This degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific management and have been a part of the society ever since. MBA is one of the most popular post-graduate programmes in India and abroad. The two-year programme is a gateway to a number of job opportunities in the corporate world.
The core courses in an MBA program in India cover various areas of business administration such as human resources, accounting, applied statistics, business communication, business ethics, business law, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply-chain management, and operations management in a manner most relevant to management analysis and strategy.
MBA programs are usually two academic years. However, a 1-year course for MBA is also available in various colleges.
Many programs base their admission selection decisions on a combination of
- undergraduate grade point average
- academic transcripts
- entrance exam scores(GMAT & GRE)
- a résumé containing significant work experience
- letters of recommendation
- Personal interviews.
Some schools are also interested in:
- extracurricular activities
- community service activities
- volunteer work
- the student’s ability to improve the school’s diversity
- contribute as a whole to the student body
The Graduate Management Admission Test (GMAT) is the most commonly used and widely accepted entrance exam for admissions into MBA courses. Other entrance exams such as The Graduate Record Examination (GRE) are also accepted by almost all colleges offering MBA programs.
India is home to more than 3,000 business schools and colleges that offer Master of Business Administration (MBA).
PGDM stands for Post Graduate Diploma in Management. It is a 2 years program and also trains the students with the basics and application of management practices and techniques in a business or any organization.
PGDM is a course offered by colleges which are not affiliated with recognized universities or are not authorized to offer degrees. It is a diploma course offered by the institutes that are recognized by the All India Council for Technical Education [AICTE] and which are autonomous and not affiliated to any university.
Entrance exam is an important aspect for PGDM Admissions. CAT is among these exams and also one of the most popular for admission in PGDM & is accepted in almost all the colleges across India.
It is a computer-based test. Others entrance exams include GMAT, XAT, MAT, etc.
Difference between PGDM and MBA:
· This is a degree course.
· MBA degrees programmes are conducted by the universities, with lower chances of fraudulence.
· MBA programmes are more focused on the technical and theoretical aspects related to management rather than the adoption of practical knowledge.
· This is a diploma course.
· These courses are offered by the autonomous bodies, therefore check and verify that the college has got the essential accreditations.
· PGDM is more focused on the industry and its practical knowledge. This course is designed to develop the skills that are required in the current market.
The list of the most popular MBA specializations is as follows:
There are a number of courses and braches available in various colleges of India and it is important to understand and select the right college and course. A list of the best available courses and branches are given below:
- Human Resources
- Information Systems
- Operations Management
- MBA based on industry :
- Health / Pharmaceuticals / Biotech
- Marketing: MBA in Marketing offers a very dynamic and competitive career path. MBA in marketing helps a student to get a better understanding of various aspects such as consumer behaviour, market behaviour, aspects of advertising, and many other crucial skills that surrounds the marketing activities of any product/service. One needs to have excellent communication skills, resource mobilization skills and an added zeal to excel in this specialization.
The marketing department is the backbone of any organization. And thus they are responsible for bringing the business for them.
These positions are as follows:
- Head of digital marketing
- Brand manager
- Media planner
- Marketing manager
- Research analyst
Popular companies for MBA in marketing:
Top Colleges Offering MBA marketing Course:
- Indian Institute of Management (IIM-A), Ahmadabad.
- Indian Institute of Management (IIM-B), Kolkata.
- Indian Institute of Management (IIM-C), Bangalore.
- Faculty of management studies, New Delhi.
- Indian school of business, Hyderabad.
- Human Resources: MBA in Human Resources specializes in understanding the process, to acquire, manage and retain workforce within the organization. It also provides with the knowledge and ability to manage employees and the employer and resolve any issues arising between them and ensure a smooth and free-flowing relation between the two.
Other aspects including recruitment, selection, training and development, designing jobs, assessments and motivation (promotions/rewarding performance of employees), health and safety, etc are also taken care of by the HR.
Here are some popular job in the field of HR management in MBA
- HR Generalist
- HR recruiter
- HR specialist
- Compensation Manager
- Employee Relations Manager
- Training and Development Manager
- Change consultant
- Technical Recruiter
Top Colleges Offering MBA Human Recourses Course:
- Xavier Labour Relations Institute (XLRI), Jamshedpur
- SVKMs NMIMS (Narsee Monjee Institute of Management Studies), Mumbai
- Tata Institute of Social Sciences, Mumbai (TISS)
- Indian Institute of Social Welfare and Business Management, Kolkata (IISWBM)
- International School of Business and Media, Pune (ISB&M)
Popular companies for MBA in human recourses:
- Make my trip
MBA n finance deals with managing the company’s financial department.
It specializes in report analysis, forecasting economical trends, maximizing the stock value, maintaining a proper balance of risk and profitability choosing investment portfolios and also to apply the principles of financial risk management.
Job opportunities are available in both the private and the government sector.
An MBA in Finance can work in various fields which are as follows:
- investment banking
- tax planning
- financial statement reporting and analysis
- hedge fund management
- international finance
- asset finance
- Insurance management.
Top Colleges Offering MBA finance Course:
- Lal Bahadur Shastri Institute of Management (LBSIM), Delhi/NCR: PGDM
- Xavier Institute of Social Service (XISS), Ranchi: PGDM (Finance)
- KJ Somaiya Institute of Management Studies and Research, Mumbai: PGDM
- International School of Business & Media (ISB&M), Pune: PGDM (Finance)
- MIT-SOB: MIT School of Business, Pune: PGDM (Finance)
Popular companies for MBA in finance:
- State bank of India
- ICIC bank
- Information Systems: MBA in the Information system, deals with both the management as well as the IT department, it is designed to provide specialization in the IT sector as well as the business sector.
A number of job opportunities are available such as:
- web development
- project management
- designing of new systems
- IT marketing/ sales
- IT Consulting.
Top Colleges Offering MBA information system Course:
- Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
- Xavier Labour Relations Institute, Jamshedpur
- IIM, Ahmedabad
- Faculty of Management Studies, Delhi University, new delhi
- ICFAI Business School
Popular companies for MBA in information system:
List of other MBA specialization based on Industry:
- Health / Pharmaceuticals / Biotech: It includes various aspects like the legal, ethical and regulatory aspects of the pharmaceutical sector as well as product management and marketing research for introducing new products in the market.
- Media/entertainment/sports: It specializes in providing knowledge of various key factors in the area of media management. The topics taught may include: music, publishing, theatre, sports, radio among others.
- Non-Profit: Deals with providing the required skills and knowledge for the success of their non-profit organization including various community change solution, managing fundraising, marketing and fund allocation and leadership skills. Other specializations include international business, strategy, supply chain management or construction management.
List of the top entrance examinations available:
- CAT 2020 – Common Entrance Test
- XAT 2021 – Xaviers Admission Test
- MAT2020 – Management Aptitude Test
- SNAP2020 – Symbiosis National Aptitude Test
- NMAT2020 – Narsee Monjee Management Aptitude Test.
- CMAT2021 – Common Management Admission Test.
Advantages of doing MBA:
The following are some of the advantages in the field of MBA:
- Communications: It improves the standards of communication which in today’s world is one of the most important aspects that are required in the business industry.
- Networking: It helps you connect and meet different people from all over the world which comes in handy while managing business
- Short term course: MBA is available in both 1year courses as well as a 2-year course, which is also cost-effective. This is beneficial for already working individuals or people who need a kick start in their respective carriers.
- Job Opportunities: By doing MBA in any specialization you increase the job availability as it adds to the already existing degree and also beneficial if done for specialized industries such as hospitality, media etc.
- Improves interpersonal relations: It helps with marinating good relations not only with the people in your professional life but also, in your private life.
- Time Management: With a number of other managerial skills, time management is one the most important, by doing MBA, one gets a better understanding and experience in managing time, epically in the sectors with time crunch or deadlines.
Disadvantages of MBA
- Limited skill development: Certain Students studying for an M.B.A. typically work or specialize in a specific skill set while they’re pursuing their degree.
- Uncertain return on investment: Because of the high costs of M.B.A. study, the return on investment of an M.B.A. degree is uncertain