Published Paper Details:

The demand for Master of Business Administration (MBA) education has grown substantially over the past several decades, with the degree widely perceived as a gateway to managerial and leadership roles. Despite its popularity, the prestige and perceived value of the MBA have fluctuated, prompting ongoing debate regarding its effectiveness in preparing graduates for contemporary organizational challenges. Critics frequently argue that MBA programs emphasize theoretical knowledge at the expense of practical application. This paper reviews the existing literature to examine the effectiveness of MBA programs from the perspectives of three key stakeholder groups: students, faculty, and employers. Specifically, it explores students' expectations and whether these expectations are fulfilled, faculty concerns regarding curriculum relevance and leadership preparation, and employer expectations of MBA graduates' workplace performance. Based on the reviewed literature, the paper also proposes recommendations to enhance the effectiveness of MBA programs and improve satisfaction among all stakeholders.