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MBA Essentials

104 cards · 🇺🇸 English

The core concepts and vocabulary of a business administration degree.

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MBA

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  1. 1MBA
    Master of Business Administration
  2. 2Three most important accreditations for MBA programs globally
    AACSB (Association to Advance Collegiate Schools of Business), AMBA (Association of MBAs), and EQUIS (EFMD Quality Improvement System)
  3. 3Triple accreditation
    Holding all three major accreditations: AACSB, AMBA, and EQUIS
  4. 4Executive MBA (EMBA)
    A degree program similar to MBA, specifically structured for corporate executives and senior managers already in the workforce
  5. 5What accredits MBA programs with healthcare management specializations?
    CAHME (Commission on the Accreditation of Healthcare Management Education)
  6. 6Accelerated MBA programs
    Variations of two-year programs condensed into one year with higher course load and less downtime
  7. 7Modular MBA programs
    Similar to part-time programs, typically employing a lock-step curriculum with classes packaged in blocks lasting one to three weeks
  8. 8What level of work experience do EMBA students typically have?
    Often 10 years or more (higher than other MBA students)
  9. 9MBA dual degree programs
    Programs combining an MBA with other degrees (MS, MA, MEng, JD, etc.) to cut costs and save time
  10. 10Mini-MBA
    A training regimen focused on business fundamentals, typically requiring less than 100 hours of total learning (often non-credit bearing)
  11. 11Two main entrance exams for MBA programs
    GMAT (Graduate Management Admission Test) and GRE (Graduate Record Examination)
  12. 12What do MBA programs base admission decisions on?
    Undergraduate GPA, transcripts, entrance exam scores, résumé with work experience, essays, recommendations, group discussions, and interviews
  13. 13Two main parts of MBA curriculum structure
    Core courses (standard curriculum) and elective courses (for specialization)
  14. 14What do students acquire in the first year of an MBA program?
    Working knowledge of management functions and analytical skills
  15. 15What do students pursue in the second year of an MBA program?
    Elective courses which may count towards a specialization
  16. 16MBA degree capstone
    Coursework in business strategy
  17. 17Typically required after coursework completion
    A dissertation or major project
  18. 18How do MBA programs provide exposure to theory and practice?
    Through lectures, case studies, and team projects (mix differs by school and format)
  19. 19Case method in MBA programs
    A teaching method placing the student in the role of decision maker, using real-world business situations with constraints and incomplete information
  20. 20Core analytical courses in an MBA
    Accounting, economics for management, organizational behavior, and quantitative analysis (operations research and business statistics)
  21. 21Core functional courses in an MBA
    Financial management, human resource management, marketing management, and operations management
  22. 22Core ethics courses in an MBA
    Business ethics, corporate social responsibility, and corporate governance
  23. 23Common broad electives in MBA programs
    Entrepreneurship, international business, management information systems, business law, market research, organizational design, negotiations, international finance, project management, managing non-profits, and real estate investing
  24. 24Capstone courses in an MBA
    Strategic management and business leadership (strategy)
  25. 25What research component is required in MBA programs?
    Research methodology and dissertation/major project
  26. 26Common MBA specializations/concentrations
    Accounting, entrepreneurship, finance, international business, healthcare administration, human resources, MIS, management science, marketing, operations management, organizational design, project management, real estate, risk management, and strategy
  27. 27The accounting course in an MBA
    Financial accounting (interpretation and preparation of financial statements) and management accounting (analysis of internal results)
  28. 28The economics course in an MBA
    Managerial economics (product pricing influenced by microeconomic theory) and macroeconomics (banking system, money supply, inflation)
  29. 29Operations research and statistics sometimes combined as
    Managerial Decision-Making or Quantitative Decision-Making
  30. 30Focus of the business strategy component
    Finding competitive advantage and the long-term positioning and management of the entity as a whole

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