What is an MBA?
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 area.
Accreditation bodies (Association of MBAs) 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.
In 1957, INSEAD became the first European university offering the MBA degree. 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.