Q. Consider the following statements:

1. The first business school in the world, the Wharton School at the University of Pennsylvania, was established in 1881.
2. The first MBA course outside the US was established in 1950.

Which of the above is / are correct?
Answer: Both 1 and 2
Notes: Both are correct statements. The idea that business is a profession that depends upon skills that can be taught in a university is uniquely American. The first business school in the world, the Wharton School at the University of Pennsylvania, was established in 1881. The first MBA courses were initiated around 1900. The first MBA course outside the US was established in 1950. Today, there is no country in the world in which the MBA is not a prestigious academic degree.