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What is an MBA?

What is an MBA?

The reasons for advancing a business career by earning a master’s degree are as unique as the people wanting to do so. An undergraduate student who wants to transition right into a master’s program to start their career with more opportunities; a working professional who feels stuck in their current position and wants to prepare for upward mobility; the parent who wants to have more earning potential; the entrepreneur who dreams of starting their own business; the leader who needs the training to enhance and showcase their skills for career advancement; the person who realizes they are in the wrong industry and is ready to pursue the education needed to switch careers. Whatever your reason for seeking an advanced business degree is, the most versatile, highest paying, and most sought-after credential is an MBA. 

What Does MBA Stand For?

An MBA is a Master’s in Business Administration. It is the gold-standard for business professionals who want to take their leadership skills, business acumen, and earning potential to the next level. Business administration is generally defined as managing an organization’s people, time, and resources to achieve the highest efficiency, effectiveness, and profit. Because this involves a wide range of knowledge and skills, an MBA provides broad management training in such business disciplines as marketing, economics, finance, management information systems, accounting, and business strategy. Ottawa University knows that a good understanding of the human factors that impact business is imperative for successfully leading in a diverse, constantly changing workplace. That’s why our MBA students receive training in organizational behavior and theory, professional ethics, value systems, and corporate communication.

Why Get an MBA?

You may be on the fence about whether earning an MBA is worth it, or whether you will get a positive return on your investment. There are a number of things that may help you finally take the plunge and go back to school.

  • Versatile Career Opportunities

Holding an MBA opens doors to diverse job options because of the broad training in core business strategies and skills. Program concentrations provide the opportunity for a business specialization that will increase those options further. According to Indeed, the following are some of the careers available with an MBA degree, usually in an office setting:

  • Accountant
  • Investment banker
  • Logistics manager
  • Operations research analyst
  • Marketing manager
  • Business operations manager
  • Financial analyst
  • Human resources manager
  • Health center manager
  • Purchasing manager
  • Budget analyst
  • Policy analyst
  • Sales manager
  • Consultant
  • Project manager
  • IT manager
  • Business intelligence analyst
  • Product manager
  • Chief executive officer
  • Chief financial officer
  • Entrepreneur/Business Owner

If you prefer not to work in an office setting, you might also be able to find jobs in such industries as retail management, hospitality management, construction management, sports entertainment, or client-facing sales.

  • High Paying Salaries

While salaries of those with an MBA are higher than most, your salary is also highly dependent upon your position and experience level. The Bureau of Labor Statistics reports an average manager salary as $103,650. For chief executives, it rose to $185,950. The overall employment of top executives is projected to grow 8% from 2020 to 2030, which should leave about 247,100 jobs open.

t any standard, then, the return on investment for earning an MBA is high, whether that school’s tuition cost is in the $30,000 range, like Ottawa University’s, or upwards of $100,000 from ivy league or top-ranked schools. According to the National Center for Education Statistics, the average tuition for a two-year graduate degree is $38,628. This does not take into consideration any financial aid or transfer credits, which would greatly reduce your overall costs.

  • Acquiring Soft Skills

Ottawa University’s Master’s of Business Administration, develops critical soft skills that employers are looking for when hiring business administrators, as well, such as adaptability, critical thinking, emotional intelligence, and leadership. Research shows that most employers believe that soft skills are a critical indicator of a new hire’s success. In fact, Ottawa University’s capstone course provides students with the opportunity to use newly acquired skills in a real-life application by developing a major case study of business administration issues, programs, and policies in a current organization.

Skills developed through an MBA will help business administrators become good leaders and effective communicators, as well as learn how to establish effective working relationships with many different people, ranging from managers, supervisors and professionals to clerks and other workers. Future business leaders will learn how to coordinate several activities at once, quickly analyze and resolve specific problems, and cope with deadlines through this graduate degree that is an important factor in reaching senior management ranks within most companies.

  • Gaining Crossover Skills

Earning your online MBA from Ottawa University gives you the ability to transfer the skills learned in the program to a wide range of applications, not only in the business world, but also in everyday life. The knowledge gained can help when making purchasing and investment decisions, understanding global economic issues, resolving conflict in personal relationships, networking with other business professionals, and increasing your overall emotional intelligence. In short, it will make you a more well-rounded individual and effective leader in every aspect of your life. reasons to get an MBA.

How to Get an MBA

MBA programs abound, and it can be confusing when trying to find one that is both credible and affordable. The first place to start is to find an accredited program. Ottawa University’s online MBA is recognized by both the Accreditation Council for Business Schools and Programs (ACBSP) and the Higher Learning Commission (HLC).

Another thing to consider is the flexibility of the program. Some students prefer to enroll full-time to pursue their MBA so they can have diploma in hand in two years or less, depending on how many courses they take concurrently.

The reality is, however, that the majority of MBA seekers are adults with jobs, making it easier to earn their degree online on a part-time basis. That does not mean that they can’t realize their educational dream in a manageable timeframe, though. For example, Ottawa University offers a three-module, 36-hour master’s degree program that can be completed 100% online. Like all of the graduate programs offered by OU, the MBA is fast-tracked with flexible eight-week terms - six terms per year - allowing you to take courses at your pace and with the ability to take more than one course per term.

Online MBA Degree

The core curriculum of OU's online MBA emphasizes a global perspective on business, communication skills and direct application to your current and future career goals.

Module 1 - Behavioral Courses (6 credit hours)

  • Organizational Behavior and Theory
  • Value Systems and Professional Ethics
  • One course from selected concentration

Module 2 - Core Courses (15 credit hours)

  • Strategic Marketing
  • Managerial Economics
  • Managerial Finance
  • Management Information Systems
  • Management Accounting
  • One course from selected concentration

Module 3 - Capstone Courses (3 credit hours)

  • Graduate Seminar: Business Policies and Strategy
    Case study of business administration issues, programs and policies in a current organization

The Importance of MBA Concentrations

MBA concentrations are also a valuable component that help equip you for a more specialized area of business that often leads to increased job opportunities and higher wages. Concentrations allow you to focus on an area of expertise that best fits your goals, skill set and interests.

Ottawa University offers the following MBA concentrations to help personalize and propel your business career.

 

Accounting
Business Data Analytics | MBA in Data Analytics
Finance
Human Resources
Leadership Development
Health Care Management
School Business Operations
Strategic Innovation

 

Ottawa University’s Online MBA

If you are ready to advance your career in the exciting world of business, an MBA is a major component to finding a job with more management responsibility, being offered that promotion, and increasing your earning potential. Get started today with Ottawa University’s Master of Business Administration degree!

Posted: 11/09/2021 by OU Online
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