The aim of the Business Administration program at MEF University is to graduate managers and entrepreneurs with qualities and competencies needed to achieve sustainable economic growth in Turkey and beyond in the 21st century.
Business studies can be thought of as a three-dimensional space: functional area, sector, and corporate age.
- The fundamental functional areas of business are finance, marketing, operations (production and distribution) and management. A business graduate should be aware of the basic principles of all of the functional fields and should gain specialization in at least one of the functional fields.
- Manufacturing, telecommunications, financial services, tourism, health care, retail, logistics, energy, and construction can be considered to be the most prominent sectors in the Turkish economy. A business graduate should be aware of the opportunities and threats in all of these sectors, and should gain specialization in his/her sector of interest.
- A company’s lifespan can roughly be divided into four stages: establishment, rapid growth, sustainable maturity and/or merger-acquisition, decline or closure. The problems and obstacles of each stage are different. A business graduate should know the basic characteristics of each of the four stages, and should gain specialization in the practical implementation of at least one stage.
Our aim is to graduate students who do not limit themselves into one point in this multi-dimensional space, but are aware of all the dimensions of the business world and are specialized in the sub-space of their choice in accordance to their strengths and goals. Our program contains a large number of elective courses so as to allow the student to shape their own study program and to make it possible to select a second foreign language or a minor alongside their field of specialization. Although they will major in different areas, the common attribute of MEF Business graduates is to have the following 21st century skills:
- Knowledge of English at the level required by the global market place
- Mastery of information and communication technologies
- Ability for independent study and lifelong learning
- Teamwork and communication competencies
In addition to these, an internship is mandatory in our business program, as we strongly believe that a business graduate geared for success should have at least some real-world experience.
Career prospects for business graduates are abundant. Any human organization you may think of needs a manager. What first comes to mind (and what is aspired by the majority of business graduates) is to be employed by large multinational corporations. However, business graduates can create value in all sectors and companies of all sizes. For example, in recent years, banks and telecommunication companies have hired large number of business graduates alongside multinational corporations.
It is a common misconception that business graduates only work in large and well-established companies. SMEs and family companies are the largest contributors to the Turkish economy, and while striving to increase productivity and move into new markets, they are working on the establishment of professional management structure. Perhaps that is where business graduates might be able to contribute the most (and to advance in their careers the fastest).
Another place where a business graduate could contribute most significantly is a newly established company. The only way to ensure the sustainability of economic growth and the creation of new employment is entrepreneurship. Alongside engineers who understand and utilize the new technologies to create added value, we need business graduates who know how to turn a new idea into a business venture.
It is evident that business graduates are increasingly playing a larger role in the emerging sectors important to our economy, such as logistics, energy, tourism, health care, and education, in addition to the well-known areas of banking, telecommunications and retail. With the present growth of organizations less popular fields such as media, arts, style, sports, and social development, it is fair to expect that the demand for business graduates will increase in these fields as well.
While providing examples from the private sector, the potential of business graduates in the public sector and NGOs should not be ignored. In every human organization, there is a need for well-educated managers.
If we need to predict, after five to seven years from graduation, 40% of the MEF business graduates are likely to work in large corporations, 30% in SMEs, 15% in start-ups, 5% in public sector, 5% in NGOs, and 5% in the academia.