An MBA (Master of Business Administration) is a graduate degree
obtained at a university or college that offers both theoretical
and practical training to provide graduates general knowledge
about general business management functions. The MBS degree may
have a specific focus as: accounting, marketing or finance.
An MBA degree represents a level upward from an undergraduate
business course and its achievement places the graduate far
above other candidates owning just an undergraduate degree.MBA
programs has become to be offered by most universities and
colleges during the past two of years. For instance, only in the
UK, 116 business schools are currently offering MBA courses and
the number of students graduating this form of education has
risen from 4,000 in 1990 to over 10,000 in 2000.
In order to be accepted in an MBA program, an applicant must
take the Graduate Management Admission Test (GMAT) - for the US
education system. The GMAT is a standardized test that aims at
determining the aptitude of a candidate for an activity in
business management studies. It is presently made up of an essay
section containing two free-response essays of 10 minutes each;
two multiple choice sections, one mathematical section and one
verbal skills section.
Apart from the GMAT test, other admission criteria focus on
significant work experience, academic transcripts, references
and personal interviews. Extra-curricular and community service
activities represent an interest for the admission boards.
The MBA degree courses offer students knowledge on economics,
organizational behavior, marketing, international business,
finance, government policy, accounting and information
technology management.
The traditional MBA degree offers students a broad range of
general courses in the first year of studies, followed by a
specialization in the second year.
Specialization in particular areas as: technology management,
accounting, strategy or specialized business, marketing and
finance is being offered by many MBA degrees.
There are several ways of attending MBA courses.Nowadays MBA
degrees can be accessed through online, distance learning or
e-learning as the program offered by the Open University
Business School. Due to the large variety of MBA degrees offered
worldwide, the elite business schools are being accredited by
independent bodies as the Association of MBAs. This association
acts as a global network for the MBA community: MBA students,
MBA graduates, schools, businesses and employers.
Consequently, the MBA degree represents a leading management
qualification that creates highly competent professional
managers.
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