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A business school is a university-level institution that confers degrees in business administration or management. A business school may also be referred to as school of management, management school, school of business administration, or colloquially b-school or biz school. A business school teaches topics such as accounting, administration, business analytics, strategy, economics, entrepreneurship, finance, human resource management, management science, management information systems, international business, logistics, marketing, sales, operations management, organizational psychology, organizational behavior, public relations, research methods, real estate, and supply chain management among others. # ISO certification in India

Types

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

  1. Most of the university business schools consist of faculties, colleges, or departments within the university, and predominantly teach business courses (e.g. Mannheim Business School).
  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 (e.g. Stanford Graduate School of Business, Harvard Business School, University of Chicago Booth School of Business, Wharton School of the University of Pennsylvania).
  3. In Europe and Asia, some universities teach predominantly business courses (e.g. Copenhagen Business School).
  4. Privately owned business school which is not affiliated with any university (e.g. WHU – Otto Beisheim School of Management, Frankfurt School of Finance & Management).# ISO certification in India
  5. In France, many business schools are public-private partnerships (École consulaire or EESC) largely financed by the public Chambers of Commerce. These schools offer accredited undergraduate and graduate degrees in business from the elite Conférence des Grandes Écoles and have only loose ties, or no ties at all, to any university (e.g., HEC Paris, TBS Education, ESCP Business School).# ISO certification in India

Kaplan classifies business schools along four Corners:

  1. Culture (Europe – US): Independent of their actual (physical) location, business schools can be classified according to whether they follow the European or the US model.
  2. Compass (international/global – regional/local): Business schools can be classified along a continuum, with international/ global schools on one end and regional/ local schools on the other.
  3. Capital (public – private): Business schools can either be publicly (state) funded or privately funded, for example through endowments or tuition fees.
  4. Content (teaching – research): Business school can be classified according to whether a school considers teaching or research to be its primary focus.# ISO certification in India
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Notable firsts

The first business schools appeared in Europe in the eighteenth century and multiplied from the beginning of the nineteenth century.

  • 1759 – The Aula do Comércio in Lisbon was the first institution to specialise in the teaching of accounting in the world. It provided a model for development of similar government-sponsored schools across Europe, and closed in 1844. Therefore, the Aula do Comércio paved the way for business schools to start.
  • 1819 – The oldest business school still in existence today, ESCP Business School, established as Ecole Supérieure de Commerce de Paris, is in Paris, France. Initially, ESCP was a private school that became a family firm from 1830 to 1869. ESCP Business School was established by a group of academics, economics and businessmen amongst which Jean-Baptiste Say who was an alumnus of the Grande Ecole CNAM: French National Conservatory of Arts and Crafts in Paris and faculty at both CNAM and the Collège de France, along with the banker Vital Roux.
  • 1855 – The Institut Supérieur de Commerce d’Anvers (State funded) and the Institut Saint-Ignace – École Spéciale de Commerce et d’Industrie (Jesuits education) were founded in the same year in the city of Antwerp, Belgium. After getting university status in 1965 and after almost 150 years of business education and rivalry between each other, both merged in 2003 into what became the University of Antwerp.
  • 1857 – The world’s first public business school, Budapest Business School was founded in Budapest in Austria-Hungary as the first business school in Central Europe.
  • 1868 – The Ca’ Foscari University was founded in Venice. It is the oldest business school in Italy and one of the oldest in the world.
  • 1881 – The Wharton School of the University of Pennsylvania is the United States’ first business school. HEC Paris (The École des Hautes Études Commerciales de Paris) was established by the Paris Chamber of Commerce (CCIP).
  • 1898 – The University of Chicago Booth School of Business is set up in 1898 when university faculty member James Laurence Laughlin chartered the College of Commerce and Politics. On the west coast Haas School of Business is established as the College of Commerce of the University of California with Carl Copping Plehn as the Dean in 1898 and became the first public business school.
  • 1898 – Handelshochschule Leipzig, today Leipzig Graduate School of Management, was founded as the first Business School in Germany, so it is the oldest university teaching economics in German speaking regions.
  • 1898 – The University of St. Gallen established the first university in Switzerland teaching business and economics.
  • 1900 – The first graduate school of business in the United States, the Tuck School of Business at Dartmouth College, was founded. The school conferred the first advanced degree in business, specifically, a Master of Science in Commercial Sciences, the predecessor to the MBA.
  • 1902 – The Birmingham Business School of University of Birmingham is the United Kingdom’s first business school. Established as the School of Commerce in Birmingham, United Kingdom.
  • 1903 – TBS Education, established as the Ã‰cole Supérieure de Commerce de Toulouse or Toulouse Business School, founded by the Toulouse Chamber of Commerce and Industry, is a triple crown grande école in France which helped re-establish the Université de Toulouse. The Solvay Brussels School of Economics and Management of Université Libre de Bruxelles is the Belgium’s first business school created by an entrepreneur Ernest Solvay, founder of the chemistry company Solvay.
  • 1906 – The Department of Commerce was founded as part of McGill University in Montreal, Quebec, Canada, eventually developing into the Desautels Faculty of Management.
  • 1906 – The Warsaw School of Economics (SGH) was established as the first university in Poland dedicated to teaching commerce and economics.
  • 1907 – HEC Montréal is founded in Montreal, being the first School of Management of its kind in Canada. It was also the first school in North America to be awarded the 3 most prestigious accreditations (AACSB, AMBA, EQUIS), which less than 70 schools in the world have achieved.
  • 1907 – ESSEC Business School in Paris, which was later the first Business School outside North America to be accredited by the AACSB (main and most famous association to accredit schools of business) in 1997
  • 1908 – Harvard Business School was founded at Harvard University. It was the first program in the world to offer the Master of Business Administration degree.
  • 1909 – Stockholm School of Economics was founded on the initiative of the Swedish business sector and is the oldest business school in Sweden. Hanken School of Economics was established the same year in Helsinki, Finland.
  • 1914 – MIT Sloan School of Management was founded in MIT (as Course XV – Engineering Administration)
  • 1919 – Babson College was the first business school founded to focus solely on entrepreneurship. Every graduate receives a Bachelor of Science in Business Administration.
  • 1920 – First doctoral program in business was offered at The University of Chicago Booth School of Business
  • 1925 – Stanford Graduate School of Business was founded when trustee and eventual 31st President of the United States Herbert Hoover formed a committee focused on keeping the brightest minds in business on the west coast.
  • 1936 – The Norwegian School of Economics (also known as NHH) is the oldest business school in Norway.# ISO certification in India