Choosing the right MBA program

BY KAREN FROELICH

Master of Business Administration (MBA) programs across the nation are important investments for both businesses and professionals who want to advance their careers. Businesses require cutting-edge perspectives to stay competitive; they need employees with a solid educational foundation to make sound decisions. Yet early and mid-career professionals are at a very busy time in their lives, investing in career advancement while managing active personal and family schedules.

Recently, NDSU updated its own MBA program with the needs of the evolving business world in mind. As program director, I monitor changing trends and challenges that both businesses and employees face, some of which include:

Accessibility

Technology is increasingly used to make advanced business education more accessible. Virtual class attendance is possible from anywhere at anytime. While this type of access is convenient, it is important for MBA programs to ensure fully engaged, rich learning experiences that give employers advanced expertise and employees the promotability they desire.

Specialized Courses

It is common for MBA students to have undergraduate degrees outside of business, often engineering, medical fields or liberal arts. Therefore, acquiring strong expertise in core business fields such as accounting, finance, management and marketing is often key to improved decision-making on the job as well as personal confidence for advancement. Increasingly, specialized courses such as project management, organizational change, and supply chain and logistics offer appealing enhancements within MBA programs.

Additionally, experiential courses that include global business experiences, working with financial portfolio management or on a consulting team with community business-related projects also are more frequently becoming MBA electives.

Overall, maintaining a well-rounded solid business core with specialized courses while keeping the program concise and affordable can be challenging, but attainable.

Affordability

Keeping programs concise can assist with affordability. Strong MBA programs will maximize value with reasonable tuition costs to ensure a favorable return on investment. Oftentimes, affordability is and should serve as prominent decision criteria for MBA program selection.

Finding a Program

To find a high quality MBA program that fits both business and employee needs, look for:

Qualified faculty and accomplished peers. Conducting hands-on projects with exceptionally qualified faculty and accomplished peers ensures both knowledge and skill development.

Soft skills as part of the experience. Soft skills are important for making business decisions and skillful faceto-face interaction. Skills that are valuable to practice in an MBA program include quick thinking in fast-moving discussions, negotiation and cooperation in team settings and confident professional presentations.

Networking opportunities. A recent Graduate Management Admissions Council survey reports a majority of prospective MBA students consider the opportunity to network with fellow students and MBA alumni a valued part of their experience.

A good reputation. A reputable program and top accreditation (AACSB - Association to Advance Collegiate Schools of Business) is an important consideration for landing positions with top firms.

An MBA program is a big investment of time, effort and money for future payoff. Go all in and don’t shortchange yourself. It can work into your schedule through planning and persistence, even if you only take one class per semester. Before you know it, it is completed! PB

Nancy Froelich

NDSU Professor of Management, MBA Program Director karen.froelich@ndsu.edu Twitter: @NDSUBusiness