Well it's a far more focused degree than an MBA, in that you study both engineering and business with the idea to bridge the two. So obviously if your intent is to switch industries out of technology it's not the right program Otherwise they are designed to fit a need in the technology industry in which "General management" is not usually enough. You don't see many Tech CEOs that came from retail, cause it requires such a specialized knowledge as well, so the MEM is designed to address that need.

Hope this helps