MBA is the abbreviation for “Master of Business Administration” and there are three bodies which officially accredit programs that award this degree. Three are AACSB, AMBA, and EQUIS. The type of degree which is for MBA in Japan is “M.A.” or “M.S.” in Administration”, and it takes one to two years of study. In Europe, one to one and a half year is common, and two years in the Japan and the United States. MBA is a type of degree for management offered by business schools which does not require licensure like accounting or practicing law. MBA has similar aspects with Registered Smaller Enterprise Consultant, but MBA emphasizes management practice, whereas Registered Smaller Enterprise Consultant is concerned with management advising. MBA tends to be considered a “passport” to become a manager in reality.
According to a recent report, approximately 60% of mangers working in major industries in the United States have at least an MBA degree. The biggest two industries that have highest demand worldwide for MBA are financial services and the medical/pharmaceutical industry. This is because reorganization of industries is occurring in a global scale.
- The international organization which proves the quality of MBA education
- The MBA Ranking which is based on cost-performance
- The situation of MBA in Japan
- Is MBA for raising managers or is it for raising leaders?
- The type of degree you can earn in business schools (MBA and MSc)
- The challenges of MBA market in Japan
- The business schools as a venue for confronting ambiguous problems
The international organization which proves the quality of MBA education
In attempt to standardize what does it mean to have MBA, the international third-party organization which comprehensively evaluates management education was established more than 100 years ago in 1916. This organization was called “AACSB International”, and it accredits world business schools apart from the government, holding comprised of over 1,400 business schools in over 90 countries, such as Harvard, Stanford, and Wharton Business School.
International accreditation assures that teaching / research / governance meets the expectation of world’s business leaders. One of the benefits of international accreditation is that it provides an opportunity for networking between accredited institutions as well as the international exchange of faculty and students. Articles about international accredited MBA has been recently appealing to the media, and the value of international accredited MBA programs has begun to be gradually recognized within Japan. Other accrediting bodies include, AMBA EFMD, EQUIS, and EPAS. There are 30 schools who are accredited by AACSB, AMBA, and EQUIS (so called “triple crown.”)
The MBA Ranking which is based on cost-performance
The MBA Ranking has gradually been recognized in Japan. The way of ranking is simple. Unless the business school is internationally accredited, it will be difficult to be ranked in world ranking such as FT and QS. In addition, the most important aspect for making the ranking is cost-performance. In another words, in how many years would it take for the students to get back their financial investment. Added to this, the number of internationally recognized articles are considered to measure the impact on the society. Programs are ranked by quantifying the value added of the MBA to the real society.
- International Accredited business school
- Tuition required to earn MBA / Payment raise after graduation
- The number of Internationally peer reviewed journal articles published per faculty member
- The diversity of attendees and the faculty members
The way of MBA education
The case method uses practical examples to raise your activeness. Therefore, earning MBA should be considered as an investment on your future. The most renown person who has MBA must be George W. Bush (Harvard MBA.) Although, it is said that it is not his knowledge of marketing or finance which appears in MBA education. But it is his ability to confront differences of opinions and values, and lead the organization.
The situation of MBA in Japan
According to the Ministry of Education, the number of people with MBA has leveled off to approximately 2,500 per year. This represents 0.2 % of graduates from Social Science including management, which is not only less than Western Europe and the United States (2%), but is even less than South Korea (0.5%.) However, the value of MBA education has started to be realized from the mobilization of human resources resulting from business reorganization as well as globalization. It appears that the three ministries of Education, Health, Labor and Welfare, and Economy, Trade and Industry are starting to have a focus on MBA education as an opportunity for employees to further their education.
In fact, people with MBA tend to be seen more trustful to managers as the employees’ interaction develops. There has been greater understanding of the value of an MBA education, especially within the international industries.
Is MBA for raising managers or is it for raising leaders?
Basically, it is the MBA education mission to develop superior management workforce. These managers are required to play a role both as “manager” who oversees human and financial resources of companies and as “leader” who faces new challenges. It is at the business school’s curriculum to balance out these two roles.
What is MBA curriculum?
MBA curriculum is required to be aim at the development of the thirteen competencies. The international accreditation organization AMBA, which was found in 1967 assesses the degree to which the thirteen core competences are embedded into the curriculum, the discipline, the courses, and the class sessions. Many business schools within Japan struggle to answer the question of “What is MBA core curriculum?” However, internationally accredited business schools have clearly defined competencies and learning outcome.
Will acquiring an MBA increases my salary?
One evaluation of MBAs is to consider salaries and the rank within the companies and position requiring an MBA. Post graduation surveys in Europe, Canada, and the United States provide the data that shows within 3 years of graduation, approximately 70 % of MBA holders see an average increase of 2.2 million yen. In truth, some major companies in Japan are currently encouraging and supporting employees to acquire MBA. It will be interesting to follow the development of this trend.
The type of degree you can earn in business schools (MBA and MSc)
First, MBA is a formally structured master’s degree program in management. On the one hand, an executive MBA is an MBA program for experienced professionals. On the other hand, an MSC is designed for professionals who seek to gain specific skills and knowledge but may have less practical experience. This will include disciplines as accountancy, tax law, finance, and marketing.
|Executive MBA||Masters||Core employees||10 years|
|MBA||Masters||Next generation leaders||5 years|
|Specialized MBA||Masters||Healthcare workers||Non|
|Global MBA||Masters||Global citizens||3 years|
|PreMBA||Non-degree||Essence of MBA||3 years|
What is Executive MBA?
Executive MBA is a similar degree to MBA. The difference between those two programs are that EMBA is a program which requires over 10 years of practical experience and most entering students are in their 40s. The MBA and EMBA degrees are clearly distinguished from one another in Europe and North America. In these programs, the MBA is geared towards potential entrepreneurs and the EMBA is geared towards managers.
What is Specialized MBA?
Looking at the MBA programs worldwide, you can see some MBAs have specializations and are called “Specialized MBA.” The specializations are typically noted within the degree name, such as an MBA in XYZ. However, the Specialized MBA is different from the focused study program of the MSC degree. Specialized MBAs include focused study in area such as healthcare, international business, and entrepreneurship, and pursued by many students who have strong interest and passion in such specialized industries.
- MBA in Healthcare Management
- MBA in Entrepreneurship
- MBA in International Business
What is PreMBA?
The PreMBA is a bridge-program designed for potential MBA students who may lack the background knowledge and foundation courses expected of traditional MBA students. In Japan, the PreMBA program concludes with a certificate that recognizes the successful completion of 120 plus hours of formal training. This kind of certificate can be listed on a resume.
In addition, there is a program called “Executive Education” which are non-degree, professional development courses created for executives and professionals who are unable to enroll in two years of full-time degree course work. These programs are popular in Europe and the United States, and they are expected to gain popularity in Japan.
The forms of MBAs coursework
The forms of MBAs coursework can be broadly separated into three forms; Full-Time MBA, Part-Time MBA, and Online MBA. Part-Time MBA is separated into night-school program and weekend program, and Online MBA is separated into remote program which offered completely online and blended program which combines both online and classroom instruction. Although there are benefits to remote instruction, it may be difficult to maintain the students’ motivation for over a two-year period. It is assumed that it will take some time to solve the problem of how to elevate the level of communication skills which is an aspect for MBA holders.
The challenges of MBA market in Japan
The major differences between MBA granting business schools are not in the type of courses offered, but whether the case method is utilized and the faculty are able to teach using that methodology. The traditional teaching methods to produce researchers are inappropriate for business persons, but this model is still used in Japan.
The persistence of using traditional teaching methodology is primary due to the nature of the curriculum. The curriculum is not just course names since the names can be easily changed by the faculty. Therefore, it is necessary to examine the syllabus in order to achieve the business school’s mission.
If you look inside the syllabus (making it public is required by Ministry of Education), it can be seen whether the faculty understands the educational goals and is selecting appropriate materials in order to achieve learning goals.
This is a prerequisite for an MBA program.
The business schools as a venue for confronting ambiguous problems
Inside the MBA classes, some extreme questions are often questioned. If one of your subordinates informed you about the contamination occurred 10 years ago, would you or would you not make this fact public? Of course, there is no absolute answer to such a question. There are times when there are questions that require a morally ambiguous decision.
The answer may be easily imagined if you think carefully about it, but the answer can be changed depending on the circumstance. Therefore, the goal which MBA education aims for is not searching for the correct answers, but to be unafraid of failures.