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MBA - An Overview
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The Master of Business Administration (MBA) is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The MBA degree has since achieved worldwide recognition. Accreditation bodies exist specifically for MBA programs to ensure consistency and quality of graduate business education, and business schools in many countries offer MBA programs tailored to full-time, part-time, executive, and distance learning students, with specialized concentrations.
Students entering business school to earn their MBA degree will need varied skills and have basic proficiency in certain areas. The level of math skills necessary in business school will vary depending on the program. Many Master of Business Administration programs require statistics, algebra, and most likely, calculus. You may want to refresh your skills if they are in question before entering an MBA program. Most business schools require the use of personal computers throughout your MBA program. Many schools will require that you have your own laptop. Though the extent to which you use a computer will vary, you should be comfortable with word processing, spreadsheets and databases. Each school will give you their minimum basic requirements for computer skills and hardware/software needs.
Schools today attempt to mimic the business environment in their academic programs by using student teams. As corporations have increasingly turned to teams to work on projects and to solve problems, MBA programs have transformed a larger portion of course work from individual work to teamwork. Many master of business administration programs now include teambuilding training as team building workshops, or as a subject in organizational behavior courses. Teams may be formed for the purpose of one project in one course or they may remain together for months, working on multiple courses. In the competitive setting of MBA programs, the cooperation of students in teambuilding exercises is often difficult. Students that participate in team activities find that working with others takes up a lot of academic time.
The fundamentals of business are taught in every MBA program. Economics, finance, accounting, organizational behavior, marketing, and statistics are in the basic repertoire for master of business administration programs. In business school these subjects are considered a core group of courses required of every student. These core courses make up the first year of study in a two-year full-time program. In some programs, students who have a prior background in business can bypass some or all of the core courses on the basis of either a special examination or an evaluation of the undergraduate transcript.
Basic types of MBA programs
Two year MBA programs normally take place over two academic years (i.e. approximately 18 months of term time), in the Northern Hemisphere beginning in late August/September of year one and continuing until May of year two, with a three to four month summer break in between years one and two. Students enter with a reasonable amount of prior real-world work experience and take classes during weekdays like other university students.
Accelerated MBA programs are a variation of the two year programs. They involve a higher course load and less "down time" during the program and between semesters, for example, with one rather than three to four weeks vacation between semesters.
Part-time MBA programs normally hold classes on weekday evenings, after normal working hours. Part-time programs normally last three years or more. The students in these programs typically consist of working professionals, who take a light course load for a longer period of time until the graduation requirements are met.
Executive MBA (EMBA) programs developed to meet the educational needs of managers and executives, allowing students to earn an MBA or another business-related graduate degree in two years or less while working full time. Participants come from every type and size of organization – profit, nonprofit, government — representing a variety of industries. EMBA students typically have a higher level of work experience, often 10 years or more, compared to other MBA students. In response to the increasing number of EMBA programs offered, The Executive MBA Council was formed in 1981 to advance executive education.
Distance learning MBA programs hold classes off-campus. These programs can be offered in a number of different formats: correspondence courses by postal mail or email, non-interactive broadcast video, pre-recorded video, live teleconference or videoconference, offline or online computer courses. Many respectable schools offer these programs; however, so do many diploma mills. Potential students should check the school's accreditation before undertaking distance learning coursework.
Dual MBA programs combine MBA degree with others (such as an MS etc) to let students cut costs (dual programs usually cost less than pursuing 2 degrees separately), save time on education and to tailor the business education courses to their needs
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