MBA Degree: THE PAST,THE PRESENT, AND THE FUTURE
While Harvard University was not the first to provide business courses, it is recognized with launching the first business school in the United States that was solely for college graduates. What began as a five-year experiment with 59 students at Harvard University in 1908 has grown into one of the most popular graduate degree program in the United States. During the early part of the twentieth century, however, interest in business graduate degrees rose slowly. In 1910, just 110 MBA degrees were issued, while in 1949, only 4,335 were awarded. While M.S. and M.A. degrees were available in the early twentieth century, by 1950, the MBA had mostly supplanted them.
Table of Content
1.MBA CURRICULUM
2.What is the location of your MBA program?
3.Is your Executive MBA program available online?
4.MBA programe accredition, and the prerequisites for admission?
5.MBA Degree Duration
6.MBA Degree Courses
THE FORMATION OF A CURRICULUM:
The first Harvard University curriculum had three mandatory courses – Principles of Accounting, Commercial Contracts, and Economic Resources of the United States – as well as a selection of options such as Banking and Finance and Railway Accounting. MBA programs used to differ greatly from one institution to the next. In his examination of MBA program curriculum, he discovered thirty unique kinds of courses. Accounting, banking, consular science, corporation finance, international commerce, geography or “resources,” insurance, investment, law, transportation, journalism, and public finance or taxes were the most popular subjects. Government, labour, marketing, organisation, business policy, and production/manufacturing courses were less prevalent at the time.
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Most MBA programs have traditionally required course work comparable to a two-year program, with the first year consisting of basic courses and the second year comprising of advanced courses. Subjects included in an undergraduate business degree have traditionally been included in core courses. Advanced course work (sometimes known as “beyond the core”) has traditionally included larger themes and, when permitted, optional courses.
The AACSB expanded the one-year requirement for core course work at the undergraduate level to 30 hours in 1977. By 1991, AACSB standards for MBA curricula stipulated a minimum of 18 semester credit hours of core course work if taken at the graduate level, and a minimum of 30 semester credit hours beyond the core, with at least 18 hours in subjects outside any area of specialisation if taken at the undergraduate level.
What is the location of your MBA program?
As of autumn 2006, the United States has 833 MBA-granting schools (colleges, universities) providing 923 unique full- and part-time conventional MBA program. Because Executive MBA program have a non-traditional style and curriculum, as well as cater to non-traditional markets, it was chosen to leave them out of this study.
The MBA degree was available in all 50 states and the District of Columbia, with California having the most (74) MBA-granting institutions and Montana having the least. Montana had the fewest MBA degree-granting institutions per capita (1 per 935,670 inhabitants) while the District of Columbia had the most (1 per 935,670 residents) (1 for every 68,815 residents).
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Is your Executive MBA program available online?
172 of the 172 standard MBA program in the United States also provided a distinct Executive MBA program, while 165 offered a complete MBA degree via remote learning. The latter figure excludes about 17 universities that took part in one of three state-wide Internet-based MBA consortiums.
Is your MBA program accredited, and what are the prerequisites for admission?
AACSB certified about 51% of the 833 MBA-granting universities, with the other institutions being accredited by another national or regional body or not accredited at all. The Graduate Management Admission Test (GMAT) was required for admission to 75% of the 923 MBA program accessible in the United States.
The rest of the MBA program either didn’t need the GMAT or made it optional under specific circumstances. All but two of the program provided by AACSB-accredited schools required the GMAT for admission, while around 46% of program at non-AACSB-accredited colleges needed students to take the GMAT.
How long does it take you to complete your MBA?
About 27% of the 886 MBA program with total programme hours available had lengths ranging from 43 to 48 semester credit hours, while 26% had lengths ranging from 49 to 54 semester credit hours. The most common overall programme duration figure was 48 semester hours, while the average for all program was around 53 hours, with a standard deviation of 8.4 and a median of 52 hours.
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What courses will I have to complete in order to graduate?
MBA course material has traditionally been split into two categories: core and beyond the core. Core courses are generally completed at the undergraduate level before to admission (also known as prerequisite courses) or as graduate level courses at the start of the programme. Approximately 74 percent of all MBA program in the United States have a set of core courses or requirements that range from two semester credit hours to four semester credit hours. Some MBA program provided graduate-level courses that combined two or more basic disciplines into one. Management and marketing, financial and managerial accounting, and micro- and macroeconomics were all popular pairings. A small number of program provided non-credit core courses, which did not count to the total needed credit hours stated above.
With an average of 42 credit hours and a standard deviation of 9.2, the least number of semester hours of mandatory (as opposed to optional) MBA courses was 15 and the maximum was 75. Nearly half of all MBA schools needed 37 to 48 semester hours of coursework, while 28% required 25 to 36 hours.
Financial Accounting, Managerial Accounting, Cost Accounting, or some version of these were some of the most common names among compulsory accounting courses. Macroeconomics, Microeconomics, and Managerial Economics were common titles for compulsory economics courses. Corporate Finance, Financial Management, and Investment Management were the most common finance course names.
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Management finance, often known as managerial finance, is a term used to describe a type of management At the basic level, most mandatory marketing courses were titled Principles or Essentials of Marketing, and at the advanced level, Marketing Management or Strategy. Required management courses were given a wide range of titles.
By 2006, the MBA has expanded from one program with 59 students in 1908 to over 923 program with over 146,000 students graduating. The MBA was accessible in all 50 states and the District of Columbia at the time of this study, and it may be taken in regular classrooms, virtual classrooms, or a mix of the two. In the beginning, MBA program included a wide range of curriculum. In comparison to one hundred years ago, there appears to be considerably more uniformity in curricula across MBA schools offered in the United States today. Accounting, marketing, finance, economics, management, and strategy were nearly universally compulsory topics. MBA program, on the other hand, vary greatly in length (needed credit hours).
Only about half of all MBA schools provided specialisations, although mandatory course work made up the majority of the curriculum for the majority of them.
The Masters of Business Administration (MBA) degree has become a mark of distinction in the United States for those pursuing advanced positions in businesses. Few people understand, however, that business as a formal subject of study has only been around for a little over a century, with the first 50 years generating little interest.
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