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Master of Business Administration (MBA)

Definition, Explanation	Tips, Checklist
Articles

Definition, Explanation

The degree „Master of Business Administration“ is suited, as an additional qualification, especially for workers with a finished degree in technics, natural or humanistic sciences who desire aquiring economic and management knowledge. Also business-graduates qualify additionally with a MBA. That is why usually executive and going-to-be executive personnel choose this way as further education.

Normally the 1 to 2 years time of studying MBA is a generalist management education, presented either in full time or parallel to work. By now there are also more specialized programs like the MBAs of Business Engineering, of Project Management or of Real Estate Management. The education is practical and mostly internationally oriented. The language of teaching is usually English. Often, a stay in a foreign country of several weeks is obligatory. The costs are, besides pure study fees, those of studying material, board and lodging and commuting.

Tips, Checklist

• To sort out in advance:
  • What do you expect from a MBA degree? Think of your carreer, a change of job, your income, your network, your competences (both professional and soft skills)
  • How much time can you spend on studying? Is the optimal form of your studying full time or part time, should you do it parallel to working or as distance studies, online studies or as a distance learning program?
  • How does your family support you?
  • What does your current employer think about this form of further education? Are you supported by him regarding time or even finance? Does that support affect your employment contract, and in what way?
  • What are the admission standards/requirements? High school diploma, professional experience, grades, English qualification like TOEFL, other tests like GMAT, application- and reference- letters?
  • How important, for you, are accreditation of certain quality standards, or ranking or reputation of the university you will attend?
• Try to gain information about your desired MBA-program from the respective provider and from neutral sources in fori, on web-platforms, in publications and alumni-networks
• Ask critical questions e.g. about number and background of applicants. Primarily you are a paying customer, secondarily a student
• Find out what are the practised methods of teaching like case studies, project work, group work, presentations, techniques of speech, and who are the teachers

Articles

• With Jobs Tight, M.B.A.s Head for Home; Wall Street Journal, April 21th, 2009

Last update: 09/21/2009