MBA is defined as an abbreviation for Master of Business Administration. It is an internationally recognized degree designed to develop the skills required in business and management. With an MBA degree, you can pursue a managerial career in the public sector, government, private industry, and other areas. The skills acquired through the program prepare you with practical skills as well as theoretical knowledge that you can further your business aspirations. They polish a range of soft-skills like communication, motivation, and negotiation. They also open global opportunities for career growth.
It originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The programs include a core curriculum of subjects such as accounting, economics, marketing, and operation. In addition to this, some elective courses allow participants to follow their own personal or professional interests. Some schools require MBA candidates to complete an internship at a company or organization, which can lead to concrete job opportunities after the program.
Since the MBA is the most popular professional degree program and with global opportunities available, the program is unrestricted to a particular place. There are countries like the USA, UK, Canada, etc, you can apply for it. More than 2500 programs are offered worldwide.
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MAJOR TYPES OF MBA PROGRAM:
Typically, the MBA program is of 2 years but there are some colleges that offer MBA programs for 1 year. Depending on the geographical location and the time allotted to you, there are five types of MBA programs.
- Full-time MBA: This program is suitable for candidates with 2-7 years of work experience. A full-time MBA consists of 4 semesters, inclusive of dissertation and project work, industrial exposure and summer internship.
In this program, the first year is all about networking. The second-year is often dedicated to elective courses. Most of the schools offer the students to complete a summer internship in the course of two years of studying.
- Part-time MBA: This program is developed for the candidates who can’t leave their jobs meaning students can get a degree while working. But this program can last from 2-7 years, depending on the student how much time he/she devotes. Many schools allow students the opportunity to complete the course on weeknights or weekends, depending on their schedules.
- Executive MBA: the Executive MBA is geared towards a specific kind of professional: those with substantial leadership experience. Students at these programs typically have at least seven to ten years of work experience. EMBAs are also part-time, with a variety of different scheduling options. Some schools offer classes on weekends, others in the evenings, and still, others offer modular scheduling options, such as one week per month. These programs typically last between 16 and 22 months.
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- Online MBA: The online MBA is an alternative for students who need flexibility, in terms of geography and scheduling. This is an equivalent degree to in-person MBAs; students’ diplomas usually do not indicate they pursued their degrees online. Many online MBA allows students to complete their coursework on their own time, although some are structured in a cohort format. These programs typically take three to four years of part-time study, although some can be completed in a shorter amount of time. Online MBA programs also typically offer several intakes per year.
- Dual MBA: A combination of the online MBA and part-time MBA, combining periods of online study with face-to-face sessions. Like the online MBA and part-time MBA, these programs are intended for working professionals who don’t have the resources or desire to quit their job to study.
- A graduate degree under 10+2+3 or 10+2+4 pattern under any discipline, obtaining at least 50% marks in aggregate from a recognized university.
- An honors degree under 10+2+4 pattern from a recognized university under UGC Act with at least 50% marks in aggregate including languages.
- Candidates who have passed Bachelor/ Master degree through correspondence or Open University System from this university, recognized by law, are exempted from 10+2 pattern. The duration of the degree program must be 3+2 years.
- Must have appeared in any one of the tests- CAT, XAT, GMAT, JMET, MAT. Apart from these tests, some schools conduct there own entrance tests to check the aptitude test individually.
- The shortlisted candidates of IIMs and some other leading management institutes are expected to prepare essays.
- Group discussions and personal interviews are also conducted to determine the personality traits and communication skills of the candidates.
The program is divided into two years. Each consists of 2 semesters.
- Organizational behavior
- Quantitative Methods
- Managerial economics
- Financial accounting
- Marketing management
- Human resource management
- Business communication
- Information technology management
- Organization effectiveness and change
- Management science
- Economic environment of business
- Financial management
- Management accounting
- Production & Operations Management
- Marketing research
- Management of information system
- Business Ethics and Corporate Social Responsibility
- Strategic Analysis
- Legal Environment of Business
- Project study
- Strategic management
- International business environment
LIST OF ELECTIVE COURSES
Area 1. Finance
Area 2. Marketing
Area 3. OB and HRM
Area 4. Production and Operations Management
Area 5. Entrepreneurship
Area 6. Information technology Management
Area 7. Services Management