Is Online MBA the Next Big Thing?
Updated: Nov 17, 2020
Considering an MBA Online? With a decline in applications for full-time MBA, online MBA demand has seen a rise. Some of the factors to consider are duration, course structure rankings, total cost, and career services.
Trulaske College of Business at the University of Missouri has informed its Crosby MBA applicants that it has decided to “pause” its MBA program temporarily and would be reimaging its program. In these current times and with a lot of competition from other business schools, Missouri has been struggling to attract applicants and their applicant pool for the fall intake last year was less than 100. US News & World Report had recently ranked their MBA program as the 62nd best full-time MBA program in the US.
Apart from Missouri, some other business schools such as Virginia Tech, Thunderbird School of Global Management, Simmons College, Wake Forest University to name a few, have also seen a decline in their MBA applicant pools. In the last few years, UIUC and the University of Iowa also called off their full-time residential MBA programs, which now makes us think, Is Online MBA is the way going forward?
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Dean of UCLA’s Anderson School of Management, Antonio Bernardo, says, “There is a lot of innovation going into remote learning. We are going to learn how to do this better and better and we are going to share those best practices. I think there will be an extraordinary amount of collaboration tools that come out of it. We already have some good tools but you have to expect it will get a lot better. There is going to be a period of rapid teaching innovation and that has got to have obvious long-term impact.”
Some business schools had the first-mover advantage and are now ruling the online world. IE Business School situated in Madrid, Spain is one of the top-ranked Online MBA programs and has been successfully attracting thousands of students worldwide. This year QS ranked IE’s Global MBA as Rank 1 and in Financial Times 2019 Online MBA rankings, IE is ranked 2 with Warwick Business School topping the list. Imperial College Business School, University of Southern California (Marshall), Indiana University, and Manchester Business School are some of the other top Online distance learning MBA programs available.
We believe that after this pandemic, technology will play a major role in helping schools restructure their course offerings, providing virtual campus tours for future prospective students, and online e-learning class options.
Some MBA schools may decide to shrink their class size or offer multiple intakes or maybe an option to take a few or all courses online. Will this impact the overall feel and experience of doing a full-time MBA? Well, maybe time will tell.
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