Well, first of all, what's hard for one person can be easy for the next. Plus, people have a lot of misconceptions about many business related fields.
Take marketing, for example. It is often misinterpreted as purely "promotion" when really it also encompasses product development, pricing and placement. For me, product development and placement come naturally while I find branding to be tremendously difficult, certainly more difficult than any technical challenge I've ever faced. What one person finds "easy" or "hard" is dependent on a lot of factors, including personality type, skills, what sector that person is operating in, etc. For one product or service, pricing may be extremely simple while in another it might require significant market analysis.
Also, whether a person finds something "hard" or not doesn't directly relate to its value. I wouldn't find it "hard" to spend hours reading case studies, but they are tremendously valuable since you can learn from other companies' successes and failures and apply them to your own company. On the other hand, someone might find advanced corporate finance "hard," but unless he or she wants to work in a job in which it would apply, it's largely useless for that person.
FWIW, I'm not in an MBA program, but I do the web business thing while my wife is in a top-tier MBA program and is an exec in the financial industry. She has an analytical background but prefers strategy and operations. I know one of the things she finds both challenging and valuable is being exposed to fields that are outside of her interests but are important for having a well-rounded view of how businesses and marketplaces function. In bad business conditions this is especially valuable since you can't just stumble and guess your way around like you can when money flows easily.
>>> Take marketing, for example. It is often misinterpreted as purely "promotion" when really it also encompasses product development, pricing and placement.
I up-vote on this alone! I actually have an essay about this that I plan on posting one day. Marketing is one of the most misunderstood aspects of business from those not involved in it. I'd guess that 9 out of 10 people think marketing is advertising and promotion.
In reality, as you said, developing a product is marketing. Understanding markets, segments, what the segments value and how to create a competitive product within those boundaries is extremely difficult and really is The the core of what a business is. The marketing strategy lies well beyond promotions and really encompasses the life of the business.
"first of all, what's hard for one person can be easy for the next. "
no doubt but the question was explicitly what part of the coursework was hard, not the actual practice of business, which we all acknowledge is very hard.
"Also, whether a person finds something "hard" or not doesn't directly relate to its value. I wouldn't find it "hard" to spend hours reading case studies, but they are tremendously valuable since you can learn from other companies' successes and failures and apply them to your own company."
I didn't claim any of that. The question was solely about a statement in the original post and asking for examples in order to understand the point made, because in my experience MBA coursework is an order of magnitude easier than a masters in say Physics. My experience is not necessarily universal of course.
I don't believe an MBA is useless, but I am not so sure what quantum of value it does have. Hence the question.
what part of the coursework was hard, not the actual practice of business
An MBA is practicing business, at least at the top tier schools (possibly at the others, I don't know). Most of the focus is on case studies and group projects tackling real business issues, usually from real businesses, sometimes simulating what you would do and sometimes actually dealing with the actual company. Group projects in part time programs are frequently based on things actually occurring at a business one of the group members works at or runs, while in full time programs students will work with companies on existing issues. Traditional coursework is more commonly found in the the strictly analytical finance and economics classes.
This is the first time I've ever heard an mba as practice (vs a study of theory) in running a business. Great insight (if true).
"Most of the focus is on case studies"
A case study is not quite practice, more like a review I'd think. If this concept is adopted , analysing Napoleon's campaigns would be "practicing war" , reading about Bruce Lee's fighting style(and even debating about it) would be "practicing KUng Fu" and an analysis of Beethoven's Fifth Symphony would be "practicing music".
" and group projects tackling real business issues,"
This is more like it. What percentage of an MBA do you think would involve running (parts of) a real business? 25 %, 50 %?
"This past quarter, for instance, her group in one class did all the business planning for a group member's business that he is now creating."
Well, this will become a "real business" when it is actually running? I mean, till it runs this planning is as good as anyone else's?
"In other cases, they've done restructuring plans that are then implemented by the company. "
This is more in line with "practicing business". Thanks for the input. Thought provoking.
This is the first time I've ever heard an mba as practice (vs a study of theory)
Considering that this is the basic model of MBA programs, not to mention that it's also the basic model of pretty much any professional graduate program in pretty much any field, I'm left wondering how this is the first time you've encountered it.
A case study is not quite practice, more like a review I'd think.
When you are reading, but not a project. Even if it's a project to make a decision based on historical conditions, students are doing exactly what they'd be doing if they were running the company or division, and in most cases they are or will be running those or similar companies and divisions making the same kinds of decisions in the same ways, which is the whole point.
This is more like it
During the course of working on the project it's really exactly the same as the above.
Well, this will become a "real business" when it is actually running? I mean, till it runs this planning is as good as anyone else's? ... This is more in line with "practicing business"
It's really no different. Look, her school is a top-tier business school and the business we are talking about aren't social web startups. When you are dealing with industries that require a large capital investment, it's often much harder to start and the consequences much worse when you fail. I've had to take more than 6 figures of investment for a web company and I've never needed to give up more than equity and sometimes some strategic guidance, whereas in other industries I might expect to be signing a personal guarantee, possibly even having an investor become an integral part of operations. So when we are talking about planning a business, we aren't talking about a web company with a one page business plan.
Take marketing, for example. It is often misinterpreted as purely "promotion" when really it also encompasses product development, pricing and placement. For me, product development and placement come naturally while I find branding to be tremendously difficult, certainly more difficult than any technical challenge I've ever faced. What one person finds "easy" or "hard" is dependent on a lot of factors, including personality type, skills, what sector that person is operating in, etc. For one product or service, pricing may be extremely simple while in another it might require significant market analysis.
Also, whether a person finds something "hard" or not doesn't directly relate to its value. I wouldn't find it "hard" to spend hours reading case studies, but they are tremendously valuable since you can learn from other companies' successes and failures and apply them to your own company. On the other hand, someone might find advanced corporate finance "hard," but unless he or she wants to work in a job in which it would apply, it's largely useless for that person.
FWIW, I'm not in an MBA program, but I do the web business thing while my wife is in a top-tier MBA program and is an exec in the financial industry. She has an analytical background but prefers strategy and operations. I know one of the things she finds both challenging and valuable is being exposed to fields that are outside of her interests but are important for having a well-rounded view of how businesses and marketplaces function. In bad business conditions this is especially valuable since you can't just stumble and guess your way around like you can when money flows easily.