AACSB (Accreditation)
AACSB stands for Association to Advance Collegiate Schools of Business. AACSB is the most prestigious international accreditation institution for business schools and MBA programs. AACSB accreditation is considered the highest quality seal and is awarded to only about 5% of all business schools worldwide. It guarantees the highest standards in teaching, research and student support.
Example: "The business school has been AACSB-accredited since 2015, which is why its MBA is recognised internationally without issue."
Accreditation
Accreditation is a quality assurance process in which degree programs or universities are reviewed by independent agencies. Accreditation guarantees that a program meets defined quality standards. In Germany, accreditation is mandatory for Bachelor and Master programs. Internationally recognized accreditations are AACSB, EQUIS and AMBA.
Example: "Before applying, she checks whether the programme holds a valid accreditation."
ACQUIN
The Accreditation, Certification and Quality Assurance Institute (ACQUIN) is one of the leading German accreditation agencies. ACQUIN conducts assessments of Bachelor and Master programs and reviews their quality according to European standards. ACQUIN accreditation is recognized in Germany, Austria and Switzerland.
Example: "The Master's programme was reviewed by ACQUIN and re-accredited for seven years."
Action Learning
Action Learning is a practice-oriented learning method in MBA programs where students work in small teams to solve real business problems for partner companies. Unlike theoretical case studies, teams work on current challenges, develop solutions, and present them to management. Action Learning connects theory and practice, promotes teamwork, leadership, and problem-solving skills. Many top business schools use Action Learning as a central pedagogical element.
Example: "In action learning the team solved a real logistics problem from its employer."
Admission Office
The Admission Office is the admissions office of a business school or university that decides on the admission of applicants. For MBA programs, the Admission Office evaluates not only academic qualifications but also professional experience, motivation and personal suitability of candidates.
Example: "Questions about missing documents are best clarified directly with the school's admission office."
Admission Requirements
Admission requirements are the criteria applicants must meet to be accepted into an MBA program. Typical requirements include a first university degree, work experience, language certificates, and possibly GMAT/GRE scores. Requirements vary by business school and program type (MBA vs. EMBA).
Example: "Admission requirements include a first degree and three years of work experience."
AI Governance
AI governance is the framework of principles, processes and controls through which organizations steer the use of artificial intelligence – from data quality and model transparency to ethics and legal compliance (EU AI Act, GDPR). In the 2026 MBA curriculum it is a central leadership competence: managers must decide which AI use cases are permissible, which risks are acceptable and which governance roles (e.g. AI officer, data protection officer) are required.
Example: "First the team defined AI governance rules for using generative models."
Alumni
Alumni are former graduates of a university or business school. Alumni networks offer important career advantages: they enable exchange with successful executives, open doors to top companies and often provide exclusive job offers. A strong alumni network is an important quality criterion when choosing a business school.
Example: "Through the alumni network he found a new position within a few weeks of finishing his MBA."
AMBA (Accreditation)
The Association of MBAs (AMBA) is the leading British accreditation organization for MBA programs. AMBA accreditation certifies the highest quality and is recognized worldwide. Together with AACSB and EQUIS, AMBA forms the 'Triple Crown' - the seal of quality for excellent business schools.
Example: "Because the programme is AMBA-accredited, it counts among the recognised MBA degrees in the UK."
Ambidexterity
Ambidexterity is the leadership skill of running the existing core business efficiently (exploitation) while simultaneously daring radical innovation (exploration). In the AI- and transformation-driven economy of 2026, ambidexterity is considered one of the most important capabilities of modern executives and is trained deliberately in top MBA programs.
Example: "Ambidexterity means optimising the core business while building something new at the same time."
Assessment Center (MBA)
An assessment center in the MBA context is a multi-hour selection process used by some business schools instead of or in addition to the GMAT. It typically includes group exercises, case studies, presentations, and individual interviews. It evaluates analytical skills, teamwork, leadership potential, and communication skills.
Example: "In the assessment centre, applicants worked on a case study in small groups."
Bachelor
The Bachelor is the first professionally qualifying university degree and a prerequisite for a Master's program. A Bachelor's program typically lasts 3-4 years (180-240 ECTS) and provides fundamental subject knowledge. Common degrees are Bachelor of Arts (B.A.), Bachelor of Science (B.Sc.) and Bachelor of Engineering (B.Eng.).
Example: "With her Bachelor's in business informatics she meets the academic admission requirement for the MBA."
Blended Learning
Blended Learning is a hybrid learning concept that combines in-person teaching with online elements. In the MBA context, this means: online modules for theoretical foundations (video lectures, interactive exercises, discussion forums), supplemented by in-person blocks for workshops, case studies, networking and exams. Benefits include the flexibility of online learning combined with the personal interaction and networking of in-person phases. Blended Learning MBA programs are ideal for working professionals who need flexibility but don't want to miss the campus experience.
Example: "In the blended learning format he studies online and meets the cohort on four on-campus weekends per semester."
Broken Rung
The „Broken Rung“ refers to the McKinsey-identified phenomenon that women are significantly less likely than men to be promoted at the very first step – from individual contributor to manager. On average, only 80 women are promoted for every 100 men. The gap widens with every career step and is more important for the leadership imbalance than the classic glass ceiling. An MBA is considered one of the most effective tools to overcome the broken rung.
Example: "The broken rung shows up at the first promotion into middle management."
Business School
A business school is an academic institution specializing in business education. Business schools primarily offer MBA, Master and Executive programs. Renowned business schools are characterized by excellent teaching, international networking, strong alumni networks and high-level accreditations.
Example: "In addition to the MBA, the business school also offers shorter executive programmes."
Business Simulation (Business Game)
A business simulation is a computer-based company simulation in which teams take decisions on pricing, production, investment, staffing and marketing across several virtual business years and immediately see their effect on market share, cash flow and profit. Modern versions use AI-driven competitors, avatars for negotiation and customer conversations, and data-driven real-time feedback. Business games are the core tool of experiential learning in MBA programmes.
Example: "In the business simulation five teams ran competing companies over eight rounds."
Capstone Project
A Capstone Project is a comprehensive final project at the end of an MBA program in which students apply their acquired knowledge from all subject areas (strategy, finance, marketing, operations) to a real-world practical project. It is often conducted in collaboration with a company and includes analysis, strategy development, and action recommendations. The Capstone Project is an important component of many MBA curricula and serves as a bridge between study and professional practice.
Example: "In the capstone project the group developed a market entry plan for India."
Career Change
A career change refers to the deliberate switch of industry, function or both in one's professional path. In the MBA context it is one of the most common study motives: 40–60% of MBA graduates change industry or function after graduation. The MBA acts as a career accelerator (from specialist to executive) and as a bridge (lateral entry into new industries). Typical switches: engineer → strategy consulting, IT → product management, physician → healthcare management, lawyer → corporate development. Success factors are clear goals, the right program format (2-year full-time MBAs with summer internship are especially suitable), strong recruiter presence of the school in the target industry, and active use of career services and alumni network.
Example: "The MBA enabled her career change from research into product management."
Career Service
The Career Service of a university supports students and alumni in career planning and job search. Services include application training, career counseling, placement of internships and jobs, organization of recruiting events and contacts with companies. A professional career service is particularly important for MBA programs.
Example: "The career service revised his CV and arranged two interview training sessions."
Case Study
The Case Study method is a central teaching approach in MBA programs, developed at Harvard Business School. Students analyze real business situations and company problems to make strategic decisions. The process: Students receive a detailed case (10-30 pages) with company data, market analyses, and decision situations. They prepare the case, discuss in small groups, and present their solutions in plenary sessions. Benefits include practice-oriented problem-solving, development of analytical skills, and practice in decision-making under uncertainty. Top business schools like Harvard, INSEAD, and IMD make extensive use of case studies (up to 500 cases during the program).
Example: "In the case study the group decided whether a mid-sized company should enter the US market."
Complementarity Effect (AI)
The complementarity effect describes the productivity-enhancing role of AI: people who use AI tools skilfully solve complex problems faster, work more creatively and develop new business models. Economists warn that companies under short-term cost pressure often opt for substitution instead of investing in the long-term more valuable human–machine interplay. Which effect dominates is therefore primarily a leadership decision, not a technical one.
Example: "The complementarity effect appears when AI delivers analyses and humans make the decisions."
Consecutive Master
A consecutive Master's program builds on a subject-related Bachelor's degree in terms of content. It deepens and specializes the knowledge acquired in the Bachelor's. Consecutive Master's programs usually last 2-4 semesters (60-120 ECTS) and can be started directly after completing a Bachelor's degree.
Example: "The consecutive Master's builds directly on her business administration Bachelor's."
Continuing Education
Continuing education refers to all educational measures after completion of initial training. Academic continuing education includes Master's programs, MBA, certificate courses and executive education. Continuing education serves career development, specialization and advancement into leadership positions. Many programs are designed for part-time study.
Example: "The employer covered half the cost of this continuing education programme."
Credit Points
Credit points (also ECTS points or credits) measure the workload of a study program. One credit point corresponds to approximately 25-30 working hours. A Bachelor's program comprises 180-240 ECTS, a Master's program 60-120 ECTS. Credit points are standardized throughout Europe and enable recognition of academic achievements when changing universities.
Example: "The financial management module is worth six credit points."
Curriculum
The curriculum refers to the entire study plan of an MBA program, including all required and elective courses, internships, projects, and examinations. A typical MBA curriculum includes core subjects (Finance, Marketing, Strategy, Operations, Leadership), electives for specialization, soft skills modules, international study trips, and a Capstone Project. The quality and currency of the curriculum is an important selection criterion when choosing a program.
Example: "In 2026 the curriculum was extended by a compulsory module on AI governance."
Curriculum Fit
Curriculum fit describes how well an MBA programme's content matches individual career goals. Relevant factors are core and elective modules, practical components, study abroad options, capstone projects, language of instruction and study format. A programme ranked 40th with a precisely matching curriculum, a reachable location and a relevant alumni network usually delivers more career impact than a higher-ranked programme whose focus misses your objectives.
Example: "The curriculum fit was right: four of six electives matched her career goal."
DAAD
The German Academic Exchange Service (DAAD) is the world's largest funding organization for international exchange of students and academics. The DAAD awards scholarships for study abroad, MBA programs, and continuing education. For MBA applicants, the DAAD offers various funding programs, including scholarships for international MBA programs, research stays, and exchange between German and foreign universities.
Example: "Through the DAAD she received a scholarship for a semester abroad in Singapore."
DBA (Doctor of Business Administration)
The DBA (Doctor of Business Administration) is a practice-oriented doctoral degree for experienced executives. Unlike the PhD, which focuses on purely academic research, the DBA combines scientific methods with real business questions. Typical DBA candidates have 10-15+ years of work experience and an MBA or comparable Master's degree. The part-time study takes 3-5 years. The DBA is suitable for managers who want to deepen their expertise at the highest level without pursuing a purely academic career.
Example: "After the MBA he added a part-time DBA."
Decision Rights
Decision rights define which level or role in an organisation may take which decision – from investment approvals and pricing changes to staffing decisions. Unclear decision rights are one of the most common causes of slow implementation and stalled innovation. In organisational design they are treated, together with degrees of autonomy and the sequencing of change steps, as a core design decision.
Example: "Only a clear allocation of decision rights sped up the approval processes."
DEI (Diversity, Equity, Inclusion)
DEI stands for Diversity, Equity and Inclusion. In management education, DEI is considered a driver of innovation, employee retention and business success. Leading business schools embed DEI in curriculum, admissions (diversity scholarships), faculty and case studies. Despite anti-DEI debates in the US, DEI remains a firm component of modern MBA programs in Europe and an important selection criterion for values-driven candidates.
Example: "The school publishes DEI metrics on its cohorts every year."
Disruption
Disruption describes a process in which an existing technology, product or business model is replaced by a radical innovation. In the world of work, the term refers to the profound transformation of industries and job profiles driven by AI, automation and digitalisation. For professionals and executives, permanent disruption means linear careers are becoming rarer and proactive career change is turning into a core competence. MBA programmes address the topic in strategy, innovation and digitalisation modules, teaching tools to evolve business models under uncertainty.
Example: "Generative AI is currently causing disruption in management consulting."
Distance Learning
Distance learning enables location-independent and time-flexible studying. Teaching materials are provided digitally or by mail, exams take place at decentralized locations. Distance learning Master programs are particularly popular with working professionals and offer maximum flexibility in time management.
Example: "Distance learning allows her to sit exams at her home location in Austria."
Divestiture
A divestiture is the separation or sale of a business unit, for example as a spin-off, carve-out or sale to an investor. The aim is usually to focus the core business or release capital. Success depends heavily on execution: transition services, clear decision rights in the new entity and the right sequencing determine whether the expected value is actually realised.
Example: "The group financed its digitalisation through the divestiture of a peripheral division."
Dual Degree
A Dual Degree is a study model where students simultaneously earn two degrees at two different universities – often in different countries. In the MBA field, dual degree programs enable the acquisition of an MBA together with another Master's degree (e.g., in Finance, Engineering, or International Management). Advantages include an expanded international network, intercultural experience, and two recognized degrees in a shorter study period.
Example: "In the dual degree she received qualifications from a German and a French institution."
Dual Studies
A dual study program combines academic education at a university with practical work experience in a company. Students alternate between theory and practice phases and usually receive remuneration from the partner company. Dual Master programs are particularly common in business administration and engineering.
Example: "In her dual study programme she alternates every three months between university and her employer."
ECTS
The European Credit Transfer and Accumulation System (ECTS) is the European system for crediting and transferring academic achievements. It enables Europe-wide comparability and recognition of academic achievements. 60 ECTS points correspond to one year of full-time study (approx. 1,500-1,800 working hours).
Example: "The MBA comprises 90 ECTS and is therefore comparable across Europe."
Education Loan
An education loan is a purpose-specific loan for financing studies or continuing education. In Germany, KfW offers student loans (up to €650/month) and education loans (up to €7,200). In Austria, aws provides education loans. In Switzerland, cantonal banks offer corresponding products. Education loans typically have lower interest rates than regular consumer loans and repayment-free periods during studies.
Example: "He covered the remaining fees with a low-interest education loan."
Employability
Employability describes graduates' ability to secure work: how quickly they find a suitable role after graduation, what share is placed within three to six months and how sustainably role and salary develop. For programme selection, employability is more meaningful than a ranking position because it rests on verifiable metrics such as placement rate, employer lists and career service provision – figures you should ask about explicitly in an advisory conversation.
Example: "Graduate employability stands at 92 percent within three months."
Enrollment
Enrollment (Immatrikulation in German) is the formal process of being admitted as a student at a university. After a successful application and admission, students are officially admitted to the university through enrollment and receive their student status. For MBA programs, the process often includes payment of the first tuition installment and participation in an orientation week in addition to enrollment.
Example: "After the offer, enrolment took place within two weeks."
EQUIS (Accreditation)
EQUIS (European Quality Improvement System) is a European accreditation system for business schools, managed by the European Foundation for Management Development (EFMD). EQUIS evaluates the entire institution and not just individual programs. It is one of the three most prestigious international accreditations alongside AACSB and AMBA.
Example: "EQUIS accreditation assesses the entire school, not just a single programme."
Executive MBA (EMBA)
The Executive MBA is aimed at experienced executives with at least 5-10 years of professional experience. The program is completed part-time and lasts 18-24 months. Executive MBA programs are more intensive and practice-oriented than regular MBA programs and often cost between 30,000 and 100,000 euros.
Example: "With twelve years of leadership experience he chose an Executive MBA instead of a classic MBA."
Experience Capital
Experience Capital refers to the skills, knowledge and responsibility acquired on the job – as opposed to education and talent. According to McKinsey, experience capital accounts for around 50% of lifetime career and earnings potential. Women build less experience capital on average because they less often take on leadership and P&L roles. An MBA accelerates the build-up of experience capital through leadership projects, internships, consulting cases and cross-industry assignments.
Example: "Her experience capital from twelve years of project leadership offset missing theory in the EMBA."
Experiential Learning
Experiential learning describes a teaching approach in which students build management capability through their own actions: simulations, consulting projects with partner companies, negotiation and decision-making exercises under uncertainty, and structured reflection. Instead of ready-made model answers, the focus is on incomplete information, conflicting interests and real market dynamics. Leading business schools now anchor experiential learning firmly in the MBA curriculum because employers value the ability to act over pure theoretical knowledge.
Example: "Here experiential learning means a two-week consulting project at a client site."
FIBAA (Accreditation)
The Foundation for International Business Administration Accreditation (FIBAA) is a leading accreditation agency in German-speaking countries. It evaluates the quality of degree programs, particularly in business administration. The FIBAA premium seal is only awarded to outstanding programs.
Example: "The programme carries the FIBAA premium seal for particularly high quality."
Forté Foundation
The Forté Foundation is a global non-profit consortium of leading business schools, companies and universities dedicated to advancing women in business and leadership. Its core offering is the Forté Fellowships – high-value scholarships for women at more than 50 partner schools (including Harvard, Stanford, Wharton, LBS, INSEAD, IESE), sometimes covering full tuition. Forté also runs MBA Launch programs, conferences and career coaching for women.
Example: "Through the Forté Foundation she applied for a scholarship for women in MBA programmes."
Full-Time Studies
A full-time program requires students' full-time availability. Classes take place during the day on weekdays. A full-time Master's usually lasts 2-4 semesters. Full-time students can focus intensively on their studies; employment is hardly possible.
Example: "For the full-time programme he took twelve months of unpaid leave."
Glass Ceiling
The Glass Ceiling describes invisible, structural career barriers that prevent women and minorities from advancing to top leadership. In top management of large listed companies, the share of women is still around 20%. Causes include male-dominated networks, lack of role models, unconscious bias and non-transparent promotion processes. Business schools actively counter the glass ceiling with leadership programs, sponsorship and diverse faculty.
Example: "Despite excellent reviews she hit the glass ceiling just below board level."
GMAC Survey
The Graduate Management Admission Council (GMAC) is the association behind the GMAT and regularly publishes studies on application behaviour, employer demand and starting salaries of management graduates. GMAC surveys such as the Corporate Recruiters Survey or the Prospective Students Survey provide more robust market data than ranking positions alone, because they capture demand and salary trends across many programmes.
Example: "According to the GMAC survey, employers continue to plan MBA hires."
GMAT
The Graduate Management Admission Test (GMAT) is a standardized test to evaluate analytical, mathematical and language skills. Many international business schools require a GMAT score for MBA admission. The test lasts about 3.5 hours and is offered worldwide in test centers. A good score is 650+ points.
Example: "She prepared for three months and scored 680 on the GMAT."
GRE
The Graduate Record Examination (GRE) is a standardized test accepted by many graduate programs worldwide as an admission requirement. The GRE General Test consists of three sections: Verbal Reasoning (text comprehension and vocabulary), Quantitative Reasoning (mathematical skills) and Analytical Writing. The test takes approximately 3 hours and 45 minutes. Verbal and Quant scores each range from 130-170 points. An increasing number of business schools accept the GRE as an alternative to the GMAT for MBA applications. The GRE is particularly popular with applicants who want to apply to multiple program types (MBA, Master's, PhD).
Example: "Many schools accept the GRE as an alternative to the GMAT."
Hard Skills
Hard Skills are measurable, technical competencies taught in MBA programs. Core areas include: Financial Analysis (valuation, financial planning, investment analysis), Accounting (Financial and Managerial Accounting), Data Analysis (Excel modeling, statistics, business analytics), Marketing Analytics (market research, campaign analysis), Operations (supply chain, process optimization, Six Sigma), and Strategy (frameworks like Porter's Five Forces, SWOT, BCG Matrix). Unlike soft skills, hard skills are directly applicable tools for business management. Employers expect MBA graduates to have solid hard skills combined with the necessary soft skills for effective leadership.
Example: "His hard skills include financial modelling and SQL."
Human Skills
Human skills (also called power skills) are competencies that are hard to automate: negotiation, empathy, leadership ethics, conflict resolution, storytelling and strategic resilience. As reproducible expertise loses value through generative AI, top business schools are shifting the focus of their MBA curricula toward human skills – complementing data fluency and AI governance.
Example: "The more tasks are automated, the more human skills such as facilitation matter."
IELTS
The International English Language Testing System (IELTS) is one of the world's most widely recognized English language tests. IELTS Academic is required by many business schools and universities as proof of English proficiency for MBA and Master's programs. The test assesses four language skills: Listening (30 minutes), Reading (60 minutes), Writing (60 minutes) and Speaking (11-14 minute personal interview). Scoring is on a scale of 1-9, with most MBA programs requiring a score of 6.5-7.5. IELTS is particularly common in the UK, Australia, Canada and Europe, and is accepted by many institutions as equivalent to TOEFL.
Example: "An IELTS score of 6.5 is sufficient for admission."
Lateral Entry / Career Switch
Lateral entry (or career switch) is the move into an industry or role for which neither prior education nor previous work experience provides classic qualifications. Without prior industry experience the switch is difficult, because companies typically favor candidates with a track record. An MBA is one of the most established routes for lateral entry: it signals management competence, willingness to learn and resilience. Combined with targeted electives, an industry-relevant capstone project and – in 2-year programs – a summer internship, lateral entry into consulting, tech, finance, healthcare management or corporate development becomes realistic.
Example: "The MBA eased his lateral move from medicine into hospital management."
Liquid Learning
Liquid learning describes highly flexible, AI-driven learning paths that combine asynchronous theory modules (self-paced, personalized) with synchronous on-campus bootcamps, leadership simulations and networking events. In 2026, leading business schools use liquid learning to fuse full-time, part-time and online formats into a single, individually configurable MBA experience.
Example: "In the liquid learning model she freely combines modules over several years."
M7 Business Schools
The M7 Business Schools are an informal alliance of the seven leading US business schools: Harvard Business School, Stanford Graduate School of Business, Wharton School (University of Pennsylvania), MIT Sloan School of Management, Columbia Business School, Chicago Booth School of Business, and Kellogg School of Management (Northwestern). The M7 are considered the elite of the MBA world and dominate international rankings. Graduates have excellent access to top companies in consulting, tech and finance.
Example: "To move into US consulting he specifically applied to M7 business schools."
Master Thesis
The Master's thesis is the written final thesis of a Master's program. It usually comprises 60-100 pages and is written over 3-6 months. In the Master's thesis, students independently work on a scientific question and demonstrate their research competence. It is evaluated with 15-30 ECTS.
Example: "Her Master's thesis examined the pricing strategy of a Swiss industrial company."
Master's Degree
The Master is a postgraduate academic degree obtained after a Bachelor's degree. Master's programs last 1-2 years (60-120 ECTS) and deepen subject knowledge. There is a distinction between consecutive and non-consecutive Master's programs as well as between Master of Arts (M.A.), Master of Science (M.Sc.) and specialized degrees such as the MBA.
Example: "After the Master's, both a doctorate and entering the job market are open to him."
MBA Degree
The Master of Business Administration (MBA) is an internationally recognized postgraduate degree in business administration. Unlike a subject-specific Master's, the MBA provides broad management knowledge and is aimed at experienced professionals who want to advance into leadership positions. MBA programs last 1-2 years full-time or 2-4 years part-time.
Example: "With the MBA degree he took over the leadership of his own business unit."
MBA Healthcare Management
The MBA Healthcare Management is a specialization for leaders in the healthcare sector. It combines general management knowledge with industry-specific expertise in hospital management, health policy, quality management, digital health and law. The target group includes physicians, pharmacists, nursing and hospital managers, and representatives of pharmaceutical and medical-device companies. In Austria, UMIT TIROL is a leading institution for this MBA.
Example: "As a senior physician she took an MBA in healthcare management in order to lead a clinic."
MBA Ranking
MBA rankings evaluate and compare business schools and MBA programs worldwide. The most well-known rankings come from Financial Times, The Economist, QS and Bloomberg Businessweek. Evaluation criteria include salary increase, career development, teaching quality, internationality and research. Rankings help in selecting a business school.
Example: "In the ranking she pays particular attention to salary progression and internationality."
MBA without GMAT
An MBA without GMAT is an MBA program that waives the Graduate Management Admission Test. Part-time and Executive MBA programs in the DACH region in particular admit applicants with sufficient work experience (often 5+ years), an academic degree and strong references instead of a GMAT score. The trend is growing as schools increasingly evaluate the full professional biography rather than a single test score. An MBA without GMAT is especially suitable for experienced executives who prefer not to take another admissions test.
Example: "Thanks to eight years of work experience he was admitted to an MBA without GMAT."
Merit-Based Scholarship
A merit-based scholarship is awarded based on outstanding academic performance, professional achievements, or special skills. In the MBA field, merit-based scholarships often consider GMAT/GRE scores, academic GPA, leadership experience, and professional achievements. Many business schools award their own merit scholarships to attract the best candidates.
Example: "For his GMAT score of 720 he received a merit-based scholarship of EUR 10,000."
Modules
Modules are thematic units of a degree program that combine several courses on a subject area. Each module is completed with an exam and evaluated with ECTS points. Typical modules in MBA programs are, for example, Finance, Marketing, Leadership or Strategic Management.
Example: "The semester consists of four compulsory modules and one elective module."
Need-Based Scholarship
A need-based scholarship is awarded based on the applicant's financial situation. It aims to ensure that talented candidates can pursue an MBA regardless of their financial means. Applicants typically need to demonstrate financial need through income documentation and asset declarations.
Example: "The need-based scholarship was calculated on the basis of her proof of income."
Networking
Networking refers to the systematic building and maintenance of professional contacts. In the MBA context, networking is one of the most important benefits and includes building relationships with fellow students, alumni, lecturers, and corporate representatives. A strong network provides access to job offers, business partnerships, mentoring, and industry knowledge. MBA programs promote networking through group work, alumni events, company visits, and international study trips.
Example: "At the networking dinner he met his future co-founder."
Non-Consecutive Master
A non-consecutive Master's does not directly build on the Bachelor's degree and allows a change of subject. The MBA is the most well-known example. Requirements usually include a Bachelor's degree plus several years of professional experience. Non-consecutive Master's are often part-time and more practice-oriented.
Example: "As an engineer she took a non-consecutive Master's in general management."
Online Studies
An online program takes place entirely digitally with synchronous teaching formats: lectures are transmitted live via video, seminars take place in virtual classrooms in real-time, and there are fixed class times for direct exchange with instructors and fellow students. Unlike distance learning, which primarily relies on asynchronous self-study with flexible time scheduling, online programs offer more interaction and structure through scheduled online presence sessions. Both study formats are location-independent but differ significantly in time flexibility and the degree of self-organization. Many modern programs combine both approaches in so-called blended learning.
Example: "Online study lets him watch lectures as recordings in the evening."
Opportunity Costs (MBA)
Opportunity costs are the forgone benefit of the best alternative not chosen. For an MBA these are mainly the salary lost during a full-time programme, missed promotions and pension or bonus entitlements. For a two-year full-time programme, opportunity costs can exceed tuition itself. Part-time and executive formats reduce this item considerably but cost free time and demand high resilience – a central factor in any serious ROI calculation.
Example: "A full-time MBA creates opportunity costs equal to one annual salary."
Part-Time MBA
A part-time MBA allows working professionals to earn an MBA degree while maintaining full-time employment. Classes take place in the evenings, on weekends or in block weeks. The program typically lasts 2–3 years. Part-time formats minimize lost income and allow direct application of what is learned on the job. They are the most popular MBA variant in the DACH region.
Example: "The part-time MBA takes 24 months with weekend on-campus blocks."
Part-Time Studies
A part-time program allows working professionals to obtain an academic degree while maintaining full-time employment. Classes take place in the evenings, on weekends or in block sessions. Part-time MBA and Master programs usually last 2-4 years and are specifically tailored to the needs of working professionals.
Example: "She is completing her MBA part-time while remaining in a full-time role at her company."
Peer Assessment
Peer assessment is the evaluation of a business school by representatives of other institutions – usually deans or programme directors who rate the reputation of competing schools in surveys. In several rankings this reputational component accounts for a substantial share of the total score. Critics point out that peer assessment is heavily shaped by historical name recognition, favouring established brands while systematically undervaluing young or regionally strong programmes.
Example: "In peer assessment, deans of other schools rate a programme's reputation."
Peer Learning / Study Groups
Peer Learning is a central pedagogical concept in MBA programs. Students learn from each other through structured study groups, discussions, and collaborative project work. Since MBA students bring diverse professional backgrounds (engineers, doctors, lawyers, entrepreneurs), everyone benefits from the exchange of experience. Study groups typically consist of 4-6 students with different profiles working together on case studies, presentations, and exam preparation.
Example: "The fixed study group met online every Tuesday evening."
PhD / Doctorate
The doctorate is the highest academic degree and qualifies for independent scientific research. After a Master's degree, a doctoral thesis (dissertation) is written over 3-5 years. The doctoral title (Dr. or PhD) is a prerequisite for an academic career and in some industries also for leadership positions.
Example: "After the Master's she decided on a doctorate in organisational research."
Postgraduate
Postgraduate refers to all degree programs completed after a first university degree (e.g., Bachelor's). This includes Master's, MBA, doctorate (PhD) and continuing education programs. Postgraduate programs usually require a Bachelor's degree and often also professional experience.
Example: "MBA programmes belong to the postgraduate category."
Pre-MBA
Pre-MBA programs are short preparatory courses (1-8 weeks) before the actual MBA start. Content includes basics in accounting, finance, statistics, Excel modeling, and microeconomics. The target group is students without a business background (engineers, scientists, lawyers, doctors). Benefits include closing knowledge gaps, a more relaxed start to the MBA program, and early networking with classmates. Costs range from €2,000-10,000 and are often optional. Pre-MBA courses are particularly useful for career changers without business education.
Example: "In the pre-MBA he refreshed accounting and statistics before the programme started."
Prompt Engineering
Prompt engineering is the ability to formulate, structure and iteratively refine instructions to generative AI systems so that reliable, verifiable results emerge. In an MBA context it is less about technical tricks than about problem decomposition, context management and critical evaluation of output (hallucinations, bias, sourcing). Leading MBA programs are introducing prompt engineering as a mandatory general management building block in 2026.
Example: "In the prompt engineering elective they developed templates for market analyses."
Ranking Methodology
Ranking methodology describes which criteria an MBA ranking collects and how heavily it weights them. The Financial Times, QS, The Economist and US News use different models: salary uplift, career progress, research output, internationalisation, peer assessment or recruiter surveys each carry different weight. Because weightings and data sources vary, the same business school can occupy very different positions in two rankings. Anyone using rankings should therefore read the methodology first and check whether the weighted criteria match their own goals.
Example: "A look at the ranking methodology explains why salaries account for 40 percent of the score."
Reskilling & Upskilling
Upskilling means deepening existing competencies for the same role; reskilling means retraining for a new field of work. Given the AI-driven transformation – which more than 200 economists expect to unfold over years rather than decades – both become continuous tasks. Part-time MBA formats, modular certificates and stackable degrees are the typical instruments for executives in the DACH region.
Example: "The company funded the MBA as upskilling for future division heads."
ROI (Return on Investment)
MBA ROI (Return on Investment) measures the financial return relative to investment. Costs include tuition fees (€10,000-150,000), foregone salary for full-time, living expenses, and materials. Returns include salary increase (average 50-100%), signing bonus, and accelerated career development. Typical payback periods are 3-5 years for top programs. Factors affecting ROI: Business school reputation, industry (consulting and finance pay highest), pre-MBA salary, and career goals. Non-monetary benefits like network and personal development should also be considered.
Example: "With tuition of EUR 45,000 and a salary increase of EUR 20,000, the ROI is reached after roughly two years."
Rolling Admissions
Rolling Admissions refers to an admission process where applications are reviewed on an ongoing basis rather than in fixed rounds. Applicants receive their admission decision within a few weeks of submission. Advantage: More flexible planning. Disadvantage: Places and scholarships may already be allocated for late applications.
Example: "Thanks to rolling admissions he applied in March and started that September."
Scholarships
Scholarships are financial grants for students that do not have to be repaid. They are awarded based on academic achievement, social commitment or financial need. For MBA programs, there are special scholarships from foundations, companies and the business schools themselves – including merit-based, need-based and diversity scholarships.
Example: "She financed a third of her tuition through a scholarship."
Semester
A semester is a study period of approximately 6 months. The academic year is divided into two semesters: winter semester (October-March) and summer semester (April-September). A Bachelor's program usually comprises 6 semesters, a Master's 2-4 semesters. The lecture-free time between semesters is used for exams and internships.
Example: "The programme takes three semesters including the Master's thesis."
Soft Skills
Soft Skills are interpersonal and personal competencies taught in MBA programs alongside technical content. Core competencies include: Leadership (leadership styles, team management, motivation), Communication (presentation techniques, negotiation, persuasive appearance), Teamwork (group dynamics, conflict management, intercultural collaboration), Emotional Intelligence (self-awareness, empathy, relationship management), Critical Thinking (analyzing complex situations, strategic decision-making), and Networking. These skills are developed through group work, leadership workshops, coaching sessions, and presentations. Soft skills are often more decisive for career success than technical knowledge.
Example: "The negotiation training deliberately develops soft skills."
Stackable Degrees
Stackable degrees are an MBA format in which students accumulate individual certificates – such as „Digital Transformation“, „Corporate Finance“ or „Sustainable Leadership“ – over months or years and combine them into a full MBA. The approach lowers opportunity costs, enables lifelong learning and is particularly popular with working professionals, young parents and international specialists.
Example: "The school credited two certificate courses towards the MBA as stackable degrees."
Strategy Execution
Strategy execution describes translating a strategic decision into the structures, processes, roles and metrics of day-to-day business. Research on acquisitions, divestitures and restructurings shows that most initiatives fail not because of the underlying idea but because of implementation: unclear decision rights, too little or too much unit autonomy and badly sequenced steps destroy synergies. For MBA students, execution is therefore a competence field in its own right alongside strategy development.
Example: "The strategy was clear, yet the project failed at strategy execution."
Study Counseling
Study counseling supports with all questions about studying: from choosing a program to application and admission to study planning and changing majors. Universities offer general and subject-specific study counseling. For MBA selection, specialized advisors help find the right program.
Example: "In the study advisory session he clarified whether an EMBA or an MBA suits him better."
Study Financing
Study financing encompasses all options for funding a degree program. For MBA programs, various sources are available: scholarships (merit-based, need-based, diversity), education loans (KfW, aws, cantonal banks), employer sponsorship (partial or full cost coverage), tax deductibility (as business expenses or professional development costs), installment plans at the university, and personal savings. Combining multiple financing sources is common and recommended.
Example: "Her study financing combines an employer subsidy, a scholarship and own funds."
Study Focus / Specialization
A study focus is a subject specialization within a degree program. In Master's programs, students can usually choose between different focuses, such as Marketing, Finance, HR or IT Management. The focus is deepened through electives, projects and the Master's thesis.
Example: "She chose digital transformation as her specialisation."
Substitution Effect (AI)
The substitution effect describes tasks previously performed by humans being taken over entirely by algorithms. It no longer affects only routine administrative work but increasingly cognitive knowledge work – from data analysis and reporting to parts of software development and legal research. For executives, the key question is which parts of their role are substitutable and which are not.
Example: "In reporting the substitution effect is visible: standard analyses are produced by AI."
Sur Dossier (Admission)
Sur Dossier is an admission procedure primarily used in Switzerland. It allows applicants without formal university entrance qualifications to be admitted based on an individual portfolio. Work experience, continuing education, leadership responsibility, and personal suitability are considered. This procedure opens MBA access for experienced professionals without a traditional Bachelor's degree.
Example: "Without a first degree she was admitted sur dossier."
TOEFL
The Test of English as a Foreign Language (TOEFL) is a standardized English test for non-native English speakers. Many international Master's and MBA programs require a TOEFL score as an admission requirement. The test assesses reading, listening, speaking and writing skills. A good score is 90-100 out of 120 points.
Example: "The school requires a TOEFL iBT score of at least 90."
Triple Crown
The Triple Crown is the highest distinction for business schools worldwide and refers to simultaneously holding all three leading international accreditations: AACSB (Association to Advance Collegiate Schools of Business, USA), EQUIS (European Quality Improvement System, Europe), and AMBA (Association of MBAs, UK). Less than 1% of all business schools worldwide (under 100 institutions) have achieved the Triple Crown. It guarantees the highest quality standards in teaching, research, internationality, and practical relevance. In the DACH region, Mannheim Business School among others holds the Triple Crown.
Example: "Only a few schools in the DACH region hold the Triple Crown."
VUCA / BANI
VUCA (Volatility, Uncertainty, Complexity, Ambiguity) and the newer BANI model (Brittle, Anxious, Non-linear, Incomprehensible) describe the conditions under which executives make decisions in 2026: volatile, brittle, non-linear and hard to grasp – reinforced by AI, geopolitical shifts and climate transformation. MBA programs address VUCA/BANI with courses on resilience, crisis management, scenario planning and ethical decision-making.
Example: "The lecturer described the market as BANI rather than classically VUCA."
Workload
Workload refers to the total work effort for a study program, including attendance time, self-study, exam preparation and project work. It is measured in hours or ECTS points. A full-time semester corresponds to approximately 900 working hours (30 ECTS). For part-time programs, the weekly workload is distributed over a longer period.
Example: "The workload is around 20 hours per week alongside the job."