It is a human tendency to get swayed by what the majority does. We often decide based on the latest trends or what others think.
We fall prey to myths and may not take time to validate popular opinions. Sometimes, we may not have the know-how to cross-validate.
Group conformity (a behavior exhibited under the influence and pressure to fit in a group ) is prevalent in different walks of life. It could be family, friends, college, work, or society. Some decisions taken under such circumstances may not affect our life. But for those decisions which do, we should be cautious. We need to make a conscious effort not to follow the herd mentality blindly and make informed decisions.
As an MBA student, you will be part of an institutional setup and interact with students and teachers from various backgrounds. Peer pressure is the driver of group conformity.
In this blog, we will discuss the common mistakes that an MBA student makes due to group conformity.
The five mistakes that an MBA student must avoid are:
1. Choosing a specialization or domain based on its paying capacity: I am not against earning good money. Money is required to lead a good life. But to make a career decision purely based on how much money a particular specialization or a domain (industry) offers will make an ill-informed decision.
I have seen many students opting for marketing or finance specialization or opting for Consulting, BFSI, or the IT industry purely because they provide high-paying jobs. What happens after those people join those organizations or choose that specialization?
Are they happy?
Are they enjoying the work?
Do they love what they are doing? Or
Are they just leading a mechanical auto-pilot life?
There has to be a natural liking for the specialization. You should possess those innate qualities which are necessary for such roles. If you are a round peg in a square hole, you will not sustain it in the long run.
Do not follow the herd mentality while choosing a specialization. Assess what you are good at. Find out the skill sets required for various specializations. Interact with experts to learn more and then decide. We only get one life. Live it with joy; We are not machines to run on autopilot mode.
2. Lack of knowledge of other specializations: You may have opted for HR, Marketing, Finance, or another specialization. Being good at that function is necessary, and in-depth knowledge is vital. But it’s a myth that you would not require knowledge of other specializations.
To lead a team, you need to have a holistic approach. You must manage your team, which will require people or HR skills. You need to sell your ideas to your team members or other departments; for that, you need marketing skills. As the department head, you will draft a budget for your team; it will require knowledge of finance.
A leader has to know all the functions. You should have at least the working knowledge. Train yourself in case specialized knowledge is required. If you do not have a holistic approach, you may lose out to others who have it. For example, you are contending for promotion to the department head. A candidate understands other functions, whereas you lack that knowledge. In that case, the other person will get promoted. Do not lose out on opportunities. Learn about all the functions.
3. Not setting a career path: Do you think opting for the specialization is the only big decision you need to make in an MBA? Well, that is just the beginning. There is a career path that you have to decide on. You need to know about the various opportunities available in that specialization. Ask yourself these questions:
o What kind of job profiles are available for the chosen specialization?
o What is the growth trajectory of that function?
o How long does it take to reach each level?
o What are the additional skills required for each role?
o How to acquire the knowledge?
o How can I fast-track my career growth?
These are just a few questions that suggest the amount of planning you can do. Without a career path, you are aimless. You will be just picking up opportunities that come your way rather than taking the road toward the options you want. There is a lot of difference between the two. Be in control of your life; else, the circumstances will control it. Define your career path, and work towards it. Your life starts after choosing the specialization.
4. Not having a mentor: ‘My friends do not have a mentor. Why do I need one?’ It’s a myth that you need a mentor from the mid-career level. Some students are under the misconception that their bosses will be their mentors. They believe their organization will allot them a mentor as per the mentor-mentee initiative.
Don’t wait for your organization to provide you with a mentor. Don’t experiment with the precious years of your corporate career. Few mistakes can cost you dearly.
Having a mentor right from the early MBA days will help you chart a career path. You can prepare yourself for the opportunities coming your way because”
‘Success is when preparation meets an opportunity.’
Almost every successful person has a mentor. From Jim Rohn, Bill Gates, and Richard Branson to Mark Zuckerberg, all have mentors. Mentoring is an age-old concept similar to the guru-shishya parampara in our culture. Rather than taking chances on your own and losing out on opportunities doing trial and error, seek the guidance of a mentor. The earlier you surrender to a mentor, the faster you will grow.
5. Not participating in Extra-curricular activities: In school and college, we get several opportunities to participate in extra-curricular activities. Some of us see it as fun, whereas others feel it wastes time.
“I can do some studies or utilize my time better than participating in those activities.”
Do you think the same way? If yes, then I am sorry, you are wrong.
Participating in extra-curricular activities is not a waste of time but a step toward your personality development. Such activities give you a lot more practical experience than joining any personality development classes or merely reading a self-help book.
While participating in such activities allows you to meet people from different colleges and backgrounds. You get exposed to the outside world beyond your class or your institute. Meeting people from various institutes will give you an idea about where you stand vis-a-vis others. Just being in your shell or the protected environment of your institute is fooling yourself. Because when you compete for a job, you compete against all the other MBA students outside your institute, not just your fellow students.
Participating in such activities, clubs, and committees helps you learn various qualities like teamwork, leadership, adaptability, interpersonal skills, negotiation, planning, and organizing. It’s a practical ground for your net practice before the last match. It’s a simulation of working with others before entering the corporate world.
Ensure you participate in extra-curricular activities like college fests, inter-college competitions, research papers, and seminars. A mention of all these in your resume gives you an extra edge. The interviewer will get an idea of your personality. The Certificate of Participation or Merit will be a feather in your cap. They give you an edge over other students. Make the most of these opportunities. Volunteer, participate and be part of the organizing committees. You will appreciate the transformation it brings. As a result, you will also have loads of fun.
I hope you didn’t make these mistakes yet.
How do you plan to make the most of your MBA journey?
If you would like to learn more about the corporate world and what it expects from MBA students, join me LIVE in my next webinar. Click on the link below to register:
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