Top ranking could point to and mean many different things as to why those schools achieved their top rankings. Potential MBA degree students need to think about first what they need and want from a business school and not to take the rankings at face value. What students need to know is that ranking of MBA degree courses usually only concentrates on global relevance and not specific country reference, namely the best business schools in Australia only, to choose from. The top ranked MBA degree courses are all focused on the global economy and global importance.
If the student is looking for a high level career in international finance or with or in a multinational mega corporation then those rankings are relevant and can be analysed and used by the student. However, what if the student’s focus is only on applying for and studying for an MBA degree in Australia? Many of the global factors that determine school ranking aren’t going to mean as much for the local Australian economic conditions, such as local laws, taxes and local markets. A local business school providing the specific MBA Degree course that the student wants to specialise in is the way to go. This would definitely be more beneficial to the student compared to applying and graduating from any of the twenty globally top ranked educational facilities. The bottom line is that students who want to study for an MBA degree in Australia must be very wary and knowledgeable as to how the so called top ranked business schools are ranked before they use those rankings to choose their business school to graduate from.
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