Harvard Business School

Last updated
Harvard Business School
Harvard Business School shield logo.svg
Coat of arms
Type Private graduate business school
Established1908
Parent institution
Harvard University
Endowment US$3.8 billion (2020) [1]
Dean Srikant Datar
Academic staff
244 (2020) [1]
Administrative staff
1,989 (2020) [1]
Students865 (732 MBA) [1]
Location, ,
United States

42°22′02″N71°07′21″W / 42.36722°N 71.12250°W / 42.36722; -71.12250 Coordinates: 42°22′02″N71°07′21″W / 42.36722°N 71.12250°W / 42.36722; -71.12250
Campus Urban
Website www.hbs.edu

Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world [2] [3] and offers a large full-time MBA program, management-related doctoral programs, and many executive education programs. It owns Harvard Business Publishing, which publishes business books, leadership articles, case studies, and the monthly Harvard Business Review . It is also 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 analyze 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, opened in 2003), [15] South Asia (India), [16] 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

In 2022, HBS is ranked 5th in the nation by U.S. News & World Report, [17] 3rd in the world by the Financial Times, [18] 2nd in the world by QS [19]

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 ]

Executive education

In 2015, executive education contributed $168 million to HBS's total revenue of $707 million. [20] This includes:

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. [25]

Business School Rankings
Global MBA
QS Global MBA (2023) [26] 2
Financial Times (2022) [27] 3
United States MBA
QS Global MBA: U.S. (2023) [28] 2
U.S. News & World Report (2023) [29] 5
Bloomberg (2022) [30] 2

Buildings

Older buildings include the 1927-built Morgan Hall, named for J.P. Morgan, and 1940-built Loeb house, named for John L. Loeb Sr. and his son, (both designed by McKim, Mead & White [31] [32] ), and the 1971-built Burden Hall with a 900-seat auditorium. [33] [34]

In the fall of 2010, Tata related companies and charities donated $50 million for the construction of an executive center. [35] The executive center was named as Tata Hall, after Ratan Tata (AMP, 1975), the chairman of Tata Sons. [36] The total construction costs have been estimated at $100 million. [37] 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. [38]

Kresge Way was located by the base of the former Kresge Hall, and is named for Sebastian S. Kresge. [39] 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. [40] The Executive Education quad currently includes McArthur, Baker, and Mellon Halls (residences), McCollum and Hawes (classrooms), Chao Center, and Glass (administration). [41]

Harvard University Skyline 2.png
Harvard Business School (left), Harvard Kennedy School (right), and Weeks Footbridge at sunset

Notable alumni

MBA

DBA

Executive Education

Advanced Management Program (AMP)

Other executive education

Case studies

See also

Related Research Articles

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Further reading