What Is An MBA?
An MBA, or master of business administration, sharpens the skills of aspiring managers and business professionals. The MBA dates back to the early 20th century. As the nation was becoming increasingly industrialized, companies were in need of professionals with strong management skills to lead administrative operations and corporate initiatives in the workforce.
Since its introduction to industrial America, the MBA has evolved into a diverse and comprehensive program for professionals in all areas of business and commerce. Today, the degree is meant to broaden students’ conceptual skills in critical thinking, leadership, communication, strategy, problem-solving, and decision making while also allowing them to pursue a particular concentration or forge their own path as an entrepreneur.
Many schools offer concentrations in popular areas of business administration to help students strengthen specialized career skills and lead certain types of organizations.
Often considered a stepping stone to C-suite jobs at large corporations, the MBA degree is a very useful asset for entrepreneurs. It’s a degree listed on the resumes of numerous Fortune 500 executives. This includes general managers, vice presidents, presidents and CEOs, among others. Just keep in mind that the degree alone does not get you one of these executive jobs. You also have to work hard, show effort, creativity, good judgment, results and that you are ethical.
Today the global business world changes rapidly and the MBA ranks among the most popular professional degrees around the world. Good MBA programs blend a combination of advanced skills with practical, real-world experience to prepare MBA graduates to hit the ground running. These graduates will have enhanced skills in areas such as leadership, management, decision marking, communications, and strategy that are applicable for virtually any field they choose.
Employers prefer to hire and promote MBAs because of the breadth and depth of their professional skills, their networks, and their ability to be successful. I would never have been as successful in my corporate career without having the MBA degree and the enhanced skills I came away with upon graduation.
For small companies and large companies alike, business professionals with MBA degrees are essential to drive their teams, their business, and ultimately their performance.
Most MBA candidates are corporate employees who want to jump-start their careers, or entrepreneurs looking to understand how to be successful at starting and growing businesses. Most MBA graduates stop school after receiving their degree. However, those who are interested in conducting business research, or in teaching at the university level, may elect to pursue a doctorate in business or management. Such students can earn either a Ph.D. or a Doctor of Business Administration degree, commonly known as a DBA. In the world of academia, these are referred to as “terminal degrees” in business.
As mentioned earlier, many schools offer MBA concentrations in popular areas of business administration to help students strengthen specialized career skills. The more popular concentrations include leadership, organizational development, finance, operations management, project management, and marketing. During an MBA program, students learn from business professionals who chose to become faculty.
These MBA faculty members bring their real-world experience, perspectives, and stories to the classroom, thus enhancing the MBA experience with their practical knowledge. MBA programs can typically be completed in about two years, although this will vary depending on the business school and the number of classes you take per semester. You will sometimes hear the term Executive MBA, which is nothing more than a name for a part-time program where the students are typically working full-time and attending school while maintaining their full-time job.
An MBA degree can be earned by attending a business school in-person, hybrid, or online. We will talk about the difference between these three delivery methods in a future article. Whichever delivery method you choose, a solid MBA degree prepares you to be successful in the always-changing world of global business. Your newly acquired skills in areas such as leadership, problem-solving, strategy, and effective communications will make you a strong managerial candidate in any industry or business.
In the next MBA Life blog article, I will be writing about “Why Get an MBA?” Until then, feel free to email me with any questions about the MBA degree, or questions about our MBA program at Lourdes University – firstname.lastname@example.org, Andy Singer.