Definitions

MBA – Master of Business Administration

The Master of Business Administration (MBA) is a postgraduate management study programme (General Management), which should cover all essential management features. MBA is also a term used to describe the academic title acquired during the course of studies. The target group of these study programmes are mostly engineers, business economists, natural scientists, humanists, jurists, medics and entrepreneurs.

MBA – Integration

Being a master’s study programme, the MBA ranges in the second step of the study system in the Bologna Process in Europe. This means that the MBA usually requires a finished undergraduate degree (e.g. bachelor/master) or a comparable qualification and a classification in the European Credit Transfer System (ECTS). The MBA must be concluded with a Master’s thesis and the comparability has to be guaranteed through a diploma supplement. In 1997 education experts and accreditation organisations from 19 European countries and the USA have developed MBA guidelines, which are of great importance for the comprehension of MBA programmes.

MBA – Admission standards

The admission standards are managed differently by the respective business schools. A formal minimum requirement is a finished undergraduate degree (e.g. bachelor), often an equivalent qualification (e.g. leadership position) is accepted as well.

MBA Degree/Graduation/Title

A degree, figuratively graduation, certifies the student the successful acquisition of the MBA. This degree is awarded by the respective school or university. According to the acknowledgement/accreditation the MBA is nationally or internationally approved. This distinction has to be considered when choosing a study programme. The range of accreditation is especially important for employers, who might contribute to the expenses of the education training. The academic title MBA is usually cited after one’s name – thus first name, surname, MBA.

Executive MBA

The offer of the business schools to attend an executive MBA is addressed to manager with several years of professional experience. An executive MBA is thus usually acquired through a non-consecutive, in-service postgraduate study programme. The MBA part-time-programme takes place on weekends and through block instruction. An executive-MBA-programme lasts two years or more.

Online MBA

MBA-Programmes are challenging; the lecture and the connected group work as well as the e-learning process. If one’s personal situation does not allow the essential expenditure of time for the lectures with compulsory attendance, the possibility of an online-MBA is a real alternative. In these programmes the learning process benefits from the possibilities of the new technologies, which allows the participants a certain degree of flexibility in terms of time. The attendees receive all the essential information and are tested through e-lectures, lecture notes, video presentations and online-tests in order to obtain the according transfer of knowledge.

GMAT

The GMAT is a standardized four-hour English language test, developed by the Education Training Testing Service (ETS) and commissioned and offered by the Graduate Management Admission Council (GMAC). It defines the logical and verbal skills of the participants, who have to pass the test under time pressure. The test results show the apprehension of complex facts, the ability to reason as well as the ability to solve problems. Hence the efficiency of the functioning and the chances of success in a future MBA programme can be predicted.