Why Is Business Modeling Course Important for the Mba Curriculum?

Why is Business Modeling Course important for the MBA curriculum?

Introduction

This paper explains some of the reasons Business Modeling class is included in the Master of Business Administration curriculum. In addition, it describes how the class will be applied and how it would benefit my healthcare career after I graduate.

Reasons that a Business Modeling Course is Included in the MBA Curriculum

Business Modeling allows businesses to try-out different models, strategies, activities, collaborations and processes a business can use to succeed in a very practical yet frugal way. Using these models, the company can understand its processes better and can try out different ways of doing business by taking advantage of today’s technology. Business modelings are designs on computer software which allow people from different departments to try out different alternatives before implementing them in real-life. It allows every department, not only the highly technical engineers, to play with the different options before investing money in building and making the plans a reality. These not only save money to the company, but also time because they only build, invest money and time in those designs which are tested and shown to be productive and profitable to the business. In today’s business economy where everything changes constantly and at a very high speed due to the internet access and instant communications, companies cannot afford to waste time fixing mistakes; they have to be sure every detail is been accounted for, even before starting the manufacturing process (Dorn, Grün, Werthner, & Zapletal, 2009).

Every aspect of the business may be tested using the business models. For example, the financial impact the new business would have in the company’s balance sheet and profit and loss reports, the steps needed to manufacture the new product, study of the risks involved in the project to be sure risk is balanced by the expected profit and also, to predict the...