TYPES OF MBA PROGRAMS
MBA, or Master in Business Administration, is made up of a program which has curriculum that provides a foundation in the basic concepts of business. These include finance, management, economics, sales, marketing, human resource management, and supply chain management. There are many different types of MBA programs. The article below will offer students with a general idea of the various types of MBA programs available based on the working situation of the student and the types of specializations available. The article will dive into the different types of MBA programs to choose from when they decide to take the plunge. Two-year Full-Time MBA Program: Requires full-time attendance, which means the student cannot easily work while attending school. Most traditional colleges and universities offer this type of program. Full time courses typically last four semesters, which are stretched out over two academic years. There is a usually three or four-month break for an internship. Core course requirements are usually completed during the first year; sometimes one or two courses may carry over to the second year. There is functional specialization which is a specific concentration of study and/or elective courses round out the second year. Students often relocate to attend these programs. Course work can be customized through electives and concentrations. A broad range of academic backgrounds are acknowledged. Student collaboration is encouraged. Internships offer a chance to learn and practice new skills, enhance the student’s résumé, and line up post-graduate employment. Students have time to partake in neighboring business and alumni events and increase their network. Students also have access to career services, social and professional clubs, speaker series, career counseling, and other "campus life" activities. Students should have well-defined career goals, as a lack of career focus can limit the value of what they can gain from networking opportunities. Students should furthermore be able to have enough money to spend two years out of the workforce. Accelerated MBA Program Usually completed in 18 months, the accelerated program is similar to the full-time program, but with less down time between semesters. For example, the student may have to take classes over the summer and winter breaks. Accelerated, highly specialized programs are held, which last from eleven to about sixteen months. Either less time is spent on core classes or there are limited opportunities for specialization. Students often relocate for one-year programs. Since, this is a full immersion program, working at a full-time or part-time job is usually not possible. The program intensity tends to be high. This program is suitable for those who want to advance in their current industry or function can earn a degree in a short amount of time. The coursework is specific and pertinent to a profession or industry area of expertise. Opportunities for networking are also available. Internship opportunities are however, limited because there are no extended breaks between semesters. Some employers have a preference for the broad structure and coursework of a two-year MBA program. Most such programs have firm requisites for work experience or scholarly preparation. Part-Time or Weekend MBA Program The part-time MBA program is common among working adults, as it allows them to attend classes on the weekends or weekday evenings. The only downside is that the part-time MBA curriculum takes longer to complete. Courses are scheduled throughout the year. Students have to opt for one to two courses each semester over a period of four or five years to fulfill coursework requirements. Commuting is more common in this course, rather than relocation. Classes are scheduled outside standard business hours. Students can develop work-related skills without interrupting their career. Students can bring challenges at work into the classroom and explore solutions. As students are working full-time while earning their degree, internships are typically not included. Scholarship money may not be available. Career services may be limited. Distance learning coursework may not be available or may be limited. Executive MBA Program This program takes two years to complete and is reserved for executives with eight or more years of experience. Classes normally meet on the weekends or evenings to put up with a full-time work schedule. Enrollment is often joined to a new or anticipated promotion as most students receive some type of company sponsorship. EMBA students often work full-time and go to classes on Fridays and Saturdays, usually on every other weekend, over two academic years. A well-built syllabus of several courses is a part of all of the major business disciplines. Programs offer a fully captivating experience, with learning outside the classroom and wide-ranging faculty, student and team interaction. The common professional experience and proficiency of students become part of the curriculum. Students receive their degree in two years or less, faster than their part-time counterparts. Programs offer career-widening management and management teaching for executives. Permanent relocation is often not required. Students build a strong network of peers. Programs require a serious commitment from the students, their families, and their employers. Programs are very expensive, particularly if there is restricted monetary support from the student’s company. Programs are intense and most students add significant hours to their work week between their job and school. If classes are held on weekdays, employers must concur to give EMBA students time off from work to be present at classes. Company-sponsored EMBA students normally do not take part in career services actions, to steer clear of a conflict of interest. Internships are not usually available in this course. Distance Learning MBA Program Another choice for busy and working professionals is the distance learning program which allows them to take classes from the comfort of their own computer. It is less time intensive since there is no travel and the coursework can also be completed on the student’s personal schedule. The most common distance learning programs are: Video courses which feature previously recorded lectures that are posted weekly; Live web conference courses which are conducted in a virtual classroom at a set time and Hybrid courses which combine in-person courses with video and web conference courses. Geographic flexibility and online video courses can be seen when the student has time and the class work can be planned around individual commitments. Students can stretch out cost and time obligation of a graduate business degree over a longer period of time. Professionals can gain fresh information of practices and theories without doing a full-time MBA program. In this course, there is less interaction with fellow classmates and faculty than in full-time programs. In-person networking events may be also limited. Studying remotely is not ideal for those who thrive in an interactive environment. Usual student services, such as career placement, can also be limited or maybe even absent. Choices in distance-learning programs are however, still somewhat restricted. Scholarship support may not be offered. A number of employers do not view distance learning courses positively. Dual MBA Program These are usually in combination with another closely related discipline. The most common is an MBA in combination with a Juries Doctor, a.k.a. the JD/MBA program. Other popular programs are the MBA/MA program and MBA/PhD program. Features of a dual-degree program are that the degree generally takes around three or four years to complete. Dual degrees within the business school do not require a separation education but a dual MBA/JD does. Both programs are usually at the same school, though some cooperative relationships between schools do exist. The most popular joint degree programs to merge an MBA with are; Law, Healthcare administration, Public Policy, Public Administration, Engineering, Technology and International studies. Pursuing a dual degree is generally faster than pursuing degrees separately, as some courses fulfill requirements in both programs. A number of universities present undergraduate or MBA programs that permit students to commence graduate studies while they are still an undergraduate. In these programs, graduate courses can fulfill remaining undergraduate requirements. Joint degrees require an extensive absence from the job market. Continuing down a career course and maintaining existing job skills and professional familiarity is tricky when pursuing a joint degree. Early Career MBA This program is designed for recent graduates with one to two years’ experience. It provides the traditional learning experience with a full course load, typically taking 2+ years to complete. Global MBA This course offers a full-time MBA degree program, within a culturally diverse classroom. The syllabus is focused on global business associations. Online MBA vs Regular MBA There are benefits and drawbacks to both online MBA programs and regular MBA programs. Studying online can help with issues like busy work schedules and family commitments. However, with an online MBA program, the student will miss much of the interaction that goes on in the classroom with a regular MBA. On the other hand, a regular MBA program will not be as flexible in terms of the student’s time commitment and it will be very difficult to work while the student attends school. When people are considering whether they should go for an online MBA or a regular MBA, the question of legitimacy always arises. People want to know if a company will take their online MBA as seriously as a regular MBA. Although online MBAs have as much integrity as a regular MBA, it is at all times prudent to also converse with the companies where the student would like to work, and find out the hiring manager’s views on an online MBA and a regular MBA. This will help the student make a proper and informed decision.