What is an MBA and how many types are there?
MBA, short for Master of Business Administration, is a degree specifically designed for participants who wish to further develop their business and management skills in order to lift their careers to the next level. MBA programs are often specialized in a certain area and are therefore not only applicable to the world of business, but to management and leadership positions in all sorts of industries in the private & public sector, government and all other areas.
Full-Time MBA
The Full-Time MBA is the most traditional Master of Business Administration. The Full-Time MBA normally takes two academic years to complete. Often starting in August or September, which is often the case in the Northern Hemisphere, and continues till May before a three- to four-month break until the next academic year starts. However, the one year Full-Time MBA is gaining popularity, especially in Europe, and is often a great alternative for the busy business professional.
Part-Time MBA
Part-Time Master of Business Administration programs often last three years or more due to the fact that these programs hold classes after regular working hours during the week, or even on weekends. Part-Time MBA programs typically attract working business professionals who rather take on a lighter course load spread over a longer period of time in order to combine it with their busy schedules.
The Modular MBA programs resemble the Part-Time MBA programs quite extensively, however, these programs consist of several individual modules typically lasting from one to three weeks.
Executive MBA
The Executive Master of Business Administration (or EMBA) program is specifically designed to cater managers and executives with extensive working experience, often 10 years or more, to their advanced educational needs. The Executive MBA program enables busy managers and executives to acquire the MBA in two years or less while working full-tme.
EMBA programs cover a wide variety of industries, serving both profit & non-profit enterprises and governmental institutes, and therefore attracting an ever growing number of participants from all over the world. A few decades ago, the number of Executive MBA programs increased rapidly which triggered, in response, the formation of the Executive MBA Council in 1981 to further advance executive education.
Distance MBA
Distance MBA programs contain classes that are held off-campus. Often utilizing several formats, a few examples are postal mailed (or e-mailed) correspondence courses, video- or teleconference and non-interactive or pre-recorded video broadcasts. Occasionally, a Distance MBA program may require some live personal contact in addition to the video- and teleconference. A wide variety of business schools offer Distance MBA programs.
Online MBA
The Online MBA program, much like the Distance MBA program, is a program that primarily or entirely takes place in an online environment. Standard without physical interaction with fellow students or even professors, an Online MBA is primarily an individual endeavour. All courses and examinations take place online and are completely liable to your individual schedule.