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The Tuck School of Business, part of Dartmouth College, was the first graduate school of
business in the United States. Founded in 1900, it was the first institution conferring advanced
degrees (masters) in the commercial sciences, specifically, a Master of Science in Commerce
degree, the forebearer of the modern MBA degree.

In 1908 the Graduate School of Business Administration (GSBA) at Harvard University was
established; it offered the world's first MBA program, with a faculty of 15 plus 33 regular
students and 47 special students.

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 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 by the University of
Pretoria in South Africa.[2] 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. In 1957, INSEAD became the first European business school to offer an MBA
program.[m  ]

The MBA degree has been adopted by universities worldwide, and has been adopted and adapted
by both developed and developing countries[3].

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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 three major accrediting bodies in
the United States are Association to Advance Collegiate Schools of Business (AACSB), which
accredits research universities, the Association of Collegiate Business Schools and Programs
(ACBSP), which accredits junior colleges and teaching colleges, and the International Assembly
for Collegiate Business Education (IACBE),[4] all of which also accredit schools outside the US.
The AACSB and the ACBSP are recognized accrediting agencies for business schools in the
United States by the Council for Higher Education Accreditation (CHEA).[5] MBA programs
with specializations for students pursuing careers in healthcare management also eligible for
accreditation by the Commission on the Accreditation of Healthcare Management Education
(CAHME).

In the United States, a college or university must be accredited as a whole before it is eligible to
have its MBA program accredited. Accrediting bodies that accredit institutions as a whole
include 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).[6]

Accreditation agencies outside the United States include the Association of MBAs (AMBA), a
UK based organization that accredits MBA, DBA and MBM programs 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.

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&   ? programs normally take place over two academic years (i.e. approximately 18
months of term time). For example in the Northern Hemisphere beginning in late
August/September of year one and continuing until May of year two, with a three to four month
summer break in between years one and two. Students enter with a reasonable amount of prior
real-world work experience and take classes during weekdays like other university students.

  
 ? programs are a variation of the two year programs. They involve a higher
course load with more intense class and examination schedules. They usually have less "down
time" during the program and between semesters. For example, there is no three to four month
summer break, and between semesters there might be seven to ten days off rather than three to
five weeks vacation.

 
'
 ? programs normally hold classes on weekday evenings, after normal working
hours, or on weekends. 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.

( 
) ? *? + 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 ² 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.

, 
    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.

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. Some business schools
offer programs in which students can earn both a bachelor's degree in business administration
and an MBA in four or five years.

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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 do not weigh GMAT scores as heavily as other criteria. In order to achieve a diverse
class, business schools also consider the target male-female ratio and local-international student
ratios.

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.

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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.

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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, and project
management. 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.

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Many programs allow students to specialize or concentrate in a particular area. Standard


concentrations include leadership, management consulting, accounting, corporate strategy,
decision sciences, property management, economics, entrepreneurship, finance, general
management, human resources, international business, marketing, information systems /
information technology, telecommunication, organizational behavior, project management,
operations management, supply chain management, and sustainable business. Unspecialized
MBA programs often focus second-year studies on strategic management or finance.
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.

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In 1957, INSEAD became the first European university offering the MBA degree, followed in
1964 by IESE (first two-year program in Europe), UCD Smurfit Business School in 1964,
Manchester Business School and London Business School in 1965, The University of Dublin
(Trinity College), 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 1991, IEDC-Bled
School of Management became the first school in the ex-socialist block of the Central and
Eastern to offer an MBA degree.

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In Europe, the recent Bologna Accord established uniformity in three levels of higher education:
Bachelor (three years), Masters (one or two years in addition to three or four years for a
Bachelor), 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 MBA normally requires writing and defending a
master's thesis.

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Accreditation standards are not uniform in Europe. Some countries have legal requirements for
accreditation (e.g. most German states), in some there is a legal requirement only for universities
of a certain type (e.g. Austria), and others have no accreditation law at all. Even where there is
no legal requirement, many business schools are accredited by independent bodies voluntarily to
ensure quality standards.

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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 Masters in Business and Management (MBM) 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.

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January 1998 saw the first meeting of the "Association of the Czech MBA Schools" (CAMBAS).
The Association is housed within the Centre for Doctoral and Managerial Studies of UEP,
Prague. All of the founding members of the Association have their MBA programmes accredited
by partner institutions in Great Britain or in United States of America.

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Germany was one of the last western countries to adopt the MBA degree. In 1998, the
am m
   (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.
Most German states require that MBA degrees have to be accredited by one of the six agencies
officially recognized by the German    
  (accreditation council), the German
counterpart to the US-American CHEA. The busiest of these six agencies (in respect to MBA
degrees) is the Foundation for International Business Administration Accreditation (FIBAA). All
universities themselves have to be institutionally accredited by the state (  m ).

In Austria, MBA programs of private universities have to be accredited by the Austrian


Accreditation Council (   m m    
 ). State-run universities have no
accreditation requirements, however, some of them voluntarily undergo accreditation procedures
by independent bodies. There are also MBA programs of non-academic business schools, who
are entitled by the Austrian government to offer these programs until 2010 ( 

     ). Some non-academic institutions cooperate with state-run universities


to ensure legality of their degrees.

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In France and in the Francophone countries such as Switzerland, Monaco, Belgium, and Canada
(Quebec), the MBA degree programs at the public accredited schools are similar to those offered
in the Anglo-Saxon countries. Most French Business Schools are accredited by the Conférence
des Grandes Écoles, which is an association of higher educational establishments outside the
mainstream framework of the public universities system, with selective admission. English is the
main learning language but French language may also be necessary for admission at some
schools.

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Italian MBAs programs at public accredited schools are similar to those offered in the anglo-
Saxon countries. Best Italian Business Schools are accredited by Equis and by Asfor

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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.

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Today, MBA and Doctor of Business Administration (DBA) designations can be found in many
countries 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.

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In Australia, 42 Australian business schools offer the MBA degree. Universities differentiate
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 specifies its own requirements, which normally entails several years
of management-level work experience as well as proven academic skills.

Ratings for Australian MBAs are carried out by the Graduate Management Association of
Australia, which publishes an annual Australian MBA Star Ratings.

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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.

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Business schools of the traditional universities run a variety of MBA programs. In addition,
foreign accredited institutions offer MBA degrees by distance learning in Ghana.

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There are 1600 business schools in India offering two year MBA programs targeting
predominantly fresh graduates without any work experience. Among those schools, the Indian
Institutes of Management (IIM) are the oldest institutions for management education in India.
Admission to any of the IIM schools requires passing the Common Admission Test, which also
qualifies candidates for entrance into other institutions in India. The IIM offers a post-graduate
diploma in management which is recognized in India as similar to an MBA degree. Non-
government accredited, one-year fast-track MBA programs have grown in India, especially for
candidates with work experience. Such programs are commonly known as Post Graduate
Programme (PGP) in Business Management. Some schools in India have a one-year curriculum.
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International MBA programs are acquiring brand value in Asia. For example, while a foreign
MBA is still preferred in the Philippines, many students are now studying at one of many
"Global MBA" English language programs being offered. English-only MBA programs are also
offered in Hong Kong, Japan, Malaysia, Pakistan, Singapore, South Korea, Taiwan, and
Thailand. For North American students who want a different experience, many Asian programs
offer scholarships and discounted tuition, to encourage an international environment in the
classroom.

Rankings have been done for Asia Pacific schools by the magazine Asia Inc. which is a regional
business magazine with distribution wolrdwide. The importance of MBA education in China has
risen, too.[7]

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Each year, well-known business publications such as ×  ! " , 


 !,
# 
, # m  $  , and the ! × %
 publish rankings of selected MBA
programs that, while controversial in their methodology, nevertheless can directly influence the
prestige of schools that achieve high scores.

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 
 !, which devotes a biennial issue to ranking MBA
programs. # m  $  , $&m , #  magazine, $! × %
 , and '×'
  ! "  also publish MBA program rankings. See the External links section below
to view some of these rankings.

Different methods of varying validity were used to arrive at rankings of MBA programs. The
(
" , for example, did not disclose criteria or ranking methods,[8] 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.[9] In 1977
$  "  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   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 ranking of MBA programs has been discussed in articles and on academic Web sites.[10]
Critics of ranking methodologies maintain that any published rankings should be viewed with
caution for the following reasons:[11]

Y Rankings limit the population size to a small number of MBA programs and ignore the
majority of schools, many with excellent offerings.
Y The ranking methods may be subject to biases and statistically flawed methodologies
(especially for methods relying on subjective interviews of hiring managers).
Y 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 17 in another list.
Y 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).
Y A high rank in a national publication tends to become a self-fulfilling prophecy.
Y Some leading business schools including Harvard, INSEAD and Wharton provide limited
cooperation with certain ranking publications due to their perception that rankings are
misused.[12]

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.[11] The study concluded that a truly objective ranking would be individualized to
the needs of each prospective student.[13] 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.

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Y Wikiversity:Master of Business Administration, MBA Curriculum


Y Graduate Management Admission Test (GMAT)
Y Business school, for a more comprehensive understanding of business programs
Y Category: Business schools
Y Business school rankings
Y Australian MBA Star Ratings

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Y Certified Business Manager (CBM), a professional credential based on the MBA
curriculum
Y Certified MBA (CMBA) a professional certification designed as an "objective measure of
a student's grasp of the MBA skill set".

  

Y Bachelor of Accountancy, a specialised accountancy degree


Y Bachelor of Business
Y Bachelor of Business Administration (BBA), a bachelor degree in business
administration
Y Bachelor of Business Science
Y Bachelor of Commerce (BComm or BCom), an undergraduate degree in commerce
Y Bachelor of Public Administration (BPA), an undergraduate degree in public
administration


 

Y Master of Accountancy (MAcc or MAcy, or Master of Professional Accountancy²


MPA), a postgraduate degree in accounting
Y Masters in Business and Management (MBM), a postgraduate business degree
Y Master of Commerce (M.Comm.), a postgraduate business degree usually focused on an
particular area
Y Master of Enterprise (MEnt), a postgraduate, technology & enterprise-based qualification
Y Master of Finance (MFin), a postgraduate degree in finance
Y Master of International Business (MIB), an emerging alternative to the MBA degree
Y Master of Management (MM), a postgraduate business degree
Y Master of Science in Management, a postgraduate business degree
Y Master of Marketing Research (MMR) a postgraduate degree focusing on research in the
field of marketing
Y Master of Nonprofit Organizations (MNO or MNPO), the postgraduate degree for
philanthropy and voluntary sector professionals
Y Master of Public Administration (MPA), a postgraduate public administration degree
Y Master in Sustainable Business (MSB).

,
 

Y Doctor of Business Administration (DBA), a doctorate in business administration


Y PhD in Management (PhD), a business doctoral degree

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Y Association to Advance Collegiate Schools of Business (AACSB)


Y Association of Collegiate Business Schools and Programs (ACBSP)
Y Association of MBAs (AMBA)
Y International Assembly for Collegiate Business Education (IACBE)
Y

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