Future of Online MBA Courses: A Complete Guide
E-learning has emerged as an essential viable option for education continuity in the upside-down world of COVID-19. However, even before the pandemic, the online learning market across the globe saw increased global growth. By 2026, it is expected to reach $336.98 billion, at a compound annual growth rate (CAGR) of 9.1% from 2018 to 2026. This growth is a testament to the wonders of online learning and how it can shape the future of learning.
After all, technology has revolutionised everything — and now, even learning and teaching. Lectures and seminars don’t need to be confined to classrooms or halls; students have a digital toolbox in handheld devices, laptops, and more; even the textbooks are digital.
The thing to be understood here is that online learning offers a win-win situation to students and instructors and institutes. By being data-driven, instructors get to know students’ pain points and then offer personalised training and make the learning process easier.
One such online course that’s increasingly in demand is an online MBA. MBA had always been a lucrative option, especially for those with a few years of job experience. However, there’s been a shift with an increased number of people opting for the online MBA route in contemporary times.
This shift is happening because digital courses can offer the same value as conventional classrooms. Students (whether freshers or professionals) need not put all of their other work in the back seat to continue education with online courses. This flexibility is what has been pivotal to many people’s success stories.
Quality online MBA offers enhanced exposure to students. They get to interact with people from across the globe from the comfort of their chair — enjoying diversity and convenience. By design, these courses enable students to learn from different points of view. It is this variation of perspectives that lets students consider new strategies and reconsider old ideas.
The Worth of Online MBAs
If you’re already working in the industry of your choice, doing an online MBA means a push to moving your career forward in the right direction. By the course design, you wouldn’t need to leave your job to pursue the course. In many scenarios, the employers even agree to fund a part of (or all of) the study costs. Another benefit in terms of flexibility is that you can (generally) complete these programs as fast or as slow as you like — unless there’s a strict time-bound(in which case, also, you can study at your own pace instead of being time-bound). This flexibility allows you to adjust your academic life around other things that will inadvertently keep happening in your life. For instance, if you’re faced with a deadline at work, you might want to ease off your studies for some time.
To pursue an online MBA, you won’t usually need to attend physical classes — although it’s essential to make sure if your chosen course has some physical attendance commitments. This means you can study at your own time, depending on your other schedules and obligations.
It won’t be fair to talk about the benefits and not the downsides while talking about online MBAs’ worth. Independent studies can become isolating at times, but there are many options these days to virtually get in touch with classmates and conduct group study sessions. It’s a looming fear that online classes imply isolated learning, but it doesn’t have to be that way. Using the internet as the medium, you can still form essential connections that’ll help you in your career.
Another concern is that graduation from an online MBA leaves you with fewer job opportunities than a classroom-based course. This might have been true ten years ago, when e-learning was nascent, to say the least. Now, however, more and more recruiters are opening their arms (and jobs) to online MBAs, as well. The institutes offering online MBA are generally tied up to good companies across industries to help with your placements or forming professional connections.
Having said that, it’s important to mention that if you’re taking the online MBA route, be sure to do ample research. While the idea of an online MBA course is fantastic, the course by design and nature vary greatly, so be sure to select the course that’s best for you.
The Future of Online MBAs
The University of Illinois announced the closure of its full-time and part-time MBA programs. This was done solely to increase their focus on the online course. Likewise, many other institutes have also stepped up to his opportunity. Online MBA courses are also available at lots of different price points, depending on what all they cover.
Additionally, the online MBA route generally tends to be cheaper than the traditional, classroom-based approach. For the institutes, the cost of running online programs is lower than teaching on-campus. This allows institutions to drive their fees down by one-third, if not more.
The future is already upon us — with an online MBA, people can pursue an MBA, thereby pushing their careers, staying in their jobs, running a business, and much more. Such flexibility will only make the prominence of these courses increase in the coming years.
Credibility and value of these online courses are also on the rise — especially compared to what it used to be. With an increase in successful Online MBA courses and success stories of students excelling in their careers due to the courses, the stigma attached to e-learning has faded. Online learning models have become the norm. Recruiters recognise the sheer dedication, commitment, self-motivation, and self-control is required for a student to manage academics and career together.
In short, with an online MBA, too, you’ll enjoy the same respect, opportunities, and value as with a traditional MBA — with a far lower priced tag, increased flexibility, and enhanced diversity and opportunities!
Online MBA programs have emerged as a suitable blend of traditional education and modern convenience — merging the elements required to earn the degree and apply it in a work-related context. With the newer generation of people entering the workforce, flexibility will be one of the more important demands. Online courses are successfully meeting this demand so far and providing a platform for students and professionals to gain the necessary qualifications and education without compromising other aspects of their lives. As a result, online courses, especially online MBA courses, are here to stay.