The Harvard Business School has announced that it will accept GRE scores for admission to all its business schools. The announcement came on 21st May. It is followed by the earlier decision of using the GRE scores for admission to its 2+2 programs.

HBS managing director of Admissions and financial aid said that he was happy to broaden and extend the requirements to give all MBA candidates the option of submitting results either from GRE or GMAT. Thus, candidates are now no longer required to take both GMAT and GRE because like many other MBA schools Harvard now acknowledges that a candidate who has thrived the GRE can thrive their MBA program too and there is no need for the candidate to clear GMAT. This move is going to help candidates because many candidates who apply for MBA are at the same time looking for many other courses as probable options, admission to which requires clearing GRE.

The decision is consistent with Harvard’s move to find business leaders out of the purview of traditional business schools, that is from consultant firms, college business programs and investment banks. It also establishes that GRE is a credible competitor to GMAT and therefore more business schools are likely to follow suit very soon and allow GRE scores as a credible option for their admission procedures.

In the wake of this news, the Graduate Management Admission council is thinking of plans to launch the next generation GMAT exam, which is expected to hit the market in 2013.