A Master of Business Administration degree gives graduates vital skills for managerial and leadership roles in the modern economy. From developing a stronger understanding of how to lead teams and departments to building critical analytical and process management skills, an MBA program focuses on the most relevant and useful topics for the business world.
The University of Alabama at Birmingham’s MBA online degree can help students who want to focus on the finance industry after graduation through the program’s finance concentration, as well as the general skills developed by all learners in the program. Let’s look at some of the current top issues in the finance industry, then review how relevant skills developed in the UAB MBA program help graduates address them.
Major current issues in the finance industry
There are a variety of risks, opportunities, and other concerns facing financial professionals and businesses throughout the country. Certain issues currently receive an increased amount of attention, whether due to their potential for business growth or the potential for companies to face negative consequences if they don’t address them.
Growing demand for digital experiences
Customers and clients, whether an individual at a bank branch or a business working with a financial services provider, have an increasing desire to handle some or all of their activity and review processes online. The drive itself is understandable: As the public and business decision-makers become more comfortable with technology, they’re more likely to recognize its benefits and want to utilize its features for the sake of convenience and efficiency.
Financial professionals need to develop proficiency with technology as well. These systems are already the norm in many situations, and time will only change those few areas where pen and paper are still preferred. Understanding how to use such systems, as well as how to effectively interact with clients through them, is an important consideration for MBA students who have aspirations of entering a variety of finance industry roles.
Increasing mergers and acquisitions
Mergers and acquisitions are always present in the modern economy and the financial sector, but the coming years may prove to be especially fruitful for such efforts. Mergers in the industry allow companies to realize a variety of improvements, from cost efficiencies and bringing more financial experts onto specific teams to offering customers more diverse products within a portfolio. An understanding of mergers and acquisitions can help graduates play key roles when working for a company involved in such an action.
Connecting with clients
Poor financial management can’t be saved by strong client service and communication. However, this factor can play a critical role when the core functions of a financial service provider meet and exceed the needs of clients. Strong connections and the development of a rapport help build loyalty and a positive image. With so many technological tools for gathering data about clients large and small now available, modern finance professionals in client-facing roles have to understand how they can use the the analysis these platforms provide to better their relationships.
How UAB prepares students for challenges in the financial world
The MBA coursework offered by UAB helps students develop relevant skills and experience that apply to both core concerns in the financial world and emerging issues. Consider how these classes tie into particularly notable concerns in the industry:
Information Technology and Business Strategy
Part of the Functional Core of the MBA program, this course offers students insight into how information technology shapes business strategy and supports a variety of functions in a company. Learners also develop competency with the terminology and basic structures of information technology, positioning themselves for an easier process when it comes time to learn about the specific tools and workflows used by their employer.
The material covered in this class can help students be more confident when dealing with a variety of technology-based issues in the financial world, including the growing customer demand for digital experiences and the use of data analytics tools to provide better client experiences.
Mergers and Acquisitions
This course offers an in-depth examination of the merger and acquisition workflows, including how the two differ and what happens to businesses as they prepare for, enter, and exit these transformative processes. While M&A is a specialized field, it’s important for students to understand it from a variety of perspectives. Strong knowledge related to M&A is important when making financial and investment decisions related to companies that may join together. A deep understanding of M&A can also signal to a client that a financial professional is experienced and competent. Finally, should a student’s own company enter into this type of agreement with another financial organization, this course can help them anticipate changes in their own workplace.
Earning an MBA with UAB
An MBA degree equips learners with critical insight and business skills that are relevant for the fast-changing world of finance. By earning their MBA online degree, students can develop relevant abilities and knowledge while following their own schedule and learning at their own pace. UAB’s fully online learning environment makes it possible to fulfill a variety of personal and professional obligations while developing useful new business management abilities. To learn more, talk to an advisor today.