An MBA program usually has three categories of classes: introductory, foundational core and specialized. Introductory courses acquaint students to basic business concepts, such as business language for specializations ranging from accounting to economics. Foundational core courses equip students with practical knowledge to apply in a functional business environment. These courses may include business ethics and marketing strategy development. MBA students may choose a field of interest with specialized courses. Some of the elective courses include corporate financial reporting, human resources, project management and small business management.
Cost is a major benefit of MBA correspondence courses. Though traditional U.S. business schools are renowned for their prestigious MBA programs, attaining an MBA degree at them through on-campus classes can be quite costly. In comparison, MBA correspondence courses are less expensive because no residence and living costs are involved. The cost of an MBA correspondence program averages $8,000 to $30,000 per year (in 2011). Calculating the return of investment in terms of MBA program quality, however, is an important consideration.
Admission requirements for an MBA correspondence program may vary from school to school, but applicants usually need to meet some basic requirements to qualify for admission. Benchmarks include academic record, work experience, essay, recommendation letter, personal interview and standardized tests. The tests are the Graduate Management Admission Test (GMAT) and the Test of English as a Foreign Language (TOEFL), which is for students from non-English-speaking countries.
MBA correspondence course materials can be distributed through print, audiovisual compact discs, videoconferencing and the Internet. Students also can use those methods to submit assignments. MBA correspondence programs take one to 2 two years to complete, as do traditional classroom lMBA programs.