The Educational Institutions are the gardens where the beautiful flowers blossomed always- beauty of nature, the beauty of human work and achievements and above all the beauty of character, which is seen on the face. What ever we look like depends on how we have lived, what we have thought and what we have done. Education is a channel, a process or a device to develop the potentialities of the individual to enable him to grow into a decent citizen. Education guides to meet challenges of life with courage and with humor. In specific, a job-oriented education made the students capable of seeking a job according to his aptitude, ability and competence. The Master of Business Administration, one of the professional educations is the best-known management qualification throughout the world. It can accelerate individual career, prepare him/her for promotion, and help him/her to have a complete career change.
NEED FOR MBA:
As the environment of organization-including economic, political, competitive, regulatory, and cultural factors becomes more complex, there is an increased demand for managers with the necessary skills, understanding, courage, and energy to tackle the difficult demands facing organizations of all kinds. To be a successful manager, an individual need skills in decision-making, financial analysis, and interpersonal relationships. He also needs the ability to apply those skills in a context of constraints, opportunities, and alternatives. Professional management programs are based on the premise that people can learn to manage all types of business situations more effectively. MBA programs not only help their students to develop skills that are highly valued by many employers, but the programs also present a theoretical context for solving many business problems.
*MBA – YOU:
The purpose of an MBA education is to provide training in the theory and practice of business management. An MBA is an effective tool to,
o To change your career
o To start your own business
o To gain the competitive edge in a competitive world
o To develop technical expertise and business savvy quickly
o To advance your career
o To gain valuable networking resources
o To enhance your financial position
o To enjoy greater job security
o To enjoy greater job satisfaction and self satisfaction
o To become a leader in an emerging field
o To develop your personality as a whole.
o To change your career
o To start your own business
o To gain the competitive edge in a competitive world
o To develop technical expertise and business savvy quickly
o To advance your career
o To gain valuable networking resources
o To enhance your financial position
o To enjoy greater job security
o To enjoy greater job satisfaction and self satisfaction
o To become a leader in an emerging field
o To develop your personality as a whole.
MBA - JOBS:
An MBA with different specialization streams prepares an individual to meet the greater demands of tomorrow's advanced industrialization. Some examples are given below.
Executive Jobs:
Whether you are seeking CEO jobs, CFO jobs, CIO jobs or other C-level jobs, an MBA is supreme to a career managing companies.
Management Jobs:
Senior Management job - Senior Management jobs are awarded to candidates and employees with applicable baccalaureate degrees and a master's degree in business such as an MBA.
Banking Jobs:
Consumer banking jobs deliver financial services to individual customers.
Commercial banking jobs deliver financial services to businesses.
Human resources jobs manage employee placement, salaries, and training
Bank administration / accounting job - Bank administration / accounting jobs handle the banks internal operations
Commercial banking jobs deliver financial services to businesses.
Human resources jobs manage employee placement, salaries, and training
Bank administration / accounting job - Bank administration / accounting jobs handle the banks internal operations
Finance Jobs:
Corporate Finance jobs help company find money, grow the business, make acquisitions, plan for it's financial future and manage any cash on hand
Money Management job - Money Management jobs manage stocks and bonds for institutional clients and are on the buy side of Wall Street
Insurance jobs help individuals and business manage risk to protect themselves from catastrophic losses and to anticipate potential risk problems
Real Estate jobs cover field such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development
Money Management job - Money Management jobs manage stocks and bonds for institutional clients and are on the buy side of Wall Street
Insurance jobs help individuals and business manage risk to protect themselves from catastrophic losses and to anticipate potential risk problems
Real Estate jobs cover field such as title insurance, construction, mortgage banking, property management, real estate appraisals, brokerage and leasing, and real estate development
Accounting Jobs:
Public and Managerial Accounting jobs focus on preparing financial statements and recording business transactions including computing costs and efficiency gains from new technologies, participating in strategies for mergers and acquisitions, quality management, developing and using information systems to track financial performance, tax strategy, and health care benefits management.
Marketing Jobs:
Product Management jobs have responsibilities including marketing and development of products of all types. Advertising jobs cover every media outlet including newspapers, magazines, TV, radio, and the Internet. Retailing jobs includes store management, buying, and merchandising.
CONCLUSION:
A Full-Time MBA costs Rs.2-3 lakhs in B-Schools and around 50000 t0 100000 in university and affiliated colleges and takes Two Years time duration. For a period of 2 years, MBA students strive sleeplessly over assignments, presentations, projects, group exercises and reports. This gives them good grounding for the nature of work they will eventually perform.
Before concluding this article, I would like to mention about the fact of MBA graduates at present. In the words of Robert Brown, Director of Recruitment and Management of Head Hunters Grant Thornton " I would venture to say 70 to 80 percent of the MBAs are not worth considering." In 1999, an article 'Why CEOs Fail by Henry Mintzberg and Joseph Lampel was published in Fortune. Holders of MBAs ran some 40 percent of the 100 largest companies. On examining failed CEOS, the authors found 38 had 'flopped' because of 'poor people skills' or 'bad execution'. (Tasmac Management Review March 2004) Recently Infosys Chairman and Chief Mentor N.R.Narayana Murthy expressed the opinion that 'our graduates are ill equipped. India today has over 5.3 million graduates even as industries face shortage of skilled labour '(Deccan Herald dated 16.1.2006) He also expressed an opinion that ' 75 pc of engineering graduates are incompetent and unfit to be employed in IT firms. (Deccan Herald dated 4.1.2006)
So, if you are an MBA aspirant, try answer the question sincerely- 'Is an MBA degree appropriate for ME?' ' Is the investment made on MBA is related to growing abilities, developing character, gaining education and training?' Evaluate your alternatives. Include factors such as the nature of job, job satisfaction and preferred sector of employment. The critical analysis certainly guides to take a right decision.
What skills are required for an MBA?
School officers handling the admission process of an MBA program are very particular about an applicant’s skills in mathematics. They take your undergraduate math grades very seriously. You may be able to get away with an explanation on your not-so-good undergraduate grade point average (GPA) but a fair to poor math performance will surely catch their attention.
If you think your math skills are not that great and your score in the math section of the GMAT (Graduate Management Admission Test) is less satisfactory, you can still make an effort to improve this weakness. You can enroll in a math course at a local university before deciding to apply for an MBA at a business school. Excellent math skills are an edge in the application process. Although your verbal skills may be great but your math performance is just average, you have smaller chances of being accepted to a top MBA program. However, your undergraduate GPA should not stop you from applying to A-list business schools. If you’re bent on pursuing an MBA degree, you still can do something about it especially your math skills as early as possible.
Your work experience is also a factor to take into consideration. A resume showing several job changes but those involving promotions won’t be much of a problem. However, if you have had a mix of different kinds of jobs resigning from one company every few months and moving on to another firm, that would be a disadvantage. The admissions officers normally consider applicants who had an extensive knowledge of their industry. An expertise in a certain profession is what they are looking for. Staying on to a particular job for three years is good enough. Latest reports even say that the average length of full-time job experience at top business schools has increased from three to five years now.
A good writing ability is another plus factor. This is initially evaluated through the essay that you are required to submit upon applying for an MBA program. What you write about your work experience and how well you write it in essay form will work to your advantage. You should have a well-structured essay using correct grammar, spelling and syntax. Understand that your writing skills won’t be limited to this essay requirement because throughout the course, you will be asked to do many assignment, reports and projects. In your application essays, be sure to state in detail your extraordinary experiences – both personal and professional. Schools do look for valuable experiences from their applicants which can be shared with other students. They may even disregard the GPA and GMAT scores to admit people with unique backgrounds in their program.
If you think your math skills are not that great and your score in the math section of the GMAT (Graduate Management Admission Test) is less satisfactory, you can still make an effort to improve this weakness. You can enroll in a math course at a local university before deciding to apply for an MBA at a business school. Excellent math skills are an edge in the application process. Although your verbal skills may be great but your math performance is just average, you have smaller chances of being accepted to a top MBA program. However, your undergraduate GPA should not stop you from applying to A-list business schools. If you’re bent on pursuing an MBA degree, you still can do something about it especially your math skills as early as possible.
Your work experience is also a factor to take into consideration. A resume showing several job changes but those involving promotions won’t be much of a problem. However, if you have had a mix of different kinds of jobs resigning from one company every few months and moving on to another firm, that would be a disadvantage. The admissions officers normally consider applicants who had an extensive knowledge of their industry. An expertise in a certain profession is what they are looking for. Staying on to a particular job for three years is good enough. Latest reports even say that the average length of full-time job experience at top business schools has increased from three to five years now.
A good writing ability is another plus factor. This is initially evaluated through the essay that you are required to submit upon applying for an MBA program. What you write about your work experience and how well you write it in essay form will work to your advantage. You should have a well-structured essay using correct grammar, spelling and syntax. Understand that your writing skills won’t be limited to this essay requirement because throughout the course, you will be asked to do many assignment, reports and projects. In your application essays, be sure to state in detail your extraordinary experiences – both personal and professional. Schools do look for valuable experiences from their applicants which can be shared with other students. They may even disregard the GPA and GMAT scores to admit people with unique backgrounds in their program.
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