Between the global adoption of AI, shifting international relations and rapid advancements in tech and communication, there’s no denying that business has changed and the playing field is far from predictable.
A Master of Business Administration (MBA) is still regarded as one of the best ways to increase earning potential and top-tier job prospects, not just for its technical acumen but also for cultivating increasingly valuable ‘soft skills’.
As industries transform alongside consumer needs and expectations, the skills required to stay competitive are no longer limited to practical expertise alone. According to a LinkedIn Global Trends survey, nine out of 10 global executives believe that soft skills are more important than ever.
What are soft skills? Essentially, soft skills are the interpersonal skills and characteristics that complement technical or ‘hard’ skills. Common soft skills examples include networking, analysis and problem-solving, adaptability, time management, and communication skills – which the same LinkedIn survey showed was the number one most in-demand skill for 2024.
So how can future change-makers develop both the soft skills and technical expertise required to thrive in an unprecedented playing field?
Below, we explore why soft skills matter for MBA graduates. We also list seven soft skills students can develop with an online MBA – from communication to a global perspective and the differentiating abilities in between.
Why do soft skills matter for MBA graduates?
Soft skills, sometimes called ‘people skills’, are a differentiating factor when it comes to career advancement and leadership roles. The ability to communicate effectively, navigate difficult situations with ease and demonstrate high emotional intelligence will not only help you optimise your team’s performance and outcomes but also connect you with key decision-makers in the corporate sphere.
Global employment platform, Indeed.com says soft skills are important to hiring managers for a number of reasons, including increased longevity, improved teamwork and relationships, facilitating growth, improving organisation, increasing initiative, and developing leadership skills.
According to the World Economic Forum, the workforce is evolving due to the rise of generative AI, with employers valuing soft skills more. Analytical thinking, resilience, flexibility, agility, motivation, self-awareness, empathy, active listening, leadership and social influence are among the most in-demand and rising skills for workers.
Data from the International Market Analysis Research and Consulting Group found the global soft skills training market is projected to reach US$83.5 billion by 2032.
While these skills can be innate for some, in many cases – especially in professional settings – soft skills need to be honed and developed. The good news is that they can be.
What soft skills can I develop with an online MBA?
We know soft skills are a key differentiator for ambitious career climbers, entrepreneurs, business owners, career changers and future business leaders – but how can you develop them?
An online MBA provides a number of avenues to hone soft skills for the professional landscape, both directly and indirectly. From networking across nations to mastering the art of virtual communication and flexible learning, here are seven soft skills you can develop with an online MBA.
Communication
Communication skills are critical for effective leadership and collaboration.
Given their virtual delivery, online MBAs can attract students from a range of time zones, cultures, professional backgrounds and learning styles. By interacting with their peers and academics, students can improve their ability to communicate clearly and concisely with people from varied backgrounds.
Written communication is also paramount in a virtual classroom. To do so effectively, students need to cultivate the ability to articulate thoughts and ideas professionally and compellingly in emails, discussion boards, public forums, and assignments.
This skill set is invaluable in the business world, where precise and persuasive communication can not only save precious time but also make or break deals and critical relationships. It also helps prepare students for the increasingly virtual world of business, where relationships are built online.
Teamwork
In the world of remote and hybrid working, leaders must learn how to design virtual team workflows that encourage collaboration and engagement among team members. Eighty-three per cent of employees now use technology for collaboration, with tools like social media and peer collaboration apps gaining popularity in the workplace. Additionally, research suggests that highly connected teams show a 21 per cent increase in profitability.
Online MBA programs offer an opportunity to build the virtual collaboration skills that are so vital to the modern workplace. The collaborative projects in an online MBA program also mimic the real-world work environment, preparing graduates to navigate the complexities of both leading and participating in dispersed teams regardless of physical distance.
Analysis and problem-solving
Analysis and problem-solving skills involve the pivotal ability to evaluate information critically, identify underlying issues and develop effective solutions. They’re also core components of the MBA curriculum. Through case studies and real-world projects, students learn to approach business problems methodically, analyse data critically and devise innovative solutions.
Completing an MBA online provides the additional advantage of diverse perspectives from international peers. This enhances the problem-solving process by inviting students to consider multiple angles from a global viewpoint.
The flexibility of the online degree helps students hone their self-reliance as problem solvers, helping them build both the confidence and practical skills to tackle challenges independently. Graduates gain skills to analyse an organisation’s environment, draw insights to inform strategic decision-making, and effectively lead diverse teams and stakeholders.
Networking
Networking is one of the most valuable outcomes of an MBA. Even though they are virtual, online MBAs can also be highly effective in broadening your professional network.
In an online MBA, students can build relationships with their peers through virtual and in-person events, discussion forums and collaborative projects.
Melbourne Business School offers innovative social platforms that facilitate a vibrant learning environment through syndicate groups and other activities. Students with Melbourne Business School will also have access to academics with global experience, further enhancing their global perspective and potential to network across borders.
In an era where virtual meetings and remote collaboration are increasingly the norm, digital networking – which enables you to build and maintain professional relationships online – is a skill worth cultivating in and of itself.
Time management
Effective time management is one of the most valuable skills in your personal and professional life. It helps leaders set realistic goals and deadlines, allocate resources efficiently and maintain focus on project objectives.
Balancing the completion of a prestigious postgraduate degree with personal and professional commitments is a masterclass in time management. For online students in particular, the ability to be self-disciplined and organised is integral and transferable to any workplace or entrepreneurial setting.
The flexibility of an online MBA requires students to set and stick to their schedules and meet deadlines without the structure of a traditional classroom. This self-directed approach helps students hone a strong sense of accountability, a skill set that can be carried onto future endeavours.
Global perspective
Understanding global markets and practices is vital for success in today’s interconnected economy. Part of what you learn in an MBA is how to develop your unique leadership style in diverse environments.
An excellent online MBA program will help students gain cutting-edge insights into international markets, cultural dynamics, sustainability and global business trends, preparing them for cross-border collaboration and leading in a globalised economy.
Exposure to diverse viewpoints and business practices helps cultivate cultural competence, which is essential for leaders in multinational organisations or businesses that wish to expand or transact internationally.
Self-motivation
Self-motivation is a pivotal skill that significantly impacts employee satisfaction, productivity and organisational success. MBA graduates must develop and maintain this skill to thrive in an increasingly dynamic and competitive business environment.
Online learning requires a high degree of self-motivation because it is highly flexible and can be structured around work and life activities. Students need self-discipline to maintain their schedule and ensure they reach their study goals.
As a Melbourne Business School Online MBA student, you will learn from globally recognised academics and study alongside like-minded peers. With our premier online learning experience, you can benefit from flexible study options and foster an independent approach to learning and professional development – skills that will benefit you throughout your career.
By studying the Melbourne Business School Online MBA, you will also have the benefit of a personal Student Success Adviser to help you create study plans and stay on track with your learning.
Learn from experts with Australia’s premier business school
Melbourne Business School provides the transformative top-tier learning experience that tomorrow’s world of business demands, providing you with the latest insights from an expert faculty of world-leading experts and future game-changers from across the globe.
Whether you’re looking to fast-track your career progression, pivot industries or pioneer your own path as an entrepreneur, our 100% Online MBA will equip you with the practical expertise and the soft skills you need to excel in an ever-changing business world.
Get the Melbourne Business School Online experience and transform your career. Learn more about our 100% Online MBA today.
