Harvard Business School

Last updated
Harvard Business School
Harvard Business School shield logo.svg
Coat of arms of HBS
Type Private business school
Established1908
Endowment $3.8 billion (2017) [1]
Dean Nitin Nohria
Academic staff
200
Administrative staff
1,100
Students2,009
(1,859 in MBA )
(150 in Ph.D. )
Location, ,
United States

42°22′02″N71°07′21″W / 42.36722°N 71.12253°W / 42.36722; -71.12253 Coordinates: 42°22′02″N71°07′21″W / 42.36722°N 71.12253°W / 42.36722; -71.12253
Campus Urban
Affiliations Harvard University
Website HBS.edu
HBS Horizontal Logo.PNG

Harvard Business School (HBS) is the graduate business school of Harvard University in Boston, Massachusetts. Consistently ranked among the top business schools in the world, [2] [3] the school offers a large full-time MBA program, management related doctoral programs, HBS Online and many executive education programs. It owns Harvard Business Publishing, which publishes business books, leadership articles, online management tools for corporate learning, case studies and the monthly Harvard Business Review . It is home to the Baker Library/Bloomberg Center.

Contents

History

Baker Library Baker library.jpg
Baker Library

The school was established in 1908. [4] Initially established by the humanities faculty, it received independent status in 1910, and became a separate administrative unit in 1913. The first dean was historian Edwin Francis Gay (1867–1946). [5] Yogev (2001) explains the original concept:

This school of business and public administration was originally conceived as a school for diplomacy and government service on the model of the French Ecole des Sciences Politiques. [6] The goal was an institution of higher learning that would offer a master of arts degree in the humanities field, with a major in business. In discussions about the curriculum, the suggestion was made to concentrate on specific business topics such as banking, railroads, and so on... Professor Lowell said the school would train qualified public administrators whom the government would have no choice but to employ, thereby building a better public administration... Harvard was blazing a new trail by educating young people for a career in business, just as its medical school trained doctors and its law faculty trained lawyers. [7]

The business school pioneered the development of the case method of teaching, drawing inspiration from this approach to legal education at Harvard. Cases are typically descriptions of real events in organizations. Students are positioned as managers and are presented with problems which they need to analyse and provide recommendations on. [8]

From the start the school enjoyed a close relationship with the corporate world. Within a few years of its founding many business leaders were its alumni and were hiring other alumni for starting positions in their firms. [9] [10] [11]

At its founding, the school accepted only male students. The Training Course in Personnel Administration, founded at Radcliffe College in 1937, was the beginning of business training for women at Harvard. HBS took over administration of that program from Radcliffe in 1954. In 1959, alumnae of the one-year program (by then known as the Harvard-Radcliffe Program in Business Administration) were permitted to apply to join the HBS MBA program as second-years. In December 1962, the faculty voted to allow women to enter the MBA program directly. The first women to apply directly to the MBA program matriculated in September 1963. [12]

In 2012–2013, HBS administration implemented new programs and practices to improve the experience of female students and recruit more female professors. [13]

International Research Centers

HBS established nine global research centers and four regional offices [14] and functions through offices in Asia Pacific (Hong Kong, Shanghai, Singapore), United States (San Francisco Bay Area, CA), Europe (Paris), South Asia (India), [15] Middle East and North Africa (Dubai, Istanbul, Tel Aviv), Japan and Latin America (Buenos Aires, Mexico City, São Paulo).[ citation needed ]

MBA program

Inside an HBS classroom Inside a Harvard Business School classroom.jpeg
Inside an HBS classroom
HBS participates in the Harvard Graduate Council (HGC), a university-wide student government HarvardGraduateCouncil.jpg
HBS participates in the Harvard Graduate Council (HGC), a university-wide student government

Rankings

Business school rankings
Worldwide overall
QS [16] 5
Times Higher Education [17] 7
U.S. News & World Report [18] 1
Worldwide MBA
Business Insider [19] 3
Economist [20] 3
Financial Times [21] 2
U.S. MBA
Bloomberg Businessweek [22] 3
Forbes [23] 3
U.S. News & World Report [24] 3
Vault [25] 2

In 2019, HBS was tied for 3rd with University of Chicago Booth School of Business and MIT Sloan School of Management by U.S. News & World Report 's ranking of U.S. business schools [26] and ranked 2nd in the world by the Financial Times. [27]

Student life

HBS students can join more than 80 different clubs and student organizations on campus. The Student Association (SA) is the main interface between the MBA student body and the faculty/administration. In addition, HBS student body is represented at the university-level by the Harvard Graduate Council.[ citation needed ]

Other programs

In 2015, executive education contributed $168 million to HBS's total revenue of $707 million. [28]

Advanced Management Program (AMP)

The Advanced Management Program (AMP) is a seven-week residential program for senior executives with the stated aim to "Prepare for the Highest Level of Leadership". [29] After HBS suspended its MBA program from 1943–1946 [30] to train the military leadership in its six wartime schools, [31] AMP emerge in 1945 out of the Army Air Forces Statistical School [32] as HBS's civilian senior leadership program. [33] Today, AMP is held twice a year, each session consisting of about 170 senior executives. [29] In contrast to the MBA program, AMP has no formal educational prerequisites. [28] Admission to AMP is selective and based on an applicant's track record as senior executive and references. [34] [29] Upon completion, AMP participants are inducted into the HBS alumni community. [28]

Owner/President Management Program (OPM)

The Owner/President Management Program (OPM) consists of three three-week "units", spread over two years, marketed to "business owners and entrepreneurs". [35] [36] There are "no formal educational requirements". Notable attendees include model-turned-businesswoman Tyra Banks, who has been criticised for using phrases such as "I went to business school", from which people might infer that she earned a Harvard MBA. [37]

Harvard Business School Online (HBS Online)

HBS Online, previously HBX, is an online learning initiative announced by the Harvard Business School in March 2014 to host online university-level courses. Initial programs are the Credential of Readiness (CORe) and Disruptive Strategy with Clayton Christensen. Leading with Finance, taught by Mihir A. Desai, was added to the catalog in August 2016. HBS Online also created HBX Live, a virtual classroom based at WGBH in Boston. The duration of HBS Standard Online CORe course is 10 to 12 weeks. [38]

SVMP

The Summer Venture in Management Program (SVMP) is a one-week management training program for rising college seniors designed to increase diversity and opportunity in business education. Participants must be employed in a summer internship and be nominated by and have sponsorship from their organization to attend. [39]

Academic units

The school's faculty are divided into 10 academic units: Accounting and Management; Business, Government and the International Economy; Entrepreneurial Management; Finance; General Management; Marketing; Negotiation, Organizations & Markets; Organizational Behavior; Strategy; and Technology and Operations Management. [40]

Facilities

In the fall of 2010, Tata related companies and charities donated $50 million for the construction of an executive center. [41] The executive center was named as Tata Hall, after Ratan Tata (AMP, 1975), the chairman of Tata Sons. [42] The total construction costs have been estimated at $100 million. [43] Tata Hall is located in the northeast corner of the HBS campus. The facility is devoted to the Harvard Business School's Executive Education programs. At seven stories tall with about 150,000 gross square feet, it contains about 180 bedrooms for education students, in addition to academic and multi-purpose spaces. [44]

Kresge Way was located by the base of the former Kresge Hall, and is named for Sebastian S. Kresge. [45] In 2014, Kresge Hall was replaced by a new hall that was funded by a US$30 million donation by the family of the late Ruth Mulan Chu Chao, whose four daughters all attended Harvard Business School. [46] The Executive Education quad currently includes McArthur, Baker, and Mellon Halls (residences), McCollum and Hawes (classrooms), Chao Center, and Glass (administration). [47]

Notable alumni (MBA or DBA)

MBA

DBA

Executive education course attendees

Advanced Management Program (AMP)

Other executive education

See also

Related Research Articles

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Sources

Further reading