What Is MBA?
A Master of Business Administration (MBA; also Master in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, strategic management, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy.
Some programs also include elective courses and concentrations for further study in a particular area, for example, accounting, finance, marketing, and human resources, but an MBA is intended to be a generalized program. MBA programs in the United States typically require completing about forty to sixty credits (sixty to ninety in a quarter system), much higher than the thirty credits (thirty-six to forty-five in a quarter system) typically required for degrees that cover some of the same material such as the Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.
The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive (abridged coursework typically occurring on nights or weekends), and distance learning students, many with specialized concentrations.
How Long Is MBA In South Africa?
Two Years
Usually, an MBA takes two years to complete. There are also some courses that condense this into an accelerated one-year program while others offer part-time programs over as long as four years.
What Is An MBA Degree For?
There is no typical MBA student. While historically MBA students pursued careers in finance or consulting, the average MBA class today is filled with students from a wide variety of professional backgrounds.
There are 69 nationalities represented in the Harvard MBA class of 2022. Forty-four percent of students are women and 45 percent are US minority students. Students come from the technology industry, manufacturing, healthcare, nonprofits, the media, and the military, as well as finance and consulting.
At INSEAD, 88 nationalities are represented in the MBA class and students come from academic backgrounds ranging from business and engineering to the arts and political sciences.
According to the Graduate Management Admission Council™ (GMAC™), the top career motivations for prospective MBA students include: salary increase, promotion to senior positions, managing people, and working internationally and these benefits are just some of the many reasons to get an MBA.