The Master of Business Administration is a postgraduate that is internationally recognized as a business management qualification. But it is more than an academic degree. A good MBA is preparation for business management involving a combination of practical training and theoretical learning. What managers, executives and other types of business professionals are being prepared for are the complex managerial tasks which may sometimes need non-standard solutions for them to succeed in the highly competitive business environment of today.
In the 19th century the Harvard MBA program in the United States pioneered the concept of professional business training. Despite its age though, the MBA is a dynamic, modern, innovative and future-oriented program. The MBA has a unique result-focused and interdisciplinary approach, which makes it popular among the worldwide business establishment. It is not seen as just a degree, it is more of a lifestyle and a philosophy.
Some people, particularly those tasked with recruiting for companies in the UK , seem to lump the MBA with other academic degrees. But they need to be a lot more open-minded about that. Unlike other postgraduate degrees like a specialized Masters, the MBA is actually a generic program allowing for a high amount of flexibility. The curriculum has some core components, which ensures a uniform approach with every student learning essential managerial knowledge which can then be applied to a wide range of business situations.
The core component of the MBA features courses in finance, economics, accounting, marketing, organizational behaviour, operational management (logistics), business law, information management and technology and human resource management amongst others.
The elective component of the course allows students the freedom to select the courses that particularly interest them. Thus you have the core courses to address the needs of every manager then the elective courses which address the individual’s professional needs. Different programs offer different electives, but you should find that each course will focus either on a particular aspect of business administration, or a region in the world, or a particular industry. Thus a student may be choosing from e-commerce, entrepreneurship, business in Europe, derivatives, business and the environment, and many others.
The learning method of the MBA also distinguishes it from traditional academic programs. The method is one where individual competition and team-work are combined amongst a course with academic theory complemented by real-life problem solving using practical business case study. Interaction amongst students is informal as well as formal, with creative thinking encouraged. Leadership potential is promoted whilst not forgetting the importance of corporate ethics and team spirit.
An MBA course sees students coming from different cultural and professional backgrounds coming together to share experiences and expertise in a highly stimulating learning environment.