Executive Programs are an alternative to MBA programs for experienced managers. We explain why Executive Programs are needed, how much they cost, and where to find them.
Executive Programs — programs aimed at managers and company executives who need additional professional knowledge to quickly implement their projects. As a rule, it can be obtained in the MBA program, but everyone knows that this is a very long and time-consuming journey, so to meet the requirements of the modern market in the field of business education, business schools have offered experienced managers a more profitable alternative — Executive Programs.
The content of such programs is focused on the improvement of specific aspects, i.e. they have a narrower specialization than traditional MBA programs. For example, Executive Programs focus on accounting and finance, strategy development, and negotiation. There are specialized Executive Programs designed for professionals in a particular industry — for healthcare, IT, engineering, etc. Executive Programs can combine evening classes on weekdays with afternoon classes on weekends, or take a student's full day of study. The main emphasis in such programs is on independent work, training takes place in a very intensive mode.
Who is the Executive Program for?
Heads of companies without specialized business education with at least 5-7 years of work experience in the profession.
Managers and owners of a business who want to increase their competence in matters of personnel management, development of a company promotion strategy, and work with clients, partners, and competitors.
Managers who do not have a lot of time for long-term training in MBA programs.
Managers who do not have a certificate of successful completion of the GMAT exam, as well as those who do not meet the entry requirements for an MBA course (this is a great opportunity to gain the knowledge base necessary for further MBA studies).
Benefits of studying at Executive Programs
The course is aimed at managers and owners of businesses who do not have an education in the field of business.
A short-term program, due to its intensity, allows you to get an impressive amount of knowledge in a short time.
Relatively low cost compared to MBA programs.
The opportunity to study full or part-time, in the evening or remotely.
Does not require passing entrance exams.
Does not require the defense of a graduation project or dissertation.
Focused Open Programs lasting from 1 to 10 days allow you to get maximum information on a highly specialized topic in a minimal time. Students can apply the acquired knowledge in practice immediately after completing the program. Many schools offer courses in marketing and finance, human resources, accounting, and more.
Advanced Executive Programs are the most expensive courses covering the full range of basic management knowledge and skills, including personnel management, finance, marketing, strategy, briefing, negotiation, and much more. The cost of such programs can reach up to 50 USD — 70 USD in the most prestigious US business schools. Since the duration of advanced courses varies from 4 to 8 weeks, they are often divided into several modules of 1-2 weeks, which are held with a break (perhaps 1-2 months). Such programs are aimed at managers who do not have time for long and continuous training away from the work process. Advanced Executive Programs can be held in different places (cities or even countries). An equally interesting point is that some business schools are willing to offer management programs with specific specializations, for example, in the field of media, oil and gas, or entertainment.
Customized Programs are developed specifically for the needs and goals of a particular company. The content of the course largely depends on the initial level of knowledge of the company's employees and its financial capabilities. Such programs do not have a single fixed duration and depend on the factors described above.
Most short-term management programs take place in the classroom format, but many leading business schools go beyond the usual face-to-face training, supplementing it with online modules. Thanks to such experiments, blended programs appeared, which gained wide popularity among leaders and managers. They allow course participants to receive training with a minimum of interruption from work, study the theoretical part using online classes and practice the acquired knowledge in practical classes in the classroom, together with other students.
Tuition fees for Executive Programs in different countries
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London School of Business and Finance (United Kingdom)
Since the Executive Programs are short-term courses, this is fully reflected in the content and structure of the programs. Information is presented in small blocks, including:
Organization management (introduction of new technologies, strategies for the development of the company, the impact of employee incentives on the efficiency of the company, etc.).
Personnel management (setting the right goals, motivation, personnel behavior, corporate culture formation, and much more).
Work with competitors (analysis of the competitive environment, work with the media, etc.).
At least 5-7 years of experience in a management position (some top business schools like Harvard Business School accept for training only students with 10 years of work experience)
Language certificate IELTS with a score of 6.0 minimum or TOEFL iBT 90
It is noteworthy that for admission to the Executive Program, you do not need to have a specialized business education, it is enough to have relevant work experience.
How are Executive Programs different from Executive MBA?
The main difference between Executive Programs and Executive MBA lies in the fact that the latter is aimed at obtaining a degree in higher education, i.e. at the end of the course, the graduate receives a master's diploma in business administration. In the case of Executive Programs, the situation is different: the passage of this program does not lead to a diploma, and the maximum that awaits a graduate is a certificate of completion of the course. It is noteworthy that not all business schools issue certificates to their graduates. At first glance, its absence does not seem to be the most important detail, but it is better to clarify this point before paying for the course. The certificate is important for those who want to have a visual confirmation of the acquired knowledge. This is another plus on the resume. In addition, the Executive MBA program requires passing the GMAT exam, while the Executive Program does not impose such requirements.
For admission to the Executive Program, you need only a good knowledge of a foreign language, as a rule, English, confirmed by an international certificate TOEFL / IELTS, and a working experience in a managerial position. Another difference between the programs is their different duration: the Executive Programs are short-term courses (up to 4-8 weeks), and the Executive MBA is a full-fledged master's program lasting up to 18 months, which requires entrance examinations.
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