Very critical questions should be raised before choosing an MBA program.
Is it Harvard, Yale, or Stanford, which one? These are some of the globally well-known business schools. Their MBA programs are considered the best in the world, but this statement should be evaluated and broken down into small pieces. Then the process of matching up these pieces with anyone’s characteristics becomes explicitly easier. First, a best business school is not the only way to succeed in business. If it is, there would not be admired successful stories, such as the story of Michael Dell. Second, the term “best school” does not mean perfect nor does it mean suitable to anyone. What fits x does not necessary fit y. Of course, this evaluation needs not to be understood as a way of undermining such prestigious schools. On the contrary, it, in effect, concentrates on the individual’s needs to reach a school that is a best for his/her potentials. It is imperative, when considering an MBA program, to take into account, at least three of these key factors: accreditation, curriculum, faculty, and price.
While there are hundreds of MBA schools, there are only about 450 schools that are accredited by the Association to Advance Collegiate School of Business (AACSB). This not-for-profit organization collects data from business schools, after a given school requests to be accredited, in order to analyze them. Then, the organization gives some necessary recommendations, if there is any, to the accreditation-seeking school to follow and to become eligible. In fact, AACSB helps MBA prospective students by listing out business schools with a high quality education. One may say 450 is a huge number. Indeed, it is a very big number, but it is only the start.
Most MBA schools, if not all, have concentrations or emphases, such as, finance, marketing, or accounting. Lo and behold, this is not what the curriculum is all about. It is highly desirable that an MBA program contain a real-life experience. Some schools require their students to do an internship during the summer for the sake of applying what the students have learned. Others take their students in business trips to local or national renowned companies. Both of these techniques would vigorously enhance MBA student’s business skills.
A full-time faculty versus an adjunct one is a hot topic. The former fully focuses on the course, but he/she may lack some of current business issues, while the latter shares with the students his/her day-to-day experience from his/her full-time job, but he/she may get distracted because of that job, which may affect the teaching performance. In fact, both of them are distinctively helpful. A good school should manage to keep balance between the two categories.
Since money is essential to every plan, it is no exception for MBA school-choosing process. Cheaper or less expensive school may be tempting, but in choosing cheap schools, one has to sacrifice some important things, such as university’s facilities. On the other hand, expensive schools tend to take care of themselves in terms of sophisticated buildings, library’s cutting-edge resources, and devoted professors.
Last but not least, a good choice should, if not must, seek the quality of the program, curriculum with practical and theoretical courses, various faculty expertises, and a reasonable tuition. Putting all these points into consideration, the number of schools will be as fewer as the fingers of one hand.
