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All Question to know about MBA

Posted by sudhirmangla August 30, 2008

ALL YOU WANTED TO ASK ABOUT MBA BUT DIDN’T KNOW WHO TO ASK
 
MBA Kya hai?
Quick, answer the Question?

Qn.
What is common to Bill Gates, Dhirubai Ambani, Narayana Murthy, Andy Grove, Mani Ratnam, Richard Branson and Rajat Gupta.
Ans.
They are all college drop-outs - wrong.
Ans.
They are all non-mba’- wrong.
Ans.
They are all businessmen- wrong.
Ans.
They are all successful men - obviously right
Well, besides being successful in their chosen fields, there is one common thread that runs through all these global leaders. Most of these men need no introduction, however for those who may not have heard of some of these men, here they are.
 
Bill Gates - Chief Software Architect, Microsoft.
Dhirubai Ambani - Founder of the Reliance Group
Narayana Murthy - Co-founder of Infosys.
Andy Grove - CEO, Intel Corp.
Mani Ratnam - Director par excellence of movies like Bombay, Roja, etc.
Richard Branson - Flamboyant founder of the British conglomerate Virgin Group.
Rajat Gupta - CEO McKinsey, the worlds most respected business consulting firm.
 
While two of them are MBA’s, the other five are not.
 
And the common thread that runs through all of them is that they have all known to be excellent managers.
 
So do you need an MBA to be a good manager and a successful businessman or professional ?
 
This million dollar questions will be answered in the following links.
What is an MBA all about ? Management Education in India Who can do an MBA? How does one seek admission to a B-school? When does one do a MBA? Where does one do an MBA? What is the scope of an MBA program? Part-time, Full time and Correspondence MBA MBA and a PGDM (The Degree vs. Diploma debate) What is the cost of MBA programs ? Why MBA Program ? What is MBA Program all about? What is an MBA all about ?
 
The Oxford dictionary defines management as "the process of administering and regulating resources under one’s control". The dictionary also defines education as "information about or training in a particular subject" or "an enlightening experience".
 
No small words these.
 
Together the terms management education symbolize any formal or informal learning experience that any scholar imbibes in the journey towards efficient planning, allocation and implementation of resources such as men, money and material.
 
Management education finds usage and applications at both micro as well as macro levels, right from a household level to a business organizational level. Typically, one associates the word ‘management’ with a corporate set-up, but there are many NGO’s, co-operatives who have made an impact on our economy because of professional management.


A co-operative organisation like National Dairy Development Board, which is responsible for the brand ‘Amul’, is a popular case study for professional managers. Infact NDDB founded IRMA, India’s topmost college for studies in Rural Management.
CRY and Actionaid, two of India’s foremost NGO’s (both non-profit organisations) have many a MBAs working full time in various capacities.
 
Political parties use services of MBAs to manage their party, conceptualize campaigns and awareness programs and create systems for cohesive functioning of all its wings.
The popularity of management education stems from the fact that over the past few decades, all educational or career spheres have shown crests and troughs. Management graduates on the other hand have been relatively insulated to the changes in the social, political and economic environment. This can be attributed to the versatility and multi-tasking abilities that management education imparts.
 
The role of the manager is multi-dimensional and dynamic in nature. It is very imperative for the manager to be adaptive and be at ease in any given area of responsibility. Therefore, we see a MBA taking up various other successful careers besides the standard corporate career. From P.Chidambaram to Arvind Swamy to Harish Bhimani, from Harsha Bhogle to Mani Ratnam to Nafisa Joseph, MBA education is the common thread that runs through these successful and talented professionals.
 
The list of successful entrepreneurs, CEOs and corporate bigwigs with MBA qualification is endless and reads like a global who-is-who. The premier Indian business schools like IIMs, XLRI, Bajaj and FMS have found a place on the global map. The top business schools of worldwide renown like Harvard, Kellogs, Insead, MIT have an impressive alumni profile. Over the past few years, Indian business schools have become popular headhunting grounds for global corporates seeking high quality professional expertise.
 
With such high demand and the status symbol associated with it, the MBA degree has become one of the most coveted and sought-after post-graduate qualifications in India. The test of the quality of a management institute depends on the quality of its output and hence corporate acceptance of the students is the standard benchmark to rate colleges. With more than 800 colleges offering an MBA degree or its equivalent in India, it is advisable to be ambivalent when it comes to making a choice of Institute.
 
The road into any A-grade Business school is difficult. It is not because the test and the admission process is very difficult, but more due to the sheer competition where some of the brightest students from all over India match their wits, for a few thousand seats. Hence preparation for such an admission process eases some of the hurdles that a student may otherwise face as they learn from those who have been through the grind and have come out trumps.
 
Remember that the admission process is not a test of intelligence, but an evaluation of managerial capabilities and aptitude. Hence the street-smart average college-goer has an even chance as the academically brilliant college topper to make it into the IIMs, as long as they possess the right skill sets and qualities.
 
 
Management Education in India
 
The history of management education in India can be traced back to 1961, when the Government of India and the Government of Gujarat in collaboration with Indian industry started Indian Institute of Management in Ahmedabad. The same year saw the beginning of another reputed Management Institute of India at Calcutta. Ever since, India has seen a spurt in the growth of Management Schools with over 800 schools offering Management Studies as an option. Management education has come a long way in India with IIM, Ahmedabad being ranked one of the top management schools in the Asia Pacific Region. That apart, there is many Institutes, which offer a MBA Program in collaboration with foreign universities, thus making the MBA option more attractive.
 
 
List of top Management Institutes in India offering a general MBA program
 
A + Grade

1. Indian Institute of Management, Ahmedabad
2. Indian Institute of Management, Bangalore
3. Indian Institute of Management, Kolkata
4. Indian Institute of Management, Lucknow
5. Xavier Labour Relations Institute (XLRI), Jamshedpur
6. Faculty of Management Studies (FMS), Delhi
7. Jamnalal Bajaj Institute of Management Studies, Mumbai
8. S.P.Jain Institute of Management, Mumbai
9. Management Development Institute, Gurgaon
10. Indian School of Business, Hyderabad
 
 
A Grade

1. Indian Institute of Management, Kozhikode
2. Indian Institute of Management, Indore
3. Bharathidasan Institute of Management (BIM), Trichy
4. T.A.Pai Management Institute, Manipal
5. Symbiosis Institute of Business Management, Pune
6. Xavier Institute of Management, Bhubaneswar
7. Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
8. Institute of Management Technology (IMT), Ghaziabad
9. SCMHRD
10. KJ Somaiya
 

B+ Grade

1. Sydenham College, Mumbai
2. SIES College of Management Studies, Mumbai
3. Amity Business School, Noida
4. Wellingkar’s Institute of Management, Mumbai
5. MET Business School, Mumbai
6. Goa Institute of Management, Goa
7. Loyola Institute of Business Administration, Chennai
8. Xavier’s Institute of Management Enterprise, Bangalore
9. UBS, Punjab University
10. School of Communication and Management, Cochin.
 
 
Specialised institutes
 
There are some reputed specialised institutions, which offer management courses. Before applying to them it is best to know their objectives, which may differ from yours. Some prominent institutes are:
 
XLRI
- In addition to a well-run MBA course, XLRI offers a specialisation course in Industrial Relations. This is highly rated among the courses in Personnel Management in India. The name XLRI - Xavier’s Labour Relations Institute misleads people into thinking that the institute trains only in labour relations. Please realise that they also conduct a well-recognised general MBA program.
 
TISS
- The Tata Institute of Social Sciences conducts an MA in Personnel Management, which is rated highly in the industry as a world-class qualification in that area.
 
IRMA
- Focuses solely on Rural Development using the co-operative model. It restricts placement to voluntary agencies and co-operatives. Besides IRMA, the other colleges that offer a program on rural management and marketing is IIM-Ahmedabad.
 
IIFT
- Focuses solely on foreign trade. Placement is thus largely in export departments/houses. It is widely rated as the best in India. The other colleges popular for International business are IMI, Delhi and SIFT in Pune.
 
NIFT
- Focuses solely on the garment industry. Placement is restricted to this area.

IIFM
- Focuses on the management of forest resources. Set up with help from IIM-A, it is getting good placement offers.
 
NITIE
- The Mumbai based institute focuses on Industrial Management and is well recognized in its field. The other colleges in this offering a similar program are the IITs, the best of which are the programs of IIT Bombay, Delhi and Kharagpur.

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