The Value of Soft Skills in a Changing Market
In today’s business environment, technical expertise alone isn’t enough to guarantee career success. For example, if two applicants with equal skill sets interview for a role, what influences who gets hired? Chances are, it’s the more professionally personable one. We know this, and our students know this. This may be because of the soft skills they display.
Soft skills can be understood as people skills. They are the personal attributes that help you interact effectively with others and are just as valuable as technical skills. In fact, a 2023 report by Deloitte revealed that 92% of companies consider soft skills as essential as technical skills. The report highlighted teamwork and communication skills as particularly valuable to companies. The perspective seems to be that soft skills help with executing technical work.
The Top 9 Soft Skills You Learn in an MBA Program
At LUBM, we understand that an MBA program shouldn’t just equip you with business knowledge. In the real world, graduates will have to navigate complex work environments with people. Therefore, it should also help you develop the necessary soft skills to thrive in leadership and management roles.
Thus, we have partnered with exceptional UK universities to offer fully online courses. They provide a degree of affordability and convenience to learners. Besides, an MBA by its very nature is designed to build business leaders. And part of that is to have strong soft skills like the ones below:
Communication
We cannot stress the impact that strong communication skills can have on a career. This applies to both verbal and written communication in business settings. An MBA program refines your ability to present ideas, negotiate, and listen actively.
Leadership and Management
A 2022 Nestor Insights Study reported that soft skills have gained more value due to the rise of AI. As it increasingly takes over repetitive tasks, skills like empathy and collaboration become more important.
An MBA’s curriculum is often focused on leadership development. Part of this is to learn to work as part of a team. Moreover, there is an emphasis on managing teams, projects, and resources effectively.
Problem Solving
The same 2022 Nestor Insights Study emphasised the value of critical thinking in an AI-driven world. Career-wise, employees must be able to solve complex challenges. Thus, companies continue to foster a culture of innovation and maintain market competitiveness. Among soft skills, problem-solving abilities are some of the most vital and timeless ones. An MBA typically places emphasis on strategic decision-making and creative solutions. So, our graduates and alumni distinguish themselves on that front.
Time Management
We think this one is pretty self-explanatory. Time management is a soft skill that helps beyond work. It can impact personal and social lives significantly. We all have a friend who absolutely cannot be on time. How does it feel when they come late for a catch-up? Further, how would it appear if a working professional in the UAE joins a meeting late?
Time management is a necessary soft skill. Fortunately, an MBA program for working professionals hones that skill. Students typically balance coursework, projects, and professional commitments at LUBM. They come out the other side as masters of time management. They can prioritize tasks, manage deadlines, and stay organized by the end of the MBA course.
Adaptability and Flexibility
Much like our courses are valued for their adaptability and flexibility, so are our graduates. An MBA imparts these practical soft skills through its course. Its programs are designed for people who want to lead. Thus, the course teaches students to thrive in diverse, changing business environments. In the UAE, this is especially relevant, given its status as a global financial hub. Graduates working here should be able to navigate market shifts and global business trends with ease.
Emotional Intelligence
A key facet of being a leader is to understand and manage your emotions and those of others. It is a vital soft skill that an MBA teaches learners. This is because emotional intelligence aids in building strong workplace relationships.
A Global LinkedIn Data Report from 2023 stated that ‘members with both hard and soft skills got promoted 8% more than members who exclusively listed hard skills on their profiles.’ Perhaps some food for thought?
Networking
Perhaps this one is self-explanatory. Having strong soft skills, like good communication, goes a long way to creating lasting connections. This is applicable in our personal and professional lives. An MBA program offers numerous networking opportunities with peers, faculty, and industry leaders. What’s more, our online program has a diverse student body from many countries.
Thus, our students build a more global network of professional connections. An MBA program is the perfect place to connect with peers in the same industry. Further, we bolster this through our alumni meets, which encourage students of different batches to mingle.
Conflict Resolution
Conflict resolution is a soft skill centred around finding a cordial solution to a problem. This can happen through active listening, compromise, or a range of solutions. Being a manager or leader involves mediating and resolving conflicts in professional settings. An MBA course is crafted to build strong business leaders. And thus, it involves learning strategies to handle disagreements diplomatically.
Negotiation Skills
This is a soft skill so valuable that it’s almost a technical skill for leadership roles. An MBA hones the learner’s ability to negotiate with stakeholders, clients, and colleagues. As it is an impactful part of leading a business, an MBA program equips students with strategies to achieve win-win outcomes.
Conclusion
As we’ve proven here, an MBA program is not just about acquiring technical skills. It’s also about developing the soft skills that will push graduates toward leadership roles and success. It is a proven fact that these skills will help learners build strong, collaborative workplace relationships. Additionally, it supports professional performance.
If you’re looking to advance your career or switch to a different field, an MBA can be your way in. LUBM courses have been producing well-rounded business leaders for a decade now. Enroll in an MBA program and improve your career and life.