The MBA is one of the most powerful qualifications that you can have in business and one that is much needed in start-ups and e-commerce today. There was a time when you could only get these precious credentials by going through a traditional business school.
Fast forward to today, and almost anyone with an internet connection can get a top-level education from some of the best universities in the world right from the comfort of their home. And while online MBAs used to be frowned upon at the beginning, they are widely accepted and respected today. Getting an online MBA could be one of the best and most life-changing decisions you could make.
Here are a few reasons why.
For many people, the issue is not if they should get their MBA, but how. This is especially true for business owners who may have thought of getting an online MBA so they can have the foundation necessary to run their business more efficiently.
However, this can be close to impossible for some. Even if you were to take your courses part-time, your business might not allow for it, and it could take forever to complete it.
But, with an online MBA, you’ll be able to enjoy classes on your own time if you want to. Some classes are asynchronous, meaning that you’ll be able to listen to classes even out of schedule. This is a great option if you are independent and don’t feel like you’ll need a lot of help. However, we still suggest that you go with synchronous classes so you can get all the benefits that come with it.
Online MBAs also usually allow you to finish your classes much sooner than you could through a traditional brick and mortar program. You also always have the chance to stretch them out to make things easier for you.
Getting an online MBA also means that you won’t have to be chained up to one physical location. So, if you want to pack up in the middle of the semester, you’ll still be able to keep up without missing a beat. “I love the fact that I was able to take my midterms from a coffee shop in the middle of Argentina,” said business development manager and MBA Neil McLellan.
However, it was about more than just the flexibility; it was also how accessible the staff was that made it such a great experience for him. “It’s really about the ease. How responsive the teachers were. They will check on you. And they’ll guide you by the hand when you need it.”
This is one of the most common misconceptions people have about online MBAs. While you don’t have direct contact with other students, there are still plenty of ways that you can connect with them, and even build study groups if you want. You also can get feedback and help from professors in real-time during classes without disruptions, which is pretty much impossible with a traditional program.
You’ll Have a Greater Choice of Faculty
Another thing that is great about an online MBA is that you won’t be limited by geography when choosing a faculty. You could go to a university in a different city, county, or even the country.
If you wanted to go to one of the UK’s top business schools, you could do that even if you’re from a remote town in BC or the Northern Territories. Aston University Online offers one of the most respected MBAs in the world and was ranked at number 12th amongst all online MBA programs. Their MBA is also one of the most employable, with an 82% rating according to the Times/Sunday Times 2017 University Guide.
Another advantage of online MBAs is the cost savings you’ll be able to make. Let’s make this a little clearer, however. In most cases, you shouldn’t expect to make huge savings on tuition. Most online programs will have similar tuitions as their traditional program. However, there are tons of other different ways that you could save. Some of these include:
- Transportation costs
- Campus costs
When you study online, just being able to eat home-cooked food every day can make a huge difference to your budget. You also won’t have to worry about relocating, and online manuals will cost you much less. You could also decide to limit the number of credits per semester you take depending on what you can afford.
Another very underrated aspect of online MBAs is the diversity of the people who attend them. By design, these were created to cater to people with different needs, so you are bound to rub shoulders with people from all sorts of different backgrounds.
You might be able to connect with people from completely different industries. They could give you some insights based on their experience, and even spark your interest in some fields. Some online MBA students come from diverse fields such as:
Online MBAs tend to attract many business owners, some of who may already have their own successful start-ups. Many start-up owners decide to take an MBA later to sharpen their skills and become more well-rounded entrepreneurs. This will be your chance to get a sense of what it’s like on the other side and learn from real-life experience.
Then there’s the international component. MBAs already tend to reach a large international crowd, but online MBAs even more so. These could give you the opportunity to gain valuable insights into emerging markets, and discover new opportunities. Online MBAs reach people from virtually every demographic, background, and origin, giving you access to a wealth of information and expertise.
State of the Art Technology
Another great thing about online MBAs is how they use technology. Since these programs have to deliver a world-class curriculum to students all over the world, they have to be powered by state-of-the-art technology. You’ll also get the chance to familiarise yourself with common tools you might need as part of your business. Some of the tools used in the context of an online MBA include:
- Google Docs for collaboration with other students and file sharing
- Join.me and VoiceThread for real-time online meetings with professors and students
- Yammer for interactions with alumni and other students
- Sakai to turn in homework, access various manuals, and for feedback
What’s great about this is that you’ll be able to work in an agile framework very easily once you’ve completed your program. Using CRM, project management, and agile tools will be a breeze as you’ll already be used to working in a remote setting. This is the kind of small edge that will allow you to integrate new solutions much more easily in your organisation, and be able to have a leg up on your competition.
Things to Consider Before Pursuing an Online MBA
While online MBAs might be great for a certain class of students, they aren’t for everyone. You first have to make sure that you have the discipline and disposition needed to be an independent learner. While being able to take your classes when you want from wherever you want might seem like heaven for some people, finding the motivation to do so and follow-through can be difficult to some.
But one of the biggest issues with online MBAs remains their perception. However, contrary to what people think, there is no way for a recruiter to know that you’ve gotten your MBA online. At the end of the day, it’s all about the reputation of the institution you’ve gotten your MBA from.
This is why we strongly suggest that you favour programs from schools that already have a solid reputation from their regular program. This will allow you to benefit from the same prestige. You’ll get the exact same credentials as any other graduate, and have an advantage over those who got a regular MBA from a lower tiered school.
You also have to make sure that you check the program’s accreditation and perform due diligence. Going with a prestigious school will save you a lot of time, but it is your responsibility to make sure that the course is accredited by a reputable body in the jurisdiction it is located, and make sure that it has a good employability record as well. This is the only way you can ensure that it will be universally recognised and respected.
As you can see, online MBAs have tons of benefits that make them a great option, whether you were a budding or aspiring entrepreneur, or looking at the c-suite. Whatever you do, make sure that you have the character and temperament needed to succeed. But also make sure that you choose an institution that will allow you to enjoy the best learning experience possible and the credentials that come with it.
Originally posted 2020-04-28 20:17:40. Republished by Blog Post Promoter