The MBA is a postgraduate degree. It is a Masters in Business Administration. Its a course studied at a University department or Business School. Many Universities offer this course in a variety of formats such as executive and part-time. There are specialisms and you're bound to find a course that suits your requirements.
An Executive MBA programme is structured to minimise disruption to work and other commitments. Its a very good way of obtaining an MBA without need to give up your day job.