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Encyclopedia > Master of Business Administration

The Master of Business Administration (MBA) is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The MBA degree has since achieved worldwide recognition. Accreditation bodies exist specifically for MBA programs to ensure consistency and quality of graduate business education, and business schools in many countries offer MBA programs tailored to full-time, part-time, executive, and distance learning students, with specialized concentrations. Each year, well-known business publications such as Business Week, Financial Times, and the Wall Street Journal publish rankings of selected MBA programs that, while controversial in their methodology, nevertheless directly influence the prestige of schools that achieve high scores. MBA might refer to: Married, But Available, playboys joke Master of Business Administration, university degree. ... The American Legend Cooperative (ALC) is an agricultural marketing cooperative of over 1000 mink fur farmers, best known for its Blackglama and American Legend brands of fur. ... This article does not cite any references or sources. ... In economics, a business is a legally-recognized organizational entity existing within an economically free country designed to sell goods and/or services to consumers, usually in an effort to generate profit. ... Look up Administration (business) in Wiktionary, the free dictionary. ... Scientific management, also called Taylorism or the Classical Perspective, is a method in management theory that determines changes to improve labour productivity. ... Accreditation is a process by which a facilitys services and operations are examined by a third-party accrediting agency to determine if applicable standards are met. ... Distance Learning is learning carried out apart from the usual classroom setting; in an asynchronous setting. ... BusinessWeek is a business magazine published by McGraw-Hill. ... The Financial Times (FT) is a British international business newspaper. ... The Wall Street Journal is an influential international daily newspaper published in New York City, New York with an average daily circulation of 1,800,607 (2002). ... MBA redirects here. ...

Contents

Background

The first American business school, Wharton School of the University of Pennsylvania, was established in 1881. The Tuck School of Business, part of Dartmouth College, was the first graduate school of management in the United States. Founded in 1900, it was the first institution conferring advanced degrees (masters) in the commercial sciences, the forebearer of the modern MBA. A business school is a university-level institution that confers degrees in Business Administration. ... The Wharton School Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. ... The Amos Tuck School of Business Administration is the business school of Dartmouth College in Hanover, New Hampshire. ... Dartmouth College is a private, coeducational university located in Hanover, New Hampshire, USA. Incorporated as Trustees of Dartmouth College,[6][7] it is a member of the Ivy League and one of the nine colonial colleges founded before the American Revolution. ... This article does not cite any references or sources. ...


As the U.S. MBA model emerged at the turn of the 20th century, Europeans developed such business schools as Webster Graduate School at Regent's College, London; elsewhere colleges such as Cranfield School of Management, Cass Business School, London, IMD, SIBM, and MBA-HSG were established for management training. The University of Chicago Graduate School of Business first offered working professionals the Executive MBA (EMBA) program in 1940, and this type of program is now offered by most business schools today. In 1950 the first MBA degrees were awarded outside the United States by the University of Western Ontario in Canada,[1] followed in 1951 with the degree awarded across the Atlantic by the University of Pretoria in South Africa.[2] Moreover, the Institute of Business Administration, Karachi in Pakistan was established in 1955 as the first Asian business school by the Wharton School of the University of Pennsylvania. The Webster Graduate School runs the longest-established American MBA program in London. ... Cranfield School of Management, part of Cranfield University has provided management training since the late 1940s. ... The Cass Business School of London (officially the Sir John Cass Business School, City of London) is a business school located in the City of London, England, and is part of The City University, London. ... The International Institute for Management Development is a business school located in Lausanne, Switzerland. ... The tone or style of this article or section may not be appropriate for Wikipedia. ... The view of the city from the nearby hills. ... The University of Chicago Graduate School of Business, also known as Chicago GSB, is one of the world’s leading business schools and the second oldest in the United States. ... The University of Western Ontario (known as Western, as well as UWO or Western Ontario) is a research university located in London, Ontario, Canada. ... The University of Pretoria is a university in South Africa, with a total of about 38 499 students being enrolled in 2005. ... There are two business schools named the Institute of Business Administration: Institute of Business Administration Karachi is the older of the two and is in Karachi, Pakistan. ...   (Sindhi: , Urdu: ) is the largest city in Pakistan and is the provincial capital of Sindh province. ... The Wharton School Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. ...


In 1957, INSEAD became the first European university offering the MBA degree, followed in 1964 by IESE (first two-year program in Europe), the Rotterdam School of Management in 1966, the Cranfield School of Management in 1967 and in 1969 by the HEC School of Management (in French, the École des Hautes Études Commerciales) and the Institut d'Etudes Politiques de Paris. In 1968, the Asian Institute of Management was founded. INSEAD is a graduate business school and research institution with campuses in Fontainebleau (near Paris), France and in Singapore. ... IESE Business School of the University of Navarra: A top business school, according to Financial Times and the Economist Intelligence Unit. ... The Rotterdam School of Management Erasmus University (or RSM Erasmus University) is an international business school located in Rotterdam, the Netherlands. ... Cranfield School of Management, part of Cranfield University has provided management training since the late 1940s. ... The HEC School of Management or École des Hautes Études Commerciales, is a business school, and one of the most prestigious French Grandes Écoles. ... Institut détudes politiques de Paris (English: Paris Institute of Political Studies), often referred to as Sciences Po (pronounced see-ahns po), is a Grand Établissement in Paris, France. ... The Asian Institute of Management, or simply AIM, is an international graduate school of business and a center of business and management research. ...


The MBA degree has been adopted by universities worldwide, and all six habitable continents have universities offering MBA programs.


In Europe, the recent Bologna Accord established uniformity in three levels of higher education: Bachelor (three years), Masters (five years), and Doctorate (eight years). Students can acquire professional experience after their initial bachelor degree at any European institution and later complete their masters in any other European institution via the European Credit Transfer and Accumulation System. A European masters degree in Management is therefore equivalent to the American MBA having additional scientific content; for example, a European master of science in management requires writing and defending a master's thesis. The purpose of the Bologna process is to create the European higher education area by harmonising academic degree standards and quality assurance standards throughout Europe for each faculty and its development. ... European Credit Transfer and Accumulation System (ECTS) is a standard for comparing the study attainment and performance of students of higher education across the European Union. ... This article is about the thesis in academia. ...


Accreditation

Business schools or MBA programs may be accredited by external bodies which provide students and employers with an independent view of their quality, and indicate that the school's educational curriculum meets specific quality standards. The Association to Advance Collegiate Schools of Business (AACSB) accreditation is generally regarded as the standard for MBA programs. The AACSB covers business schools worldwide. 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. ...


The United States also has six regional accreditation agencies as members of the Council for Higher Education Accreditation (CHEA): Middle States Association of Colleges and Schools (MSA), New England Association of Schools and Colleges (NEASCSC), North Central Association of Colleges and Schools (NCA), Northwest Commission on Colleges and Universities (NWCCU), Southern Association of Colleges and Schools (SACS), and Western Association of Schools and Colleges (WASC).[3] Council for Higher Education Accreditation (CHEA) is an association of 3,000 degree-granting colleges and universities, which also recognizes 60 institutional and programmatic accrediting organizations. ... The Middle States Association of Colleges and Schools is a voluntary, peer based, non-profit association dedicated to the educational excellence and improvement through peer evaluation and accreditation. ... Accredition organization in New England. ... The North Central Association of Colleges and Schools (NCA) is one of six regional accreditation organizations recognized by the United States Department of Education. ... The Northwest Commission on Colleges and Universities (NWCCU) is an independent, non-profit membership organization recognized by the U.S. Department of Education and the Council for Higher Education Accreditation (CHEA) as the regional authority on educational quality and institutional effectiveness of higher education institutions in the seven-state Northwest... The Southern Association of Colleges and Schools (SACS) is a regional accreditor for over 13,000 public and private educational institutions ranging from preschool to college level in the Southern United States. ... The Western Association of Schools and Colleges (WASC) is one of six official academic bodies responsible for the accreditation of public and private universities, colleges, secondary and elementary schools in the United States and foreign institutions of American origin. ...


Other U.S. accreditation agencies include the Association of Collegiate Business Schools and Programs (ACBSP) which typically accredits smaller, private American schools, and the International Assembly for Collegiate Business Education (IACBE). The Association of Collegiate Business Schools and Programs was founded in 1988 to create an organization and an accreditation process designed to fit the needs of business programs focused on teaching and learning. ...


Accreditation agencies outside the United States include the Association of MBAs (AMBA), a U.K. based organization that accredits MBA, DBA and MBM programmes worldwide; the Council on Higher Education (CHE) in South Africa; the European Quality Improvement System (EQUIS) for mostly European and Asian schools; and the Foundation for International Business Administration Accreditation (FIBAA) in Europe. AMBA, the Association of MBAs, is a UK based organization that accredits Doctor of Business Administration, MBA and MSc in management programs of international business schools. ... The European Quality Improvement System (or EQUIS) is an accreditation system for higher education institutions in management and business administration, run by the European Foundation for Management Development. ...


Basic types of MBA programs

Full-time MBA programs are the most common, normally lasting two years. Students enter with a reasonable amount of prior real-world work experience and take classes during weekdays like other university students.


Accelerated MBA programs are a variation of full time programs, lasting 18 months or less, involving a higher course load.


Part-time MBA programs normally hold classes on weekday evenings, after normal working hours. Part-time programs normally last three years or more. The students in these programs typically consist of working professionals, who take a light course load for a longer period of time until the graduation requirements are met.


Executive MBA (EMBA) programs developed to meet the educational needs of managers and executives, allowing students to earn an MBA or another business-related graduate degree in two years or less while working full time. Participants come from every type and size of organization – profit, nonprofit, government — representing a variety of industries. EMBA students typically have a higher level of work experience, often 10 years or more, compared to other MBA students. In response to the increasing number of EMBA programs offered, The Executive MBA Council was formed in 1981 to advance executive education.


Distance learning MBA programs hold classes off-campus. These programs can be offered in a number of different formats: correspondence courses by postal mail or email, non-interactive broadcast video, pre-recorded video, live teleconference or videoconference, offline or online computer courses. Many respectable schools offer these programs; however, so do many diploma mills. Potential students should check the school's accreditation before undertaking distance learning coursework. Distance Learning is learning carried out apart from the usual classroom setting; in an asynchronous setting. ... An old-fashioned form of distance learning, a correspondence course is a course in which the student studies at home, receiving his/her work by mail and sending it back to the instructor in the same fashion. ... A British pillar box The postal system is a system by which written documents typically enclosed in envelopes, and also small packages containing other matter, are delivered to destinations around the world. ... E-mail, or email, is short for electronic mail and is a method of composing, sending, and receiving messages over electronic communication systems. ... Broadcasting is the distribution of audio and video signals (programs) to a number of recipients (listeners or viewers) that belong to a large group. ... // Bold textBold textBold textBold textIn telecommunication, teleconference is the live exchange and mass articulation of information among persons and machines remote from one another but linked by a telecommunications system, usually over the phone line. ... This article or section should be merged with Video teleconference A videoconference is a live connection between people in separate locations for the purpose of communication, usually involving audio and often text as well as video. ... A diploma mill (also known as a degree mill) is an organization that awards academic degrees and diplomas with substandard or no academic study, and without recognition by official accrediting bodies. ... Accreditation is a process by which a facilitys services and operations are examined by a third-party accrediting agency to determine if applicable standards are met. ...


Dual MBA programs combine MBA degree with others (such as an MS or a J.D., etc) to let students cut costs (dual programs usually cost less than pursuing 2 degrees separately), save time on education and to tailor the business education courses to their needs. A masters degree is an academic degree usually awarded for completion of a postgraduate course of one or two years in duration. ... J.D. redirects here; for alternate uses, see J.D. (disambiguation) J.D. is an abbreviation for the Latin Juris Doctor, also called a Doctor of Law or Doctorate of Jurisprudence, and is the law degree typically awarded by an accredited U.S. law school after successfully completing three years...


Admissions criteria

Most programs base admission on the Graduate Management Admission Test (GMAT), significant work experience, academic transcripts, essays, references or letters of recommendation, and personal interviews. Schools are also interested in extracurricular activities, community service activities and how the student can improve the diversity and contribute to the student body as a whole. All of these qualifications are important for admission; however, some schools such as Harvard University do not weigh GMAT scores as heavily as other criteria.[4] The Graduate Management Admissions Test (GMAT, pronounced G-mat) is a standardized test for measuring aptitude to succeed academically in graduate business studies. ... Harvard redirects here. ...


Most schools are first concerned with whether or not the applicant can handle the quantity of course work. The GMAT (the quantitative score) and academic transcripts help determine this. Once the school determines that the student can succeed academically, they examine the remainder of the application to evaluate the applicant's experience and leadership abilities.


Program content

Most top MBA programs cover similar subjects within their core required courses. For information about the typical content of an MBA program's core curriculum, see the overview at the Wikiversity MBA topic page.


Breadth

MBA programs expose students to a variety of subjects, including economics, organizational behavior, marketing, accounting, finance, strategy, operations management, international business, information technology management, supply chain management, project management and government policy. Students traditionally study a wide breadth of courses in the program's first year, then pursue a specialized curriculum in the second year. Full-time students typically seek an internship during the interim. Face-to-face trading interactions on the New York Stock Exchange trading floor. ... 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. ... For the magazine, see Marketing (magazine). ... It has been suggested that Accounting scholarship be merged into this article or section. ... 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 art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives[1]. It is the process of specifying the organizations objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies... Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. ... International trade is the exchange of goods and services across international boundaries or territories. ... Information technology management (or IT management) is a combination of two branches of study, information technology and management. ... Supply chain management (SCM) is the process of planning, implementing, and controlling the operations of the supply chain as efficiently as possible. ... Project Management is the discipline of organizing and managing resources (e. ...


Specialization

Many programs allow students to specialize or concentrate in a particular area. Standard concentrations include accounting, corporate strategy, decision sciences, economics, entrepreneurship, finance, general management, human resources, international business, marketing, organizational behavior, project management, and operations management. Unspecialized MBA programs often focus second-year studies on strategic management or finance. It has been suggested that Accounting scholarship be merged into this article or section. ... Competitive Strategy is often used in place of Corporate Strategy and vice versa. ... Decision theory is an interdisciplinary area of study, related to and of interest to practitioners in all branches of science, engineering and in all human social activities. ... Face-to-face trading interactions on the New York Stock Exchange trading floor. ... Entrepreneurship is the practice of starting new organizations, particularly new businesses generally in response to identified opportunities. ... 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. ... The term general manager is a descriptive term for certain executives in a business operation. ... This article is about human resources as it applies to business, labor, and economies. ... This article or section may contain external links added only to promote a website, product, or service – otherwise known as spam. ... For the magazine, see Marketing (magazine). ... 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. ... Project Management is the discipline of organizing and managing resources (e. ... Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. ... Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives[1]. It is the process of specifying the organizations objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies... 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. ...


In addition, a program may offer more specialized concentrations such as Asian business, consulting, sports management, or degrees emphasizing real estate or insurance. Many schools offer unique concentrations available nowhere else. For other uses, see Consultant (disambiguation). ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. ...


The MBA degree outside the U.S.

Today, MBA and Doctor of Business Administration (DBA) designations can be found anywhere and even accessed through on-line, distance learning or e-learning. Because of the varying standards of MBAs worldwide, many business schools are accredited by independent bodies, such as the Association of MBAs and the European Foundation for Management Development. The degree of Doctor of Business Administration (D.B.A.) is a research doctorate that focuses upon business practice. ... 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. ... This article or section is not written in the formal tone expected of an encyclopedia article. ... Accreditation is a process by which a facilitys services and operations are examined by a third-party accrediting agency to determine if applicable standards are met. ... AMBA, the Association of MBAs, is a UK based organization that accredits Doctor of Business Administration, MBA and MSc in management programs of international business schools. ... The European Foundation for Management Development (EFMD) is a network association in the field of management development. ...


United Kingdom

The UK based Association of MBAs (AMBA) was established in 1967 and is an active advocate for MBA degrees. The Association's accreditation service is internationally recognised for all MBA, DBA and PEMM programs. AMBA also offer the only professional membership association for MBA students and graduates. UK MBA programs typically consist of a set number of taught courses plus a dissertation or project. AMBA, the Association of MBAs, is a UK based organization that accredits Doctor of Business Administration, MBA and MSc in management programs of international business schools. ...


Persons holding an MBA from the world's top 50 business schools (according to the list published by the U.K. government[5]) automatically receive the minimum score necessary to qualify for the U.K.'s Highly Skilled Migrant Programme. This program initially entitles the person to a two-year U.K. work permit, after which it can be renewed for an additional three years, if that person is gainfully employed at the time of renewal.[6] The Highly Skilled Migrant Programme (HSMP) is designed to allow highly skilled people to migrate to the United Kingdom to look for work or self-employment opportunities. ...


Germany

Germany was one of the last western countries to adopt the MBA degree. In 1998 the Hochschulrahmengesetz (Higher Education Framework Act), a German federal law regulating higher education including the types of degrees offered, was modified to permit German universities to offer master's degrees. The traditional German degree in business administration was the Diplom but since 1999, bachelor's and master's degrees have gradually displaced the traditional degrees (see Bologna process). Today most German business schools offer the MBA. German MBA degrees should be accredited by the Foundation for International Business Administration Accreditation (FIBAA), the only agency officially recognized by the German Akkreditierungsrat (accreditation council), the German counterpart to the US-American CHEA. Furthermore, most German states require that universities receive accreditation by an officially recognized accreditation agency, so FIBAA accreditation is mandatory in these states although accreditation by other agencies remains voluntary. All universities themselves must also be recognised by the state (staatlich anerkannt), which guarantees that they have the relevant funds to offer education, and are able to award degrees that have value. Diplom (from Greek Δίπλωμα diploma) is an academic degree in some European countries including Germany, Austria, The Netherlands, Switzerland, Estonia, Croatia, Serbia and Greece. ... The purpose of the Bologna process (or Bologna accords) is to create the European higher education area by making academic degree standards and quality assurance standards more comparable and compatible throughout Europe. ... Council for Higher Education Accreditation (CHEA) is an association of 3,000 degree-granting colleges and universities, which also recognizes 60 institutional and programmatic accrediting organizations. ... Germany is a Federal Republic made up of 16 States, known in German as Länder (singular Land). ...


Ukraine

Recently MBA programs appeared in Ukraine where there are now about ten schools of business offering a variety of MBA programs. Two of these are subsidiaries European schools of business, while the remaining institutions are independent.


South Africa

In 2004, South Africa’s Council on Higher Education (CHE) completed an extensive re-accreditation of MBA degrees offered in the country. The process was the first of its kind in the world to be undertaken by a statutory body and attracted widespread international media attention for its innovation and thoroughness.


Ghana

Business schools of the traditional universities such as the University of Cape Coast and the University of Ghana run a variety of MBA programs. In addition, foreign accredited institutions offer MBA degrees by distance learning in Ghana. The University of Cape Coast, Ghana, is one of the rare sea-front universities in the world. ... The University of Ghana is the oldest and largest of the five Ghanaian public universities. ...


India

The Indian Institutes of Management (IIM) are the oldest institutions for management education in India. Gaining admission to any of the IIM schools requires passing the Common Admission Test. The acceptance rate is less than 1%, making the IIMs among the world's most selective schools. The institute offers a postgraduate diploma in management which is recognized in India as similar to an MBA degree. Location of IIMs The Indian Institutes of Management (IIMs) are Indias premier business schools that also conduct research and provide consultancy services in the field of management to various sectors of the Indian economy. ... The Common Admission Test (CAT) is an all-India test conducted by the Indian Institutes of Management (IIMs) as an entrance test for the management programmes of its six business schools. ...


Pakistan

The Lahore University of Management Sciences (LUMS) MBA program has instituted exchange programs with other schools in Europe and Asia. The Asian Development Bank recognizes LUMS as a center of excellence and awards full scholarships to MBA applicants from ADB member countries, covering the tuition fees, medical insurance, housing allowance, and other expenses. In addition to LUMS, other universities in Pakistan offer MBA degrees in affiliation with several American universities. The Main Entrance. ...


Rest of Asia

International MBA programs are acquiring brand value in Asia. For example, while a foreign MBA is still preferred in South Korea, many students are now studying at one of many "Global MBA" English language programs being offered.


In Japan, the Graduate School of International Corporate Strategy at Hitotsubashi University offers a full-time MBA program taught entirely in English. In Taiwan, the College of Commerce at National Chengchi University offers the first fully accredited English-taught International MBA program in Taiwan. Hong Kong and Singapore are also becoming MBA destinations. The Graduate School of International Corporate Strategy (ICS) is the business school of Hitotsubashi University in Tokyo, Japan. ... Hitotsubashi University ) is a national university in Tokyo, Japan. ... The College of Commerce (Traditional Chinese: ; Simplified Chinese: ; Pinyin: ; abbreviated CNCCU) at National Chengchi University (NCCU) was established in 1957 with the aim of cultivating entrepreneurial competence of students as well as enhancing frontier research in all areas of business. ... 國立政治大學 National Chengchi University © National Chengchi University National Chengchi University (Traditional Chinese: 國立政治大學; Simplified Chinese: 国立政治大学; Pinyin: Guólì Zhèngzhì Dàxué; National Political University) is a public university at Muzha in Wenshan District, Taipei City, Taiwan. ... International MBA program (Traditional Chinese: ; Simplified Chinese: ; Pinyin: ; abbreviated IMBA) at National Chengchi University College of Commerce was established in 2001 and was the first International MBA program in Taiwan. ...


For North American students who want a different experience, many of these programs offer scholarships and discounted tuition, to encourage an international environment in the classroom.


MBA program rankings

The MBA degree has become one of the most popular masters' degrees. As more universities started offering the degree, differences in the quality of schools, faculty, and course offerings became evident. Naturally, establishing some criteria of quality is needed to differentiate among MBA programs, especially for prospective students trying to decide on where to apply. As MBA programs proliferated, a variety of publications began providing information on them. Some of these consisted of compilations of information gathered from the universities offering the degree, usually published in book form. Eventually periodicals began publishing articles describing various MBA schools and ranking them according to some perceived quality criteria. One of the most prominent of these is Business Week, which devotes a biennial issue to ranking MBA programs. Financial Times, The Economist, Forbes magazine, The Wall Street Journal, and U.S. News & World Report also publish MBA program rankings. See the External links section below to view some of these rankings. BusinessWeek is a business magazine published by McGraw-Hill. ... The Financial Times (FT) is a British international business newspaper. ... The Economist is an English-language weekly news and international affairs publication owned by The Economist Newspaper Ltd and edited in London. ... This article or section does not adequately cite its references or sources. ... The Wall Street Journal (WSJ) is an international daily newspaper published by Dow Jones & Company in New York City, New York, USA, with Asian and European editions, and a worldwide daily circulation of more than 2 million as of 2006, with 931,000 paying online subscribers. ... U.S. News & World Report is a weekly newsmagazine. ...


Different methods of varying validity were used to arrive at rankings of MBA programs. The Gourman Report, for example, did not disclose criteria or ranking methods,[7] and these reports were criticized for reporting statistically impossible data, such as no ties among schools, narrow gaps in scores with no variation in gap widths, and ranks of nonexistent departments.[8] In 1977 The Carter Report published rankings of MBA programs based on the number of academic articles published by faculty. Periodicals based their rankings on interviews with company recruiters who hired MBA graduates, surveys of MBA schools' deans, polls of students or faculty, and a variety of other means. The defunct MBA Magazine asked deans to vote on the best programs. The methods of obtaining ranks often changed from year to year. Initially, rankings included only a small number of universities consisting of the largest and best known Ivy League and state schools. There are also many privately compiled rankings, including the Global Top 100 Business Schools compiled by the QS network. The Princeton Review: Gourman Report is a ranking guide for undergraduate programs and professional programs in American and International Universities. ...


The ranking of MBA programs has been discussed in articles and on academic Web sites.[9] Critics of ranking methodologies maintain that any published rankings should be viewed with caution for the following reasons:[10]

  • Rankings limit the population size to a small number of MBA programs and ignore the majority of schools, many with excellent offerings.
  • The ranking methods may be subject to biases and statistically flawed methodologies (especially for methods relying on subjective interviews of hiring managers).
  • The same list of well-known schools appears in each ranking with some variation in ranks, so a school ranked as number 1 in one list may be number 3 in another list.
  • Rankings tend to concentrate on the school itself, but some schools offer MBA programs of different qualities (e.g. a school may use highly reputable faculty to teach a daytime program, and use adjunct faculty in its evening program).
  • A high rank in a national publication tends to become a self-fulfilling prophecy.

One study found that objectively ranking MBA programs by a combination of graduates' starting salaries and average student GMAT score can reasonably duplicate the top 20 list of the national publications.[10] The study concluded that a truly objective ranking would be individualized to the needs of each prospective student.[11] National publications have recognized the value of rankings against different criteria, and now offer lists ranked different ways: by salary, GMAT score of students, selectivity, and so forth. While useful, these rankings still are not tailored to individual needs, and their value is diminished if they use an incomplete population of schools, fail to distinguish between the different MBA program types offered by each school, or rely on subjective interviews. A self-fulfilling prophecy is a prediction that directly or indirectly causes itself to become true. ...


See also

Related information

The Graduate Management Admissions Test (GMAT, pronounced G-mat) is a standardized test for measuring aptitude to succeed academically in graduate business studies. ... A business school is a university-level institution that confers degrees in Business Administration. ...

Other business degrees and certifications

Master of Accountancy (MAcc, MAc, or MAcy), alternatively Master of Professional Accounting (MPAcc) or Master Science in Accounting (MSAcc), is typically a one-year, non-thesis graduate program designed to prepare graduates for public accounting and to provide them with the 150 credit hours required by most states before taking... A Bachelor of Commerce, often abbreviated as BCom, B.Com or BComm , is an undergraduate academic degree in business management. ... An undergraduate degree (sometimes called a first degree or simply a degree) is the most common and primary academic degree available and is normally studied at a higher education institution, such as a university. ... BBA redirects here. ... A bachelors degree is usually an undergraduate academic degree awarded for a course that generally lasts three or four years. ... The degree of Doctor of Business Administration (D.B.A.) is a research doctorate that focuses upon business practice. ... The Certified Business Manager (CBM) is a professional credential created and administered by the Association of Professionals in Business Management (APBM). ... The Master of International Business is an academic degree program that has rapidly gained popularity since the year 2000. ...

MBA accreditation agencies

AACSB International--The Association to Advance Collegiate Schools of Business (AACSB), founded in 1916, has granted specialized business school accreditation to more than 500 degree-granting institutions in 30 countries. ... The Association of Collegiate Business Schools and Programs was founded in 1988 to create an organization and an accreditation process designed to fit the needs of business programs focused on teaching and learning. ... AMBA, the Association of MBAs, is a UK based organization that accredits Doctor of Business Administration, MBA and MSc in management programs of international business schools. ...

References and Notes

  1. ^ Richard Ivey School of Business page showing awarding of first MBA in 1950, one year ahead of the University of Pretoria's claim
  2. ^ University of Pretoria page claiming to have awarded the first MBA outside of America
  3. ^ Koenig, Ann; Lofstad, Rolf (2004-09-18). Higher Education Accreditation in the United States (PDF). EAIE Conference.
  4. ^ Harvard eliminated the GMAT from admissions requirements in 1985, finding that the test made no difference in quality of applicants (see FairTest.org GMAT facts). Harvard reinstated the test in 1996, although they state that "...there is no 'minimum' score requirement, and ... the GMAT is just one piece of data among the many used to evaluate an application" (Harvard Business School Frequently Asked Questions, retrieved 2007-01-29).
  5. ^ 50 Qualifying MBA programmes, Her Majesty's Treasury Pre-Budget Report 2004 (December 2004).
  6. ^ Information about the Highly Skilled Migrant Programme, Working in the UK website.
  7. ^ Selingo, Jeffrey. A Self-Published College Guide Goes Big-Time, and Educators Cry Foul. Chronicle of Higher Education (1997-11-07).
  8. ^ Bedeian, Arthur G. Caveat Emptor: The Gourman Report. The Industrial-Organizational Psychologist (June 2002).
  9. ^ Caution and Controversy (HTML). University of Illinois at Urbana-Champaign. Retrieved on 2005-09-06.
  10. ^ a b Schatz, Martin (1993). "What's Wrong with MBA Ranking Surveys?" (HTML). Management Research News 16 (7): 15-18. 
  11. ^ The Official MBA Guide uses this approach, allowing students and researchers to rank a large population of MBA programs based on a wide range of criteria and combinations.

Year 2004 (MMIV) was a leap year starting on Thursday of the Gregorian calendar. ... is the 261st day of the year (262nd in leap years) in the Gregorian calendar. ... PDF is an abbreviation with several meanings: Portable Document Format Post-doctoral fellowship Probability density function There also is an electronic design automation company named PDF Solutions. ... For the band, see 1997 (band). ... is the 311th day of the year (312th in leap years) in the Gregorian calendar. ... HTML, an initialism of Hypertext Markup Language, is the predominant markup language for web pages. ... A Corner of Main Quad The University of Illinois at Urbana-Champaign (UIUC, U of I, or simply Illinois), is the oldest, largest, and most prestigious campus in the University of Illinois system. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... is the 249th day of the year (250th in leap years) in the Gregorian calendar. ... HTML, an initialism of Hypertext Markup Language, is the predominant markup language for web pages. ...

External links

MBA organizations and accreditation agencies

MBA ranking resources

  • Whitefield Consulting Worldwide Rankings online rankings of MBA programs
  • Compilation of business school rankings from Wall Street Journal
  • Financial Times online rankings of MBA programs
  • The Economist online rankings of MBA programs
  • Official MBA Guide public database of global MBA programs with customizable rank and search queries
  • Top 50 MBA programs as determined by the United Kingdom government (not in rank order)
  • Australian MBA 2007 rankings from "The Graduate Management Association of Australia" 2007
  • http://bwnt.businessweek.com/bschools/06/mba_main.asp Business Week, The Best B-Schools of 2006
  • http://grad-schools.usnews.rankingsandreviews.com/usnews/edu/grad/rankings/mba/brief/mbarank_brief.php, US News & World Report, America's Best Graduate Schools 2008

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