What is the full form of MBA?

What is MBA?

MBA can be expanded to Master of Business Administration. This is a course which can be done by students who have completed their graduation with any stream. You will get theoretical and practical knowledge related to business and investment management. There are many streams in which you can do your MBA. Some of these streams are −

• Accounting

• Finance

• Human Resource Management

• Marketing

• Relationship Management

Besides these, there are many other streams and you can choose the one in which you want to make your career.

Types of MBA Programs

MBA programs vary on the basis of specializations, disciplines, and schools. These types are discussed here in detail −

Two Year Full Time

This is the most common type of MBA which is preferred by many students. Students have to attend classes for full time. Fundamental business skills are taught in the first year and specific electives are taken up in the second year. Candidates are also permitted to go for an internship after the first year. As the duration of the course is long students can mingle with each other and it will be easy for them to learn and grasp the knowledge.

One Year Full Time

There are many accelerated programs which convert a two-year course into one year. If candidates do not want to spend more time due to their work schedules, they can opt for this course. The course is taught at a fast speed but the quality of the content is not good. Candidates have the option of selecting electives and learning general business.

Part-Time

Students who want to pursue MBA while continuing their job can go for part-time MBA courses. These programs are flexible and it depends on the students to use the best possible ways of completing the course quickly. Students can attend classes as per their own convenience.

Online

Students can also go for online MBA courses which can be for two years, one year, or part-time. Students have the permission of attending classes remotely Students get flexibility as they can attend classes as per their convenience.

International

Some MBA programs have been designed for global operations. Candidates who want to work abroad can go for this course. International MBA degree holders will have a wide variety of job opportunities outside their home country. This course can help students to work in a multinational company.

Executive

Executive MBA program has been designed for those students who are not able to attend their classes full-time. Such programs help professionals to enhance their knowledge while doing their jobs. The classes for these programs are held at night and during weekends. These programs are open only for those individuals who already have a lot of professional experience.

Specialized

Specialized MBA courses have been designed for those individuals who want to focus on a single discipline. Like finance, management, HR accounting, etc. These programs help students to develop skills for a particular industry.

How does MBA work?

MBA is a postgraduate degree and is provided by many universities and colleges. In order to get admission in MBA, you will have to go for an entrance exam called GMAT (Graduate Management Admission Test). Core classes are included in MBA related to different subjects like accounting, finance, HR management, and many more.

One of the main things in the MBA curriculum is management training. This training is related to top planning, leadership, business strategy, and many more things. It is easy to get into different fields after pursuing MBA and these fields include strategic planning, financial services, and many more.

MBA Course

MBA course is divided into two parts which are core MBA and elective MBA.

Core MBA

Core MBA courses consist of the fundamentals of general management. The following programs are included here −

• Accounting

• Business Communication

• Business Ethics

• Business Strategy

• Data Analytics

• Economics

• Finance

• Leadership

• Marketing

• Operations

Elective MBA courses give opportunities to students to select the subjects of their choice which will help them to achieve their career goals. A large number of elective courses are available and some of them are HR management, entrepreneurship, non-profit management, sustainability, and many more.

Types of Job Opportunities

You can get different types of job opportunities after completing MBA. Some of these jobs are listed below −

• Finance Manager

• Financial Advisor

• HR Manager

• Investment Banker

• IT Manager

• Management Analyst

• Management Consultant

• Marketing Manager

• Operations Manager

Requirements for MBA programs

Requirements for each MBA program are different. Some of the common requirements are as follows −

• Professional work experience for two years

• Proof of four-year bachelor's degree course

• Essays

• Resume

• Recommendation letters

• GMAT

Advantages of MBA

An MBA course has many advantages and some of them are listed below −

• Get knowledge about the global market

• Communication skills will be improved

• Professional network will grow

• A lot of job opportunities will be available

Disadvantages of MBA

The fees of MBA courses are expensive

• Competition is very high

• The courses lack real-world experience

• Students have to spend hours to study each subject

Conclusion

MBA can be expanded to Master of Business Administration. Students need to have a bachelor's degree and should appear in the GMAT exam to become eligible to get admission in a college. Successful candidates get a lot of job opportunities in different industries.

FAQs

FAQ 1: Can a student with science pursue the course?

Ans: Yes! Students with a science background can pursue the course even if they do not have any knowledge of business. They need to score 45-50% to be eligible to apply for the course.

FAQ 2: Is previous work experience a mandatory requirement?

Ans: No! prior work experience is not mandatory but if you have some experience, it will help you in doing the course easily.

FAQ 3: Is foreign MBA better than the Indian MBA?

Ans: This is not the case as both have the same value. Individuals who have plans to go abroad can go for foreign MBA.

FAQ 4: What is the maximum age to pursue MBA?

Ans: There is no age bar and people of any age can pursue the course.

FAQ 5: Can I pursue MBA with dual specializations?

Ans: Yes! There are some universities and colleges that provide MBA courses with dual specialization.