Executive MBA Education is the term used for programmes at graduate-level business schools that aim to give classes for Chief Executives and other top managers or entrepreneurs. Executive education developed in the 1980s and 1990s, as the increasing pace and scope of global business demanded higher levels of education among employees.
As per estimates of New York based BusinessWeek magazine, Executive Education in the United States is approximately a $800 million per year business, roughly 80% of which is provided by universities (mostly business schools).
Top tier management institutes and universities like the IIMs, XLRI, MDI, ISB, SIBM, NMIMS have recognized this need-gap and have launched several executive education courses. Executive MBA education programmes can be classified on the basis of duration and delivery mode.
Executive education as management and business programmes is meant for working professionals. The mode of delivery can be on-campus, online or a combination of both modes (hybrid). Also the duration of executive education programmes can vary from 12 months to 3 years. But the common thread remains – these programmes are meant for executives who want to learn new skills and move up the hierarchy.
Criteria to choose the relevant MBA programme
Course Duration of MBA executive programme can run from 12 months to 3 years. You are supposed to choose your preferred one.
You should know well before choosing the relevant course whether it is MBA degree programme or PGDM diploma programme. University or university affiliated institute will award MBA whereas other institutes will award PGDM. You have to choose carefully as IIMs also do not award MBA but PG Diploma.
Fee structure for different executive MBA programmes can run from few thousands to hefty lakhs of rupees. Full time executive MBA can cost Rs. 20 lakhs and more from a very good institute but the distance, part time or e-learning MBA can be completed by spending only a few thousand rupees.
Type of Programme depends on the availability of time and interest of the candidate which programme he prefers. If you can spend more and can do hard work, you may choose full time 12 months MBA else may go for other programmes.
Quality of the programme offered by the Institute is one of the important criteria. There are top rated institutes like IIM A, B, C and ISB whose executive full time programme are matchless. Then we have highly ranked institutes like NMIMS, MDI who offer top quality and well accepted executive programmes. There are other good universities and institutes who also offer different recognized executive MBA programmes like full time, part time, distance, e-learning. Renowned institutes offer excellent learning with high career progression. The choice accordingly also depends upon where you are able to find the admission availability.
Another important parameter is the admission process in the management institute. The admission process to full time executive MBA is more rigorous and needs high score in CAT, XAT, SNAP, GMAT whereas admission to other programmes can be explored in accordance with the prescribed criteria of the institute which may not require good score or any score in the entrance exam.
Executive Education options
Full-time Executive MBA
Full time Executive MBA education is full-time post-graduate programme for experienced professionals and is meant for working executives. The one-year full time MBA was introduced in India by the Indian School of Business (ISB) in 2001. Other top B-schools including Indian Institutes of Management (IIMs) launched the full time executive MBA afterwards
Programme Duration: 12 months to 15 months.
Programme Delivery: Full time residential class room programme
Fee structure: Rs.15 lakhs to Rs.30 lakhs
a) Valid GMAT/CAT score as required by the institute
b) Minimum required work experience of 2 to 5 years
Top Institutes: IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Lucknow, IIM Indore, ISB Hyderabad & Mohali, MDI Gurgaon, SPJIMR Mumbai, IMI Delhi, NIIT Imperia Centre for Advanced Learning among others.
2 year Distance Learning MBA
The basic difference between a Regular MBA and a Distance Learning MBA is that of the classroom study. Regular class room study is mandatory for regular MBA whereas in Distance Learning MBA there is no compulsion for classroom study. Even a student from a far flung area can go for Distance MBA offered by well known Universities
Programme Duration: 2 years
Programme delivery: ICT Drive Pedagogy no need to attend classes. Course is delivered via E-learning, online chats with professors, Video Conferencing, CD’s and DVD’s provided by the institutes, online (digital) library among others.
Fee structure: Rs.30,000 to Rs.1 lakh
a) University/Institute based admission test
b) Graduate in any discipline with or without work experience
Top Institutes: NMIMS Mumbai, Symbiosis Pune, IMT Ghaziabad
Part time executive MBA
Part time executive MBA program is distinctively designed for the working executives, entrepreneurs and professionals. The programme provides unique advantage of learning while you work. Since working professionals do not wish to discontinue their careers and spare 2 years for pursuing full-time MBA programme, PGDM (Part Time) is the best option as it provides them the opportunity to pursue their jobs and take up formal management education with same rigour as that of full time MBA programme.
Programme Duration: 2½ years to 5 years
Programme delivery: Study material + weekend class room sessions
Fee structure: Rs.2 lakhs to Rs.5 lakhs
a) University/Institute based admission test
b) Graduate in any discipline with 2-3 years of work experience
Top Institutes: MDI Gurgaon, NMIMS Mumbai, Symbiosis Pune, K J Somaiya Mumbai, IMT Ghaziabad
E-learning MBA is a professional development right at your fingertips as it recognises the constraints of being a business professional in a demanding industry. You can get connected to course delivery from anywhere in the world.
E-learning MBA is designed to adapt with your lifestyle and help fulfil your potential. Top B-schools deliver these courses on various e-learning platforms using e-texts, web seminars, podcasts, online library. Tutors of the institute support and provide feedback through discussion forums, email, live chat, telephone and Skype.
Top Universities/institutes have partnered with key players offering online learning platform to provide MBA e-learning courses. A few of such education providers are Hughes Global Education; Talentedge; NIIT Imperia Centre for Advanced Learning; Pearson among others.
Programme Duration: 12 months to 15 months
Programme delivery: Online Interactive Learning
Fee structure: Rs.10,000/- to Rs.50,000/-
a) Bachelor’s degree
b) Work experience of 2-3 years and more.
Top Institutes: IIFT Delhi; IIM Calcutta, XLRI Jamshedpur, IIM Bangalore, IIM Kozhikode, IIM Rohtak among others
The acceleration and convenience offered by different executive MBA programmes of top institutes is making the programme more attractive among working executives.
Effective Time Management
Full time 2 year MBA needs 2 years of class room study. While the Executive MBA of 12 months is an accelerated MBA programme with all the ingredients of full time MBA, Distance MBA lends flexibility of time.
Part time MBA can be completed with weekend classes and the e-learning needs no physical presence in class rooms as the student gets the learning through different on-line resources.
Cost effective Option
The fee structure of various executive MBA programmes can go in the range of few thousand rupees to lakhs of rupees depending upon the type of MBA, the aspirant is opting for. Although full time executive MBA is costlier than regular MBA, one of the biggest advantages of the Distance MBA programmes; E-learning MBA or Part time MBA is its low fee structure. Regular MBA fee is typically many times the fee of a Distance, part time or e-learning MBA.
ICT driven Pedagogy
Full time or Regular MBA is a face-to-face instruction medium. Students need to go to the classrooms and attend classes, whereas in Distance MBA, there is nothing like a frequent classroom study. Various ICT (Information Communication Technology) methods are used for delivering a good Distance MBA. Distance MBA institutes use technologies to fill the gap between Regular MBA and Distance MBA. The various Education Technologies being used by the eminent Distance Learning MBA Institutes today include E-learning, online chats with professors, Video Conferencing, CD’s and DVD’s provided by the institutes, online (digital) library among others.
The reading material, e-learning and personal contact programs create a hybrid learning environment for students. Increased use of latest technology for the delivery of lectures, online study material, online assignments and online examinations in distance management education has made it convenient for working professionals as they do not have to attend face-to-face lectures, read printed study material, submit offline assignments and appear in offline examinations.
Industry relevant MBA
Full time Executive MBA, Distance MBA, e-learning MBA or part time MBA, all fit perfectly with the needs and aspirations of the individuals as well as the Corporate sector. According to management experts these MBA programme offer a unique opportunity to the people who are working, to pursue higher education and upgrade their skill sets. The companies also stand to gain as the learner, though not studying in a conventional model, keeps himself abreast with the new and innovative practices in Management through the various modes of learning.
Recognized by Regulatory Bodies
Executive, e-learning, Distance or part time MBA offered by good universities/institutes are on the lines of regular MBA programme and enjoy AICTE recognition/ UGC approval. However, before registering for the Distance MBA at a particular institute, please check that the programme is approved and recognized by the regulatory bodies.