A Master of Business Administration (MBA) is a postgraduate degree that helps students gain theoretical and practical business and management skills.

This internationally-recognized program is popular among those who have at least a few years of professional experience. MBA programs help these candidates to accelerate their careers or promote their job positions. In this comprehensive article, Vancouver.MBA reviews all you need to know about MBA Programs.

History of MBA program

For the first time, the MBA program was introduced in 1908 by the Harvard University Graduate School of Administration in Boston, Massachusetts, USA.

However, the first business school in the US was the Wharton School of the University of Pennsylvania established in 1881 by Joseph Wharton.

In the early 1900s, while many businesses in the US were seeking an educated workforce with financial and managerial skills, the need to offer a program such MBA seemed necessary.

Although the USA is known as the birthplace of MBA, the concept of business education already emerged in Europe many decades ago.

After Wharton and Harvard, many well-known business schools in the US such as Stanford Graduate School of Business, and Chicago Booth School of Business established MBA programs.

History of MBA program in Canada

The first ever MBA program in Canada was established at the Ivey School of Business at the University of Western Ontario in 1948. This program is not only known as the first Canadian MBA program but is also considered the first ever non-US MBA program.

Learn more about the History of MBA Programs in Canada 

What skills you can learn in an MBA program?

MBA is a comprehensive program that allows you to learn all aspects of successfully establishing, running, managing, and promoting a business. Obviously, an experienced MBA graduate at the top management level is essential for any corporation and organization in a competitive market environment.

What is MBA Program?

MBA program covers numerous several areas of business administration such as below:

• Accounting
• Finance
• Human Resources
• Business communication
• Business ethics
• Business law
• Business Strategy
• Management
• Supply-chain management
• Operations management
• Marketing
• Entrepreneurship

How long is an MBA program?

The length of a full-time MBA program is normally 2 years. However, some business schools offer an MBA as an accelerated program between 12-18 months.

MBA Program Types

Currently, business schools and universities offer different types of MBA programs:

Full-Time MBA

This program takes place for two academic years. Students need to complete 60 credits.

Accelerated MBA

This program is similar to a Full-Time MBA but has a higher course load with a more intense class schedule. Students can finish the accelerated MBA program within 15-18 months.

Part-Time MBA

This program is designed for those professionals who have limited time. The classes in this program are normally held on weekends or after business hours. The required period to finish a Part-Time MBA program is longer.

Executive MBA (EMBA)

This program is developed to meet the educational needs of managers and executives. EMBA students generally have a high level of work experience like 10 years and more.

Online MBA

In recent years, especially after COVID-19, the number of business schools and universities offering Online MBA programs increased. Hence, it became easier for professionals to apply for MBA programs in high-level business schools around the world.

Mini-MBA

This is a light version of the MBA program designed to cover the most important topics of a standard MBA in a short period of time. This type of MBA which takes place only a few days or a week provides an MBA certification at the end.

Get more information about Mini-MBA programs.

MBA Program Courses

Generally, MBA programs are structured around core courses and elective courses that allow for a subject specialty or concentration. Normally students learn the management skills and knowledge of business in the first year and pursue elective courses which allow for a subject specialty or concentration in the second year.

All Things About the MBA Program

A standard full-time MBA program includes the below courses:

1- MBA Core Programs

Analytical

• Accounting
• Economics for management
• Organizational behaviour
• Quantitative analysis(operations research and business statistics)

Functional

• Financial management
• Human resource management
• Marketing management
• Operations management

Ethics

• Business ethics
• Corporate social responsibility
• Corporate governance

Strategy

• Strategic Management
• Business Leadership

Research

• Research Methodology

2- MBA program Electives Courses

The list of elective courses is variable for different MBA programs. These are the list of common elective courses of MBA Programs categorized into various areas:

1- Business Analytics

• Machine Learning Tools and Techniques

Students explore the world and models of machine learning and how to use best practices with data to help the learning algorithm find patterns to map the target attributes. In this course, Students consider different patterns in outputs to discover if the machine learning model can predict new data sets of potential new targets.

• Predictive Analytics

Students explore the architecture of machine learning and how they can use strategic business decision-making to align machine learning technologies to help the organization meet its goals. The course takes a ‘client’ business approach where students analyze data and potential applications of machine learning and analytics to help to achieve strategic goals.

• Cloud Computing Technologies 

Organizations across the globe are increasingly moving to the cloud. Students investigate cloud technology, best practices and economics, and the rewards and risks of this rush to the cloud. They also adapt and design cloud computing solutions for business challenges, explore the fundamentals of cloud computing, and build the foundational knowledge required for understanding and applying cloud computing from both practitioner and business perspectives.

2- Consulting

• Consulting Practice 

This course is designed to develop analytical and consulting skills in a real work environment. It explores organizational critical analysis skills; action, intervention and problem-solving capacity; critical financial, operations and marketing concepts. Presentation skills in management consulting are increased through direct work with internal and external clients. Therefore, students learn various consulting phases including entry; diagnosis; action planning; implementation; and termination through the topics of consulting processes; effective communication; change readiness and consulting teamwork.

• Change Management 

Students investigate intervention theory surrounding the dynamics of change. Methods of aligning organizational structures with strategy within environmental vagaries are explored. Change agent models are reviewed and data collection, content analysis and feedback mechanisms are outlined to assist the organization to achieve risk reduction through harnessing creative, proactive responses.

• Capstone Project

Students define and analyze a real-life project based on their assessment of its needs, challenges and opportunities. After identifying a challenge, they analyze it, propose solutions and build a strategic plan. Throughout, students update their e-portfolio showcasing their progress and create a personalized video presentation explaining their activities, experience, and contributions to the organization. They produce a written report and analysis of the problem, their contributions and recommendations.

3- Entrepreneurship

• Design Thinking 

Students are introduced to how entrepreneurship, creativity, sustainability, innovation and social innovation interrelate to become the modus operandi in creating new business ideas. The focus is on practical concepts, tools and designs/models as a means for researching, identifying, building and utilizing skills and competencies that will help to develop the ideation process. Through experiential learning, students also practice their innovation and creativity skills to transform ideas into their competitive advantage and generate business opportunities.

• Prototyping for Entrepreneurs

Students analyze the fundamentals of prototyping and acquire the key tools for identifying product solution/product-market fit, user testing and Minimum Viable Product creation. To build their Minimum Viable Product, students employ software-based tools, and through a series of case studies, are introduced to the process of getting from a new idea to a real product.

• Entrepreneurship

This course introduces students to the process of creating and managing their own business venture – from opportunity recognition and idea generation to the development of their innovative business. The course investigates the main challenges associated with the first steps of a startup. Students assess the opportunities, build and verify the business hypothesis, define the right customer segments, market research, and plan strategic development of their brand-new venture. They explore the legal aspects of starting the company and the fundraising process. The course demonstrates the practical implementation of different frameworks, including Business models, by analyzing real startup case studies.

4- Finance

• Investment Analysis and Management 

Students apply investment concepts and security characteristics to analyze various types of investment securities and how investment portfolios are managed. Topics covered include investment alternatives, securities markets, securities trading, risk and return trade-offs, fixed income securities, equities, derivative securities, SWAPs, analytical approaches and portfolio selection and management.

• Personal Financial Planning

Students are introduced to financial planning issues and strategies to achieve long-term financial planning goals with a focus on retirement planning. Topics include RRSPs, RRIFs, LIFs, products such as investments, insurance, pension plans and annuities, the roles of taxation, the time value of money and risk in financial planning and estate planning.

• Global Financial Institutions Management

Students investigate the financial institutions’ industry, the risks involved in the industry, the regulatory framework for financial institutions and the approaches to monitoring and managing the risks and the regulatory environment

• Green Finance

This course introduces how the world is financing Sustainable Development Goals (SDGs) set by the United Nations and how investors can make well-informed Environmental, Social and Governance (ESG) investment decisions. These goals are accomplished by providing students with a strong background in sustainable development as related to financing business activities. Students examine what it means to evaluate sustainable financial ventures and products by examining real-world case studies focused on business decisions and financial market instruments.

5- Human Resources Management

• Human Resource Management in the Global Environment 

Students investigate how to develop strategies, policies, procedures, systems and structures to manage human resources in a global business and multi-cultural context. They explore the issues facing businesses in these environments, critically examine the key HR tools to be successful and define a set of business “best practices” to support and advise managers and leaders to be successful in these environments.

• HR Strategy

HR is core to the achievement of long-term organizational success at every step from effectively implementing business strategies to attracting, developing, evaluating, motivating and retaining talent. This course constitutes part of three elective courses offered for students wishing to achieve their CPHR designation upon fulfilment of their MBA requirements. Developing effective HR strategies is important to an organization’s health and longevity. Students learn to identify, evaluate and develop human capital as strategic resources. Students explore major issues and topics used for addressing contemporary challenges in the workplace.

• Recruiting & Retaining Talent

This course focuses on industrial relations and strategic compensation packages that all organizations must address, as well as the labour market considerations and issues of strategies for attracting and retaining talent. The course is part of three electives offered to students wishing to earn a designation from CPHR after fulfilling their MBA requirements. Students explore a systematic framework for designing a compensation package that adds value to an organization.

6- Leadership

• Change Management

Students investigate intervention theory surrounding the dynamics of change. Methods of aligning organizational structures with strategy within environmental vagaries are explored. Change agent models are reviewed and data collection, content analysis and feedback mechanisms are outlined to assist the organization to achieve risk reduction through harnessing creative, proactive responses.

• Negotiation

Negotiation is the art and science of obtaining agreements between two or more interdependent parties. Students recognize that theory and processes of negotiation are practiced in a variety of settings, the components of effective negotiation and analyze their own behaviour in negotiations.

• Leadership and Decision Making

This course develops student leadership capabilities by focusing on how leaders make decisions in organizational settings and in everyday life. Students employ heuristics and analysis to decision-making processes and their ethical implications. Four core competencies support successful leaders: the ability to communicate vision and strategy in simple, direct and relevant language; living and refining a coherent philosophy of leadership; being critically reflective and aware of how individual biographies shape our behaviours and relationships; and constant experimenting with creative and innovative ways of decision making and problem-solving.

• Intercultural Communications

Students are introduced to cross-cultural communication theory and the importance of image projection in the 21st century. They will explore cultural differences and communication skills through the lens of ‘reading the room’ and learn to interpret behaviour from other cultural perspectives using the Culture Map. They also identify appropriate means and methods of communication and interpret cultural differences and sensitivities through a range of regional exercises. Students design, summarize and present a cultural overview of a country in a nation branding presentation.

7- Marketing

• Digital Marketing Strategies

Students acquire domain expertise in digital marketing, evolving marketing channels, strategies and marketing integration, in pursuit of both short and long-term business goals. They explore proven practical examples of strategy selection, implementation and management, and how competitive advantage is created and leveraged over time and distance in the context of rapidly evolving technologies and practices. Students plan and execute a digital marketing campaign as part of a digital marketing strategy.

• Marketing Promotion

Students are introduced to the field of Marketing Promotion from an integrated marketing communications (IMC) perspective. The course emphasizes the importance of messaging and utilizing multiple media vehicles to achieve specific communications and consumer behavioural objectives and reach defined target groups through the use of promotional strategies and tactics, the design of promotional materials and promotional campaigns. Students are equipped to critically analyze and apply interrelated communication strategies and tactics.

• International Marketing 

Students apply conceptual schema and marketing principles in international marketing contexts. They examine and assess how socio-cultural, economic and political circumstances influence global consumer needs, design and implementation of the marketing mix, and market entry strategies. Students learn how to assess, identify and target local, regional and national market potential and decision-making skills for conducting sophisticated competitor, business risk assessment and international supply chain logistics.

• Marketing Analytics

Students will learn how to collect, manage, visualize, analyze and model complex high-dimensional business data to create crucial components in the business decision-making process. Using tools such as Tableau or Power BI and Python, students will gather, describe, analyze and present internal and external data with the objective to assist organizations with strategic and tactical decision-making.

• E-Commerce

Students explore monetized goods or services and transactional business ideas primarily for an e-commerce channel. They are provided foundational online business planning models for good business decision-making and problem-solving related to e-commerce. Furthermore, students investigate e-commerce business models, digital infrastructure, building an e-commerce presence, security, payment systems, digital and traditional marketing, online social media networks, and ethical, social and political issues in e-commerce.

8- Project Management

• Advanced Project Management 

This course focuses on an in-depth study of project management’s key pillars. The areas of study include project portfolio management, discovery/feasibility analysis, planning, procurement/contract management/negotiations, organizational change management, risk management, performance management, benefits realization, lessons learned vs retrospectives and a closer look at selected agile project management practices including PMI’s ACP and Disciplined Agile Discipline.

• Agile Project Management

This course focuses on the core components of Agile project management, examining how it is distinct from traditional project management. It also provides the students with the strategies and techniques for successful Agile project implementation, such as modelling, prioritizing, time-boxing, user stories, and estimating, as well as takes a more in-depth look at the fundamental Agile concepts of adaptive planning, customer collaboration, and value-driven delivery in dynamic and often highly constrained environments.

MBA Careers Path

Do you know which job opportunities you can pursue after graduation from an MBA Program?

One of the most important reasons for postgraduates to pursue an MBA program is to gain essential knowledge and build the necessary skills for executive-level positions. C-level positions (also known as C-Suite) include:

1. Chief Executive Officer (CEO)
2. Chief Operating Officer (COO)
3. Chief Financial Officer (CFO)
4. Chief Marketing Officer (CMO)
5. Chief Information Officer (CIO)
6. Chief Human Resources Officer (CHRO)
7. Chief Compliance Officer (CCO)
8. Chief Security Officer (CSO)
9. Chief Data Officer (CDO)

Happy MBA graduates

Generally, these executive-level jobs are at the top of the employee hierarchy in any company or organization. Therefore, MBA graduates can expect a high level of salary by hiring in these executive-level positions in top companies.

Apart from C-Level positions, MBA graduates can pursue their future careers in one of the below fields:

• Business analyst or strategist
• Business development analyst, associate, or manager
• Market research analyst
• Managing Director (of a department)
• Investment banker
• Entrepreneur/founder
• Financial analyst, associate, or manager
• Management consultant
• Marketing associate, analyst, or manager
• Portfolio manager
• Healthcare administrator, analyst, or manager
• Project analyst or strategist
• Product analyst, associate, or manager
• Program analyst, associate, or manager
• Operations analyst, associate, or manager