Whether it is "XYZ," "Cognitors" or "Certified Masters of Business Administration," a move is afoot to create a new designation that distinguishes "experts" from the pack of graduate level and professional level business persons.
Testing will begin on May 5, 2003 for interested MBA graduates and students wishing to earn a Certified Masters of Business Administration (CMBA) certification. AccountingWEB first reported on the development of this program last summer.
The new certification program has undergone a first round of testing to determine proficiencies and skills learned in business school programs in order to earn a CMBA designation.
Slightly more than half of the MBA graduates who volunteered for the initial testing of the exam earned a passing grade - enough to earn the designation of CMBA.
"The overall results of the CMBA beta test confirm that attaining an MBA degree does not necessarily equate with being competent in fundamental business knowledge," said Paul Muchinsky, an MBA professor who helped create the test.
The new certification is not without controversy. Critics contend that MBA-based skills and knowledge are not as "standardized" as other competencies, such as law, medicine or accounting. Additionally, business schools fear that the new exam could be a new measure of their success, judging the school on the number of CMBAs that it produces, instead of evaluating the overall program.
The exam is being developed by the International Certification Institute and Prometric, which is also developing the new computerized CPA exam for the accounting profession. Details of the new certification may be found at www.certifiedmba.com.