You're ready to become a leader and rise to the next level in business. A master's degree in business administration is the step you need to take you further in your professional career and potentially earn a higher salary. A reputable online MBA degree program can be the difference-maker for your future by helping you understand business practices and management skills. This master's in business administration is focused on equipping you with skills and credentials that helps distinguish your value in the business world.
Problem-solving leaders are required in every industry, and strategic thinking is necessary at every successful company. If you're ready to broaden your business knowledge and advance your career, WGU's MBA program online can prepare you to be an effective leader and produce successful results wherever you go. Your business management career starts here!Our 5,300-plus MBA grads have great jobs and satisfying careers.
An MBA gives you additional skills and training that can help you progress in your career. You'll learn about strategy, communication, management, and leadership that will help you move into larger roles in an organization. An MBA trains you to become a business leader in many different kinds of industries.
Yes. With the growing prevalence and availability of online MBA programs, curriculum and acceptance criteria have become more rigorous. As higher education has moved increasingly to online formats, more employers are respecting online MBAs and finding online MBA grads to possess the skills necessary to add value to their business.
A Master of Business Administration (MBA; also Master in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, strategic management, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy. It originated in the United States in the early 20th century when the country industrialized and companies sought scientific management.
The first school of business in the United States was The Wharton School of the University of Pennsylvania established in 1881 through a donation from Joseph Wharton. In 1900, the Tuck School of Business was founded at Dartmouth College conferring the first advanced degree in business, specifically, a Master of Science in Commerce, the predecessor to the MBA.
MBA dual degree programs combine an MBA with others (such as an MS, MA, MEng, or a JD, etc.) to let students cut costs (dual programs usually cost less than pursuing two degrees separately), save time on education and to tailor the business education courses to their needs. This is generally achieved by allowing core courses of one program to count as electives in the other. Some business schools offer programs in which students can earn both a bachelor's degree in business administration and an MBA in five years.
Mini-MBA is a term used by many non-profit and for-profit institutions to describe a training regimen focused on the fundamentals of business. In the past, Mini-MBA programs have typically been offered as non-credit bearing courses that require less than 100 hours of total learning. However, due to the criticisms of these certificates, many schools have now shifted their programs to offer courses for full credit so that they may be applied towards a complete traditional MBA degree. This is to allow students to verify business-related coursework for employment purposes and still allow the option to complete a full-time MBA degree program at a later period if they elect to do so.
The Graduate Management Admission Test (GMAT) is the most prominently used entrance exam for admissions into MBA programs. The Graduate Record Examination (GRE) is also accepted by almost all MBA programs in order to fulfill any entrance exam requirement they may have. Some schools do not weigh entrance exam scores as heavily as other criteria, and some programs do not require entrance exam scores for admission. In order to achieve a diverse class, business schools also consider the target male-female ratio and local-international student ratios. In rare cases, some MBA degrees do not require students to have an undergraduate degree and will accept significant management experience in lieu of an undergraduate degree. In the UK, for example, an HND (Higher National Diploma) or even HNC (Higher National Certificate) is acceptable in some programs.
For the business strategy component, the degree capstone, the focus is on finding competitive advantage and the long-term positioning and management of the entity as a whole. Here, the key functional areas are thus synthesized to an overall view; the strategy course depicts how the various sub-disciplines integrate to tell one continuous story, with each discipline complementing the others. Corresponding training in business leadership may also be scheduled and participation in a business simulation or game is also a common degree requirement. \"Strategy\" may be offered as a sequence of courses, beginning in the first part (formulation) and culminating in the second (execution), or as a single intensive course, offered during the second part. Some programs offer a specialization in \"strategy\", others in management consulting which substantially addresses the same issues.
Many MBA programs culminate in a comprehensive exit examination. The national standardized exam known as the Major Field Test for MBAs (MFT-MBA) has been administered in the MBA programs of over 300 U.S. universities. The MFT-MBA aims to assess skills, knowledge, and reasoning ability within the domain of standard MBA curriculum. It is administered by Educational Testing Service. Another prominent option for comprehensive exit exams is the Common Professional Component Comprehensive Exam for MBAs (CPC COMP Exam for MBAs) owned by Peregrine Academic Services. Many programs choose to administer their own in-house exam rather than a standardized test.
In 1957, INSEAD (French name \"Institut Européen d'Administration des Affaires\", or European Institute of Business Administration) became the first European university offering the MBA degree, followed by EDHEC Business School and Antwerp Management School in 1959 and ICADE in 1960 (who had started offering in 1956 a \"Technical Seminary for Business Administration\"), ESADE and IESE Business School (first two-year program in Europe) in 1964, UCD Smurfit Business School and Cranfield School of Management in 1964, Manchester Business School and London Business School in 1965, Trinity College Dublin, the Rotterdam School of Management in 1966, the Vlerick Business School in 1968 and in 1969 by the HEC School of Management (in French, the École des Hautes Études Commerciales) and the Institut d'Etudes Politiques de Paris. In 1972, Swiss business school IMEDE (now IMD) began offering a full-time MBA program, followed by IE Business School (in Spanish, Instituto de Empresas) in 1973, and AGH University of Science and Technology in Cracow, Poland in 1974. In 1991, IEDC-Bled School of Management became the first school in the ex-socialist bloc of the Central and Eastern to offer an MBA degree.
In Europe, the recent Bologna Accord established uniformity in three levels of higher education: Bachelor (three or four years), Masters (one or two years, in addition to three or four years for a Bachelor), and Doctorate (an additional three or four years after a Master). Students can acquire professional experience after their initial bachelor's degree at any European institution and later complete their masters in any other European institution via the European Credit Transfer and Accumulation System.
Accreditation standards are not uniform in Europe. Some countries have legal requirements for accreditation (e.g. most German states), in some, there is a legal requirement only for universities of a certain type (e.g. Austria), and others have no accreditation law at all. Even where there is no legal requirement, many business schools are accredited by independent bodies voluntarily to ensure quality standards.
In Austria, MBA programs of private universities have to be accredited by the Austrian Accreditation Council (Österreichischer Akkreditierungsrat). State-run universities have no accreditation requirements, however, some of them voluntarily undergo accreditation procedures by independent bodies. There are also MBA programs of non-academic business schools, who are entitled by the Austrian government to offer these programs until the end of 2012 (Lehrgang universitären Charakters). Some non-academic institutions cooperate with state-run universities to ensure the legality of their degrees.
In Finland, Master of Business Administration degrees are awarded by business schools of Aalto University, Hanken, University of Turku, University of Vaasa and University of Oulu. In Finnish this degree is called kauppatieteiden maisteri. Universities of applied sciences award degrees which in Finnish are called tradenomi (YAMK) but use the same English title \"Master of Business Administration\" as the ones awarded by business schools. Both degrees are recognized as higher education degrees in Finland, yet only the business school graduates are typically referred as \"masters\".
Germany was one of the last Western countries to adopt an MBA degree. In 1998, the Hochschulrahmengesetz (Higher Education Framework Act), a German federal law regulating higher education including the types of degrees offered, was modified to permit German universities to offer master's degrees. The traditional German degree in business administration was the Diplom in Betriebswirtschaft (Diplom-Kaufmann/Diplom-Kauffrau) but since 1999, bachelor's and master's degrees have gradually replaced the traditional degrees due to the Bologna process. Today most German business schools offer an MBA. Most German states require that MBA degrees have to be accredited by one of the six agencies officially recognized by the German Akkreditierungsrat (accreditation council), the German counterpart to the American CHEA. The busiest of these six agencies (with respect to MBA degrees) is the Foundation for International Business Administration Accreditation (FIBAA). All universities themselves have to be institutionally accredited by the state (staatlich anerkannt). 59ce067264