Master of Business Administration
From Wikipedia, the free encyclopedia
Contents [hide]
1 Background
1.1 Accreditation
1.2 Basic types of MBA programs
2 Admissions criteria
3 Program content
4 The MBA degree in Europe
4.1 History of the MBA in Europe
4.2 Bologna Accord
4.3 Accreditation
4.4 Austria
4.5 Czech Republic
4.6 France and French speaking countries
4.7 Germany
4.8 Italy
4.9 Poland
4.10 Ukraine
4.11 United Kingdom
5 The MBA degree in Australia, Africa and Asia
5.1 Australia
5.2 South Africa
5.3 Ghana
5.4 India
5.5 Other Asian countries
6 MBA program rankings
7 MBA degree and current events
8 See also
8.1 General information
8.2 Other business degrees and certifications
8.3 MBA accreditation agencies
9 References
10 External links
10.1 MBA ranking resources
11 Related information
"MBA" redirects here. For other uses, see MBA (disambiguation).
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.
[edit]Background
The Wharton School of Business, part of the University of Pennsylvania, was the first business school in the world. 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,[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.[citation needed]
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 MBA degree has been adopted by universities worldwide, and has been adopted and adapted by both developed and developing countries.[3]
[edit]Accreditation
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 universities and 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 themselves accredited 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. 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), Higher Learning Commission of the North Central Association of Colleges and Schools (HLC), 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, government accreditation bodies such as the All India Council for Technical Education (AICTE) that accredits MBA and PGDM programs across India, 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.
[edit]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.
Executive MBA (EMBA) 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 — 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.
Distance learning 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 schools offer these programs.
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.
[edit]Admissions criteria
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. The Graduate Record Examination (GRE) is also accepted by some schools in lieu of the GMAT.[7] 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.
Depending on the program, type and length of work experience is also a critical admissions component for many MBA programs. Many American programs require five or more years for admission.[8][9]
[edit]Program content
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. MBA programs expose students to a variety of subjects, which students may choose to specialize in a particular area. 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. Typical specializations include: accounting; economics; Entrepreneurship; finance; international business; operations management; organizational behavior; marketing; real estate; and strategy, among others.
[edit]The MBA degree in Europe
[edit]History of the MBA in Europe
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. Because of technology advances, distance or online MBA programs have recently emerged in Europe. Several business schools in the United Kingdom now offer distance MBA programs. In 2007, ESCEM became the first French Business school to offer their own distance or online MBA. See List of business schools in Europe
[edit]Bologna Accord
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 (an additional three or four years after a Masters). 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 MBA is, therefore, equivalent to the American MBA. Nonetheless, European MBAs have additional scientific content; for example, European MBAs generally requires writing and defending a master's thesis.
[edit]Accreditation
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.
[edit]Austria
In Austria, MBA programs of private universities have to be accredited by the Austrian Accreditation Council (Österreichischer Akkreditierungsrat). 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 (Lehrgang universitären Charakters). Some non-academic institutions cooperate with state-run universities to ensure legality of their degrees.
[edit]Czech Republic
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 programs accredited by partner institutions in the United Kingdom or United States of America.
[edit]France and French speaking countries
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 education system.
[edit]Germany
Germany was one of the last western countries to adopt the MBA degree. In 1998, the Hochschulrahmengesetz (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 Akkreditierungsrat (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 (staatlich anerkannt).
[edit]Italy
Italian MBAs programs at public accredited schools are similar to those offered elsewhere in Europe. Italian Business Schools are accredited by EQUIS and by ASFOR.
[edit]Poland
There are several MBA programs offered in Poland. Some of these are run as partnerships with American or Canadian Universities. For example, the CEMBA program is run by the Warsaw School of Economics and the University of Quebec at Montreal.
[edit]Ukraine
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 of European schools of business, while the remaining institutions are independent.
[edit]United Kingdom
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.
[edit]The MBA degree in Australia, Africa and Asia
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.
[edit]Australia
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. See List of business schools in Australia.
[edit]South Africa
See also: League tables of South African business schools
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. See List of business schools in South Africa.
[edit]Ghana
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.
[edit]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 good 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 Common Admission Test (CAT), however other business schools requires passing either CAT, XAT, GMAT, JMET or MAT each of which qualifies candidates for entrance into any management institutions in India, apart from these entrance tests there are few business schools which conducts aptitude test individually which qualifies candidates for that particular business school. The IIM and other autonomous business schools offer a post-graduate diploma in management (PGDM) or Post Graduate Programme in Management (PGPM) which is recognized in India as similar to an MBA degree. Government accreditation bodies such as AICTE established that autonomous business schools can offer only the PGDM or PGPM, whereas a post-graduate degree can be awarded by a university-affiliated colleges, in two-year full-time program. The curriculum of the PGDM or PGPM and MBA degrees are equivalent, although the MBA degree is examination oriented and concentrates on theoretical aspects of management whereas the PGDM or PGPM is industry-oriented and mainly focuses on building soft skills. However, a PGDM or PGPM holder cannot pursue Ph.D. since it is not recognized. 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 (PGP) in Business Management. See List of business schools in India.
[edit]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, Japan, Malaysia, Pakistan (Universities in Karachi, Islamabad, Lahore, Rawalpindi, Bahawalpur, Multan, Bahawalnagar, and Abbasia, run the only world recognised MBA programs, in Pakistan), 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.[10] See List of business schools in Asia.
[edit]MBA program rankings
See also: List of United States business school rankings and Australian MBA Star Ratings
Each year, well-known business publications such as US News & World Report, Business Week, Financial Times, The Economist, and the Wall Street Journal 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 Business Week, which devotes a biennial issue to ranking MBA programs.
Different methods of varying validity were used to arrive at rankings of MBA programs. The Gourman Report, for example, did not disclose criteria or ranking methods,[11] 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.[12] In 1977 The Carter Report 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 MBA Magazine 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.[13] Critics of ranking methodologies maintain that any published rankings should be viewed with caution for the following reasons:[14]
Rankings limit the population size to a small number of MBA programs and ignore the majority of schools, many with excellent offerings.
The ranking methods may be subject to biases and statistically flawed methodologies (especially for methods relying on subjective interviews of hiring managers).
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.
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).
A high rank in a national publication tends to become a self-fulfilling prophecy.
Some leading business schools including Harvard, INSEAD and Wharton provide limited cooperation with certain ranking publications due to their perception that rankings are misused.[15]
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.[14] The study concluded that a truly objective ranking would be individualized to the needs of each prospective student.[16] 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.
[edit]MBA degree and current events
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.[17] As the field of Finance is tightly linked to the global economic downturn, anecdotal evidence suggests new graduates are stepping onto alternate paths.[18]
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.[19] Articles about public perception related to the crisis range from schools' acknowledgment of issues related to the training students receive[17][19] to general overviews of the MBA's role in society.[20]
[edit]See also
[edit]General information
Wikiversity:Master of Business Administration, MBA Curriculum
Graduate Management Admission Test (GMAT)
Business school, for a more comprehensive understanding of business programs
Category: Business schools
Business school rankings
Australian MBA Star Ratings
[edit]Other business degrees and certifications
Certifications
Certified Business Manager (CBM), a professional credential based on the MBA curriculum
Certified MBA (CMBA) a professional certification designed as an "objective measure of a student's grasp of the MBA skill set".
Undergraduate
Bachelor of Accountancy (BAcc or BAcy), a specialised accountancy degree
Bachelor of Business
Bachelor of Business Administration (BBA), a bachelor's degree in business administration
Bachelor of Business Science
Bachelor of Commerce and Administration (BCA) / Bachelor of Commerce (BComm), an undergraduate degree in commerce
Bachelor of Public Administration (BPA), an undergraduate degree in public administration
Bachelor of Science in Business Administration (BSBA)
Graduate
Master of Information Technology Management (MITM) / a postgraduate degree in IT belongin to Management Science
Master of Accountancy (MAcc or MAcy) / Master of Professional Accountancy (MPA), a postgraduate degree in accounting
Masters in Business and Management (MBM), a postgraduate business degree
Master of Commerce (M.Comm.), a postgraduate business degree usually focused on an particular area
Master of Enterprise (MEnt), a postgraduate, technology & enterprise-based qualification
Master of Bioscience Enterprise (MBioEnt), a postgraduate degree focussed on the commercialisation of biotechnology
Master of Finance (MFin), a postgraduate degree in finance
Master of International Business (MIB), an emerging alternative to the MBA degree
Master of Management (MM), a postgraduate business degree
Master of Science in Financial Services (MSFS), a postgraduate degree in financial planning and investments
Master of Science in Management, a postgraduate business degree
Master of Marketing Research (MMR) a postgraduate degree focusing on research in the field of marketing
Master of Nonprofit Organizations (MNO or MNPO), the postgraduate degree for philanthropy and voluntary sector professionals
Master of Public Administration (MPA), a postgraduate public administration degree
Masters of Management: Co-operatives and Credit Unions, a post-graduate degree for co-operative and credit union managers
Master in Sustainable Business (MSB)
Master of Real Estate (MScRE), a postgraduate degree focusing on real estate.
Executive
Executive Master of Business Administration (EMBA), a postgraduate degree for managers and executives.
Executive Master of Science in Business Administration (Executive MScBA), a postgraduate degree focusing advanced-level conceptual foundation in a student’s chosen field such as operational excellence in the biotech/pharma industry.
Executive Master of Science in Marketing (EMSM), a postgraduate degree focusing senior-level marketing, international market consulting, brand and product management.
Doctoral
Doctor of Business Administration (DBA), a doctorate in business administration
Doctor of Management (D.M.)
PhD in Management (PhD), a business doctoral degree
[edit]MBA accreditation agencies
Association to Advance Collegiate Schools of Business (AACSB)
Association of Collegiate Business Schools and Programs (ACBSP)
All India Council for Technical Education (AICTE)
Association of MBAs (AMBA)
European Quality Improvement System (EQUIS)
International Assembly for Collegiate Business Education (IACBE)
[edit]References
^ Richard Ivey School of Business page showing awarding of first MBA in 1950, one year ahead of the University of Pretoria's claim
^ University of Pretoria page claiming to have awarded the first MBA outside of America
^ McIntyre, John R. and Ilan Alon, eds. (2005), Business and Management Education in Transitioning and Developing Countries: A Handbook, Armonk, NY: ME Sharpe.
^ Differences in MBA accrediting bodies
^ Programmatic Accrediting Organizations 2008-2009
^ Koenig, Ann; Lofstad, Rolf (2004-09-18). "Higher Education Accreditation in the United States" (PDF). EAIE Conference.
^ Ward, Barabara (31 July 2009). "GRE: Wharton joins the club". MBA Channel.
^ MBAapplicant.com (31 July 2009). "Number 5 - YOUR WORK EXPERIENCE:". MBA Applicant.com.
^ SMU Cox (19 January 2010). "Part Time MBA Programs - Side By Side Comparison". SMU Cox School of Business.
^ Alon, Ilan and John R. McIntyre, eds. (2005), Business and Management Education in China: Transition, Pedagogy and Training, Singapore: World Scientific.
^ Selingo, Jeffrey. A Self-Published College Guide Goes Big-Time, and Educators Cry Foul. Chronicle of Higher Education (1997-11-07).
^ Bedeian, Arthur G. Caveat Emptor: The Gourman Report. The Industrial-Organizational Psychologist (June 2002).
^ "Caution and Controversy". University of Illinois at Urbana-Champaign. Retrieved 2005-09-06.
^ a b Schatz, Martin; Crummer, Roy E. (1993). "What's Wrong with MBA Ranking Surveys?". Management Research News 16 (7): 15–18. doi:10.1108/eb028322.
^ Hemel, Daniel J (2004-04-12). "HBS Blocks Media Access to Students". The Harvard Crimson. Retrieved 2008-01-29.
^ The Official MBA Guide uses this approach, allowing researchers to rank a large population of MBA programs based on a range of criteria and combinations.
^ a b Holland, Kelley (14 March 2009). "Is It Time to Retrain B-Schools?". The New York Times.
^ Stossel, John (19 June 2009). "The New Normal". 20/20 (ABC News).
^ a b Bradshaw, Della (18 June 2009). "Deans fight crisis fires with MBA overhaul". Financial Times.
^ Stewart, Matthew (25 March 2009). Stewart "RIP, MBA". Slate.
[edit]External links
Business of administration links at the Open Directory Project
MBA: Mostly Bloody Awful, A Story on the Emergence of the MBA at ABC Radio National
[edit]MBA ranking resources
TopMBA
Association of MBAs
Compilation of business school rankings between The Wall Street Journal, BusinessWeek, and U.S. News & World Report
Financial Times online rankings of MBA programs
MBA Ranking
The Economist online rankings of MBA programs
Beyond Grey Pinstripes alternative business school rankings based on social and environmental curricula and research
Top 40 MBA program rankings from the Official MBA Guide public database of MBA programs
MBA.co.za South African MBA programs
Whitefield Consulting Worldwide Rankings online rankings of MBA programs
Top 50 MBA programs as determined by the United Kingdom government (not in rank order)
Ranking Web of Business and MBA Schools of the World
Indian Institutes of Management
From Wikipedia, the free encyclopedia
Location of the IIMs : In red the existing ones, and in green the new IIMs commencing from session 2010 in temporary campuses
The
Indian Institutes of Management (
IIMs), are
graduate business schools in
India that also conduct research and provide consultancy services in the field of management to various sectors of the
Indian economy. They were created by the
Indian Government[1] with the aim of identifying the brightest intellectual talent
[1] available in the student community of India and training it in the best management techniques available in the world, to ultimately create a pool of elite managers to manage and lead the various sections of the Indian economy. IIMs play a leadership role in the nation's managerial manpower development and carry out research in emerging areas.
[1] These Institutes are recognized as premier management institutions, comparable to the best in the world for teaching, research and interaction with industries. IIMs have shared knowledge and skills with other institutions to improve their quality and standards in management education. IIMs have earned an international reputation for the quality of their alumni.
The IIMs are considered the top business schools in India.
[2] All the IIMs are completely autonomous institutes owned and financed by the Central
Government of India. In order of establishment, the IIMs are located at
Calcutta (
Kolkata),
Ahmedabad,
Bangalore,
Lucknow,
Kozhikode (Calicut),
Indore, and
Shillong. They offer post-graduate courses in management (equivalent to an
MBA), fellowship programmes in management (equivalent to
PhD), executive MBA and industry based programmes. IIMs actively carry out research and consultancy for the industry, including the needs of non-corporate and under-managed sectors such as agriculture, rural development, public systems management, energy, health education, habitat, etc. The IIMs also offer various other management training programs as well as part-time MBA programmes for various organisations and individuals.
[edit]IIM Calcutta
Indian Institute of Management Calcutta was the first Indian Institute of Management to be set up. It was established as the first national institute for post-graduate studies and research in management by the
Government of India in November 1961, in collaboration with
MIT Sloan School of Management,
Government of West Bengal,
Ford Foundation and the Indian industry
[3]. IIM Calcutta is a fully autonomous institution and offers several Post Graduate and Doctoral programmes, as well as a bouquet of
Executive training programmes. In addition to its main academic programmes, IIM-C is also engaged in Research, Consultancy, seminars, academic conferences and research publications. The vision of IIM Calcutta is "
to emerge as an International Centre of Excellence in all facets of Management Education, rooted in Indian ethos and societal values"
[4]. IIM-C is especially renowned for its finance-related courses, and is widely considered to be the best B-school in India and one of the best in the world for finance
[5][6][7].
The main academic programmes offered by IIM Calcutta are:-
- Post Graduate Diploma in Management (PGDM) - Two-year, full-time MBA programme
- Post Graduate Diploma in Computer aided Management (PGDCM) - Two-year, full-time MBA programme
- Fellow Programme in Management (FPM) - Doctoral programme
- Post Graduate Programme for Executives (PGPEX) - One-year, full-time Executive MBA programme[8] [9]
- Post Graduate Programme for Executives for Visionary Leadership in Manufacturing (PGPEX-VLM) - One-year, full-time Executive MBA programme
In addition to the above, IIM-C offers other programmes like:-
[edit]IIM Ahmedabad
Indian Institute of Management Ahmedabad
Indian Institute of Management Ahmedabad was established in 1961 as an autonomous institution by the Government of India in collaboration with the Government of Gujarat and the Indian industry and is the second IIM after
IIM Calcutta. Noted scientist
Vikram Sarabhai and other Ahmedabad-based industrialists played a major role in the creation of the institute and today it is considered the best B-School across the country.
[15] The institute had collaboration with
Harvard Business School during initial period. It was registered as a society with a Board of Governors to oversee the functioning of the Institute. Its mission is to professionalize Indian management through teaching, research, training, institution building and consulting. Its programs are accredited by
EQUIS (European Quality Improvement System), one of the leading international accreditation bodies for International business schools, thus becoming one of the few Indian B-schools to receive this honor. IIM Ahmedabad aims to professionalize some of the vital sectors of India's economy such as agriculture, education, health, transportation, population control, energy, and public administration. The institute is considered to be the toughest business school in the world to get into by the Economist. Each year over 500 students apply for every MBA seat.
[16].
IIM Ahmedabad has an exchange program with the global business schools. The partner exchange institutes include
Solvay Brussels School of Economics and Management,
Stern School of Business(NY, USA),
Columbia Business School (NY, USA),
University of Chicago Booth School of Business, Chicago (USA), Olin Business School, Washington University,
UCLA Anderson School of Management (USA),
Schulich School of Business, York University, (Toronto, Canada),
ESSEC (Cergy, France),
WHU-Otto Beisheim School of Management (Vallendar, Germany) and
HEC School of Management (Paris, France).
[17][edit]IIM Bangalore
Indian Institute of Management Bangalore
Indian Institute of Management Bangalore was established in 1973 following the success of IIM Calcutta and IIM Ahmedabad and demand for more such institutes.
[18] Today, IIMB is recognized as one of the Top 100 management schools in the world - An institute with international standards of post-graduate and doctoral level of teaching, executive education for senior and middle management and research and consulting. It is the most internationally oriented management school in the country. IIMB is strategically located in
Bangalore, the center of the fastest growing industrial region in the country.
The main academic programmes offered by IIM Bangalore are:-
- Post Graduate Programme in Management (PGP) - Flagship Two-year, full-time MBA programme
- Post Graduate Programme in Software Enterprise Management (PGSEM) - Three-year, Part-time MBA programme [19]
- Fellow Programme in Management (FPM) - Doctoral programme
- Post Graduate Programme in Public Policy and Management [20]
- One-year full time Executive Post Graduate Program (EPGP) for candidates with substantial work experience [21]
The institute is ranked highly among the leading B-schools in Asia and admissions are extremely competitive, with applicant acceptance for post-graduate programme as low as 0.2%.
[22]For two consecutive years, IIMB has been ranked as #1 Business School in Central Asia and South Asia (2008 & 2009)with major international influence.
[23]IIM Bangalore recently obtained the European Quality Improvement System (
EQUIS) accreditation.
IIMB runs a student exchange programmes with partner schools which include
UCLA Anderson School of Management,
WHU-Otto Beisheim School of Management,
London Business School,
GSB, University of Chicago, Illinios,
The Fuqua School of Business,
Stern School of Business, New York,
ESSEC Business School, France,
ESADE, Spain,
Nanyang Business School, Singapore,
Korea University Business School, South Korea,
Stockholm School of Economics, Sweden among others. IIMB is also part of the
LAOTSE network of leading European and Asian universities.
[edit]IIM Lucknow
Breakout area outside the PGP Block, IIM Lucknow
The Indian Institute of Management Lucknow (also referred to as IIM Lucknow or IIML), was established in 1984, by the Government of India, as a national level school of excellence in management science. It was the fourth Indian Institute of Management to be established in India after IIM Calcutta, IIM Ahmedabad, and IIM Bangalore. It is situated at the outskirts of the historic and culturally rich city of Lucknow.
IIM Lucknow is the first and so far the only IIM to open a satellite campus. Located at
NOIDA, the campus was started in 2007 and focuses exclusively on executive management programmes. The campus offers part-time programmes for working managers and professionals and residential programme for executives. The objective of these programmes is to combine the students experience with strategical and conceptual ideas in respect with current business practices. IIML takes pride in positioning itself as the IIM with the most experienced batch of students, the average experience of the incoming batch of 2010 is the highest amongst other IIMs, thus enriching the peer learning experience.
[24][edit]IIM Kozhikode
The
Indian Institute of Management Kozhikode, was established as the 5th IIM in the country in 1996 by the Government of
India in collaboration with the
Government of Kerala. The institute is located at Kunnamangalam,
Kozhikode, in state of
Kerala. The picturesque campus is spread over two hills which are part of the foothills of the Western Ghats.
Apart from post-graduate and doctoral programmes, IIM Kozhikode conducts regular workshops for managers and management faculties. In 2001, IIM Kozhikode started Interactive Distance Learning (IDL), with introduction of Executive Management Education Program (eMEP). It was the first institute in Asia to offer a distance learning programme in management for working executives.
[25] The institute has further introduced specialised modules for this course.
[26] IIMK is also actively involved in research project sponsored in house and by external agencies. It has set a centre for research in Indian global competitiveness and
WTO system.
[27]IIMK runs an incubation center called Centre of Excellence (CEx), where youth from marginalized sections of society, such as the
scheduled castes and
scheduled tribes, are imparted training to make them intellectually and emotionally capable of joining reputed companies and educational institutions. The skills taught also make them capable of clearing entrance exams of various educational institutions.
[29][edit]IIM Indore
Academic block, IIM Indore
Indian Institute of Management Indore was set up in 1998 and is sixth of the IIMs. The campus of IIM Indore is sprawled over the area of 193 acre (781,000 m²), located near the central Indian city of
Indore.
Apart from its post-graduate programme, IIM Indore undertakes both residential and short term courses for working professionals. The flagship program of IIM Indore is its 2 year fully residential Post Graduate Programme in Management (PGP). One of the unique features of the PGP programme in IIM Indore is its focus on Social Concern. In this regard, participants take up a mandatory course called Society, Business and Management.
In addition to the regular management programmes, the institute offers a unique course in Business Management for the
armed forces officers, designed particularly for mid-level defence officers.
[30][31]The international student exchange program is undertaken to ensure that the students are exposed to the latest trends in management across the business schools of the world. The institute had its first student exchange of six students with
École de management de Lyon, a premier business school based in Lyon, France in 2005.
[32] The exchange program has advanced rapidly and the institute currently has exchange programs with business schools in France, Germany, China, New Zealand and the United States with several others on the anvil.
[33][edit]IIM Shillong
IIM Shillong Institute Building
The Government of India, in a decision
[34] taken by the Union (Federal) Cabinet of Ministers, decided to approve the opening of a seventh IIM in 2005
[35] at Shillong, the capital of the north-eastern state of Meghalaya. The Institute is named as Rajiv Gandhi Indian Institute of Management, Shillong. The foundation stone of the institute was laid by Shri Arjun Singh, HRD Minister on December 1, 2007
[36] and was formally inaugurated by Dr Donkupar Roy The Chief Minister Of Meghalaya on 4 July 2008.This new IIM started it operations in year 2008 and with admissions through CAT 2007.
A temporary campus has been set up at the Mayurbhanj complex (the erstwhile summer palace of Mayurbhanj Kings) of the North Eastern Hill University for the new IIM. A sprawling permanent campus will come in the new Shillong township later. It is the first management institute of India to have a fully functional ERP setup.
It is one of its kind Business school in India, where each aspect of Management is studied from environmental and social perspective.IIM Shillong currently offers the two-year Post Graduate Programme in Management (PGP) and in the future will offer other courses like the Fellow Program in Management (FPM). In addition, the Institute offers Management Development Programmes (MDPs), Research and Consultancy. In addition institute runs an Accelerated Learning Center (ALC) which conduct short term certificate courses.
The first of its kind golf tournament for B schools in India was organized by IIM, Shillong. The tournament had a unique concept of bringing the corporate leaders and the budding managers together. The budding managers of B schools got an opportunity to compete with the top leaders of India inc. The internships for its maiden batch of PGP students saw 100% placements even under the economic downturn.
[37][edit]IIM Ranchi
IIM Ranchi has launched its PGPM programme and shall be commencing its first session from June-July 2010. IIM Calcutta shall be its mentor in its initial years
[38], which will include 60 seats allocated by CAT 2009. The fee structure shall be lower than the existing IIMs: only 3 lakhs per year.
[edit]IIM Rohtak
IIM Rohtak has launched its PGPM programme and shall be commencing its first session from June-July 2010. IIM Lucknow shall be its mentor in its initial years
[39]. The fee structure shall be lower than the existing IIMs: only 3 lakhs per year.
[edit]Future IIMs
In year 2005 leading alumni of various IIMs founded alumni organizations in various parts of the world. One of the stated objectives of these alumni associations is to
form a dynamic community of leaders and thinkers who make a difference across the world[42].
In year 2007 various alumni chapters of IIMs globally decided to form a Global IIM Alumni Society. This society will network existing alumni chapters and provide a common platform to link all. It will also organize global management events, publish books, contribute back to the parent institutions, network alumni via a shared intranet and extranet etc."
[43][edit]Admission process
The
CAT (Common Admission Test) conducted by the IIMs is a very competitive test conducted for admission to around 2000 seats of graduate programs in management at the seven campuses, and is usually considered one of the most competitive exams in the world
[44], with a supposed success rate of about one in two hundred
[45]. Each institute conducts group discussions and personal interviews to evaluate the students shortlisted after the test.
On 1 May 2009, it was announced that from CAT 2009 would be a
Computer Based Test. The contract for conducting computer based CAT was awarded to Prometric - the company that conducts GMAT.
[edit]CAT 2009
The first ever computer based CAT conducted by Prometric during 28'th nov-7'th dec created a lot news, mostly for the wrong reasons. On the one hand, technical glitches attributed to hardware problems and virus attacks made sure that around 8,000 students were not able to appear in CAT in their allotted slots, on the other hand a lot of controversy around depreciated standards, repeated questions and different difficulty level for different slots ensured that people started demanding to have a paper based retest.
CAT organizing committee didn't agree to this demand and instead allotted extra slots on 8'th dec and later on 30'th and 31'st jan for those who couldn't appear in the tests due to glitches. The CAT 2009 exam had 60 questions in all(20 each from Quantitative Aptitude, Data Interpretation and Verbal Ability) making a total of 60 questions and with 3 marks each making a total of 180 marks. However the result showed marks out of 450.
The controversy didn't end here but followed a long delay in declaration of results, which was deferred many a times and finally announced on 28'th feb, with IIM A and IIM S declaring the list of shortlisted candidates while the result website maintains that lists for other IIMs is awaited. While the website mentions that the scores reported are the scaled scores arrived at by establishing psychometric equivalences to adjust for any variation in difficulty levels across the tests, but it lacks any information as in how it is done. Owing to this and other reasons it is likely to attract a plethora of applications filed under RTI.
[edit]Reservations at IIMs
IIM has an
affirmative action policy on caste-based reserved quotas.As per the provisions in the Indian constitution, the IIMs have been reserving seats for
Scheduled Castes of society. The IIMs follow a reservation policy that is notably different from the quota policy elsewhere in India. As per the rules of admission to IIMs, 15% of the admitted students must be of the Scheduled Castes, and 7.5% of seats are reserved for Scheduled Tribes. The Other Backward classes have been provided with 27% reservation in effect from 2008 with the consent of the Supreme Court of India which IIMs would implement in a phased manner during three years. As per the rules, all the Scheduled Caste (SC), Scheduled Tribe (ST) and Other Backward Caste (OBC) candidates must take the
Common Admission Test with the rest of the students. Based on the results of CAT but using relaxed admissions criteria, Candidates are called for nest round of Group Discussion and Personal Interviews. There is no relaxation on the criteria for passing the exams or graduating a course. The candidates admitted through the reservation policy are also subjected to the same criteria as the general candidates for graduation.
[edit]Notable directors and faculty
[edit]See also
[edit]Thanks to : Wikipedia
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