Australian business schools are designing MBA programs as a bridge to the future, training entrepreneurial and global-minded managers. Jorge Lopez Palma, Education Manager, Lima, Australian Trade and Investment Commission (Austrade); let us know the opportunities that currently exist in Australia for young Peruvian and Latin American Professionals, this country has started to turn its eyes towards Latin America in an inclusive manner.
Australia and Peru share various similarities, as an example, both countries have a tropical desert area, a coastline shared with the Humboldt Current, these countries have the same type of industries such as mining, oil, gas, fishing and agricultural services. So, there are many characteristics that bring Australia much closer to Peru, which is a good thing in the field of education and since that’s why Peruvian undergraduate and master’s students will find that many of the case studies provided in Australian universities are very similar to business situations in Peru. There is even one more advantage on the side of Australia, which is related to the fact that everything is made looking toward the future. Then, Government, private sector and academia are envisaging the future scenario in Australia and are training people for the industry of the future, for those jobs that do not yet exist, as it does not make sense to train people for something that will vanish in the next following years.
Furthermore, Australia is a country seeking to achieve work-family balancing. The private life of every person is respected, so after working time workers go to the gym, to a park to jog, they can also meet family and no one can invade this privacy.
Geographically speaking, Australia is very close to Asia, this being its natural market, in this respect Jorge Palma says: “It is noticeable that Australia hosts many people coming from Asia and other parts of the world resulting in a huge cultural diversity, which is why Australians are used to welcome and live together with foreigners, who are treated very well, so when Latin American visitors land in Australia they will definitely have a pleasant experience since residents are aware that some foreigners don’t speak English well and endeavor to understand and communicate,” he states.
Education in Australia
Education can be classified into two broad categories in Australia: Public and private, with the only difference that everyone pays for education, regardless of the type institution chosen. As for public education, the student has access to a tax credit that begins to be paid when he or she finishes school and is now working. The education that university students receive is of the highest quality, as the government, academia, and private sector intervene in this process, , everyone learns courses that the industries will apply in the future and that their future employers will need. “All realted to ICT (Information Communication and Technology) is very advanced, this is because Australia has invested a lot in applied research, which is why many inventions made in Australia are used today, the most widely used is the WiFi, the same one we use in different electronic devices to connect via the Internet, as well as the famous black box of airplanes, the cervical cancer vaccine, the bionic ear or eye, as well as a number of elements for mining or agriculture. This is just a sample of so many things we use on a daily basis around the world that are Australian inventions,” said the representative of Austrade.
Australian Business Schools
“The main attraction of Australian business schools and MBA programs is that they are highly focused on industry, so an MBA that teaches management, finance, marketing and other management courses is also focused on a particular industry. The second distinctive feature is that the MBA is characterized by ideas and concepts in the context of globalization given that an MBA must be open to the world There is also cultural diversity in the classrooms, and professionals from other parts of the world. In the MBA, one learns analytical and problem-solving skills for the future. In fact, Australian business schools are now seeing how in this transition from today’s world into the future, there are going to be many challenges to solve, so we must develop the skills to solve them, to attune to the new way of evolving in the world,” says Jorge Lopez.
The fundamental characteristic of the Australian MBA is basically entrepreneurial, seeking to identify the businesses of the future, what will be the future demands that will become opportunities and how to respond to that demand. It is not limited to a simple transmission of theoretical knowledge but seeks above all to awaken in each student the interest in a profound analysis of the present going forward to direct with an entrepreneurial attitude those businesses that do not exist today, but that will be considered valuable in the future. In addition, Australia’s proximity to Asian countries forces business schools to propose business cases in class on how to conduct business with the Asiatic economies.
On the other hand, it should be noted that the professors of Australian business schools come from the business world, and they also have an academic component in their training, which is fundamental in their status as professors. Jorge López tells us about this: “In the same way, the professionals responsible for education, whether at university or postgraduate level, have the obligation to stay updated , which is done in two aspects, one is in the theoretical part, which means that they have to return to the classroom and become students again, and the other component is a practical one, they have to demonstrate to their universities or business schools that they have been actualized in real life, otherwise they cannot continue as professors. This is why the professors are highly respected, precisely because they have this academic and practical updating,” he said.
Five reasons to study an MBA in Australia
Over the last decade, Australia has grown in popularity as a country and has distinguished itself as one of the top destinations for an MBA, which is why more and more professionals are choosing to study an MBA in Australia. Here we share some of the reasons why:
- International recognition
Australia is home to some of the most prestigious and internationally recognized business programs in the world. An internationally recognized degree adds value to any career since the first thing recruiters will see is almost always the academic background of the candidate for a job.
Australian MBA programs are less expensive to programs in countries such as the United States or other parts of the world.
- Cultural diversity
Australia’s cultural diversity provides graduates with a great sense of understanding and empathy for people of diverse ethnic backgrounds. Educated managers with a global view of the world and international business acumen are highly sought after by companies.
Many Australian universities offer flexible part-time and full-time study schemes so that students can adapt to their different schedules.
- Higher earning potential
Studies have shown that studying an MBA in Australia has the potential to significantly increase your earning potential compared to other institutions in other parts of the world.
Peru and Australia have been integrating economically for some time now, especially considering the large investment Australia is making in the mining sector. “When the Australian Trade and Investment Agency started its activities, it started with nine Australian companies, and now we are already reaching 100, with a large percentage of these Australian companies in the mining sector; however, another very important sector is agriculture. So this exchange will help balance the trade balance between our countries,” said the representative of Austrade in Peru.
Another very important commercial exchange that exists between both countries is tourism. In recent years, Peru has been visited by many Australians, which has created a business opportunity to be developed. In general terms, the strength of the FTA between Peru and Australia will be in the mining, agricultural, and education sectors. In the area of education, this free trade agreement is important because it has increased the number of Peruvians studying in Australia. In the last two years we have seen a 6% growth rate of Peruvian students in Australia and with the ratification of the free trade agreement, the professional degrees obtained in Australia will be recognized by the Peruvian authority, something that is detailed in a chapter devoted to education.
“Another advantage that is not exactly in the framework of the FTA but that shows Australia’s interest in integrating into Peru is that it will offer a visa called “work and holiday”, which refers to the fact that young Peruvians who obtain the visa can travel to Australia for a period of one year in which they can live, study, work and do tourism throughout the country, and in this way return to Peru with new ideas. In the same way, this will be reciprocal, hoping that young Australians will come to Peru to study, work, live and get to know this wonderful country full of millenary history and culture. The age limit for access to this opportunity is 35 years of age, the must have a degree and a good level of English”, concludes Jorge López Palma.