Hi Ritabroto,
You ask some important questions. The path that you ultimately take will depend on a number of big-picture issues that you have to define. There are a variety of questions that YOU have to answer about what you want out of an MBA and the parameters that are important to you:
1) Is there a particular company that you want to work for or industry that you want to work in? Certain degrees are more appropriate than others if you have a specific career goal.
2) What do you want your MBA to do for you?
3) Do you want to go to School full-time or part-time?
4) Are you willing to relocate? Are you comfortable with working through a program that is primarily online?
5) Are you going to be applying for scholarships?
Etc.
Once you've determined what type of Program you want to attend (as well as the other variables involved), then you can start to research and narrow down the best possibilities. With that list, you can determine the type of GMAT Score you would need to be a competitive applicant.
GMAT assassins aren't born, they're made,
Rich