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.
Bodies that accredit institutions as a whole include: Full-time MBA programs normally take place over two academic years (i.e. approximately 18 months of term time).
A typical full-time, accelerated, part-time, or modular MBA requires 60 credits (600 class hours) of graduate work.
The students in these programs typically consist of working professionals, who take a light course load for a longer period of time until the graduation requirements are met.
However, due to the criticisms of these certificates, many schools have now shifted their programs to offer courses for full credit so that they may be applied towards a complete traditional MBA degree.
The Graduate Record Examination (GRE) is also accepted by almost all MBA programs in order to fulfill any entrance exam requirement they may have.
Theory is covered in the classroom setting by academic faculty, and is reinforced through the case method, placing the student in the role of the decision maker.
Practical learning (field immersion) often comprises consulting projects with real clients, and is generally undertaken in teams (or "syndicates").
With these as underpin, the course then covers the core management functions, and, in turn, allows students to select from further advanced topics as appropriate.
Some programs treat the curricula here in two parts: the first course provides an overview, while the second revisits the subject in-depth (perhaps as specializations); alternatively, the first addresses short-term, tactical problems, while the second addresses long-term, strategic problems (e.g., "Financial Management I" might cover working capital management, while part II covers capital investment decisions).
For the business strategy component, the degree capstone, the focus is on finding competitive advantage and the long-term positioning and management of the entity as a whole.
Here, the key functional areas are thus synthesized to an overall view; the strategy course depicts how the various sub-disciplines integrate to tell one continuous story, with each discipline complementing the others.
The MBA dissertation (or thesis in some universities) will, in general, comprise the following in some combination:[47] a discussion of the literature, providing a critical review and structuring of what is known on a given topic, to address a specific problem; a case study that goes beyond simple description, containing the analysis of hitherto unpublished material; a test of the application or limitations of some known principle or technique in a particular situation, and/or suggested modifications.
English-only MBA programs are also offered in Hong Kong, Indonesia, Malaysia, Singapore, South Korea, Taiwan, and Thailand.
The Business Schools conduct their own admission tests instead although the rationale for this instead of providing introductory courses and certifications is unclear.
In 1991, the Academic Degrees Office of the State Council approved 9 domestic colleges and universities to carry out MBA education pilot work.
[citation needed] In India, MBA degree is a 2-year postgraduate qualification designed to equip students with advanced business skills and knowledge.
It typically covers a wide range of subjects including finance, marketing, human resources, operations, and strategy.
There are many business schools and colleges in India offering two-year MBA or PGDM programs accredited by AICTE or UGC.
The concept of an MBA is still not considered mainstream as traditional companies still perceive that knowledge and learning with respect to business and management can only be effectively gained through experience and not within a classroom.
In fact, some companies have been known to place recent MBA recipients in unrelated fields, or try to re-acclimate their Japanese employees who have spent years overseas earning the degree.
As a consequence, academic institutions in Japan are attempting to reinvent the perception of the MBA degree, by taking into account the local corporate culture.
Admission requirements for MBA programs in Malaysia typically include a bachelor's degree from a recognized institution, relevant work experience, and sometimes, standardized test scores such as the GMAT or GRE.
[72][73] Both of these were two year courses, despite Franks' recommendation to pursue one-year master's degrees, and were initially called MScs rather than MBAs.
The association's accreditation service is internationally recognized for all MBA, DBA, and Masters in Business and Management (MBM) programs.
There is little use of GMAT, and instead, each educational institution specifies its own requirements, which normally entails several years of management-level work experience as well as proven academic skills.
[93] Today, publications by the Aspen Institute, Business Week, The Economist, Financial Times, Forbes, Quacquarelli Symonds, U.S. News & World Report, and the Wall Street Journal make their own rankings of MBA programs.
Articles have been written about public perceptions of the crisis, ranging from schools' acknowledgment of issues with the training students receive[109][110] to criticisms of the MBA's role in society.
[109] As financial professionals are widely seen as responsible for the global economic meltdown, anecdotal evidence suggests new graduates are choosing different career paths.
[113] Deans at top business schools have also acknowledged that media and public perception of the MBA degree shifted as a result of the Great Recession.