Master of Business Administration

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 MBA degree has since achieved worldwide recognition.
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.Each year, well-known business publications such as Business Week, US News & World Report, Fortune, Financial Times, 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.

Basic types of MBA programs
Two year MBA programs normally take place over two academic years (i.e. approximately 18 months of term time), 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. 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 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.

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. 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.

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.

Breadth
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, project management, government policy, and ethics. 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.

Specialization
Many programs allow students to specialize or concentrate in a particular area. Standard concentrations include 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, and operations management. 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.

The MBA degree in Europe
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), 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.

The MBA degree in 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.

South Africa
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.

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.

India
There are 1600 business schools in India offering two year MBA programs; predominantly targeting fresh students without any experience. Among those schools, the Indian Institutes of Management(IIM) are the oldest institutions for management education in India. Gaining admission to any of the IIM schools requires passing the Common Admission Test. The institute 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.

Rest of Asia
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, Iran, Malaysia, 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.