The Faculty of Business Management (FBM) came into existence following the Establishment Order No. 442 of 2002 as a supplement to Act No. 17 of 1992 which established the Open University of Tanzania. The Faculty of Business Management has evolved from a natural growth and expansion of the OUT programmes and faculties. The Business Studies Section which formed part of the Faculty of Arts and Social Sciences (FASS), co-existed with FASS since 1994 when the first batch of students pursuing Business Studies were admitted. The Faculty of Business Management Establishment Order No. 442 of 2002 provides for an independent and autonomous existence of the Faculty of Business Management, separate from the Faculty of Arts and Social Sciences.

The Vision of FBM

To be the leading world class business faculty in the delivery of affordable quality business education through open and distance learning, dynamic knowledge generation and application.

The Mission Statement

To continuously provide quality open and distance business education, research and public service for sustainable and equitable social economic development of Tanzania in particular and the rest of Africa.