Alternates to an MBA

I often ask myself how many styles of MBAs are on offer? The leading formats are full-time, part-time, executive, global & international and finally online versions all priced for different market segments.

Then there are general MBA programs or you can choose from specialised programs in management, finance, marketing, human resources, operations, entrepreneurship, accounting, supply chain management, information systems, accounting and media/communications.

No longer does a candidate have to undertake a full-time two-year course losing two years of income and other opportunity costs - there are now plenty of options.

The ambitious career orientated individuals considering an MBA may also seek alternative options to full-time business school but might not be just related to part-time and executive MBA courses.

Top business schools are running short intense customised programs specialising in leadership, strategy, value creation, strategic innovation, communication and technology.

The online courses from Stanford Online, HarvardX, Cousera, edX and a host of business schools provide excellent online content in short courses.

For me, the obvious choice would be to engage in entrepreneurship; there are of course entrepreneurship specialisations and the real purpose of an MBA was to prepare professionals for a broad business education.

Developing an idea into a start-up business is very rewarding and can start as an idea generated in an entrepreneurship class or even during a case study presentation.

Gaining a specialised master's degree in a business related field such as logistics, operations, accounting, finance, human resources or strategy gives the candidate the opportunity further excel in their chosen field. They tend not to carry the premium that a fully fledged MBA costs.

Project management is a growing field but I have always felt an individual needs to have a technical background and only then learning management as their specialisation. Leadership is also a growing area but I never thought much of specialising in the area.

Potential candidates have the opportunity to enroll in an undergraduate bachelor program such as a Bachelor of Commerce or Bachelor of Business but I still view the Master of Business Administration as the ultimate business qualification that carries more weight.