The Master of Business Administration Degree
(MBA) is the most popular business qualification in the world, and
is fast becomming a prerequisite for management positions.
The MBA is by its nature a general management qualification. A
programme usually consists of a core curriculum covering the functional
areas of management, including information systems, finance and
accounting, and human resources, to name a few. The second stage
of the course is usually made up of a choice of electives (optional
courses), to allow the student to either continue with general studies
or to specialise in a particular subject or area. All this is taught
through a variety of means, for example, lectures, study groups
and case studies.
The qualification began in the US about 90 years ago. Today, well
over 1000 business schools, universities and other institutions
across the world offer the MBA, and these can differ vastly according
to tradition and background. There are also innumerable methods
of study, for example, full-time, part-time, modular and distance
learning. With this bewildering choice on offer, how can a potential
student decide which is the best programme for them?
Undertaking an MBA course is a large commitment both in terms of
time (full-time programmes run for one or two years) and money (good
quality courses cost in the region of œ15,000 to œ20,000).
Therefore, before selecting an MBA programme, it is important to
ask yourself why you are pursuing the qualification in the first
place.
The main reasons quoted by students for choosing to embark upon
this route of study are for an increase in salary; to open new career
opportunities; to further a career and to extend personal networks.
A good quality course will allow for all of these by developing
participants' personal skills at the same time as extending their
knowledge base in the general management disciplines in the context
of global business. The MBA is an educational course, and as such
should challenge students' assumptions and attitudes. Furthermore,
knowledge accrued on the course should be highly transferable to
the world of work. The courses which achieve this most effectively
bring together top quality faculty with students from a variety
of backgrounds who possess a wealth of experience and ambition (at
Cranfield, for example, students on the full-time programme have
an average of nine years' business experience). The combination
produces the best possible educational experience which broadens
horizons and equips the individual to embrace challenge and change
in the future.
Each individual will have their own personal circumstances and
requirements, but as an initial guide, this simple checklist of
points to consider may assist when embarking on choosing an institution
and programme:
Is the institution accredited by a national or international
body?
In the case of UK schools, the relevant body is the Association
of MBAs (AMBA). The American Assembly of Collegiate Schools of Business
(AACSB) is the US accrediting body. Also, what is the research rating
and teaching quality of the MBA? Many countries have independent
assessments of research and teaching quality. In England, the latter
is assessed by the Higher Education Funding Council for England
(HEFCE).
How many full-time faculty does the institution employ,
and is it large enough to sustain a varied programme?
How many teaching hours does the programme include?
UK courses can range from 28 to 42 taught weeks, so make sure you
are getting value for money.
What is the size of the course?
Bear in mind that larger courses have the potential of bringing
you into contact with more people and therefore extending your network.
What is the learning environment - is it competitive or
collaborative? Is teaching and learning technology incorporated
into the programme?
Some courses, for example, offer group software such as Lotus Notes
for study support.
What is the cost of the programme?
You will also need to look beyond the course itself to consider
if it really will enhance your career prospects. Find out what the
reputation of the MBA is with recruiters. Do multi-national companies
and consultancies recruit at the institution?
How extensive is the network of alumni or past students,
and do they actively support the programme?
This is just a sample of questions that you need to answer. Some
of the information you will require can be found in guides to MBAs
and business schools. For detail on individual institutions, consult
their course brochures. At the same time, you should also talk to
friends and colleagues who have completed an MBA for their impressions.
Once you have arrived at a shortlist of schools, if at all possible
you should visit them. This may not be necessary if you are considering
a distance learning programme, however, if you are going to spend
a significant amount of time at the place of study you need to see
what it is like for yourself. Schools will be more than happy to
see you and you will be able to ask all your questions direct. Ask
to sit in on a lecture and see the dynamics of the class for yourself.
Then at the end of the day, ask yourself if were you stimulated
and excited by what you saw.
Remember, an MBA is more than a brand name - it is an experience
of a lifetime - so choose wisely, and good luck!
Author: Martyn Jones, Cranfield School of Management U.K
