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1. What is MBA ?
- The Master of Business Administration, commonly known as
the MBA, is an internationally recognized postgraduate
business degree. It has been said to have equal standing with
other Master in Science degree (or some may regard it to be
higher). It is an academic in character i.e. awarded by
universities but yet it stresses on practical aspects of
management. Most universities and institutes that offer MBA
insist that the students must have some level of work
experience, the norm in Malaysia is 3 to 5 years. Most still
insist on 5 years as a minimum but they do make exceptions at
times.
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- 2. Are there many types
of MBA courses ?
- The MBA originated from the U.S. with the very first
"business school" in the last century. The world’s
most famous one is the Harvard Business School. Most U.S.
based MBA courses are two year full time, commonly known as
the "classic" model.
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- In recent years, new models have emerged, with short time
i.e from 12 to 16 months instead to two full time years. These
one year full time programmes are common in Australia and
Singapore. However, two of the best schools in Asia Pacific
(The Melbourne Business School and the Australian Graduate
School on Management) is of the classic model.
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- The third type of MBA is the part time MBA or commonly known
as the Executive MBA (because it is attended by working
executives). These programmes can commonly facilitated by
local private institutes of higher learning and in some local
universities. The executives can still keep their jobs and go
for their MBA at the same time. This is what most working
people prefer this model as they find it most flexible i.e.
pursuing their careers and study at the same time. It does
come with a price ... you have virtually no time for
everything else !
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- 3. What do you do in an
MBA course ?
- Essentially, MBA trains students in the analysis of business
problems and decision making. Most MBA courses covers a wide
area of management. They usually include the four key
functional areas of management – human resource, finance,
marketing and operations.
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- 4. Why get an MBA ?
- An MBA qualified manager is highly regarded and often given
serious consideration for senior/top management positions in
the industry.
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- 5. Are there any MBA
courses offered in Malaysia ?
- Yes, there are at least 30 MBA courses "in town".
Mostly concentrated in the Kuala Lumpur region. Some of them
do conduct their classes in Penang and Johor Baru. As for East
Malaysia, we heard that UNIMAS (Universiti Malaya Sarawak)
does offer MBA in Kuching. No news for MBA in Sabah state for
the time being.
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- As far as courses go, both U.K. and U.S. universities have a
strong presence here, usually represented by a local institute
of higher learning.
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- Besides local private institutes which offer joint program
with foreign universities, some local universities also offer
MBA courses as well.
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- 6. What is the minimum qualification to get in ?
- Almost every institute that you
ask will require you to have at least your bachelors'
degree,whichever the discipline be it economics, pharmacy,
engineering, accounting, science, information technology, or
commerce. The other qualification is work experience. Most
will insist on 3 to 5 years as a minimum. This is to ensure
that the candidate has reached a certain level of maturity
when they apply.
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- If you are a fresh graduate, it
may be a bit difficult for you to get in, unless you have
excellent results. Our advice to you is to get that work
experiece first. Why ? This is so that you can appreciate the
MBA even more and you will gain a deeper level of
understanding and learning when you exchange ideas in your
class discussions. MBA stresses on practical
experience rather than academic that is why the
institutes insists on work experience.
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- 7. How long does an MBA
course take ?
- Depending on the programme you join, it can be anything
between 12 months to 7 years. Yes, seven years ! But most
complete within 18 to 24 months. Trust me, you don’t want to
be on an MBA course for longer than that!
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- 8. How are the classes
conducted?
- Classes are conducted with lectures with the usual
assignments and exams. Most would require some group
assignment where team work is required. For the part time
programs, classes are conducted either weekdays (evenings,
usually from 6pm to 9pm) or weekends (usually one full day,
from 9:30am to 6 or 7pm). There also residencies i.e. the
class is conducted for one whole week continuously for a week
or two, sometimes three, at a hotel (usually out of town). You
will need to take leave from your work for that.
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- 9. How much will it cost
?
- It depends ... on what type of
program you are after. Most part time programs will cost you
from RM24,000 to RM40,000 for the entire course. Most are
about RM30,000 to RM35,000.The distance learning programs are
a bit less, you can get one for less than RM20,000.
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10. Are there
any "hidden" costs ?
You bet there
is! For a two year part time course, the books and stationeries
will cost anything from RM1,000 to RM3,000, assuming that you
buy every top 4 books on the list for every subject!
- Then there are your
residential. You may be expected to pay for you own
accommodation. It can run up to RM1,000 for a one week
residential at a local hotel. Do check whether it is covered
in the fees you pay.
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- Overseas traveling is
another one. Air fare, lodging, meals when you are overseas
... you know what we mean ... check whether the fees cover
them.
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- For those who are doing a
distance learning program, you will need to invest on a
personal computer or a notebook computer. This will set you
back by RM2,500 to RM7,000. Do check on the Internet access
fees and how much you will be spending doing your MBA via the
Internet. Telephone charges, line charges, Internet Services
Provider fees (TMnet, Jaring). Do check whether the lines
around you area is reliable i.e that you do not lose your
Internet connection every other minute!
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- 11. Do I have to pay
100% up front ?
- Almost all institutes allows you to pay on an
"installment" basis. You usually pay at the start of
each new semester.
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- 12. Do I have to pay in
a foreign currency ?
- In some programmes you are
required to pay in foreign currency. Either in US Dollars or
in Pund Sterling (UK). Please take note that you will be
required to bear the cost or risk of currency fluctuations.
With the Ringiit pegged at 3.80 US Dollars, the risk should be
quite minimal, for now ...
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- 13. I cannot afford RM30,000, what are my options ?
- You do have at least four options.
- 1. Take a loan from your parents!
- 2. Take a study
loan from a bank. Many do offer attractive rates and easy
repayment schemes
- 3. Get you company to sponsor you
and don't have to pay a single cent!
- 4. Apply for a scholarship but you
are expected to perform at the top of your class.
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- 14. Do companies sponsor
their employees for MBA ?
- In some cases your company may
be willing to sponsor you for the MBA course. Do check with
your company's Human Resource department for that.
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- 15. How are the students
assessed?
- The assessment of students, like any university course,
comes in the form of assignments and examinations. These two
are the minimum that you can expect the spread is usually
50%-50% or 60%-40%. Most of the courses will require you to
work as a team with your course mates to deliver one or two
projects/assignments, thesis to test your ability to work as a
team. Peer evaluation is not uncommon (i.e. your team mates
will evaluate and provide feedback about you, your attitude
and work, this is to ensure that there are "no
passengers") . There will be presentations made by
students as well as part of their course. In some cases, the
student participation in case discussion is evaluated.
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- 16. How about the examinations ?
- Examinations can be either
weekdays or weekends, depending on the institution. Exams are
mostly "closed book" exams i.e. you can't bring in
any notes/books. Duration is from 1.5 to 3 hours. In some
cases, there are 9 hour exams, but they are based on case
studies and it is an open book exam. In some case exams you
may be allowed to bring your notebook computer and even
printer !
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- 17. What is the course
content like ?
- Most MBA courses are quite similar in their course
content. As a minimum they will cover :
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Marketing Management
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Operations Management
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Human Resource Management
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Financial Management
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- These are known as the core subjects. In addition, they
also cover
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Business Strategies / Strategic Planning
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Managing Change
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Organizational Behavior
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Information Technology
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Entreprenuership
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- 18. How do I get one ?
- You start by contacting the
local institutions directly. There is no central body to apply
to in order to get into an MBA course. You will have to
evaluate the courses and make a choice. They normally will
supply you with the brochures highlighting the main features
of the course such as the course contents, fees, duration and
quality of the teaching. Do ask for the application forms and
find out what is the minimum admission requirements. You will
be charged a processing fee upon your submission of your
application. It could range from RM50 to RM200.You may also be
required to sit for an entrance examination. Do note that the
institute will ask for a reference from your employer. And
there will be forms for you employer or rather direct
reporting manager to fill in.
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- 19. Which is the best MBA in
Malaysia?
- Unfortunately, there is no quick
answer to that question! There is no rating or ranking body
within Malaysia to determine which is the "best" in
the country. Questions also arise as to what do you mean by
the "best". You can check out some of the MBA guide
books such as Which MBA? It provides some information
on each of the MBA courses offered in the U.K., U.S and Asia,
it's available in most local bookstores. As for the rankings, you may refer to Business
Week, they do publish a list top 20 business schools in
the U.S. For Asia, the Asia
Inc. does evaluate and publish the list of top 25 MBA
courses in Asia.
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