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Building on success requires the right toolbox.
In the competitive and ever-changing work environment, business leaders believe knowledge and connections are crucial keys.
A Master of Business Administration (MBA) degree is one avenue professionals are more frequently turning to, as they seek to develop networks and improve their technical know-how.
However, innovation expert and MBA Director at the University of Queensland Tim Kastelle says these days not all programs are created equal.
"I think that 40 years ago you could be fairly confident that almost any MBA would give you the particular toolbox you needed," says Kastelle.
"Now under today's circumstances, I think you have to search harder to find a program that's going to help you build the capabilities you need."
Kastelle is a veteran innovator with more than 15 years' experience in managing companies, and he says any good MBA should cover the essentials but also embrace new ideas.
"The set of skills you need in the workplace is changing," says Kastelle.
"So, you need an ability to learn continuously, think creatively, communicate effectively and persuade and work collaboratively."
"If you can find a well-designed MBA that addresses those issues, it's very important for being prepared in the modern work force."
Kastelle identifies the three types of people who typically undertake an MBA: those who wish to progress their careers, those who wish to start their own ventures and those who want to make a career transition to a different industry.
The MBA program Kastelle now directs at UQ Business School has been specifically designed to address these three categories with an innovative twist.
"If you think about the question 'how do we adapt to a changing environment?' it's a straight-up innovation challenge," says Kastelle.
"UQ was the first MBA program in Australia to have an innovation course, it's built throughout the whole program.
"We have both academic strength in that area but we also have very real practical strength and an ability to work with firms that have problems within the innovation space."
Recognising that modern professionals are also time poor, often working full-time jobs, UQ's MBA program is flexible and can be tailored on a case-by-case basis.
For more information about UQ's MBA program, click here to visit the website or get in touch on 07 3346 8100.
This article was written in partnership with The University of Queensland Business School.
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