Leader’s and senior managers could benefit from a recognised master in business administration (MBA) or master management studies degree where they receive advanced grounding in management theory.
Managers with years of experience and in the possession of a master’s in management or MBA could be a valuable asset for an organisation or indeed working for themselves.
Master in Business Administration (MBA) is a postgraduate business qualification that is well known and asked for by employers around the world.
Similar subjects are studied to Master in Management Studies at many colleges & universities, although an MBA is designed to offer students an academic grounding in business terminology and thinking.
Master in Business Administration & Master Degree Qualification
MBA started as a general management qualification, although in the past few years many organisations have offered specialised MBA’s including a range of sectors from nursing, oil & gas, public sector, management practice, accounting and finance.
Executive MBA courses offered are targeted at people in senior management positions in any organisation looking for a good grounding in theoretical business.
The Association of MBA’s accredit courses around the world, although this is optional for course providers.
There are of course business schools that specialise in business and universities and colleges that can provide a more rigid MBA course.
There Are 3 General Masters in Management Degrees
Management Studies (MA)
Masters in Business Administration (MBA)
An MBA and MA in management studies can be followed for the first two stages of certificate and diploma stages and students can then choose to continue to MA Management Studies or an MBA (For a good number of university courses).
MSc in Management is distinctively different and usually is more financial and mathematical based, although the MA and MBA or more general management focused with a choice to specialise in a certain field.
What You Will Learn
All MBA’s students study core subjects and then choose specialist options that can be studied towards a specialist MBA or a general qualification.
General management courses (MA, MBA) are not the same from each provider although many offer similar courses are offered including:
- Financial management
- Human resource management
Choice of options that could include: International management, management consultancy, international economics, others.
Research methods modules for all students cover qualitative and quantitative methods that help with the completion of your dissertation.
Group work, written assessments, assignments and a dissertation are common for the general management and MBA qualifications.
Assessment for a Masters in Management and MBA
Students attend lectures, tutorials and work individually and take part in group work.
Assessments from assignments, and formal examinations in the first two parts of a master’s in management and a dissertation to complete the masters degree or a masters in business administration (MBA).
Aimed at adults with an undergraduate degree in the workplace a choice of study from full time, part time, open and distance learning and flexible learning.
Certificate in management
Diploma in management
Many course providers offer credit for prior learning for the certificate or diploma stages from another provider.
Depending on the mode of learning, organisation and the type of MBA or management degree you study:
1-year full time
2- 3 years part-time
1-2 open learning
1-2 years distance and open learning
Executive MBA 1-2 years full time
MBA’s have a range of entry requirements and this also depends on the mode of learning.
Studying full time will require a face to face interview and possible assessment in written form and possible group assessment.
– Good undergraduate degree
– Over 21 years of age
– Possible good GMAT score
– Work experience
Diploma in Management Studies can gain entry to a later stage of an MBA, depending on the organisation. (Very few)
Many universities and colleges around the world offer different modes of learning for MBA’s and your choice should reflect your career goal, budget, study mode, time, and ability.
Funding and Fees
Masters in management or MBA students do not attract any government funding.
Fees range greatly in price depending on the perceived grandeur of the course and provider.
Masters in business administration courses start in the thousands of pounds and could cost tens of thousands to study at certain universities or college. Master’s in management studies costs much less in fees for some reason.
Three Career Options Where You Can Benefit From an MBA
Other than teaching and lecturing or working at a school.
The purpose of getting an MBA is to get ahead of other job applicants for getting your first job and to make rapid progress thereafter, and widening your MBA career options.
Essentially, a management qualification ensures that you get to enjoy a more lucrative and challenging career compared to other people who do not have such qualifications.
However, with a wide assortment of university business schools to choose from in the UK, India, USA and around the world and thereafter a wider selection of career, it becomes very important to get a fix on the careers that will give you the maximum return on investment.
Some career options that give you an edge if you have achieved an accredited MBA degree.
MBA Career Options
Information Technology Manager
The primary responsibility of IT managers is to look after the implementation and maintenance of the computer systems in a company, college and at a university. Given the all-pervasive nature of IT in contemporary organizations and the critical role of IT in delivering products and services to customers, competent and skilled IT managers are greatly in demand to provide round the clock IT systems to students, lecturers and the wider campus community.
While IT managers need to be qualified in various aspects of information technology such as server and network configuration, hardware and software technology, database administration, senior IT managers are also expected to be proficient in managing teams across locations and time zones while providing learning resources to distance learning students.
IT managers who have additional management qualifications such as an MBA degree from (Mumbai Educational Trust) or other learning provider worldwide can expect to experience a faster growth in their careers.
An MBA degree can give candidates the much needed business perspective that will allow them to be on the same wave length as the top company, college or university management and their vision for driving the company forward.
The demand for IT management is expected to be sustained for the near and medium terms and IT personnel with management qualifications are expected to be in very high demand.
The success of any contemporary school, university college or business depends on a large degree on how well and efficiently it is able to raise and manage monetary resources. Finance managers are at the forefront of managing a company’s finances both for investments and working capital.
The typical job profile involves preparing and reviewing financial statements and reports, trend analysis, finding new opportunities for deployment of surplus amounts, tying up letters of credit or negotiating with lenders for loans for capital expenses.
Finance managers also need to be clued up on the concepts of treasury management, foreign exchange, and collaborating with merchant bankers for the issuance of shares or placement of debt instruments.
Managers who have an additional management qualification are more in demand not only because of their superior number-crunching skills but also a better perspective of the financial and industry environment.
Career options for MBA graduates with a major in finance are also good as they are in high demand as financial advisors who provide guidance for personal wealth planning, tax and insurance, retirement planning, to high net worth individuals.
While a large number of financial advisors are independent practitioners, a lot many are also employed by investment firms providing an array of services to their clients, both individual and institutional.
When a financial advisor is equipped with an MBA degree, it gives him a better perspective on wealth management issues and trends that in turn makes him a better advisor.
These candidates are able to enjoy fast-track career progression in the industry and are also capable of setting up their independent private practice due to their better command over various business management issues.
While it is essential for job applicants to have competence in their chosen fields, an accredited MBA degree helps with wider career options and helps with a broader perspective that can assist in having a faster career growth.