An MBA is a much sought-after qualification for many working professionals as it can open the doors to leadership positions and promotions. An MBA from an Ivy League institute is considered valuable because the curriculum is well-researched and contemporary and is delivered by highly qualified faculty. Very few traditional MBA courses are able to provide that kind of value while also requiring you to spend two years fully committed to the course.
For a sizeable number of working professionals, one of the best alternatives to an MBA programme is doing an online MBA instead of a traditional one. This enables them to keep their day jobs while completing an MBA programme. An online MBA programme dives deep into digital technology and data science and provides students with a future-ready education. Few traditional MBA courses can match the curriculum and faculty provided by premium online MBA courses and, as such, they are effective MBA alternatives.
The alternative MBA
Studying with clear deliverables and with the most advanced digital tools is surely one of the MBA alternatives that must be considered by aspirational professionals. It must be noted that just as offline MBAs differ in the quality of the curriculum, so do MBA alternatives. For example, a regular online MBA course may not teach concepts such as the Albert Mehrabian communication model while a new-age online MBA programme may do so. You should compare all the MBA alternatives available to you before deciding which course to pursue.
Tailor-made for working people or those committed to their family business, an online MBA resolves many of the shortcomings of a traditional MBA. The online version has all the main features of the traditional curriculum and yet is more future-ready. It lays emphasis on data science and inculcating an entrepreneurial mindset.
An online MBA is developed using the best pedagogical tools to ensure it is a stimulating experience. The programme is very outcome-based in terms of learning soft skills. An online MBA also kindles the entrepreneurial spirit because it requires the participant to deliver on their own.
Alternative MBAs can be said to be popular among participants, faculty, academicians, and recruiters for several reasons. Some of the traditional MBA programmes offer quality education, but may not be able to source the best faculty, engage with unicorns or deliver an impactful programme. This can put off prospective students especially since traditional MBAs also require you to quit your job and study full-time. In contrast, the alternative MBA does not require you to risk your day job. In fact, many companies encourage their employees to opt for an MBA alternative to develop their skills.
Advantages of online MBAs compared to traditional MBA
There are many reasons why even people who get admitted into a traditional MBA course would opt for an online MBA alternative. An online MBA has several advantages such as:
- It allows you to keep your job. One of the reasons to opt for this alternative MBA is that it does not require you to give up your job. In a volatile job market, it may be a better option to keep your job and look for opportunities within that field.
- It helps you imbibe lessons better because you can see the relevance of what you are learning in the workplace. Compared to those studying for an MBA full-time, a working professional has the opportunity to practice what they learn in the workplace. They can understand their lessons better as they understand how their organisation or industry is part of the big picture.
- The learning process itself is designed to upskill you for today’s digital era. An offline MBA programme may not employ digital technology the way an online MBA course does.
- Learning from the best faculty across the world is made possible through an online MBA alternative as students and teachers can log in from anywhere. There are just a handful of offline universities that can physically gather the best faculty from across the world for their courses. The quality of the faculty remains one of the key factors in the success of an MBA programme.
- There is an increased presence of technology companies and high-performing corporate houses in the placement process for an online MBA programme. When a technology-driven platform offers an online MBA course, it attracts interest from companies that are driven by data and technology, and graduates will invariably end up getting placed in some of the best data-fuelled companies in the country.
- It is cheaper. Traditional MBAs are expensive in two ways. They limit you from working a job and also charge higher fees. This is a strong reason to consider an MBA alternative.
- Some online MBA programmes are designed with deep thinking going into every aspect. For example, the Harappa School of Leadership offers an online course that teaches students the fine differences between verbal and non-verbal communication.
There are many reasons why we need to consider MBA alternatives. Many working professionals cannot afford to opt for a traditional MBA for obvious reasons such as loss of income and being away from family. Apart from this, an online MBA being devised for the digital era has many advantages that a traditional MBA just cannot match up with easily.
The online MBA is future-ready and educates participants in the key skills of today, such as data science, entrepreneurship, leadership and soft skills. Keep in mind that just as all traditional MBA campuses are not the same, all online MBA courses do not necessarily provide a well-researched, robustly delivered programme. It is necessary to do your research before you decide on an MBA alternative to complete.
Visit the Harappa School of Leadership (HSOL), an online learning institution of the future that blends time-tested pedagogy with innovative learning experiences and byte-sized content tailored to the busy lives of professionals on the go.