MBA is the acronym for Master of Business Administration
What is studied?
Study a MBA allows you to specialize in the business management. Those who study it learn the capacities and the skills that any manager must have. It is usually provided to professionals in the area, and also includes a practice period so that the students can show what they have learned in a real business environment.
How was the Master of Business Administration created?
The MBA (Master of Business Administration) has its origin in the traditional post-graduate studies of American Universities, and the first one to provide this kind of formation was the Tuck Business School – Owned by the University of Darmouth – in the year 1900. The change in the organizations that was produced in the twentieth century provoked that the companies started demanding skills related to business management and not much to the physical work. Later on, it arrived in Europe at the hands of Great Britain.
Although they were born in the universities, currently the MBA are also provided in the business schools promoted by private estates, regional institutions, business groups… One of the keys to their success was the case method, which is based on “learning by doing”. In this kind of education, the students analyze a specific situation to learn from a topic, planning out actions and debating them in groups, connecting the theories with the practice.
What content does a MBA have?
The MBA program is designed to equip the future manager with the skills and knowledge in the functional areas that any person needs when managing a company: communication, financial management, strategic management, marketing, human resources and operations, between others.
The goal is that the student learns to manage a Company in a changing and very competitive environment, this is why he must know the internal functioning of an organization as well as the business environment where he is developing. Apart from learning the theory, he will also implement his knowledge through work and projects, individually as well as in groups, and analyzing real cases.
What requirements are needed to study a MBA?
since it is about a Master`s degree, it is a requirement to have a college degree to be able to access these studies. In occasions, some previous professional experience is requested, as it is the case of the Executive MBA, where it is a requirement to have 5 years in managing positions. The English level is also important, because some content is provided in this language. In the case of the International MBA it is a key requirement because this course is taken in different countries around the world.
Some Business Schools also request that the students have certain grades on the GMAT, an admission test for the MBA that measures the comprehension and writing skills through a test taken in English via PC, and that can be taken in various countries, lastly, it is also usual that the candidates have to overcome a personal interview to know if they have the adequate profile to take the MBA, or to write a motivational letter.
What types of MBA exist?
Currently, there are four different types of MBA: Full-Time MBA, Part-Time MBA, Executive MBA and the International MBA. We will explain to you their differences:
· Executive MBA:
It is addressed to the executives that wish to widen their formation in business at the same time they are working. The students must have college degree and a minimum experience of 2 to 5 years in management positions.
· Full-Time MBA:
The Full-Time MBA has a one-year length and they are usually taken In-person, which requires a complete dedication.
This Part-Time module or blended distinguishes for how the study hours are divided, it usually has a two-year length, which allows the students to combine the studies with their Jobs.
· International MBA:
The International MBA program is structured in a way that the formation and the practices in companies are done in different countries. For this reason, the access criteria are more rigorous, because the students must accredit an advanced level of languages because the course is usually taken in English.
What is a MBA useful for?
With a MBA the student acquires capabilities and skills needed to know how to manage a business. Moreover, the MBA includes practices in companies that allow the students to show their worth in a real environment and connect with professionals in the area.
The teachers’ team is integrated by active professionals of acknowledged prestige, with consolidated professional experience that allows them to pass on to their students the Know how and facilitates them the access to big companies. When studying a Master’s degree in Business Management the graduates have the opportunity to widen their contacts network, improve their position and professional trajectory, as well as the salary.
And specifically, the International MBA provides an added value, such as the knowledge and work in international environments. The students show their capacity to adapt to the changes, their high performance in different cultures, and the control of different languages, which turns them into the perfect candidates for the companies that have presence in different countries.
How to choose a MBA?
There are different keys that can work to help you choose the MBA that adapts the most to your needs. Valuing aspects such as the teaching method (Learning by doing) or investigate if it is possible to personalize according to the student’s availability, they are some advises that will turn out to be useful for you. Moreover, you must assess if you want to study the MBA in Spain or overseas. You will also be able to deliberate which are the best MBA worldwide in the different rankings that we will mention in the following epigraph.
· What is the best MBA?
Choosing only one MBA as the best in the world is practically impossible. Each year different posts of international prestige elaborate rankings with the best MBA in the world: the Forbes rankings, Financial Times, Top MBA and Top Universities or The Economist are led normally by the universities and Business Schools in the United States and Great Britain. Some Spanish Business Schools such as the IESE, IE or ESADE are usually found between the best ones worldwide.