Getting an MBA can often help professionals and business people climb the metaphorical corporate ladder. Many organisations require that one has an MBA to be considered for certain leadership and strategic positions. As a result, it is not out of place to see people that have several degrees going back to study for an MBA to qualify for some promotions.
With the explosion of EdTech, many fields of education have been affected and getting an MBA has not been left out of the digitisation drive. Today, you can study for and obtain an MBA entirely online from the comfort of your home. But as has been the case with anything done online, people often wonder whether an online MBA can be compared to the one obtained in a brick and mortar classroom. In this post, I will be answering the question; are online MBAs worth it? But before we delve deeper into that, let's first answer the question; what is an MBA?
What Is An MBA?
According to
Wikipedia, A Master of Business Administration (MBA; also Master's in Business Administration) is a graduate degree focusing on business administration, investment management.
MBA syllabus often focuses on core areas of business management including business communication, business strategy, strategic marketing, operations, human resources, business law and ethics etc.
Various universities offer areas of specialisations for their MBAs which means that one can choose a core area to focus on. However, regardless of the area you decide to focus on during your MBA, chances are that you will take at least one course from each of the core areas.
Who Needs An MBA?
A lot of people make the mistake of taking an MBA because they see other people doing the same. If you do not know whether an MBA is useful for you, then chances are that you might be wasting your money. So, who needs an MBA?
An MBA is especially useful for professionals who work in a business environment. Like we earlier established, the MBA degree was originally conceived for business leaders and strategists. As a professional, getting an MBA will most likely raise your stock, and get you ready for leadership positions.
Another group of people that will do well with an MBA are entrepreneurs. Most MBA courses teach both business leadership and entrepreneurship; armed with this knowledge entrepreneurs can build their businesses better with a global mindset.
What Is An Online MBA?
An online MBA as the name implies is an MBA that is taken entirely online. Unlike the physical MBA where you need to attend classes in person, you can take online MBAs from anywhere around the world. Higher institutions have quickly latched on to the innovation around digital education to offer their courses online.
Are Online MBAs Worth It?
We have already noted that there is no difference between an online MBA and an in-person MBA. The major difference between both is their mode of delivery. Taking an MBA online does not diminish the value of the MBA. With the digitisation of almost every field of endeavours, employers have become very accepting of online degrees, seeing them in the same light as degrees obtained in person.
Advantages of Online MBAs
Flexibility
One of the key advantages that online MBAs have over physical MBAs is flexibility. Unlike physical MBAs where you have to be in class at fixed times, online MBAs offer you the flexibility where you can offer take courses at your pace and when it is comfortable for you. This added flexibility allows students to work full time while taking their MBAs.
Affordability
According to a Graduate Management Admission Report in 2018, 36 per cent of online MBA programs showed a growth in enrollments. One of the reasons for this trend might be the affordable nature of online MBAs. For one, online MBAs have made it possible for students to take their classes from the comfort of their homes, effectively removing the added cost of commuting to and fro classes. Secondly, online MBAs are typically cheaper than physical courses in many cases, therefore providing a viable option for a lot of students.
Less Stress
Like we earlier established, taking an online MBA often saves you the stress of commuting to and from school. But additionally, online MBA’s also save students the stress of travelling. Previously, a lot of people who needed an Ivy-league MBA had to go through the stress of applying for visas, then travelling thousands of kilometres to study. However, with the explosion of online MBAs, these same schools now offer online MBAs and students can now study for the same degrees without necessarily going through the stress.
How To Determine Which Online MBA Is Best For You
There are a plethora of online MBAs out there, but you can only attend one. So, how do you decide which of the available online MBAs suits you? Here are some key things to keep in mind.
Consider Your Finances
While your MBA might mean you improve your finances in the long run, you still have to pay for the degree first. Therefore, when considering which online MBA is best for you, you have to think about your finances. There are many institutions out there offering online MBAs at different prices. One of the first ways to look at which online school you should attend should be based on whether you can afford it.
Here at MSBM, our online MBAs are competitively priced so that almost anyone can attend if they so wish.
Accreditations
Another integral thing to look out for when considering which online school to attend for your MBA is if the school is accredited or not. One of the pitfalls of online education is that there is free entry and exit thereby meaning that you will find a few bad eggs offering online MBAs without accreditations. You want to make sure that you verify if the schools you are looking at have accreditations or not. The truth is that if you study for an MBA with an institution that is not accredited, your MBA will not count. So, make sure to do your due diligence,
Thankfully, here at MSBM, we are
fully accredited in the UK by the UK CPD, OTHM, Qualifi and we have strong partnerships with universities in the UK and elsewhere to deliver high-quality MBAs to our teeming students.
Read Reviews
In the same coin of trying to verify the credibility of the online MBA practice you are about to take, reading reviews about the online institution you are considering is very key to understanding if they are worth the trouble or not. A transparent school typically has a review section on their website and course pages where students can leave a review talking about their experiences. By visiting the review page, you should be able to feel the pulse of the institution, to understand whether it is for you. A review page should look like ours
here.
Consider What You Need in A Program
We earlier noted that different schools offer various kinds of MBAs with different focus areas. As a result, you must make sure that the program you are applying to meets your specific needs. For example, here at MSBM, we have about 20 different MBA options including MBA in digital marketing, project management, public health management, media and entertainment, human resources and business management to mention a few. This is so because we want to make sure that people from various industries and sectors can have access to MBA programs that are tailored specifically to what they do. So, we typically advise intending students to think about what they specifically need before choosing an MBA program.
Conclusion
Online MBAs are not different from in-person MBAs. Your MBA will only be disrespected if you obtain it from an institution that is not fully accredited. To make sure that you don’t fall victim to unaccredited schools, make sure that you do your due diligence before signing up. At
MSBM, we are fully accredited to deliver top-notch MBA from top universities in the UK and beyond our students. Consider signing up with us if you are looking for a valuable online MBA.
