The top three things you learn by doing an MBA -- and why everyone should know these business lessons

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Undertaking an MBA is an investment in your future. If you want to make sure that your career is on the right track, then there’s no better way than asking what your strengths are and how you can improve on them.

We are living and working in a world that is constantly being disrupted, reinvented and always growing. In order to be at the top of your game through all those changes you might want to consider an MBA.

Here’s some of the best things that you will learn.

1. Don’t just fail – fail up

There’s a lot to be said for the new culture of accepting failure that has spread into every day corporate Australia from the startup world – but failure for the sake of it doesn’t help anyone.

Ask yourself: if you fail, do you have the right tools to pick yourself up, lead your team members, change your business strategy and press on?

Many misunderstand the desire to fail as a way of recklessly using a “learn as you go” mentality – throwing caution to the wind.

RMIT’s MBA culture embraces failure as a stepping stone to get where you’re going but it has more to do with applying unique problem-solving strategies, design thinking and a measured approach to failure.

And there’s a lot at stake here.

By tapping into design thinking and effective leadership, the leaders of tomorrow are better equipped for the rapid technological change that is occurring in business. AI alone could deliver a $US13 trillion boost to the global economy by 2030, but without the business leadership skills and problem solving to harness the tech wave, you’re going to miss out on the benefits.

2. Manage your brand authenticity

It’s no longer enough to be a great leader – you must also be an authentic brand ambassador and grow your personal brand.

Being in business means being authentic both in what you do and what your business does.

Why? Because corporate trust has been flagged repeatedly as the leading concern of CEOs and their customers. Customers are being increasingly discerning about a brand’s authenticity and ability to live up to its purported values.

Just last year Unilever came under fire for its mixed messages throughout a Dove campaign that industry groups and leading agencies dubbed as “racist”. It flew in the face of Dove’s diversity push and over a decade of the ‘Real Beauty’ campaign. By lacking authenticity, and consistency, Unilever lost years of brand equity.

There are techniques and long term soft skills that you can learn through an MBA that you won’t come across by learning on the job.

3. People first, tech second

We’re in an age of rapid technological change and no industry is untouched by this, from agriculture to medicine; from design to accounting – there has never been such a great time to disrupt industries and become a driving force for change.

But knowing your customer is the steadfast rule and an MBA program can show you how. Even though RMIT’s MBA program is tech focused, the leadership skills that you learn will help you to navigate the technological landscape. From digital risk management to technology futures, you can’t lose sight of technology’s role as an enabler.

“When companies have devised their forward-looking business plans they have often drawn them up in isolation from considerations about the impact on customers,” said Paul Howes, KPMG Partner-in-Charge of Customer, Brand & Marketing Advisory.

“This is all changing – organisations know they have to genuinely put customers first. Many will view a huge part of this as digital transformation – but digital is an enabler, not an outcome, and there is a trap of falling into a tech-first approach.”

RMIT’s new MBA online is catapulting students ahead of their peers by leveraging its strengths in technology, innovation and design.

This is a degree for the go-getters and entrepreneurs who are brilliant thinkers but need the tools to achieve their business success. Students are learning unique skills like personal branding, digital entrepreneurship and innovation in a way that sets them up for success.

The course still offers traditional MBA areas of study, such as leadership, strategy and cross-functional management, but RMIT is complementing this with skills that are needed for the new technological business landscape.

RMIT’s unique study model means that you can act immediately on your desire to be successful. The enrolment intakes occur every two months and students only have to study one course at a time across a series of seven-week study blocks.

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