This post originally appeared on the U.S. News–Strictly Business MBA Admissions blog.

With the first round of business school application deadlines looming in the fall, many prospective applicants are seriously considering whether this is the year to apply for an M.B.A.

Business schools have become increasingly innovative in their approaches to management education, from bespoke curriculums to delivery options that run the gamut, including traditional two-year programs, one-year accelerated M.B.A.’s, part-time M.B.A.’s, executive M.B.A.’s, online programs, and global M.B.A.’s. There are some terrific options out there for all types of interests and schedules, so if you’re having doubts about whether an M.B.A. is feasible, don’t rule it out. Do some research first.

A one-year M.B.A. may be right for you if:

Long the norm in Europe, accelerated M.B.A. programs have grown in popularity stateside over the past five years. This format is best suited for those who want to continue working in the same industry but would like to deepen their knowledge and skills in specific areas in order to move into a higher position. Recruiters show no real preference for the two-year over the one-year program, so the decision often boils down to whether candidates are career accelerators or career changers.

Since the degree is time consuming and requires intense focus, applicants must come onto the scene with a strong background in business fundamentals, and many programs show a definite preference for those with an undergraduate business degree.

This format is both a time and money saver, and often provides a faster return on investment than other program types. Participants endure only one year of lost income, and while the accelerated M.B.A. option doesn’t allow for internships, students are back in the workforce after 12 months.

An executive M.B.A. may be right for you if:

This iteration of the M.B.A. is tailored specifically for mid-career professionals, who want to continue working while pursuing their degree. Executive M.B.A. students also immediately apply the lessons of the classroom in the boardroom. They may be looking to switch industries, or to transition from manager to entrepreneur. A demanding family life may also make it impossible to take advantage of the extracurricular activities available to traditional full-time M.B.A. students, which may make an E.M.B.A. more desirable.

Students in an E.M.B.A. program must have the support of their employers, as the degree requires some time out of the office in the form of weeklong residencies or classes held on alternate Fridays. Historically, companies have sponsored 100 percent of their employees’ studies, though these days, a mere 30 percent of students receive full tuition reimbursement.

Many schools won’t state an actual number of required years of work experience; however, the expectation hovers around 10 years, and participants are typically in their late 30s. E.M.B.A. applicants must show prior management responsibility and a record of significant achievements, as this wealth of professional experience is what ultimately enriches the learning environment in the classroom.

An online M.B.A. may be right for you if:

For M.B.A. aspirants who are either unwilling or unable to leave their job and family to pursue a full time, two-year degree, a program that can taken from the comfort of one’s own home could be the ideal solution. The online M.B.A. path is even more appealing given the lower cost of most online degrees.

The caliber of online options has improved dramatically, with offerings coming from such highly ranked schools as Indiana University—Bloomington’s Kelley School of Business, Spain’s IE Business School, Babson College’s Olin Graduate School of Business, and University of North Carolina’s Kenan-Flagler Business School, which got into the fray in summer 2011 with the launch of MBA@UNC and is no less expensive, or selective, than its traditional counterpart.

This format requires a high degree of self motivation and excellent time management, and, like the accelerated M.B.A., is best suited for candidates who are intent on sticking to the same career path or moving ahead within their current company.

In today’s global business environment, much of the day-to-day interaction takes place remotely, via E-mail, text, or video conference. An online M.B.A. format maximizes these technologies and perhaps even better prepares tomorrow’s business leaders for navigating within the dominant communication methods.

The classic M.B.A. experience is still the gold standard for many applicants, however. Paul Danos, dean of Tuck School of Business at Dartmouth College, noted recently that the full-immersion experience is invaluable for the networking opportunities and alumni connections it provides. It also provides a precious time for young men and women “to reflect on and reconsider their career paths,” Danos adds.

In reality, every candidate has his or her own unique needs that must be aligned with the format that makes the most sense. Whichever program you choose in your M.B.A. journey, a great fit with your goals and lifestyle will ensure the best results from application to graduation.

It’s the debate that never dies: Is pursuing an MBA degree is a waste of time if you plan to start your own business? As someone who has started more than one successful enterprise, I say no, and can personally attest to having leveraged a lot of my MBA classes and resources into my business ventures.

In “The Rise of the MBA Entrepreneur,” published last week by Reuters,  several top-tier MBA programs note that classes and centers devoted to entrepreneurship are on the rise, with roughly 5% of full-time 2011 business school students  founding their own companies right after graduation and notable jumps at places like the Wharton School, Stanford Graduate School of Business and MIT Sloan School of Management.

Despite the increased institutional support, many representatives from the career services office are more circumspect in their approach, Reuters reveals, as they advise students to get a high-paying job after graduation and postpone the entrepreneurial dream until the loans are paid off.

Even at Babson College, which has a top-ranked MBA program focused on entrepreneurship, prudence is prized. “Quite frankly, we do encourage students in general to learn on someone else’s nickel before taking the plunge,” says Janet Strimaitis, managing director of Babon’s Arthur M. Blank Center for Entrepreneurship.

But does that cautious attitude run counter to the entrepreneurial spirit? Chika Ekeji, an entrepreneur who dropped out of the full-time MBA program at MIT Sloan as soon as he got the right idea and team together, believes that advice is traditional and probably pragmatic. “But I actually believe that if the only thing keeping you from starting a company is paying off your student loans, then you should start your company,” Ekeji says.

The article also points out two interesting factors contributing to the recent uptick in entrepreneurship interest: economic trends and a generational shift. With the 2000 dot-com bubble, everyone wanted to be an entrepreneur, says Joaquin Villarreal, manager of the Entrepreneurship Initiative at the Tuck School of Business. When that burst, he notes that suddenly everyone wanted to be a banker.

Meanwhile, the millennial generation has suddenly become old enough to pursue an MBA, and this group is “known for an overblown sense of self-worth and propensity to dream big”–says Maria Halpern, Director of Student Engagement for Wharton’s career management services, making entrepreneurship a perfect career fit.

Whether you fall into the camp of nature or nurture as it relates to entrepreneurship, I think most people would agree that an entrepreneur needs to know the same basic skills as someone running a more established company. After all, every company began as a startup, launched by an entrepreneur.

If anything, you need to know all of the basics as opposed to specializing in one area. My advice to current and prospective MBA students interested in entrepreneurship is to pay close attention in all of your classes—even in the areas you plan to outsource as soon as you have the budget.

While Derrick Bolton, MBA admissions director of the Stanford Graduate School of Business, may advise applicants not to try to stand out, most b-school hopefuls would like to distinguish themselves from the thousands of fellow candidates vying for a seat at one of the top programs.

In the video below, Dawna Clarke, admissions director at the Tuck School of Business, answers questions from prospective students wondering how they can stand out in the applicant pool. As you’ll learn, there’s no easy formula for success…but she does provide several examples of areas to look for greatness within your own professional and educational background.

Whether you’re a first-year in business school or still in the application stage, it’s never too soon to think about how you can globalize your MBA education. A recent post on the Center for International Business blog hosted by the Tuck School of Business stresses to all incoming students that a global career is inevitable, so you must embrace the global opportunities you encounter.

Lisa Miller, executive director of Tuck’s Center for International Business, suggests that students ask themselves the following questions as they map out their educational arc:

• What do you want, career-wise? Where are the international components?
• Look at individual companies. What are the global opportunities?
• When is it the right time to take an expat assignment?
• What experiences are you missing that might be attractive to employers?

“I urge students to make a plan. MBA students need to plan in advance, and they need a Plan A and a Plan B.,” she says. “I tell students to always have a backup plan just in case something doesn’t go exactly as expected.”

Like Tuck School of Business, most MBA programs offer courses that incorporate international travel or take a deep dive into global topics.  According to a post on Leadership’s New Direction, published on the Harvard Business Review blog network, young leaders are creating opportunities across sectors — and borders.

Business leaders will be forced to recognize and serve a broader community of stakeholders than in previous generations. This “broader community” transcends both sector and geographical boundaries…Simply understanding national surroundings will no longer be sufficient.

Miller says she’s seeing a slow evolution among MBA students at Tuck, where it seems the global message is finally hitting home. “I fear that some students don’t fully realize the immediacy of globalization when it comes to their careers. Some might think that global opportunities will come 5 or 6 years after graduation, but not necessarily so,” Miller cautions.

In The MBA Exchange Rate, MBA student Emily Branton says international exposure and experiences abroad are key for MBA students in a competitive job market.

“Going oversees to study is a huge investment,” Branton acknowledges, “But from a professional standpoint it shows employers that you are serious about expanding your horizons and adds substantial value to any firm you are working for.”