Russia's boom exposes business education vacuum

This article’s Russia's boom exposes business education vacuum main point is the importance of the MBA in the business field nowadays and the changes that Russia went through considering the MBA.The Russian government has established over 100 business schools after the Soviet Union has collapsed to raise the standard of education to the international standards, and that is because the low level of business education in Russia was one of the reasons of the economical breakdown in Russia. Only .00003% has (MBA) degree, where in the United States, and Europe is much higher than that (0.0007% and 0.0002%) and that number is still increasing, so apparently the MBA degree seems to be the way for success in Europe and the US. The students with the MBA tend to gain double the salaries of those who do not have it; so Russian top students started to go get there degree and career abroad. However, that caused lack of either good quality managers or teachers to teach business in Russia, so that is simply the reason of the hold back of the Business education in Russia. What else was the reason for the business hold back in Russia is that people refused to take a year or two off to get the MBA fearing to miss opportunity. However, UFG's Ryan said that the opportunity cost for giving a job temporarily to get a degree is less because organizations became more institutionalized. Anyhow, the shortage of highly educated employee attracted many highly educated employees from abroad who ended up gaining three times higher salaries than those in Russia. Accordingly, Russia spent so much effort and money to establish schools and create opportunities for business students to complete their education and for non-business student to join the business studies. Why do you think the MBA is so important? The answer simply lies under the material the MBA teaches. Unlike other business courses, the MBA is an active business course; it teaches you case studies and real life (life like) problems, which enables business student to be more prepared to the job they're getting soon or the life they're going to experience soon. The MBA lessens the chances of causing mistakes in the job, and even if the employees cause a mistake, they are more likely to fix it than the others are; that why employers prefer graduates with an MBA degree.