For other uses, see The Business School .
A business school is a university-level institution
that confers degrees in business administration
or management . According to Kaplan business
schools are "educational institutions that
specialize in teaching courses and programs
related to business and/or management". [1]
Such a school can also be known as school of
management , 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 , management science,
management information systems, international
business , logistics , marketing , organizational
psychology , organizational behavior, public
relations , research methods and real estate
among others.
Types
There are several forms of business schools,
including a school of business, business
administration, and management.
1. Most of the university business schools
consist of faculties, colleges, or departments
within the university, and predominantly teach
business courses (e.g. Mannheim Business
School ).
2. In North America , a business school is often
understood to be a university program that offers
a graduate Master of Business Administration
degrees and/or undergraduate bachelor's
degrees (e.g. Harvard Business School ).
3. In Europe and Asia, some universities teach
predominantly business courses (e.g.
Copenhagen Business School ).
4. Privately owned business school which is not
affiliated with any university (e.g. WHU-Otto
Beisheim School of Management ).
Kaplan classifies business schools along four
C orners: [2]
1. Culture (Europe - US): Independent of their
actual (physical) location, business schools can
be classified according to whether they follow
the European or the US model.
2. Compass (international/global – regional/
local): Business schools can be classified along
a continuum, with international/ global schools
on one end and regional/ local schools on the
other.
3. Capital (public – private): Business schools
can either be publicly (state) funded or privately
funded, for example through endowments or
tuition fees.
4. Content (teaching – research): Business
school can be classified according to whether a
school considers teaching or research to be its
primary focus.
Notable firsts
ESCP Europe, France, founded in 1819
Budapest Business School , Hungary, the
first public business school founded in
1857
Wharton School , US, founded in 1881
University of St. Gallen , Switzerland,
founded in 1898
Founded in 1907, HEC Montréal is
the oldest School of Management
in Canada.
ESSEC in France and Singapore was the
first business school being AACSB
accredited outside North America in
1997
Haas School of Business , US, founded
in 1898
1759 – The Aula do Comércio in Lisbon was
the first institution to specialise in the
teaching of accounting in the world. [3] It
provided a model for development of similar
government-sponsored schools across
Europe, and closed in 1844. [4] Therefore, the
Aula do Comércio paved the way for business
schools to start. [5]
1819 – The world's first business school,
ESCP Europe was in Paris, France. [6] It is the
oldest business school in the world [7][8] and
now has campuses in Berlin, London , Madrid ,
Paris, Torino , and Warsaw. [9][10]
1855 – The Institut Supérieur de Commerce
d'Anvers (State funded) and the Institut Saint-
Ignace – École Spéciale de Commerce et
d'Industrie (Jesuits education) were founded
in the same year in the city of Antwerp ,
Belgium. [11] After getting university status in
1965 and after almost 150 years of business
education and rivalry between each other, both
merged in 2003 into what became the
University of Antwerp . [12]
1857 – The world's first public business
school, Budapest Business School was
founded in Budapest in Austria-Hungary as
the first business school in Central
Europe. [13]
1868 – The Ca' Foscari University was
founded in Venice . It is the oldest business
school in Italy and one of the oldest in the
world.
1871 – The Rouen Business School which
has merged with Reims Management School
under the name of NEOMA Business
School . [14] Rouen Business School is the
second oldest French business school.
1871 – The ESC Le Havre was created (now
École de management de Normandie ).
Created the same year than Rouen Business
School it is also the second oldest French
business school.
1881 – The Wharton School of the University
of Pennsylvania is the United States' first
business school. [15] HEC Paris (The École
des Hautes Études Commerciales de Paris)
was established by the Paris Chamber of
Commerce (CCIP).
1892 – The ESC Lille in northern France
which has mergered with CERAM Business
School (created in 1963) under the name of
Skema Business School since 2009.
1898 – On the west coast Haas School of
Business is established as the College of
Commerce of the University of California with
Carl Copping Plehn as the Dean in 1898 and
became the first public business school. [16]
[17] The Booth School of Business The
University of Chicago Booth School of
Business also traces its beginnings to 1898
when university faculty member James
Laurence Laughlin chartered the College of
Commerce and Politics. [18]
1898 – Handelshochschule Leipzig , today
Leipzig Graduate School of Management , was
founded as the first Business School in
Germany, so it is the oldest university
teaching economics in German speaking
regions. [19]
1898 – The University of St. Gallen
established the first university in Switzerland
teaching business and economics. [20]
1900 – The first graduate school of business
in the United States, the Tuck School of
Business at Dartmouth College, was
founded. [21] The school conferred the first
advanced degree in business, specifically, a
Master of Science in Commercial Sciences,
the predecessor to the MBA.
1902 – The Birmingham Business School of
University of Birmingham is the United
Kingdom's first business school. Established
as the School of Commerce in Birmingham ,
United Kingdom . [22]
1903 – The Solvay Brussels School of
Economics and Management of Université
Libre de Bruxelles is the Belgium's first
business school created by an entrepreneur
Ernest Solvay, founder of the chemistry
company Solvay.
1906 – The Department of Commerce was
founded as part of McGill University in
Montreal, Quebec, Canada , eventually
developing into the Desautels Faculty of
Management . [23]
1906 – The Warsaw School of Economics
(SGH) was established as the first university
in Poland dedicated to teaching commerce
and economics. [24]
1907 – HEC Montréal is founded in Montreal,
being the first School of Management of its
kind in Canada. It was also the first school in
North America to be awarded the 3 most
prestigious accreditations (AACSB, AMBA,
EQUIS), which less than 70 schools in the
world have achieved.
1907 – ESSEC Business School in Paris ,
which was later the first Business School
outside North America to be accredited by
the AACSB (main and most famous
association to accredit schools of business)
in 1997
1908 – Kellogg School of Management was
founded as Northwestern University 's School
of Commerce. [25]
1908 – Harvard Business School was
founded at Harvard University. It was the first
program in the world to offer the Master of
Business Administration degree. [26]
1909 – Stockholm School of Economics was
founded on the initiative of the Swedish
business sector and is the oldest business
school in Sweden. [27] Hanken School of
Economics was established the same year in
Helsinki, Finland. [28]
1914 – MIT Sloan School of Management
was founded in MIT (as Course XV -
Engineering Administration) [29]
1919 – Babson College was the first business
school founded to focus solely on
entrepreneurship. Every graduate receives a
Bachelor of Science in Business
Administration.
1920 – Kelley School of Business was
founded as Indiana University-Bloomington 's
School of Commerce and Finance. [30]
1920 – First doctoral program in business
was offered at The University of Chicago
Booth School of Business [31]
1936 – The Norwegian School of Economics
(also known as NHH) is the oldest business
school in Norway. [32]
1946 – The Thunderbird School of Global
Management , then called the American
Institute for Foreign Trade, was the first
graduate management school focused
exclusively on global business. [33][34]
1949 – The University of Pretoria in South
Africa founded the oldest business school in
Africa. [35] In January 2008 the Graduate
School of Management was formally replaced
by the Gordon Institute of Business
Science . [36]
1949 – XLRI – India's oldest business
management school is founded. [37]
1953 – IISWBM is the first institute in India to
offer an MBA degree. [38]
1954 – The Faculty of Management Studies
(FMS), University of Delhi is among one of
the oldest business schools in India. [39]
1955 – The Institute of Business
Administration, Karachi was the first business
school to be established outside North
America to offer an MBA degree. [40]
1963 – ESAN University Graduate School of
Business in Lima , Peru was the first Graduate
Business School founded in Latin America . It
was established under an agreement between
the Government of the United States Of
America, Stanford Graduate School of
Business and the Government of Peru .
1991 – The IEDC-Bled School of Management
was the first business school to offer an MBA
program in Eastern Europe. [41]
1994 – CEIBS (China Europe International
Business School ) was the first business
school in China to have received funding from
a foreign government, namely the European
Commission. [42]
2001 – ISB ( Indian School of business ) is a
private business school with campuses in two
states of India, one in Hyderabad, Telangana
and one in Mohali, Punjab.
2015 – The Daniels College of Business was
the first business school to launch a
challenge-driven MBA program. [43]
Degrees
Common degrees are as follows.
Associate's degree : AA, AAB, ABA, AS
Bachelor's Degrees :
BCom , BA, BS , BBA (Bachelor of Business
Administration ), BBus ( Bachelor of Business ),
BSBA , BAcc , BABA, BBS, BMOS and BBusSc
( Bachelor of Business Science )
Master's Degrees : MBA , MBM, Master of
Management , MAcc , MMR, MSMR , MPA ,
MISM , MSM , MHA, MSF , MSc , MST , MMS ,
EMBA and MCom . At Oxford and Cambridge
business schools an MPhil or MSc, is
awarded in place of an MA.
Doctoral Degrees : Ph.D. , DBA, DHA, DM ,
Doctor of Commerce (DCOM), PhD in
Management or Business Doctorate (Doctor of
Philosophy), Doctor of Professional Studies
(DPS)
Use of case studies
Some business schools structure 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
influencing the firm's success. The length of a
business case study may range from two or
three pages to 30 pages, or more.
Business schools often obtain case studies
published by the Harvard Business School ,
INSEAD , London Business School , the Kellogg
School of Management at Northwestern
University , the Ross School of Business at the
University of Michigan, the Richard Ivey School
of Business at The University of Western Ontario ,
the Darden School at the University of Virginia,
IESE , other academic institutions, or case
clearing houses (such as The Case Centre).
Harvard's most popular case studies include
Lincoln Electric Co. [44] and Google , Inc. [45]
Students are expected to scrutinize the case
study and prepare to discuss strategies and
tactics that the firm should employ in the future.
Three different methods have been used in
business case teaching:
1. Preparing case-specific questions to be
answered by the student. This is used with short
cases intended for Undergraduate students. The
underlying concept is that such students need
specific guidance to be able to analyze case
studies.
2. Problem-solving analysis is the second
method initiated by the Harvard Business School
which is by far the most widely used method in
MBA and executive development programs. The
underlying concept is that with enough practice
(hundreds of case analyses) students develop
intuitive skills for analyzing and resolving
complex business situations. Successful
implementation of this method depends heavily
on the skills of the discussion leader.
3. A generally applicable strategic planning
approach. This third method does not require
students to analyze hundreds of cases. A
strategic planning model is provided and
students are instructed to apply the steps of the
model to six – and up to a dozen cases –
during a semester. This is sufficient to develop
their ability to analyze a complex situation,
generate a variety of possible strategies and to
select the best ones. In effect, students learn a
generally applicable approach to analyze cases
studies and real situations. [46] This approach
does not make any extraordinary demands on
the artistic and dramatic talents of the teacher.
Consequently, most professors are capable of
supervising the application of this method.
History of business cases
When Harvard Business School started operating
in 1908, the faculty realized that there were no
textbooks suitable for a graduate program in
business. [47] Their first solution to this problem
involved interviewing leading practitioners of
business and writing detailed accounts of what
these managers were doing, based partly on the
case method already in use at Harvard Law
School . Of course, the professors could not
present these cases as practices to be
emulated, because there were no criteria
available for determining what would succeed
and what would not succeed. So the professors
instructed their students to read the cases and
to come to class prepared to discuss the cases
and to offer recommendations for appropriate
courses of action. The basic outlines of this
method still operate in business-school curricula
as of 2016.
Other approaches
In contrast to the case method some schools
use a skills-based approach in teaching
business. This approach emphasizes quantitative
methods, in particular operations research,
management information systems, statistics,
organizational behavior, modeling and simulation,
and decision science . The leading institution in
this method is the Tepper School of Business at
Carnegie Mellon University . The goal is to
provide students a set of tools that will prepare
them to tackle and solve problems.
Another important approach used in business
school is the use of business games that are
used in different disciplines such as business,
economics, management, etc. Some colleges
are blending many of these approaches
throughout their degree programs, and even
blending the method of delivery for each of these
approaches. A study from by Inside Higher Ed
and the Babson Survey Research Group[48]
shows that there is still disagreement as to the
effectiveness of the approaches but the reach
and accessibility is proving to be more and
more appealing. Liberal arts colleges in the
United States like New England College,[49]
Wesleyan University , [50] and Bryn Mawr College
are now offering complete online degrees in
many business curricula despite the controversy
that surrounds the learning method.
There are also several business schools which
still rely on the lecture method to give students
a basic business education. Lectures are
generally given from the professor's point of
view, and rarely require interaction from the
students unless notetaking is required. Lecture
as a method of teaching in business schools has
been criticized by experts for reducing the
incentive and individualism in the learning
experience. [51]
Executive education
In addition to teaching students, many business
schools run Executive Education programs.
These may be either open programs or
company-specific programs. Executives may
also acquire an MBA title in an Executive MBA
program within university of business or from top
ranked business schools. Many business
schools seek close co-operation with
business. [52]
Accreditation
There are three main accreditation agencies for
business schools in the United States: ACBSP,
AACSB, and the IACBE. In Europe, the EQUIS
accreditation system is run by the EFMD and
AMBA .
Global Master of
Business Administration
ranking
Each year, well-known business publications
such as The Economist , [53] Eduniversal, [54] U.S.
News & World Report ,[55][56] Fortune , Financial
Times , [57] Business Week ,[58] Expansion and
The Wall Street Journal[59] publish rankings of
selected MBA programs and business schools
that, while controversial in their
methodology, [60] nevertheless can directly
influence the prestige of schools that achieve
high scores. Academic research is also
considered to be an important feature and
popular way to gauge the prestige of business
schools. [61][62][63] Business schools share the
common purpose of developing global
managerial talent and to this end, business
schools are encouraged to accelerate global
engagement strategies on the foundations of
collaboration and innovation. [64]
Lists
List of Ivy League business schools
List of Big Ten business schools
List of business schools in Africa
List of business schools in Australia
List of business schools in Asia
List of business schools in Canada
List of business schools in Chile
List of business schools in Europe
List of business schools in France
List of business schools in Germany
List of business schools in India
List of business schools in South Africa
List of business schools in Switzerland
List of business schools in New Zealand
List of business schools in the United States
List of United States graduate business
school rankings
See also
Accreditation Council for Business Schools
and Programs
Association to Advance Collegiate Schools of
Business
Association of MBAs
Case competition
Central and East European Management
Development Association
Decision Sciences Institute
European Foundation for Management
Development
International Assembly for Collegiate Business
Education
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External links
Association of Business Schools
Represents 110 UK business schools
South African Business Schools Association
Association of Business Schools in South
Africa who offer accredited MBA programmes
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