MBA Basics: MBA stands for Masters of Business Administration, and is a post graduate degree in Business Management. It is also one of the most sought after degrees in the world because of its value to people in business and administration. An MBA degree can benefit those in positions in business and management, especially those in executive and managerial positions.
An MBA Program offers a range of benefits for the successful applicant, including:
Business Knowledge: The MBA program and business schools give you valuable knowledge about business and all its related aspects. You learn about business strategies and concepts, not just on paper, but the training and internship required in an MBA course, teaches you how to use these skills in practical life and in day to day business operations.
Leadership Abilities: An MBA degree involves rigorous training, assignments, reports, presentations, and group projects, all of which give you the necessary abilities to handle real-life business situations. This helps to set you apart from those who do not have such expertise and can make you a leader in your chosen field.
Networking: The alliances that you form with your classmates or the network that you create is deemed as one of the most important and valuable things that an MBA program can give you. MBA graduates have often felt that the associations formed during the MBA course are resources that are invaluable and can be drawn upon for years after the MBA degree has been achieved.
Anyone thinking of applying for an MBA program could benefit greatly from learning more about the program beforehand, and finding out what an MBA is all about as well as what MBA institutions are looking for in applicants. This site aims to teach you about various aspects of the MBA program, enabling you to make a more informed choice and to be more prepared for what to expect.
Scope of MBA: No matter what we do or who we are, we certainly end up managing things – or being managed ourselves. Wherever there is a need for people to work together to accomplish anything – there is a need for management and leadership skills. The managerial role is critical for economic performance and producing conditions. A good manager makes work satisfactory and productive and always tries for the betterment.
Management education can help students achieve success in their career life along with their self-interests, future hopes, wishes and goals in life. This is the significant feature of management studies as compared with other field of studies. To any responsible persona in any of the organization, management skills would surely help achieve things in a structured manner. Almost all the business groups and organizations appoint management people these days, to take care of their different managerial divisions and departments. These business groups or organizations may include:
- Any specialized science organization and so on.
Applying the principles from the day to day functioning till managing the profit of a firm, students with management skills do the things differently and effectively and hence they are in great demand.
MBA Specialization: Management courses may differ as per their names and governing Bodies like a course may be approved by UGC, AICTE, or some other authority or it may be an autonomous course.
Marketing, Finance and Human Resources are the most common Specializations; there are some more specializations, which can be opt as per individual’s interest:-
- MBA in International Business
- MBA in e-Business
- MBA in Pharma
- MBA in Entrepreneurship
- MBA in Health Care
- MBA in Hospitality and Tourism
- MBA in Information systems
- MBA in Global management
- MBA in Health Care
- MBA in Hospitality and Tourism
- MBA in Industrial management
- MBA in Knowledge management
- MBA in Media
- MBA in Nonprofit and Government
- MBA in Sport management
- MBA in Technology management
- MBA in Telecommunications
- MBA in Biotech
- MBA in Retail Management
- MBA in Operations
- MBA in Banking and insurance
- MBA in Family Business
- MBA in disaster management
Eligibility :A second-class bachelor’s degree or equivalent with minimum 50% marks (45% for SC/ST candidates) in any faculty is the minimum requirement for most of the institutes. There are, however, some exceptions. The IIMs ask for just a bachelor’s degree in any discipline. Percentage is no consideration. Similarly a few other institutes like FMS have different eligibility requirements for students graduating from different streams, which may touch to a maximum of 60% to 65% also. Students appearing in the final year of graduation may also apply.
Each institute may have their own independent Admission Processes, However, most of them have a 2-stage process:-
Stage 1: Written admission test.MBA Aspirants are supposed to appear in written test as per their choice of Institute. Students are supposed to appear for one or more written entrance exam (CAT / MAT / SNAP / NMAT / IBSAT / ATMA / FMS / IIFT / eCAT / or state level exams…). Normally multiple-choice tests (Mathematics, English, logical reasoning, Data Interpretation & business awareness are various sections of such exams) conducted in centers across India.
Stage 2: Personality Assessment.Those who qualify through Stage 1 normally proceed to two stages of personality assessment:
Group Discussion: Your performance in a group, while discussing a topic of current importance, is evaluated by a panel of judges. Group Discussion is used to assess Candidate’s ability in terms of:-
- Communication skills.
- Contribution of ideas facilitating a discussion.
- The range and depth of his / her knowledge on topics of general interest.
- Initiative and leadership qualities.
Personal Interview : You are interviewed by a panel of specialists. The Personal Interview process normally takes place after the group discussions. In this interview, besides the validation of the information provided by the candidate in the application form, a candidate’s suitability for the management programme is assessed on basis of various personal attributes.
Past Academic Performance : Due weight is given to a candidate’s past academic performance also during the selection process.
Work Experience : Appropriate weight is also given to candidates having at least 6 months of full-time work experience.
Selection Process : Admissions to most of the Business Management Programs are carried out on the basis of interest and aptitude. Selections are done through a multi-mode procedure.
Admissions are made on the basis of:-
- Academic performance
- Performance in Entrance Test (CAT/MAT/SNAP/NMAT/IBSAT/ATMA/FMS/IIFT/eCATINDIA/other state level exams…)
- Performance in Group Discussions
- Performance in Personal Interview
- Work Experience
Admission Process for Government Institutes or State level Institutes are mainly based on written entrance exam, but for Private Institutes it is based on written exam followed by GD-PI or other procedure.
Know about MBA/PGDM/PGP: There could be various names of “2 Year full time management Programme” such as MBA, PGDM, PGP, PGDBM, PGDBA or else. Approvals may be different but Industrial exposure, placement, faculties, Infrastructure and other factors are more important to be considered then “Just Name of course”.
Normally 3 types of courses are available in India, all three options given below are 2 year full time post graduate management course.
- MBA: State level / central University or Deemed University
- PGDM: Autonomous Course with AICTE Approval
- PGP+MBA: :Two year Full time Autonomous course with MBA in distance learning mode.
Two Year Full Time Programme : such programmes are designed for fresh or experienced student who can join full time classes and have higher aims in mind.
Distance learning / Part Time : Such courses are designed for those students who are not able to attend full time classes, still wants to get “MBA Degree”. Normally such programmes do not offer Placements as candidate is already working but this kind of courses may help them for promotion or appraisal.
More details about MBA or PG Courses will be updated soon. Your suggestions are always invited.