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Definition Of MBA
MBA stands for Masters in Business Administration. For those who want to enhance and enrich management skills preferring to lead their own business study this course. This is a course subjected to develop leaders who can analyze data which are required to manage a business organization. Or the internationally recognized degree which is designed to develop the skills required for a career in management and business. According to Carina Dams MBA is more integrated, more flexible, which provides practical knowledge to give greater freedom to students. This degree is not only valuable for business world but also is useful in the public sector, private industry, government and many other areas.
What Does MBA Stand For?
The administration is more complex and requires intense study. MBA provides such skills to its student to develop management skills and administrative skills. Masters in Business Administration is defined as a program which is developed in such a way that it fulfills management and executive skills, financial, accounting and human resource management skills. According to Wharton Business School, “MBA is a course which gives business and leadership skills to guide towards goals set by any business.” The greatest value that you get in your MBA course is the network which will ease you to do any work.
The true meaning of MBA is to acquire the best knowledge in the field of business administratively.In every business, proper management and administrative skills are required. To manage an office properly and to make business administration stronger you need to be qualified, you need to have adequate knowledge of management and administration. To provide such knowledge courses like MBA was introduced by the universities. Wharton School of Business is the first business school to introduce MBA course to the world.
What Does MBA Stand For According to Course and Syllabus
Although almost all syllabus content may be familiar to other graduate degrees. Management Theory and Practice, Strategic Management, Accounting and Financial Management, Marketing Management, Business Economics, Corporate Finance, Human Resource Management, Research Methodology, Leadership and Entrepreneurship, Management of Change and Management of Sustainability are the subjects that are included in this course. If you want to have specialization in this course then you have a choice for Accounting, Finance, Human Resource Management, Information Technology, and Marketing. In every specialization you need to study core subjects that gives you know more precisely. If your choice is finance then you need to study Corporate Finance, Financial Markets, and Instruments, Investment Analysis and finally, Financial Planning in your syllabus. The human resource includes Human Resource Management, Research Methodology, International Human Resource Management, Advanced Studies in Industrial Relations, Strategic Human Resource Development, Organizational Behaver, Training, and Development Environment. IT has the syllabus for Project Management, ICT Infrastructure Management, IT Management Issues, IT Risk Management. Top MBA courses are all included in this syllabus.
Qualification To Study MBA Degree
Before getting admission to quality business schools candidates must have at least few years of professional work experience. Candidate must submit GMAT ( Graduate Management Admission Test ) or GRE Graduate Record Examination score, SOP ( statement of propose) that reflect why you want to pursue an MBA. Additionally, you must academic transcripts and certificates. If you are non-native English speaking candidate then you should have to prove adequate English skills with IELTS or TOEFL score.
Nowadays, MBA becomes most popular professional degree program in the world. More than 2,500 MBA programs are offered worldwide. Most of the MBA programs are offered in the English language. MBA programs have evolved to keep up with the demands of the times but it was first introduced at American Universities around the turn of the 20th century.
Especially in United State, one-year programs have become increasingly popular but two year MBA programs are still common. Targeting student who is unable to take a full-time MBA programs or two years programs, part-time and online programs are widely available.
Why Should I do MBA?
- According to the data from The Financial Times, the salary of MBA graduates increases by at least by 90 % per annual.
- If you want greater leadership responsibilities, promotions, and higher earning then an MBA is the best way to climb your career ladder.
- In business what you know does not matter but who you know is everything. So MBA programs may allow you to make the connection and create a better relationship with professionals from the different field, different culture and different language as well.
- An MBA program will be a beneficial way to hone your professional kills during taking the opportunity to specialize in different types of field.
- Most of the MBA programs offer the opportunity to travel in abroad to practice business skills in a foreign and language and to achieve experience while working in the new country.
- MBA program may give you a new perspective to turn entrepreneurial ideas into reality.
Top MBA programs
If you really interested to join MBA, then only the classic two years MBA is not an option. Different business schools offer plenty of different MBA programs based on the level of your work experience, amount of time and cost you are able to devote to the program, geographical distance from the schools and many more. Some of the most popular MBA programs may be :
The full-time MBA program is targeted to students with minimum two years work experience and maximum seven years of the gap after the bachelor degree. For this degree, students must devote themselves completely to studying and quit their jobs. This MBA typically facilitates networking at the beginning of the first year. And the second year is often dedicated to an elective course. In this program, students must complete a summer internship between two years of studying.
This program target the students who don’t want to leave their jobs or can leave the job to pursue MBA degree. Part-time MBA is more flexible than traditional full-time MBA program and can last anywhere from two years to seven years. In this program, students have an opportunity to take courses on weekends and weeknights depending on their timetable.
The executive MBA geared towards a specific kind of professional with substantial leadership experience. For this program, you must have a minimum seven to ten years of work experience. And such MBA programs typically take 16 to 22 months to complete.
This MBA program target to those students who need flexibility in terms of timetable and geography. Online MBA typically take 3 to 4 years to complete although some programs may be completed in the shorter period of time. Most of MBA programs allow the student to complete their course on their own schedules. Many online MBA degree programs provide pre-recorded lecture and some offers real-time lecture using webcams.
The blended MBA is defined as the combination of part-time MBA and online MBA. These programs target to those students who are working professionals and don’t have resources or want to quit their jobs to study. This program includes
varieties of face to face workshops per semester.