Choosing An MBA

The Two Sides of MBA

On the one side, there is business school that teaches 'how to do business' on the other side is Islam that guides how to live life as a business man.
The global melt down shed lights on the dark side of Business Leaders, the decisions made by them spawned the catastrophe. Harward business school which is considered as the Mecca of Business learning took brunt of the criticism.
With 70,000 alumni in 161 countries, HBS boasts accurately that it has shaped the practice of business in every industry and country in the world. The school bears heavy responsibility for the global financial meltdown and the corporate culture that spawned it.

The business leaders pursuit of greed and taking big bets on mortgage backed securities to boost short term return for the shareholders, which in turn making them exceedingly rich. HSB was being criticized as an MBA factory that produced selfish and amoral operators who seek mainly to maximize their personal wealth at the expense of their organizations.

If the 20th century was the American Century, the 21st century is shaping up to be a Global Century - Prof Nitn Nohria( Dean of Harward Business School )

Rasulullah salallahu alayhi wasallam said, "Seeking Halal income is an obligation."
(Ibn Maajah Vol.1 Pg.81 Dar al Ahya al Kutub al Arabiyah)

During one of Khalifa Umar's (RA) 'Auditing & Conformance' visits to the market that he noticed a newly opened business venture, he went to the owner and asked him "Have you learned the etiquette of doing business?", the owner replied "No",he asked the owner to learn the etiquette first and then open the business.

Refer to Islamic Finance Here - Opens in new Window )

Choosing An MBA

If you would want to choose an MBA one of the best places to look for a suitable place is FT's MBA ranking in the link below.

Second thing you would want to look for is the accreditation for instance the key ones are
AACSB International
The Association to Advance Collegiate Schools of Business - focuses on overall quality and continuous improvement. 16 UK schools have achieved accreditation. Its headquarters are in St. Louis, Missouri.
The Association of MBAs - is market-driven and international in focus.
The European Quality Improvement System - is the accreditation arm of the European Foundation for Management Education (EFMD). It emphasizes internationalism and real world relevance.

The third and most important aspect is, there is significant investment needed to complete your chosen MBA in terms of financial commitment and time. Studies would need you to take some time off from your daily routine and time for family.It is not right to spend office time for your studies unless the management approve of it, in which case it is okay. Managing time is critical, which is also related to the way in which business schools delivers the classes, you might want to look into these as well.

There is a delicate balance between business and ethics, it may be impossible to keep greed out of business leaders but it may just be possible that social responsibility and ethics be made part of that greed.

Challenges As A Business Leader 

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