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“Business education.” Merriam-Webster.com Dictionary , Merriam-Webster, https://www.merriam-webster.com/dictionary/business%20education. Accessed 15 Jun. 2024.

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What is Business Education?

Understanding business education and learning.

I want to start by talking to you about what is business education. 

In this material, we focus on business education. 

That is, the objectives of academic institutions in educating their business students. 

In truth, institutions of higher education do not educate their students. 

For purposes of understanding education better, we need to first define the term a bit better.

How is Education different than Training?

Technical colleges, bachelors degree in traditional 4-year colleges, high school education.

Many high schools offer courses that are technical or skilled track; while also offering classes aimed at preparing individuals for later attending four-year bachelors degree granting institutions.

Benefits of the Well-Rounded Education

Do employers want educated employees, understanding business school education, related articles.

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Business Education

Business education is a term that encompasses a number of methods used to teach students the fundamentals of business practices. These methods range from formal educational degree programs, such as the Master of Business Administration (MBA), to school-to-work opportunity systems or cooperative education. Business education programs are designed to provide students with the basic theories of management and production. The main goals of business education programs are to teach the processes of decision making; the philosophy, theory, and psychology of management; practical applications; and business start-up and operational procedures.

TYPES OF BUSINESS EDUCATION PROGRAMS

Traditional academic programs for business education include college courses that teach students the fundamentals of management, marketing, business ethics, accounting, and other relevant topics. These have been supplemented in recent years with extensive course offerings in computer skills, e-commerce management, and other factors in managing a business within the global economy. Students can earn degrees ranging from an Associate degree in business to a Ph.D (Doctor of Philosophy) in business administration. Some programs may consist of classwork only, while others—such as tech-prep and cooperative education programs, internships, and school-to work opportunities—combine academics with on-the-job training.

Tech-Prep Programs

A tech-prep program is a four-year planned sequence of study for a technical field which students begin in their junior year of high school. The program extends through either two years of college in occupational education, or a minimum two-year apprenticeship. Students who complete the program earn either certificates or Associate degrees.

Cooperative education (co-op) is a program which offers students a combination of college courses and work experience related to their majors. Co-op programs are available in a wide range of business disciplines, e.g., information systems, accounting, and sales. Participants enroll in a postsecondary educational program while employed in a related job. Most co-op participants are paid by their employers. The co-op program provides students with the work experience they need to obtain full-time employment after graduation. More than 1,000 postsecondary educational institutions and 50,000 employers participate in co-op programs throughout the United States.

Internships

Internships are related closely to co-op programs. The main difference, however, is that those who participate in internship programs are not paid, as internships are designed specifically to provide participants with work experience. Often, interns will complete the program separately from their academic setting, rather than combining the two.

School-to-Work Programs

School-to-work opportunity programs focus on career awareness for students. They provide participants with work mastery certificates and furnish them with links to technical colleges. In these programs, all participants have jobs, apprenticeships, or further schooling after finishing high school.

Career Academies

Career academies are occupationally focused high schools that contain "schools within schools." Primarily, they train high school juniors and seniors in such areas as environmental technology, applied electrical science, horticulture, and engineering. In addition to these schools, there are also privately operated business schools that grant certificates to students who complete their programs.

All of these types of business education programs provide participants with career paths for high-skill technical and professional occupations by formally linking secondary and post-secondary education, and by integrating academic and occupational learning. Students who complete such programs gain an advantage over people who concentrate solely on the academic part of business education. Whichever route students use to acquire a basic knowledge of business skills and principles, there exist ample opportunities to prepare them for business careers.

ENTREPRENEURS AND THE MBA

In the past, many entrepreneurs viewed the Master of Business Administration (MBA) degree as unnecessary to small business success, and some believed that it stifled the creativity that allowed small businesses to develop and grow. Most entrepreneurs counted on their energy, work experience, industry knowledge, and business connections rather than on their formal business education. In the late 1990s this attitude began to change and increasing numbers of entrepreneurs chose to pursue an MBA degree. Two reasons for this change are often cited. First, today's business world often requires small companies to compete for the same customers as much larger, professionally managed corporations. Second, entrepreneurs are finding that even their smaller competitors are likely to be run by MBAs, as more downsized executives decide to start their own companies. And the appeal of the MBA to entrepreneurs seems to runs in both directions. According to Della Bradshaw in an article appearing in The Financial Times , "while the dotcom boom caused frenzy in MBA ranks, business schools themselves report that the 1998 to 2001 boom was just a blip in the sustained interest students have shown in entrepreneurship over the years."

The MBA degree offers entrepreneurs a set of sophisticated management tools that can be brought to bear on the challenges of running a small business, including economic analysis, marketing knowledge, strategic planning, and negotiating skills. In addition, a business education can help many small business owners to broaden their viewpoints and recognize trends within their business or industry.

Yet another reason for the increase in entrepreneurs pursuing MBA degrees is that most such programs have become more practical in recent years. In addition to teaching theory, MBA programs are increasingly emphasizing teamwork, hands-on experience, and cross-disciplinary thinking. This approach makes the MBA much more applicable to the entrepreneur's interests and experience.

BIBLIOGRAPHY

Alon, Ilan, and John R. McIntyre, Business Education and Emerging Market Economies . Stringer, 2004.

Avis, Ed. "Plugged-in Professors: Business Schools Must Balance Traditional Lessons with Tech Trends." Crain's Chicago Business . 2 October 2000.

Bradshaw, Della. "Entrepreneurs are Back in the Classroom." The Financial Times . 21 April 2003.

Cashill, Jack. "Capitalizing on Business Education." Ingram's . July 2000.

Mitchell, Meg. "A Difference of Degree." CIO . September 2000.

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The Evolution of Business Education: A Historical Perspective

• Date August 28, 2023

In the realm of academia, few subjects have witnessed as significant a transformation as business education. Over the years, the domain of business studies has metamorphosed, reflecting the broader socio-economic changes of our society. This article journeys through the annals of history, offering insights into the evolution of business education.

1. The Beginnings: Handshake Deals and Oral Traditions

Prior to formalized business education, commerce was largely based on oral traditions and apprenticeships. Early merchants learned the art of trade from their elders, through hands-on experiences and community-based knowledge sharing. There was no systematic approach, but practicality was at its core.

2. Birth of the First Business Schools

The late 19th century marked a monumental shift. As industries burgeoned and the complexities of business operations grew, there was a growing demand for structured business knowledge. This led to the establishment of the first business schools, primarily in the United States and Europe. Institutions like Wharton (established in 1881) began offering formal degrees in business administration.

3. Expanding Horizons: The Rise of Specialisations

With the rapid industrialisation of the 20th century, business operations became multifaceted. This necessitated specialisations within business education. From marketing to human resources, finance to operations, the latter half of the 20th century saw a proliferation of business specialisations in academia.

4. Technology and Globalisation Redefining Business Education

The dawn of the digital age in the late 20th and early 21st century propelled business into a globalised arena. This was mirrored in the curricula of business schools, with subjects like international business, e-commerce, and digital marketing becoming integral parts of business education.

5. The Ethical Revolution

In the wake of global financial crises, questions about business ethics and corporate social responsibility came to the forefront. Business schools across the globe revamped their curricula to include ethics, sustainability, and corporate governance as core components. The role of a business leader was redefined, not just as a profit-maker but as a societal stakeholder.

6. The Present and Future: Embracing Agility and Lifelong Learning

Today’s business world is marked by uncertainty and rapid change, driven by technology, geopolitics, and environmental challenges. Modern business education has adapted by emphasizing soft skills, adaptability, and a commitment to lifelong learning. Hybrid models of learning, combining traditional classroom techniques with online modalities, have become the norm.

Conclusion:

From the bazaars of ancient civilizations to the sleek, tech-driven boardrooms of today, the art and science of business have come a long way. And parallel to this journey, business education has evolved, adapting and reshaping itself in response to the changing needs of society and the marketplace. As we stand on the cusp of another era of rapid technological and societal change, business education will undoubtedly continue its evolution, preparing future leaders for the challenges and opportunities that lie ahead.

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24 Business Education

Rolv Petter Amdam is Professor of Business History at BI Norwegian School of Management in Norway. He has a Ph.D. in History from the University of Oslo. His research interests include the history of business education, and globalization since the 1980s, with a special focus on emerging economies and cross‐cultural management. He is the author of several monographs as well as numerous articles.

• Published: 02 September 2009
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In recent years, there has been a steady expansion in the literature on the history of business education. This article presents the main contributions to the existing knowledge of the development of business education internationally. It discusses the developmental path of business education around the world and the emergence of higher business as a phenomenon that occurred in different forms in parallel within major economies. The article characterizes the first decades after the Second World War as a period of Americanization. It has been generally agreed that European business schools were strongly influenced by American role models after the Second World War. The article supports this view; however, it also emphasizes that the concept of “Americanization” most suitably characterizes the relationship between American and Western European business education during the first two decades after the war. It characterizes international business education over the last two decades by globalization and regionalization.

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