Alternatives and additions to the MBA
The MBA has spawned or influenced the development of other programs, many of which were devised because of a perceived gap in the management education market. In addition, with the number of MBA graduates growing exponentially over the years, the demand for even more advanced management qualifications has grown.
Alternatives to the standard MBA
One of the first MBA ‘spin-offs’ was the Executive MBA — a typically shorter, more intensive advancement course for senior managers who, lacking tertiary academic qualifications or other prerequisites, would normally be excluded from an MBA. Cynics refer to it as an MBA for those with little time and lots of money, while proponents see it as a niche program for senior managers who already know many of the things taught in MBAs but who can profit from some time out and a chance to interact with peers.
There are a number of other programs for managers, most at the masters level, including the Master of Management (MMgt), and Master of Technology (MTech), which is aimed at people from or wanting to work in engineering, manufacturing and similar industries. Others, such as the Master of Entrepreneurship and Innovation (MEI), are designed for people who intend to start new, innovative businesses or play a leading role in an innovative unit of an established organisation.
Beyond the MBA
Another development, for professionals who have completed an MBA or equivalent, is the Doctorate of Business Administration (DBA), the fourth and final step on a cumulative qualifications ladder. With over 20 now operating in Australia alone, the ‘professional doctorate’ has been touted as a worthy new academic niche by some, while others see it as an ill-conceived attempt to create a new trend in an MBA-saturated market. However, if you have the desire to pursue your studies in this field further, there’s no doubt that the DBA does present an opportunity to advance your knowledge in a way quite different from the PhD.
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