The Master of Business Administration (MBA or M.B.A.) is a master’s degree in business administration (management). The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses.
The MBA is a terminal degree and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs tailored to full-time, part-time, executive, and distance learning students, many with specialized concentrations.
There are many business schools and colleges in India offering two-year MBA or PGDM programs accredited by AICTE or UGC.
The Indian Institutes of Management are among the world’s most selective schools according to Bloomberg magazine. They offer a post graduate diploma in management rather than a degree because of an archaic Indian law which says that only universities can award degrees. There are 19 IIMS in total, 12 of which were established after the year 2010. The oldest 4 IIMs along with the Indian School of Business constitute the top 5 B-Schools of the country according to the website mbaclub.in
A business school is a university-level institution that confers degrees in business administration or management. Such a school can also be known as school of management, school of business, school of business administration, or, colloquially, b-school or biz school. A business school teaches topics such as accounting, administration, strategy, economics, entrepreneurship, finance, human resource management, information systems, logistics, marketing, organizational psychology, organizational behavior, public relations, research methods and real estate among others.
Some business schools center their teaching around the use of case studies (i.e. the case method). Case studies have been used in graduate and undergraduate business education for nearly one hundred years. Business cases are historical descriptions of actual business situations. Typically, information is presented about a business firm’s products, markets, competition, financial structure, sales volumes, management, employees and other factors affecting the firm’s success. The length of a business case study may range from two or three pages to 30 pages, or more.