MBA Future – How the MBA is Continually Changing?

Before looking into the MBA future, it is important to know where the program got started. The Master of Business Administration was first developed in the United States in the later part of the 19th century, and it was first introduced in 1908, when Harvard University's business school was the first graduate school of business to offer the MBA program. It was at this point in time that the country was starting to become industrialized and companies were searching for ways in which managing a business could be applied scientifically. In fact, the precursor to the modern MBA degree was called the Master of Science in Commerce degree, offered by Dartmouth College's school of business in 1900.

Now the program is offered at thousands of universities worldwide. Also, whereas the first MBA degree conferred was just a general degree, there are now many areas which students can specialize in, including finance, accounting, operations management, marketing, economics, international business, leadership, and many more. There are also several different types of MBA programs offered, which include the two-year full time program, the one-year full time program, the Executive MBA, part-time programs, and online programs. If this trend continues, the MBA future is sure to offer even a greater variety of programs to business students.

The MBA program has recently experienced lot of criticism from academics and the business world for the way they are run. The criticism being leveled at them is due to their focus on scientific research. The argument is that there is too much focus on scientific research that does not apply to real-life situations in the business world and not enough focus on practical applications. Therefore, the students of conventional MBA programs are ill-equipped to enter the business arena. However, a few schools such as Harvard, Michigan, Dartmouth, Wharton, and Northwestern had developed an applied model, focusing on academic education, immediate application, and professional development that not enough business schools have adopted. Major changes to the way MBA programs are run are being contemplated, though, towards the implementation of a more practical model, which is sure to affect the MBA future.

Another development within the MBA, which is sure to become an increasing trend, is flexibility with more and more online courses and programs being offered worldwide. Therefore, the MBA future is sure to see an increasing acceptance of online MBA degrees. Many respectable business schools already offer distance learning, including Carnegie Mellon University, a top-tier business school in the United States, and more are sure to follow.