Growth of Business Schools and the Different Aspects of Business Discipline

Growth of Business Schools
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Growth of Business Schools
In the old days, it was believed that all that one needed to be a successful business manager could be found within the covers of a single book. Rather than spend four years in a business school, it was believed that one could easily educate self by reading a book. It was during this period that J. L. Nichols, who was the principal at the North-Western Business College published his book, The Business Guide; or Safe Methods of Business, and marketed it as a solution to all the needs of a business manager. Much to his credit the book contained all the important topics in business such as banking, mechanic’s arithmetic, business geography, letter writing, among others.
It was not until 1881 that the study of business as a distinct field complete with a fully developed curriculum began taking shape. The establishment of the University of Pennsylvania’s Wharton School of Finance and Economy served as the first step on the long and tedious journey. Joseph Wharton, an iron manufacturer, and successful businessman, had donated $100,000 to the university to be used in the development of a college program that trained men other than doctors, lawyers and clergy. The school started with 13 students. It was a three-year program at this point, taught by one part-time and one full-time professor. By 1984, the enrollment had risen to 113. It was also around this time that the curriculum was expanded to cover four years. Through the years, the concept was adopted by other universities and by the year 1911, 30 undergraduate business programs were being offered by all the universities in the U.S. 164 business colleges had been establis...