So you set your mind on pursuing an MBA, definitely a good choice. So what module are you going to go with, will you go with a Fast or Full MBA, Executive or Non-Executive, what majors are you gonna choose and what major options can you expect?
These are all questions you might have or might have not asked yourself before setting your mind on pursuing an MBA. Realizing that there’s a lot of content out there that does cover these points but not as in-depth as we think you might need.
In this article, we will be discussing the different MBA modules out there in-depth, What are the different Majors in each module & finally some real-life examples of some existing MBA programs out there. In short, a more detailed Guide to all what you need to know about MBAs
Judging by the fact that you’re already looking into the different modules & real-life Mba Modules and programs that might fit you, you’re probably familiar with what an MBA exactly is. But for all of you out there let’s start with defining what an MBA is and discussing the different modules out there.
First, let’s define what an MBA is and break down the acronym for all of you out there who aren’t familiar with the term. MBA stands for Masters of Business Administration.
As for what it is, that might slightly differ from website to the other but the most collective and were describing definitions of it. The aforementioned definition is that its a General graduate business degree, that endows its students with a wide variety of technical, Managerial, Operations, Management & Leadership skills among others
2) MBA Modules
Now that we have the definition out of the way its time to talk about the different MBA modules out there. The most common and known MBA modules around the world, according to Wikipedia, the most common MBA modules:
These types of programs usually take around two academic years, approximately 18 Months. Students of this module usually enter with considerable prior real-life knowledge & Experience.
The Student Experience in this type of MBA is fairly similar to that of a university student. They usually take the classes during the weekdays and 600 class hours of classwork (60 credits)
- Accelerated MBA Programs:
This is a more accelerated version of the Full-time 2-year program. The accelerated MBA usually includes a higher course load, more intense classes, schedules & examinations.
The downtime during the program and between semesters is also considerably less. To give you an example of this there isn’t a 3 to 4-month vacation in between semesters, but rather a 3 to 7 to 10 days vacation.
Part-time MBA’s usually hold their sessions on weekday evenings, after working hours or during weekends. This Module is usually for working professionals who can’t abandon their work but need to pursue the degree.
- Full-time & Part-time Executive MBA’s:
Full-time Executive MBA’s are designed in a way to satisfy the more advanced needs of managers & executives, mainly targeting those with 5 years of experience or more.
The Duration of the Full-time MBA is 1 year. This type of Program is commonly found in India as an alternative to the 2-year fresh graduate program.
The Part-time Executive MBA is, same as the Full-Time version, caters to Professionals with prior experience but can be concluded in 1 to 2 years max.
The Dual MBA module is built around combining an MBA with other programs such as MS, MAMEng, or a JD. This allows students to seek both an MBA and another degree on the side without needing to pay the extra cost.
- Distance learning MBA programs:
Blended or Distance learning MBA programs differ or separate themselves on the basis of offering a long-distance solution for those who are unable to attend a Business school or lectures in other facilities.
How long this MBA will last for will depend on if your gonna be going for the 1-year option or the 2-year option. How the Information or your lectures with your professors will be delivered to you could range from correspondence emails to live video sessions or conferences.
This term is used equally by both Non-Profit & For-Profit institutions. Mini Mbas are more of a training regiment that focuses on the fundamentals of business.
These are usually non-credit bearing courses with a requirement of fewer than 10o hours of Total Learning.
Nowadays, due to the criticisms directed towards this system, many schools have shifted these courses into credit ones so that they would count towards a complete traditional MBA.
3) MBA Majors
So now that you know the different types and modules of MBAs, let’s move on to what majors you can look forward to studying while enlisted in an MBA program. Here is a list of the most common subjects you can expect to study in your MBA.
One of the most common subjects you’re bound to find across different MBA programs in Financial Management.
Since MBA programs are designed to provide its pursuer with managerial and operational skills, it’s necessary that you acquire knowledge about how to budget & allocate company resources.
This topic educates you on how to manage the funds entrusted to you, and how to measure your company’s liquidity, profitability & efficiency among many others.
Studying Marketing Research Since an MBA program aims to give you the needed management and entrepreneurship skills to either hold a managing position or start your own business.
This subject will mainly focus on teaching you the skills needed to conduct reliable market research and gather data from customers and future potential clients to be used in later decision making.
Continuing on the theme of Business management most MBAs would also have Operational management as a major.
The main purpose of educating MBA Students in this field is to allow them to address the different issues and concerns that might arise while operating a business such as Productivity, Quality, capacity & supply chains among others.
- Customer relationship management
Today’s markets and customers are more unpredictable and hard to sustain a positive relationship with than before. That is what studying customer relationship management is for.
This subject will allow you to learn how to build brand loyalty with both your existing customers and build them with new customers.
You will also know how to attract prospective clients & Potential customers from buying your goods or subscribing to your services.
- Human Resource management
This subject is more related to the human side of the people management aspect of the business.
Through studying this subject you will learn more about managing a team and the businesses whole workforce.
You will also get a chance to know more about the existing labour laws that protect the interest of the employees and balance that out with the company needs.
These are the most common five subjects however some of the other subjects majors available are Business Fundamentals, International Business Development, Discovery Expedition, accounting, finance, Economics & Leadership communication, Data Analytics amongst others.
Explore the amazing world of Financial Management, Market Research and more with our fully Accredited MBA Degree, starting at 2,500$.
4) Existing MBA Programs
Now that you know what are the available modules and the different and most common subjects let’s have a look at some of the nest and already existing MBA programs out there:
The Wharton MBA program is one of the most Highest ranking MBA programs in the World. MBA offers Both Normal MBA programs & Executive MBAs.
Although the MBA programs are not by any means cheap but joining a huge network of Alumni, A very good chance of getting Employed in a full-time job & a salary ranging from 122,000$ to 150,000$, the investment seems more than worth it.
The estimated first-year cost of the Wharton MBA is 111,695$. This includes the Tuition and fees of 80,432$, room & board cost of 21,050$ & last but not least books, Personal supplies cost around 10,213
- The Stanford MBA Program:
The Stanford MBA program is similar to the Wharton MBA program with the same option of a year or a two-year program.
We weren’t able to get any postgraduate data, as for your time studying for the MBA, A diverse group of colleagues, Work & Life balance & rich campus experience is just some of the benefits you shall acquire.
The cost of the Stanford MBA Program in terms of tuition in comparison to other similar programs is not high, standing at a 74,706$. With the other cost however the total Fee is 142,080$.
- University of Chicago MBA Program:
The MBA Program offered by Chicago University is no less than that offered by Wharton or Stanford, in terms of quality of experience delivered.
It offers the same extensive experience in terms of giving a complete MBA experience, work & Life Balance, & a rich Campus Experience.
The MBA Degree lasts for 21 months, Graduates within three months of Graduation with a per cent of 95.1%, 3 to 4 courses per quarter. The cost of the two year MBA program is 146,880$.
Of course, these MBA Programs are three of the top-ranking MBA programs in the world, there are other Several MBA Programs and degrees offered by different BUsiness schools Institutes & Universities.
Some of Which are The London Business school MBA Program, The Insead, HEC Paris & IE Business school among others. The prices of European MBAs range from 100,000$ to 110,000$
In conclusion, we hope that this article has been beneficial for yourself and that it has made the choice somewhat easier for you, the choice is yours to go with whichever option that suits and fits your circumstances and needs.
Have a lovely Day and Good luck in your pursuit of knowledge.