On this page you will find the glossary with a wide range of
information on a wide variety of terms that you will encounter
especially during the preparation for your studies.
MBA means master of business administration. See
here for more
or this site for more acronyms.
MBA Glossary and Abbreviations
AACSB means "American Assembly of Collegiate Schools of Business" or
"Association to Advance Collegiate Schools of Business." Its members include the
majority of the leading US universities and many top companies. The AACSB is a
US accreditation body for MBA training programs. The accreditation by the AACSB
depends on whether you are allowed to hold an MBA earned in Germany in Germany,
whether you are granted a scholarship or whether the university is included in
one of the major US university rankings. The AACSB accredits worldwide;
accreditation by the AACSB is the internationally recognized proof of quality
for an MBA program.
The Accreditation, Certification and Quality Assurance Institute (ACQUIN) is
known as the largest of a total of six accreditation agencies, which, on behalf
of the German Foundation for the Accreditation of Study Programs, provides the
technical and content-related assessment of courses with the degrees Bachelor /
Bachelor and Master / Magister carried out nationally and internationally.
ACQUIN is a registered non-profit organization and is supported by its members,
which meanwhile include over 100 universities in Germany, Austria, Switzerland,
Hungary, the Middle East, Kazakhstan, China and the USA, as well as scientific
professional and professional associations. The head office is located in
Bayreuth, the founding president was Klaus Dieter Wolff.
The Admission Office is the admission office of a business school. Since the MBA
is a so-called graduate degree, it is the responsibility of the graduate
admissions. The undergraduate admission is available for undergraduates.
The Accreditation Agency in the field of health and social affairs (AHPGS)
distinguishes itself as an interdisciplinary and multi-professional
organization, whose main task is to offer Bachelor and Master degree programs in
the field of health and social affairs as well as in related and related fields
of activity (program accreditation) and the internal control and accreditation
of quality assurance systems (system accreditation) at universities, technical
colleges, universities of teacher education and art and music colleges.
The AHPGS works as a registered non-profit association, which is supported by
the departmental days or dean conferences of curative education, nursing, health
and social work, representatives of the scientific societies as well as relevant
professional, specialist and supporting associations from the relevant fields of
activity and by private individuals .
The declared aim of the AHPGS is to support quality assurance, academization
and professionalization of the health and social professions in Germany.
The Bonn public law foundation for the accreditation of study programs in
Germany is legally responsible for organizing the system of quality assurance in
study and teaching through the accreditation of study programs. For this
purpose, rules for the accreditation of degree programs and for system
accreditation are adopted, for example. AKAST also carries out the approval of
accreditation agencies. The foundation is also known as the Accreditation
The accreditation should guarantee the highest possible standard of MBA
training. It is a seal of approval for business schools. Either a master's
program or the business school or university is accredited as an institution.
Since a study program can hardly be successfully established without
accreditation, business schools strive for extensive accreditation. The growing
number of accreditation agencies required the formation of the Accreditation
Council, which accredits agencies, which in turn are allowed to accredit the new
Bachelor and Master courses. Seven agencies are now allowed to accredit Bachelor
and Master courses. This means that not all accreditation agencies are
recognized. In German-speaking countries, the FIBAA in particular is reviewing
the new Bachelor and MBA programs. Accreditation is not a one-off process, but
is repeated every four to ten years, depending on the agency. The aim is not
only to maintain the level of training over a long period of time, but also to
continuously improve it. Quality characteristics checked in the course of the
accreditation process include a management-oriented, technical focus, certain
minimum content, the variety of the curriculum, the quality of the teaching
staff and the practical relevance as well as the internationality of the
training. but are also constantly being improved. Quality characteristics
checked in the course of the accreditation process include a
management-oriented, technical focus, certain minimum content, the variety of
the curriculum, the quality of the teaching staff and the practical relevance as
well as the internationality of the training. but are also constantly being
improved. Quality characteristics checked in the course of the accreditation
process include a management-oriented, technical focus, certain minimum content,
the variety of the curriculum, the quality of the teaching staff and the
practical relevance as well as the internationality of the training.
Alumni are former participants of a course of study at a university or business
school. Alumni organizations are important for interested parties as well as
applicants and graduates. For the last, of course, when looking for a job. This
is all the more important since alumni often work in top companies. For those
interested, they are a very good source of information about the programs of the
envisaged business school. Among other things, alumni conduct interviews with
new applicants, act as a link between the applicant and the business school, and
save the applicant from having to travel to the planned training location.
Alumni connect you with other alumni - and this network is indispensable even
for the best students.
The AMBA is the UK's most prestigious accreditation body. It primarily accredits
UK MBA programs. Students and graduates of British MBA programs and selected
foreign MBA programs are eligible as members. Anyone booking a British MBA
program should make sure that it has been accredited by the AACSB, by the EFMD
(according to EQUIS) or by the AMBA.
ASII, founded in 1999 as an independent non-profit association, merged in 2002
with the accreditation agency for courses in chemistry, biochemistry and
chemical engineering at universities and technical colleges, which gave rise to
today's ASIIN. The Düsseldorf-based ASIIN eV (accreditation agency for courses
in engineering, computer science, natural sciences and mathematics eV) is
committed nationally and internationally to the recognition, comparability and
quality testing (accreditation) of bachelor's and master's programs. ASIIN eV is
one of ten accreditation agencies examined by the Accreditation Council.
The Bachelor comes from the Anglo-American study system, in which the first
stage (the undergraduate course) is completed after 4 years with the Bachelor.
The following qualifications must be used in Germany:
- Bachelor of Arts (BA)
- Bachelor of Science (B.Sc.)
- Bachelor of Engineering (B.Eng.)
- Bachelor of Laws (LL.B.)
In Austria, the bachelor's degree is called a bachelor's degree; the graduate
is the bachelor or bachelor. The final titles are more differentiated. The
bachelor is the lowest academic degree, but it is the first professional
qualification. A completed bachelor's degree also qualifies for a master's
degree. With regard to the possibilities of completing an apprenticeship as a
bachelor, the recognition and the continuation of the studies after the
bachelor's degree are complicated, but have changed in favor of the bachelor's
degree. In Bavaria, for example, particularly qualified graduates of a
bachelor's degree can be admitted to a doctorate as part of an aptitude
The application for an MBA course is not as compact as admission to a university
based on grades. Rather, a “mix” of various factors is crucial. This includes
the GMAT, essays, references, resume, transcripts, TOEFL, bank statement,
interview, approval and visa.
If a certain minimum number of points is not achieved within the scope of the
GMAT, the application usually failed prematurely. If the GMAT score is
sufficient, the essays and recommendations are screened. Summary and transcripts
are not weighted as much. The TOEFL also only slightly enhances an application.
Interviews are handled differently depending on the training institution;
however, the trend is towards the cockpit interview.
As already introduced in many companies, the forms of teaching and learning in
the further education offers are also changing to so-called distance learning.
The new media also make it possible to convey complex learning materials in
faster processes with increased flexibility. The student no longer has to go to
the “place” of knowledge, but can have the available knowledge delivered
specifically to his or her personal situation. The saving in time resource is
significant and the knowledge thereby experiences an even higher use intensity,
since the knowledge transfer is noticeably accelerated and adjusted depending on
the situation. However, it should be noted that the people involved also have
the technical access at the required times. Since tests and entire project work
are also dealt with in distance learning,
The ECTS, European Credit Transfer (and Accumulation) system, is intended to
make student performance comparable so that it can be credited and accumulated
when changing from one university to another. Students who have successfully
completed a module receive a defined number of credit points. This type of
assessment of performance is typical for Bachelor and Master courses.
The credit points (LP) should represent the average workload of the course
(the “Work Load”). The basis for awarding the credit points is the assumption of
an average amount of work to be done for the degree, measured in hours. The
effort of 1500 - 1800 hours per academic year is expressed in 60 CP. One credit
point corresponds to 25 to 30 working hours. With the ECTS system, the average
learning, preparation and post-processing of an event can be taken into account
over the semester hours per week. In the case of modules with increased
workload, this is not evident due to the presence at the university (semester
hours per week); however, by the number of credits acquired, where the credits
for the entire module represent the sum of the effort for the individual module
This British company was founded in 1996 as an organization that deals with the
qualification of academic and professional training in the fields of
mathematics, science, languages and history. From an international
perspective, EDEXCEL is the largest examination board in private hands. Upon
completion of an EDEXCEL exam, you will receive a corresponding internationally
recognized certificate as proof of successful completion.
The term EDUQUA is a Swiss certification procedure for training institutions. It
has existed since 2000 and ensures the quality of further training offers. An
institution that has this certificate can list it on the market as a quality
certificate. In the sense of a quality label, it offers consumers a guarantee
for the overall quality of an educational institute. In many Swiss cantons, this
certificate is a prerequisite for public funds to be awarded. The Swiss
Conference of Cantonal Ministers of Education (EDK) therefore recommends that
its members pay attention to this certificate when awarding contributions to
private education providers.
The European Foundation for Management Development (EFMD) was founded in
Brussels in 1972 and is an international organization in the legal form of an
association that deals with the accreditation of business schools and various
management training programs. The EFMD has around 44 members in Germany, which
mainly include DAX companies, public and private universities, business schools
and technical universities. The organization also deals with the exchange of
best practice and benchmarking in the areas of management training and further
EQUIS is the abbreviation for "European Quality Improvement System". Therefore,
it is a system for accreditation of business schools, which was introduced in
1997 by the European Foundation for Management Development (EFMD) in Brussels.
The initiative, supported by the Commission of the European Union, was
implemented in close cooperation with the already existing national, European
accreditation institutions. The aim of this initiative, similar to that in the
USA, is to introduce a uniform European quality standard for business schools
from the local accreditation body AACSB, which meets international requirements.
EPAS is an international system for program accreditation. It evaluates the
quality of economic and management programs with an international focus and
accredits them accordingly. Each program is reviewed in detail and compared with
other international programs. EPAS is based on the same process steps as EQUIS.
Essays are an important part of the application for an MBA program, because the
universities want to use these short essays to get an overall impression of the
candidate in terms of writing ability, academic skills, personality and
suitability for a job in management. Essays should convince above all. The
following should be noted when preparing the essays:
- Obtain instructions for writing essays.
- Formulate interesting, not too short and yet exhaustive.
- Make several drafts and present them to a “native speaker” for assessment.
- Read the texts again after a certain time interval - you will be amazed at how
many changes and improvements you can think of!
Get the help of a professional application editing service. He is able to create
an overall application that sets you apart from your competitors.
Evalag (Evaluation Agency Baden-Württemberg), founded in 2000, is a foundation
under public law and was created on the basis of agreements between the Ministry
of Science, Research and Art of Baden-Württemberg and the state's universities.
Evalag is committed to non-profit purposes and, as a competence center for
quality assurance and quality development, supports German and international
universities, other scientific institutions and ministries in their commitment
to quality in teaching, research and services. Evalag takes care of the
coordination and support of evaluation procedures, conducts institutional
quality assurance audits, advises in the area of quality management and also
organizes assessment procedures within the framework of science funding.
The offer of business schools to complete an Executive MBA is aimed at managers
with several years of professional experience. The Executive MBA is typically
acquired on the path of non-consecutive, part-time postgraduate studies, the MBA
part-time program, however, on weekends or in block tuition, which extends over
at least one week. An Executive MBA program therefore takes two years or more.
An Executive MBA also needs to be well planned: You practice your job on the
side, so you have to work extra. When you are away from work, you have to
appoint reliable deputies and accept loss of income. In any case, one should
insure the support from the employer - at least organizationally. Financial
support can be added. It is very likely that the company will be more committed
to the company after obtaining the MBA than before.
The FIBAA (Foundation for International Business Administration Accreditation)
is an accreditation agency that carries out the technical and content-related
assessment of courses on behalf of the Accreditation Council. It is a
tri-national foundation. The foundation's headquarters are in Zurich, the main
office is in Bonn. The main field of work of the FIBAA is the assessment of
economics-oriented courses. It is recognized by the German and the Dutch
FIBAA is an international quality and accreditation agency, but it is
primarily active in Europe. It supports universities in the further development
of their Bachelor, Master and PhD courses. The goals are on the one hand the
quality improvement of the study programs and on the other hand of course the
accreditation of the course. FIBAA provides advice on quality management,
assesses the degree program and checks the requirements for the awarding of the
FIBAA quality seal. The advantage of FIBAA's work, like that of accreditation
agencies in general, lies in the better comparability of training offers:
Economics-based courses, their providers, students, companies and other
accreditation agencies experience transparency.
The GMAT is a four-hour, standardized test in English designed by the Education
Testing Service (ETS) and offered worldwide on behalf of the Graduate Management
Admission Council (GMAC). It determines the logical and verbal skills of the
participants who have to take the test under time pressure. From the test
result, the comprehension in view of complex facts, the analytical thinking
ability and problem-solving competence can be seen. From this, the efficiency of
the working method and subsequently the chances of success can be read in an MBA
At renowned business schools, the GMAT is mandatory and the decisive size is
the number of points. Although formally only one of many selection criteria, the
GMAT is of great importance as part of the application documents. An excellent
GMAT result can open the door to a business school, a bad one can destroy all
opportunities. This means that preparation for the GMAT is highly recommended.
It can mean the difference between "average" and "shortlist".
A recommended GMAT course should be able to convey the required mathematical
and linguistic knowledge, the most efficient solution strategies and the
shortest possible solutions. The course itself ensures better understanding and
easier memorization of learning content. An additional advantage is the
interactivity of the courses, which sharpens the sense for efficient solutions
and the time budget. You can also see which area you are behind and where you
have a head start. It should not be forgotten that you can compare your own
performance with the performance of other participants.
The International English Language Testing System (IELTS) is a special language
test that determines individual skills in the English language. The test is
mainly taken by students who plan to study at a university in an
English-speaking country or at a German university. Most universities in
Australia, the UK, Ireland, Canada, and New Zealand, as well as more than 3,000
facilities in the United States, accept this test as an admission requirement.
In Germany, too, more and more universities and technical colleges are demanding
the IELTS for their degree programs if they contain international components.
Anyone working in the medical field must take the IELTS test in any case in
order to obtain a work permit in the countries mentioned above.
MBA Degree / MBA Degree
A degree, which in the figurative sense means the degree, certifies the graduate
that he has successfully completed the Master of Business Administration. This
degree is awarded by the respective school or university. A master's or MBA is
recognized nationally or internationally. This distinction must be taken into
account when choosing a course. The recognition range is particularly important
for employers who may contribute to the costs of the training.
In its long form, OAQ means "organ for accreditation and quality assurance of
Swiss universities". In cooperation with the Swiss University Conference, the
OAQ carries out the accreditation of public or private university institutions
and courses in Switzerland. The OAQ works independently and uses internationally
recognized methods. It also draws on the knowledge and experience of renowned
MBA programs are demanding. Be it during the lectures and the associated group
work, as well as during the so-called e-learning processes. However, if the
personal situation does not allow the required amount of time for the presence
units, the possibility of an online MBA is a real alternative. In these
programs, the possibilities of the new technologies are used for a learning
process that allows the participant to achieve a certain flexibility in terms of
With e-lectures on scripts with video lectures and online tests, the
necessary knowledge is not only conveyed to the participants, but also queried
in order to achieve a corresponding knowledge transfer. The skepticism about
programs completed in the past is slowly diminishing as the quality achieved
steadily increases and the online MBAs experience a new image. The price for
this form of study is the falling social component. Participants in such
programs rarely see each other, if at all personally. However, the social
environment is an important factor for many people and so this point should be
included in the decision for a program.
A postgraduate study program is one that requires a first academic degree - a
so-called undergraduate degree (e.g. Bachelor). The admission requirements are
not standardized, which means that a completed pre-diploma or an intermediate
examination is sufficient for admission at one university, but a university
degree is required for admission to the graduate program at another. One should
therefore always be well informed about the specific academic and other training
required at the respective university or business school.
A ranking is the result of sorting several comparable objects, combined with a
comparative evaluation. Rankings enable the evaluation and selection according
to certain criteria. Business magazines and newspapers in particular regularly
publish business school rankings, including reputation and accreditation. A good
place in the ranking is definitely a significant advertising factor for the
business schools, which also cost a little.
Rankings are a multi-page thing and not without controversy. With a ranking
you can be renowned; if the business school has dropped in the ranking, you can
explain this with unfair criteria. Of course, you can always argue about the
criteria of the rankings. In particular, top business schools with a high
reputation and accredited programs can be found at the top of all rankings,
which is certainly justified.
The graduates of these business schools are also among the top earners in
management. Since rankings have a certain - but also a limited - meaningfulness,
they should not be used as the sole or priority selection criterion for choosing
a business school. Because the ranking is not necessarily reflected in the
experiences of the graduates.
Many universities require two to three references, also called Letters of
Recommendation, written by university professors or former employers. These
should highlight the strengths of the applicant, praise his way of working and
make positive forecasts for the work in the MBA program. Since the references
form an essential part of the application, they should be kept a little longer
and more detailed. As they must also be perfect in terms of language and
content, the exhibitors must be carefully selected.
They should include:
- The applicant's previous professional experience and development
- Advantages compared to others in the same field of activity
- Special strengths of the applicant
- Previous research experience and future research ability
As with the essays, you should not be afraid to use the help of a
professional editing service.
The summary is a table listing the previous professional and academic career.
Since only one page of A4 or US letter is intended for the resume, a few main
points, under which the essential stages of training and career are described in
short, concise sentences, must suffice. These sentences are mostly without
subject in English, such as "Developed new advertising strategies for web-based
businesses". As the summary is used for the pre-selection of applicants, it
should be written by a person with native English or by a professional editing
A scholarship is a financial support for students or young scientists (the
scholarship holders), which usually consists of monthly payments and is used to
replace the tuition fees or living expenses up to a certain maximum amount.
The three permanent test centers for the GMAT and the TOEFL in Germany are
located in Berlin, Frankfurt am Main and Munich. Registration is only possible
through Sylvan in the Netherlands. If you live close to the border, you should
consider taking the test in a foreign test center. The tests can be taken every
working day from September to November. In the other months, tests are not
offered in the first week, but every second Saturday.
Registration for the GMAT can be made by phone, fax or post at Sylvan
Learning Systems BV in the Netherlands. By the way, you can save the old test
format on paper and possibly in the non-permanent test centers. Local
organizations offer the TOEFL (not the GMAT) in Düsseldorf, Hamburg and Freiburg
as a paper test. (Information about places and times without guarantee).
The TOEFL is a standardized test that all applicants whose mother tongue is not
English or who do not have a degree from an English university must take. The
test is designed in multiple choice format. The TOEFL is stored on the computer,
in the same test centers as the GMAT. Registration for German test centers in
the Netherlands also takes place. Falling through is not possible; the minimum
number of points required by the respective business school must be achieved. 0
to 300 points are possible. If you achieve the required number of points, the
TOEFL is of little importance for the further application process. The test can
be repeated until you have achieved the required number of points. Since this
involves time and money, at least a short-term preparation is recommended. You
can concentrate on the rules that are the subject of the TOEFL.
An undergraduate course of study is completed at a university, takes two to four
years and ends with a bachelor's degree (roughly corresponds to the previous
cand.phil. In classical studies or the baccalaureate in the new study
The Central Evaluation and Accreditation Agency (ZEvA) was founded in 1995 by
several universities in Lower Saxony and is now financed by the Lower Saxony
state government. Since 1998 it has had its own accreditation department, which
acts across disciplines, universities and countries. In 2000, ZEvA was certified
by the German Foundation for the Accreditation of Study Programs, making it the
first accreditation agency in Germany. It not only provides accreditations, but
also has an advisory role, for example with regard to international programs.
ZEvA is a member of various international accreditation associations and, due to
its early foundation, in many cases even a founding member of these