MBA stands for Masters of Business Administration, and is a post graduate degree in business. In today’s business field the most well liked degree is of MBA. It has achieved worldwide recognition. It is also one of the most sought after degrees in the world because of its value to people in business and administration. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. MBA degree can benefit those in positions in business and management, especially those in executive and managerial positions. MBA degree from a leading institution has great value. There are thousands of students from various countries who come to the US for the sole purpose of pursuing an MBA degree. MBA degree teaches students the nuances about business techniques, management techniques, leadership skills and all about management.
MBA offers many specializations few of them are Finance, Marketing, Human Resource, Health Care Operations, and many more. Business schools in many countries offer MBA programs tailored to full-time, part-time, executive, and distance MBA, with specialized concentrations. An MBA degree involves rigorous training, assignments, presentations, reports, all of which gives student the necessary abilities to handle real-life business situations. These days’ students can study for a wide range of MBA programs from the general MBA to a choice of MBA programs with various specialized focus.
Generally the MBA degrees are for duration of two years. In the first year the major breadth of subjects is covered and in the second year students are given an opportunity to specialize in the subject of their choice. As a part of the degree program, students are also exposed to the international business scenario. It attracts individuals from a variety of academic domains aspiring for a leap in their careers. MBA degree goes a long way in helping students develop business expertise and start their own business. Although, MBA is not a prerequisite in being a business entrepreneur, it definitely provides an added advantage to the business. It equips students with entrepreneurial skills and gives them a deep knowledge of business operations in the corporate world.
An admission for MBA is very competitive and also time consuming. A student needs to plan well in advance for the applications to the Universities of their choice. The application procedure should be carefully completed with all requested information. Application should be started 9 to 10 months prior to the intake. Each University has application fees. Academic undergraduate and graduate performance, GMAT and TOEFL test scores, length and quality of work experience, career goals, other school specific requirements—should match the average profiles and public information that each school provides in order for students to be competitive. The tuition fee is different for different universities and varies widely with courses.
- University of Pennsylvania (Wharton).
- University of Chicago.
- Purdue University Krannert School.
- Harvard Business School
- University of Michigan
- Massachusetts Institute of Technology (Sloan)
- Northwestern (Kellogg)
- New York University (Stern).
- University of California–Berkeley (Haas).