Stanford Graduate School of Business held on to its second place finish of last year but Wharton slipped from the third place to fourth, replaced by London Business School. Columbia Business School and INSEAD (based in France/Singapore) shared the fifth place.
The Financial Times’ ranking is probably the most consulted global list of full-time MBA programs, mostly because U.S. News doesn’t rank schools outside the United States and BusinessWeek separates U.S. and non-U.S. schools in different rankings.
According to The Financial Times, although the headline ranking figures show the changes in the survey year to year, the pattern of clustering among the schools is also significant. A total of 195 points separate the top school from the school at number 100 in the ranking. The top 12 schools, from Harvard Business School to IMD, form the leading group of world-class business schools and are separated by 80 points.
MBA (The Master of Business Administration) is a highly valued master’s degree in business management and administration. The MBA degree originated in the United States in the late 19th century when the country industrialized and companies started to look for different scientific approaches to management.
The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations management in a manner most relevant to management analysis and strategy. Most programs also include elective courses.
The MBA is a terminal and a professional degree. Accreditation bodies specifically for MBA programs ensure consistency and quality of education. Business schools in many countries offer programs designed for full-time, part-time, executive, and distance learning students, many with specialized concentrations.
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