Although Indian students are famous all over the world and the demand for Indian brain still remains the highest across the globe but still according to the figures of a survey 25% of the Indian population is still illiterate. Out of the 75% people who are literate only 15% of Indian students reach high school, 7% complete graduation and only 2-3% complete their post graduation. MBA the most commonly pursued post grad course by Indian students has gained a lot of demand in recent times. There are a number of reasons for this like an MBA degree helps in climbing up the corporate ladder for working professionals, higher salaries offered as and when the MBA degree gets added to you CV, but the biggest reason for the growing demand of this course is that it not just provides you with knowledge but gives an overall grooming or polishing to your personality which helps you become a professional.
The apex regulator for technical education - All India Council for Technical Education (AICTE) has revealed that there are 3644 Business schools in the country offering Master of Business Administration (MBA). While there are 308 institutions offering Post Graduate Diploma Management (PGDM). The top 5 MBA colleges in India according the report from Business today magazine are IIM- Ahmadabad as rank 1 followed by IIM- Calcutta, FMS Delhi, XLRI Jamshedpur and IIM- Bangalore.
But why should one pursue an MBA? Well that is a million dollar question as mentioned by me earlier as well different people have different reasons to pursue MBA. This can be as stated earlier by me as well growth in organization, getting a better salary and grooming of personality. Other reason for which people go for an MBA include change of profiles for the ones who are bored of working in their domain fields or maybe wanting to get a job abroad, some reasons can be even as weird as a girl who does not wish to get married after the completion of her graduation goes for an MBA so that her parents do not force her to get married for another year or two. There is also a lot of debate on the topic that whether it is better to go for an MBA directly after your graduation or you should get a few years work experience before you go for an MBA. Well frankly this again depends upon what is the career plan of a person and what exactly he wants out of an MBA. Taking a stand on this topic is difficult so I guess I should not do it.
Let us now discuss a bit about to how things are taught in an MBA college. Yes they have the traditional blackboard teaching, notes and exams like we have in school and graduation colleges but the difference is in how things are taught there. For example if you are being taught the 4 P’s of marketing it’s not just going to be taught by giving you its definition an explaining a bit about it. You are taught about it through an actual case study of an existing firm and exactly how these 4 P’s are being used by them in their company presently or were being used in the past, because of this way of teaching students don’t just understand what they are studying but also learn how to apply what they learn in real world. This is the reason it is often said that MBA is practical education and not theoretical education.
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