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Coming in at #40 on Chief Executive’s 2019 list of Best and Worst States for Business, #50 on the Forbes 2018 list of Best States for Business, and #33 on U.S. News and World Report’s Best States for Business Environment, Alaska is not looked upon as one of the best states in which to do business.
Despite a low tax burden, Alaska struggles with recession, a shrinking economy because of drop in oil prices, a shrinking workforce because of net migration out of the state, almost no venture capital inflow, a cost of business that 14.4 percent higher than the national average, and the worst unemployment outlook in the nation. Despite these struggles, Alaska does have the advantage of being the third-busiest cargo hub in the world.
The oil and gas industry is responsible for 80 to 90 percent of the state’s revenues, with other key industries in the state including aerospace, commercial fishing, drones, tourism, and air transportation. There are no Fortune 500 companies headquartered in Alaska, but major business influences in the state include Alaska Communications Systems, Carrs/Safeway, Meyer’s, Walmart, Providence Health & Services, General Communication, and ASRC Energy Services.
In response to the struggles present in the state, the Division of Economic Development (DED) is employing strategies like reducing energy costs for business, increasing resources and tools available to rural businesses, and developing the workforce in alignment with economic development strategies.
For business professionals who like a strong challenge, choosing to earn an online MBA from a university in Alaska can be a first step in connecting to the unique environment and business networks in the state. Busy professionals who can’t relocate for work, professionals with too much responsibility to stop working, or those who are looking to facilitate a career shift may find that choosing the “when” and “where” of their learning makes an online MBA program the perfect choice to mediate career growth. Because online MBA programs are taught by qualified, experienced professors who also teach on-campus courses, the quality of education is equal to programs that require in-person participation.
Please keep reading to learn more about online MBA programs in Alaska, the distinguished professors who fuel the learning, and the option to add in-person experiences to online flexibility.
Featured Online MBA Programs in Alaska
The online MBA program offered by the School of Management at the University of Alaska Fairbanks develops in students the skills and knowledge required for organizational leadership. Prospective students can choose between a general MBA or a STEM MBA.
Coursework in the 30-credit programs includes organizational theory for managers, marketing management, quantitative methods for managers, and financial markets and strategy. The STEM MBA is for students with a STEM bachelor’s degree and allows students to complete their elective credits in the STEM field of their choice (fisheries, ocean science, engineering, mathematics, statistics, biology, etc.). Because the coursework for the STEM MBA is completed outside of the School of Management, it is possible that courses will need to be completed on campus.
The electives offered for the general MBA are 100 percent online. Applicants with AACSB-accredited undergraduate business degrees and a GPA higher than 3.25 are not required to submit GMAT scores. All other applicants with GPAs higher than 2.75 must pass the Watson Glaser Critical Thinking Exam with a minimum score of 25. Applicants with GPAs lower than 2.75 must submit GRE or GMAT scores. Applicants with graduate degrees may qualify for an entrance exam waiver.
Students without a business background may need to complete up to seven prerequisite online modules ($100 each) in statistics, accounting, economics, management, marketing, and corporate finance.
| Location: Fairbanks, Alaska |
| Accreditation: Association to Advance Collegiate Schools of Business (AACSB) |
| Expected Time To Completion: Two to three years |
| Estimated Tuition: $513 per credit-hour |
Hybrid MBA Programs in Alaska
For some prospective MBA students, the opportunity to build strong build business networks is just as important as the knowledge and skills that one earns from successful completion of the curriculum. For busy professionals who are looking to add in-person interaction to their online MBA and live close to a university campus, a hybrid program may be the right choice.
Universities offer hybrid programming either through the option to opt-in to some MBA courses on campus, or by offering short-term on-campus intensives, residencies, orientations, or capstones. Due to the hands-on nature of the discipline, STEM coursework may not be available online. The STEM MBA offered through the University of Alaska Fairbanks gives students the opportunity to study on campus and have a hybrid learning experience. This does not seem to be an option for the general MBA track, as there is no on-campus MBA counterpart to the online program.
