Before Joining Mba

8/3/2019 Before Joining Mba

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Before joining mba what you should know - Presentation Transcript

1. Compiled by

AQME

(Association for Quality in Management Education)Before Joining MBA What You Should Know?

2. We welcomeyou to ...

3. What is an MBA?

o The MBA (Master of Business Administration) is an internationally recognised

and geographically portable post-graduate, post-experience academic course in a

number of subjects that together can be said to constitute the science of management.

o It is all about understanding the each and every aspect of business

dynamics.

o An MBA is about learning to work with people, because it is the people who

run businesses.

4. Genesis of MBA / PGDM

o The MBA designation originated in the United States, emerging from the late

19th century as the country industrializedand companies sought out scientific approaches

to management.

o Management education in India started in 1961 with IIMs. Since IIMs were

not having status of universities , they were not authorized to issue MBA degree. PGDM

(Post Graduate Diploma in Management) was coined for students completing

management programmes in IIMs and was later followed by all institutions (other than

universities that can give MBA degrees).

5. Origin of B Schools

o The world's first business school, the Ecole Suprieure de Commerce de

Paris, France, was established in 1819.

o The first business school in the United States, the Wharton School of the

University of Pennsylvania, was founded in 1881.

o Anecdotically, top French business school HEC was also created in 1881,

while Harvard Business School, founded in 1908, was born just one year after France's

prestigious ESSEC Business School.

6. MBA in India

PGDM (Only in India) Govt. of India started IIMs in 1961 IIM Calcutta was the first IIM

to be set up in collaboration with MIT Sloan School of Management, followed by IIM

Ahmedabad in collaboration with Harvard Business School during initial period.

The Faculty of Management Studies (FMS) of the University of Delhi which came into

existence in 1955 launched its MBA programme for fresh graduates in 1968.


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7. What motivates you to do MBA?

Improve Career Prospects

Learn new skills

Build professional network

Career change

Better payUpgrade educational qualifications

Start own business

8. What type of course to select?

o Full Time and Industry Accepted course

(AICTE / UGC Approval alone doesnt help much)

o Regular Two years / One year Executive MBA

o Part Time, Week end and On line Programmes

o Distance Learning / Open University courses

o Finishing School Concept (Experiential Learning for developing right

attitude, skill & Knowledge)

9. What Specialization to select? (For Normal B Schools)

o General MBA is the best with normal or functional specializations like

Marketing, Finance and HR . IIMs and other top B Schools dont lure students by offering

too many electives.

o Maximum jobs opportunities are in Marketing (70%) followed by Core

Finance and HR(each 10%), rest by all other specializations.

o Dual & Twin specializations have no added advantage.

o At all costs, avoid new specializations in low budget courses of universities

and its affiliated institutes (good faculty is problem).

o For specialized courses select specialized institutes. For Foreign Trade -

IIFT (http://www.iift.edu), for Rural Management IRMA (https://www.irma.ac.in/) and so

on.............

o Any private institute charging less than Rs 6 7 Lakhs fees cant afford to

provide quality education in specializations like International Business, Entrepreneurship,

Media Management, Healthcare, NGO & Rural Development , Tourism & Travel etc.

10. Begin with Questions (Before joining any MBA Course)

o What - What type of institutes you can get admission?

o Why - Why you want to do MBA for getting good job , starting your own

company as an entrepreneur or getting one more degree?


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o Where - Where can you afford to do MBA Foreign Country, any reputed

institute in India or any institute with low budget ?

o When - When you want to do MBA Just after graduation, after getting 4 -5

years experience, or along with your job?

o How - How will you pay back your fees and ROI for the same?

o Which - Which specialization attracts you or can get job for you?

11. How Overseas B Schools select students

Most programmes base admission on the Graduate Management Admission Test

(GMAT), TOEFL(Test of English as a Foreign Language) and IELTS (International English

Language Testing System)

Significant work experience

Academic Record

Essays

References or letters of recommendation

Personal interviewsExperience in Social work & Society upliftment

(Please dont join any foreign B School that is not highly ranked. You need to spend

minimum Rs 30 Lakhs with no guarantee of good placement in India or abroad)

12. Ranking of B Schools

International Rankings by Bloomberg Businessweek, US News & World Report,

Eduniversal , The Economist and FT.com

Eduniversal has started ranking B Schools in India (http://www.eduniversal-

ranking.com). D & B is also giving the listing of all B Schools in India and related

interviews (http://www.dnb.co.in/IndiasLeadingBusinessSchool/)

Rankings by various agencies in India are authentic and genuine at least up to first 10

or 20 ranks, but beyond that could be manipulated to favour the institutes which

advertise or financially support them.

13. Are you qualified to do MBA?

o Can you score minimum cut off marks of admission tests like CAT etc to

qualify for admission? Check the admission criteria of top B schools.

o How good is your academic performance in 10th, 12th and graduate

examinations? Good academic records help in getting good jobs.

o Have you got the basic knowledge of maths of 10th std. level to understand

Managerial Economics, Accounting and Quantitative Techniques during MBA

programmers? This is required for all specializations.

o How good are you in English Communication (both written & spoken) ?

o Are you good in Extracurricular activities like public speaking, debate etc?

o Can you work hard? Business school is an intense 16-hour-a-day kind of

place. After classes you need to study minimum 6 to 8 hours a day for two years.

o Have you got 2 to 3 years quality experience before taking up MBA ?


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o Have you consulted any reputed coaching centre, students of good B School

s or any subject expert for complete information on MBA admissions?

o Have you necessary skills and proper attitude to do MBA? Please check the

famous article 22 qualities that make a good B-school candidate of Business Week -

Excerpted from the book MBA Admissions Strategy by author A. V. Gordon published by

McGraw-Hill

http://www.businessweek.com/bschools/mbapremium/nov2005/bs20051111_2994.htm

14. CAT Admission Criteria

The Admission Criteria of Common Admission Test (CAT) - http://www.catiim.in/

conducted by the Indian Institutes of Management , the first step in the process of

seeking admission to the IIMs:

o Section I: Quantitative

o Section II: Logical Data Interpretation

o Section III: Verbal ability and Reading comprehension

15. MAT Admission Criteria

The Admission Criteria of MAT-Management Aptitude Test (MAT) - http://www.aima-

ind.org/management_aptitude_test.aspx - conducted on a national basis by All India

Management Aptitude Testing Service (AIMATS), 4 times a year i.e. December,

January/February /May / and September:

o Section I: Language Comprehension

o Section II: Mathematical Skills

o Section III: Data Analysis and Sufficiency

o Section IV: Intelligence and Critical Reasoning

o Section V: Indian and Global Environment

16. XAT Admission Criteria

The admission Criteria of XAT (Xavier Admission Test ) - http://www.xlri.net.in/

conducted by Xavier Labour Relations Institute (XLRI) on All India level:

o Section I: Verbal Ability

o Section II: Quantitative Ability

o Section III: Reasoning & Decision making ability

17. Other B Schools Examination

FMS Entrance Test (FACULTY OF MANAGEMENT STUDIES)

PG- CET (In all states) - common test for all states under final stages

ICFAI - IBSAT

IIFT Entrance Test (INDIAN INSTITUTE OF FOREIGN TRADE)

JMET (JOINT MANAGEMENT ENTRANCE TEST)for Post-Graduate Degree Programs in


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Management offered by the IITs & IISc.

NMAT (NARSEE MONJEE APTITUDE TEST)

SNAP- Symbiosis National Aptitude Test

18. 22 Qualities that make a good B-school candidate

(Excerpted from the new book, MBA Admissions Strategy

by author A.V. Gordon published by McGraw-Hill)19. How to select a management institute? (India)

o A large number of management institutes in India give wrong information

about their placement records, details of faculty and facilities of institute. Please visit the

institute personally and thoroughly check all such details with students of the institute.

o Most of MBA students at present get the job based on their Graduate

degrees alone and there is no value addition on doing MBA. Please check that the

institute you intend to join should have such programmes to give value addition over the

existing graduate degree and experience .

o Finishing School Concept (Industry Ready programmes) gives value

addition in normal B Schools for better placement.

o Brand Image (Industry Acceptance) of the institute brings good companies

for campus selection. Please check the details of previous selections including nature of

jobs with its future prospects

o AICTE / UGC approval is necessary but not sufficient . International

accreditation by EQUIS, AACSB and AMBA is more reliable (only IIMA & IIMB have EQUIS

accreditation till Jan 2011)

20. What is the significance of AICTE/UGC approved programmes?

o Must for Government jobs

o Basic requirement for Research / Doctoral studies

o Needed for Foreign studies and Job opportunities

o Any degree that is not from UGC approved university is illegal

o Easy bank loans

21. AICTE/UGC approval is necessary but not sufficient

o The two best management institutes of India namely Indian School of

Business (ISB), Hyderabad and Great Lakes Institute of Management , Chennai are notrecognised by AICTE and do not run UGC approved programmes , but are the most

sought after B - Schools in India. However ,except a few ,most of Non AICTE Approved

Colleges also dont provide decent internship or proper placement and dont have good

faculty , facility or infrastructure.

o Some of the Unapproved Institutions Running MBA Programmes With

Foreign Collaboration without AICTE Approval (http://www.aicte-


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india.org/unoreigninstitutions.htm) are able to place their students in reputed MNCs and

International organisations at very high salary. But the same is not true for all.

o Students should be doubly cautious and check the AICTE website for

Unapproved Institutes (http://www.aicte-india.org/misunapprovedinstitutions.htm )

especially under category of General Institutions . All that glitters is not gold.

22. B Schools that fool! [BBC Bewqoof Banao Colleges?]

Check their advertisements:

o Job offer letter of companies to all on the first day of joining the institute

itself

o 100% Job Guaranteed with Average Salary of Rs 8 Lakhs and above, Foreign

Jobs to all (more than even IIMs) Check their placement letters that could be fake also.

o Direct / Spot admission, Scholarship to all , offer of discount in fees etc.

o Latest subjects without proper faculty (hospital, retail, entrepreneurship,

foreign trade etc.), dual specializations in almost all latest & attractive combinations

o Compare themselves with IIMs or foreign B Schools established 50 -100

years back

o Ultra Modern Infrastructure, swimming pool, Wi - fi Campus, laptop etc.

o AICTE / UGC Approval for only publicity purpose and not for quality

programmes

o Foreign tour as a tourist or collaboration / student exchange with tier 3

universities

o International class brochures and websites

o Doctorate (PhDs) in irrelevant fields or subjects

o Amongst top 20 B - Schools of country & A++++ Ranking of their own

o Use ranking of main campus to other branches of the institute

23. Normal Background of business groups running Low Quality B Schools in India

(Whether approved by AICTE/UGC or not)

Started by:

o Failed Industrialists without any principles & values (To recover their losses

and to earn a lot at the cost of students)

o Unsuccessful Business Executives (To get undue mileage from their previous

qualifications and posts held)

o Corrupt Politicians & Education Mafias

(To convert Black Money into White by huge investment in infrastructure)


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o Knowledge Based Academicians

(Those who treat MBA qualification as just another degree)

(In India MBA is often called as Money+ BA degree. Money is taken away by the

Management of Institutes and students get not even BA equivalent qualification , competence

and salary)

24. Why MBA institutes have failed in India?

o Enrolling large number of low quality students who are not trainable /

teachable and have no interest in studies

o Commercialization without care & concern for quality of teaching, students

needs and industry expectations

o Low quality faculty (doctorates for namesake, author of books & articles

surviving on copy and paste philosophy, irrelevant industry experience, superficial

knowledge of subject and poor delivery & lack of communication skill )

o

Lack of ethics, values and sense of commitment on part of students, faculty& management (e.g. lack of passion for excellence, proper attitude of service before

self)

o Poor leadership and failure to create proper environment

o Assuming that AICTE / NBA / NAAC approvals are sufficient

25. FEES STRUCTURE of B Schools

o All reputed B Schools of North America, Europe and Oceania are very costly

Fees & Stay costs varying from Rs 30 Lakhs to 60 Lakhs (all inclusive)

o The popular institutes like ISB (Hyderabad), IIMs etc normally chargebetween Rs 7 Lakhs to Rs 20 Lakhs (New IIMs and management institutes of IITs charge

less).

o FMS Delhi charges very less fees for their high quality education, but most

of other institutes approved or run by Govt. Universities charging very low fees are other

type of FMS (Factory for Management Studies!) giving very low quality education, without

proper faculty, facility and infrastructure.

o Any private institute charging less than Rs 3 or 4 Lakhs fees may not be in

position to impart high standard education.

o But private B Schools charging high fees and comparing them with IIMs, also

may not be providing good quality education . These could be other type of IIM

Interested In Money! only.

26. Complete Information

For complete information on all MBA /PGDBM Programmes in India & Abroad Please

visit the website www.marcbschool.com

27. Director AQME (Association for Quality in Management Education)


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o AQME supports Finishing School concept and develops courses &

programmes that are carefully geared to respond to the diversity of corporate needs

ranging from sharp functional expertise and evolved strategic perspective , to the ability

to manage change.

28. Contact Us:

Management Academy and Research Centre (MARC)

No. 29 / 3 & 32 / 2, Kalena Agrahara, Next to Purva Panorama

Bannerghatta Main Road, Bangalore -560 076, India

Mobile: +91 96633 16590, 96633 16591 Phone: 080-2648 0855

Email: [email protected], [email protected] | [email protected]

Website: http://www.marcbschool.com/

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Before Joining Mba