MBA Programs – The Right Choice
- Management schools work like finishing schools; graduates from other disciplines (technology, arts, commerce) can seek a degree in business administration from the best MBA programs to sharpen their managerial skills. A management degree equips you with the right work ethic to run business ventures, gives you the right base to start a business enterprise, and provides holistic personality development.
- Indian companies and MNCs working in the country cannot work in isolation. They will need managers from different types of MBA programs who can strategize and plan operations in the global market.
- The Boston Consultancy Group identified 100 companies from rapidly developing economies that are globalizing their business and are poised to become global challengers. 21 such companies are from India alone, with combined revenues of US$ 93 billion. These companies will need top class managerial talent; people not with just an engineering or IT degree but with managerial skills and with a background of knowledge in international business operations.
- Pursuing an MBA after a few years as a business analyst or project manager at a reputed Indian company, is also the right choice for a number of pay offs. A good MBA programs helps update your skills and refresh your mind, teaching you to handle old situations in a new way
Right age to do an MBA
- Pursuing a Master of Business Administration (MBA) degree be it a full time MBA programs or otherwise has nothing to do with age. However, you must know your goals and your expectations from the course. If you feel you should go in for a doctorate degree in management instead, then do so
- Indian students usually opt for a full time MBA program n MBA immediately after completing their undergraduate studies. At this time, they are in their early twenties and may not have any work experience. Students in many U.S. business schools are older and have worked for a few years before pursuing business studies. If you attend an international business school and you have not worked before, you may be at a disadvantage in class discussions that expect a certain degree of corporate knowledge from the participants.
- If you have short-listed a business school where the average age of students is much below or above your present age, you may feel out-of-place in the classroom
Which MBA program should you choose?
- You are going for a graduate study in business and have finally decided to choose to do an MBA from the plethora of MBA programs available. Though this may feel like your biggest decision you will find that it is just the beginning
- The different kind of programs you will come across can leave you feeling confused, and unsure as to how to go about choosing the best MBA program that suits you.
- Don’t worry; this is normal, we hope that on reading this you will feel a lot more confident in making your decision.
Below are the different types of MBA programs that are open to you:
- Part time MBA: Allows you to continue working in your current job and attend classes in the evenings. This program takes three or more years to finish.
- Full time MBA: You will have to join the business school full-time as a student, and perhaps even live on campus. A full time MBA program normally takes two years and sometimes taking even twelve or sixteen months to complete.
- Executive MBA: If you have at least five years of professional experience, this program is a better option for you. It allows you to keep your work schedule, the classes are held full time weekdays as well as weekend options are available, and you skip the basics that are taught in normal MBAs, moving straight to advanced courses. Unlike a full time MBA programs, this is a course for people with experience in middle to senior-level management.
- Certificate Program: This program is actually not an MBA Program; rather it is a management certificate. It allows you to specialize in a particular area of interest to gain skills that are important in a field and are highly valued in your specific job market.
The best MBA programs around the world emphasize on diversity and want a multi-cultural diverse environment filled with people from different countries, cultures, and viewpoints. There is a very good reason for this
- You will learn the value of maintaining a global perspective, and eliminate inherent prejudices.
- International based organizations will be interested in hiring you as you will acquire valuable skills in international management.
- You will learn to understand and accept the differences in your fellow students as well as to express your own views and beliefs.
Will you really get a diverse environment?
Well, let’s take an example of an international school to see just how much diversity there can be. The Rotterdam School of Management in the Netherlands is an international school. In the class of 2004, 48% of the students were European, 26% were Asian, and there were a significant number of students from Central and South America, Mexico, and the Middle East. An Indian would be a part of the small population of students from Asia that make a little more than a quarter of the whole. They would definitely be experiencing a diverse culture environment in such an MBA programs
Most international MBA courses require you to learn another language besides English. It is very beneficial for you if you already are familiar with a foreign language. There are many international programmes that run bilingual programmes such as Spain’s ESADE that holds classes in Spanish as well as in English. Whether you choose to take classes in a foreign language or not it is always beneficial for you to have learnt another language as it adds to the international experience and makes you more valuable to business companies.
Although it might seem odd to pursue an MBA if your goal is to work as a volunteer with your neighborhood non-profit organisation, the bottom line remains the same. Since for both kinds of organisations, i.e. for profit and non-profit, the goal is identical: the success of the company either in terms of money or in terms of the fulfillment of the mission. However, much of the skills that one learns in business school are directly applicable to work with nonprofits. By studying general business management, economics, finance, marketing, operations, and non-profit management, business school students gain a theoretical academic framework that highlights the fundamental forces in organizational management and business, certainly applicable to working effectively at the community level with any non-profit institution.
Non-profit MBA Graduates can work for a non-profit organization; independently as a consultant, or for the national, local or state government. Alternatively, graduates can work for a for-profit company in the area of corporate social responsibility, corporate volunteer programs or corporate philanthropy. These jobs often fall within the Community or Public Affairs Departments.