Whether you want to start your own business or intend to be a manager at any corporation, an MBA degree is a perfect fit for you. It will help you to enhance your knowledge, skills, and different approach to apply to a business.
An MBA program involves different courses such as courses and Management, Economics, Finance, Marketing, Strategy, and others.MBA is not about a particular subject; it is about the overall betterment of a student. Every course under MBA has its own unique features and benefits.
MBA courses are of different types, and before discussing the types of MBA, we will give you a brief description of this degree.
What is an MBA?
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The full form of MBA is Master of Business Administration and one of the most popular postgraduate programmes for graduates. This degree course offers many job opportunities in the corporate world with a handsome salary package. Students from any background like Science, Commerce, and Humanity can enroll for this course.
The time duration of this course is generally two years, but some private institutes offer a one-year Post Graduate Diploma in Management(PGCM). One can pursue this course in different modes like online, offline, Regular, Distance-Education. Furthermore, many institutes offer Post Graduate Diploma (PGD) and Postgraduate Programmes (PGP).
Types Of MBA Program-
Before enrolling for an MBA, it is vital to understand the types of MBA programs so that you can choose a course according to your choice. Once you have an idea of all types of programs, you can consult with the admissions representatives about which method you are suitable for.
1. Full-time MBA
It is one or two years of a full-time study program as students have to attend weekdays classes at the institutes and need to invest 12 or 24 months of their life in this program.
You cannot spend too much time traveling, additional work, or leisure activities.
This course is most common in North America. They invite students to involve in their studies and offer internships for their practical work. On the other hand, One year MBA programs are preferred in Europe. As everything needs to be taught within 12 months, therefore it is time-consuming. But internship opportunities are not there, but it does not indicate that they are out of the workforce for one year.
2. Part-time MBA
Those people who are working and are unable to pursue a full-time course they can choose part-time. It is also a full-time program, but the duration is over three or more years longer to complete the program. The plus point of this program is one can study during the evenings or over weekends along with the job.
3. Online MBA
Initially, online and distance learning MBA programs were not valued as offline as online students are missing from classroom debate and interaction with peers, but now many employers have realized the dedication and commitment an online MBA requires of a student. Today it is also recognized as a valued course like an offline course. Students can attain quality education as their comfort level in the online course as you can study from your home, so it requires high discipline and time management.
4. Accelerated MBA
This program is generally one year long, and the gap between the semesters and summer holidays is less. It is a variation on the two-year program in which students can get a higher course load and a more concentrated class schedule.
5. Distance learning MBA
In distance learning, a participant has to attend the class at some time during their studies. A distance learning student learns via interactive video, pre-recorded video, online, offline computer courses, and teleconferencing. The classes are usually held on weekends, at various times, and students have to organize meetings with their online classmates while attending classes.
6. Executive MBA (EMBA)
The EMBA program is given in a part-time module in 12 to 24 months that allows students to study along with their work. The programs are designed for the working people who cannot pursue the course due to their career. Participants need five years of work experience and ten years of total work experience on average. It is observed that EMBA participants are more mature than full-time MBA participants. Participants need approval from the employer to attend this course because they need support and financial assistance from the organization.
7. Global EMBA
It is also known as GEMBA and is a modular EMBA in which a student experiences a different classroom environment as well as the various countries and cultures meanwhile. These programs are more expensive and competitive. In this program, students have to deal with the workload and travel. By studying in different financial and business hubs in the entire world, students gain experience.
8. Joint EMBA
It includes multi-institution or Joint MBA programs like global EMBA. These programs make participants able to experience diverse teaching techniques and curriculum on different campuses. Two or a maximum of six partner institutions can deliver these programs.
9. Modular EMBA
This modular is comprehensive and requires participants to dive into the EMBA classroom for given periods, generally from one to two weeks or once every few months rather than weekly or fortnightly classes. This demands extensive hours of the employees, and some opt to invest their yearly or weeks of vacation to study.
As workload is high, participants must focus entirely on their qualification during this period, and some candidates also need to travel to another country depending on their accommodations for their modular EMBA. Time duration is over One or two years for this.
All these types of MBA are special and provide quality education to the students. By having an idea from these types, one can pursue their dream according to their profession.
Which type of program is best for the students?
If you are looking for an MBA program, you can choose one with the help of this article and your profession. You do not need to worry about the content and quality because these programs are designed regarding different professions but do not compromise quality. If you decided to join a business school, you want to choose the program that best fits you in terms of goals, experience, and the amount of time you can devote to it; read all the types of MBA carefully and decide on one
Some Special Courses under MBA
Let’s talk about a few special courses of MBA that the candidates can opt according to their calibre.
1. MBA Financial Management-
After doing graduation in Commerce, Science, and Humanity, those who intend to make financial management their career can pursue this course. It is one of the most preferred programs in MBA. Those students who opted for this course are willing to get excellence and groom leadership skills in Banking, Accounting, Corporate Financial Planning, Corporate Acquisitions, and others.
2. MBA in Marketing
Candidates who acquire Mathematical ability, Good communication skills, analytical and reasoning skills can go for this course to get skills in consumer behavior, Branding, Product Development, Advertising, and communication.
3. MBA in Human Resource Management (HRM)
Due to the rising issues in managing human resources in business corporations, the aspirant of MBA in HR is in demand nowadays for enhancing their skills to hire, manage and retain talent in these dynamic and challenging times. If you have a keen interest in a business’s human side, you can enroll in this course.
4. MBA in International Business
If you are interested in operations, international exports and imports you are suitable for this course because International Business is the backbone of economic growth. It gives a key understanding of the potential needed for international operations.
5. MBA in Business Analytics
The importance of this course is growing day by day because the demand for analyzing and demystifying big data is rising every year. It is one of the vital programs by IIMs in India. If you are interested in learning the ensuing management field and have analytical skills, you can go for this program.
This is not the end of the courses of MBA, a plethora of courses are offered under the MBA program that you can use for your future growth.
What are the benefits of MBA Programs?
A plethora of benefits are there to choose an MBA because it develops your skills and broadens your horizon. Let us name a few benefits of an MBA-
- Better time management
- Awareness of global market
- Effective communication skills
- Extensive professional network
- Offer jobs
- Improve self-confidence
- Make you disciplined and so on.
MBA is a better course if you want to make your career in the business field or not be afraid while taking risks. To present successfully in the corporate world, this is a mandatory course. Besides giving you the knowledge of every aspect of a business, it enhances your other skills. Search all types of MBA and set your goal by choosing a particular type that suits you better. This course brings many job opportunities for the doers. get the best business homework help online from our business homework help experts.
FAQ (Frequently Asked Questions)
When we are trying to do something new we come through many questions in our mind to take steps ahead. Lets answer some frequently asked questions regarding types of MBA.
What is the salary of an MBA aspirant?
The average salary of an MBA graduate is 290,000 INR. for fresher in India however for experienced person it jumps to 390,000 and more.
What is the best place to pursue an MBA?
If you want to enroll in India then you should try for IIM (Indian Institute of Management) located in different cities. On the other hand If you want to study abroad then you should choose the USA, UK, Canada and Australia for effective learning.
What specialization course should I choose in my management course?
MBA in Finance, Human Resources and Information Technology are the trending and most preferred courses to associate with. If you are interested in any other specific course you can go for it because every area is important and has scope.
What type of MBA should i choose?
It entirely depends on you what types of MBA suits you. If you are a student and intend to study only then you can go for a full-time MBA however if you are an employee and do not have sufficient time to attend classes regularly then you can join part-time MBA.