The breakneck pace of technological advancements has made it possible for us to pursue higher education online in multiple fields without really missing out on the actual education and training. Online courses are not really new of course, since they have been around for decades now.
What is relatively new, however, is the availability of hardware and software resources that educators and students have at their disposal today. Despite everything, there are of course limitations to how much and what can be studied via online programmes.
The good news for working professionals, business owners and undergraduate management students, is that those limitations have very little to do with studying a business degree online. As it happens, there are more reasons to prefer online business schools over traditional ones, and we are going to discuss those reasons next.
As if Covid-19 alone wasn’t bad enough, we now have multiple new variants of the mutated coronavirus which was originally causing the disease. There is no telling whether the new vaccines will be effective against all of these new strains or not, which has led to both panic and a very real sense of danger. As the pandemic is not about to give up anytime soon, it just makes a lot more sense to stay safe and study online.
By now, most of us have become quite used to working online, so the format is perfectly suited for pursuing a business degree on the side, without jeopardising social distancing norms.
Even if you complete an AACSB, Equis and AMBA accredited business degree online, it would still prove to be significantly more affordable than similar offline certification courses. This difference in cost of education is brought about by the following factors:
• Due to the internet-only design, online business courses can forego a lot of expenses which would otherwise be unavoidable if they were to teach in-person at the campus.
• Both national and international students can save money by not having to pay extra for food, lodging and other expenses that come naturally with shifting to a new place away from home.
• Even for students living near the university, daily commuting can become a nuisance and expense.
Traditional business schools will not accommodate a flexible routine, but online business schools are designed for professionals who already have a job. What this means is that by studying online, it is possible for professionals to gain both job experience and a business degree at the same time. A traditional programme is simply too rigid and time-consuming for that.
If you can attend your classes from any part of the world, or your own house, the convenience factor cannot be ignored! Students can attend classes even if they are not in the best state of health, ensuring a better rate of attendance than would be possible to achieve while attending a traditional business school.
Sitting in front of a desktop or laptop with a proper setup is the preferred method of attending live classes, but modern smartphones can get the job done as well. The ability to use mobile phones for attending online classes has been revolutionary for digital education as a whole.
Unfortunately, brilliant minds are often restricted by physical ailments or conditions, making it impossible for them to attend business school in real life. For them, online business programmes are the only option.
Even if someone is able to attend their university with difficulty, that is no longer necessary. Business education via the internet has made management degree courses accessible to a much wider range of people than before. This holds true for nearly every field of online education and not just business graduation courses.
There is a major advantage of online courses which very few of us ever talk about, which is the benefit of flexibility. We are not referring to the flexibility of programmes designed for working individuals, but rather the flexibility to update an online business course with the latest changes, if and when they become necessary.
This is extremely difficult to pull off in the middle of a year if you are running a traditional business school, but online programmes can be updated with the necessary changes to keep it relevant with the changing times, without too much of a hassle.
This does not hold true for any random, online business degree mind you, but only the best ones. The faculty in question has to be dedicated and willing to take advantage of the online flexibility, so that they can teach and train their students better.
Since professionals can hold onto their jobs, they will find paying the tuition fees for their higher education to be a lot more affordable with online programmes. However, the advantage is more than just affordability here, as online business programmes are also more profitable. To get a better understanding of the profitability factor, check the following comparison:
Online Business School – Professionals can hold on to their current job, which negates the financial burden of suddenly becoming an unemployed student.
Traditional Business School – Here, a person would have to leave their job, or find part-time work, which would consequently remove or reduce their income completely or significantly.
Online Business School – Professionals simultaneously gain job experience and a management degree at the end of the term, but save even more as the fees are lower online and they don’t have to commute or pay rent in another city.
Traditional Business School – In addition to losing a source of income and years of job experience, a student must now also pay higher tuition fees, and extra money for lodging, eating, etc.
As you should be able to tell by now, the advantages that online MBA and MSc in Business Management courses have over their traditional counterparts are quite significant. As mentioned, there are limitations to how much and what can be taught by a purely online programme, but business management degrees are not affected by those limitations.
Their curriculums can be taught in their entirety via the internet. Depending on the student and the chosen programme’s curriculum, a few in-person classes can also be arranged for, but that is not a necessity for getting a business degree.