The second most common mistake that companies make in recession is to cut back on marketing and training expenditure. These are the very areas where we need to increase investments. It is only well-trained and motivated people who can help keep business on course during a downturn.

How relevant is an MBA?

A business degree can benefit anyone in any industry, including pharmacy. With a business degree an accountant can become a financial analyst. A computer technician can become a systems manager.

A marketing assistant can become a marketing director. The reason is simple €“ employers across all industries, including pharmacies, recognise a business degree, especially an MBA, as education advancement. Earning a business degree is one of the smartest ways to attain a promotion, to enhance job fulfilment, improve your career prospects or to enhance or build your own business.

Business education will teach you the fundamentals for any financial or managerial position, but it will also help you to build on important skills considered universally valuable in any industry: leadership, communication skills, report writing, teamwork, numeracy, problem solving, data analysis, computer literacy and time management.

The MBA is designed to transform your career by equipping you with the knowledge, skills and networks to make a difference in the organisation your work for as well as for yourself.

More than just a business degree?

An MBA is just as valuable to your personal life as your working one. Every day you face situations that are not dissimilar to those you face in business, for example whether you are negotiating terms from a supplier or pocket money for your children. The art of negotiating does not change, although the context may be a little different.

Similarly, learning to manage financial budgets for an organisation is no different from managing family finances. Decision-making techniques taught at business school similarly benefit both your business and social life.