An MBA is a post graduate degree in business management. MBA is an acronym for Masters of Business Administration and is a very popular course for business students globally. The MBA program is recognized worldwide and is considered as a major step towards a successful business management career.
An MBA degree is one of the most popular degrees in the world because of its value to people in business and administration. Irrespective of the industry or profession that you are in, or regardless of the condition of the economy of your country, an MBA degree can benefit those in positions in business and management, especially those in executive and managerial positions.
An MBA program strives to equip its students with all the necessary knowledge, theoretical as well as practical, which can benefit them tremendously in managerial and administrative jobs. This does not apply only to business, as is usually understood by most people, but can also benefit people to get into executive positions in the public sector and government jobs as well. This gives the MBA degree a global appeal and worldwide recognition.
Here are some reasons why professionals go for an MBA
• Improved career – With the MBA programs many professionals are given the chance to improve their career path. They become more respectable in the industry because people who knew their current educational MBA background would always admire it. In many occasions they are always looked up as an expert in the profession given the MBA degree they have pursued and finished.
• Become more competitive – When professionals finish their MBA degrees, they become more competitive in their field of expertise. This means they have greater advantage than those who only finish bachelor’s degree. They have the edge when they apply for positions.
• Increase income potential – MBA graduates have good chances of enjoying more rewarding careers because they can ask for higher compensation than they regularly receive. MBA professionals who work in colleges and universities have greater chances of promotion from their present jobs prior to finishing their MBA program.
There is unprecedented competition in the marketplace today. The need to understand consumer desires and cater to them has become the norm for existence and survival in business. Thus, the necessity for enterprising managers with a global vision arises. Management education has received a great boost in the post-globalisation era. Premier institutes have descended upon the scenario with programmes aimed at carving out well-rounded personalities who can confidently walk through the portals of the corporate world
Since its inception in the early 1900s and especially in the last two decades, the MBA program has evolved tremendously and has witnessed the following trends:
Programs of shorter duration as a result of the highly competitive mature of the education industry and also in a bid to make the course less expensive, while at the same time not sacrificing on the quality of the course and the value of the MBA degree.
MBA courses had always been full time courses, but in the last few years there has been an introduction of many types of MBA programs based on their structure. So now there are part time MBA courses, modular programs, international programs, distance learning programs, and even online MBA programs.
some of the functional areas of management comprise Human Resource Management, Operations Management, Marketing Management, Information Management, Financial Management, Strategic Management and Organisational Behaviour, Tourism management, Health care management, Biotechnology management etc. At the end of an MBA program, the graduate emerges with an upper level knowledge of functional managerial and business issues as well as new conceptual skills ready to meet the demands that are set by the competitive business environment.
However, in addition to developing strong technical skills, today’s managers must be able to influence people, interact with a broad spectrum of colleagues, customers and suppliers; and negotiate with individuals from all walks of life. They must know how their company relates to competitors in both the micro and macro business environments.
Management Degree Diploma Abbreviation
MBA: Masters of Business Administration
MMM: Masters of Marketing Management
MMS: Master of Management Science
MPG: Master’s Program in Government
MPM: Masters of Personnel Management
PGDBA: Post Graduate Diploma in Business Administration
PGDBM: Post Graduate Diploma in Management
PGDED: Post Graduate Diploma in Entrepreneurship Development
PGDEM: Post Graduate Diploma in Energy Management
PGDEM: Post Graduate Diploma in Event Management
PGDFB: Post Graduate Diploma in Family Business
PGDFPE: Post Graduate Diploma in Fire Protection Engineering
PGDFT: Post Graduate Diploma in Foreign Trade
PGDHRM: Post Graduate Diploma in Human Resource Management
PGDIEM: Post Graduate Diploma in Import and Export Management
PGDIF: Post Graduate Diploma in Investment & Finance
PGDMLM: Post Graduate Diploma Course Materials and Logistics Management
PGDMM: Post Graduate Diploma Course in Marketing Management
PGDMR: Post Graduate Diploma in Marketing Research
PGDPDE: Post Graduate Diploma in Piping Design & Engineering
PGDRIM: Post Graduate Diploma in Risk & Insurance Management
PGMP: Post Graduate Management Program