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| | Welcome to the Wikademia '''Master of Business Administration Program''', part of the [[Business|School of Business]]. |
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| ==Introduction== | | ==Introduction== |
| This document will attempt to link and organize the information found here on WikiMedia and elsewhere on the internet to provide a comprehensive business education such as one provided by the top business schools in the world. | | This document will link and organize the information found here on WikiMedia and elsewhere on the internet to provide a comprehensive business education such as one provided by the top business schools in the world. |
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| A Masters in Business Administration (MBA) is unlike many other academic programs. While most Masters programs provide a further specialization within a particular school or discipline (such as law), an MBA is typically quite inter-disciplinary, drawing from the fields of psychology, sociology, economics and finance. | | A Master in Business Administration (MBA) is unlike many other academic programs. While most Master programs provide a further specialization within a particular school or discipline (such as biology), an MBA is typically interdisciplinary, drawing from the fields of psychology, sociology, economics, accounting and finance. |
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| As such, most of the material found within an MBA program is not unique to the world of business. Rather, an MBA provides exposure to the diverse concepts which are most useful to a person who is interested in succeeding in business within an easy to learn two-year bundle. Despite all the drinking and socializing, a MBA can be a lot of work. If you work through all the concepts referenced, it should take you quite awhile (probably 2,000+ hours). You're also going to have to get really good at Excel.
| | Most of the materials found within an MBA program are not unique to business. Rather, an MBA provides exposure to the diverse ideas which are most useful to a person who is interested in succeeding in business within an easy-to-learn two-year bundle. Completing an MBA requires a substantial time commitment; if you work through all the concepts referenced, then one can expect to dedicate around 2,000+ hours. Likewise, familiarity with spreadsheets such as Excel is necessary. |
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| Let's get started. | | Let's get started! |
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| ==Masters of Business Administration Core Course Overview== | | ==Core Learning Projects Explanation== |
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| Some MBA programs have a core course requirements in the fields listed below. For example core MBA program requirements, please refer to the core requirements of [http://en.wikipedia.org/wiki/INSEAD INSEAD], | | Some MBA programs have core course requirements in the fields listed below. For examples, please refer to the core requirements of [http://en.wikipedia.org/wiki/Cass_Business_School], [http://en.wikipedia.org/wiki/Rotterdam_School_of_Management RSM Erasmus], [http://en.wikipedia.org/wiki/INSEAD INSEAD], [http://mba.sciences-po.fr/us/deroulement.htm Sciences-Po], |
| [[http://mba.sciences-po.fr/us/deroulement.htm Sciences-Po]],
| | [http://www.hbs.edu/mba/academics/required.html Harvard Business School], [http://www.wharton.upenn.edu/mba/academics/curriculum/index.cfm Wharton Business School], [http://www2.gsb.columbia.edu/students/affairs/courseinfo/core.HTML Columbia Business School], [http://www.ashridge.org.uk/Website/Content.nsf/wDEG/One-year+Full-time+MBA+-+What+will+I+learn?opendocument Ashridge Business School] and [http://www.business.brookes.ac.uk/ Oxford Brookes University Business School]. |
| [http://www.hbs.edu/mba/academics/required.html Harvard Business School], [http://mba.wharton.upenn.edu/mba/academics/curriculum/core.php Wharton Business School], and [http://www2.gsb.columbia.edu/students/affairs/courseinfo/core.HTML Columbia Business School]. | |
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| Most MBA programs then have additional coursework on diverse subjects as well as advanced topics in the prior subjects.
| | Many MBA programs also have coursework on advanced topics based on these core subjects. Other diverse subjects (such as psychology) also may be included in an MBA curriculum. |
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| ==Coursework==
| | This listing of core learning projects attempts to replicate that core curriculum. |
| ===Basic Probability and Statistics===
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| The grounding for many futher concepts in business, as in other applied disciplines, is a thorough understanding of [[statistics]]. A good free source for understanding probability is http://www.dartmouth.edu/%7Echance/teaching_aids/books_articles/probability_book/amsbook.mac.pdf. In particular [[Wikipedia:Regression_analysis|regression analysis]] is going to be useful. Regression is fundamental to the concept of Beta in Finance, conjoint analysis in Marketing, and the pooling of risk in operations management.
| | ==MBA Core Learning Projects== |
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| The directions on how to perform an regression analysis in Excel can be found online at http://www2.hpu.edu/mlane/FIN640/Regression_in_Excel.htm. Once you have completed a few regressions in Excel, you have performed the highest level of statistical analysis which most MBA's become familiar with. Congratulations! You are ready to move on.
| | * [[Basic Probability and Statistics]] |
| | * [[Financial Accounting]] |
| | *[[Managerial Accounting]] |
| | *[[Corporate Strategy]] |
| | *[[Microeconomics]] |
| | *[[Macroeconomics]] |
| | *[[Decision Models]] |
| | *[[Corporate Finance]] |
| | *[[Marketing Strategy]] |
| | *[[Marketing Implementation]] |
| | *[[Organizational Behavior and Structure]] |
| | *[[Leadership]] |
| | *[[Operations Management]] |
| | *[[Negotiations]] |
| | *[[Ethics]] |
| | *[[Capital Markets]] |
| | *[[Media Management]] |
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| ===Financial Accounting=== | | ==External Links== |
| | | ===Related Books From Amazon=== |
| A good place to start is [[Accounting]]. While most MBA's are not a big fan of double entry book keeping, finance starts with accounting. Understanding what [[depreciation]] (the spreading of the cost of an <em>tangible</em> asset over time) and [[Accounting/Amortization|amortization]] (the spreading of the cost of an <em>intangible</em> asset over time) are is going to be essential to understanding corporate finance (if only because you are going to need to reverse out the effects from GAAP Income Statements to get cash flows).
| | * [http://www.amazon.com/Personal-MBA/lm/R2QO2OKO7RZ2NT/ref=cm_lm_dtpa_fvlm_cfa_2/104-5567874-4297555 Personal MBA] |
| | | * ''The Ten-Day MBA: A Step by Step Guide to Mastering the Skills Taught in America's Top Business Schools'', third edition, by Steven Silbiger, Harper Business, 2005. international bestselling summaries of the MBA coursework taught. |
| ===Managerial Accounting=== | |
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| [[Wikipedia:Management_accounting|Managerial Accounting]] refers to the broad application of accounting concepts to financial data with the purpose of being consumed by management. Such financial data, in contrast to [[#Financial Accounting|Financial Accounting]], does not have to comply with GAAP, the FASB, or the filing requirements of the SEC, since it is meant only for internal consumption within an organization.
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| The major subjects to learn include:
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| *[[Wikipedia:cost accounting|cost accounting]] | |
| *[[Wikipedia:activity based costing|activity based costing]]
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| *[[wikipedia:project costing|project costing]]
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| *[[Wikipedia:budgeting|budgeting]]
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| ===Microeconomics===
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| A good place to start is the Wikibooks course on [[Microeconomics]]. Particularly, the concept that in an industry with high competition firms make zero economic profit should be thoroughly understood; that fact of life is the foundation of much of cooperate strategy, and the root to how to make excess profits (that is, profits greater than your [[Wikipedia:Cost of Capital|Cost of Capital]]).
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| ===Macroeconomics===
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| Read the Wikibook on [[Macroeconomics]]. In particular, the working of currencys, current account deficits, and the relationship between economic performance, monetary policy, and interest rates will be useful for finance and (ultimately) [[#Capital Markets|Capital Markets]].
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| ===Decision Models===
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| Decision models are part of the core curriculum of many business schools. The reason why is probably because "average" performance of a firm is distinct from the implied performance of the averages, if the components which combine to create that average performance have differing distributions or deviations.
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| Decision models will typically cover the following concepts and software packages:
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| *[[Wikipedia:decision tree|decision trees]]
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| *[[Wikipedia:linear programming|linear programming]]
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| *[[http://www.decisioneering.com/crystal_ball/index.html Crystal Ball]] or [[http://www.palisade.com/risk/ @Risk]] simulation software. Download yourself a free trial, play with it for a month, working through the tutorials. You'll do alright.
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| ===Corporate Finance===
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| [[Finance]] is among the most stereotypically MBA things an MBA will learn.
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| If you want to understand corporate finance, learn thoroughly:
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| *what the implications of the [[Wikipedia:Modigliani-Miller_theorem|Modigliani-Miller theorem]]
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| *the [[Wikipedia:time value of money|time value of money]] | |
| *how to calculate the [[Wikipedia:Net Present Value|NPV]] of a project
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| *how to calculate the [[Wikipedia:WACC|WACC]] of a project or company
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| *how to do a decent [[Wikipedia:Discounted Cash Flow|DCF]]
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| Putting it all together, you'd get something called a model. That model will tell you how much any asset that generates cash flows (such as a stock) is worth. People in business think that this might be useful to know.
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| ===Marketing Strategy===
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| Key concepts to learn in [[Wikipedia:Marketing|Marketing]]:
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| * the 4 C's (Company, Context, Customers, Competition)
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| * the 4 P's (Product, Place, Price, Promotion)
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| ===Marketing Implementation===
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| Key concepts to learn:
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| * [[Wikipedia:Customer lifetime value|Customer lifetime value]]
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| * [[Wikipedia:conjoint analysis|conjoint analysis]]
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| ===Corporate Strategy===
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| Key concepts to learn:
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| * [[Wikipedia:Porter%27s_five_forces|Porters Five Forces]]
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| * [[http://amadeus.management.mcgill.ca/~mark.mortensen/orgweb/summaries/mse/content/Porter.html Positioning]]
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| * [[Wikipedia:Game Theory|Game Theory]]
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| * [[http://globecareers.workopolis.com/servlet/Content/fasttrack/20051012/CABOOKS12?section=ManagingBooks Sustainable Competitive Advantage]]
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| Good thing to read when the summaries of the concepts won't do:
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| * [[http://www.google.com/url?sa=t&ct=res&cd=9&url=http%3A%2F%2Ffaculty.washington.edu%2Fcastlej%2FENTRE475%2FArticles%2520of%2520interest%2FWhat%2520is%2520Strategy-Porter.pdf&ei=ZFdmRMWYCMHqaMvUzd4J&sig2=Cd8RuCoZbnd4QDmLvILozA Porter, What is Strategy?]]
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| ===Organizational Behavior and Structure===
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| Organizational behavior classes cover concepts such as:
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| *[[Wikipedia:Taylorism|Taylorism]]
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| *[[Wikipedia:Hawthorne Effect|The Hawthorne Effect]]
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| *[[Wikipedia:Social network|Social Networks]]
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| *[[Wikipedia:Organizational Behavior|Organizational Behavior]]
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| ===Leadership===
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| Leadership classes might cover:
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| *the ideas of [[Wikipedia:Robert Cialdini|Robert Cialdini]]
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| *the results of your [[Wikipedia:MBTI|Myers-Briggs test]]
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| Generally, understanding yourself and influencing other people is the focus of a leadership class. A fair bit of [[#Negotiations|Negotiations]] content might be thrown in as well.
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| ===Operations Management===
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| Operations classes typically cover:
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| * [[Wikipedia:Supply Chain management|Supply chain management]], in particular the [[Wikipedia:Newsvendor|Newsvendor]] model
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| * [[Wikipedia:Six Sigma|Six Sigma]] and other quality management concepts
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| * Risk pooling-that is, the managerial signifance of the fact that when you combine two processes the deviation increases by the square of the summation (because variances are additive, standard deviations are not). Risk pooling is often the root cause of [[Wikipedia:economies of scale|economies of scale]].
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| * [[Wikipedia:Queueing theory|Queueing theory]] which is helpful is you want to optimize business processes.
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| ===Negotiations===
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| [[Wikipedia:Negotiations|Negotiating]] is important for business at many levels. [[http://www.amazon.com/gp/product/0140157352/sr=8-1/qid=1147551981/ref=pd_bbs_1/103-9077880-7298216?%5Fencoding=UTF8 Getting to Yes]] seems to be the core text to understand how to sucessfully achieve good outcomes from negotiations. A good summary of Getting to Yes can be found many places online (such as at http://www.colorado.edu/conflict/peace/example/fish7513.htm). Read that and you're all set.
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| ===Ethics===
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| Probably read up on [[Wikipedia:Sarbanes Oxley|Sarbanes Oxley]]. Also, reading [[http://www.peace.ca/kindergarten.htm these important tips]] would probably be useful.
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| ==Additional Coursework==
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| ===Capital Markets===
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| The two central concepts in capital markets are:
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| *[[Wikipedia:Arbitrage|Arbitrage]]
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| *[[Wikipedia:Risk Premium|Risk Premium]]
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| With those concepts, (and the ideas learned in [[#Corporate Finance|finance]]), you can price:
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| *[[Wikipedia:Fixed Income|Fixed Income]]
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| *[[Wikipedia:Swap|Swaps]]
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| *[[Wikipedia:Forward price|Forward Rates]]
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| ==Further Reading== | | ==Further Reading== |
| | | *[http://www.amazon.com/gp/product/1591840570/qid=1147720345/sr=2-3/ref=pd_bbs_b_2_3/102-2363331-7851323?s=books&v=glance&n=283155 Competition Demystified] by Bruce Greenwald |
| [[http://www.amazon.com/gp/product/1591840570/qid=1147720345/sr=2-3/ref=pd_bbs_b_2_3/102-2363331-7851323?s=books&v=glance&n=283155 Competition Demystified]] by Bruce Greenwald
| | *[http://www.amazon.com/gp/product/0425098478/qid=1147720399/sr=2-1/ref=pd_bbs_b_2_1/102-2363331-7851323?s=books&v=glance&n=283155 The One Minute Manager] by Kenneth Blanchard and Spencer Johnson |
| | | *[http://www.amazon.com/gp/product/0142000280/qid=1147720483/sr=2-1/ref=pd_bbs_b_2_1/102-2363331-7851323?s=books&v=glance&n=283155 Getting Things Done] by David Allen |
| [[http://www.amazon.com/gp/product/0425098478/qid=1147720399/sr=2-1/ref=pd_bbs_b_2_1/102-2363331-7851323?s=books&v=glance&n=283155 The One Minute Manager]] by Kenneth Blanchard and Spencer Johnson
| | *[http://www.amazon.com/gp/product/0471733067/qid=1147720524/sr=2-1/ref=pd_bbs_b_2_1/102-2363331-7851323?s=books&v=glance&n=283155 The Little Book that Beats the Market] by Joel Greenblatt |
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| [[http://www.amazon.com/gp/product/0142000280/qid=1147720483/sr=2-1/ref=pd_bbs_b_2_1/102-2363331-7851323?s=books&v=glance&n=283155 Getting Things Done]] by David Allen
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| [[http://www.amazon.com/gp/product/0471733067/qid=1147720524/sr=2-1/ref=pd_bbs_b_2_1/102-2363331-7851323?s=books&v=glance&n=283155 The Little Book that Beats the Street]] by Joel Greenblatt
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| ==About the Contributors== | | ==About the Contributors== |
| | One of the first contributors to this curriculum overview was John O'Brien. John received his MBA from Columbia Business School in 2006. He can be contacted online at [http://www.pulplit.net/contact-us/ pulplit.net]. |
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| One of the first contributors to this curriculum overview was John O'Brien. John received his MBA from Columbia Business School in 2005. He can be contacted online at [http://www.pulplit.net/contact-us/ pulplit.net].
| | [[Category:Master of Business Administration]] |
| | [[Category:Business]] |
Welcome to the Wikademia Master of Business Administration Program, part of the School of Business.
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Introduction
This document will link and organize the information found here on WikiMedia and elsewhere on the internet to provide a comprehensive business education such as one provided by the top business schools in the world.
A Master in Business Administration (MBA) is unlike many other academic programs. While most Master programs provide a further specialization within a particular school or discipline (such as biology), an MBA is typically interdisciplinary, drawing from the fields of psychology, sociology, economics, accounting and finance.
Most of the materials found within an MBA program are not unique to business. Rather, an MBA provides exposure to the diverse ideas which are most useful to a person who is interested in succeeding in business within an easy-to-learn two-year bundle. Completing an MBA requires a substantial time commitment; if you work through all the concepts referenced, then one can expect to dedicate around 2,000+ hours. Likewise, familiarity with spreadsheets such as Excel is necessary.
Let's get started!
Core Learning Projects Explanation
Some MBA programs have core course requirements in the fields listed below. For examples, please refer to the core requirements of [1], RSM Erasmus, INSEAD, Sciences-Po,
Harvard Business School, Wharton Business School, Columbia Business School, Ashridge Business School and Oxford Brookes University Business School.
Many MBA programs also have coursework on advanced topics based on these core subjects. Other diverse subjects (such as psychology) also may be included in an MBA curriculum.
This listing of core learning projects attempts to replicate that core curriculum.
MBA Core Learning Projects
External Links
- Personal MBA
- The Ten-Day MBA: A Step by Step Guide to Mastering the Skills Taught in America's Top Business Schools, third edition, by Steven Silbiger, Harper Business, 2005. international bestselling summaries of the MBA coursework taught.
Further Reading
About the Contributors
One of the first contributors to this curriculum overview was John O'Brien. John received his MBA from Columbia Business School in 2006. He can be contacted online at pulplit.net.
