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Encyclopedia > Executive MBA

Master of Business Administration (MBA) is a tertiary degree in business management. Originally designed to provide engineers with management skills, today's MBA draws applicants from a range of disciplines. Management (from Old French ménagement the art of conducting, directing, from Latin manu agere to lead by the hand) characterises the process of leading and directing all or part of an organization, often a business, through the deployment and manipulation of resources (human, financial, material, intellectual or intangible). ... Management (from Old French ménagement the art of conducting, directing, from Latin manu agere to lead by the hand) characterises the process of leading and directing all or part of an organization, often a business, through the deployment and manipulation of resources (human, financial, material, intellectual or intangible). ...


An MBA is considered a professional Master's degree as well as a traditional or academic Master's degree. However, completion of a professional MBA does not usually preclude admission to a Ph.D. (program for research-oriented engagements) although it could be helpful. Schools that offer the MBA are usually known as either management or business schools. Professional Masters degrees are awarded by a university and require that a candidate already has been awarded a first degree, normally a bachelors degree to matriculate into the program. ... A masters degree is an academic degree usually awarded for completion of a postgraduate or graduate course of one to three years in duration. ... Doctor of Philosophy (Ph. ... In the USA a business school is a graduate school which offers an Masters of Business Administration. ...

Contents


History

The MBA designation originated in the USA, emerging as the country industrialized and companies sought out scientific approaches to management. The first American business school, Wharton School of the University of Pennsylvania, was established in 1891. Tuck School of Business, part of Dartmouth College, offered the first MBA in 1900. For the scientific journal named Science, see Science (journal). ... The Wharton School of the University of Pennsylvania is a business school at the University of Pennsylvania, USA. It is one of the worlds leading business schools. ... Founded in 1900, the Amos Tuck School of Business Administration at Dartmouth College is the worlds oldest graduate school of management. ... For other uses of the name Dartmouth, see Dartmouth Dartmouth College is a private university in Hanover, New Hampshire, and a member of the Ivy League. ... 1900 is a common year starting on Monday. ...


In 1881 the Chamber of Commerce and Industry of Paris founded HEC as one of the first business schools in France. In 1898 the University of St.Gallen was also founded as one of the first business schools in Europe. As the US MBA model emerged at the turn of the 20th century, Europeans developed centres of excellence in business, such as at the universities of London and Manchester. Elsewhere in Europe, companies started management programs, such as Cass Business School, London, IMD, INSEAD, Henley Management College and Ashridge to provide management training for promising employees. In 1968, the Asian Institute of Management was founded. In 1969, HEC started the HEC MBA Program. However, unless otherwise specified as Mini MBA program leading to an award and formal alumni status, quality of open-executive programs are not comparable with a formal MBA degree. 1881 was a common year starting on Saturday (see link for calendar). ... 1898 was a common year starting on Saturday (see link for calendar). ... (19th century - 20th century - 21st century - more centuries) Decades: 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s 1980s 1990s As a means of recording the passage of time, the 20th century was that century which lasted from 1901–2000 in the sense of the Gregorian calendar (1900–1999 in the... World map showing location of Europe When considered a continent, Europe is the worlds second-smallest continent in terms of area, with an area of 10,600,000 km² (4,140,625 square miles), making it larger than Australia only. ... The clock tower of the Palace of Westminster, which contains Big Ben London is the capital city of the United Kingdom and of England. ... Manchester is a city in the North West of England. ... // Background The Cass Business School (officially Sir John Cass Business School, City of London) is a highly-ranked world-class business school located in the City of London, UK and is part of the City University, London. ... IMD can stand for: International Institute for Management Development Intermodulation distortion The University of Southern Californias Interactive Media Division This is a disambiguation page — a list of pages that otherwise might share the same title. ... Campus in Fontainebleau, France INSEAD (Institut Européen dAdministration des Affaires) is widely recognised among the worlds top-tier business schools and is one of the most innovative and influential. ... This article is being considered for deletion in accordance with Wikipedias deletion policy. ... View from the top of the monument to the house Ashridge is an estate and house in Hertfordshire, England; part of the land stretches into Buckinghamshire and it is close to the Bedfordshire border. ... 1968 was a leap year starting on Monday (the link is to a full 1968 calendar). ... The Asian Institute of Management or AIM is a school of business and a center of business research. ... 1969 was a common year starting on Wednesday For other uses, see Number 1969. ... The HEC MBA is a full-time, 16-month, generalist program that is fully accredited by AMBA, EQUIS, and AACSB. Throughout the program, personal enhancement and professional skills are emphasized. ... An alumn (with a silent n), alum, alumnus, or alumna is a former student of a college, university, or school. ...


In the United States, the average cost attaining an MBA degree via an accredited full-time program (excluding room and board) rose from $124,000 in 1993 to $162,000 in 2001 (see Davies and Cline, 2005). The bulk of the cost is in the form of foregone earnings ($109,000 in 1993 and $139,000 in 2001). Accounting for the decrease in expected unemployment as well as the increase in expected wages and expected wage growth, the financial benefits to holding an MBA degree are the equivalent of an 18% rate of return on the cost of the degree (see Davies and Cline, 2005).


Executive MBA

Executive Master of Business Administration (EMBA) programs were first established for senior executives by the University of Chicago in 1943. These programs typically require significant business experience to gain admission. They may serve as finishing schools for upwardly mobile executives, or as catch-up educational opportunities for technical executives who lack business expertise. The University of Chicago is a private co-educational university located in Chicago, Illinois. ... 1943 is a common year starting on Friday. ... A finishing school is a private school for girls that emphasizes cultural studies and prepares students especially for social activities. ...


Such EMBA alumni directories are generally regarded as the sources of top tier business talents in the world.


Admissions Criteria

Programs usually base admissions on the GMAT test, significant work experience, academic transcripts, references, and personal interviews. Schools are also interested in extra curricular activities and community service activities. The latter is more so for what are considered top-tier full-time MBA programs. Graduate Management Admission Test, perhaps better known by its initialism GMAT, is a standardized test for determing aptitude in business management studies. ...


Program Content

Breadth

MBA programs expose students to a variety of subjects, including economics, organizational behaviour, marketing, accounting, finance, strategy, international business, information technology management, and government policy. U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau of Economic Research (USA) - Economics material from the organization... Organizational Studies (also known as Industrial Organizations, Organizational Behavior and I/O) is a distinct field of academic study which takes as its subject organizations, examining them using the methods of economics, sociology, political science, anthropology, and psychology. ... Marketing is the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals. ... Accountancy (British English) or accounting (American English) is the process of maintaining, auditing, and processing financial information for business purposes. ... Finance studies and addresses the ways in which individuals, businesses and organizations raise, allocate and use monetary resources over time, taking into account the risks entailed in their projects. ... Strategic management is the process of specifying an organizations objectives, developing policies and plans to achieve these objectives, and allocating resources so as to implement the plans. ... International trade is the exchange of goods and services across international boundaries. ... Information technology management is a combination of two branches of study, Information technology and Management. ...


In the traditional US MBA model, students study a wide breadth of courses in the program's first year, then pursue specialization in the second year.


In other parts of the world programmes normally last for shorter periods. Typically in Europe the duration is between 11 and 16 months.


Specialization

Many programs allow students to specialize in a particular area, such as organizational behaviour, marketing, accounting, finance, technology management, strategy or international business. Unspecialized MBA programs often focus second-year studies on strategy. Organizational Studies (also known as Industrial Organizations, Organizational Behavior and I/O) is a distinct field of academic study which takes as its subject organizations, examining them using the methods of economics, sociology, political science, anthropology, and psychology. ... Marketing is the process of planning and executing the pricing, promotion, and distribution of goods, ideas, and services to create exchanges that satisfy individual and organizational goals. ... Accountancy (British English) or accounting (American English) is the process of maintaining, auditing, and processing financial information for business purposes. ... Finance studies and addresses the ways in which individuals, businesses and organizations raise, allocate and use monetary resources over time, taking into account the risks entailed in their projects. ... A strategy is a long term plan of action designed to achieve a particular goal, as differentiated from tactics or immediate actions with resources at hand. ...


MBAs in Academic advancement

MBAs from universities evaluated by United States National Research Council (USNRC) may equip future scholars and professors. Such MBA category is a milestone for both professional and academic career advancement. Refer to faculty directories of such schools and USNRC ratings. The National Research Council of the USA is the working arm of the National Academy of Sciences and the National Academy of Engineering, carrying out most of the studies done in their names. ... A professor is a senior teacher and researcher, usually in a college or university. ...


MBAs in Management consulting

Business schools and leading media announced on regular basis recruitment of MBAs by leading management consulting firms. Management consulting (sometimes also called strategy consulting) refers to both the practice of helping companies to improve performance through analysis of existing business problems and development of future plans, as well as to the firms that specialize in this sort of consulting. ...


International MBA Programs

Today, MBA/DBA designations can be found anywhere and even accessed through on-line, distance learning or e-learning, such as that offered by the Open University Business School of the UK which has students world-wide. Because of the varying standards of MBAs worldwide, many of the elite business schools are accredited by independent bodies, such as the Association of MBAs and the European Foundation for Management Development. DBA has several meanings: database administrator (or analyst) De Bellis Antiquitatis, a tabletop wargame. ... Online means being connected to the Internet or another similar electronic network, like a bulletin board system. ... Distance Learning is learning carried out apart from the usual classroom setting; in an asynchronous setting. ... Typical Managed Learning Environment with a navigation menu and online community building tools. ... Open University Logo © Open University The Open University (OU) is a distance learning university which has students all over the UK and accepted its first students in 1971. ... Generally, accreditation is the process by which a facility becomes officially certified as providing services of a reasonably good quality, so that the public can trust in the quality of its services. ... AMBA is an international organisation that accredits mostly international elite business schools and MBAs, similar to the AACSB in the US. Among the schools accredited by AMBA are: indian institute of management, Aberystwyth Ashridge University of Auckland University of Bath University of Birmingham Bocconi University University of Cambridge, The Judge... The European Foundation for Management Development (EFMD) is a network association in the field of management development. ...


France

France has initiated one-year MBA programs, with INSEAD MBA pioneering this formula in 1959. Other French business schools have created since then (mostly in the 90's) their own MBA program, (12 to 24 months), but with a much lower emphasis on internationalization and diversity than INSEAD's. Campus in Fontainebleau, France INSEAD (Institut Européen dAdministration des Affaires) is widely recognised among the worlds top-tier business schools and is one of the most innovative and influential. ... In the USA a business school is a graduate school which offers an Masters of Business Administration. ... Campus in Fontainebleau, France INSEAD (Institut Européen dAdministration des Affaires) is widely recognised among the worlds top-tier business schools and is one of the most innovative and influential. ...


UK

The UK Government announced in its April 2004 budget that persons holding an MBA degree from the world's top fifty business schools will be entitled to work in the UK for one year. After this year has elapsed, they are likely to qualify for the UK's Highly Skilled Migrant Programme. This, in effect, means that an MBA from one of the top schools is a ticket to UK residency status. 2004 : January - February - March - April - May - June - July - August - September - October - November - December Deaths in April • 18 Ratu Sir Kamisese Mara • 19 Norris McWhirter • 22 Pat Tillman • 24 Estée Lauder Other recent deaths Ongoing events EU Enlargement Exploration of Mars: Rovers Haiti Rebellion Reconstruction of Iraq – Occupation & Resistance Israeli... Budget generally refers to a list of all planned expenses and revenues. ... This article needs to be wikified. ...


Oxford and Cambridge joined the London Business School in the Financial Times league table in 2000, an indication that the MBA degree is proving to be as successful in Europe as it has in the USA. Oxford is a city and local government district in Oxfordshire, England, with a population of 134,248 (2001 census). ... The city of Cambridge is an old English university town and the administrative centre of the county of Cambridgeshire. ... London Business School, in London (UK), established in 1965, is an international business school providing postgraduate degrees in management, including MBA (Master of Business Administration) courses, as well as non-degree courses for business executives. ... The Financial Times (FT) is an international business newspaper printed on distinctive salmon pink broadsheet paper. ... This article is about the year 2000. ...


Non-traditional MBA

MBAs may be freely granted by exemption of professional designation(s) or other undergraduate programs under certain jurisdictions. In such cases, holding a MBA may attach different non-traditional values or images, etc. This may mean a pair of affiliated qualifications or co-branding applicable in certain circles. In law, jurisdiction refers to the aspect of a any unique legal authority as being localized within boundaries. ...


Such post-graduate level exemptions are generally not available in American accredited business schools. Under globalization, even in China, MBA as a state award with exemptions in Uniform MBA exams and/or course work plus attendance is absolutely illegal and impossible. Globalization (or globalisation) is a modern term used to describe the changes in societies and the world economy that result from dramatically increased international trade and cultural exchange. ...


Conversion of non-academic program (particularly at undergraduate level) into post-graduate credits without international credential evaluation and without a formal program of post-graduate learning process are innovative and technical arena in higher adult education. A credential is a proof of qualification, competence, or clearance that is attached to a person, and often considered an attribute of that person. ...


Serious students should balance league table ranking and practicality of having a post-graduate MBA. Please notice that in leading Open Universities, no single module and learning compliance can be exempted. As such, the status of the degree award institutions are our primary reference for MBA value.


External accreditation

Business schools and MBA courses may be accredited by external bodies which provide students and employers with an independent view of their quality.


Acceditation may be provided by

The Association to Advance Collegiate Schools of Business (AACSB) - is the USA based body which awards accreditation following a review of the quality of degree programs delivered by Management Schools. ... EQUIS (European Quality Improvement System) is an accreditation system for higher education institutions in management and business administration, run by the European Foundation for Management Development. ... AMBA is an international organisation that accredits mostly international elite business schools and MBAs, similar to the AACSB in the US. Among the schools accredited by AMBA are: indian institute of management, Aberystwyth Ashridge University of Auckland University of Bath University of Birmingham Bocconi University University of Cambridge, The Judge...

See also

Bachelor of Business Administration (BBA) is a bachelor degree in Business Administration. ... A bachelors degree is usually an undergraduate academic degree awarded for a course that generally lasts three or four years. ... The Doctor of Business Administration (DBA) is an applied, professional doctorate, as opposed to the more research-heavy Doctor of Philosophy or Ph. ...

External links

  • MBA History from The Economist
  • Graduate Management Admission Council (GMAC)
  • Davies, A. and T. Cline, 2005. The ROI on the MBA, BizEd.

  Results from FactBites:
 
Kellogg School Chicago Area EMBA Program (Executive Master of Business Programs) (175 words)
Executive MBA students complete two years of study in general management, leading to an MBA degree.
The program serves mid-career executives preparing for the next level, as well as senior executives who wish to enhance their skills and leadership effectiveness.
As they learn, Executive MBA students are able to immediately apply both functional and managerial skills in their jobs.
  More results at FactBites »

 
 

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