Before completing MBA, i myself thought that Finance is all about maximizing profit; but after completing MBA, I could understand Finance is all about playing with money; it is about cost minimization and wealth maximization. There is huge difference between profit maximization and wealth maximization?
Before doing MBA, i thought, Marketing is about selling and advertising; but after doing MBA, i understood, marketing is all about identifying customers' needs and wants and delivering value up to their satisfaction and building profitable relationship with them. Before doing MBA i thought, Management is about getting things done by others, but after completing MBA, i understood, Management is about planning, organizing, controlling, leading and stuffing and finally doing things rightly.
â€œSupplying knowledge to find out how existing knowledge can best be applied to produce results is, in effect, what we mean by management. But knowledge is now also being applied systematically and purposefully to determine what new knowledge is needed, whether it is feasible, and what has to be done to make knowledge effective. It is being applied, in other words, to systematic innovation.â€ (Drucker, 1993).
However, some of us have done and are doing MBA here. That is very good. I think everybody here in DIU should do MBA. Otherwise, their idea about business would be totally vague and incomplete. They will truly lack in business-knowledge.