Based on the Rector’s Decree of Universitas Katolik Widya Mandala No. 48/Rek/UNIV/1968, dated September 1, 1968, the Faculty of Economics was officially established. This decree was applied retroactively from September 1, 1965. Furthermore, based on the Registration Certificate from the Directorate General of Higher Education, Ministry of Education and Culture No. 30c/PT/III/1969, the Corporate Economics Study Program of the Faculty of Economics obtained Registered status. In addition to the Corporate Economics Study Program, UKWMS also established the Vocational Education Institute, Associate Degree in Accounting program, under the coordination of the Faculty of Economics, on November 1, 1974, based on the Decree of the Central Widya Mandala Foundation No. 045/Sek/Ya/1974 dated November 1, 1974.
Starting from the 1983/1984 academic year, per the Decree of the Dean of the Faculty of Economics of Universitas Katolik Widya Mandala No. 263/WM.05/Q/1983, dated July 1, 1983, the Corporate Economics Study Program was renamed the Department of Management. In line with the Decree of the Minister of Education and Culture of the Republic of Indonesia No. 0211/U/1982 dated June 26, 1982, the Faculty of Economics began offering a Bachelor's Degree Program (S1) in Management starting from the 1983/1984 academic year. The program implementation was carried out gradually. Therefore, beginning in the 1983/1984 academic year, the Faculty of Economics operated two systems: The New Program, a Bachelor's Degree Program (S-1) using the semester credit system (SKS), and The Old Program, using the annual system (Associate Degree and Bachelor's Degree).passing outThe old program was gradually phased out, and by the 1985/1986 academic year, the Faculty of Economics fully operated under the semester credit system for the Bachelor's Degree Program. Based on the Decree of the Minister of Education and Culture of the Republic of Indonesia No. 071/0/1985 dated February 18, 1985, the Bachelor's Program in Management was fully recognized.
The equivalency status for the Management Department was obtained in 1990 through the Decree of the Minister of Education and Culture of the Republic of Indonesia No. 016/O/1990 dated January 11, 1990. Subsequently, on January 17, 1990, based on the Decree of the Minister of Education and Culture No. 039/O/1990, the Diploma III Program in Accounting obtained Registered status.
On September 1, 2010, the Faculty of Economics transformed into the Faculty of Business. This transformation was formalized through the Decree of the Board of Trustees of Widya Mandala Surabaya Foundation No. 091/YWMS/SK/VIII/2010. The transformation of the Faculty of Economics into the Faculty of Business was aimed at meeting stakeholder expectations in response to the global development of business schools. stakeholder akan sekolah bisnis yang sedang berkembang di seluruh dunia.
In 2010, marking its 45th anniversary on September 1, the Faculty of Economics at Universitas Katolik Widya Mandala Surabaya officially transformed into the Faculty of Business to meet the growing needs of stakeholders.stake holderIn 2011, the Department of Management developed the International Business Management program with a specialization Supply Chain Management in Supply Chain Management, which welcomed its first cohort of students in the 2012/2013 academic year. In 2019, responding to the demands of the business world and the Fourth Industrial Revolution (Industry 4.0), which requires graduates proficient in technology, Digital Bisnis Manajemen program officially commenced student admissions in 2019. Both the IBM and DBM programs operate independently within the Management Study Program. The establishment of these two new programs is based on the Decree of the Board of Trustees of the Widya Mandala Surabaya Foundation No. 149/YWMS/SK/VII/2018, dated July 26, 2018.