Is the IELTS enough for studying an MBA abroad? Or, do I need to prepare for the GRE/GMAT too? Which universities do not require the GRE/GMAT?

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You can do MBA with your IELTS score. Many universities/colleges/institutions they offer admission even without GRE/GMAT scores. Since the list is very big so it can only depend on the country you wanted to go.
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