What Is the AACSB?

The Association to Advance Collegiate Schools of Business (AACSB) was founded in 1916 by a group of some of the top colleges and universities in the United States as a membership organization for business schools. According to the AACSB, founding members include notable Ivies such as Columbia University, Dartmouth College, Harvard University, University of Pennsylvania and Yale University. Highly lauded institutions such as Northwestern University, New York University, Ohio State University, Tulane University, UC Berkeley, The University of Chicago, University of Illinois, University of Nebraska, University of Pittsburgh, The University of Texas and the University of Wisconsin-Madison make up the rest of the AACSB founding members. The member institutions set out to create an independent nonprofit organization dedicated to the promotion of high-quality business education in the U.S. In accordance with this goal, AACSB International now holds a membership of about 1,200 colleges and universities, corporations and nonprofit organizations in 70 countries, according to its website. The AACSB has become one of the most prominent and highly trusted resources on business education in the world.

The Purpose

One of the central functions of the AACSB is accreditation of business schools but schools that are members of the AACSB are not necessarily accredited by it. The AACSB began accreditation in 1919 when it adopted its first set of standards and that remains its primary role. The organization prevails as the gold standard for business accreditation worldwide, approving 620 business schools. Becoming accredited by the AACSB is one of the most highly coveted accreditations a business school may receive, as it marks a business program of exceptional substance and rigor. For students looking into online education, an AACSB accredited MBA is a highly valuable degree.

A Pulse on Business Education

The AACSB hosts conferences, seminars, symposiums and webinars on the newest information and trends in business management and accounting education, providing business educators access to think tanks with experts in the field. The AACSB encourages opportunities for the professional development of business educators and provides a venue for communication between business organizations and schools. The group offers conferences for geographic regions such as Europe and Asia Pacific, teaching symposiums for aspiring deans and events on topics such as sustainability and accreditation. The AACSB also hosts seminars on matters such as business and global accreditation. Webinars, such as “Best Practices From Accreditation Visits” and “Globalization Task Force Report,” and Web forums in areas such as the globalization of management and cost-effective methods of educating members and the general public on business today are also offered. The AACSB produces its own data on global business education and develops corresponding reports. The Global Foundation for Management Education, or GFME, is an organization created by the AACSB and theEuropean Foundation for Management Development to investigate challenges to and ideas about the development of management education on a global scale. The foundation publishes reports on visions for business education and on current developments in the field.

The AACSB offers these services with a dedication to its goals from 1916. According to the AACSB website, the mission of the organization is clear: Advance quality management education worldwide by means of accreditation, thought leadership in business management and special services. The goal of the AACSB is to be the world’s leading authority on management education. The AACSB is committed to providing the highest quality services, encouraging collegiality and mutual respect, embracing diversity and working in the most socially responsible manner. The AACSB is hugely important within the realm of business education worldwide, and its membership and services expand every year.

To find out more about the prestigious AACSB accreditation, read the next section.

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What Accreditation Agencies Are There?

To ensure that your degree will be recognized as legitimate by employers, the program in which you enroll must be accredited by an agency recognized by the U.S. Department of Education and the Council for Higher Education Accreditation. Both organizations keep a comprehensive list of all accrediting agencies on their websites. The lists include regional, national and programmatic accreditation agencies, and the recognized agencies have approved more than 7,000 institutions in the United States, according to Bachelordegrees.net.

There are accreditation agencies representing six regions of the United States: New England, North Central, Middle, Southern, Western and Northwest. Most traditional colleges and universities are accredited by one of these regional agencies. National agencies accredit schools in all areas of the United States and have sometimes been formed to provide accreditation to schools that do not fit into the traditional regional mold. Online schools, because they enroll students worldwide and have no central campus, do not fall into a regional area and are often accredited by national agencies. The Distance Education and Training Council is a commonly used accreditation agency for online schools.

Programmatic accrediting agencies evaluate particular programs that fall into a specialized discipline. For example, the National Association of Schools of Art and Design and the National Association of Schools of Theatre accredit programs in particular areas within the arts. The American Bar Association is the accreditation body for law schools and the National Accrediting Commission of Cosmetology Arts and Sciences accredits professional programs in cosmetology.

The following is a list of all accreditation agencies that are recognized by CHEA and the Department of Education. When searching for accredited MBA programs online, the first thing to check is whether the program has been accredited by one of these agencies. Another accrediting agency that students should know about is the Association to Advance Collegiate Schools of Business (AACSB), which is covered later in this chapter.

Regional and National Accrediting Agencies:

Accrediting Bureau of Health Education Schools
Accrediting Commission of Career Schools and Colleges
Accrediting Council for Continuing Education and Training
Accrediting Council for Independent Colleges and Schools
Council on Occupational Education
Distance Education and Training Council, Accrediting Commission
Middle States Commission on Higher Education
Middle States Commission on Secondary Schools
New England Association of Schools and Colleges, Commission on Institutions of Higher Education
New York State Board of Regents, and the Commissioner of Education
North Central Association of Colleges and Schools, The Higher Learning Commission
North Central Association Commission on Accreditation and School Improvement, Board of Trustees
Northwest Commission on Colleges and Universities
Southern Association of Colleges and Schools, Commission on Colleges
Transnational Association of Christian Colleges and Schools, Accreditation Commission
Western Association of Schools and Colleges
Accrediting Commission for Community and Junior Colleges
Western Association of Schools and Colleges, Accrediting Commission for Senior Colleges and Universities

Recognized Programmatic Accrediting Agencies:

Arts and Humanities

National Association of Schools of Art and Design, Commission on Accreditation
National Association of Schools of Dance, Commission on Accreditation
National Association of Schools of Music, Commission on Accreditation
National Association of Schools of Theatre, Commission on Accreditation

Education Training

Montessori Accreditation Council for Teacher Education, Commission on Accreditation
National Council for Accreditation of Teacher Education
Teacher Education Accreditation Council, Accreditation Committee

Legal

American Bar Association, Council of the Section of Legal Education and Admissions to the Bar

Community and Social Services

American Association for Marriage and Family Therapy, Commission on Accreditation for Marriage and Family Therapy Education
Association for Biblical Higher Education, Commission on Accreditation
Association for Clinical Pastoral Education, Inc., Accreditation Commission
Association of Advanced Rabbinical and Talmudic Schools, Accreditation Commission
Commission on Accrediting of the Association of Theological Schools
Commission on English Language Program Accreditation

Personal Care and Services

American Board of Funeral Service Education, Committee on Accreditation
Commission on Massage Therapy Accreditation
National Accrediting Commission of Cosmetology Arts and Sciences

Health Care

Accreditation Commission for Acupuncture and Oriental Medicine
Accreditation Commission for Midwifery Education
Accreditation Council for Pharmacy Education
Accrediting Bureau of Health Education Schools
American Dental Association, Commission on Dental Accreditation
American Dietetic Association, Commission on Accreditation for Dietetics Education
American Occupational Therapy Association, Accreditation Council for Occupational Therapy Education
American Optometric Association, Accreditation Council on Optometric Education
American Osteopathic Association, Commission on Osteopathic College Accreditation
American Physical Therapy Association, Commission on Accreditation in Physical Therapy Education
American Podiatric Medical Association, Council on Podiatric Medical Education
American Psychological Association, Committee on Accreditation
American Speech-Language-Hearing Association, Council on Academic Accreditation in Audiology and Speech-Language Pathology
American Veterinary Medical Association, Council on Education
Commission on Accreditation of Healthcare Management Education
Commission on Collegiate Nursing Education
Council on Accreditation of Nurse Anesthesia Educational Programs
The Council on Chiropractic Education
Council on Education for Public Health
Council on Naturopathic Medical Education
Joint Review Committee on Educational Programs in Nuclear Medicine Technology
Joint Review Committee on Education in Radiologic Technology
Liaison Committee on Medical Education
Midwifery Education Accreditation Council
National League for Nursing Accrediting Commission

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What Is Accreditation?

Accreditation in the United States is a process by which institutions of higher learning are evaluated for educational quality. All quality online MBA programs will have been approved by a recognized accreditation agency. In the U.S., accreditation is a nongovernmental, nonprofit process, and accreditation is meant to foster peer review. Accreditation agencies are organizations dedicated to academics and are often formed by colleges and universities themselves. Through accreditation, schools have the chance to take a look at their own programs and communicate with accreditation agencies about what works and what could be improved. According to An Overview of U.S. Accreditation (pdf) by the Council for Higher Education Accreditation (CHEA), accreditation is a means to ensure academic quality; give deserving schools access to federal funds; provide students, employers and other private sector individuals with confidence in accredited schools; and ease transfer of credits between schools of equal quality.

How It Works

Any school seeking accreditation must first apply for institutional accreditation, which is accreditation of all programs in an entire college or university. Then, an institution may also choose to apply for specialized, or programmatic, accreditation to gain extra recognition for the quality of a particular program. Some schools, such as trade and professional schools, need to seek out only programmatic accreditation because they specialize in just one area. Schools choose to apply for either regional or national accreditation. Regional standards are developed by schools in six sections of the country, while national accreditation standards are meant to represent the minimum standards of quality required for accreditation in the United States. Many online schools are nationally accredited, while accredited online MBA programs offered by brick and mortar schools will usually be regionally accredited. Both types of accreditation are approved by the U.S. Department of Education, but each school will have its own requirements as to what types of accreditation it accepts as transfer credits, so it is wise to look into those specifications before beginning any accredited online MBA program.

To become accredited, schools must apply with an accrediting agency. Accreditation agencies have been formed to act as vehicles to facilitate the process of educational quality evaluation. To be legitimate, an accrediting agency must follow standards that have been laid out by the U.S. Department of Education, available at Ed.gov. Although the U.S. Department of Education does not oversee or regulate accreditation, the secretary of education is required by law to keep a list of accrediting agencies that he or she deems to be reliable authorities on the evaluation of educational quality. Any accrediting agency that is not on that list is not recognized in the United States, and schools accredited by agencies that are not recognized by the U.S. Department of Education will not be seen as accredited by academic institutions or employers.

The process of accreditation is rigorous. Common steps are outlined by the Department of Education at Ed.gov. The first step is self-study. The administrators of the school or program in question will consider the educational standards outlined by the accreditation agency. The school administrators will prepare a report detailing how they believe their academic programs hold up to the outlined standards. In communication with the accreditation agency, it may be determined that particular aspects of an academic program may need to be changed before a school is prepared to go through the rest of the evaluation. Once the school administration believes it has met the standards, a team from the accrediting agency will conduct an on-site evaluation of the institution. The accrediting agency will then take into account both the self and on-site evaluation to determine whether a school will gain accreditation. After receiving accreditation, the school will be monitored for a specified amount of time to verify that it is continuing to uphold the standards. Schools will also go through periodic reevaluations, during which the accrediting agency conducts a thorough investigation to ensure that a school is maintaining the same, if not higher, levels of educational quality.

Accreditation in the United States functions according to a common set of academic values and beliefs. According to CHEA, these beliefs are:

• Higher education institutions have the primary responsibility for academic quality; colleges and universities are the leaders and the key sources of authority in academic matters.
• Institutional mission is central to judgments of academic quality.
• Institutional autonomy is essential to sustaining and enhancing academic quality.
• Academic freedom flourishes in an environment of academic leadership of institutions.
• The higher education enterprise and our society thrive on decentralization and diversity of institutional purpose and mission.

These beliefs represent the fact that accreditation in the United States has been developed by schools, for schools. Accreditation is meant to be a democratic and peer-review process, and educational quality decisions are not meant to be dictated by a central government, but rather left up to the academic community.

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The History of Accreditation

Accreditation in the United States was developed as a means to protect health and safety and to serve the public interest. Communities were growing quickly, and quality standards needed to be set for organizations meeting public needs, such as health care and education. In the 1800s, higher education was gaining ground in the United States, but there were few standards in place to determine the educational quality of an institution and distinguish one school from the next. Accreditation of colleges and universities evolved because students and school officials needed a process to define which campuses met traditionally held standards of educational quality. There was also a growing need to develop national standards for the transfer of credits between foreign institutions and U.S. schools.

Some of the first accrediting agencies in the country were regional ones formed in the 1880s. Accreditation then began to evolve along with the growth of peer review between institutions and accrediting agencies and the advancement of regulation and federal and state legislation. The development of regional standards in quality was the first natural step in the progression of accreditation. Later, national accreditation organizations were developed to set up minimum standards of quality throughout the country.

In 1912, to address the need for national standards, 23 private career schools created the National Association of Accredited Commercial Schools, now the Accrediting Council for Independent Colleges and Schools. ACICS, one of the first national accrediting bodies in the United States, is still one of the most respected and accredits more than 800 institutions in the United States and abroad, totaling a student population of about 700,000, according to its website.

In 1918, the American Council on Education (ACE) was founded to include more schools with varying academic programs and improve the effectiveness of the accreditation process. The ACE still focuses on inclusion of all types of schools in the accreditation process, and its member institutions enroll about 80 percent of all college students today.

During the ’30s, accreditation became common in the United States and was mainly organized and overseen by the accrediting agencies themselves. Then, when the GI Bill was developed at the end of World War II, the government began funding the education of military veterans. The federal government started to depend on accreditation to determine which schools should receive veteran money. Much of this funding would be applied to education in a particular trade or professional area, so there was an increased need for the clear evaluation of professional and specialized schools on a national scale. According to the ACICS website, new accrediting bodies were formed to create national standards for specialized and professional educational programs. Accrediting agencies such as the National Commission on Accrediting (NCA) and the Federation of Regional Accrediting Commissions of Higher Education (FRACHE) were formed to meet this need.

In 1952, near the end of the Korean War, the government passed another measure to provide veterans with educational funding. With the Veterans’ Readjustment Assistance Act, Congress enacted an educational assistance program similar to the GI Bill and also established a requirement that the U.S. secretary of education publish a list of recognized accreditation agencies. This fueled the need for the development of an organization that could provide comprehensive assessment of the quality of accreditation agencies.

In 1996 that organization—the Council on Postsecondary Accreditation (COPA)—was replaced by the Council for Higher Education Accreditation (CHEA). Today, CHEA serves as the primary authority to Congress and the Department of Education on higher education accreditation and the quality of accrediting agencies. So if CHEA does not approve the standards and methodology of an accrediting agency, it will not be included in the U.S. Department of Education’s list of recognized agencies. CHEA also serves as a source to the general public and international audiences on anything related to accreditation in the U.S.

According to CHEA At a Glance (pdf), it’s the largest education membership organization in the United States and includes approximately 3,000 colleges and universities. CHEA members also include 60 institutional and specialized accrediting agencies. The organization is overseen by a board of college and university presidents, institutional representatives and members of the public. CHEA serves as a national resource on facts and current issues in accreditation quality assurance and provides a forum for discussion about emerging topics in accreditation. The organization often enacts projects centered on strengthening the effectiveness of accreditation to better serve public interest and also mediates disputes between member organizations and institutions. CHEA keeps an up to date database of all of its accredited institutions and programs.

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Other Factors to Consider When Choosing an Online MBA Program

Rankings are just one way you can judge the quality of an online MBA program. There are several other strategies you can implement to make sure you have chosen a high-caliber online MBA program and not a fly-by-night one from a school that is happy to take your money in exchange for a worthless degree. Here, we will examine a few ways other than rankings to gauge the quality of an online MBA program.

Online Reviews

A less formal way of assessing the quality of an online MBA program is to do an Internet search for unbiased online reviews from students. You can find what students liked and/or disliked about certain programs from those who have firsthand experience with them. It’s important to note, however, that people are generally more likely to go online to complain about something than they are to praise it, so keep that in mind when reading reviews. The key is to look for recurring themes in these online reviews. If you read again and again that the faculty members in a certain program were unresponsive, make a note of it, as you should if you read often that the mentoring or cohort system at a school was beneficial and supportive. You may want to take what you learn and formulate some questions to ask when you call to inquire about specific graduate programs.

What’s Important to You?

When selecting an online MBA program, always consider the factors that are of particular importance to you. Although rankings and reviews give you an idea of what others think of a program, what really matters is whether it is able to meet your needs and help you reach your MBA career goals.

For instance, there are pros and cons to enrolling in private nonprofit business schools, private for-profit business schools and public business schools. Cost will be a major consideration for many students, particularly if their employer is not reimbursing their tuition or will reimburse only to a certain cutoff point. The availability of scholarships may be a deciding factor as well.

For those who want to complete their MBA as quickly as possible, the availability of an accelerated program may be a deciding factor. For others, part-time programs geared for busy professionals make much more sense. For some MBA students, campus visits are not feasible; for others, the availability of hybrid distance/on-campus courses or the occasional face-to-face experience would be a welcome addition. Another narrowing factor for you might be whether a program requires or offers an internship or overseas experience. You may prefer the cohort style of learning in which you take courses with the same small group of MBA students the whole time or one in which you have a variety of classmates.

There are different types of MBAs to weigh as well. If you have 10-plus years of experience in management, an executive MBA program may be ideal since it is geared for seasoned professionals. For those just getting started in the business world, a more generalist degree may be preferable. Still others know the specific industry they want to enter and thus may select a school that offers MBA concentrations in areas such as finance, marketing, international business or economics.

Accreditation

The most important step you can take in making sure an MBA program is of high quality is checking that the school that offers it is accredited. You can view the U.S. Department of Education’s Database of Accredited Postsecondary Institutions and Programs and the Council for Higher Education Accreditation’s database to see whether a school holds national or regional accreditation. Regional accreditation is the most widely recognized form of institutional accreditation, although national accreditation indicates a quality institution as well. Aside from institutional accreditation, you should verify that the business program is accredited by the Association to Advance Collegiate Schools of Business (AACSB). This gives students pursuing MBAs confidence that their business programs are sound, not just the institutions overall.

Narrow down MBA programs according to your preferences until you’ve found one that’s best matched to your needs. And always keep accreditation in mind. Learn more about accreditation and how it came about in the next chapter.

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OnlineMBA Guide

MBA Programs That Make The Most Sense For You

Before you make the commitment to earn an MBA, you must first understand exactly what an MBA is, as well as whether it’s the right degree program for you. An MBA, or a Master of Business Administration, provides a graduate education in foundational business practices, such as accounting, finance, marketing and management. It is often a beneficial degree choice for working professionals who need to obtain additional education to reach their career goals and climb the corporate ladders of business administration.

Students can specialize the degree in fields as diverse as health care and sports management. Taking an interdisciplinary approach to learning, MBA programs are not only meant to deepen students’ understanding of business management, but also to further develop their critical thinking, analytical and problem-solving skills.

A Brief History of the MBA

Although institutions of higher education around the world now offer MBA programs, this degree is American born and bred. The first graduate school of management, the Tuck School of Business, was founded in 1900 at Dartmouth College. According to the school’s website, it was the original graduate business school to award the Master of Commercial Science degree, which later became known as the Master of Business Administration. This idea of a graduate business education quickly caught on and in 1908, the Harvard Graduate School of Business Administration enrolled 80 students in the first ever MBA program, according to its website. Throughout the years, MBA programs have grown in number and range of subject matter.

The MBA Today

There are various types of MBAs available through online business schools. The most common type of MBA is designed for students whose professional interests center on traditional business functions. These MBAs offer such concentrations as finance, accounting, marketing, human resources, economics and business administration.

For the student who wants to make his or her mark in a particular business specialization, there are MBAs with concentrations in areas such as international, sports management, entertainment and electronic. Those who would rather focus on developing certain qualities or learning about a particular approach within business can choose such concentrations as entrepreneurship, leadership, e-commerce, health care, or six sigma.

The goal of most business professionals is to obtain a management position, and to effectively manage an organization within a particular industry substantial knowledge about it is necessary. Management MBAs are designed to help professionals develop their industry expertise in such areas as health care, hospitality, IT and supply chain. There are also MBA concentrations for those students who want to become experts within a certain area of management such as operations, organizational, project, risk or global.

For those who would rather focus on a certain field, there are concentrations in criminal justice, education administration, health care and technology. MBA programs have much to offer to someone who wants to specialize within a certain area of health care with concentrations such as health information technology, health services, health care administration, health care management and nursing. Technology is another big area for MBA programs, with many schools offering concentrations in computer systems, information technology, network administration and security, and technology management.

And then there is the Executive MBA, which is designed to augment the working professional’s career. The EMBA is typically geared toward accomplished professionals with several years of work experience. The program consists of refresher courses on functional business administration as well as classes that focus on the development of leadership qualities, networking abilities and problem-solving skills.

What an MBA Can Do for You

There are many benefits of getting your MBA, with the most significant one being greater employment opportunities in business administration. In a Graduate Management Admission Council 2011 Alumni Survey, 93 percent of respondents said that they were employed and 55 percent reported significant satisfaction with career progress since finishing their management education.

Not only do MBA graduates have better employment options, they also earn more money than people who haven’t been awarded the degree. Of the alumni who graduated in 2010, 7 out of 10 reported that their starting salaries were either as much or more than they expected, with a median starting salary of $78,820. Out of all the alumni who responded to the survey, the median starting salary was $94,542.

If you are still asking yourself whether you should go back to school to earn your MBA, consider the following: Although a bachelor’s degree and work experience are invaluable commodities on any resume, a graduate-level education can guarantee employers that you have the knowledge, abilities and motivation that will be demanded of you in a higher-level position. An MBA gives you credibility and distinction that cannot be earned in the workplace alone. Taking graduate level course work in business administration will prepare you to work in a wide range of industries, automatically increasing the number of positions for which you are qualified. MBAs are recognized in most countries as respected business credentials, opening up a world of career opportunities for such degree holders.

Why an Online MBA?

Now that you’ve decided that an MBA is what you need to get your career to the next level, it’s time to begin looking at what type of MBA program would be the best choice for you. There are many options when it comes to formats: on-campus full-time or part-time programs; evening or weekend courses for working professionals; and accelerated programs for those who want to earn their MBA in the shortest amount of time. If you are looking for an off-campus program that won’t require you to be at a certain place at a specific time, an online program may be right for you. Online MBA programs offer a unique learning experience that can often be customized to meet personal preferences, schedules or goals. These types of programs can be a great choice for independent learners who prefer self-directed study in which they set the pace for course completion.

Online Versus Campus Learning

On-campus and distance programs are similar in that students are essentially receiving the same education in terms of courses, curriculum and objectives. At times specific assignments, papers or projects may differ as to better accommodate an online format. For example, a large project that may be assigned to a group of students participating in a campus program may be scaled down for the individual student enrolled in an online program.

One of the biggest differences between the two types of programs is the way that information is distributed and received. Campus programs allow for in-person lectures, face-to-face discussions and assignments that are turned in directly to instructors. In online programs, technology takes the place of physicality, allowing students to use the Internet to watch a streaming video lecture, participate in a class discussion via chat room or turn in an assignment by uploading a file. Online programs deliver the same content and require the same amount of effort from students as on-campus ones but in a different way.

The Pros and Cons of Online Programs

There are many advantages of an online MBA program, with the most prominent one being the ability to pursue your degree while maintaining your career. Whether full-time or part-time, those with demanding work schedules often are unable to take time out of their day to attend class. Online MBA programs are great for those looking for flexible scheduling options, as they are distributed through a virtual learning environment that is accessible 24/7. Professionals trying to balance school and work don’t have to be stretched too thin as they have the freedom to complete course work around their job obligations. Another advantage of online programs is that you don’t have to relocate to receive a graduate education. These days school choice is not limited by those located within a convenient mile radius but by those that offer an online MBA option. The number of schools offering online MBAs is increasing daily as more and more brick and mortar universities incorporate Web education into their business programs. With the power of technology, it no longer matters that you are a department manager for a corporation on the West Coast—you can still receive an Ivy League business education.

There are also drawbacks when it comes to online MBA programs. For the student who learns best by attending lectures and studying the course material presented in those lectures, an online program might not be the most beneficial choice as it may lack the structure, accountability or direction that is needed. Online MBA programs utilize tools such as streaming videos, interactive chat rooms and Internet discussion boards to distribute information and facilitate learning. Although this may be adequate instruction for some students, it may not be for others, so it’s important to take into consideration whether face-to-face interaction is necessary for you to have the best educational experience. If personal attention is what you are looking for, than an online program may not be for you. Another disadvantage associated with online learning is that you will be unable to take advantage of the perks associated with a traditional on-campus experience. For example, students who are seeking internship or recruiting opportunities during their graduate education may not get what they need through an online program as on-campus programs are more likely to provide career services or host hiring events.

The Perception of Online MBAs

The stigmas that may have been associated with online education in the past are almost nonexistent in today’s society. Over the years these types of programs have gained more credibility and recognition, making the online MBA a valuable asset in the corporate environment. Perhaps this is why more and more public and private universities are getting on board and adapting their traditional on-campus MBA curriculum to an online format.

An online MBA is just as valuable as one earned through a traditional program, as students are required to master the same curriculum, meet the same expectations and rise to the same challenges. When it comes to receiving your diploma, there will likely be no differentiation between MBA graduates who completed their course work on campus and those who did it online. Technology makes it possible to conduct business from anywhere in the world, so utilizing it to complete an MBA can be a smart business decision.

How to Choose a Quality MBA Program

If you’ve made the decision to earn an MBA, it’s paramount that you choose a high-quality program, one that will provide you with a solid business education, valuable academic experience and impressive professional credentials. Consider the following factors:

Accreditation

The most important thing to look for is a program that is accredited by a respected business organization. These groups thoroughly examine business schools and programs to determine whether they meet academic standards. In the world of business education, there are three well-known accrediting organizations that are recognized by the U.S. Council for Higher Education Accreditation, the U.S. Department of Education or both.

The most prestigious group is the Association to Advance Collegiate Schools of Business, which was founded in 1916 and is the oldest business school accreditor. The association has granted AACSB accreditation to 620 member institutions in 38 countries, according to its website.

The second group, the Accreditation Council for Business Schools & Programs, has been dedicated to its mission of promoting excellence in business education since its inception in 1988. Even though ACBSP is fairly young, it accredits 529 campuses and more than 700 MBA programs, according to its website.

The International Assembly for Collegiate Business Education, formed in 1997, is the newest of the three accrediting groups. IACBE accredits business programs and colleges and universities worldwide that demonstrate characteristics of excellence, with more than 230 member educational institutions in more than 20 countries, its website says.

Faculty

When it comes to an online MBA program, the importance of esteemed faculty members who are experienced, educated and innovative cannot be underestimated. Students should be wary of a program in which instructors act more as course managers doing administrative work than actually teaching. Ideally, there should be little to no difference between online and on-campus instructors when it comes to education levels, academic background and professional experience. MBA program faculty members are usually required to have a graduate-level education, professional work experience in an area relevant to business and a specialization or expertise in the course they are instructing. Additionally, online instructors have the added challenge of having to teach students using nontraditional methods, which means they have to make an extra effort to engage and motivate. Therefore, it is also extremely important that faculty members of online MBA programs are tech savvy as they will be required to use a variety of Internet tools to create lessons, direct discussions, distribute information and manage assignments. Once you find a program that you are interested in, spend some time researching the educational and professional backgrounds of faculty members. If you are unable to find enough information, don’t be afraid to contact the school and ask what credentials the online instructors possess and what training they have had to teach successfully in a virtual learning environment.

Curriculum

Quality online MBA programs will consist of the same, or extremely similar, curriculum as that of on-campus ones. Most programs consist of the same assignments, readings, research and activities as their on-campus counterparts. This ensures that there is little difference in education between the traditional and online student. Remember that earning an MBA online doesn’t mean less work, and sometimes may require even more academically from students in terms of activities as they are not required to be present for class time. You can check whether the quality of an online MBA program is the same as that of an on-campus one by comparing the two formats’ required courses, major projects, materials, assignments and examinations.

Technology

Considering that an online MBA program is delivered completely electronically, technology is a key aspect to consider. A high-quality program will take advantage of the most recent technological advances and utilize them to enhance the virtual learning experience. Most programs will be facilitated through a virtual classroom where students can conduct school related activities such as accessing course materials, turning in assignments, streaming instructional videos, participating in discussions, responding to lessons and keeping track of grades. It’s important that these systems have a user-friendly interface that is easy to understand and navigate, as well as an overall design that encourages interactivity, participation and communication. Many schools will let you take a look at the type of software, systems or other technological tools that are used in their online programs to help you decide whether they will provide you with an adequate learning experience.

Ranking

Each year various reputable publications, websites and organizations release their lists of annual college rankings. These rankings are designed to show how academic institutions stack up against one another in terms of faculty, instruction, reputation and student mix. While each publication or organization uses its own methodology to determine ranking placement, common factors include student selectivity, quality of faculty, curriculum, methods of instruction, student satisfaction and employment outcomes. Students shouldn’t choose a school on rankings alone, but they can be a useful tool when comparing MBA programs. A higher-ranked business school may be more likely to provide you with a quality education than one that is not ranked at all. Our next section will tell you more about MBA rankings.

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4 Questions to Ask About Student Groups in Online MBA Programs

For many students over the years, the appeal of an in-person MBA program has been just as much about the chance to make professional connections as the academic experience.  

And now as online programs mature, experts say more students exploring virtual MBA options are weighing similar factors.

The network "is a big reason why one would choose an MBA," says Dan Bursch, program director of MBA@UNC, the online MBA program at the University of North Carolina—Chapel Hill. "So creating a tight network within a virtual community is essential. I think it's something students are expecting."

The availability of student clubs, groups and associations may be important to prospective online MBA students because of the chance they provide to forge close connections. Below are four questions to ask to help determine the potential quality of virtual student groups and additional networking opportunities in an online MBA program.

[Join a virtual club as an online student.]

1. Do online and on-campus students mix? Student associations at some online MBA programs may exist entirely separate from the associations for on-campus students, while others may combine membership between online, face-to-face and even blended programs. And experts say there can be benefits to both approaches.

Exclusively online student organizations may have developed better means of communicating, supporting and creating access to group activities in a virtual setting than groups catering to students in multiple mediums. On the other hand, combined groups afford access to a wider network of current and future business professionals, especially in programs where many virtual students are locally based.

At North Carolina State, for example, most online business students live within reasonable driving distance and are seeking professional connections within the area, known as the Research Triangle region. For that reason, says Claire Jefferies, the school's Jenkins MBA program director of student and academic engagement, groups combining online and on-campus students make sense.

Jefferies adds, however, that online students should ask about the level of virtual access to activities for student associations that cater to both face-to-face and online programs.

"It’s one thing to say, 'Yes you can join,' and another to put effort into making it easy and accommodating to them," she says.

2. Is there dedicated faculty and funding? Fully virtual student associations may not require a physical meeting space, but benefit substantially when they are afforded dedicated funding and faculty mentoring, says Jo Cooey, president of the online Women in Business Association at Indiana University's online MBA program, part of Kelley Direct.

Having a dedicated faculty liaison gives her group the credibility necessary to create formal relationships with external professional organizations, Cooey says. Meanwhile, dedicated funding dramatically increases the quality of virtual group events, and particularly of virtual guest speakers the group can attract.

3. Are students nearby? Although one attraction of online programs is that living near campus isn't required, students considering online MBA programs may want to know if a program draws a lot of students from their region.

The proximity of other students may lead to a stronger groups and associations because it allows them to hold regular in-person events in addition to virtual meetings. This can be more common at state schools that attract more in-state students, experts say.

"The majority of our students live within a pretty reasonable driving distance," Jefferies explains. "They may just work 45 minutes away and can't come back to campus at night. We actually have quite a few online students participate in our student activities just as our face-to-face students would."

But students considering a more distant online MBA program shouldn't completely discount the potential for in-person interaction with other students. Some programs may have student groups centered in major metropolitan areas, Bursch says. Others may have regular residential componentsthat require students to spend a few days a year on campus or at another location.

4. Can students find connections beyond campus? At programs with fewer students, the lack of a robust community of online student associations may be made up for with strong ties to external professional associations.

[Learn how to find a mentor as an online MBA student.]

At James Madison University, for example, the information security MBA online program has an average cohort size of about 20 students, says Michael Busing, the business college's dean of academic affairs.​ But the program maintains a range of partnerships with external industry groups that allow students access to more resources.

As one example, the school worked with Women in Cybersecurity, a group that works to promote women in the field, to send a half-dozen online students to the organization's annual spring conference over the past two years.

"Because they are professionals with significant number of years of work experience, we really try to get them involved more in the professional organizations," Busing says. "Graduate students, at least in our experience, think longer term. So if it's not going to have immediate value, they know it will have value two years down the road."

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