What Does MBA Mean?

When it comes to data and statistics, according to one of the articles published on accessmba.com, MBA programs are certainly flourishing.

In February 2016, the number of accredited business schools, according to the oldest accreditation agency, the US-based Association to Advance Collegiate Schools of Business (AACSB) International, had reached 755 in 51 countries and territories worldwide.

In September 2015, 73 business schools around the world, of which 68.2% were in Europe, held the triple “crown” accreditation from the most sought after international accreditations: AACSB, AMBA, and EQUIS.

What does MBA mean?

MBA stands for Master of Business Administration. It is an advanced degree pursued by those who want to excel in business careers. To take up this program, one must earn a bachelor's degree in any field but preferably a business field. It takes about 2 years long to complete and offers semester credits of about 35 and above with courses such as accounting, operations management, finance, human resources, and management information systems. Also, interested students can take up additional courses and electives in the related field of study.

Gone are the days when people used to say, “ Jack of all trades and master of none.” In today's competitive world, MBA teaches you not only to be a Jack of all trades but instead to be a Master of all Business. MBA broadens your horizon, gives you a new perspective and widens your wings, and opens new doors for you in your professional career.

Types of MBA Programs

There are different types of MBAs. Traditionally and by definition, also a full-time MBA is a two years course. But various universities provide one year MBA. When it comes to types, we can say there can be two popular types.

• Executive MBA or Part-time MBA: These MBA programs means for working professionals who can't go for a full-time MBA due to their commitments towards the organization where they are working. However, an executive MBA or a Part-time MBA is always an open door for them.

• Regular MBA: Regular MBAs are full-time MBAs offering a course duration of 18 months to 2 years.

MBA: A boon to your professional career

Are you a software engineer who is stuck up in a career and has not received any promotion in the last few years? Or, are you a young gentleman or woman dreaming of doing something big in life and leading an extraordinary life, then, MBA is the option for you. Whatever career you might be in, when someone dreams of getting a high-rated and high-end professional job, then MBA is an option for you.

MBA: An Overall learning experience

Well, you must be wondering, “What is MBA all about?” “Is an MBA worth getting?” “What is so special in an MBA degree that everybody in the world is talking about it.” “Is an MBA worth investing your time and money in?”

So, the answers can be in different phases. The answer to the first question is Yes, an MBA is worth getting when you are looking for a big break or an entry in a big MNC with a higher designation and a handsome salary.

Secondly, yes, an MBA is worth getting when you prefer to do it from a credible A grade B-school. The specialty of the MBA is, it is a professional course. Unlike any other degree course, which focuses on classroom teaching and theoretical knowledge, MBA teaches you practical skills and gives you real-time experience and makes you industry-ready.

MBA is a rigorous course, which requires dedication and commitment. If you are serious about a lucrative career in the business world, then MBA is your gateway.

MBA: An all-round development in personality and knowledge building

When it comes to what an MBA program offers, the basic answer is it’s for all-round development. MBA teaches you, pushes you, and compels you to be the best version of yourself. MBA completely changes the personality of students after completion of course. MBAs have changed introverts to great communicators, public speakers, presenters after completing this course.

Throughout these two years, you get to learn a whole lot of things. You just don't get to learn the three essential business majors, i.e., Finance, Marketing, and HR, but also get to learn so many things that are the most happening topics or subjects in the industry.

For example, in HR, let’s say the most happening thing is “PsyCap(Psychological Capital),” or let’s say “Happiness at Workplace,” then you will get to study these topics. Let’s say, in marketing, “Digital marketing and SEO” are most happening, then you will get to consider this as well.

In Finance, you may get a chance to learn “Risk Management and capital” or “Behavioral Finance.”

MBA: A pathway to an elite and luxurious lifestyle

An MBA or a Master in Business Administration allows you to pursue the most lucrative of careers. In simpler terms, it is the gateway to the most dreamed, wished, and extraordinary lifestyle.

Most of the top-rated business persons like Elon Musk, Bill Gates, Mark Zukerberg, Indra Nooyi, and Sundar Pichai do hold an MBA degree. Thus, it won’t be wrong to term MBA as THE gateway or pathway to your dream career.

 

Top B-schools of US

Here are top business schools in the US

1. Stanford Graduate School of Business

 It was founded in 1925 by  Herbert Hoover. The school has approximately 400 students per year in its full-time two-year MBA program, which consider among the best in the world. In June 2006, the School announced a dramatic change to its curriculum model ("The Personalized MBA Education").

It aims to offer each student a highly customized experience by offering broader menus of course topics. The graduating class of 2009 was the first class having gone through the new curriculum.

The Stanford MSx Program is a full-time, one-year master's degree program for managers in mid-career. Fellows who complete the academic program awards the degree of Master of Science in Management. The program's principal objective is to help participants strengthen their capacity for organizational leadership.

The ideal MSx candidate is a senior manager who has had or will soon appoint to his or her first general management position.

2. Havard Business School, US

The school established in 1908. Initially created by the humanities faculty, it received independent status in 1910 and became a separate administrative unit in 1913.

It considers being one of the best B schools and a renowned institute all over the world. It has 233 academic staff, 1680 administrative staff, and 2011 MBA students. 

3. University of Pennsylvania, Watson, US

The Wharton School of the University of Pennsylvania, also known as Wharton Business School, The Wharton School or simply Wharton) is the business school of the University of Pennsylvania, a private Ivy League university in Philadelphia, Pennsylvania.

Established in 1881 through a donation from Joseph Wharton, the Wharton School is the world's oldest collegiate school of business. Wharton's MBA program is ranked No. 1 in the United States, according to Forbes and No. 1 in the United States, according to the 2020 U.S. News & World Report ranking.

It has 5063 students and 486 number of academic staff.

So, what are you waiting for? Pull your socks and get yourself admitted into the best b-school.

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• MBA vs. MHA