An MBA, or Master of Business Administration, is a prestigious and globally respected postgraduate qualification providing an advanced education in cutting-edge business practices including accounting, finance, marketing, and management.
The MBA has become the degree choice for those who are looking to increase their professional competencies, or perhaps even start their own business venture. Studying an MBA programme online has the added benefit that you don’t have to put your career on hold, as you are able to study around your existing work/life commitments. These days, online MBA degrees provide you with an exciting and rewarding learning experience which can often be individually tailored according to your particular areas of interest.
Add to this the fact that there is no distinction between MBA graduates who studied their programme on campus and those who study online, there’s no reason not to take advantage of the opportunities that modern e-learning MBA programmes offer.
The benefits of an MBA
- Ability to pursue your degree alongside your professional commitments
- Study via a virtual learning environment that is accessible 24/7
- Gain up-to-date skills and knowledge that will set you apart from your peers
- Receive the same high standards of tuition as that of an on-campus programme
- Network and share ideas with an online community of students and professionals
Requirements for MBA
The specific entry requirements for students may vary, but a bachelor’s degree is always a minimum requirement of acceptance and applicants who have already made career progress and have some professional work experience under their belt may be viewed more favourably. Still, given the versatility, it may not matter at all what your major was in college as long as you received a broad, well-rounded education in which you developed quantitative and analytical skills.
In some cases, a students’ previous education is less important than their GMAT (Graduate Management Admission Test) scores. This standardised examination is used to measure aptitude and predict applicants’ potential for success in a management education programme.
Types of MBA
Each course is unique and will consist of important differences, so it’s important to make sure that you choose the right MBA for you.
Encompassing broad business management skills, the expertise gained from a general MBA is relevant across numerous sectors, industries, and roles. You will often need at least three years’ work experience to join it, but some institutions and programmes require even more. Students typically have a global perspective, very strong interpersonal skills, high academic potential, and exceptional commitment and motivation.
Focusing on improving students’ leadership capabilities. This type of education is ideal for those seeking rapid progression within their current company, or looking to exploit new opportunities within their industry. Students are typically a bit older, with most possessing at least ten years’ work experience. As students are often working full-time and juggling family lives, it important that these programmes fit around students’ pre-existing commitments, which is why online MBAs are so advantageous.
Becoming increasingly-popular and programmes such as these are ideal for students with managerial experience who want to progress within, or enter, a particular sector or industry. This type of qualification do not neglect general business and management skills, but focus on a particular professional aspect such as marketing, or leadership. They typically attract students who require very niche set of skills or knowledge, and feel that a general programme doesn’t meet their specific needs.
What skills does an MBA give you?
Communication and Public Speaking
The experience of studying an online MBA degree will inevitably equip you with a new and more effective vocabulary for use in conversation with colleagues and clients. You will learn new technical language and also reinforce your communication skills when it comes to liaising with people from different backgrounds. The course will also impart you with the ability to adjust your communication to suit a variety of different media and how to communicate effectively as part of a team and on a personal level.
Business Problem Solving
You will become part of a professional community and you will constantly be challenged to participate in effort to come to terms with the contemporary problems facing businesses today. You will gain a great overview of the business world as a whole, and a deep understanding of systemic changes within this environment. As an employee, your access to information will largely be restricted, but as an MBA student, you will gain a more wide-ranging insight which is a great asset to you and your employer.
Technological skills are also an integral part of modern online MBA programmes, and you can expect to acquire skills related to business software in order to improve your utilisation of technology in the work place. With technology playing a central role in almost any workplace environment, gaining these advanced technical skills will give you a distinct advantage when it comes to progressing in your career.
Taking a flexible and self-study led online helps you to perfect your effective time-management. This will prove incredibly useful when you go on to fill a senior leadership role, as you will find yourself having to prioritise, making it vital that you know how best to make use of your time.
In the modern business environment, there’s always an element of risk involved. Online MBA programmes place an emphasis on teaching you about risk analysis and management, meaning that you will graduate with the ability to assess risks and make informed decisions in order to reduce them as best you can. This is something that every successful leader is expected to do on a daily basis, so of you enjoy the challenge of having a lot of responsibility and of being in a constant learning and development cycle, then you are probably a good candidate for an MBA.