Master of Business Administration, the abbreviation MBA or M.B.A. is used. It is a university degree in management originated in Anglo-Saxon countries (UK and USA). Nowadays, however, MBA is taught in other countries and it is probably the most widely used method of managers’ education. MBA degree is given after the name, and in the profession of managers, it is an internationally highly acclaimed degree.
MBA comes from the Anglo-Saxon countries, where higher education has traditionally had two degrees: bachelor’s and master’s. The second part of MBA expresses the field of study. In the international classification ISCED 97, MBA represents degree 5 Master (higher level of university studies).
A different situation is in continental Europe, where at the time of MBA studies introduction, the university studies had only one degree. The lowest, with which the continental Europeans could apply for MBA, was the master’s degree. MBA therefore has been in Europe as the postgraduate studies and also part of the professional education of managers. And still today, it is sometimes seen more as a part of lifelong learning of managers.
The objective of the MBA program is to complement the managerial skills and obtaining competencies essential for managerial function. It has a form of on-site and distance learning. Several years of practice is often a condition, but not always. A necessary condition for today is an undergraduate degree (applicable in Europe and the USA).