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 in the late 19th century as the country industrialized and companies sought out scientific approaches to management. The main objective of the MBA was to introduce students to the various core aspect of business management such as accounting, marketing, human resources, operations management and corporate laws etc.
The first graduate school of business in the United States was the Tuck School of Business, part of Dartmouth College. Founded in 1900, it was the first institution conferring advanced degrees (masters) in the commercial sciences, specifically, a Master of Science in Commerce degree, the forebear of the modern MBA degree. In 1908, the Graduate School of Business Administration (GSBA) at Harvard University was established; it offered the world's first MBA program, with a faculty of 15 plus 33 regular students and 47 special students. The University Of Chicago Booth School Of Business first offered working professionals the Executive MBA (EMBA) program in 1940
- Full Time MBA programs normally take place over two academic years (i.e. approximately 18 months of term time). Classes are typically structured along semester/trimester basis and students enter take classes during weekdays like other university students at undergraduate levels. Whilst most full time MBA students possess working experience and a reasonable GMAT score, some business schools accept students without prior real-world work experience into their MBA program.
- Accelerated MBA programs are a variation of between one or 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. Accelerated MBA are highly intensive programs and academically challenging.
- Part-time MBA programs normally hold classes on weekday evenings, after normal working hours, or on weekends. Part-time programs normally last between one to three years. The students in these programs typically consist of working professionals, who take a more structured programs where classes are conducted over weekends or weekdays evening. Part-time MBA is the most popular options for most working professionals.
- 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 class’s 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 schools offer these programs.
- MBA with Concentration Students in some MBA programs have the option to select an area of concentration and focus approximately one-third of their studies in this subject. 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
- 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.
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