To be a successful leader, you can’t just react. The best leaders plan, analyze, reflect, question, investigate, discuss, and challenge—and then they do it again, all with the goal of setting the best vision and strategy for their business.
How do you learn to think strategically? An MBA in strategy online provides the theoretical knowledge and tactical skills to turn visions into realities. These programs teach students how to implement a strategy from start to finish, from setting goals to planning, implementing, and monitoring the strategy to determine if it’s working. Find out how a flexible online MBA in business strategy can build your skills, what you’ll learn, and how to balance your studies with your work and personal commitments.
B-School Spotlights: 2023’s Best Online MBA Strategy Programs
Look no further if you’re searching for the best options to pursue an MBA in strategy online. We’ve gathered comprehensive information on three outstanding programs, offering insights into their courses, credits requirements, application criteria, and affordability. But that’s not all. Visit later in 2023 for a full evaluation of dozens of best-in-class programs.
Liberty University
Liberty University offers a two-year MBA in strategic management program that requires students to complete 45 credit hours of courses provided in eight-week sessions. This program, accredited by the Accreditation Council for Business Schools and Programs, can be completed entirely online. This program covers ethical leadership, executive leadership and management, international business, legal issues in business, and workforce planning and employment. To complete this program successfully, you must maintain a 3.0 GPA at the minimum.
To be admitted to Liberty University, students need a bachelor’s degree from a regionally or nationally accredited college or university and a 3.0 GPA. Students should submit their college transcripts and proof of English proficiency with their applications.
Villanova University
Accredited by the Association to Advance Collegiate Schools of Business, Villanova University offers an MBA with a strategic management specialization that takes two years to complete. The program consists of online videos, interactive case studies, and discussion boards. Applicants must submit a résumé, two essays, GMAT or GRE scores, two academic or professional letters of recommendation, and official transcripts from the institution where they earned their bachelor’s degree. Students may be admitted into the program during the fall, spring, or summer semesters.
Once they enroll in the program, students will take courses that address team leadership, strategic marketing management, corporate finance, and contemporary business issues. Students also may also participate in capstone courses to demonstrate their knowledge of the curriculum.
The University of North Carolina at Chapel Hill
The University of North Carolina at Chapel Hill offers an online MBA with a specialization in strategy and consulting. This convenient online degree provides the necessary specialized learning and leadership skills that will prepare students to be successful in their future consulting careers. Courses include strategic management and leadership, problem-solving experience, team collaboration, effective communication, and fact-based analysis. Students may also take courses in business strategy, consulting frameworks, corporate strategy, supply chain management, and business communication. In addition, they’ll have the opportunity to apply the concepts they learned in a real-world setting through experiential learning opportunities.
To apply to UNC, submit an official transcript from your undergraduate program, a résumé, two letters of recommendation, two essays, and GMAT or GRE scores. In some cases, applicants may be asked to participate in an interview.
What to Expect from an Online MBA in Strategy Program
The best online MBA strategy programs are made up of a combination of core and concentration classes that give you a well-rounded knowledge of the advanced business concepts you’ll use in high-level positions or in your own businesses. Core classes include managerial accounting, finance, organizational leadership, and human resource management. When you move on to classes in your strategy concentration, you’ll study project management, organizational communication, and ethical leadership. In addition, you may have opportunities for experiential learning opportunities. You may also be required to take a capstone course to complete your MBA in strategy online.
Depending on the school you choose for an MBA in strategy online, your classes will typically last six to eight weeks. Some programs use asynchronous learning, meaning you can watch lecture videos at your convenience, while others require you to participate in live lectures conducted during evenings and weekends. Most courses have discussion boards where you share ideas with your peers and professors and collaborate on projects such as case studies. You may also discover networking opportunities, which will help you build professional relationships that can last long after you graduate with your online MBA in business strategy.
Common Courses
Ethical Leadership
Leaders are always presented with daily challenges that require tough and critical decision-making skills regardless of the organization or the career. This course teaches students how to handle these challenges in an ethical way by presenting a variety of business scenarios and solutions-based on ethical principles.
Organizational Effectiveness
This course examines the qualities of an effective organization and how a leader can ensure the company’s best possible efficiency and productivity. Students look at how work processes, policies and procedures, organizational structures, and how employees contribute to or take away from an organization’s effectiveness.
Corporate Restructuring
Students in this class learn about how corporations are restructured during mergers and acquisitions. Specific topics may include the reasons a company’s leadership may decide to merge with or acquire another company, what is involved in friendly and unfriendly takeovers, strategies for evaluating a company, and performing cost-benefit analyses on potential mergers and acquisitions.
Managing People and Teams
The biggest asset that an organization has is its people, so it’s imperative that those in managerial positions are effective in overseeing their employees and the teams these employees are a part of. To help students develop these skills, they may be required to read case studies of successful managers and participate in simulated exercises.
Leadership Theory
There are several paths that leaders can take to become successful, and this course looks at the theories that guide successful managers. Students become familiar with the research on leadership and learn theories that are regularly applied by successful leaders.
What You Can Do with an MBA in Strategy
The skills that students gain in an MBA in strategy program can be used in numerous business settings. Students may start their own businesses, become corporate executives, or pursue careers in management in areas including recruitment, marketing, and training. Thanks to the best online MBA strategy programs, students graduate with skills such as written and verbal communication, analytical thinking, problem-solving, and decision-making. Continue reading this guide to find out about available career choices for people with an MBA in strategy online may hold and the earning potential for these positions.
Marketing Managers
Marketing managers use their leadership skills to plan and oversee the marketing programs and policies their organizations use to sell products and services and raise awareness about the company’s brand. This work includes identifying target markets, creating a pricing strategy that maximizes profit, conducting market research to determine what similar products are being sold, evaluating the effectiveness of a marketing campaign, and changing strategies as necessary.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
$44,000 | $66,000 | $100,000 |
Source: PayScale, 2021
Business Strategy Managers
Business strategy managers are charged with helping organizations reach their goals. To do this, they delegate work to their employees, oversee the activities of these employees to ensure the work gets done, and provide feedback and instruction as necessary. In addition, these professionals are involved in the process of recruiting, hiring, and training.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
$64,000 | $90,000 | $141,000 |
Source: PayScale, 2019
Business Intelligence Analysts
Business intelligence analysts support the goals of their organization by using their data analysis expertise. To do this, they compile and analyze data based on a company’s business and financial records for review by stakeholders, such as the organization’s leadership and clients. In addition, these professionals are oversee the databases that store the information.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
$51,000 | $69,000 | $96,000 |
Source: PayScale, 2019
Training and Development Managers
Organizations rely on training and development managers to nurture their most important asset—their workers. This position entails planning and coordinating the training programs that an organization uses to develop the skills of its talent. Specific job duties include performing assessments to determine what training employees need to enhance their skills, developing training programs to provide these skills, and providing direction to help instructors effectively teach training courses.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
$64,720 | $113,350 | $196,070 |
Source: Bureau of Labor Statistics, 2019
Business Consultants
When businesses want guidance on how to improve their operations and become more effective and efficient, they enlist the help of a business consultant. Consultants use their business acumen to help organizations identify their problems, create plans to address these problems, and monitor how well the plans are doing after implementation. In addition, these professionals help their clients develop strategies to bring in new business and to hire and train employees.
| 10th Percentile | Median Annual Pay | 90th Percentile |
|---|---|---|
$50,000 | $75,000 | $114,000 |
Source: PayScale.com, 2021
Costs and Financial Aid for Your Online MBA in Strategy
Understanding the learning outcomes and degree requirements of your preferred schools is critical, but it’s also important to have a clear idea of how much it will cost to pursue a degree from them. Earning an online MBA in strategy requires a significant financial commitment. To provide you with an estimate of program expenses, we’ve compiled a list of schools and their costs below.
Also, our financial aid page offers concrete, real-world examples of and insights into the financial aid options you may qualify for, including loans, grants, scholarships, and assistantships. Aside from loans, most financial aid awards do not need to be paid back, which means the price you pay to earn your degree may be much less than the published cost of your program. We aim to help you identify the most suitable options for your situation and pay the lowest price possible for your degree.
How Much Your Online MBA in Strategy Might Cost
| School Name | No. of Credits | Cost/Credit | Est. Total Tuition Cost |
|---|---|---|---|
33 | $485/Credit | $16,005 | |
36 | $710/Credit | $25,560 | |
45 | $565/Credit | $25,425 |
Frequently Asked Questions About Earning Your MBA in Strategy Online
What are the typical admissions requirements for an online MBA in strategy?
An online MBA in business strategy can be rigorous, so schools that offer these degrees have high standards for the students they admit. As you’re looking at schools, you’ll see that they have different expectations. In general, these are the admissions requirements you may find:
- Bachelor’s degree from an accredited university or college
- Minimum 3.0 grade point average
- Prerequisite business courses in areas such as finance and accounting with at least a B grade
- Work experience
- GMAT or GRE scores
Are there quality online strategy MBA programs that don’t require the GMAT?
Although MBA programs have been known for including GMAT scores as part of their evaluation criteria, more schools are relying less on this standardized test when evaluating prospective students. Instead, many schools that offer quality MBA programs look at more practical markers for student success, such as the student’s experience in management, research they’ve been involved in, and performance in their undergraduate programs. Don’t assume that you must take the GMAT to be admitted into a quality program; check the admissions requirements for schools you’re interested in.
How long will it take to finish my MBA in strategy online?
An online MBA in strategy can take two years for a full-time student to finish. If you enroll on a part-time basis, your degree will take three to four years.
Can I earn my MBA in strategy 100% online or do I need to go to campus?
Whether you can complete your MBA in strategy 100% online depends on the program you choose. Some programs are hybrids, which means they do require that you take some of your coursework on campus and the rest of it online. In other cases, you may be able to complete all your coursework online. In addition, some schools may require you to participate in a capstone course on campus after you have finished most of your online classwork.
What’s the difference between an MBA in strategy and a master’s in strategy?
Although both degrees are designed to give students an advanced understanding of business strategy, an MBA in strategy is geared toward people who want functional business skills that will help them move up in their careers. As a result, these degrees cover a wide array of business areas, such as marketing, operations management, finance, and human resources. Those who earn a master’s degree in strategy are generally already in managerial positions and want to build on their business experience by adding the strategy skills they need to be effective. These degrees have a curriculum that focuses solely on management, so students take classes in organizational learning, human behavior, organizational change, and management theory and practices.