A Modular MBA program combines on-site classwork with distance education activities to create a comprehensively flexible academic program that is perfect for busy professionals.
Modular MBA Programs
Modular MBA degree programs offer the best of different academic approaches, according to Harvard Business Review. They borrow the traditional content of MBA programs, but alter the structure and learning methods. Modular MBA programs revolve around scheduled residential study periods, such as weekends, and also include online webinars, discussions, assignments and research projects. These holistic academic programs result in an education packed with all business essential elements a student will need to excel in their career. When selecting a Modular MBA program, be sure to choose one that has an appropriate balance between on-site classes and off-site assignments.
What are the Advantages?
Modular MBA programs are designed according to the principles of flexibility, efficiency and functionality. Thus, these programs are created to save time and energy. From a business perspective, Modular MBA programs have a limited opportunity cost. That is, full-time MBA students may lose up to two years of a full-time salary and may miss opportunities for raises and promotions. However, Modular MBA programs allow students to minimize these risks. Students will also have the opportunity to apply their recently acquired academic theories into practical, on-the-job knowledge. Many corporations prefer Modular MBA programs, because their employees will continue working part-time and there will be less conflict with employment schedules and obligations.
What are the Disadvantages?
There are certain disadvantages to a Modular MBA program. For instance, many part-time MBA students experience a lack of support and structure. Modular MBA programs are best suited for students who enjoy working without supervision. Other students feel they miss out on valuable networking opportunities that traditional, full-time MBA students receive. Therefore, modular MBA degree programs are a good choice for students with an established career and professional network. Because of the lax structure, students may take a few extra years to complete their program. Finally, certain schools tend to assign popular faculty to large classes with full-time students, so students should verify the faculty’s backgrounds before enrollment.
Modular MBA programs focus on core sets of skills and competencies that managers will need for different business cycles. One module may focus on operations management and provide students with the strategies for supervising day-to-day operations and functions of business. Students will learn how to create and maintain quality, corporate and customer service standards. Another module may teach students how to identify and develop new products and services. This module will explore the complex research, marketing and financial processes involved in launching a new product, service or business venture. A leadership module will test the student’s potential and effectiveness as a leader through interactive assignments. This module will present the different aspects of leadership, such as mentoring, coaching, directing and strategizing.
As a closing point, other popular Modular MBA parts include business environments, which addresses things like globalization and technology changes, and strategic planning, which addresses HR and financial issues.