Masters in Business Administration (MBA) is the most sought after degree for a successful career in the corporate world. Acquiring an MBA degree is the gateway to a global, dynamic business environment and being a competent professional.
Universities all over the world offer different types of MBA programs; thus allowing the students to study in accordance to their needs and priorities. Apart from the regular full-time MBA program; there are a variety of MBA degree programs which enable students from different professional and social backgrounds to pursue an MBA degree program that suits their need. Most of these MBA programs require a student to submit his GMAT score. These include different types of MBA Programs as:
MBA Online Program
- Online MBA Program is an MBA degree which you acquire through the mode of distance learning.
- As an Online MBA student, you interact with your faculty almost virtually and the academic interaction is facilitated by the use of advanced communication technology like the Internet, video conferencing and e-mail.
- An online MBA program is an ideal program for professionals who wish to progress in their careers but cannot afford to pursue a full-time MBA program or degree.
- This online MBA program provides exposure to the emerging knowledge and theories in management and enables the students to balance both their professional and academic lives
- There are many international MBA programs in this format and they are popular as they demand a lesser commitment of time than the regular program as the class work can be scheduled in a flexible manner.
- Online MBA programs is one of those types of MBA degree programs that cut across geographical barriers and provides access to faculty in distant locations
- However, on the flip side, an Online MBA program is not an ideal choice for career switchers since it offers a narrow scope for interaction with faculty and classmates.
- The benefits of scholarships and services such as career placement are usually absent in a distance/online program.
- A part-time MBA program is for professionals who attend classes in the evening after their work hours and wish to enhance their career by an MBA degree.
- A part-time MBA program usually offers specializations same as a full-time MBA program but in some cases, the number of concentrations is limited. Some part-time programs are as extensive as the full-time programs but are spread out over a longer time. A part-time program is the most effective and focused program for aspiring and ambitious professionals who wish to combine their work expertise with knowledge of contemporary management theories and practices.
- This is one of the unique types of MBA degree programs which can be funded with loan money available for eligible students and sometimes the employers also provide tuition reimbursement as an employee benefit. While considering a part-time program, one should keep in mind a few limitations of this program. Since the students are working, scholarship is not available and even the career services are quite restricted. In this format, most international MBA programs cannot be converted into a full time since the credits do not get transferred
MBA One Year Programs
- The one-year fulltime MBA program is one of those MBA degree programs which is intensely concentrated and taught over a duration of 11 to 16 months. The program has a high level of competition and provides learning beyond the classroom.
- Like a regular MBA program, this MBA one year program also offers a complete and intensive learning experience which includes career services like campus interviews, social and professional clubs, career counseling and other services
- There are no internship opportunities since there is no sufficient time break between semesters.
MBA Executive Programs
- Executive MBA degree programs (EMBA) are usually company-sponsored programs aimed at furthering the career growth of working executives. These programs groom the professionals in general management skills and aid them in their climb up the corporate ladder.
- The classes are held over weekends and the academic environment is conducive to interactive learning with students contributing their ideas and insights towards the curriculum
- EMBA (Executive MBA) Program is one of those types of MBA programs that differ greatly from a full-time MBA program in many aspects. Since the students are already employed, there are no internships and university scholarships available. The curriculum offers only general management skills and there is no or very limited chances of specialization
- EMBA (Executive MBA ) Program is one of the most popular international MBA programs as it is a beneficial program for executives as it provides a solid foundation in each of the major business disciplines and the students earn their degree in two years or less.
- Pursuing this program involves a high level of commitment since the student has to balance both the professional and academic front and keep pace with the demanding and hectic schedule.
- Most EMBA Executive MBA program students have to devote 80 to 100 hours a week between job and studies. Absenteeism is not tolerated since the classroom time is squeezed especially for the convenience of the students
- Executive Education is one of the different types of MBA program that is broad and an evolving concept, which is being embraced by corporate houses and multinational companies for harnessing the maximum potential of their executives.
- An emerging trend in Executive Education is the bent towards customized programs, which are tailored for a particular concern or company. These programs allow for practical learning on the job and equip the executives with the necessary skill-set to succeed in a dynamic business environment.
Difference between Executive MBA Programs and Executive Education
- Executive Education is one of those types of MBA programs which is all-embracing, comprising of the Executive MBA program along with various other training and development programs created for skill building in executives
- Executive MBA forms an integral part of Executive Education since many corporate houses sponsor management programs for their employees to develop leadership and other crucial management abilities.
- This MBA program forms the core of Executive Education and is a stepping-stone towards the growth of the company and its resource pool.
- Executive Education is a continuously on-going process which is undertaken by the company to constantly nourish the intellectual vitality of its employees.
Specialty Degree in Management Education
- Though there are different types of MBA programs, a specialty degree in Management Education is career-specific and offers intensive training in a chosen field
- Unlike an MBA degree, it does not offer a general background in management education. There are various areas in which one can acquire a specialty degree, like Computational Finance, Industrial Administration, Health Care, Public Accounting, and others. It is advisable to research your chosen industry since some fields are accessible only after specialized training.