MBA
Understand various aspects of MBA program duration, subjects taught, specializations, cost and what skills you will acquire.
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Before you take a leap into an MBA program it is important to understand what exactly an MBA program is. MBA as the name suggests is a masters degree in business administration. The degree focuses on technical concepts in various functions in management. Some schools also offer opportunities to apply these skills to real business challenges. The program offers candidates business management skills which will be useful all through the life in business management.
Business is everywhere - Business exists in every walk of life. Whether you are working in an oraganization, buying your food from a shop, talking over a phone or running an NGO you are dealing with different forms of business. Business management principles are required to run all businesses in the world. Learning management principles helps to run these businesses more efficiently.
Structure of MBA program - An MBA program is generally divided into two parts. The first part lays the basic foundation for advanced courses in management. The first part is common to all the students. If generally involves basic concepts from various areas in management like finance, operations, HR, IT, and marketing. The second part is focused on specialization. During the second part students take up advanced courses in their chosen field of interest.
Cost of an MBA program - The cost of an MBA program is determined by the reputation of the school, and whether the school is autonomous or affiliated to university. A government appointed body Shikshan Shulka Samiti regulates the fees charged by affiliated institutes. Depending on the school, you could pay anywhere between 20,000 (FMS, Delhi) to 12Lac (IIM-A).Case Study Method - Many of the top bschools around the world follow a case study method instead of being structured around traditional lectures and essay. In case study method the students study a challenge a company is facing. The students discuss the case in the class and try to apply the management theories they have learnt to develop a solution to the problem. Some schools divide the students in teams which are required to come up with their own analysis of the case and a possible solution. The schools which employ case study method select students from diverse backgrounds. This helps in enriching the in-class discussions.
Internships - Most full time MBA programs offer an internship at the end of first year and before the start of second year. Schools have a separate recruitment process for internships (also called summers). Internships offer best opportunity for the students to explore corporate culture. Recruiters also evaluate the performance of the candidate during internship and use it to decide whether the candidate should be offered full time employment.
Skills - MBA program help you gather following skills -
- Communication skills - During an MBA program students make many presentations in front of the class which helps them improve their communication skills.
- Team work - Student learn to work in teams and appreciate the viewpoint of other team mates.
- Leadership skills - Students learn a lot about leadership skills through various case studies and also from fellow students.
- Networking - MBA courses bring together students from diverse backgrounds and give opportunity for the students to network.
- Problem solving skills - Case study method teaches a student to analyze a case qualitatively as well as quantitatively and devise solutions while working in teams.
