10 years ago, few people would have predicted that online classes would be as popular and recognised as they are today. We can now see a future where online MBAs could not only be a viable option to traditional programmes, but become more popular than their traditional counterparts. Online MBAs have greatly evolved over the years and have so much to offer. If you were thinking about getting an online MBA, now could very well be the best time to get one. Let’s take a look at a few reasons why.
Roll with Travel Restrictions
Maybe you’re in the country or overseas and are worried about not being able to study at the college of your choice if there are any new restrictions in the future. This isn’t an issue if you enrol in an online programme. If any more travel restrictions are being imposed on certain countries or within the country, you will still be able to attend your classes. This is great if you wanted to ensure stability and get your credentials as soon as possible.
You Will Graduate in a Recovering Economy
We’re already seeing glimmers of hope with mass vaccination, and those who will graduate in the next 2 to 3 years are almost guaranteed to do so while the economy is in full recovery mode. You will be there to meet the demand for administrators and be in a perfect position to take advantage of the upturn.
Not only that, but you will get an education that will be perfect for the challenges of tomorrow. MBA programmes are now placing more importance on lean management, data analytics, and supply chain management. These are all skillsets that will put you ahead of some older MBAs.
Great Opportunity to Network
One of the things that many people don’t realise is how great online MBAs are for networking. Even if you don’t get to see people face to face, there are other areas where online MBAs might be better than traditional ones in this aspect. The biggest one is the type of students they attract. Online MBAs will be attracting a lot of self-made business owners and international students over the next years, and that’s a chance to access brand new markets or learn from different perspectives.
More Options than Ever
Another great thing about online MBAs today is the number of available options. Most universities have online MBAs that replicate the live experience perfectly. Not only that, but you have all sorts of different specialisations available in addition to bridge programmes for people coming from related fields like engineering, for instance.
Online MBAs are also incredibly versatile and perfect for working entrepreneurs. With an online MBA, you can get your credentials from one of the country’s best schools without leaving your county, city, or even your home. This gives you the chance to get your MBA on your own time.
You could decide to take classes during the evening or on weekends. Certain programmes also allow you to follow lectures on your own time. These can be very convenient if you have a hectic schedule, but you won’t be able to benefit from live interaction, so keep that in mind if you’re considering that option.
You’ll Get the Tools to Survive in a Tough Economy
If you’re an entrepreneur, then you should be looking at ways that you can add to your expertise at the moment. The next few years will be tough for small start-ups and they will have little room for error. MBAs learn about more than how to manage a company. They learn how to manage supply chains. They know how to create contingency plans if there’s disruption. They understand how commodities markets work, and know how to use financial instruments to cushion costs.
MBAs are also better when dealing at the human level. They can hire without having to look for outside help. They also know accounting and some business law, so they are ready to deal with the constantly evolving and increasingly complex tax codes.
Getting an MBA as an entrepreneur could be the most important investment you’ve ever made. You’ll be able to run a tighter operation, and become more credible when dealing with investors or banks. You will need to get every advantage that you can in the future to secure financing and banks will be much faster to lend to someone with credentials. Another benefit is that you’ll be able to start applying principles as you learn them and increasingly become a better business owner as you go.
Online programmes have now officially become part of the mainstream and are highly regarded. It’s also important to note that there is no way for an employer to know how you got your degree. The most important thing here is the reputation of the school and its MBA programme.
You also have to make sure that the online MBA programme you choose is accredited by a respected body. The big 3 are AACSB, AMBA, EQUIS. If you see a programme with these three qualifications, you’ll know that it will be recognised virtually anywhere on the planet. It will also ensure that your credits will be transferable.
Businesses are Looking for People to Lead During Uncertain Times
While the relevance of the MBA was being put into question in certain circles over the last few years, businesses are recognising the importance of having managers who have this skill set today. Future leaders need to be ready to deal with unexpected events and changing realities.
While those who didn’t have an MBA may have had trouble moving to a remote workforce, MBAs were already well-versed in lean management and were able to transition seamlessly. Those who understood the fragility of supply chains had already diversified theirs way before the pandemic, which allowed their companies to continue their operations smoothly. MBAs are great assets in times like these and will be in great demand as a result.
As you can see, there are tons of reasons why getting an online MBA could be a great decision. This goes whether you’re a business owner, someone trying to seek advancement, or a student looking for a great option for the future.