Identify the fundamental courses students of MBA online degrees will have to take such as Economics, Accounting, Corporate Finance, Marketing Strategy and Operations Management.
First and foremost, MBA online degrees require students to complete fundamental courses during the first year to prepare them for advanced classes. This will then ensure that students are prepared, especially for those with a non-business undergraduate degree. You can always check your preferred school’s list of core subjects as it may differ from one online university to the next.
Relevant areas of concern such as business ethics and leadership are mainly taught. Leaders primarily influence the company, and an unethical leader can easily bring down a company’s reputation. A leadership management course would then focus on how to positively influence peers to work towards the same goal.
Microeconomics and macroeconomics are also essential courses in any MBA degree, more so, an online MBA degree. Microeconomics tackles topics on supply and demand analysis along with resource allocation and distribution. Macroeconomics, on the other hand deals with interest rates and monetary policies.
Financial and Managerial Accounting is another set of core subjects MBA degree students will need to complete. Financial Accounting is simply an introduction to basic accounting wherein basic principles and concepts will be explained. Managerial accounting, on the other hand, is the practical application of these accounting principles in several management functions and decision-making procedures.
Corporate Finance and Corporate Strategy are also crucial during your first year of online MBA degree program. Corporate Finance would educate you on the various financial models such as the time value of money that will help you make better financial decisions. Corporate Strategy will then educate you in concepts in strategy such as positioning to help you device an action plan for your organization.
Marketing Strategy and Implementation would provide the foundation for more advanced marketing courses. Marketing Strategy will teach you several marketing principles such as the Maslow’s hierarchy of needs to plan the organization’s future marketing plans. Marketing Implementation on the other hand would deal with the execution of such marketing schemes.
The key to becoming a successful leader is being able to anticipate trends in the market. Introduction to Statistics is then an important course to help future leaders analyze and interpret data. Concepts like regression analysis have been known to be useful in areas of finance, marketing and operations.
Operations Management is especially crucial for entrepreneurs. Operations Management basically deals with the set of movements done from the input of raw materials to the output of finished products. The course then instructs students on the numerous developments they can apply to a production system.
Your studies won’t be adequate unless you understand the fundamental principles and concepts involved in business. The classes you will take later on in online MBA degrees will be based on the fundamental knowledge you learned. So if you don’t understand the fundamentals, chances are you won’t understand the advanced courses as well.
The success or failure of your online MBA degree would be influenced by your comprehension of these fundamental courses. It is important to know what MBA online degrees offer the same fundamental courses offered in traditional MBA degrees. So make sure to consider distance learning education when thinking of pursuing further education in business.