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 core courses in the MBA program are designed to introduce students to the various areas of business such as accounting, marketing, human resources, operations management, etc. Students in some MBA programs have the option to select an area of concentration and focus approximately one-third of their studies in this subject.
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.
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 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, followed in 1951 with the degree awarded by the University of Pretoria in South Africa.
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.
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, passed them out to students together with floppy disks and collected them at the end of class. A year later, the school issued a laptop computer to each student as the student's personal property during registration. This ensured that each student had the same computer capability. Eventually, the Crummer School became the #1 rated MBA program in Florida.
The Indian Institute of Social Welfare & Business Management (IISWBM) is a graduate business school in Kolkata, India. It is the first institute in India to offer an MBA degree of any Indian university (as XLRI, the oldest management institute in India, did not offer MBA degrees ever since its inception). It was established in 1953.
ReplyDeleteIISWBM was set up in collaboration with the Government of West Bengal, the University of Calcutta and the business community of West Bengal to promote management education. The University of Calcutta affiliated the MBA program of the institute for 50 years. The affiliation, which was supposed to end in 2003 is still renewed on a year by year basis by the university.
The institute celebrated its Golden Jubilee in 2003 and the Government of India released a commemorative stamp on IISWBM to celebrate the event. Till date, no other management institute in India so far has been accorded this honour.
The first Director of this institute was Dr.SN.Ray.
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