What Is a Master of Business Administration?
August 9, 2012
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There are a number of business related degree programs that students can complete to prepare themselves for a career in the corporate world. One degree program has come to be regarded by many as the preferred degree for candidates to hold, the Master of Business Administration.
Often referred to simply as MBA, the Master of Business Administration is a post-graduate degree that may increase an individual’s employment qualifications.
What is an MBA?
A Master of Business Administration is an advanced degree offered only to post-graduate students. The overall purpose of an MBA program is to offer students a chance to study the principles of business and management. There are a number of areas students can focus on within an MBA program, but every program provides a similar base of education to students in the theory and application of business practices. [Quintcareers]
What Areas of Study Exist?
As mentioned, every student receives a base education in the theory and application of business practices. With that said, there are also various areas of study that students can focus on and combine to create a specialized degree that could serve them in their future career. The following are examples of typical areas of focus students pursue:
- Business Management
- Economics
- Finance
- Marketing
- Strategic Management
Who is Eligible for MBA Programs?
Because an MBA program is a Master’s level, or post-graduate, program it is only available to those who have completed a previous undergraduate degree program. Holding a Bachelor’s degree is a must for any student hoping to enroll in an MBA program, but there is no one undergraduate degree that guarantees entrance into MBA programs. Any number of business related undergraduate degrees, including marketing, accounting, or finance, could qualify students for MBA programs.
How long do MBA Programs Last?
The length of time it takes to complete an MBA program can vary from institution to institution, and student to student. Those who enroll in traditional business schools as full time students will usually complete the program over the course of two school years. These courses often consist of one year of introductory and classroom study, with a second year devoted to specialization and internships. Online programs are available offering one year, condensed programs.
What is the Future of the MBA?
The Master of Business Administration remains an extremely popular degree program in the corporate world, as it has been for much of the past three decades. The landscape of business is changing though and MBA programs will feel the effect of these changes. While new students working in small business and not-for-profit industries are starting to attend MBA programs, the news is not all great for MBA programs. [Mba-channel]
According to the Wall Street Journal, more schools in the United States are considering following a trend that has existed in Europe for decades. A trend is emerging among schools seeking to offer more specialized Master’s programs in business fields. These programs, many once covered under specialization in MBA programs, may now be offered as individual Master’s programs.
It is not necessary for any student exiting college to have a Master of Business Administration degree in hand to earn job. However, an MBA has long been considered a good asset that is necessary for students to pursue management positions once they have some experience to add to their resume.
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Sources:
http://www.quintcareers.com/MBA_degree.html
http://www.mba-channel.com/channel/article/future-of-the-mba/