MBA An MBA degree is one of the most sought after degrees in the world because of its value to people in business and administration.
An MBA is a post graduate degree in business communication. MBA stands for Masters of Business Administration. Is a very popular course for business students the world over. The MBA program is recognized worldwide and is considered as a major step towards a successful business management career.
Global Appeal of MBA
An MBA program strives to equip its students with all the necessary knowledge, theoretical as well as practical, which can benefit them tremendously in managerial and administrative jobs. This does not apply only to business, as is usually understood by most people, but can also benefit people to get into executive positions in the public sector and government jobs as well.
Evolution of the MBA Program
Since its inception in the early 1900s, the MBA program has evolved tremendously and has witnessed the following trends:
- Programs of shorter duration
- MBA courses had always been full time courses, but in the last few years there has been an introduction of many types of MBA programs based on their structure. So now there are part time MBA courses, modular programs, international programs, distance learning programs, and even online MBA programs.
MBA in the United States
The MBA program and degree was developed in the United States and was introduced in the early 1900s. An MBA degree from a leading institution in the US has great value throughout the world and thus there are thousands of students from various countries who come to the US for the sole purpose of pursuing an MBA. An MBA program in the US typically is of two years duration.
Eligibility for MBA
While most schools and educational institutions that offer MBA programs have their respective criteria for getting into an MBA course, the two most significant factors that are common to most schools and MBA courses are age and Experience.
GMAT Score: Having a GMAT score in excess of 600 is essential if you wish to get into the A grade MBA schools: it does better your chances tremendously.
The first graduate school of business in the United States was the Tuck School of Business at Dartmouth College. Founded in 1900, it conferred the first advanced degree in business, specifically, a Master of Science in Commerce, the predecessor to the MBA.
The Harvard Graduate School of Business Administration established the first MBA program in 1908, with 15 faculty members, 33 regular students, and 47 special students.Its first-year curriculum was based on Frederick Winslow Taylor's scientific management.
At the University of Alabama, Lee Bidgood, the first dean of the College of Commerce and Business Administration, launched an undergraduate business program in 1919 and a graduate program in 1924.