Business schools all across the globe have started offering Global MBA program. These universities understand the need for a global education in this globalised era. They understand that different countries have different ways of functioning for a company to succeed in global market. At the same time, there is a need for a workforce well-versed with customs and regulations of different countries of the world.
On the other hand, there are a number of universities that put the tag of “Global” in their MBA program just to publicise and attract more number of students. These business schools, in reality may not actually provide the curriculum meeting the standards of a Global MBA program.
One needs to carefully select a business school and go through what they offer, their syllabus, maybe talk to a few seniors in order to get into the right Global MBA program.
So first let us find out what is a Global MBA program.
What is a Global MBA program?
Well, there is no one single factor that makes a Global MBA program different from a regular MBA program. It is a group of multiple factors that make a Global MBA unique.
These factors may include-
- The diversity among students enrolled in the program.
- The international & orientation of the curriculum and the course material.
- Diversity among the faculty and management staff.
- Recruitment and employment opportunities in different parts of the world
- The wide reach of the alumni network.
- Multiple locations of the business school
Top universities like INSEAD and Hult have multiple campuses, students from 130 plus nations, faculty from more than 90 nations, and approximately 60 per cent students placed in countries different than the one they started in.
What makes a Global MBA different’?
First, and most importantly there is a lot of diversity among the students and the teaching staff. This results in more globalised way of teaching and problem-solving. Also, it leads to discussions on customs and regulations from all over the world. Examples won’t be focused around one country but multiple countries. Eventually leading to wider knowledge about the world.
Business schools offering Global MBA programs also offer student exchange programs or rotations to different business schools in different countries, allowing students to learn and get exposed to different cultures, business practices, rules and regulations and environments.
Global MBA programs have recruiters from all over the world. This leads to placements in different countries. Thus, Global MBA programs come in handy, as one has already studied the global market.
Global MBA curriculums in universities abroad-
Courses might be altered for the Global MBA students. A student might be taught accounting systems of different countries rather than just teaching him/her the generally accepted accounting principles (GAAP).
A student might be taught about the business laws of the European Union, the USA, South East Asia and other countries rather than the business laws of a specific country.
A student may learn about the most popular marketing mediums in different countries in order to be prepared for marketing a product in that particular country. This would make a marketing manager more efficient in strategizing and making plans for selling the product.
Thus, it is very crucial to understand what curriculum is being offered by a university.
Identifying the right Global MBA Program.
Nowadays, a number of universities promote themselves as ones providing a ‘Global’ MBA but if you see their curriculum closely it might not be very different from a regular MBA program.
To identify the right Global MBA, one should closely refer to the curriculum and make sure that the curriculum meets, a few if not all the characteristics that are mentioned above. One needs to look not only at the course but also at the cultural diversity that prevails among the students and the teaching staff, the curriculum content and the opportunities offered to learn and work in different countries.
Global MBA provides an excellent opportunity for people who want to be a part of the global business sector and apply their skills in international market. It is also a gateway for working in different part of the world.
Universities understand that there is a need to educate its students in business management with respect to a wider and global view. More and more companies have started outsourcing their work to other parts of the world, this proves the the need of global managers who can apply their skills both globally as well as locally. For this the workforce needs to be well versed with the business customs of the whole world.
The Global MBA program is wonderful for people aspiring to work for big MNCs in different parts of the world as this course is the opportunity for them to learn business administration from different point of views of different people from a variety of countries. The way companies function in India would be very different than the way a company would function in Japan. The political situation, and various policies in different countries can also affect the way a company functions.
However, one needs to be very careful while selecting the university in order for the course to be actually ‘Global’.