The Master of Business Administration has been among the most popular graduate degrees in America throughout the 21st century. And now, Master’s Programs Guide places the MBA near the top of its list of the 50 Most Popular Online Master’s Degrees 2020.
The online MBA’s popularity has driven development of many respected programs, including specialty MBAs with curricula in a diverse range of concentrations. Regardless of the many specialties, consensus has emerged among colleges and universities regarding the standard core courses students need in order to obtain the fundamental skills essential in today’s business landscape.
What Is the Standard Core Curriculum for a General MBA?
Analysis by B Schools found a half dozen nationally ranked MBA programs that favor a handful of subjects to form a core curriculum. Students can expect to take these required courses early in almost any MBA program, general or specialized.
Finance
This course covers the basics — principles of corporate finance, standard analytical techniques and skills, functions of financial institutions and capital markets, capital budgeting, cash flow valuation and risk analysis.
Learning outcomes include a thorough understanding of the fundamental principles and analytical techniques and skills required for leadership in financial management.
Marketing
Basic marketing courses lay a foundation of concepts for business professionals to apply as they analyze, prepare and evaluate marketing plans.
Students should expect to master a wide range of key skills such as market analysis and strategic planning, which requires knowledge of the behavioral sciences, awareness of social context, the competitive environment, and familiarity with segmentation, branding, pricing, distribution and promotion.
Accounting
Accounting is a core MBA course because accounting reports tell the financial story of any business, from mom-and-pops to multinational conglomerates.
Basic MBA accounting courses are constructed to help students understand how businesses use financial accounting and reporting to drive decision-making. Students gain an understanding of the limitations, functions and challenges of financial accounting, and the procedures and processes of financial accounting reporting practices. Students also acquire the ability to knowledgeably consume financial information and analyze it.
Leadership, Teamwork, Management and Organizational Behavior
The inter-relatedness of these four subjects emerged as emphasis on human resources shifted to organizational leadership skills.
MBA programs in leadership help students gain techniques for directing an organization’s human capital, as well as for strengthening personal leadership effectiveness, style and capabilities in organizational strategy and negotiation. Courses cover the relationship between effective leadership and effective communication, both personal and public. Students become better speakers through developing and delivering presentations.
Economic Statistics and Operations
Economic statistics involves analysis of economic data. A core course helps MBA students master the theories, techniques, testing and analysis to provide a solid foundation in probability and statistics. Economic analyses provide companies and public entities key inputs for making decisions regarding economic policy.
Operations involves aligning an organization’s processes to achieve effective production or service delivery. In a core MBA course, students learn operations strategy, process design, capacity planning, facilities location and design, forecasting, production scheduling, inventory control, quality assurance and project management.
Business Accountability and Ethics
Following the Enron disaster and the Great Recession, business schools remain dedicated to teaching future leaders how to integrate social and environmental issues into their professions.
Ethics courses equip business leaders to respect social and environmental issues while supporting the competitive drive and promoting their respective companies.
Have Institutions Accepted the Standard MBA Curriculum?
Many colleges and universities model the MBA curriculum identified in the B Schools analysis. Northern Kentucky University’s online MBA program aligns closely with the standard curriculum. The essentials courses in NKU’s program are:
- Financial Management in Organizations
- Accounting in a Corporate Environment
- Marketing in Organizations
- Managing in Organizations
- Strategies for High Performing Organizations
- Operations Management
- Legal Environment for Business
- Intro to Info Systems in Organizations (while NKU requires this course, the standard curriculum does not)
Learn more about Northern Kentucky University’s online MBA program.
Sources:
CBS News: America’s Most Popular Graduate Degrees
Master’s Programs Guide: Master’s Programs Guide Rankings
Master’s Programs Guide: 50 Most Popular Online Master’s Degrees 2020
B Schools: What Is a Typical MBA Program Curriculum?
Access MBA: A Close Look at the MBA Curriculum
