What is an MBA? The MBA formula was established early in the twentieth century and survived largely unchanged well into the 1950s - two years of full-time study aimed to give new graduates a basic preparation for life in corporate America. The formula included 'foundation' units (accounting, business statistics, economics) delivering quantitative skills followed by integrative studies in business strategy, general management and the like, and then electives and specialisations to provide some focus on particular skills or industries. After the Second World War, the MBA went global, as admiration of US 'know-how' reached its zenith. From the 1960s, the MBA assumed in Europe the semi-cult status reached earlier in the US. There are now around 2500 MBA programs from more than 1300 universities and management colleges in 126 countries worldwide. Australia was slow to join the rush, offering its first full-time MBA program in 1963 at the universities of New South Wales, Melbourne and Adelaide, but is making up for lost time. There are close to 35 853 MBA enrolments in Australia today, and the numbers are much greater if we include those in MBA pathways (graduate certificate and graduate diploma programs). However, very few of the 85 plus Australian MBAs on offer can claim to have maintained the so-called 'classical' shape. Nowadays, there are five ways of studying the MBA, although not all programs offer each mode of study. They include full-time, part-time, external (distance education), via the Internet, and mixed mode - a combination of external and on-campus study, usually involving face-to-face work through special intensive sessions of a week or more in duration. While few Australian MBAs accept new graduates, the Australian MBA is no longer a mid-career option, but one often taken towards the start of a career. Most Australian business schools record an average full-time student age of mid to late 20s. Part-time students tend to be older, at an average age of over 30. While some practising managers are looking for the kind of general overhaul and upgrade traditionally provided by the MBA, many want to get down to the specifics of their present or future job. MBAs now offer specialisations including logistics management, human resource management, health services management, accountancy, agribusiness, association management, local government, trust administration, and more. Most Australian MBAs also accommodate their practitioner students by teaching the craft as well as the tools of management. Syllabuses emphasise organisational behaviour, group dynamics, and human communication. Projects and assignments are undertaken by groups as often as by individuals, providing training in teamwork as well as material for analysis of group processes. The clientele of Australian MBAs has also shaped entry requirements. Only three Australian MBAs require a GMAT (Graduate Management Admission Test) score for all candidates (the Australian Graduate School of Management, the Graduate School of Business at UTS, and the Melbourne Business School). Other business schools that mention preference for a GMAT score include Bond University, Charles Sturt University, Curtin University of Technology, and University of Notre Dame. Generally this is used as an optional extra or for those who do not meet other academic requirements (e.g. no previous degree). Most offer a 'soft' entry option via a graduate certificate. Likewise, the market has adjusted to the needs of senior managers, many of whom joined the workforce before university-level study was common. 'Executive' MBAs demand senior management experience rather than academic track record, and charge a top dollar for heavily customised programs which emphasise interaction with peers and senior academics, and organise study into bite-sized intensive sessions and work-based projects. What is an MBA? What is it? The MBA is a Masters degree in Business Administration. The MBA differs from other masters degrees in that it includes a lot more practical work on transferring the academic theories of the courses into a set of tools or capabilities that MBA holders can use in the real business world. In the context of an MBA the word 慳dministration?refers to the overall management of ALL aspects of the firm抯 business! Why do you need a first university degree? The MBA is normally available only to those who have a first or undergraduate university degree. By insisting on a first university degree as a minimum entry requirement, the Vlerick MBA is one of very few programmes that can depend on a high level of academic competence across the participant group. And why three years work experience - as a minimum? The Vlerick MBA is delivered in three broad stages: a comprehensive study of academic theory; how this theory can be applied in the real world and, finally, participants use the theory 憃n-the-ground?during the in-company projects. During the second phase programme participants draw on their own professional histories to discuss how the theory could be applied. The richness of the experiences contributed during these phases depends therefore on the range of real-life work experience and observations of our participants. Hence we have established a minimum work experience requirement of 3 years (preferably with some supervisory experience within that time) for participants. How long will it take? Full-time, one year: A full-time MBA can be completed in Europe in about one year. Starting each year in August, in Leuven, the Vlerick MBA usually has 20 academic courses and an in-company project. A series of seminars throughout the year encourage integration and reflection. The seminars also deal with leading edge management subjects. Part-time (Executive), two year: The Vlerick MBA is also delivered in our campuses in Leuven and Ghent on a part-time basis over two years. Please go to http://www.vlerick.com/education/mba/parttime_mba_en.htm for more information.