The Business of Business Education in the United States: A Century Goes By (original) (raw)

An Effective MBA: Perspectives of Students, Faculty, and Employers

The demand for Master of Business Administration (MBA) education has increased tremendously over recent years. Having an MBA qualification is seen as a passport for a managerial role. The prestige of MBA education, however, has fluctuated. There have been numerous critiques of the MBA. This article examined the existing literature on perspectives of MBA faculty, MBA students, and employers on the effectiveness of MBA programs. So, from a student perspective, what are their expectations? Do their expectations get fulfilled? MBA faculty will frequently ponder if they are adequately preparing students to be leaders in organizations. Employers expect MBA graduates to excel in the workplace. In addition to the different perspectives, we offered several suggestions for greater success and satisfaction of students, faculty, and employers. The demand for Master of Business Administration (MBA) education has increased tremendously over recent years. Having an MBA qualification is seen as a passport for a managerial role. The prestige of MBA education, however, has fluctuated. In a fast-paced global work environment, MBA graduates are often criticized for their inability to transfer content knowledge to real situations (Sulaiman & Mohezar, 2009). This article examines the existing literature on perspectives of MBA faculty, MBA students, and employers on the effectiveness of MBA programs. So, from a student perspective, what are their expectations? Do their expectations get fulfilled? MBA faculty will frequently ponder if they are adequately preparing students to be leaders in organizations. Employers expect MBA graduates to excel in the workplace. To what extent are all of these expectations being met? An MBA is an internationally recognized business degree. It is academic in nature and yet provides practical preparation for individuals in business and management. An MBA can not only complement professional experience, but an MBA graduate is able to command a higher salary than his or her colleague who does not have the degree (Blackburn, 2011). According to the National Center for Education Statistics, 191,571 people graduated from U.S. schools in 2012 with advanced degrees in business, representing about one in four of all master's degrees conferred nationwide (Hann, 2014) making the MBA the most popular graduate degree in the U.S. Given such popularity of the degree, how can all stakeholders ensure the highest satisfaction and effectiveness of the investment and at the same time? Are students, faculty, and employers generally satisfied with MBA programs? Through the literature review, we explore the different perspectives of the respective stakeholder groups and offer multiple recommendations given the gaps that exist. 1. Perspectives of Students, Faculty, and Employers We reviewed the current literature from the perspectives of i) MBA students, ii) MBA Faculty, and iii) Employers. These perspectives enabled up to have a deeper understanding on their respective points of view. Providing a quality graduate program is a difficult and ever-changing task. To begin, the expectations of external constituents may vary widely. Educational institutions are scrutinized on the basis of the benefits that they provide to businesses, organizations, and communities through graduates (Sculley, 1988). Given this, the pursuit of the meaning of quality in education, the extant literature provides numerous suggestions (Rapert, Smith, Velliquette, & Garretson, 2004). We explain some of these through the perspectives of the respective groups.

Graduate Business Education, 1945-1960

1990

The rise of graduate business schools occurred during a period of enormous growth, followed by dramatic decline, in the fortunes of American business. During the 15 years following World War II, corporate recruiters increasingly turned to graduates of America's business schools to staff their flourishing operations. These MBA (Masters in Business Administration)educated managers changed the way Americans did business. 2 Their impressive credentials enabled them to get hired and promoted to management positions in growing numbers.

Executive MBA Programs: What Do Students Perceive as Value for their Practices

O propósito do estudo foi investigar a percepção de alunos de MBA acerca do processo de aprendizagem gerencial. Foi realizado um trabalho de natureza exploratória e qualitativa com 160 alunos de 6 programas de MBA no Brasil, no período de 2004 a 2008. Os dados foram coletados através de questionário aplicado em atividades de grupo, o qual foi construído com objetivo de conduzir os participantes a identificarem conteúdos e experiências de aprendizagem associados ao desenvolvimento de capacidades e competências. Foi discutida a indicação de uma miríade de tecnologias pedagógicas para educadores sem que fossem considerados os conhecimentos valorizados como importantes pelos alunos. Três aspectos foram identificados como os mais relevantes na experiência de aprendizagem dos alunos de MBA: (a) abertura para explorar novos modos de interpretar o mundo; (b) desenvolvimento de capacidades específicas; e (c) desenvolvimento de competência relacional. A principal contribuição deste artigo é elucidar o engajamento ativo dos alunos nas oportunidades de aprendizagem criadas pelos educadores de MBA e os resultados alcançados no desenvolvimento de capacidades e competências. Com base nas evidências, argumenta-se que o planejamento pedagógico elaborado por educadores deve considerar os alunos de MBA como protagonistas do processo de aprendizagem gerencial.

The MBA Is Dead: Long Live the MBA

Executive Education after the Pandemic, 2021

Over recent decades, the MBA has been one of the most in-demand postgraduate qualifications, despite periodic economic crises. 1 Unlike other specialist programs, which have evolved more elastically or cyclically, demand for MBAs has remained steady, with the exception of some periods marked by special circumstances, like student VISA restrictions, 2 or during the period 1 As reflected in GMAC annual reports: "Demand for MBA and Business Master's Programs. Insights and Candidates Decision Making," April 2019. https://www.gmac.com/-/media/files/gmac/research/ admissions-and-application-trends/demand-for-mba-and-business-masters-programsinsights-on-candid ate-decision-making-summary-reportmbac.pdf. 2 J. Moules, "Demand for MBAs Falls for the First Time. Applications for Places in Courses Drops Nearly 7% in the US," Financial Times, February 2, 2021, following international students' VISA restrictions imposed by the Trump administration. https://www.ft.com/content/e5c07830-1eb0-40bb-b0a0-f657252ea8ab.

The MBA is dead – part 2: long live the MBL!

On the Horizon, 2005

PurposeBuilding on part 1 of this series, this paper aims to look at alternative ways in which business schools can develop the future managers and leaders needed by organisations. It draws attention to an emerging gap in the marketplace and suggests one possible model for addressing it.Design/methodology/approachA year‐long future study was undertaken at Cranfield School of Management combining a range of traditional research methods and samples including literature review, surveys of alumni, academics and futurists, interviews with recruiters and human resource (HR) managers, a Delphi study with international participants, and interviews and a focus group with business leaders. The results were then analysed and combined to form the pictures developed in this article and its counterpart.FindingsFollowing on from Part 1, this paper proposes a new “élite” qualification for senior managers and leaders to replace the Master of Business Administration (MBA) in the marketplace. This wou...

Management Education and the Executive MBA

The purpose of this paper is to compare the Executive MBA programs offered in Trinidad and Tobago as a guide to potential executives seeking to pursue a graduate business degree. The methodology employed was research of the published prospectuses from the business schools that offer an executive degree, interviews with program coordinators to fill information gaps, and preparation of a matrix based on key decision criteria for comparative purposes. The main finding is that there is significant difference between the two main providers in terms of length of program and cost which creates a highly competitive environment with strategic implications for the main local university. The value of this research is that it has not been conducted before in the Caribbean context and will serve as a guide to executives and public officials.

The impact of an MBA on graduate careers

Human Resource Management Journal, 2000

E ducation is a key element in achieving individual development and life success. The Master in Business Adminis tration (MBA) degree is a widely accepted quali® cation in business management, recognised around the globe. As such, it is expected to lead to enhanced managerial success, though this is not universally accepted. The aim of this article is to examine the impact of an MBA degree on manageria l performance and career success.