Impact of MBA Programs in Fostering the Development of Professionals: The Case of Bangladesh

Abstract

The human capital theory suggests that individuals can significantly enhance their knowledge, skills, and marketability by participating in education and training programs relevant to their job. Many professionals in Bangladesh are returning to academia, since they consider the MBA degree as an advanced managerial degree for their professional development. Enrolling in an MBA program represents a strategic investment in one's human capital. The impact of the MBA degree on the development of employability and the factors contributing to it remains undetermined. Thus, this study aims to evaluate how managerial education enhances employability and shapes attitudes in Bangladeshi professionals. An explanatory sequential approach based on mixed methods research design was followed for collecting and analyzing data. The study population consisted of the alumni of evening MBA programs conducted in public universities in Bangladesh and their employers. The analysis was based on 390 valid questionnaire responses and 10 comprehensive interviews with employers. The alumni of MBA programs acknowledged substantial improvement in managerial knowledge, skills, and attitudes, a viewpoint endorsed by their employers. These results may inspire individuals without an MBA to consider pursuing the degree, aiming to improve their understanding and abilities in management with the purpose of developing their future careers. The results present a persuasive case for employers to support their employees in pursuing managerial education. It is important to recognize that the growth of the knowledge and skills of professionals is closely linked to organizational development. An employee with proper managerial capabilities is considered as a valuable resource for any organization and also contributes to national development.