THE MBA EXPLAINED
MBA stands for Master of Business Administration. It is, without doubt, the universally recognised qualification which many thousands of graduate students undertake each year. In fact, in many organisations, the MBA is viewed as being a necessity for career advancement.
The MBA originated in America, around 100 years ago. Within Australia the first MBA program offered was at the University of Adelaide in 1963, closely followed by the University of Melbourne, and the University of New South Wales, 1964. Today, there are over 50 MBA programs offered in Australia.
The typical MBA program contains all or some of the following fundamental subjects:
* Accounting
* Economics
* Finance
* Marketing
* Operations
* Organisational Behaviour
* Quantitative Methods/Statistics
* Business Strategy
In addition, many MBA programs will also contain a wide variety of electives, allowing students to specialise in an area that suits their career aspirations. New additions to the specialisations include E - Commerce, Internet Marketing, along with others, such as Human Resource Management; International Marketing; Tourism; Public Sector Management; Agribusiness, etc.
It has often been argued that many MBA graduates were strong in the 'hard' disciplines, such as quantitative techniques, but weak in the 'soft' areas of management, such as leadership, team - building, negotiation skills. Many MBA programs now include a variety of subjects designed to give managers an all round appreciation of the skills required to successfully manage.
Within Australia, the MBA has evolved from the traditional US type model, to an MBA that is influenced also by the leading European and Asian business schools. Some universities, the ANU for example, have made strategic decisions to develop an MBA with a focus on the Asia - Pacific region.
In essence, a good MBA program will provide the student with a solid grounding in the tools, techniques and skills required to effectively manage a business. The MBA program will integrate the various disciplines to demonstrate how they are related, and how they work across organisations, and industries.
Perhaps one of the reasons why MBA graduates are valued by employers is that by undertaking the MBA they are able to demonstrate both their intellectual abilities, and their sheer determination to make it through to the end of a very demanding study schedule.
The MBA originated in America, around 100 years ago. Within Australia the first MBA program offered was at the University of Adelaide in 1963, closely followed by the University of Melbourne, and the University of New South Wales, 1964. Today, there are over 50 MBA programs offered in Australia.
The typical MBA program contains all or some of the following fundamental subjects:
* Accounting
* Economics
* Finance
* Marketing
* Operations
* Organisational Behaviour
* Quantitative Methods/Statistics
* Business Strategy
In addition, many MBA programs will also contain a wide variety of electives, allowing students to specialise in an area that suits their career aspirations. New additions to the specialisations include E - Commerce, Internet Marketing, along with others, such as Human Resource Management; International Marketing; Tourism; Public Sector Management; Agribusiness, etc.
It has often been argued that many MBA graduates were strong in the 'hard' disciplines, such as quantitative techniques, but weak in the 'soft' areas of management, such as leadership, team - building, negotiation skills. Many MBA programs now include a variety of subjects designed to give managers an all round appreciation of the skills required to successfully manage.
Within Australia, the MBA has evolved from the traditional US type model, to an MBA that is influenced also by the leading European and Asian business schools. Some universities, the ANU for example, have made strategic decisions to develop an MBA with a focus on the Asia - Pacific region.
In essence, a good MBA program will provide the student with a solid grounding in the tools, techniques and skills required to effectively manage a business. The MBA program will integrate the various disciplines to demonstrate how they are related, and how they work across organisations, and industries.
Perhaps one of the reasons why MBA graduates are valued by employers is that by undertaking the MBA they are able to demonstrate both their intellectual abilities, and their sheer determination to make it through to the end of a very demanding study schedule.