The most obvious reason to choose a Master of Business Administration program has to be the program’s curriculum. What you learn in the years that you will spend there, are the things that you will use in the future, in order to build your career. MBA programs’ curriculums are usually divided into core courses and elective courses, so you need to take a look at both of them, in order to assess that this program is for you.
Master of Business Administration programs usually take up to 2 years to complete, while online MBA programs take from 18 months to 3 years.
Core courses are the basic courses that you will find in every MBA program. They cover all the subjects that you need to be familiar with, in order to run successfully a business. They contain courses on accounting, finance, marketing, human resources, operations, microeconomics, and leadership and ethics. Let’s take a look at what each one of them will teach you.
Accounting courses will help you learn how to control and manage costs. Through this course, you will be able to evaluate a company’s performance, as well as you will learn how to plan ahead. The advanced courses in accounting will show you the impact that mergers and acquisitions have in the business world.
When you start working, you must be able to read financial statements. Finance courses will teach you just that. Moreover, you will also get acquainted with some standard analysis techniques, like capital budgeting and discounted cash flow valuation, both very useful.
In the marketing courses, you will learn what your future customers want and how you can approach them. You will learn to recognize their needs and also create new ones for them. The knowledge you will get in this course is invaluable.
4. Human Resources
Upon graduating from an MBA program, you will most probably get a managerial position. This means that you will have personnel under you. In this course, you will learn how to manage your personnel.
If you get a job at a business that sells some kind of program, operations will be essential to you. You will learn all the common problems that arise and techniques to fix them. Moreover, you will become familiar with inventory management and control, quality management and product design, among others.
Microeconomics refers to the impact of individuals and companies on the supply and demand of the market. Among the skills you will learn is the analysis of the market conditions, so as to be able to set a price for the products or services you will be selling.
7. Leadership and Ethics
These are two topics that every manager should be aware of. The leadership part refers to the way a manager evaluates the performance of his subordinates and communicates his decisions. The ethics part, on the other hand, refers to the analysis of the company’s actions, so as to evaluate whether the company is responsible and ethical.
Elective courses differ from program to program of the business school. There is a great variety to choose from, so by choosing the topics that interest you the most can give you a different career option. When choosing from an MBA program, take a close look at all its elective courses, so that you figure out if it includes your ideal career path.
Some electives that you can find in MBA programs are:
- Corporate Governance
- Financial Statement Analysis
- Strategic Cost Management & Control
- Decision Models
- Understanding and Managing Risk
- Advanced Game Theory
- Financial Crisis and Crisis Management
- Digital and Corporate Entrepreneurship
- New Business Ventures
- B2B Marketing
- Brand Management
- Psychological Issues in Management
- Technology & Innovation Strategy
- Strategies for Product and Service Development
These are just a few of the available electives on Master of Business Administration programs’. Make sure that you use this information to make the right decision for your future.