The Master of Business Administration (MBA or M.B.A.)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, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing, supply chain, and operations in a manner most relevant to management analysis and strategy.
Most programs also include elective courses and concentrations for further study in a particular area, for example, accounting, finance, and marketing.
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 a full-time, part-time, executive (abridged coursework typically occurring on nights or weekends) and distance teaching 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 degree in management. There are 20 IIMs in total.