MBA can be a craze currently. Many youngsters expect to do MBA after their graduation. However very few of which fully realize just what it exactly is and what you should do to make most out of their investment. Most of these ignorant fellows finish up wasting huge money on an inferior institution that can them nowhere in reality. Here are some things which you got to know before opting for an MBA.
MBA, abbreviated from Master in Business Administration is an internationally recognized PG course covering various business-oriented subjects, for example, Marketing, Finance, Human Resources
Originated from the United States inside the late nineteenth century, were only available in India in 1961 with IIMS which are unauthorized to make available MBA degrees and were issuing PGDM (Post Graduate Diploma in Management).
3. First b-schools of India:
IIM Calcutta was the first person to be established while using a 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. Course to get selected
from i) Full time and Industry Accepted ii) Regular 2 years 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 options for Marketing, HR, and Finance. IIMs and other top b-schools give you some electives that do not attract students. Job prospects marketing 70% finance & HR 10% and balance 10% covers all specialization. Don’t get lured by cheap 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 in International Business, Entrepreneurship, Media Management, Healthcare, NGO & Rural Development, Tourism, and Travels, etc. Private institutes charging fees less than Rs 6-7 lakhs can’t provide high-quality specialized courses.
Sort out the pros and cons intended for the course and institute you are going to select. What are your motivations such as prospective job openings or establishing your business? Thinking of in-country education or abroad? Low budget course or visible institutes? Financial resources available or aiming to avail of study loans. Which course in doing what investment gives 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 like a foreign language and IELTS or International English Language Testing System. Letters of Recommendation and personal interviews are other methods of selection. Join just the high-ranking ones.
9. Ranking of b-School
s conducted by Bloomberg Business Week, US News & World Report, Eduniversal, the Economist and. D& B gives a list of all b-schools in India and interviews associated () Leading Business Schools. Ranking around the top ten could be authentic whilst the rest could be manipulative, favoring a particular institute.
10. Qualifying Ability:
You are to attain 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 knowledge of Economics, and Quantitative Techniques, good communication skills in English, both written and spoken, involvement in extracurricular activities and perseverance will assist you to better as soon as you join any b-school of your liking.