MBA ? Master of Business Administration
Basic types of MBA programs:
Two-year (Full Time) MBA 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.
Accelerated MBA 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.
Part-time MBA 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.
History:
The first graduate school of business in the United States was the Tuck School of Business, part of Dartmouth College 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 forebear 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 Booth School of Business first offered working professionals the Executive MBA (EMBA) program in 1943, First available in permanent campus in three continents (Chicago, London and Singapore) and this type of program is offered by most business schools today. In 1946, Thunderbird School of Global Management was the first school to offer an MBA program focused on global management. In 1950, the first MBA degrees awarded outside the United States were by the Richard Ivey School of Business at The University of Western Ontario in Canada, Followed in 1951 with the degree awarded by the University of Pretoria in South Africa. In 1955, the Institute of Business Administration, Karachi was established under the University of Karachi in Pakistan, in collaboration with the Wharton School of the University of Pennsylvania and became the first Asian business school to offer an MBA program under the US MBA model In 1957, INSEAD became the first European business school to offer an MBA program. In 1986, the Roy E. Crummer Graduate School of Business at Rollins College (Florida) was the first MBA program to require every student to have a laptop computer in the classroom. Initially, professors wheeled a cart of laptops into the classroom. The MBA degree has been adopted by universities worldwide, and has been adopted and adapted by both developed and developing countries.
History of the MBA in Asia:
Bangladesh
Bangladesh was one of the first countries in Asia to offer MBA degree through Institute of Business Administration, University of Dhaka along with Institute of Business Administration, Karachi in erstwhile Pakistan.
There are now more than 50 business schools in Bangladesh offering MBA; predominantly targeting graduates without any work experience. Most MBAs are two years full time. There is little use of GMAT. The Business Schools conduct their own admission tests instead. The medium of teaching is English in all business schools except National University.
India
There are 1600 business schools in India offering two year MBA programs. The students are a mix of fresh graduates without any work experience and people with significant work experience. Among those schools, the IIM, and XLRI are among the oldest institutions for management education in India. In 1949, the XLRI became the first institute in India to offer certificate courses in human resources management. In 1953, the Indian Institute of Social Welfare and Business Management became the first institute in India to offer an MBA degree of an Indian university. Government accreditation bodies such as AICTE established that autonomous business schools can offer only the PGDM or PGPM, whereas a full post-graduate degree can be awarded only by a university, in two-year full-time program. Non-government accredited, one-year fast-track programs have proliferated in India, especially for candidates with work experience. Such programs are commonly known as Post Graduate Programme for Executives (PGPX or ExPGP) in Business Management. See List of business schools in India. MBA degree courses are offered by private universities established in various states, central universities, state universities as well as deemed universities in India. For distance/correspondence mode to study MBA, the MBA degree through distance education must be recognised by AICTE.
Israel
All public universities are offering a two year MBA program. Some private colleges are offering a one year MBA program for working people who prefer to study at the evening and on Friday(which is a rest day in Israel).
Pakistan
The Institute of Business Administration Karachi was the first institute to offer an MBA program outside the United States, set up in 1955 in collaboration with the Wharton School of the University of Pennsylvania. Now in Pakistan, there are only 87 Universities/Institutes which are recognized by the Higher Education Commission of Pakistan, offering MBA programs to students and professionals.
Sri Lanka
Currently there are few government and private universities conducting MBA programs in Sri Lanka as well. The leading MBA programs are conducted by the University of Colombo and the Postgraduate Institute of Management (PIM).
Other Asian countries
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, Indonesia, Malaysia, Singapore, South Korea, Taiwan, and Thailand. For international 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 worldwide. The importance of MBA education in China has risen, too.
MBA degree and current financial crisis:
The Financial crisis of 2007–2010 has raised new challenges and questions regarding the MBA degree. Graduates of MBA programs have a reported tendency to go into Finance shortly after receiving the degree. As the field of Finance is tightly linked to the global economic downturn, anecdotal evidence suggests new graduates are stepping onto alternate paths.
Deans at top business schools have acknowledged media and public perception of the MBA has shown some shifts as a result of the financial crisis. Articles about public perception related to the crisis range from schools' acknowledgment of issues related to the training students receive to criticisms of the MBA's role in society.
Basic types of MBA programs:
Two-year (Full Time) MBA 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.
Accelerated MBA 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.
Part-time MBA 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.
History:
The first graduate school of business in the United States was the Tuck School of Business, part of Dartmouth College 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 forebear 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 Booth School of Business first offered working professionals the Executive MBA (EMBA) program in 1943, First available in permanent campus in three continents (Chicago, London and Singapore) and this type of program is offered by most business schools today. In 1946, Thunderbird School of Global Management was the first school to offer an MBA program focused on global management. In 1950, the first MBA degrees awarded outside the United States were by the Richard Ivey School of Business at The University of Western Ontario in Canada, Followed in 1951 with the degree awarded by the University of Pretoria in South Africa. In 1955, the Institute of Business Administration, Karachi was established under the University of Karachi in Pakistan, in collaboration with the Wharton School of the University of Pennsylvania and became the first Asian business school to offer an MBA program under the US MBA model In 1957, INSEAD became the first European business school to offer an MBA program. In 1986, the Roy E. Crummer Graduate School of Business at Rollins College (Florida) was the first MBA program to require every student to have a laptop computer in the classroom. Initially, professors wheeled a cart of laptops into the classroom. The MBA degree has been adopted by universities worldwide, and has been adopted and adapted by both developed and developing countries.
History of the MBA in Asia:
Bangladesh
Bangladesh was one of the first countries in Asia to offer MBA degree through Institute of Business Administration, University of Dhaka along with Institute of Business Administration, Karachi in erstwhile Pakistan.
There are now more than 50 business schools in Bangladesh offering MBA; predominantly targeting graduates without any work experience. Most MBAs are two years full time. There is little use of GMAT. The Business Schools conduct their own admission tests instead. The medium of teaching is English in all business schools except National University.
India
There are 1600 business schools in India offering two year MBA programs. The students are a mix of fresh graduates without any work experience and people with significant work experience. Among those schools, the IIM, and XLRI are among the oldest institutions for management education in India. In 1949, the XLRI became the first institute in India to offer certificate courses in human resources management. In 1953, the Indian Institute of Social Welfare and Business Management became the first institute in India to offer an MBA degree of an Indian university. Government accreditation bodies such as AICTE established that autonomous business schools can offer only the PGDM or PGPM, whereas a full post-graduate degree can be awarded only by a university, in two-year full-time program. Non-government accredited, one-year fast-track programs have proliferated in India, especially for candidates with work experience. Such programs are commonly known as Post Graduate Programme for Executives (PGPX or ExPGP) in Business Management. See List of business schools in India. MBA degree courses are offered by private universities established in various states, central universities, state universities as well as deemed universities in India. For distance/correspondence mode to study MBA, the MBA degree through distance education must be recognised by AICTE.
Israel
All public universities are offering a two year MBA program. Some private colleges are offering a one year MBA program for working people who prefer to study at the evening and on Friday(which is a rest day in Israel).
Pakistan
The Institute of Business Administration Karachi was the first institute to offer an MBA program outside the United States, set up in 1955 in collaboration with the Wharton School of the University of Pennsylvania. Now in Pakistan, there are only 87 Universities/Institutes which are recognized by the Higher Education Commission of Pakistan, offering MBA programs to students and professionals.
Sri Lanka
Currently there are few government and private universities conducting MBA programs in Sri Lanka as well. The leading MBA programs are conducted by the University of Colombo and the Postgraduate Institute of Management (PIM).
Other Asian countries
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, Indonesia, Malaysia, Singapore, South Korea, Taiwan, and Thailand. For international 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 worldwide. The importance of MBA education in China has risen, too.
MBA degree and current financial crisis:
The Financial crisis of 2007–2010 has raised new challenges and questions regarding the MBA degree. Graduates of MBA programs have a reported tendency to go into Finance shortly after receiving the degree. As the field of Finance is tightly linked to the global economic downturn, anecdotal evidence suggests new graduates are stepping onto alternate paths.
Deans at top business schools have acknowledged media and public perception of the MBA has shown some shifts as a result of the financial crisis. Articles about public perception related to the crisis range from schools' acknowledgment of issues related to the training students receive to criticisms of the MBA's role in society.
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