What is an MBA or Master in Business Administration?
A Master of Business Administration, or MBA, is a postgraduate program that teaches skills to manage, lead and start businesses. Obtaining an MBA allows you to transform your professional career, expand your network and create new opportunities.
What does an MBA mean? What can it do to your career? Discover everything you need to know about what an MBA is and how it can boost your professional career
Higher education in the USA is divided into three cycles: university career, second cycle or postgraduate, and third cycle or doctorate. Each university can apply a vocabulary to the postgraduate programs within the second cycle.
The purpose of the master’s degree is for each student to acquire advanced, specialized, or multidisciplinary training in a field of study. The training is aimed at academic or professional specialization. Still, it also serves as a path to start a career as a researcher that will be developed in a doctoral program. In general, master’s degrees deal with one or more disciplines with a broad focus to accommodate students from different undergraduate degrees but with content that allows them to finish their studies as specialists in the area.
Master’s degrees can be completed in one or two years, depending on the credits involved in the academic program, and require the presentation of a final research project to consider the stage closed and passed. To access a master’s degree, the student must have a university degree or equivalent.
How is a Master’s Degree Different from an MBA?
MBA is the acronym for Master of Business Administration, and with which the Master of Business Administration and Management is popularly known. The difference between a master’s degree and an MBA is that the latter is a specific type of master’s degree within the wide catalogue of postgraduate degrees.
The MBA program focuses on studying business processes and training students in strategic and managerial skills for managing an entity. As with the rest of the master’s degrees, there is the possibility of taking an official or own MBA, depending on the university centre or business school that teaches it. The difference is important because only the official permits subsequent access to a doctoral program.
Master’s vs. MBA: Which one to choose?
As we pointed out earlier, the main difference between an MBA and other master’s degrees lies in the branch of specialization. Therefore, the best way to choose the master’s degree that best suits each one plans to define and evaluate work objectives and seek the training that best completes it. In addition, today, technology allows these types of studies to be taken at a distance and online, a route that makes specialization compatible with work and personal life.
What is an MBA, and Who takes it?
The Master in Business Administration or Master of Business Administration is a postgraduate program in business that prepares students to direct, lead and undertake. It is ideal for those who wish to assume leadership or managerial roles within an organization and find new opportunities to make a professional change or start their own business.
The MBA provides knowledge in management, marketing, finance, economics, and operations and develops leadership, teamwork, negotiation, and entrepreneurship skills, among others. Those who take an MBA are graduates of undergraduate degrees, both in business and in other disciplines such as Architecture, Law, Engineering, and Journalism, among many others. These people usually have several years of professional experience and want to advance their careers.
One of the main characteristics of the MBA is the diversity of profiles and professional objectives of its students. Once they have achieved the title, they stand out professionally as leaders, referents, innovators, and project creators. This is so since MBA UP graduates are both prepared to undertake and have a successful career in the corporate world, being highly demanded in leadership positions.
What is the Difference Between a Master’s, Postgraduate, and MBA?
First of all, postgraduate is called an academic title after the degree. In other words, both a master’s degree and an MBA are considered postgraduate degrees since they require a previous degree.
Master: The Masters or Masters deepen knowledge in a specific area. They develop the skills and tools to exercise said profession or specialty. They usually have two years, and the curricular structure covers both theoretical and practical content.
MBA: The acronym MBA stands for Master in Business Administration, a Master’s Degree in Business Administration. It is a Master’s focused on the development of knowledge and skills to direct, lead, and manage companies and start new businesses.
Some Positions Held by MBA graduates:
• Entrepreneur • CEO - Chief Executive Officer • General Manager - Director-General • CMO - Director de Marketing • CFO - Director of Finance • Director of operations • Strategy Director • Director of innovation and new business • Director of communication • Digital Business Director
Undoubtedly, a Master in Business Administration can make a difference in the profession and society with solid tools to discover opportunities, innovate, undertake and lead.
The knowledge acquired and the skills developed during the MBA allow, among others:
• Develop your own company. • Entrepreneurship leads all stages in creating a business, from the business idea to the development of the business plan and the management of the enterprise. • Lead the human resources of an organization. • Lead innovative, collaborative, and interdisciplinary teams. • Define the strategy of an organization and lead innovation and change. • Lead local and global companies. • Direct projects. • Lead the digital transformation. • Direct and plan the marketing. • Direct the operations of an organization. • Manage company finances. • Lead projects in the organization. • Master digital and analytics tools to obtain data and turn it into valuable information for decision making. • Generate a real impact in their communities and make a difference in society.
How is an MBA Completed?
The term MBA is already part of popular culture, most universities offer MBA programs, and it is a global standard for business education. However, there are different types of programs with particular characteristics. Here we list some of these features:
Course Modality: there are programs in face-to-face, online, and combined modalities (which allow courses to be taken in both online and face-to-face modalities). Although the standard duration is 2 years, some universities offer flexible programs where you can study in less time or study at a slower pace. The UP MBA offers the possibility of studying in the three modalities (face-to-face, online, or combining the two alternatives). Taking advantage of the possibility of time flexibility that allows balancing personal life with studies, each student chooses the modality that best suits their interests and needs.
Admission requirements: To gain access to an MBA, it is essential to have a bachelor’s degree from an accredited university and professional experience. Some colleges include admission interviews and letters, standardized tests, or letters of recommendation. The range of work experience before admission is from 3 years to 20. There is no “ideal” age to access a master’s degree in business: each student defines it according to their stage of professional development. In the UP, the first step to entering to study for the MBA is to complete an application form and then follow the admission requirements.
Generalist programs and orientations: the objective of an MBA is to provide business training to a very diverse group of students. Generally, the programs have a group of mandatory courses related to the functions of organizations (marketing, finance, operations, technology, among others), people management (leadership, teamwork, negotiation, oratory), and business strategy. In some programs, students can guide their studies and take elective courses in a discipline (marketing, digital business, information systems, international business) or an industry (agribusiness, hospitality, banking, retail management). The UP MBA curriculum is innovative, and each professional is prepared to undertake, create new businesses and lead innovative projects and teams. It allows you to choose between the following orientations: MBA in Marketing and Business Development, MBA in Startups and Digital Businesses, MBA in Strategic Management, MBA in Information Systems, MBA in University Management.
Teaching methodologies: there are business schools where professors are closely linked to the real world of business and use teaching methodologies based on real cases and simulations. Others opt for a body of professors oriented to research and consultancy. Much of the learning in an MBA lies in the interaction with peers (group work, case discussions, development of business plans). Programs with a greater diversity of professional profiles provide a better experience for all students.
Just as there is a great diversity of student profiles in an MBA, there are multiple alternatives when choosing. Doing an MBA is a unique and unrepeatable experience that will require a considerable investment in time and effort. Thinking carefully about when and where to do it is worth it.
Advantages and Disadvantages of Studying Online
The concept of e-learning has grown 900% since its appearance, and virtual education is fashionable in a world where professional reinvention is the order of the day. But, as with everything, it is important to know the advantages and disadvantages of studying online before facing such a challenge. If you are considering studying remotely, you may wonder how this teaching method works, its advantages over face-to-face training or the obstacles you may face in the digital world. We’ll tell you then.
What are the Advantages of online training?
Without borders, schedule, or calendar. Thanks to e-learning, you can access a wide academic offer, available 24 hours a day, seven days a week.
In addition, by overcoming physical barriers, the student only needs a device and an Internet connection to learn, which is a point in favor of people with reduced mobility or who live far from large urban centres.
Tele-training allows you to combine your studies with other daily activities (work, family, leisure time). By entering from any device and place, you will always have your notes with you.
Self-management of time
One of the main advantages of studying online is optimizing your time and organizing yourself according to your needs. The virtual platforms are open 24/7, so each student can choose how much time to dedicate to their training.
As they do not have a physical location, virtual campuses allow you to choose your favourite place of study. Whether at home, in the library, or in your favourite cafe. Choose your classroom.
Distance learning maintains the quality standards of face-to-face teaching. Each university has its way of guaranteeing quality studies.
Enrichment and joint work
The digital classroom allows you to establish connections with students from anywhere in the world. Thanks to the chats and virtual forums, you will be able to interact with them and with the teacher to exchange opinions, advice, and study recommendations.
By avoiding trips to the study centre or university, tele-training supports sustainability by reducing energy costs by up to 87% and producing 85% less CO2 on face-to-face campuses.
Disadvantages of studying online
Requires discipline and perseverance
Online training requires greater performance on the part of the student, so planning is key to having a regular dedication and a good work pace.
Studying online is not synonymous with learning alone. The educational platforms have conversation spaces (chats, forums), where students can interact with their classmates and trainers to express their doubts, resolve queries or raise debates around the subject studied.
Evaluate your options and choose the best solution for you
We have listed the advantages and disadvantages of studying online throughout the text. Among the pros of distance learning are:
- Its flexibility and accessibility.
- The ability to self-manage your time.
- Its teaching quality.
- The experience of having classmates of different ages and places of origin.
But, like everything in life, Tele training entails some difficulty. If you decide to commit to e-learning, you must be consistent and plan an appropriate pace for your studies to reach the goal successfully.
Once you have weighed the pros and cons, it is time to decide how you want to study. Ready to be an online student?
How to Get a Masters in Business Administration? : FAQ
What will you study when doing an MBA?
MBA programs are not designed to make you an expert in a particular area but rather to give you in-depth knowledge in various areas.
Is it worth studying for an MBA? Will it increase your salary? Will you get a better job?
Will your salary increase with an MBA?
Will an MBA improve your employment opportunities?
Should you study for an MBA?
You are or want to be in a managerial position. This can be in any industry, whether public or private. Many employees require an MBA to attain certain leadership or management positions.
Do you have or plan to open a business? As a small or large business owner, you need to know everything from accounting to marketing, and an MBA will give you this knowledge.
You are looking to improve your professional network. Many MBA graduates believe that much of the value of their MBA comes from the professional network they developed while studying. These graduates have reported that from their network of former MBA peers, they have gained new employment opportunities, expanded their professional networks, or started businesses together.
But, if you are not working in a managerial position, or just hoping to get a better job and earn more money, without having a concrete plan, then an MBA is not going to be of much use.
Suppose what you are looking for is to improve your skills, knowledge, and employability, but you will not be in managerial roles. In that case, you should reconsider a master’s degree with a specialization in your area of interest.
What are the most common entry requirements for an MBA?
2. Academic transcripts.
3. Results of language tests such as IELTS or TOEFL if the MBA is not in your native language.
4. Most also require you to submit your CV, a personal motivation letter, and reference letters.
5. Several MBA programs require a GMAT or GRE test.
How long does it take to study for an MBA?
Can I study for an MBA without a professional degree?
What are the results of studying for an MBA?
In addition, 93% of former students said they would study for an MBA again if they knew what they were currently doing.
Why MBA is the most popular postgraduate degree in the world?
Studying an MBA helps bring together everything you have learned in your work experience and raises your skills and knowledge strategically.
If you have already decided to study for an MBA, fill out the form below and ask about the 30% scholarships from Torrens University Australia. And if you know someone who might be interested in an MBA, share this article!