Executive MBA

Executive MBA
Executive MBA programs are just that -- executives in industry who want to add an MBA next to their name. Aside from senior managers you'll often find physicians and attorneys in these programs. Executive MBA programs are mostly designed for networking purposes and for the student to get an MBA 'stamp of approval'. That's about it. Career goals aren't much of an issue since the students already have powerful positions and frankly the MBA isn't going to matter for their professional endeavors. These people already run multi-million dollar divisions or entire firms, you think an MBA is going to make any differerence? Nope. EMBA classes usually held on Saturdays all day long and/or some weeknights. They are entirely cohort programs, which means you take the same classes with everyone enrolled. This causes problems for elective courses since the way it works is the class 'votes' for what electives to have and comprimises. They say the programs are equivalent to a regular MBA but this isn't really the case. Instruction is less rigorous and expectations lower. One doesn't even need a good undergrad GPA nor GMAT scores to get in. Classes take on a more unscientific approach by emphasizing and discussing personal experience at length among the students. In fact, many EMBA programs are held in dining halls with a projector screen and not classrooms or lecture halls. Gourmet catered food service during sessions is common. That gives you an indication to how different it is from a regular MBA! EMBA programs are extremely important to biz schools because they bring in huge amounts of money. Not necessarily just from the tuition (which is much higher than a regular MBA), but from how the students of the organizations tend to be large benefactors to the school itself (they donate a LOT of money and services). Honestly, it borders on unethical but that's how it's done.

What is an Executive MBA programme?

An Executive MBA programme provides an opportunity for experiences professionals to obtain a master’s degree in Business Administration on a schedule that minimises disruption of work and personal pursuits. Such programmes include a cohort class structure that offers a lockstep, planned curriculum in an executive setting. In other words, members of each class begin the programme at the same point, move through the curriculum together, and typically complete the degree requirements for graduation as a group. Executive MBA (EMBA) students are required to complete their degrees in two years or less. During that period, they gain a wide range of new skills and sharpen their analytical abilities by combining coursework with day-to-day professional experience.

A unique aspect of an EMBA programme is the collective professional experience of its participants, which greatly enriches the educational environment. A team approach is often used to allow for the sharing of diverse perspectives on various topics; this interaction results in a challenging, stimulating learning experience that provides for maximum return on time and

resources invested. EMBA students possess several years of significant, post-baccalaureate career experience. Most students are sponsored both financially and through release time by their employing organisations, and all continue to work full-time while enrolled in the programme. To ensure optimum benefits to participants and the sponsoring organisations, class size and class structure facilitate close interaction between faculty and participants.

Can I afford Executive MBA Programme?

Obtaining an MBA degree is an investment – an investment in learning and in a person’s career and future. The high quality of faculty, facilities and support staff required to provide a successful EMBA programme dictates that such programmes include an investment by the participant’s sponsoring organisation. Programme costs are modest in comparison to the benefits yielded. In the majority of cases, students are sponsored fully, or in part, by their employers. Employers understand the competitive advantage they gain from having an employee whose management skills have been brought to the highest possible level. Students who are not sponsored by their companies often qualify for loans, scholarships, and/or other financial aid.

How could an executive MBA degree impact my career?

An MBA degree reflects a sophisticated level of knowledge and skills concerning a wide range of contemporary management topics. It also implies a well-developed understanding of strategic thinking and planning in a globally competitive world. Professionally, an MBA provides the skills needed to gain additional management responsibility. For the entrepreneur, the knowledge gained in earning an MBA can make the difference between success and failure in highly competitive environment.

What is different about an executive MBA programme curriculum?

Courses offered in an EMBA programme are normally the same as those taught in traditional MBA programs – accounting, finance, statistics, management, marketing and information systems. However, EMBA courses are enhanced by the extensive professional experience of the participants and are uniquely structured to teach a maximum amount of course material in an accelerated timetable. In addition, senior faculty experienced in teaching and consulting are employed as principal instructors. Once all coursework is satisfactorily completed, a Master of Business Administration (MBA) degree or equivalent is awarded.

Who participates in executive MBA programmes?

A diverse group of professionals enter and complete EMBA programmes. What they share is a sincere desire to grow professionally by obtaining an MBA degree, and a willingness and ability to meet program time and course requirements. A number of factors are considered in selecting candidates for an EMBA programme. In most cases, each applicant is evaluated on his or her own professional performance, academic records, GMAT scores, professional recommendations, and a demonstrated ability to accomplish graduate-level business coursework. Most EMBA students enter a programme with ten or more years of professional and/or managerial experience. An undergraduate degree is generally required, though it need not be a degree in business. Evaluation of students for admission to an EMBA programme is a very individualised process. While test scores, grade point averages and other objective criteria are all considered, a prospective student’s background, work experience, career goals, desire to succeed and numerous other factors are considered in making an admission decision. What type of time commitment is involved? EMBA students find themselves exhilarated to be back in the classroom among their professional and intellectual peers, where they can share the challenge of learning new methods and means for managing the business of doing business. Success in professional life demands a substantial and regular time commitment, and it is no different in an EMBA programme. Over the course of the programme, at least 15-20 hours each week should be allotted for some combination of classroom work, computer and research efforts, and course assignments. Added to the already heavy demands of a business career, the time involved in pursuing an MBA is considerable and requires a high level of motivation and commitment. The burden is eased by the support of other students and by the assistance of the EMBA programme staff.

General (MBA) Master's Degree Programs
Would you like to fully develop your competencies in business practices and operations? Are you looking for a way to enhance your business career and move into a management position? A general MBA degree program offers you a broad spectrum of coursework to help you meet your career goals. Degree Options
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Business Degree Business Management Degree

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What Careers Does an MBA in Finance Prepare Graduates For? What Can I Do with an MBA in Health Administration?

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What Can I Do With a General Master of Business Administration Degree?

A general Master of Business Administration (MBA) degree can help you build leadership skills and cultivate your knowledge of business practices. As a graduate with a general MBA, you can work in many areas of business, including financing and marketing. Your education could also help you get promoted to an executive position. With an MBA, you might be able to qualify for work as a marketing manager, financial analyst, auditor or bookkeeper. Additionally, an MBA might offer relevant education that you can employ in many other fields. Business strategizing, personnel management, entrepreneurship and marketing skills could apply to health care, legal, technical and creative occupations, and might provide the knowledge you'd need to start your own business.

What Are Programs Like?
Most general MBA programs include classes in marketing management, business statistics, strategic management, international business, accounting and organizational communications. You can also gain leadership skills that can serve you in management positions and help you make positive changes within your company. Other courses cover financial management, decision-making and business law. In most MBA programs, you can receive general business education or choose a concentration in marketing, accounting, information technology or other business area.

How Can I Get Started?
Most general MBA programs require students to have successfully completed a bachelor's degree program. Though some schools don't demand a particular major, you might need to have completed some specific undergraduate coursework, such as accounting, finance, marketing and statistics. You might also need to earn a passing score on the Graduate Management Admission Test (GMAT) prior to admission. Though you might not need a background in a business field, some schools recommend you have at least a year of related work experience before pursuing graduate studies. MBA stands for Masters of Business Administration, and is a post graduate degree in business communication. It is also one of the most sought after degrees in the world because of its value to people in business and administration. An MBA degree can benefit those in positions in business and management, especially those in executive and managerial positions. An MBA degree from a leading institution in the US has great value throughout the world and thus there are thousands of students from various countries who come to the US for the sole purpose of pursuing an MBA degree even though their own country may offer several MBA programs. An MBA Program offers a range of benefits for the successful applicant, including: Business Knowledge: The MBA program and business schools give you valuable knowledge about business and all its related aspects. You learn about business strategies and concepts, not just on paper, but the training and internship required in an MBA course, teaches you how to use these skills in practical life and in day to day business operations. Leadership Abilities: An MBA degree involves rigorous training, assignments, reports, presentations, and group projects, all of which give you the necessary abilities to handle real-life business situations. This helps to set you apart from those who do not have such expertise and can make you a leader in your chosen field.

Networking: The alliances that you form with your classmates and the network that you create is deemed as one of the most important and valuable things that an MBA program can give you. MBA graduates have often felt that the associations formed during the MBA course are resources that are invaluable and can be drawn upon for years after the MBA degree has been achieved. Anyone thinking of applying for an MBA program could benefit greatly from learning more about the program beforehand, and finding out what an MBA is all about as well as what MBA institutions are looking for in applicants. This site aims to teach you about various aspects of the MBA program, enabling you to make a more informed choice and to be more prepared for what to expect.

How to Choose your MBA Specialization
The Specializations Boom
MBA programs come in all shapes and sizes, but most prospective students play it safe and plump for one of the stalwarts of finance, marketing, or management. One of the main reasons for this is that they do not fully investigate the diversity of specializations out there, and that’s a great shame because only once a student knows the full range of MBA options can they select the one that best fits their career goals. The standard specializations are: Marketing, Finance, Human Resources, IT/Systems, Operations, and Entrepreneurship, but these are rapidly being joined by more specific subjects, such as Corporate Social Responsibility, Wine Management, Football Industries, Luxury Brand Management, Hotel Management etc. The trend to such courses is accelerating, with 2,500 candidates taking them in Europe in 2007, compared with just 200 ten years ago. With an MBA in hand, you have no trouble assessing trends in home Values Las Vegas.

Are Specializations Credible?
All MBAs hold certain core attributes that are valued by employers seeking to hire the managers of the future, and general MBAs teach their students to think strategically and analytically. However, if you add to this a specialization that matches with future career goals then the combination can fast track a candidate to senior management. Some people think that prospective employers are reluctant to hire people from such specialized programs because they lack credibility. After all does Hilton Hotels really need to hire an MBA in Hotel Management rather than an MBA generalist from a top school? The answer is not a simple one, and it all comes down to the credibility of the course in question. Students should be wary of small universities that are just using marketing skills to promote ―hot topic‖ courses without having the depth to deliver a high quality course.

The Two Most Important Factors in Selecting a Specialization

If you decide to take the specialization route then you need to make sure that the school is well ranked for that specialization. For example, if International Management is your bag then the best schools are: 1. 2. 3. 4. 5. INSEAD Thunderbird, The Garvin School of International Management Harvard Business School The Wharton School, University of Pennsylvania IE Business School

Different specializations will have different rankings, so do your research – prospective employers will certainly do theirs. Another factor is the one-year versus two-year course selection. A two-year course allows the student to be generalist in year one, and move to specialist in year two. On the other hand, a oneyear specialist MBA is really a branding exercise as there is not enough time to cover both standard MBA topics and the specialization within the limited term time.

Example of Specialization: International Executive MBA Example MBA Specializations
Marketing MBA Specialization This specialization can help accelerate your entry and progress in some of the most competitive fields: marketing, advertising and public relations. Hospitality & Tourism MBA Specialization For those that want to work in management roles in hotels, restaurants and the tourism sector this MBA can equip you with the management techniques needed to rise to a senior position. Human Resources MBA Specialization This MBA can lead to a key role managing a company’s most important asset – its people. You will learn about best practices in hiring and training. Health Care Management MBA Specialization This is a specialization that could prepare you for management positions in health care facilities, pharmaceuticals, insurance, care facilities for the elderly, and public health agencies. It’s a growing industry, which is seeing this become an increasingly popular MBA. Communication MBA Specialization This is for students looking at jobs in media, advertising, journalism, and public relations. MBAs are not widespread in these fields in the same way that they are in finance, and they can give a real competitive edge in advancing to mid- to upper-level management positions.

Entrepreneurship MBA Specialization This is a controversial one because many claim that entrepreneurship is not something that can be taught. These criticisms miss the point that this MBA is really about business administration strategies that engender the same innovation that makes entrepreneurs so successful.

Concluding Thoughts
Specialized MBA programs are certainly spreading, from investment management, through to arts administration, real estate, and biosciences. But are these just branding exercises for smaller schools, rather than truly useful courses that benefit students? It seems not with established schools such as Berkley, Wharton and MIT offering programs in fields as specialized as sports management and e-commerce. However, for students who take a specialized MBA not only are they accelerating their progress within that specialty, but also they are limiting their opportunity to work outside it. That can be problematic when your sector is hit by an economic downturn. Another factor is that since these programs are new they often require a lower GPA, which mea Congratulations on making the decision to study for an MBA degree! By no means, though have your decision-making days come to an end though. Among the considerations to take into account is how marketable do you wish to become. A regular MBA degree, while very impressive on its own, is not nearly as impressive as a specialized field MBA. This will take you longer to study for, but the results will be worthwhile. The core topics that you will learn as a regular MBA student will include:
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Accounting Quantitative analysis Economics Marketing Organizational behavior Among many others

More advanced study for specialized MBA will include special relations to particular areas of business and industries. Topics may include human resources, financial counseling and many more. In addition to all the other considerations, take into account how prestigious your degree will seem to the potential employer. Holding a degree from one school as opposed to any other may be the magic key to success. Some schools are better known for their specific syllabus in a particular field. Even holding an MBA from one country instead of another may be a factor. Unranked popular schools are listed in favorite financial publications. ns that you can possibly use them to enter a better school than would otherwise be possible.

Looking for a successful career in business administration? The MBA is will give you a lead to specific and particular areas of business administration such as IT and specialist areas such as

Computer Systems. After studying the general MBA courses and programs for the first year, the specialized MBA in Computer Systems would be a natural progression in following years. The MBA in Computer Systems will provide a combination that will provide a foundation needed for increased competence, knowledge and skills in this area. This qualification will prove invaluable to the student who is interested in expanding his skills in this direction. You will be gain extensive knowledge of computer systems and their use in the world of business. A wide range of computer-related skills and areas of MBA Computer system-related knowledge will be imparted to you. Students of MBA in computer systems are equipped with the necessary experience and skills to progress and enjoy future careers in this particular area of business administration. An MBA in Computer systems can be studied for through many institutions that offer the course. Both full and part-time courses available. An MBA in computer systems will be ideal for the absolute part-time students, whose time is occupied by other commitments and are not free to devote all their time to studying because of varied life styles; for this reason the MBA in computer systems is available online as a versatile option. A student considering MBA studies would be wise to invest his or her time in gaining an MBA in Management. The world of business, especially in the senior positions, can be riddled with fierce competition and cutting edge mannerisms and techniques are necessary in order to succeed. For those in the consideration phase, for those currently working in this environment and for those determined to become senior executives, the MBA in Management is a necessary qualification.

All the necessary skills and knowledge to succeed in this particular field and at a higher level are part of the curriculum and any potential employer will recognize the person holding this degree as having the required abilities needed for such a position. The qualities, skills, knowledge, and confidence to perform in a senior or managerial role with competence are all by-products that come with studying for an MBA in Management. Professionals with strong managerial skills are what companies are always looking for. Prove that you can be depended upon by showing up with a degree that speaks for itself. Your path to a successful and rewarding career in business is clearly on the incline when you enter this environment full of confidence and skills. For those currently working in a business environment who intend on progressing to the highest positions within that environment, then the MBA in Management will prove ideal. Having a qualification will instill the qualities and the skills required for senior roles as well as building the confidence necessary to succeed within this framework. Currently you can take an MBA in Management program in either a traditional course of oncampus attendance or through an online course. Whether studying in a full- or part-time basis, the MBA in Management qualification is definitely worth your while for a future successful

career in business. The flexibility afforded by these schedules will enable you to continue your employment and personal commitments while ensuring that you enrich yourself with necessary skills and knowledge that an MBA in Management promises. There are types of MBA Program you can select which you think best fit your qualifications and your interests. This is important as when you are interested on the program you can do a lot of things to make this works much better for you. You have many good plans and intentions in your mind because you are so excited with the programs you have selected. In the contrary, if you don’t like the program because you don’t have enough interest you would only feel it very boring and your learning capacity is lesser. As a result you cannot do a lot of things to make your plans work. Here are types of MBA programs you can consider. You should take a closer look at the following programs so that you can select the best suited for your interests and qualifications. Try to rate how the program can best work for you.
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MBA in Accounting – The programs focus on developing skills on basic financial management for the effective formulation of programs for private businesess, public agencies including non-profit groups. It addresses advance techniques on costings, theory in accounting, corporate taxation issues, budgeting, human resources management, strategic planning, conflict management, among other things related to accounting. MBA in Finance – Includes strategic planning in accurate and effective core curriculum relevant to the global marketplace. It also deals with good and sound financial management where people ned to understand how good finances work for everyone. MBA in Marketing – Discipline and professional managers would always go for MBA in Marketing. The study deals on the many strategies available in the marketing industry as well as learning how to effectively management a business and group of people in the corporate world. With this kind of degree you can also learn the many facets of excellent marketing strategies that work well with lots of marketing professionals. MBA in Knowldge and Learning Management – This program deals with knowledge on learning management in relation to the global marketplace. Professionals with this kind of expertise designs plans and programs that meet people’s interests. Others – The are other MBA programs you should also consider and these include: Criminal Justice, Consulting, e_Business, Education, Engineering, Entrepreneurship, Executive, General Management, Global Management, Health Care, Hospitality and Tourism, Human Resources, Information Systems, Industrial Management, Media, NonProfit Government, Organizational, Project Management, Real Estate, etc.

 What Are the Different Types of MBA Programs?
With technology and education having advanced in recent years, an increased number of different MBA programs have been created as a result. Beyond the multiple programs that allow you to specialize in whatever you wish to study, the options every student has in terms of how long it takes them to earn their degree has expanded. Now students are able to easily fit their studies into their lives by choosing from the different types of MBA programs/degrees. The options start with the traditional two-year full time MBA program. This program requires a complete commitment from students that is to continue over four semesters ñ with the chance of

a mandatory business internship. In some situations, students may have to relocate in order to attend the business school they have chosen. This option is generally the most expensive and time-consuming, but the benefits every graduate receives are extremely valuable. For those who have the desire and scheduling flexibility, an accelerated MBA program can be a great alternative. With a higher course load and more frequent examinations, this program offers students minimal personal time in between semesters. When you choose an accelerated MBA program, you remove any possibility of a three month summer vacation. However, the typical requirement of participating in an internship is also removed. It is important to comprehend the amount of time an accelerated MBA program will consume from your schedule, eliminating the possibility for you to earn much of an income over the course of the year. While this particular option can restrict you in the short-term, the earning of your degree at such a rapid pace also has its rewards. By taking on less coursework and avoiding an internship you will be able to quickly implement all of the new skills you have acquired, building up a strong network. If this financial strain is not an option for your lifestyle, then you may enjoy the benefits of a part-time MBA program, where classes are generally held on evenings during the week as well as on weekends. With this type of schedule, the time it will take for you to earn your degree will be longer than the traditional two-year model ñ taking three years or more to complete. This is a popular option for working professionals who have the desire to change careers or advance further in their current industry. However, most of these individuals do not have the luxury of being able to take extended periods of time off from work in order to enroll in either an accelerated or traditional MBA program. With a part-time MBA program, students are not held captive by their demanding work schedules and are given the chance to better their lives by earning a degree that can put them in a great position to reach their career goals. The next type of MBA program that is available is the executive MBA program that is designed to match all of the academic needs of managers as well as executives ñ this gives students the chance to earn an MBA in two years (or less) while continuing to work full time. The individuals that can be found in this type of MBA program are generally those who possess a higher level of working experience ñ almost a decade more than usual MBA students. By being able to continue to work while you are in this program, there is the opportunity to immediately instill all of your newly acquired skills and knowledge into your daily routine. Another option for those looking further their education is a distance learning MBA program. Unlike all of the other previously mentioned programs, when you choose distance learning all of your classes are held online. With your programs taking place off-campus, you will be dealing with a completely different educational format where emails, videos (both non-interactive and previously required), and chat rooms become your basic learning tools. As schools continue to implement the most advanced technology programs available, more and more colleges and universities have begun to offer distance learning MBA programs to all of their students. The flexibility students receive from an online education cannot be matched by different kinds of MBA programs/degrees. There are no worries or concerns over getting to and from a classroom, and students are able to do their work whenever they feel comfortable and ready. Lastly we have dual degree MBA programs that allow students to combine an MBA degree with another degree ñ such as a Master of Arts or a Master of Science. With this option students have the chance to eliminate additional costs as this type of program is cheaper than if a student were to pursue both degrees independently. Beyond the financial benefits, students are able to reduce the amount of time it would take for them to acquire their desired education. Similar to some of

the other MBA programs currently available, this particular option is a fantastic choice for those who have not only the time, but the determination to earn their degrees at an accelerated pace. Students have the chance put together their own educational program and take control. When you have decided that an MBA is critical to your career trajectory, Princeton Review recommends that you figure out which type of program is best for you. All of the previously mentioned different typed of MBA programs were created to meet the needs of everyone looking to better their lives. Whether you have the time and financial security to be able to take your time or not, there is surely an option that can fit your schedule. While it may be tight and there will be days where you can feel suffocated or restricted by your degree program, if you are determined to advance in your industry or change professions, it is important to remember that the feeling of being hand-cuffed is only temporary. Even if you stretch out your degree program by enrolling part-time, you will most likely earn your MBA in less time than it took for you to acquire your bachelor’s degree.

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What Is an MBA?
Before you make the commitment to earn an MBA, you must first understand exactly what an MBA is, as well as whether it’s the right degree program for you. An MBA, or a Master of Business Administration, provides a graduate education in foundational business practices, such as accounting, finance, marketing and management. It is often a beneficial degree choice for working professionals who need to obtain additional education to reach their career goals and climb the corporate ladder. Taking an interdisciplinary approach to learning, MBA programs are not only meant to deepen students’ understanding of business management, but also to further develop their critical thinking, analytical and problem-solving skills.

A Brief History of the MBA
Although institutions of higher education around the world now offer MBA programs, this degree is American born and bred. The first graduate school of management, the Tuck School of Business, was founded in 1900 at Dartmouth College. According to the school’s website, it was

the original graduate business school to award the Master of Commercial Science degree, which later became known as the Master of Business Administration. This idea of a graduate business education quickly caught on and in 1908, the Harvard Graduate School of Business Administration enrolled 80 students in the first ever MBA program, according to its website. Throughout the years, MBA programs have grown in number and range of subject matter.

The MBA Today
There are various types of MBAs available through online business schools. The most common type of MBA is designed for students whose professional interests center on traditional business functions. These MBAs offer such concentrations as finance, accounting, marketing, human resources, economics and business administration. For the student who wants to make his or her mark in a particular business specialization, there are MBAs with concentrations in areas such as international, sports management, entertainment and electronic. Those who would rather focus on developing certain qualities or learning about a particular approach within business can choose such concentrations as entrepreneurship, leadership, e-commerce or six sigma. The goal of most business professionals is to obtain a management position, and to effectively manage an organization within a particular industry substantial knowledge about it is necessary. Management MBAs are designed to help professionals develop their industry expertise in such areas as health care, hospitality, IT and supply chain. There are also MBA concentrations for those students who want to become experts within a certain area of management such as operations, organizational, project, risk or global. For those who would rather focus on a certain field, there are concentrations in criminal justice, education administration, health care and technology. MBA programs have much to offer to someone who wants to specialize within a certain area of health care with concentrations such as health information technology, health services, health care administration, health care management and nursing. Technology is another big area for MBA programs, with many schools offering concentrations in computer systems, information technology, network administration and security, and technology management. And then there is the Executive MBA, which is designed to augment the working professional’s career. The EMBA is typically geared toward accomplished professionals with several years of work experience. The program consists of refresher courses on functional business areas as well as classes that focus on the development of leadership qualities, networking abilities and problem-solving skills.

What an MBA Can Do for You
There are many benefits of getting your MBA, with the most significant one being greater employment opportunities. In a Graduate Management Admission Council 2011 Alumni Survey, 93 percent of respondents said that they were employed and 55 percent reported significant satisfaction with career progress since finishing their management education. Not only do MBA graduates have better employment options, they also earn more money than people who haven’t been awarded the degree. Of the alumni who graduated in 2010, 7 out of 10

reported that their starting salaries were either as much or more than they expected, with a median starting salary of $78,820. Out of all the alumni who responded to the survey, the median starting salary was $94,542. If you are still asking yourself whether you should go back to school to earn your MBA, consider the following: Although a bachelor’s degree and work experience are invaluable commodities on any resume, a graduate-level education can guarantee employers that you have the knowledge, abilities and motivation that will be demanded of you in a higher-level position. An MBA gives you credibility and distinction that cannot be earned in the workplace alone. Obtaining an MBA will prepare you to work in a wide range of industries, automatically increasing the number of positions for which you are qualified. MBAs are recognized in most countries as respected business credentials, opening up a world of career opportunities for such degree holders.

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How to Choose a Quality MBA Program
If you’ve made the decision to earn an MBA, it’s paramount that you choose a high-quality program, one that will provide you with a solid business education, valuable academic experience and impressive professional credentials. Consider the following factors:

Accreditation
The most important thing to look for is a program that is accredited by a respected business organization. These groups thoroughly examine business schools and programs to determine whether they meet academic standards. In the world of business education, there are three wellknown accrediting organizations that are recognized by the U.S. Council for Higher Education Accreditation, the U.S. Department of Education or both. The most prestigious group is the Association to Advance Collegiate Schools of Business, which was founded in 1916 and is the oldest business school accreditor. The association has granted AACSB accreditation to 620 member institutions in 38 countries, according to its website.

The second group, the Accreditation Council for Business Schools & Programs, has been dedicated to its mission of promoting excellence in business education since its inception in 1988. Even though ACBSP is fairly young, it accredits 529 campuses and more than 700 MBA programs, according to its website. The International Assembly for Collegiate Business Education, formed in 1997, is the newest of the three accrediting groups. IACBE accredits business programs and colleges and universities worldwide that demonstrate characteristics of excellence, with more than 230 member educational institutions in more than 20 countries, its website says.

Faculty
When it comes to an online MBA program, the importance of esteemed faculty members who are experienced, educated and innovative cannot be underestimated. Students should be wary of a program in which instructors act more as course managers doing administrative work than actually teaching. Ideally, there should be little to no difference between online and on-campus instructors when it comes to education levels, academic background and professional experience. MBA program faculty members are usually required to have a graduate-level education, professional work experience in an area relevant to business and a specialization or expertise in the course they are instructing. Additionally, online instructors have the added challenge of having to teach students using untraditional methods, which means they have to make an extra effort to engage and motivate. Therefore, it is also extremely important that faculty members of online MBA programs are tech savvy as they will be required to use a variety of Internet tools to create lessons, direct discussions, distribute information and manage assignments. Once you find a program that you are interested in, spend some time researching the educational and professional backgrounds of faculty members. If you are unable to find enough information, don’t be afraid to contact the school and ask what credentials the online instructors possess and what training they have had to teach successfully in a virtual learning environment.

Curriculum
Quality online MBA programs will consist of the same, or extremely similar, curriculum as that of on-campus ones. Most programs consist of the same assignments, readings, research and activities as their on-campus counterparts. This ensures that there is little difference in education between the traditional and online student. Remember that earning an MBA online doesn’t mean less work, and sometimes may require even more academically from students in terms of activities as they are not required to be present for class time. You can check whether the quality of an online MBA program is the same as that of an on-campus one by comparing the two formats’ required courses, major projects, materials, assignments and examinations.

Technology
Considering that an online MBA program is delivered completely electronically, technology is a key aspect to consider. A high-quality program will take advantage of the most recent technological advances and utilize them to enhance the virtual learning experience. Most programs will be facilitated through a virtual classroom where students can conduct school related activities such as accessing course materials, turning in assignments, streaming instructional videos, participating in discussions, responding to lessons and keeping track of grades. It’s important that these systems have a user-friendly interface that is easy to understand

and navigate, as well as an overall design that encourages interactivity, participation and communication. Many schools will let you take a look at the type of software, systems or other technological tools that are used in their online programs to help you decide whether they will provide you with an adequate learning experience.

Ranking
Each year various reputable publications, websites and organizations release their lists of annual college rankings. These rankings are designed to show how academic institutions stack up against one another in terms of faculty, instruction, reputation and student mix. While each publication or organization uses its own methodology to determine ranking placement, common factors include student selectivity, quality of faculty, curriculum, methods of instruction, student satisfaction and employment outcomes. Students shouldn’t choose a school on rankings alone, but they can be a useful tool when comparing MBA programs. A higher-ranked business school may be more likely to provide you with a quality education than one that is not ranked at all. Our next section will tell you more about MBA rankings.

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Is an MBA Right for Someone Without a Business Degree?
You don’t have to have an undergraduate degree in business to pursue graduate school in the field. Almost all majors are acceptable preparation because an MBA is considered a professional degree, meaning that it is designed to equip individuals for higher-level positions by focusing on the practical side of business management. MBA programs take an interdisciplinary approach to education, combining various types of business courses to help students develop advanced skills required in management positions. These degree programs are designed for professionals who already have a few years of work experience and want to advance their careers. MBA programs provide students with an educational tool set that is highly applicable in just about any career they may consider.

The Development of Skills
Although students in MBA programs receive a foundational business education, much of the course work focuses on the development of essential skills and abilities. Why is this? Because when communication, leadership and organizational abilities are combined with critical-thinking and problem-solving skills, the result is a qualified professional who is ready to take on the responsibilities of almost any position. Even though the intellectual knowledge gained in an academic degree program is important, when it comes to navigating through the world of business, it’s how you apply that learning that counts. Perhaps this is one reason why MBA programs are open to individuals of all educational backgrounds.

Multiple Paths to an MBA
When it comes to applying for an MBA program, there is no single path that determines acceptance, and each school has different ideas about appropriate academic preparation. Minimum qualifications for students applying to MBA programs can vary, but a bachelor’s degree is always a requirement for acceptance. Business schools take many things into consideration when it comes to who qualifies for enrollment into their MBA programs. There are schools that favor applicants who majored in a technical field such as science or engineering, while others may prefer a student with a liberal arts major, such as English, philosophy or a foreign language. Still others may look for applicants who had a career-oriented major such as consumer merchandising, journalism or advertising. Many programs prefer applicants who have already begun careers and have some professional work experience. Still, given the versatility of an MBA program, it may not matter at all what your major was in college as long as you received a broad, well-rounded education in which you developed quantitative and analytical skills. Some schools may not consider students’ previous education so much as their GMAT (Graduate Management Admission Test) scores. This standardized examination is used to measure aptitude and predict applicants’ potential for success in a management education program.

Catching Up to Business Majors
Applicants with an undergraduate degree in a business-related field are more likely to have completed the necessary course prerequisites than non-business majors, sparing them from having to take additional classes before they can begin an MBA program. Such courses may include mathematics, statistics, economics, finance, accounting, marketing and management. Prerequisite requirements ensure that students are adequately prepared for and possess the basic business skills necessary to succeed in an MBA program.

Diversity in MBA Education
The MBA is often referred to as one of the most versatile degrees because it can be applied to many fields and pursued by people with various backgrounds. Diversity is a key characteristic of MBA student populations. A study conducted by the U.S. Department of Education found that MBA students in the United States were the most diverse of all those in graduate programs. MBA students come from all walks of life, professional experiences and educational backgrounds. They choose to obtain an MBA for a variety of reasons as well.

First, an MBA program can provide people with essential leadership, organizational and management skills relevant to all professions. It can make them better managers, directors, executives and business owners, as well as give them that extra credential needed to be promoted to lucrative positions. According to College Board’s Education Pays 2010, professional degree holders such as MBAs had median annual earnings of $100,000 compared with $67,300 for those with a master’s and $55,700 for those with a bachelor’s. No matter what your background, you can put it to good use in an MBA program. The world of business is full of industries, fields, products and services that need professional experts. The varied backgrounds of MBA degree holders are beneficial as each person offers something different regarding ideas, plans, strategies and ventures. So an MBA might be right for you even if you don’t have an undergraduate business degree.

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Getting Into a Program With the GMAT
The Graduate Management Admission Test (GMAT) is a standardized examination that is used by business schools, including online ones, to assess applicants. It is designed to measure analytical, verbal, writing and mathematical skills, which are not quickly or easily obtained but rather developed over time through education and work experience. Given its design, the GMAT is used as a predictor of academic performance and ability to be successful in the advanced study of business and management, as well as a realistic indicator of present and future ability in management positions.

Why the GMAT?
No two people are alike and neither are their educational backgrounds, employment history or career potential. All of these variations can make it difficult for admissions departments to compare and select appropriate applicants for their online MBA programs. Considering this challenge, admissions departments need at least one form of assessment that is the same for every candidate, hence the need for the GMAT. More than 1,500 institutions in 83 countries use the GMAT as part of the selection criteria for more than 4,800 programs, according to the

Graduate Management Admission Council. Even though no candidate is admitted into an MBA program on GMAT scores alone, those who score higher on this exam do increase their likelihood of acceptance into highly competitive schools.

How the GMAT Works
The GMAT is separated into three main parts: analytical writing; quantitative; and verbal. The first is made up of two writing tasks, the Analysis of an Issue and Analysis of an Argument. During these tasks you must analyze an issue, explain your point of view on an issue, analyze the reasoning behind an argument and critique that argument. This section is designed to evaluate your analytical thinking about issues and arguments, as well as measure your ability to explore issues and formulate critiques. The quantitative section consists of multiple choice questions pertaining to data sufficiency and problem solving. The data questions will require you to analyze a quantitative problem, determine relevant information and decide whether there is sufficient information to solve a problem. Problem solving questions test your mathematical skills, comprehension of mathematical concepts and ability to reason. The verbal part features multiple choice questions testing reading comprehension, critical reasoning and sentence correction. You will have to read selected material and then answer interpretive, applied and inferential questions about it. Critical reasoning questions will require you to use your reasoning abilities concerning the creation and evaluation of arguments and plans of action. You will also have the chance to demonstrate your language proficiency as you are tested on English style and grammar.

Preparing for the GMAT
The purpose of the GMAT is not to assess your business knowledge, job skills, undergraduate education or understanding of a specific subject, so preparing for it can be a little tricky. It is recommended that prospective test takers begin preparing for the GMAT about three to six months beforehand. This can be done in several ways: on your own, with a group or a combination of both. A highly disciplined person may be able to study for the GMAT completely on his or her own, but somebody who gets easily distracted may want to consider a prep course with group study. As there are no specific subjects to study or theories and terms to memorize, the best way to prepare for the GMAT is to make sure that you are familiar with the exam and what it will require of you. First, it’s important to understand the format as the more comfortable you are with it the more likely you are to perform well. There are many resources available from the Graduate Management Admission Council that can help you become more familiar with the GMAT such as GMATPrep software, which simulates the test taking experience and official GMAT review guides, which can help you better understand each exam section with questions, answers and explanations. Second, it may help to work with a tutor or course instructor who is knowledgeable about the GMAT. Preparation courses are available from organizations such as The Princeton Review, Kaplan, Veritas Prep and Manhattan GMAT. These types of courses typically go over information and concepts that will appear on the GMAT, help test takers identify the areas that

they need to improve on and distribute customizable homework to boost results on those sections. Those who are interested in enrolling in a prep class from one of these organizations may want to check out GMAT Test Prep: A User’s Guide from Bloomberg Businessweek to see which one may be worth their time and money.

Taking the GMAT
It is recommended that MBA program hopefuls take the GMAT about a year before they plan to enroll. The GMAT is offered year-round and administered at testing centers worldwide. Although availability depends on the test center of your choice, most have flexible scheduling and offer multiple time slots throughout the week. The Graduate Management Admission Council can help you find a convenient test center. The GMAT can be taken up to five times but only once per month, so taking it well before you plan on beginning an MBA program can be beneficial in case your first score is unsatisfactory. Unofficial reports for verbal, quantitative and total scores are available immediately after the exam, which can help you then determine whether you would like to retake it. Official score reports are available online within 20 days of your test date, which can then be accessed by you and the MBA programs you’ve requested receive them. As a result, it is important that you take the GMAT in plenty of time to have the scores sent out before application deadlines.

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Getting Into a Program Without the GMAT
Although for years the GMAT has been a staple in the MBA application process, there are more and more business schools, many top ranked, that are beginning to rely less on the exam. In the United States alone, about 1,300 institutions either require or accept the GMAT as a part of their admissions process for business programs, according to the Graduate Management Admission Council. But this leaves an increasing number of institutions that are pursuing alternative criteria. Some schools are no longer requiring that students submit their scores, although if they want to they can, while others are waiving the requirement depending on the applicant, and some schools have even taken it off of their admissions criteria list entirely.

Prioritizing Other Factors Over the GMAT
Along with the business schools that are no longer requiring the GMAT, there are also many choosing to waive the GMAT for certain applicants depending on factors such as undergraduate GPA or work experience. Some schools are also waiving the GMAT requirement for applicants with Graduate Record Examination (GRE) scores or accepting them in place of GMAT ones. Admissions officers are doing this to encourage the not-so-typical student to pursue a business education as there is a need for a more diverse applicant pool. The GRE is the standardized test that those applying to traditional graduate school are required to take. It gives the admissions department insight into applicants’ reasoning, analytical and critical-thinking skills. And similar to the GMAT, the GRE evaluates academic abilities such as analytical writing, and verbal and quantitative reasoning.

Schools That Don’t Require the GMAT
U.S. News & World Report recently published a list of schools that are accepting GRE scores for admission into their MBA programs. It includes many top ranked institutions such as Stanford University, Harvard University, Dartmouth College, Columbia University, New York University, Yale University, Duke University and the Wharton School at the University of Pennsylvania. There are several business schools that are beginning to remove the GMAT from admission criteria because of the belief that it might not be the best indication of applicants’ strengths. For experienced professionals, some schools are instead requiring that they enroll in a review course to sharpen their quantitative skills rather than making them go through the GMAT testing process. Some types of MBA programs, such as the Executive MBA, attract applicants with more than a decade of professional business experience. In those cases, an increasing number of business schools are arguing that applicants’ career accomplishments and work experience in executive positions are better indicators of degree program success than GMAT scores.

What Not Taking the GMAT Means for You
Not taking the GMAT can affect students in several ways. First, it can severely limit the number of business schools to which they are eligible to apply. Although many schools are also accepting the GRE and others are forgoing the GMAT entirely, this standardized examination still remains one of the most commonly used criteria in which to determine aptitude for business management education. Second, just because some schools are GMAT optional doesn’t mean that not submitting scores is always the best option. Those who have been working a substantial amount of time are going to have less to prove when it comes to their analytical and quantitative abilities. In other words, solid and extensive work experience is most likely going to outweigh a numerical score. This may also apply to applicants with a string of particularly lofty executive titles. If your resume is neither long nor impressive, not taking the GMAT can hurt your chances of admittance as there will be little to go on concerning your aptitude, skills and abilities. In short, a good GMAT score can help round out your application packet, verify your potential and make you a more attractive candidate. There are many business schools—public and private—that don’t find it necessary to assess MBA program applicants using their GMAT scores. According to Businessweek’s Business

School Comparator, four of the 30 full-time MBA programs at top ranked and top tier business schools in the United States don’t require the GMAT (the University of Michigan, University of Virginia, University of North Carolina at Chapel Hill and Yale University). For online MBA programs, 11 out of 40 unranked schools do not require the GMAT including Babson College, Syracuse University, Pace University, Colorado State University, Northeastern University, Saint Joseph’s University, University of St. Thomas and the University of Scranton. Also included are a few institutions known for their offerings in online education such as DeVry University, Walden University and Webster University. Out of 190 schools with part-time MBA programs, 15 do not require the GMAT for admission. Included in that group are such private institutions as Loyola University Maryland, Sacred Heart University, Saint Xavier University, St. John Fisher College and Washington University in St. Louis. Many well-known public institutions also do not require the GMAT for part-time programs including Purdue University, University of Michigan, Colorado State University, Ohio University, University of New Mexico and the University of Illinois at Urbana-Champaign. Also included are several universities that are known for distance education such as the University of Maryland University College, Webster University and DeVry University.

Specialty MBA Degrees
In addition to a standard MBA program, you may have the choice of a highly targeted program known as a specialty MBA. Specialty MBA programs have very specific focuses. For example:
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Master of Computational Finance Master of Industrial Administration Master of Health Care/Hospital Administration Master of Public Accountancy

While specialty programs offer training as it relates to a specific field, they do not generally offer the same management training and background that a traditional MBA does. There are some areas of business that may be very difficult or impossible to pursue without targeted training. If you are pursuing a career in one of these fields, you may find that rather than a standard MBA, the specialty MBA may be better for you.

One-Year, Full-Time MBA
The full-time, one-year MBA program is significantly different from the two-year program. There are usually very stringent requirements for admission, both in academic training and/or work history. The one-year program typically lasts for eleven to sixteen months and is abbreviated by minimizing the time spent studying in core classes or by limiting your choice of specializations. Because school is considered your first priority, students will not work full-time in this program. Often attending a one-year program that fits your specific needs will require relocating to another city.

Especially when it comes to career enhancement or positioning oneself for advancement within the same industry, the one-year full-time MBA program can offer many advantages.
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Utilizing your existing industry and job skills in a highly specialized MBA program can save you a significant amount of time in completing your MBA. If the MBA program reduces core requirements instead of electives to reduce program duration, you can customize your studies to suit your specific needs. The focused learning environment encourages knowledge and skill development above and beyond normal classroom learning. Program intensity and competitiveness can be high and encourage achievement. The full-time intensive environment aids in forming lasting relationships with other MBA students in your specialization. The full-time program typically includes extensive career placement and counseling services, professional groups or clubs, and professional industry guest speakers.

Disadvantages of the One-Year, Full-Time MBA There are some limitations that should be considered in a one-year, intensive program.
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Opportunities for internship can be severely limited as there is no break between semesters. This can be especially limiting for people planning to change careers. A one-year program may not be considered a favorable option by some employers who require MBAs for career advancement or promotions. Make certain that your potential employer will accept this type of MBA program before you decide to enroll.

Two-Year, Full-Time MBA
A two-year MBA program typically consists of four semesters. The classes are taken over the course of two academic years. Many students take a three to four month internship between academic years. During the first year, students take the core courses that are required for all MBA students. During the second academic year, students will take elective courses that allow for specialization in specific areas of interest. During the two-year MBA program, school is considered the student’s first priority and most students do not work full-time. Many students relocate to attend the school of their choosing. Full-time two-year MBA programs can be ideal both for people who are changing careers and for people who are looking to further their potential in the same field or industry. The chance to gain knowledge in a specific area can lead to increased job skill, performance, and opportunities. Specialized study can especially help early in your career to allow you to progress more effectively and at a higher level. Advantages of a 2-year MBA
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Electives and concentrated study allow you to customize coursework. As long as you meet the basic undergraduate requirements, these programs can accept the greatest variety of academic backgrounds.

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Internships and a varied learning environment can encourage development of new skills and resume enhancement beyond what you might get in the classroom. Breaks between the academic years can give you time for networking. Taking core classes together with the same group of students can allow you to build a network of MBA colleagues and develop lasting contacts and business relationships. Many full-time MBA programs have career placement and counseling services, professional groups or clubs, and professional guest speakers.

Disadvantages of a 2-year MBA This type of program is designed for people who have well-defined career objectives and have the resources to spend a their time devoted to study instead of work. If you do not have this sort of financial or situational backing, a full-time MBA program may be difficult to undertake. Without a focused mindset, you may limit yourself in what value and return on investment you can gain from the program. The full-time two-year MBA program can be very time and money intensive. If you are considering this type of program, it would be wise to have a good handle on your goals and plan for the future and be committed to allocating the needed resources towards following that plan.