The Master of Business Administration ( MBA or M.B.A. ) is a master's degree in business administration (management). The MBA degree originated in the United States in the early 20th century when industrialized nations and companies sought a scientific approach to management. The core courses in the MBA program cover a wide range of business fields such as accounting, applied statistics, business communications, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in the way most relevant to analysis and management strategies..
Most courses also include elective courses and concentrations for further study in specific areas, such as accounting, finance, and marketing. The MBA program in the United States typically requires completing about sixty credits, nearly double the amount of credit normally required for a degree that includes some of the same materials as Master of Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.
The MBA is a terminal degree and a professional degree. Specialized accreditation bodies for the MBA program ensure consistency and quality of education. Business schools in many countries offer tailored programs for part-time, part-time, executives (short courses that usually happen on nights or weekends) and students learn distance, many with special concentration.
Video Master of Business Administration
Histori
The first business school in the United States was The Wharton School of the University of Pennsylvania established in 1881 through donations from Joseph Wharton [4] . In 1900, the Tuck School of Business was founded at Dartmouth College conferring a first advanced degree in business, in particular, the Master of Science in Commerce, an MBA precursor.
The Harvard Graduate School of Business Administration established its first MBA program in 1908, with 15 faculty members, 33 regular students and 47 special students. The first year curriculum is based on the scientific management of Frederick Winslow Taylor. The number of MBA students at Harvard increased rapidly, from 80 in 1908, over 300 in 1920, and 1,070 in 1930. At the moment, only American universities offer the MBA. Other countries prefer people to learn business at work.
Other milestones include:
- 1930: The first leadership management and education program for experienced executives and managers in mid-career (Sloan Fellows Program at the Massachusetts Institute of Technology).
- 1943: First Executive MBA Program (EMBA) for professionals working at the University of Chicago Booth School of Business. Chicago is also the first business school to establish a permanent campus on three continents in Chicago (USA), Barcelona (Europe), and Singapore (Asia). Most business schools today offer a global component to their executive MBA. Since the program was founded, the school has moved its campus and is now based in Chicago, London, and Hong Kong.
- 1946: The first MBA focuses on global management at Thunderbird School of Global Management.
- 1950: First MBA outside the United States, in Canada (Richard Ivey Business School at Western Ontario University), followed by Pretoria University in South Africa in 1951. 1955: The First MBA is offered at an Asian school at the Karachi Institute of Business Administration at Karachi University in Pakistan, in collaboration with the Wharton School of University of Pennsylvania.
- 1957: First MBA offered at European schools (INSEAD).
- 1963: First MBA is offered in Korea by Korea University Business School (KUBS).
- 1986: The first MBA program that requires every student to have a laptop computer in class at Roy E. Crummer Graduate School of Business at Rollins College (Florida). Beginning with the academic year of 1992-1993, Columbia Business School required all incoming students to purchase laptop computers with standard software, becoming the first business school to do so.
- 1994: The first online executive MBA program at Athabasca University (Canada).
The MBA degree has been adopted by universities worldwide in developed and developing countries.
Maps Master of Business Administration
Accreditation
United States
Business schools or MBA program accreditation by external agencies provide students and employers with an independent outlook of school or program quality, as well as whether the curriculum meets certain quality standards. The three major accrediting bodies in the United States are:
- Association for Advance Collegiate Schools of Business (AACSB),
- Board Accreditation for School and Business Program (ACBSP), and
- The International Assembly for Collegiate Business Education (IACBE).
All of these groups also accredited schools outside the US. ACBSP and IACBE themselves are recognized in the United States by the Higher Education Accreditation Board (CHEA). The MBA program with a specialization for students pursuing careers in healthcare management is also eligible for accreditation by the Accreditation Commission on Health Management Education (CAHME).
The US MBA program can also be accredited at the institutional level. Bodies that accredit institutions as a whole include:
- Association of Colleges and Secondary Schools (MSA),
- New England School and Colleges Association (NEASC),
- Higher Learning Commission (HLC),
- Northwest Commission for Colleges and Universities (NWCCU),
- Southern School and School Associations (SACS), and
- Association of Schools and Western Colleges (WASC).
Other countries
Accreditation agencies outside the United States include the Association of MBAs (AMBA), a UK-based organization that accredits MBA, DBA and MBM programs worldwide, government accrediting bodies such as the All India Technical Education Council (AICTE), which accredits the MBA and Postgraduate Diploma Programs of Management (PGDM) throughout India. Some of the leading agencies in India who certify their MBA institutions and programs are the Board of Engineering All India (AICTE) and the University Grant Committee (UGC). The distance MBA program should be accredited by the Board of Distance Education (DEC) in India. The Council of Higher Education (CHE) in South Africa, the European Foundation for Management Development operates the European Quality Improvement System (EQUIS) for most European, Australian, New Zealand and Asian schools, the International Business Administration Accreditation Foundation (FIBAA), and the European Management Development Association Central and Eastern (CEEMAN) in Europe.
Program
The full-time MBA program usually lasts for two academic years (ie about 18 months of semester time). For example, in the Northern Hemisphere they often begin in late August or early September of the first year and continue into May or June of the second year, with summer breaks of three to four months between years one and two. Students enter with a reasonable amount of real-world work experience beforehand and take classes during working days like other university students. The full-time, accelerated, part-time, or modular MBA requires 60 credits (600 class hours) of graduate employment.
The accelerated MBA program is a variation of the two year program. They involve higher course loads with more intense class and exam schedules and are usually summarized into one year. They usually have less down time during the program and between semesters. For example, there are no summer breaks of three to four months, and between the semesters there may be seven to ten days off rather than three to five weeks' vacation. Accelerated programs usually have lower costs than a full two-year program.
Part-time MBA programs usually hold classes on weekday nights after normal business hours, or on weekends. Part-time programs usually last three years or more. The students in this program typically consist of working professionals, who take lightweight course loads for a longer period of time until graduation requirements are met.
Evening (second shift) MBA program is a full-time program that usually hold classes on a weekday night, after normal business hours, or on weekends for two years. The students in this program usually consist of working professionals, who can not leave their jobs to pursue a full-time regular MBA shift. Most of the second shift programs are offered at universities in India.
The Modular MBA program is similar to part-time programs, although it typically uses a key-step curriculum with classes packed together in blocks that last from one to three weeks.
The Executive MBA Program (EMBA) is developed to meet the educational needs of managers and executives, enabling students to earn an MBA (or other business-related graduate degree) in two years or less when working full time. Participants come from every type and size of the organization - profit, nonprofit, government - representing various industries. EMBA students typically have higher levels 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.
The full-time MBA executive program is a new category of full-time 1-year MBA program aimed at professionals with around. 5 years or more. They are mainly offered in countries such as India where the 2-year MBA program is targeted at new graduates with no minimal experience or experience. This full-time MBA executive program is similar to the one-year MBA program offered by schools such as Insead and IMD.
The distance learning MBA program organizes classes off campus. These programs can be offered in a number of different formats: correspondence courses by postal mail or email, non-interactive broadcast videos, pre-recorded videos, live teleconferencing or video conferencing, offline or online computer courses. Many schools offer these programs.
The mixed learning program combines distance learning with face-to-face instruction. These programs typically target working professionals who can not attend traditional part-time programs.
The dual degree MBA program combines MBAs with others (such as MS, MA, or JD, etc.) to let students cut costs (multiple programs usually cost less than chasing 2 degrees separately), save time on education and to customize business education courses for their needs. This is generally achieved by allowing the core program of one program count as an option in the other. Some business schools offer courses where students can earn a bachelor's degree in business administration and an MBA in five years.
Mini-MBA is a term used by many nonprofit and nonprofit agencies to describe training regimens that focus on the basics of business. In the past, the Mini-MBA program is usually offered as a non-credit subject that requires less than 100 hours of total learning. However, due to criticism from these certificates, many schools have now transferred their courses to offer courses for full credit so they can be applied to a complete traditional MBA degree. This is to enable students to verify business related courses for employment purposes and still allow the option of completing a full-time MBA degree program in the next period, if they choose to do so.
Acceptance criteria
Many programs base their admissions decisions on a combination of average undergraduate grades, academic transcripts, entrance exam scores, rÃÆ'Ã… © sumÃÆ'Â © contains significant work experience, essays, letters of recommendation, and personal interviews. Some schools are also interested in extracurricular activities, community service activities or voluntary work and how students can increase school variety and contribute to the student body as a whole.
The Graduate Management Admission Test (GMAT) is the most famous entrance exam used for admission to the MBA program. Graduate Record Examination (GRE) is also accepted by almost all MBA programs to meet the entry exam requirements they may have. Some schools do not consider the entrance test scores as large as other criteria, and some programs do not require entrance exam scores to enter. To achieve diverse classes, business schools also consider male-female target ratios and local-international student ratios. In rare cases, some MBA degrees do not require students to have a bachelor's degree and will receive significant management experience in lieu of a bachelor's degree. In the UK, for example HND or even HNC may be accepted in some programs.
Depending on the program, the type and duration of work experience can be a critical acceptance component for many MBA programs. Many top-tier programs require five or more years of work experience to enter.
The MBA admissions consulting service is there to advise MBA applicants to increase their chances of getting admission to the Business School they want. These services range from evaluating candidate profiles, preparing GMAT, suggesting schools where they can register, write and edit essays, conduct artificial interviews in preparation for MBA admission interviews, as well as post-MBA career counseling.
Content
In general, an MBA program is structured around the core courses (basically standard curriculum) and elective courses that (may) allow for specialization or subject concentration. Thus, within the first year of the program (or part), students acquire both the working knowledge of the management functions and the necessary analytical skills for this, while in the second year (part), students pursue elective courses, which can be taken into account specialization. (Topics in business ethics can be included at the generalist or specialist level.) After the first year, many full-time students seek an internship. This degree culminates with a course in business strategy, a capstone program. A dissertation or a major project is usually a degree requirement upon completion of the course. Many MBA programs end with a comprehensive exit examination; See below.
For the Executive MBA program, the core curriculum is generally the same, but may seek to leverage the strengths associated with the more experienced and professional profiles of the student body, emphasize leadership, and draw more from the individualized experience of each student.
The program is designed in such a way that students get the same theory and practice exposure. Courses include lectures, case studies, and team projects; mixed, will differ by school and format. Theory is covered in classroom setting by the academic faculty, and is strengthened through case methods, placing students in decision-making roles. Similar to real-world business situations, the case covers both obstacles and incomplete information. Practical learning (field immersion) often consists of consulting projects with real clients, and is generally done in teams (or "syndicates"). Practical elements (as well as case studies) often involve external practitioners - sometimes business executives - support the teaching of the academic faculty.
As above, the course begins with an underlying topic and then progresses to a more advanced functional topic in which it is applied; look sideways.
The analytical skills necessary for management are usually discussed initially. The accounting course (s) may treat financial and management accounting separately or in one hybrid course. Financial accounting transactions primarily in the preparation of financial statements while management accounting mainly deals with the analysis of internal results. Managerial economics is a technical course that primarily focuses on product pricing that is influenced by many theories and principals of microeconomics, while aggregate or macroeconomic subjects address topics such as banking systems, money supply, and inflation. Operations and statistical research are sometimes combined as "Managerial Decision Making" or "Quantitative Decision Making"; organizational behavior and human resource management can also be combined. In many programs, applicants with appropriate backgrounds may be exempt from various analytical courses.
Regarding functional courses, some programs treat the curriculum here in two parts: the first course provides an overview, while the second reviews the subject in depth (perhaps as a specialization); alternatively, the first one deals with short-term, tactical issues, while the latter discusses long-term strategic issues (eg, "Financial Management I" may include working capital management, while part II includes capital investment decisions). An Information systems/technology course is increasingly included as a core functional course rather than an elective. Training ethics is often delivered with courses in corporate social responsibility and corporate governance. Note that the course is here, although the technicality in the content is ultimately oriented to the company's management. (For example, a major financial course may include technical assessment of financial instruments and capital increase, but is actually focused on managerial and corporate finance.) Technically oriented courses, when offered, go through specialization.
The program may also include training (by coursework) in the skills required at the senior management level: soft skills, such as leadership (general) and negotiation; hard skills, such as spreadsheets and project management; thinking skills such as innovation and creativity. Training in such areas as multiculturalism and corporate social responsibility is also included. Company visits (including trips abroad), and guest lectures or seminars with CEOs and personal management can also be included. This, with core subjects, provides graduates with breadth, while specialized courses provide depth.
For the business strategy component, the capstone's degree, the focus is to find competitive advantage and long-term position and entity management as a whole. Here, the main functional areas are thus synthesized or integrated into the overall view and the strategy course illustrates how various sub-disciplines integrate to tell one continuous story with each discipline that complements the other. Appropriate training in business leadership can also be scheduled and participation in business or game simulations is also a common requirement. "Strategies" can be offered as a series of courses, starting at the first (planning) and culminating in the second (execution), or as a single intensive course, offered during the second part. Some programs offer specializations in "strategy", others in management consultations that substantially address the same issues.
The MBA dissertation (or thesis at several universities) will, in general, consist of the following in several combinations: literature discussion, providing a critical review and structuring of what is known on a particular topic, with a view to discussing a specific problem; a case study that goes beyond a simple description, containing material analysis that has not been published until now; test of application or limitation of certain known principles or techniques in certain situations, and/or suggested modifications. As an alternative to dissertation, some programs are even possible for large projects. Students here (part-time) will discuss current issues in their organizations; especially in programs with action-oriented learning, this may be practical-oriented. Most MBA programs require additional work in research methodologies, preceding a dissertation or project. Some programs allow that the overall research component can be replaced with additional elective courses.
Exit examination
Many MBA programs culminate in a comprehensive exit exam. The national standardized test known as the Main Field Test for the MBA (MFT-MBA) has been awarded in the MBA program in over 300 US universities. The MFT-MBA aims to assess the skills, knowledge, and reasoning skills in the domain of a standard MBA curriculum. It is managed by the Educational Testing Service. Another prominent option for a comprehensive exit exam is the Comprehensive Professional Components Professional Test for MBA (CPC COMP Exam for MBAs) owned by Peregrine Academic Services. Many programs choose to manage their own in-house exams rather than standardized tests.
Honor Society
The public honor recognizes individuals for high achievement in the MBA program. This honorable society includes:
- Beta Gamma Sigma - membership requires one to be in the top 20% of their program class after completing half of the program.
- Delta Mu Delta - membership requires that someone be in the top 20% of their program class and have a minimum GPA of 3.6 after completing half the program.
- The Financial Management Association - membership requires a person to have an overall 3.5 GPA, or 3.5 GPA in finance and finance, after completing half of the program.
- T10 - membership requires a person to score in the top 10% in the country in a comprehensive national MBA exam.
Careers
MBA prepares individuals for different types of careers. According to a survey by the Graduate Admissions Board, 64% of MBA graduates in 2012 use their MBAs to change careers. Some of the more common MBA jobs prepare one to include:
- Analyst or business strategy
- Business development analyst, partner, or manager
- Director (department)
- Businessman/founder
- Financial analyst
- Management consultant
- Marketing associate, analyst or manager
- Portfolio manager
- Project, product, or program manager
- Operations analyst, partner, or manager
Europe
History
In 1957, INSEAD (the French name of the "Europà © Institut EuropÃÆ' © de d'Administration des Affaires", or European Business Administration Institute) became the first European university to offer an MBA, followed by EDHEC Business School in 1959 and ICADE in 1960 ( which had begun offering in 1956 a "Engineering Seminary for Business Administration"), ESADE and IESE Business School (the first two-year program in Europe) in 1964, UCD Smurfit Business School and Cranfield School of Management in 1964, Manchester Business School and London Business School in 1965, Dublin University (Trinity College), Rotterdam School of Management in 1966, Vlerick Business School in 1968 and in 1969 by HEC School of Management (in French, the ÃÆ'â € cole des Hautes ÃÆ' â € ° tudes Commerciales) and the Institut d'Etudes Politiques de Paris. In 1972, the Swiss business school IMEDE (now IMD) began offering a full-time MBA program, followed by IE Business School (in Spanish, Instituto de Empresas) in 1973, and AGH University of Science and Technology in Cracow, Poland in 1974 In 1991, the IEDC-Bled School of Management became the first school on the former socialist block of the Center and the East to offer an MBA.
Bologna Accord
In Europe, the Bologna Agreement recently establishes uniformity in three levels of higher education: Bachelor (three or four years), Master (one or two years, in addition to three or four years for Bachelor), and Doctorate (three additional or four years after a Master). Students can gain professional experience after their first bachelor's degree in European institutions and then complete their masters in other European institutions through the European Credit Transfer and Accumulation System.
Accreditation standards
Accreditation standards are not uniform in Europe. Some countries have legal requirements for accreditation (eg most states of Germany), in some countries there are legal requirements only for universities of a certain type (eg Austria), and others have no accreditation laws at all. Even where there is no legal requirement, many business schools are accredited by an independent body voluntarily to ensure quality standards.
Austria
In Austria, the private university MBA program must be accredited by the Austrian Accreditation Board (Æ'> st st st st st st st st st Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak Ak <<<<). State-run universities do not have accreditation requirements, however, some of them voluntarily undergo accreditation procedures by independent bodies. There is also a non-academic business school MBA program, which is entitled by the Austrian government to offer this program until the end of 2012 ( Lehrgang universitÃÆ'¤ren Charakters ). Some non-academic institutions work together with state-run universities to ensure the legality of their degrees.
Czech Republic
January 1999 saw the first meeting of the Association of Czech Schools School (CAMBAS). The association is housed within UEP's Center for Doctoral and Management Studies, Prague. All founding members of the association have an MBA program accredited by a partner institution in the United Kingdom or the United States.
French and French-speaking countries
In France and in Francophone countries such as Switzerland, Monaco, Belgium, and Canada, the MBA degree programs in public accredited schools are similar to those offered in Anglo-Saxon countries. Most French Business Schools are accredited by the Conférence des Grandes ÃÆ'â € ° coles, which is an association of higher education institutions outside the main framework of the public education system.
German
Germany is one of the last Western countries to adopt an MBA. In 1998, the Hochschulrahmengesetz (Higher Education Framework Act), German federal law governing higher education including the type of degree offered, has been modified to allow German universities to offer a master's degree. The traditional German degree in business administration is Diplom in Betriebswirtschaft (Diplom-Kaufmann) but since 1999, bachelor and master degrees have gradually replaced traditional degrees due to the Bologna process. Today most German business schools offer MBAs. Most German states require that the MBA degree be accredited by one of the six officially recognized institutions by the German Akkreditierungsrat (accrediting board), the German partner for CHEA America. The busiest of these six institutions (in terms of MBA degrees) is the Foundation for International Business Administration Accreditation (FIBAA). All universities themselves must be institutionally accredited by the state ( staatlich anerkannt ).
Italy
The Italian MBA program at a publicly accredited school is similar to that offered elsewhere in Europe. The Italian Business School is accredited by EQUIS and by ASFOR.
Polish
There are several MBA programs offered in Poland. Some of these are run as partnerships with American or Canadian Universities. Others rely on their own faculties and enrich their programs by inviting guest lecturers. Several MBA programs in Poland are also offered in English.
Portugal
Some business schools offer MBA programs with high rankings in Portugal. The Portuguese MBA program is increasingly internationally oriented, taught in English.
Spanish
Spain has a long history in offering MBA programs with three MBA programs that are often ranked in the top 25 in the world by some international rankings. The Spanish MBA is culturally diverse and taught in English.
Switzerland
There are several schools in Switzerland that offer MBA degrees as part-time, part-time and executive education programs. Some business schools offer MBA programs with specializations such as Finance and Health, technology management, and others. As a country with four different national languages ​​(German, French, Italian and Roman), Switzerland offers most of its programs in English to attract international students to the country.
Ukraine
The MBA program has recently emerged in Ukraine where there are now about twenty business schools offering various MBA programs. Three of them are subsidiaries of European business schools, while the remaining institutions are independent. The MBA program of Ukraine is concentrated mainly on the special matters of business and management in Ukraine. For example, 2/3 of all case studies are based on the real conditions of Ukrainian companies.
United Kingdom
The UK-based MBAs Association (AMBA) was founded in 1967 and is an active advocate for MBA degrees. Associate accreditation services are internationally recognized for all MBA, DBA and Master's in Business and Management (MBM) programs. AMBA also offers the only professional membership membership for MBA students and graduates. The UK MBA program usually consists of a number of taught courses plus a dissertation or project.
Africa
The Financial Times in Executive Education Ranking for 2012 includes 5 African business schools.
Nigeria
Business schools managed as colleges in traditional universities offer a variety of MBA programs. In addition, some stand-alone business schools are allied with foreign business schools.
South Africa
In 2004 the Council of South African Higher Education (CHE) completed a broad re-accreditation of the MBA degree offered in the country.
Ghana
Business schools from traditional universities run a variety of MBA programs. In addition, foreign accredited institutions offer MBA degrees with distance learning in Ghana.
Kenya
The MBA program is offered at many public and private universities.
Students choose to specialize in one of the following areas: Accounting, Finance, Entrepreneurship, Insurance and Human Resources. This course takes 4 semesters each about 4 months.
Asia-Pacific
The International MBA program obtains brand value in Asia. For example, while foreign MBAs are still preferred in the Philippines, many students are now studying at one of the many "Global MBA" English programs offered. Special English MBA programs are also offered in Hong Kong, Indonesia, Malaysia, Singapore, South Korea, Taiwan, and Thailand. For international students who want a different experience, many Asian programs offer scholarships and discounted fees to foster an international environment in the classroom.
Ranking has been published for Asia Pacific schools by Asia Inc. magazine which is a regional business magazine with worldwide distribution. The importance of MBA education in China is also increasing.
Bangladesh
Bangladesh is one of the first countries in Asia to offer an MBA. There are now more than 50 business schools in Bangladesh offering MBAs, primarily targeting graduates with no work experience. Most MBAs are two years full-time. There is little use of GMAT. The Business School does their own admission test instead. Classes are taught in English.
India
There are many business schools and academies in India that offer a two-year MBA or PGDM program accredited by AICTE or UGC.
Indian Institutes of Management is one of the most selective schools in the world according to Bloomberg magazine. They offer postgraduate degrees in management. There are 20 IIM in total, 12 of which were established after 2010.
Malaysia
Malaysia is one of the pioneer countries in Southeast Asia to offer MBA programs. Both public and private universities offer MBA degrees. Most MBAs are in full-time mode and part-time mode. All MBA degrees are in English.
Singapore
Singapore is a leading financial center in Southeast Asia. Its competitive education system starts from elementary school to university and eventually post-graduate studies such as the EMBA program.
Japanese
In Japan, 2 business schools offer accredited MBA degrees (AACSB, AMBA, or EQUIS). The concept of the MBA is still not considered primary because traditional companies still consider that knowledge and learning related to business and management can only be obtained effectively through experience and not in the classroom. In fact, some companies have been known to put new MBA recipients in unrelated fields, or try to re-adjust their Japanese employees who have spent years abroad to earn a degree. As a result, academic institutions in Japan seek to rediscover the perception of the MBA degree, taking into account the local corporate culture.
Pakistan
Pakistan first offered an MBA program outside the United States in 1955 in collaboration with the University of Pennsylvania. Now in Pakistan, there are 187 Universities/Institutes recognized by Pakistan Higher Education Commission, offering MBA programs to students and professionals.
Australia
In Australia, 42 Australian business schools offer MBA degrees (16 are AACSB, AMBA, or EQUIS accredited). Universities distinguish themselves by gaining international accreditation and focusing on national and international rankings. Most MBAs are one to two years full time. There is little use of GMAT, and instead each educational institution defines its own requirements, which typically require years of management level work experience as well as proven academic skills.
The Graduate Management Association of Australia undertakes assessment for the Australian MBA and annually publishes the Australian MBA Star Ratings. The Financial Review Boss performs the bi-annual ranking of the Australian MBA.
New Zealand
In New Zealand, most universities offer MBA classes, usually through a part-time or night-class arrangement. Only two universities offer full-time programs for international students - Otago University (Otago MBA) and Auckland University of Technology (AUT). The Otago MBA is again founded from two, offering a 240 point program while the AUT MBA is a 180 point program.
South Korea
The University of Korea offers a full time and part-time MBA program that typically consists of a two-year curriculum. The first MBA program was offered in 1963 by Korea University Business School (KUBS). In 2007, the Korean Government established "BK21," a project that supports Korean universities to develop their competitiveness in the global MBA market. Korea University Business School topped the evaluation of professional BK21 business school graduates for six consecutive years. Meanwhile, only two universities in Korea are ranked in the "Global Top 100 Executive MBA (EMBA) 2015" ranking organized by the UK Financial Times (Korea University Business School and Yonsei University respectively ranked 27th and 45th around the world).
Program rating
Since 1967, the publication has ranked the MBA program using a variety of methods. The Gourman Report (1967-1997) did not disclose criteria or ranking methods, and these reports were criticized for reporting statistically impossible data, such as no inter-school links, narrow gaps in scores without variation in the wide gap, and the ranks of departments that do not exist. In 1977 The Carter Report ranked the MBA program based on the number of academic articles published by faculty, Ladd & The Lipset Survey ranked business schools based on faculty surveys, and MBA Magazines ranked schools based on votes issued by business school deans.
Today, the publication by Aspen Institute, Business Week , The Economist , Financial Times , Forbes , Quacquarelli Symonds, US News & amp; World Report , University of Texas at Dallas, and Wall Street Journal ranking their own MBA programs. School ratings may vary across publications, because the methodology for ranking differs among publications:
- The Aspen Institute publishes a Beyond Gray Pinstripes rating based on social and environmental stewardship integration into university curriculum and faculty research. Ranking is calculated based on the number of sustainability courses available to students (20%), total student exposure for relevant material (25%), number of courses focused on stewardship by nonprofit (30%), and relevant research faculty (25%). The 2011 survey and ratings include data from 150 universities.
- Business Week rank ' is based on student surveys, company recruiters surveys, and intellectual capital ratings.
- The Economist Intelligence Unit, published in The Economist, surveyed both business schools (80%) and new students and graduates (20%). Ranking criteria include GMAT scores, employment and salary statistics, class selections, and student body demographics.
- Financial Times uses survey responses from alumni who pass three years prior to ranking and information from business schools. Salary and employment statistics are heavily overburdened.
- Forbes only takes into account the return of investment five years after graduation. MBA Alumni are asked about their salaries, tuition fees from their MBA programs and other direct costs as well as opportunity costs involved. Based on this data, the last "5-year gain" is calculated and determines the position of the MBA rating.
- Quacquarelli Symonds QS Global 200 Business Schools Report collects regional ratings of business schools worldwide. Ranking is calculated using a two-year moving average of points set by the company that employs MBA graduates.
- AS. News & amp; World Report combines responses from deans, program directors, and senior faculty members about the academic quality of their programs as well as the professional opinions that employ. Ranking is calculated through weighted quality rating formulas (40%), placement success (35%), and student selectivity (25%).
- The UT-Dallas Research Business Top Rated rated business schools in published research faculty, similar to The Carter Report in the past.
- The Wall Street Journal , which halted the full-time MBA program ranking in 2007, based on its ranking on skills and behavioral development that can predict career success, such as social skills, teamwork orientation, ethics, and analytic skills and solution to problem.
The rating of the MBA program has been discussed in academic articles and websites. Critics of the ranking methodology maintain that published ratings should be viewed with caution for the following reasons:
- The ratings show a deliberate selection bias because they limit the population surveyed to a small number of MBA programs and ignore the majority of schools, many with excellent offers.
- The ranking method may be subject to personal biases and methodologies that are statistically flawed (especially those that rely on subjective interviews with recruitment managers, students, or faculty).
- Ranking does not use objective measures of program quality.
- The same school list appears in each rank with some variations in rank, so schools rated as number 1 in a list can be number 17 in another list.
- Ranking tends to concentrate on representing the school's own MBA, but some schools offer different quality MBA programs but the ranking will only depend on information from the full-time program (for example, schools may use a highly reputable faculty to teach the Program during the day, but use an additional faculty in the evening program or have a much lower acceptance criteria for the evening program than for daytime programs).
- High ratings in a national publication tend to be self-fulfilling prophecies.
- Some of the leading business schools including Harvard, INSEAD, Wharton, and Sloan provide limited collaboration with certain ranking publications because of their perception that ratings are misused.
One study found that the ranking of the MBA program with the initial salary combination of graduates and the average GMAT student scores could roughly duplicate the top 20 list of national publications, and concluded that a truly objective ranking would use objective measures of program quality and be individualized to the needs of each prospective student. National publications have recognized the ratings of different criteria, and now offer rank lists in different ways: with salary, student GMAT score, selectivity, and so on. While helpful, these ratings have not met criticism that ratings are not tailored to individual needs, that they use an incomplete school population, may fail to distinguish between the types of MBA programs offered by each school, or rely on subjective interviews.
Criticism
The media raised questions about the value and content of business school programs after the financial crisis of 2007-2010. In general, graduates are reported to tend to get into finance after receiving their degree. As financial professionals are widely seen as responsible for the global economic crisis, anecdotal evidence suggests recent graduates are choosing different career paths.
Deans in prominent business schools have acknowledged that media and public perceptions about the MBA degree shifted as a result of the financial crisis. Articles have been written about public perceptions about the crisis, ranging from school recognition of problems with the training that students receive for criticism of the role of MBA in the community.
The MBA title has earned a mixed reputation in the MBA curriculum tending to educate students in the direction of "greed is good" based on various simple assumptions about human behavior.
See also
- Business management outline
- Bachelor of Business Administration
Associated business degree
- see: Business education # Postgraduate education.
- Master of Accounting (MAcc or MAcy)/Master of Professional Accounting (MPA, or MPAcc), postgraduate degree in accounting
- Master in Commerce (MCom or MComm), a postgraduate business degree typically focuses on a specific area
- Master in Economics (M.Econ./M.Ec.)
- Company Master (MEnt), postgraduate, technology & amp; company-based qualification
- The Master of Bioscience Enterprise (MBioEnt), a postgraduate degree focusing on the commercialization of biotechnology
- Master in Finance (MFin), a postgraduate degree in finance
- Master in Health Administration (MHA), post-graduate health administration degree
- The Master of International Business (MIB), a postgraduate degree focusing on International Business
- Master in Management (MM), postgraduate business degree
- Master of Science in Management, postgraduate business degree
- Master in Marketing Research (MMR) a postgraduate degree focusing on research in marketing
- Master of Nonprofit Organizations (MNO or MNPO), postgraduate degrees for philanthropy and voluntary sector professionals
- Master of Public Administration (MPA), public graduate administration degree
- Master of Social Science (MSS), postgraduate degree
- Master in Project Management (MSPM or MPM), postgraduate project management degree
- Master in Management: Cooperatives and Credit Unions, postgraduate degrees for cooperative managers and credit unions
- Master in Sustainable Business (MSB)
- Master of Real Estate (MScRE), a postgraduate degree that focuses on real estate.
- Master in Information Management (MIM), a postgraduate degree that focuses on information management.
Executive
- Executive Master of Science in Business Administration (MScBA Executive), a postgraduate degree that focuses on advanced level conceptual level within a chosen field of students such as operational excellence in the biotechnology/pharmaceutical industry.
Doctor
- Doctor of Business Administration (DBA), a doctor in business administration
- Doctor of Management (D.M.)
- PhD in Management (PhD), business doctorate
- D.Phil in Management (D.Phil), a doctor in business
- Engineering Doctorate (EngD), a professional Doctor involving a management thesis and teaching MBA program in the UK
Further reading
- Patterson, Sarah E.; Damaske, Sarah; Sheroff, Christen (June 2017). "Gender and MBA: differences in career path, institutional support, and outcome". Gender & amp; Community . Sage. 31 (3): 310-332. doi: 10.1177/0891243217703630.
References
External links
Source of the article : Wikipedia
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