Business school

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For the television episode, see Business School (The Office episode).

A business school is a university-level institution that confers degrees in business administration or management. Such a school can also be known as a business college, college of business, college of business administration, 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.

Types[edit]

There are several forms of business schools, including school of business, business administration, and management.

  1. Most of the university business schools are faculties, colleges, or departments within the university, and teach predominantly business courses.
  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.
  3. In Europe and Asia, some universities teach only business.
  4. In Europe, major business schools are owned by the Chambers of Commerce (including ESCP Europe, founded in 1819).[1]
  5. Privately owned business school which is not affiliated with any university.

Notable firsts[edit]

ESCP Europe, France, founded in 1819
Wharton School, US, founded in 1881
University of St. Gallen, Switzerland, founded in 1898

Degrees[edit]

Common degrees are as follows.

Use of case studies[edit]

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.

Business schools often obtain case studies published by the Harvard Business School, INSEAD, 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 European Case Clearing House). Harvard's most popular case studies include Lincoln Electric Co.[27] and Google, Inc.[28]

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. Prepared 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. This second method, initiated by the Harvard Business School 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 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 analyzing cases studies and real situations.[29] This approach does not make any extraordinary demands on the artistic and dramatic talents of the teacher. Consequently most professors are capable of supervising application of this method.

History of business cases[edit]

When Harvard Business School was founded, the faculty realized that there were no textbooks suitable to a graduate program in business.[30] Their first solution to this problem was to interview leading practitioners of business and to write 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 are still present in business school curriculum today.

Other approaches[edit]

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[31] 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,[32] Wesleyan University,[33] and Bryn Mawr College are now offering complete online degrees in many business curriculae 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.[34]

National Accreditation[edit]

There are three main accreditation agencies for business schools in the United States. ACBSP, AACSB, and the IACBE. In Europe, the regional accreditation consortium is the EFMD.

Global Master of Business Administration ranking[edit]

Each year, well-known business publications such as The Economist,[35] U.S. News & World Report,[36][37] Fortune, Financial Times,[38] Business Week[39] and The Wall Street Journal[40] publish rankings of selected MBA programs that, while controversial in their methodology,[41] 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.[42][43][44]

Lists[edit]

See also[edit]

References[edit]

  1. ^ "My degrees". http://schools.my-degrees.com. 
  2. ^ "Andreas Kaplan: European Management and European Business Schools: Insights from the History of Business Schools, European Management Journal, 2014". 
  3. ^ "Focus On - Generation Europe Foundation - Career Guidance (page 5)". 
  4. ^ "Business Schools and business programs - Graduate International". 
  5. ^ "ESCP Europe". http://www.topuniversities.com. 
  6. ^ "The 10 Top European Business Schools according to international recruiters". http://www.topmba.com. 
  7. ^ "The University of Antwerp, Belgium". http://www.thecompleteuniversityguide.co.uk. 
  8. ^ "The Budapest Business School". 
  9. ^ "Ecoles de commerce: Rouen et Reims s'unissent pour voir plus grand". http://etudiant.lefigaro.fr. 14 May 2014. 
  10. ^ "Rouen: Rouen Business School". http://gpglobalea.gp.psu.edu. 
  11. ^ "Wharton History". The Wharton School of the University of Pennsylvania. Retrieved 2012-06-03. 
  12. ^ "Definition: Betriebswirtschaftlehre (BWL)" (in German). Gabler Wirtschaftslexikon. Retrieved 10 June 2012. 
  13. ^ Tuck School of Business | History. Tuck.dartmouth.edu. Retrieved on 2013-07-26.
  14. ^ "Birmingham Business School". The Independent (London). 2010-12-12. 
  15. ^ "History of the School". SGH. Retrieved 8 August 2012. 
  16. ^ "History of the MBA MBA Friday Facts". http://www.topmba.com. 
  17. ^ Kaplan, Andreas M (2014). "European Management and European Business Schools: Insights from the History of Business Schools". European Management Journal. Retrieved 2014-03-06. 
  18. ^ Gonzales, Angela (2007-02-05). "Thunderbird school changes name as it seizes new opportunities – Phoenix Business Journal". Phoenix.bizjournals.com. Retrieved 2012-03-22. 
  19. ^ "Thunderbird history showcased through Arizona Memory Project – Thunderbird School of Global Management". Thunderbird.edu. Retrieved 2012-03-22. 
  20. ^ "Wits Business School". MBA.co.za. Retrieved 2012-03-22. 
  21. ^ http://www.gsm.up.ac.za/
  22. ^ XLRI- Xavier School of Management
  23. ^ http://www.fms.edu/?q=node/10
  24. ^ http://iba.edu.pk/historyofiba.php
  25. ^ "IEDC – Bled School of Management". The Independent (London). 2010-12-21. 
  26. ^ "Charmed by China". Business Because. Retrieved 2012-03-22. 
  27. ^ "Lincoln Electric Co". Harvardbusinessonline.hbsp.harvard.edu. Retrieved 2012-03-22. 
  28. ^ "Google Inc". Harvardbusinessonline.hbsp.harvard.edu. Retrieved 2012-03-22. 
  29. ^ "Chapter 1.2. A Model for Strategic Planning, Analyzing Cases and Decision Making". Mbatoolbox.org. 2006-02-22. Retrieved 2012-03-22. 
  30. ^ "MICA innovation to help Harvard business school sharpen teaching tools". http://timesofindia.indiatimes.com. 25 July 2011. 
  31. ^ http://www.insidehighered.com/news/2012/06/29/liberal-arts-college-explore-uses-blended-online-learning#ixzz24roXTbOn
  32. ^ http://www.bisk.com/pr/new-england-college-launches-online-degrees
  33. ^ http://www.insidehighered.com/news/2012/06/29/liberal-arts-college-explore-uses-blended-online-learning
  34. ^ J. Scott Armstrong (2012). "Natural Learning in Higher Education". Encyclopedia of the Sciences of Learning. 
  35. ^ [1][dead link]
  36. ^ "Best Undergraduate Business Programs | Rankings | US News". Colleges.usnews.rankingsandreviews.com. Retrieved 2012-03-22. 
  37. ^ "Best Business School Rankings | MBA Program Rankings | US News". Grad-schools.usnews.rankingsandreviews.com. 2012-03-13. Retrieved 2012-03-22. 
  38. ^ "Business school rankings from the Financial Times - Global MBA Rankings 2012". Rankings.ft.com. Retrieved 2012-03-22. 
  39. ^ "Business Schools". Businessweek. Retrieved 2012-03-22. 
  40. ^ "Business Schools - MBA Rankings and Executive Education Programs - Wsj.com". Online.wsj.com. Retrieved 2012-03-22. 
  41. ^ "From Best Business School to Best MBA Fit for You". Best Match. Retrieved 2014-05-01. 
  42. ^ J. Scott Armstrong (1994). "Learning versus Teaching: Reply to Commentaries". Interfaces 24: 39–43. 
  43. ^ "Business School Prestige – Research versus Teaching". Journal of Marketing (American Marketing Association) 59: 101–106. 1995. 
  44. ^ J. Scott Armstrong and Tad Sperry (1994). "Book Reviewed: Peter Robinson, Snapshots from Hell, New York: Warner Books, 1994.". Interfaces 24: 13–43. 

External links[edit]