Importance of Management Education in India

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Management education has a vital role to play in today’s business environment, where everything changes so fast that it makes it difficult for organisations to survive the growing competition. This has led to the need for business schools in developing nations to impart relevant education to students, which reflects the changes in society. Also, schools need to be in close contact with industry.

Management Education is the latest academic discipline to arrive in the world of academia, hardly 100 years worldwide, it has been for less than 50 years on Indian scene. It has emerged as a vibrant field for professional education. It is today the most preferred choice for higher education, among young men and women of the country. Its demand will continue to rise and hence its qualitative growth needs serious attention.

The solution is that we need to do away with traditional departments. That will allow us…

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Keep your dream alive and kickin’!

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This story was told to me by my uncle about a man who lives in Himachal Pradesh and has a horse ranch. It all goes back to a story about a young man who was the son of an itinerant horse trainer who would go from stable to stable, race track to race track, farm to farm and ranch to ranch, training horses. As a result, the boy’s high school career was continually interrupted. When he was a senior, he was asked to write a paper about what he wanted to be and do when he grew up.

“That night he wrote a seven-page paper describing his goal of someday owning a horse ranch. He wrote about his dream in great detail and he even drew a diagram of a 200-acre ranch, showing the location of all the buildings, the stables and the track. Then he drew a detailed floor plan for a 4,000-square-foot house that would sit on a 200-acre dream ranch.

“He put a great deal of his heart into the project and the next day he handed it in to his teacher. Two days later he received his paper back. On the front page was a large red F with a note that read, `See me after class.’

“The boy with the dream went to see the teacher after class and asked, `Why did I receive an F?’

“The teacher said, `This is an unrealistic dream for a young boy like you. You have no money. You come from an itinerant family. You have no resources. Owning a horse ranch requires a lot of money. You have to buy the land. You have to pay for the original breeding stock and later you’ll have to pay large stud fees. There’s no way you could ever do it.’ Then the teacher added, `If you will rewrite this paper with a more realistic goal, I will reconsider your grade.’

“The boy went home and thought about it long and hard. He asked his father what he should do. His father said, `Look, son, you have to make up your own mind on this. However, I think it is a very important decision for you.’ “Finally, after sitting with it for a week, the boy turned in the same paper, making no changes at all.

He stated, “You can keep the F and I’ll keep my dream.”

MBA after Engineering: A link that can regulate your career!

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An MBA after engineering is a much sought-after option for pursuing post-graduation. But what relevance does an MBA have to the highly technical skills of a professional engineer, and is there a need for engineers to pursue MBA? The answer is YES! If you take and account, a large number CEOs of top-slot companies possess an MBA after engineering degree.

If you have an engineering degree, an MBA gives you more exposure to business-related topics you didn’t come across in engineering studies. A select few do opt for specialisation in engineering but others want wider roles with higher packages and a broader spectrum which an engineering plus MBA offers.

Learning how to solve different business problems and understanding marketing issues and management related issues are some key skills an MBA degree can teach you and help you to land senior management positions. Having already obtained a technical degree, an MBA completes your education in the wider areas of management that usually include subjects such as finance, marketing, human resource management, organisational behaviour, and management strategy. This is also important because the role of the engineer is changing; within an industry, an engineer is likely to be a manager who has to implement new practices and new technology. Thus the engineer often becomes the primary manager of change within the modern organisation, which again requires specific skills and learning. If an engineer wants to stay strictly within the realms of engineering, it might not be as important to get an MBA but if you want to advance and climb up the ladder, an MBA would serve to be handy and useful.

The engineering MBA graduate is hence well-versed in management knowledge, skills and techniques, as well as their technical engineering abilities. Having an MBA gives them confidence to apply these skills to develop ‘strategies for growth’ of their employing companies, making them indispensable and sought after. In the future, they will be among those who set the rules and have conversations about what should and shouldn’t be done in the way an organisation is structured and managed.

Factors of a fruitful MBA

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Studying for an MBA requires a huge investment of time, money and energy, so it is crucial to ensure your choice of programme and business school meets your needs. Before making your final choice, you should visit the campus to get a sense of the culture and atmosphere and to see whether you would fit in. Talk to students, professors who work in the industry you are aiming for.

If you’re not 100% sure what you want to focus on, that’s OK! Look for schools that have a strong general management program, so that you’ll get a firm grounding in the management and finance basics—skills you can apply to any post-b-school job. Discover more about the diversity and caliber of the faculty, plus their expertise and achievements. The following points will help you while opting for a bschool:

FACTORS TO CONSIDER WHEN CHOOSING A SCHOOL

  • Does the school offer the degree you want?
  • Is the tuition affordable?
  • Is the curriculum as broadly or as narrowly focused (or as flexible) as you’d like?
  • Is the class schedule flexible enough for you to meet your other commitments?
  • Do the accommodations (classrooms, media centers, libraries, housing facilities, etc.) meet your needs?

ADDITIONAL FACTORS THAT MAKE A BUSINESS SCHOOL DESIRABLE

  • Is the school known or qualifies for the high quality of its programs and graduates? Rankings lists can help you determine this, even if a business school isn’t top-ranked, it can still have a good reputation.
  • Does the faculty possess extensive education? Are the faculty members considered to be leaders in their fields?
  • Are the class sizes small? Is the student: teacher ratio low?
  • Are the professors committed to teaching? Are they available outside of class?
  • Does the school have a Career Placement Assistance system that actively works to assist graduates in finding internships and jobs?

HOW TO EVALUATE A BUSINESS SCHOOL

  • Read though their Web sites or promotional material — or use the tools on this site to browse though business schools, read about their programs, and request information.
  • Visit the school.
  • Sit in on classes.
  • Talk with students and faculty.
  • If you know which companies you’re interested in working for, talk to them, or read through their Web sites to find out what business schools and what types of programs they tend to hire from.

Look over the curriculum of the program you’re interested in, then consult the school’s catalog to study the relevant course descriptions.

What an MBA can give you?

What an MBA can give you?.

Accredited MBA courses and business schools seek to prepare students for senior management roles in business. They do this by exposing you to all areas of business including accounting, finance, marketing, and human resources. Unlike other Masters programmes which provide further specialization in a specific field, an MBA is interdisciplinary drawing from the fields of psychology, sociology, economics, accounting and finance.

The MBA curriculum seeks to provide corporations with candidates of the required managerial skill needed to run them. Arguments are made as to the stagnant nature of the MBA course in response to an ever-changing business environment but the fact still remains that 42 CEOs of the Fortune top 100 companies hold an MBA.  

If you don’t fancy a career in finance or consulting (the choice of the majority of MBA students), the skills you will acquire are certainly transferable to other roles, as evidenced by the MBA’s strong representation in other sectors. In fact, according to AMBA, 10 per cent of MBA graduates enjoy successful careers within industry, 9 per cent in healthcare, 9 per cent in public service, 5 per cent in energy and 5 per cent in the consumer goods sector.

 

Also remember that you’ll be receiving tuition from some great business minds both on a regular basis and via guest speakers specially invited to share their wealth of experience and knowledge with you. Your tutors and guest speakers are likely to be key personalities in their field and will bring with them a network of contacts for you to utilise. If you use this opportunity it’s likely that you’ll gain some sort of step up within your chosen field.

What an MBA can give you?

Image

Accredited MBA courses and business schools seek to prepare students for senior management roles in business. They do this by exposing you to all areas of business including accounting, finance, marketing, and human resources. Unlike other Masters programmes which provide further specialization in a specific field, an MBA is interdisciplinary drawing from the fields of psychology, sociology, economics, accounting and finance.

The MBA curriculum seeks to provide corporations with candidates of the required managerial skill needed to run them. Arguments are made as to the stagnant nature of the MBA course in response to an ever-changing business environment but the fact still remains that 42 CEOs of the Fortune top 100 companies hold an MBA.  

If you don’t fancy a career in finance or consulting (the choice of the majority of MBA students), the skills you will acquire are certainly transferable to other roles, as evidenced by the MBA’s strong representation in other sectors. In fact, according to AMBA, 10 per cent of MBA graduates enjoy successful careers within industry, 9 per cent in healthcare, 9 per cent in public service, 5 per cent in energy and 5 per cent in the consumer goods sector.

Also remember that you’ll be receiving tuition from some great business minds both on a regular basis and via guest speakers specially invited to share their wealth of experience and knowledge with you. Your tutors and guest speakers are likely to be key personalities in their field and will bring with them a network of contacts for you to utilise. If you use this opportunity it’s likely that you’ll gain some sort of step up within your chosen field. So get-set and plunge for an MBA and set your careers to surge! 

We at Oakbrook Business School are aiming to make a difference…We believe in imparting quality education which will not only nurture your talent but will also provide you with umpteen opportunities to place a firm step in the dynamic world of business!