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:: Master of Business Administration (MBA)

A master's degree[note 1] (from Latin magister) is an academic degree awarded by universities or colleges upon completion of a course of study demonstrating mastery or a high-order overview of a specific field of study or area of professional practice.[1] A master's degree normally requires previous study at the bachelor's level, either as a separate degree or as part of an integrated course. Within the area studied, master's graduates are expected to possess advanced knowledge of a specialized body of theoretical and applied topics; high order skills in analysis, critical evaluation, or professional application; and the ability to solve complex problems and think rigorously and independently.

• Postgraduate/graduate master's degrees (MA/M.A./A.M., MPhil/M.Phil., MSc/M.S./SM, MBA/M.B.A., LLM/LL.M., etc.) are the traditional formal form of master's degree, where the student already holds an undergraduate (bachelor's) degree on entry. Courses normally last one year in the UK and two years in the US.[47][48]
• Integrated master's degrees (MChem, MEng, MMath, MPharm, MPhys, MPsych, MSci, etc.) are UK degrees that combine an undergraduate bachelor's degree course with an extra year at master's level (i.e. a total of four years in England, Wales and Northern Ireland, and five years in Scotland). A 2011 survey of UK Higher Education Institutes found that 64% offered integrated master's course, mostly in STEM disciplines, with the most common degrees being MEng, MSci and MChem. 82% of respondents conferred only a master's degree for the course, while 9% conferred a bachelor's degree at the end of the bachelor's-level stage and a master's degree at the end of the course and a further 9% conferred both bachelor's and master's degrees at the end of the course.[56][57]

The UK Quality Assurance Agency defines three categories of Master's degrees:[59]

• Research master's degrees are primarily research based, although may contain taught elements, particularly on research methods. Examples are the MLitt (usually, but not always a research degree), the Master's by Research, and the MPhil. The Master's by Research (MbyRes, ResM), which is a research degree, is distinct from the Master of Research (MRes), which is a taught degree concentrating on research methods.[60]
• Specialised or advanced study master's degrees are primarily taught degrees, although commonly at least a third of the course is devoted to a research project assessed by dissertation. These may be stand-alone master's courses, leading to, e.g., MSc, MA or MRes degrees, or integrated master's degrees.
• Professional or practice master's degrees (see also professional degree) are designed to prepare students for a particular professional career and are primarily taught, although they may include work placements and independent study projects. Some may require professional experience for entry. Examples include MBA, MDiv, LLM and MSW as well as some integrated master's degrees. The name of the degree normally includes the subject name.

The United States Department of Education classifies master's degrees as research or professional. Research master's degrees in the US (e.g., M.A./A.M. or M.S.) require the completion of taught courses and examinations in a major and one or more minor subjects, as well as (normally) a research thesis. Professional master's degrees may be structured like research master's (e.g., M.E./M.Eng.) or may concentrate on a specific discipline (e.g., M.B.A.) and often substitute a project for the thesis.[48]

Master's programs in the US and Canada are normally two years in length. In some fields/programs, work on a doctorate begins immediately after the bachelor's degree, but a master's may be granted along the way as an intermediate qualification if the student petitions for it.[48] Some universities offer evening options so that students can work during the day and earn a master's degree in the evenings.[63]

Admission to a master's degree normally requires successful completion of study at bachelor's degree level either (for postgraduate degrees) as a stand-alone degree or (for integrated degrees) as part of an integrated scheme of study. In countries where the bachelor's degree with honours is the standard undergraduate degree, this is often the normal entry qualification.[59][72] In addition, students will normally have to write a personal statement and, in the arts and humanities, will often have to submit a portfolio of work.[73]

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A business school is a university-level institution that confers degrees in business administration or management. According to Kaplan business schools are "educational institutions that specialize in teaching courses and programs related to business and/or management".[1] Such a school can also be known as school of management, school of business administration, or colloquially b-school or biz school. A business school teaches topics such as accounting, administration, strategy, economics, entrepreneurship, finance, human resource management, management science, management information systems, international business, logistics, marketing, organizational psychology, organizational behavior, public relations, research methods and real estate among others.

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. Harvard Business School).
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).

Kaplan classifies business schools along four Corners:[2]

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.

Common degrees are as follows.

• Associate's degree: AA, AAB, ABA, AS
• Bachelor's Degrees:

BCom, BA, BS, BBA (Bachelor of Business Administration), BBus (Bachelor of Business), BSBA, BAcc, BABA, BBS, BMOS and BBusSc (Bachelor of Business Science)

• Master's Degrees: MBA, MBM, Master of Management, MAcc, MMR, MSMR, MPA, MISM, MSM, MHA, MSF, MSc, MST, MMS, EMBA and MCom. At Oxford and Cambridge business schools an MPhil or MSc, is awarded in place of an MA.
• Doctoral Degrees: Ph.D., DBA, DHA, DM, Doctor of Commerce (DCOM), PhD in Management or Business Doctorate (Doctor of Philosophy), Doctor of Professional Studies (DPS)

Some business schools structure their teaching around the use of case studies (i.e. the case method). Case studies have been used in Graduate and Undergraduate business education for nearly one hundred years. Business cases are historical descriptions of actual business situations. Typically, information is presented about a business firm's products, markets, competition, financial structure, sales volumes, management, employees and other factors influencing the firm's success. The length of a business case study may range from two or three pages to 30 pages, or more.

Business schools often obtain case studies published by the Harvard Business School, INSEAD, London Business School, the Kellogg School of Management at Northwestern University, the Ross School of Business at the University of Michigan, the Richard Ivey School of Business at The University of Western Ontario, the Darden School at the University of Virginia, IESE, other academic institutions, or case clearing houses (such as The Case Centre). Harvard's most popular case studies include Lincoln Electric Co.[44] and Google, Inc.[45]

Students are expected to scrutinize the case study and prepare to discuss strategies and tactics that the firm should employ in the future. Three different methods have been used in business case teaching:

1. Preparing case-specific questions to be answered by the student. This is used with short cases intended for Undergraduate students. The underlying concept is that such students need specific guidance to be able to analyze case studies.
2. Problem-solving analysis is the second method initiated by the Harvard Business School which is by far the most widely used method in MBA and executive development programs. The underlying concept is that with enough practice (hundreds of case analyses) students develop intuitive skills for analyzing and resolving complex business situations. Successful implementation of this method depends heavily on the skills of the discussion leader.
3. A generally applicable strategic planning approach. This third method does not require students to analyze hundreds of cases. A strategic planning model is provided and students are instructed to apply the steps of the model to six – and up to a dozen cases – during a semester. This is sufficient to develop their ability to analyze a complex situation, generate a variety of possible strategies and to select the best ones. In effect, students learn a generally applicable approach to analyze cases studies and real situations.[46] This approach does not make any extraordinary demands on the artistic and dramatic talents of the teacher. Consequently, most professors are capable of supervising the application of this method.

In contrast to the case method some schools use a skills-based approach in teaching business. This approach emphasizes quantitative methods, in particular operations research, management information systems, statistics, organizational behavior, modeling and simulation, and decision science. The leading institution in this method is the Tepper School of Business at Carnegie Mellon University. The goal is to provide students a set of tools that will prepare them to tackle and solve problems.

Another important approach used in business school is the use of business games that are used in different disciplines such as business, economics, management, etc. Some colleges are blending many of these approaches throughout their degree programs, and even blending the method of delivery for each of these approaches. A study from by Inside Higher Ed and the Babson Survey Research Group[48] shows that there is still disagreement as to the effectiveness of the approaches but the reach and accessibility is proving to be more and more appealing. Liberal arts colleges in the United States like New England College,[49] Wesleyan University,[50] and Bryn Mawr College are now offering complete online degrees in many business curriculae despite the controversy that surrounds the learning method.

There are also several business schools which still rely on the lecture method to give students a basic business education. Lectures are generally given from the professor's point of view, and rarely require interaction from the students unless notetaking is required. Lecture as a method of teaching in business schools has been criticized by experts for reducing the incentive and individualism in the learning experience.[51]

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Pennsylvania (/ˌpɛnsɪlˈveɪniə/ (listen) PEN-sil-VAY-nee-ə), officially the Commonwealth of Pennsylvania, is a state located in the northeastern and Mid-Atlantic regions of the United States. The Appalachian Mountains run through its middle. The Commonwealth is bordered by Delaware to the southeast, Maryland to the south, West Virginia to the southwest, Ohio to the west, Lake Erie and the Canadian province of Ontario to the northwest, New York to the north, and New Jersey to the east.

Commonwealth of Pennsylvania
Flag Seal
Nickname(s): Keystone State;[1] Quaker State
Motto(s): Virtue, Liberty and Independence
State song(s): "Pennsylvania"
Official language	None
Spoken languages	English 90.15% Spanish 4.09% German (Including Pennsylvania German) 0.87% Chinese 0.47% Italian 0.43%[2]
Demonym	Pennsylvanian
Capital	Harrisburg
Largest city	Philadelphia
Largest metro	Delaware Valley
Area	Ranked 33rd
 • Total	46,055 sq mi (119,283 km2)
 • Width	283 miles (455 km)
 • Length	170 miles (273 km)
 • % water	2.7
 • Latitude	39° 43′ to 42° 16′ N
 • Longitude	74° 41′ to 80° 31′ W
Population	Ranked 5th
 • Total	12,807,060 (2018)
 • Density	284/sq mi  (110/km2) Ranked 9th
 • Median household income	$59,195[3] (25th)
Elevation
 • Highest point	Mount Davis[4][5] 3,213 ft (979 m)
 • Mean	1,100 ft  (340 m)
 • Lowest point	Delaware River at Delaware border[4] Sea level
Before statehood	Province of Pennsylvania
Admitted to the Union	December 12, 1787 (2nd)
Governor	Tom Wolf (D)
Lieutenant Governor	John Fetterman (D)
Legislature	General Assembly
 • Upper house	State Senate
 • Lower house	House of Representatives
U.S. Senators	Bob Casey Jr. (D) Pat Toomey (R)
U.S. House delegation	9 Democrats 8 Republicans 1 Vacant (list)
Time zone	Eastern: UTC −5/−4
ISO 3166	US-PA
Abbreviations	PA, Pa., Penn., Penna.
Website	www.pa.gov

Wikimedia | © OpenStreetMap

Interactive map of Pennsylvania

Pennsylvania state symbols
The Flag of Pennsylvania
The Seal of Pennsylvania
Living insignia
Amphibian	Eastern Hellbender
Bird	Ruffed grouse
Dog breed	Great Dane
Fish	Brook trout
Flower	Mountain laurel
Insect	Firefly (Photuris pensylvanica)
Mammal	White-tailed deer
Tree	Eastern hemlock
Inanimate insignia
Beverage	Milk
Dance	Polka
Food	Chocolate Chip Cookie [6]
Fossil	Trilobite
Soil	Hazleton
State route marker
State quarter
Released in 1999
Lists of United States state symbols

Pennsylvania is the 33rd-largest state by area, and the 6th-most populous state according to the most recent official U.S. Census count in 2010. It is the 9th-most densely populated of the 50 states. Pennsylvania's two most populous cities are Philadelphia (1,580,863), and Pittsburgh (302,407). The state capital and its 10th largest city is Harrisburg. Pennsylvania has 140 miles (225 km) of waterfront along Lake Erie and the Delaware Estuary.[7]

The state is one of the 13 original founding states of the United States; it came into being in 1681 as a result of a royal land grant to William Penn, the son of the state's namesake. Part of Pennsylvania (along the Delaware River), together with the present State of Delaware, had earlier been organized as the Colony of New Sweden. It was the second state to ratify the United States Constitution, on December 12, 1787. Independence Hall, where the United States Declaration of Independence and United States Constitution were drafted, is located in the state's largest city of Philadelphia. During the American Civil War, the Battle of Gettysburg was fought in the south central region of the state. Valley Forge near Philadelphia was General Washington's headquarters during the bitter winter of 1777–78.

Pennsylvania's 2016 total gross state product (GSP) of $719.8 billion ranks the state 6th in the nation.[105] If Pennsylvania were an independent country, its economy would rank as the 19th-largest in the world.[106] On a per-capita basis, Pennsylvania's 2016 per-capita GSP of $50,665 (in chained 2009 dollars) ranks 22nd among the 50 states.[105]

Geo map of average income by location in Pennsylvania. Data shown is from the 2014 American Community Survey 5-year estimate.

Philadelphia in the southeast corner, Pittsburgh in the southwest corner, Erie in the northwest corner, Scranton-Wilkes-Barre in the northeast corner, and Allentown-Bethlehem-Easton in the east central region are urban manufacturing centers. Much of the Commonwealth is rural; this dichotomy affects state politics as well as the state economy.[107] Philadelphia is home to six Fortune 500 companies,[108] with more located in suburbs like King of Prussia; it is a leader in the financial[109] and insurance industry.

Pittsburgh is home to eight Fortune 500 companies, including U.S. Steel, PPG Industries, and H.J. Heinz.[108] In all, Pennsylvania is home to fifty Fortune 500 companies.[108] Erie is also home to GE Transportation Systems, which is the largest producer of train locomotives in the United States.

As in the US as a whole and in most states, the largest private employer in the Commonwealth is Wal-Mart, followed by the University of Pennsylvania.[110][111] Pennsylvania is also home to the oldest investor-owned utility company in the US, The York Water Company.

As of November 2018, the state's unemployment rate is 4.2%.[112]

The Pennsylvania State System of Higher Education (PASSHE) is the public university system of the Commonwealth, with 14 state-owned schools. The Commonwealth System of Higher Education is an organizing body of the 4 state-related schools in Pennsylvania, these schools are independent institutions that receive some state funding. There are also 15 publicly funded two-year community colleges and technical schools that are separate from the PASSHE system. Additionally there are many private two- and four-year technical schools, colleges and universities.

Carnegie Mellon University, The Pennsylvania State University, the University of Pennsylvania, and the University of Pittsburgh, are members of the Association of American Universities, an invitation only organization of leading research universities. Lehigh University is also another renowned private research university located in Bethlehem, Pennsylvania. The Pennsylvania State University is the Commonwealth's Land-grant university, Sea Grant College and, Space Grant College. The University of Pennsylvania, located in Philadelphia, is considered the first university in the United States and established the country's first medical school. The University of Pennsylvania is also the Commonwealth's only, and geographically the most southern, Ivy League school. The Pennsylvania Academy of the Fine Arts is the first and oldest art school in the United States.[156] Philadelphia College of Pharmacy, now a part of University of the Sciences in Philadelphia, was the first pharmacy school in the United States.[157]

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