In the earlier times, law, medicine, education and other similar fields were the apt choices to do a postgraduate degree. However, with the significance of having management expertise came to the fore with the advent of industrialization. At present, the greater growth prospects presented by MBA program have helped it become a preferential choice for many candidates MBA Institute in Delhi- NCR.
Evolution of the MBA program
In circa 1881, Joseph Wharton established the first business school at an American University. However, the first formal MBA program was introduced in a college in New Hampshire, United States. In the 20th century, a school in Massachusetts, United States, changed MBA’s pedagogical practice by introducing case studies as a tool for teaching the essentials of management.
The US introduced its MBA model requiring two years for its completion. As per the model, the first year of the program teaches the basics of management; this is followed by the students taking summer internships before the second year of the program begins. The final year required students to learn the core business disciplines such as marketing, finance, to mention a few. At that time, the majors or specializations in MBA were Strategic, Accounting, Marketing and Finance. In general, the enrollees for an MBA program were in their mid or late twenties and had a work experience of nearly two years.
Why MBA program in the US was way ahead than that of Europe?
The growth of the MBA degree in the US was swifter when compared with that of Europe; this was because of the European laws (which were finally done away with in the 1950s) that prohibited students to not to take up any vocational program. Such laws reduced the career prospects of many Europeans during that phase.
With the managerial essence of an MBA program remaining intact, the course’s structure has undergone changes in the recent past. All such changes are adopted by the MBA Course offered at Dr. K. N. Modi Foundation. The college’s expertise to educate students about not only the core management, but also new managerial practices has helped it give excellent managers to the corporate world. Any other details about the college and its MBA course are available at – www.knmodifoundation.com.