I think your friend would have to consider the following :
1) Cost. Which one can he/she afford? No point
starting to build a battle fortress, and then run out of bricks
halfway! 
2) Recognition. Which one is more 'recognised'?
Which faculty has better standing?
3) His short-term plans. Is he/she planning to date and
get married amidst studying for the degree? Or is he prepared
to put aside his social life and all other plans to study?
4) Modules being covered. Is he/she the sort who just
die-die want a degree? Or is he/she interested in getting a
good background with which to understand certain aspects of the
business world better? A degree doesn't guarantee that one
will become a good manager, no way, José! But with the right
approach, it does provide alternative perspectives to
decision-making.
5) Duration. WHY is one degree program only for a year,
whilst the other is for 3 years? Does the longer one include
less modules per semester whilst the other one crams more modules
within the same time frame? If so, does your friend want to
go slow and easy or kamikaze style? 
6) Current Working Condition. Does he/she work in an
environment that is supportive of its employees furthering their
education? For instance, would they give study leave and
perks like that? Is he/she keen on taking the course to
further his career within the same firm or is he planning to get
the degree in hand quickly, and then scoot off to 'greener'
pastures?
7) Sponsorship and 'Bond'. Is the company sponsoring the
course? What is the length of bond afterwards? Once
again, Point #6 has to be taken into account.
These are the factors I would consider before making my
decision.
Sigh... miss those days when I worked as a Human Resource
Administrator in the HR Devt section...
Rhonda's so detailed in her analysis, I just need to +1!
