The need for academic degrees for success in business came under re-examination this week with the release of a new survey that showed they have much less relevance than many would think, Ynet reported.
Conducted by the Panels research institute, the study found that 34% of managers in Israel have no academic degree.
A business administration degree in particular was not rated highly for its usefulness.
Only 5.8% say their management degree has helped in their work, and about one-third of those with a management degree believe it has helped them solve real managerial challenges to a significant extent.
Some 65.2% of the respondents say the tools they received during their studies helped them to a medium or minor extent, or didn’t help them at all.
“The colleges are directed at practical studies,” explains Ruth Biderman, CEO of the PROSO portal, which was behind the study. “But when an executive deals with a managerial issue at the decisive moment, the study shows us that 85.1% turn to intuition, trial and error. Why? Apart from the investment of time and money in studying a degree, wouldn’t it have been natural to search for the answers in the studies material?
“The degrees fail to teach executives the managerial nuances in the real world,” she said. “They teach them how to control and supervise, but don’t prepare them for dealing with emotionally charged conversations, criticism, feedback, parting with an employee, etc.”