Types of MBA Programs
A Master’s in Business Administration (MBA) degree 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 accelerated career growth.
Universities all over the world offer different types of MBA programs, thus catering to varied learning needs & priorities of students. Apart from the regular full-time MBA program, there are a variety of MBA degree programs offered at international universities, to cater to different learning needs and priorities, Most of these MBA programs require a student to submit his GMAT score. These include different types of MBA Programs as:
MBA Online Programs
- An MBA degree that is acquired via distance learning; it is an ideal program for working professionals who wish to progress in their careers but cannot afford to pursue a full-time MBA program or degree; thus such students can balance both their professional and academic pursuits
- As an Online MBA student, you will get to interact with your faculty almost virtually and the academic interaction is facilitated by the use of advanced communication technologies such as the Internet, video conferencing and e-mail.
- It is extremely popular as it demands a lesser commitment of time than the regular program as the class work can be scheduled in a flexible manner.
- On the flip side: It 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 case of an Online MBA.
MBA Part-time/Evening Programs
- 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.
- A good option, as classes are conducted in the evening; professionals can attend classes in the evening after their work hours and enhance their career by an MBA degree.
- It usually offers the same specializations as a full-time MBA program does, 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.
- It can be funded with loan money available for eligible students; sometimes the employers also provide tuition reimbursement as an employee benefit.
- In terms of limitations, scholarship is not available and even the career services are quite restricted.
- most international part-time/evening MBA programs cannot be converted into a full time course since the credits do not get transferred
MBA One Year Programs
- An intensely concentrated program taught over a 11-16 months. The program has a high level of competition and provides learning beyond the classroom.
- It offers a complete and intensive learning experience which includes career services like campus interviews, social and professional clubs, career counselling and other services
- Internship is not a part since there is no sufficient time break between semesters.
MBA Executive Programs
- 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 climbing up the corporate ladder
- 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; involves a high level of commitment; students have to devote 80-100 hours a week between job and studies
- Classes held over weekends; the academic environment is conducive to interactive learning with students contributing their ideas and insights towards the curriculum
- EMBA curriculum differs from that of a full-time MBA program. 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 specialisation
- Executive Education is a 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 Education is a continuously on-going process which is undertaken by the company to constantly nourish the intellectual vitality of its employees.
- 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.
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 specialised training.