MBA is an abbreviation for Master of Business Administration began around 100 years ago in the United States, and the concept of obtaining a professional MBA degree to manage a business efficiently spread throughout the world. MBA arrived in India in the 1950s. XLRI Jamshedpur and the IIMs were among the first to offer MBA programmes in India. However, B-schools and MBA students prefer to use the MBA short form rather than the MBA long form – Master of Business Administration.
MBA Courses are classified into several types based on their duration, mode of study, and target audience. The following are important MBA programmes:
So, let us go over what MBA is in greater detail. The Wharton School of the University of Pennsylvania was the first business school in the United States, opening its doors in 1881. Tuck School of Business by Dartmouth College established the in 1900. In 1908, the world-famous Harvard Business School was founded.
Despite its long name, Master of Business Administration, the MBA is one of the shortest postgraduate programmes. MBA is one of the most popular postgraduate programmes in management because it can be completed in as little as one year, two years, or as a part-time programme depending on time availability. In the best MBA programmes, English is the medium of instruction. There are over 3000 MBA programmes available around the world.
MBA: A one-year or two-year postgraduate management programme.
Master of Business Administration or MBA, is a Post Graduate Degree programme. MBA at the international level is a one-year degree programme available to candidates who have at least two years of quality work experience after completing their Bachelor’s degree.
MBA: 1 Year & 2 Year Post Graduate Program in Management
In India, however, an MBA degree implies a two-year degree programme. These two-year full-time MBA programmes are open to both recent graduates and candidates with two years of work experience.
The MBA, which is available in Europe, the United States, the United Kingdom, Canada, Australia, Singapore, China, Hong Kong, and other countries, is also available in India in top MBA colleges to candidates with a minimum work experience of 2 to 7 years.
MBA from a University or a Private College
MBA in India refers to an degree awarded by a university department, a university affiliated college, or an autonomous college authorised to award MBA degrees. Other private management schools provide Post Graduate Diploma Programs (PGDM) in Management. These Diploma Programs in Management, on the other hand, are MBA equivalent and are approval by the technical education regulator – All India Council for Technical Education (AICTE) MHRD, Government of India, and their programmers have been awarded MBA Equivalence by the Association of Indian Universities (AIU).
The MBA or Post Graduate Diploma with MBA Equivalence is highly valued internationally. MBA graduates can continue their education, conduct research, and obtain a doctorate in management education from any MBA college in the world. As a result, the MBA is a globally recognize management degree programme. MBA curriculum, courses, and pedagogy are not restrict to classroom instruction.
They are design to be a combination of classroom instruction, field trips, case studies, various types of industry interaction, and internships that aid in the development of management skills required for career advancement.
What exactly is an MBA Course and Curriculum?
MBA courses are divided into three parts: “core” curriculum courses to lay the groundwork and improve skills in areas such as marketing, human resources, operations, accounting, business economics, and knowledge of business law, followed by mandatory field trips and industry internships. The next step in the MBA programme is to select specialised courses that interest you. These MBA courses are referred to as Elective Courses.
The MBA student must choose his or her preferred specialised MBA courses in fields such as marketing, human resources, supply chain, operations, information technology/systems, entrepreneurship, family business, and finance, among others.
How to Get into an MBA Program
Admission to top international MBA programmes is available via the Graduate Management Admission Test (GMAT) or Graduate Record Examinations (GRE), transcripts, and a statement of purpose. Reference letters, etc. If English is not your native language, you must demonstrate proficiency in the language by passing the TOEFL or IELTS with a high score. After completing your bachelor’s degree, you must have at least two years of work experience.
Entrance exams for top MBA programmes in India include the CAT, MAT, CMAT, XAT, SNAP, NMAT by GMAC, and MAT, among others. Some of India’s top MBA programmes are referred to as Masters in Business Administration rather than Master of Business Administration.
Top 20 Business Schools in India
In 2016, the Government of India’s Ministry of Human Resource Development launched the National Institutional Ranking Framework (NIRF). Since then, the NIRF Rankins have been published annually for top Indian institutes/universities in various categories, including management institutes. While the NIRF Ranking 2020 has not yet been released, the top 100 Management Institutes in the NIRF MBA College Ranking 2019 are listed below, along with their location and ranking score.
The top twenty management institutes in the Government of India Ministry of HRD NIRF MBA Ranking 2019 are as follows:
SVKM`s Narsee Monjee Institute of Management Studies
Mumbai
53.56
MBA Advantages
Believe it or not, no other course as compact and brief as MBA can earn you US$ 2.5 million in cumulative median cumulative salary over a 20-year period. This is exactly what GMAC discovered in its Alumni Survey. According to the GMAC Alumni Survey report, earning an MBA from a good B-school is a profitable investment that will take no more than four years to recoup your MBA costs after completion of the course.
