Florida Tech University recently launched a mini MBA graduate certificate program in management. The courses in the mini MBA program will provide students with a broad understanding of the business sector as well as a knowledge of the leadership and management skills decision making and problem solving require.
What is a Mini MBA?
What is a mini MBA you say? Well, I wasn’t aware of exactly what it was either, so no worries. When I hear mini MBA I think of a degree that is half the size of a regular MBA. A pocket MBA if you will. One that will fit in your evening bag. But alas, they are a little more complicated than a cute accessory.
According to BusinessWeek, these “quick-hit” business education programs, commonly referred to as “mini-MBA” programs, have proliferated at business schools across the country in recent years. Rutgers was the first school to do this and coined the term mini MBA with a 12-week “no-frills” program they did. The classes, which typically range in price from $2,000 to $4,000, are designed for middle managers who often don’t have a business background or MBA, but want to get a better grasp on business essentials to help them progress in their careers. They also frequently serve as a testing ground for people who are not certain they want to invest the time or money in an MBA, which can take two years or more and cost upward of $100,000.
Where are they offered?
In recent years more business schools have started offering mini MBA programs through their executive education programs. Classes usually are taught by MBA professors who, in a few days or in a month or two of evening courses, give a condensed overview of the major topics and concepts taught in full-time, two-year MBA degree programs. Students generally receive continuing education credits for the classes, though some schools allow them to earn credit hours toward a degree program. In most cases, tuition is paid by an individual’s company, but increasingly schools are seeing more students pay for the classes out-of-pocket. They are also often offered online.
They aren’t always called mini MBA programs because some people in the business education community don’t want people to think they are receiving the equivalent of an MBA degree, rather than a continuing education course. Though I think people are well aware of that when they find money in their bank account two years later. They may be called Business Acumen programs or Business Bootcamps.
What is the goal of a mini MBA?
The goal of these programs is really to fill in the areas where people have gaps in management and knowledge for a cheaper amount of money and time (usually about $3,000. With a big MBA you are looking atup to $120,000 for a two-year degree.)
But what does a mini MBA really mean or how is it viewed?
Do you get extra credit for opting for no frills and saving some cash? Well the folks over at WiseBizz, would like to remind us that the mini MBA is NOT an MBA. “You do not get the letters MBA after your name and you do not get to use it on your CV in anywhere other than “training courses”. However, that does not make the mini-MBA a waste of time, because what it does signify is a respect for what a full-blown MBA actually is. It allows you to learn some of the skills you would get in a full-blown MBA or it would allow you to take some of the courses that you would take on a full course but without giving up so much time in your life.” Plus it is also good for determining whether you want to pursue a full-time MBA or not if you were on the fence about it. But as we have discussed a real MBA will get you those priceless connections and name recognition, if you go to a top school.
Who is the mini MBA especially useful for?
A mini MBA would be especially useful for someone who is working at a company but doesn’t want to take time off to do a full MBA course and also doesn’t want the stress of taking a full part-time MBA at the same time as working. But they feel the need to get new aspects of business administration under their belt to help their career. Sometimes their company asks them to and will pay for it. McKinsey sends many of its non-MBAs to a three to fourweek mini-MBA boot camp to learn the most important tools and concepts. An MBA is designed to help you speak the language of business. A mini MBA can help you do that. Not the same as an MBA but it is a solid start. Other mini-MBAs are taken by people who want to pick up business administration skills in order to start their own business. They may not have the time to do a full MBA course or cannot do a part-time MBA course with all the time that they need to run their company.And like a real MBA a mini MBA can be used in many industries such as banking, consulting, biotech, pharmaceuticals, oil and gas, telecom, utilities, marketing, etc.,
Mini MBAs are not accepted by every part of the business community but they have provided many people the opportunity to gain a further education for only a fraction of the cost which in turn aids them in getting a better job. Though they are called mini they can have a big impact.