Mathematics is a subject that is often perceived as daunting and complicated. Consequently lots of people try to avoid it, thinking that it doesn’t pertain to their chosen field.
But can you avoid it if you want to do a Master of Business Administration (MBA) degree?
In this article:
- Is maths necessary for an MBA?
- How maths is used in an MBA programme
- The bottom line
Is maths necessary for an MBA?
The answer to this question is more than a simple yes or no. Depending on the specific MBA programme and career path you wish to follow, it may be possible to get away without having to do maths.
However, most MBA programmes are highly competitive, and having a solid foundation in maths gives candidates an edge. Furthermore, many MBA programmes require students to take a maths aptitude test as part of the admission process. A strong score on this test is likely to improve your chances of being accepted into a top-tier MBA programme.
The core curriculum of an MBA programme
The master of business administration curriculum covers accounting, finance, economics, marketing, operations, and strategy. All of these subjects, at MBA level, involve calculations. You will have to analyse financial statements, create budget plans, forecast sales, understand supply chain management and more, so having a basic grasp of algebra, statistics, and calculus, as well as the kind of logic employed when using each, will help you understand these topics better and perform well in exams.
Moreover, many MBA programmes offer specialised courses in business analytics, data science, and finance. These courses require a higher level of mathematical aptitude, involving complex calculations and data analysis.
A course in business analytics might, for instance, require using statistical models to predict consumer behaviour or market trends. Similarly, a finance course might include risk management calculations or portfolio optimisation strategy, which require financial modelling. In such cases, students with a strong maths background will clearly have an advantage over those who don’t.
How maths is used an MBA programme
Maths helps develop problem-solving skills, so it should not be surprising that the ability to work with numbers is vital to making sound financial decisions. And in an MBA programme, a basic understanding of mathematical concepts will help you stay on top of your coursework.
Algebra, calculus and statistics are the critical mathematical tools used in MBA programmes. Algebra is used to solve equations and create models. Calculus is used to understand the relationships between variables and predict outcomes. Statistical analysis is used to decode and find trends and patterns in data. Together, they are used to interpret data, create financial models, make predictions, and make informed decisions.
The bottom line
MBA graduates often work in high-pressure environments where they must make quick decisions that can have significant implications. A strong foundation in maths can provide a framework for approaching complex problems and making sound, evidence-based decisions.
So while maths may not be the only factor determining success in an MBA degree or business, it is undoubtedly crucial. But just because it’s a weak point for you now doesn’t mean you should abandon your dreams.
Many MBA programmes offer preparatory courses or workshops to help students brush up their maths skills before starting their studies. You’ll also find plenty of online resources and tutorials to help you improve your maths skills.
Ready to upskill yourself with a Regenesys MBA programme? Enrol today via Regenesys Business School, Nigeria, and start honing the leadership and management skills you need to manage an organisation or to start your own business.
Content Writer | Regenesys Business School
Before joining Regenesys Business School,
Ms Shekhar notched up a decade in ed-tech companies, writing biology-focused material. Content writing allows her to indulge her parallel interest in writing blogs, as well as for social media and education websites.
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Sushma Shekhar
MSc, BSc Content Writer | Regenesys Business School Before joining Regenesys Business School, Ms Shekhar notched up a decade in ed-tech companies, writing biology-focused material. Content writing allows her to indulge her parallel interest in writing blogs, as well as for social media and education websites.
