MBA is an academic degree that tends toward management and marketing including subjects such as Marketing, Supply Chain Management, Principles of Management, Operations Management, etc. The demands for MBA graduates are increasing geometrically to work with top organizations and earn a good salary. MBA Full Form is Masters in Business Administration.
MBA Course: Key Highlights
The course is suitable for students in Science, Humanities, and Commerce to earn an MBA degree.
- It takes two years to obtain an MBA degree and it is divided into four or six semesters. In some private institutions, it takes only a year especially when you are offering a Postgraduate diploma.
- There are various modes of studying MBA which are full-time, online, distance learning program, and part-time. Also, their MBA customized programs to offer candidates professional experience like executive MBA.
- Many management institutes have Post Graduation Diploma in Management, Post Graduate Diploma, or Post Graduate Programme in Management rather than MBA degrees.
- The most popular mode of MBA is full-time MBA which includes different learning patterns such as summer internships, practical projects, theory classes, students’ exchange programs, etc.
- Fresh graduates with some years of work experience can enroll for a full-time MBA degree. Some universities are searching for fresh graduates while others prefer admitting applicants with few years of work experience.
- The Executive MBA is for applicants with over five years of work experience designed to improve their leadership and managerial skills to be relevant in the job market.
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Why Studying MBA?
Many people are hoping to track fast their careers because of the high level of competition in the business world. You need to be well equipped with different managerial skills to contribute your skills to a reputable organization. If you become an expert in business-related fields, you will be a hot cake in the labor market. These are the various reasons for studying MBA:
- Developing Industry Network
- Better Career Opportunities
- Global Exposure to Business and Economy
- Develop Management Skills
- Entrepreneurial Skill Development
- Develop Leadership Qualities
- Higher Salary
Essential Skills for MBA
There are important skills you need to possess while studying MBA degree. You can see some of these skills here:
- Good communication skills
- Strong mathematical skills
- Problem-solving Skills
- Leadership qualities
- Management skills
- Research-oriented
- Eye for detail
- Analytical thinking
What are the Criteria for MBA?
There are things to have before you will eligible to study this course:
- An undergraduate degree in any discipline from a reputable university
- Have a minimum score of 50% in your graduation score
- Proof completion degree
- Professional certifications such as CA/AICWAI/CS
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Different Types of MBA
MBA degree is available in diverse modes and many aspirants prefer a full-time MBA which happens to be two years. Presently, Online and Executive MBAs are gaining ground because the number of students applying for them has increased. Let’s get to see these different MBAs:
- Full-Time MBA:
It is the regular MBA that takes two years to complete and it is residential in the sense that it offers semester-wise assessment, final placements, live projects, summer internships, physical classes, final placements, etc.
- Part-Time MBA:
It is suited for working-class individuals because it is a non-residential program. These individuals can learn managerial skills to improve the quality of their jobs. When you are done with this program, there is nothing like internships or placement opportunities.
- Distance MBA:
This one is different from both part-time and full-time studies. The course is for students wanting to study from a remote location. The good thing about the course, it offers flexibility for you to carry on with other life activities. For instance, there are over 490 distance MBA colleges in India.
- Online MBA:
Lectures on online MBA are done via video conferencing, tests, notes, and test sharing. There is nothing like physical classes in any Online MBA because these videos are recorded and saved before being sent to the MBA students.
- Executive MBA:
The MBA program is for working professionals with over five years of experience in business administration or management. The curriculum is more similar to a full-time MBA degree but it has a shorter duration. This MBA degree is expensive and many companies sponsor their applicants.
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What are the Career Options after MBA Degree?
Many students offer an MBA degree to secure a job after completing their studies in diverse industries like Finance, Operations, Human Resources, etc. Some career paths for an MBA degree:
- Manager:
They are in charge of managing a team, organization, or department. Also, they work as the leader of any organization and supervises others.
- Sales Manager:
They are responsible for handling different kinds of tasks that happen in the sales process. Also, they try their best to ensure targets and profits are met.
- Marketing Manager:
They get involved in various tasks related to marketing like clients’ proposals, sales campaigns, marketing of different products, sales tasks, etc.
Top MBA Recruiters
In the job market, employers are searching for MBA graduates to fill vacant positions in their companies. Many MBA institutes offer campus placement die their students after completing a full-time MBA. Some of these top MBA companies or recruiters are:
- Citibank
- Reliance
- Larsen & Tubro
- JP Morgan Chase & Co.
- Vodafone
- Nestle
- Aditya Birla Group
- ICICI Bank
- Deloitte
Read also: List of MBA Scholarships in the USA to Consider
Frequently Asked Questions
Q: What is MBA?
A: It is a two-year postgraduate degree course in Business Administration and it imparts knowledge to individuals running an organization with skills such as business communication, operations management, marketing management, etc.
Q: What is MBA full form?
- The full meaning of MBA is Master of Business Administration
Q: What is the difference between MBA and PGDM?
A: After getting enrolled to study MBA course, you will get an MBA degree. On the other hand, when you study PGDM, you will bag a diploma degree.