Seen by many as a tool for a change in direction, the Masters in Business Administration (MBA) is a postgraduate degree focused on training individuals for Senior Management positions, with an emphasis on the development of strategic thinking. There is a large variety of different options for the student dependent on time and money, these range from a full time 2 year qualification; through a part-time 3 year qualification completed whilst working; to a distance learning qualification completed at your own speed. For full-time courses, passing an admission test is a pre-requisite - in many cases this is the Graduate Management Admission Test, which covers verbal reasoning and numerical analysis. Fees can be high but vary considerably, and some employers may be prepared to contribute, although that of course isn't really applicable to someone doing an MBA as a means to a change in direction.
MBAs are taught through a variety of methods, and are not completely reliant on the traditional tandem of lectures and seminars. Interactive teaching methods are also involved, bringing in case studies, group and discussion projects, and role-playing exercises. The student is required to do a considerable amount of reading for the course and produce a research project and dissertation.
It is critically important to realise that all MBA courses are not the same, and that all sensible employers recruiting for an MBA qualified person will check the University or Business School the candidate has graduated from before assessing their worth. INSEAD, Manchester, and Harvard (amongst others) are the gold standard but there are a huge range of possible schools below these. It is therefore worth spending some time researching your chosen school.