Why MBA ?
The Master of Business Administration, commonly known as the MBA, is an internationally recognized postgraduate business degree. It is an academic in character i.e. awarded by universities but yet it stresses on practical aspects of management. In the broadest sense, the master of business administration degree represents a way of thinking, not just a set of financial skills and business knowledge. Given rapid technological change and increasingly global markets, there is an increasing need for MBA graduates who grasp the organizational and competitive possibilities enabled through and with information technology (IT).
Leading corporates the world over prefer to employ MBAs in managerial positions. The nature of responsibility, quality of work and possibilities for growth increase with an MBA degree. While most other masters degrees result in specializations leading to a narrow career stream, MBA opens the door to a wide range of career options. Needless to say, Management graduates from top business schools get a real fat pay cheque.
The MBA degree opens up worlds of opportunity for its bearers. Many business positions require an MBA for advancement. For example, investment banking and management consulting firms hire large classes of newly minted MBAs each year at six-figure salaries into the "associate" level -- those without MBAs generally don't advance past the "analyst" level. At major consumer products companies like Procter & Gamble, Kraft and Colgate-Palmolive, MBAs are hired as "assistant brand managers" into the brand management department -- those without MBAs are generally not eligible for the department. And it is from this function that these companies' senior executives are generally drawn.
IT is now the prime driver and enabler of business strategy for many, if not most, organizations. The shear size level of investment in IT and its impact on productivity and competitiveness demonstrates the need for MBA students – whether majoring in Marketing, Finance, Management, or other disciplines – to possess skills and knowledge inherent to the field of information systems. Among many other things, this knowledge is essential to:
Recognizing new or improved technology-enabled ways to reach customers, partners and consumers Managing information systems design, development and implementation Choosing and assessing information systems-related investments wisely Optimizing the benefits of technology for overall organizational gain
What is MBA?
The Master of Business Administration (MBA) is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The MBA degree has since achieved worldwide recognition. Accreditation bodies exist specifically for MBA programs to ensure consistency and quality of graduate business education, and business schools in many countries offer MBA programs tailored to full-time, part-time, executive, and distance learning students, with specialized concentrations. Each year, well-known business publications such as Business WeekFinancial Times, and the Wall Street Journal publish rankings of selected MBA programs that, while controversial in their methodology, nevertheless directly influence the prestige of schools that achieve high scores.
MBA stands for Master of Business Administration. It is an internationally recognized business degree, on equal standing with other postgraduate degrees like Master of Arts or Master of Science. It is academic in nature, yet it is a practical preparation for individuals in business and management. It often insists that students have a number of years of working experience before they take an MBA program, often as managers or senior managers.
MBA originated from America. The word renowned MBA is taught at the Harvard Business School more than 100 years ago! It is a 2 year full time program that trains students in business problems analysis and decision making. The types of MBA offered by private institutions and universities vary wide nowadays to suit the busy schedule of executives.
Over the years, MBA have grow into a matured industry with specializations like MBA in Information Technology, Finance, Human Resources, even Electronic Commerce! Despite their differentiation, the underlying principles of management do not vary too much. The specialization means the the course spend considerably more time focusing on issues & cases in the area of choice.
The delivery of the course itself has changed over the years. It used to be a 2 full year program, now known as the "classic" or full time MBA. These days, executive MBA is more common, in Malaysia at least. This is targeted to suit busy executives who do not want to miss out in their career progression.
The executive MBA is also known as the part time MBA, where students study and work at the same time. Lecturers and classes are usually held after office hours and weekends. And then there is the distance learning program where the classes are less frequent. And students are given the necessary materials to engage in self study, it is like a correspondence school. In more recent development, a form of distance learning via the Internet has gained popularity, known as the virtual MBA. Students can interact with tutors/lecturers via the Internet through chat or forums.
Atleast a 3 year bachelor's degree or equivalent in any discipline recognised by any Indian University / AICTE as eligible for post-graduate studies. Students in final year of graduation can also apply. Such candidates, if selected, will be allowed provisional admission with the condition that the mark sheet and a certificate of passing is produced by certain specified date.
Indian B-Schools have come a long way to become the source of some of the best management talent in the world. The IIM graduates get placed on par with graduates hailing from the best schools in the world.
Entry route to the best Colleges in India
The Common Admission Test (CAT) is the entry route to the best B-schools in India. Other exams include the Common Entrance Test (CET) for entry into management institutes in Maharashtra. However the selection process across most of the institutes is essentially same, comprising of the following.
The Aptitute Test Evaluates the candidate on Managerial ability in subtle manner Decision making capability under constraints of time and data Ability to eliminate unwanted choices
Personality Assessment comprising of: Group Discussion (GD) Communication - Clarity and Presentation (Articulation) v Listening skills Quality of Content (Knowledge) Team membership (Interpersonal Skills) Ability to influence (Leadership) Personal Interview Evaluates the candidate on Strengths and Weaknesses Career Objectives Academic Performance Communication skills Areas of interest Achievements Final selection to any business school is based on criteria such as the candidate's performance in Aptitude test, GD, Interview, Academic performance and Work experience.