What Exactly is an MBA Degree?

An MBA (Master of Business Administration) is a graduate degree obtained at a university or college that offers both theoretical and practical training to provide graduates general knowledge about general business management functions. The MBS degree may have a specific focus as: accounting, marketing or finance.

An MBA degree represents a level upward from an undergraduate business course and its achievement places the graduate far above other candidates owning just an undergraduate degree.MBA programs has become to be offered by most universities and colleges during the past two of years. For instance, only in the UK, 116 business schools are currently offering MBA courses and the number of students graduating this form of education has risen from 4,000 in 1990 to over 10,000 in 2000.

In order to be accepted in an MBA program, an applicant must take the Graduate Management Admission Test (GMAT) – for the US education system. The GMAT is a standardized test that aims at determining the aptitude of a candidate for an activity in business management studies. It is presently made up of an essay section containing two free-response essays of 10 minutes each; two multiple choice sections, one mathematical section and one verbal skills section.

Apart from the GMAT test, other admission criteria focus on significant work experience, academic transcripts, references and personal interviews. Extra-curricular and community service activities represent an interest for the admission boards.

The MBA degree courses offer students knowledge on economics, organizational behavior, marketing, international business, finance, government policy, accounting and information technology management.

The traditional MBA degree offers students a broad range of general courses in the first year of studies, followed by a specialization in the second year.

Specialization in particular areas as: technology management, accounting, strategy or specialized business, marketing and finance is being offered by many MBA degrees.

There are several ways of attending MBA courses.Nowadays MBA degrees can be accessed through online, distance learning or e-learning as the program offered by the Open University Business School. Due to the large variety of MBA degrees offered worldwide, the elite business schools are being accredited by independent bodies as the Association of MBAs. This association acts as a global network for the MBA community: MBA students, MBA graduates, schools, businesses and employers.

Consequently, the MBA degree represents a leading management qualification that creates highly competent professional managers.

Know About the Best 5 Universities to Do Your Online MBA

MBA degree is a coveted degree among many to increase not only the earning potential but also the career options. Often, students wait for two more years to complete their MBA degrees, even after they land a job after graduation because, the experience, skill and the networks made during earning this degree, help them in future. This can take them out even in tough market situations. The practical business expertise that they will gain will help them in securing topmost positions in their organizations. An MBA degree is known to provide a practical experience in the foundational business practices. It is a comprehensive coverage of accounting, management and finance primarily and also business communications, operations management, quantitative analysis and marketing strategy. Thus, we understand the importance of these degrees. But, often due to certain reasons or the other, attending a regular college for earning the degree is often not possible. Then people prefer to go for online MBA courses. These courses are ideal for those people who may be already working in an organization for a long period of time. He or shay may now want to acquire the required theoretical knowledge or apply for some managerial positions. For them also, online MBA courses are very helpful.

Online MBA programs, often include group projects and case studies. These allow, students from various backgrounds to collaborate with each other and share ideas. This is very much important for people to form a mutually beneficial network. The students also get a chance to hone their soft skills like communication and analytical skills along with leadership skills which they can apply to the global world of business. They get to know about various other diverse fields like marketing, supply chain management, entrepreneurship etc.

The online MBA courses help the already working professionals to take on new responsibilities, get into management roles or pursue any entrepreneurial course of action, if they want.

Online MBA Courses-Things You Have To Know

The MBA degree, as already discussed, is a very much sought after degree. It is seen as a ticket to corporate success. As the time has passed by, the MBA course has witnessed a lot of variations like, one can do it with a lot of specializations at the same time. Then there is the emergence of online MBA programs, which allow not only flexibility but also continuity in education. These programs are also known as distance learning programs, and gives the opportunity to students to opt for an MBA course, who might have otherwise found it a difficulty.

Online MBA Courses have become very popular in the last few years. There are many accredited online MBA courses nowadays that are accepted not only by the employers but are sometimes also offered by the reputed B-schools. The only thing that has to be kept in mind is that one has to check whether the online courses are accredited. Some of the online programs are eligible for financial scholarships and student loans as well.

Advantages

The online MBA courses have two main advantages. The first is the flexibility to work within the schedule. This is a great help to those students who are already working or for mothers who have to take care of a baby, back at home. Sometimes, financially also, these courses are more feasible, as online courses are priced at a lower cost than the normal MBA programs. The online courses usually take 2 years to be completed but sometimes depending upon the time taken by the students, they might get extended.

Top 5 international Universities Offering Online MBA

There are many universities which offer online MBA. The best degree programs are selected based on certain parameters like the quality of program, types of courses which are provided, awards received, faculty strength, reputation in general and reputation for online programs.

  1. University of Florida-Warrington College of Business

This university offers, graduate, undergraduate and various professional courses in a diverse range of business studies. It has courses, catering to the busy professionals. Practical and theoretical concepts on legal and ethical issues, communication, organizational, management, accounting and marketing are stressed on in this course.

  1. University of Virginia-Darden School of Business

This institution is known to offer great programs in business education. The programs can be continued without disturbing the current careers. This MBA program requires 60 credit hours and includes courses like business ethics, accounting for managers, financial management and policies, decision analysis, operations management, strategic thinking and action etc.

  1. University of Minnesota, Twin Cities-Carlson School of Management

The Carlson School of Management has a lot of business related programs, through online program options. This curriculum again focuses on key subjects like communication, data analysis, marketing and operations, management etc.

  1. University of North Carolina at Chapel Hill-Kenan-Flagler Business School

This business school offers a great variety of business programs catering to all kinds of professional development. Busy professionals who want to advance their business careers may select any one from Corporate Finance, Data Analytics, Entrepreneurship, Global Supply Chain management, Investment Management etc. This program may be completed in 18-36 months.

  1. University of Illinois at Urbana Champaign-Gies College of Business

Known for offering a comprehensive curriculum, this program covers finance, investments, team leadership, leadership models, communication and marketing. The program is known to improve the knowledge and skills necessary for achieving success in various roles like chief executive, management consultant, personnel manager etc. This program requires 72 credit hours to be completed.

Source by Stratford Universty