Emerging markets offer big opportunities for MBA students looking to differentiate themselves
Not all MBA programs are created equal and almost as important as deciding to study an MBA is deciding where to study your MBA. The school you choose will have a big impact on the career path you want to pursue after you graduate.According to the Graduate Management Admission Council’s (GMAC) Global Graduate Management Education Segmentation Study, which surveyed 5,900 MBA applicants in 15 countries, one of the top five reasons students give for choosing to embark on graduate management education is to stand out from others. Studying in an emerging market can help to give you that, and more.
An MBA in an emerging market is a rich experience in innovating solutions, the life-blood of modern business, can-do attitudes, cross-cultural collaboration, and humility. And while many top-ranked schools around the world offer study tours and semester abroad options for students, a full, year-long immersion in this environment prepares you for the real-world of business like nothing else can.
Here’s four reasons why you should consider an MBA in an emerging market:
1. If you can thrive in an emerging market, you can thrive anywhere
First off, in a world of low growth and low returns, emerging markets—with their fast-growing economies, young populations, and large consumer markets—are widely considered as drivers of global growth for 2018.
The student who has had a full-immersion experience in one of these booming economies will have an edge. Not only because they will have a deeper understanding of the political complexities and instabilities that go hand-in-hand with these contexts—making them more able to navigate them skilfully—but because they will have gained an ability to work in diverse teams and cultures—making them more adaptive and resilient.
These markets require you to think on your feet and become comfortable in an environment where uncertainty is the norm. One of the biggest criticisms levelled against MBAs today is that they battle to convert theory into practice. In an emerging market, you are much more likely to be able to practice what you are learning within the cut and thrust of a fast-paced business environment.
2. You’ll get a crash course in innovation and sustainability
Emerging markets are increasingly recognised as being incubators of innovation. They are markets that demand it. As the old adage goes, necessity is the mother of innovation and, confined by geographical, technical, economical or infrastructure challenges, solutions in emerging markets are often dictated to by the point of need, happening from the ground up. This, in turn, can drive innovation in the developed world in a process termed ‘reverse innovation’.
Consider for example, the low-tech wallet and payment service, M-Pesa, which sprang from the need for an innovative payment solution in Kenya and Tanzania and has subsequently spread to numerous other countries.
Why is this important? Because innovation is widely understood to be vital to business success today, the ability to innovate and problem solve gives individuals and companies an edge. Because much of the innovation in emerging markets is driven by a very real need to solve challenges such as a lack of healthcare or education, it is, by definition, concerned with sustainability.
Dianna Moore, a Texan who previously studied at New York University, elected to do her MBA in Cape Town, South Africa, to take a deep dive into sustainability and social impact. “I wanted a career that had more of a direct impact on improving people's lives,” she says.
“Businesses need to be sustainable, but for that to happen, they first need to ensure that they are financially sustainable. My MBA taught me both the traditional foundation needed to run a company well and the importance of thinking in a new, longer-term, and more collaborative way if a business is to stay relevant in the future.”
3. You’ll get great value
An MBA is an expensive degree and any consideration around value for money inevitably considers cost versus quality. While the top schools in emerging markets may not have the brand of the Ivy League schools, they are by no means light on quality. Several schools have triple-crown accreditation—meaning they are accredited by the top three global accreditation bodies. There are only 87 such schools in 33 countries around the world; 23 of these are located in emerging markets!
You could walk away with a rigorous, accredited MBA which holds its own in the international arena. If you combine the currency advantage (fees in local currencies compared to those in dollars, euro, or pounds), the accreditation, and the immersion in business on the frontier, there is tremendous advantage offered to international students.
4. People with international experience are easy to employ
In today’s jobs market, international experience is a must. More than 80% of employers say they look to hire business school graduates who have studied overseas.
Consider that Africa alone has an estimated 1,500 to 2,000 languages, with 520 spoken in Nigeria alone. China boasts at least eight linguistic groups, with hundreds of dialects and variations. And that diversity of language is likely to come with diversity of etiquette and social norms too.
This diversity spills over into the MBA classrooms in emerging markets. Shafika Isaacs, who studied an EMBA at the UCT Graduate School of Business in South Africa, says the range of cultures in the classroom stood out. “My MBA took me to the next level in engaging with people who think and act in radically different ways from me,” he says.
One word of warning: Studying your MBA in an emerging market may also come with lots of fun and sunshine, as well as a beautiful and exotic culture and city guaranteed to offer an extraordinary life experience. You may never want go home!
Amena Hayat is the career services manager at the University of Cape Town Graduate School of Business
Student Reviews
University of Cape Town Graduate School of Business (UCT)
New experiences and new connections
The university is a vibrant environment with a blend of cultures and languages from around the world. The lecturers are world-renowned and give their all in ensuring that the lectures are understandable and engaging. I would definitely recommend a prospective student to enjoy the UCT experience
The diversity
You can find people of every race and culture at UCT. This is especially beneficial for students from towns and rural areas. This diversity promotes self-development, foreign language study, courage, and a strong sense of moral principles. There is always academic support available, and students are given the assistance they need to succeed academically. Health care facilities are conveniently located on campus and are all easily accessible at UCT.
Great programme
The programme covers all the principles necessary to understand in order excel in your career and workplace. As a computer science graduate, the programme has better prepared me for real life. Not only with programming skills but with an in-depth understanding of the field I am in.
The campus is really beautiful, with a huge aspect of GREEN. There is literally plants everywhere which makes the place looks beautiful and shows the university cares for the environment.
All the students are super nice too!
fun
It was great fun and learning experience at the University of Cape Town. I believe it is ranked the top university of Africa because of its extra and exceptional way of learning which start from scratch.
Best Experience
The greatest thing about UCT is the amount of diversity - there are people from all over Africa and usually there are exchange students and just foreigners. The fact that it is also the top university in Africa is telling.
Best Short Courses
I recently complete the UCT marketing short online course in partnership with Getsmarter. I had a fantastic experience. I would recommend this to anyone. It take Up to 3 month to complete the course. There is a variety to chose from. It is great to help you advance in your career but it will not take years to complete. Great way to equip yourself in different areas and definitely worth the money you spent. Great tutors as well
Top Notch
This is the best university ever. The students' wellbeing are their top priority. During the fire that occurred at the campus, resulting in facilities such as res and libraries badly burned. The university took it upon themselves to sent us to private accommodation where they paid for our stay. I will never forget that experience and will always be grateful for what UCT has done!
Amazing Experience
I started my journey at the university of Cape Town in 2019, as a foreign students I can say it was accommodating and not even a day did I feel discriminated. It has good facilities and ranked one of the best university in South Africa. The fees are expensive though especially for foreign students
Brilliant for FM career
The courses were interactive and the lecturer and support staff were supportive. There was a wealth of knowledge in the casework and the outcomes were realistic and relevant to the industry. The assessments were clear and unambiguous.
prestigious reputation
UCT is a prestigious institution known for its high academic standards, research excellence, and contributions to the global academic community. The university has a diverse and experienced faculty, many of whom are renowned experts. UCT's campus is located on the slopes of Table Mountain, offering stunning views and a picturesque environment for students to study and socialize. The school is also a hub for research and innovation. contrary to that, UCT's tuition and living costs can be a barrier for some students, and financial aid options may be limited for international students. While the campus is generally safe, certain areas around the university may have safety concerns, requiring students to be mindful of their surroundings. Some undergraduate courses at UCT may have large class sizes, which could impact individualized attention and student-faculty interaction.
Transformative community
My overall experience has been exceptional, One of the highlights of studying at UCT is the university's renowned academic reputation. The stimulating and challenging courses provided by passionate and knowledgeable professors have allowed me to expand my knowledge and explore various fields. UCT boasts a plethora of student clubs, societies, and sports teams that cater to diverse interests. This has enabled me to pursue my passion for music by joining the university's orchestra and collaborating with fellow musicians. The campus facilities are well-maintained and modern, offering state-of-the-art libraries, laboratories, and recreational spaces. The university's commitment to sustainable practices is also commendable, with initiatives such as recycling programs and eco-friendly buildings. In terms of support services, UCT has an extensive range of resources available to students. Finally, UCT's location in the vibrant city of Cape Town adds another dimension to the student experience.
Academic excellence and student wellness
UCT is a place I feel at home. As a first year international student I thought it was going to be difficult for me to adjust to university life but this place proved me wrong. Through it's mentorship program life becomes easier as one will have someone as a mentor. This is something that made my learning easy. Travelling around the campuses and residences is easy using UCT shuttle buses. The main campus is situated just below a mountain and this provides a beautiful view of nature.
