The MBA degree is, in many respects, in its very own category of degrees. MBA is an acronym for ˜Master of Business Administration” and, in contrast to a majority of Masters degrees, is entirely vocational in nature. A crucial feature of the MBA program is that it builds on the student’s previous experiences and traditionally requires a minimum of 2 – 5 years of work experience for admission to the program. This stands in stark contrast to most other Masters programs, which a student may take up immediately after their first degree, provided the first degree is in a relevant subject. The MBA thus becomes a supplementary qualification for those professionals seeking to secure leading positions in the upper echelons of management and most reputable MBA programs are geared to fulfil this goal. Focusing on a more practical approach to subject matters, the MBA program coveys a hands-on, real world business education for aspiring business leaders or, as Philip Broughton, a 2006 Harvard graduate puts it: ˜The MBA provides a decoder to how business people talk and think.”

But what are the elements that differentiate an MBA from other Masters programs? Below is a short summary of the most important ones.

Interactive participation

Course work is often structured as project-oriented group activities in which a dialogue between participants is encouraged. Discussions with academic and practical experts on a topic, and in-depth cases studies are both key characteristics of an MBA course of study. This interactive and collaborative approach fosters the valuable exchange of experiences, views, approaches and problem solving skills.

Real-world lecturers

Another feature of MBA programs is the often highly dynamic schedule of lecturers with a real-world business background, whereby seasoned lawyers, consultants, managers, CEOs and other guest lecturers share their invaluable insights and knowledge with the students.

Social competencies and skills – a diverse and mature student body

The student body of a top quality MBA program is often a highly diverse group of people. Participants may come from all walks of life: different countries, different strata, different cultures, different roles. Having fulfilled the tough admissions requirements (i.e. qualifications, work experience, GMAT and excellent references) serves in many cases as the lowest common denominator between the students of the program. It is this deliberate heterogeneity that fosters the awareness of varying cultures and promotes intercultural aspects in lectures and off campus activities.

Networking

Through a highly diverse student body, visiting lecturers and corporate internship opportunities networks emerge from which the MBA student will benefit long after he or she graduates from the program. It is this emphasis on the formation of strong networks that is another important characteristic by which the MBA program sets itself apart from other Masters degrees.

Final exam: Dissertation

While the Masters dissertation is a firm requirement for the majority of research Masters programs, it may or may not be a component of the MBA. Programs with a more academically rigorous curriculum are likely to require a thesis or dissertation as the final submission toward the degree by which the problem addressed must be practically applicable and be posed within a real-world professional context. For those programs that are considered a ‘terminal degree’, i.e. no additional research qualification can be built upon the MBA, a final thesis might be replaced by other requirements toward the final grade.

Modes of Study

MBA programs come in all shapes, forms and sizes and can be taken as a full-time, part-time, executive, distance-learning or online option. An increasingly popular form of studying an MBA is the executive mode, which allows the student to study the MBA while embedded in his or her job. The most frequent modes of study are the full-time and part-time options, which both deliver the most comprehensive content a course has to offer. The online mode should be a last resort option for anyone taking their MBA studies seriously – the remoteness of this program mode can never deliver the full benefits of an MBA course.

In conclusion

The MBA offers a very broad business education with real world relevance and a highly interactive and international approach. It is a suitable course of study for mature and highly motivated students who seek a challenging and hands–on approach to build on their experience and wish to give their careers a boost.