MBA is often a craze today. Many youngsters do MBA after their graduation. However very few of which know exactly what it exactly is and the things they should do to make most out of their investment. Most of these ignorant fellows finish up in wasting huge cash on a reduced institution that takes them nowhere in reality. Here are some things that you just got to know before deciding on an MBA.
1. Nomenclature:
MBA, abbreviated from Master in Business Administration is an internationally recognized PG course covering various business-oriented subjects, for example, Marketing, Finance, Human Resources
2. Origin:
Originated from the United States within the late nineteenth century, were only available in India in 1961 with IIMS that have been not authorized to supply MBA degrees and were issuing PGDM (Post Graduate Diploma in Management).
3. First b-schools of India:
IIM Calcutta was the first to be established using the collaboration of MIT Sloan School of Management. Next to follow was IIM Ahmadabad, in initial collaboration with Harvard Business School. In 1955, the University of Delhi initiated the Faculty Management Studies (FMS) and during 1968, first launched the MBA program for graduates.
4. The course is selected from i)
Course being selected from i) Full time and Industry Accepted ii) Regular 24 months iii) One Year Part-time for executives iv) Distance Learning online by weekends v) Open University vi) Finishing School Concepts.
5. Specialization Subjects:
General MBA provides alternatives for Marketing, HR, and Finance. IIMs and also other top b-schools provide some electives which do not attract student. Job prospects marketing 70% finance & HR 10% and balance 10% covers all specialization. Don’t get lured by low budget programs offering new specialization.
6. Special Courses:
Select institutes marked ‘specialized’ for specialized courses. Choose to join IIFT for Foreign Trade or IRMA for Rural Management. Other specialized courses are International Business, Entrepreneurship, Media Management, Healthcare, NGO & Rural Development, Tourism, and Travels, etc. Private institutes charging fees lower than Rs 6-7 lakhs can’t provide quality specialized courses.
7. Self-Interrogation:
Sort out the pros and cons regarding the course and institute you will select. What are your motivations such as prospective job openings or establishing your own business? Thinking of in-country education or abroad? Low budget course or much talked about institutes? Financial resources available or intending to avail of study loans. Which course with what investment will give you the optimum Return on Investment?
8. Selection procedure of foreign b-schools:
The base is GMAT or Graduate Management Admission Test, TOEFL, or Test of English as being a language and IELTS or International English Language Testing System. Letters of Recommendation and interviews are other ways of selection. Join merely the high-ranking ones.
9. Ranking of b-School
Ranking of b-School is completed by Bloomberg Business Week, US News & World Report, Eduniversal, the Economist, and. D& B gives a report on all b-schools in India and interviews associated () Leading Business Schools. Ranking up to top could be authentic whilst the rest could be manipulative, favoring a particular institute.
10. Qualifying Ability:
You are gaining the minimum cut-off marks in Common Admission Test or CAT. Check your past academic performance at matriculation or +2 levels. Your earlier good performance in mathematics and basic expertise in Economics, and Quantitative Techniques, good communication skills in English, both written and spoken, involvement in extracurricular activities, and perseverance will help you better after you join any b-school of your liking.
