India's Best Business Schools- Experts View (Dr. Anupama Natarajan)

Why MBA

Dr. Anupama Natarajan - Principal, IFIM

Anyone with a post graduate qualification certainly has better chances of employment and career advancement than one without. In today’s world it is important to choose a programme that will give you an edge in your career and also ensure life time employability. With so many post graduate programmes to choose from, it would be prudent to choose an MBA. And if it is business that one wants to pursue, it definitely is MBA. An MBA can be expensive. But, the fact remains that the growth in demand for an MBA has been high in the recent years.

Let’s take a look at why an MBA is a wise choice among other options for post graduate education.

MBA is one of the most versatile post graduate programmes. It is one of a kind that provides interdisciplinary learning in sharp contrast to most other post graduate programmes which offer deeper learning in a specific area. 

The virtue of it being interdisciplinary or multidisciplinary is a result of the fact that the MBA programme embraces in its fold, concepts from varied fields like economics, environment science, psychology, sociology, IT, commerce, operations, law, engineering, finance, and so on.... The curriculum of the programme covers strategic and management aspects of various business functions and activities within an organisation and without. While a degree in MBA is to prepare a student for general management of business at strategic levels, over a period of time, in response to market needs, the programme has been offering various specialisations, getting more and more specific with the changes and development of businesses in varied fields. Think of any industry and there is an MBA with specialisation specific to that industry or business, e.g. tourism management, hospitality management, health care management, finance management, construction management, international business management, family business management, retail management, event management, advertising management, aviation management, insurance management... the list is as long as the different types of businesses that exist or may come into being in future. Even medical, legal and accounting professionals, artists, performers and sportsmen have all started realising the need for an education in Management and Business Administration to stay ahead in their professions.

This is precisely the reason that makes MBA accessible and a popular choice of post graduate programme to students of different undergraduate streams irrespective of what subjects one has studied in their UG programs.

The opportunities a student of MBA receives during the two year tenure of the programme to network with various organisations through internships, research in various functional areas of business, learning skills like decision-making, leadership, analytical, communication and inter-personal relations and more, makes them extremely employable. Most MBA colleges use the case study method, simulated business environment, role-play, live projects, etc to make learning experiential and as close as possible to real business situations.

The business environment is inherently dynamic. Corporate houses and industries are faced with challenges constantly and MBA is perhaps the only post graduate programme that has tried to keep pace by being flexible in its offer, keeping a finger on the pulse of the market.

The Structure: A typical MBA spans over 18 to 24 months. They may follow a semester or trimester pattern of conduct and assessment. A good MBA programme ensures that the students go through an academic rigour which includes an intense curriculum while allowing them to also practice many of the concepts learned through both innovative and time-tested application exercises. During the course, the students gain a large amount of exposure to real time situations in organizations and acquire soft skills that are essential to various business roles. The experiences the students gain, while still studying, help them transform into responsible professionals and are able to deliver in their corporate roles from day one.

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Why do employers prefer MBAs? 

Most organizations today have a more flat structure than before and require employees who are capable of handling their work independently. Organizations also are not inclined to hiring students who have no exposure to corporate functioning and do not have adequate training in soft skills. Organizations require employees with sophistication and skills who are capable of shouldering responsibilities from day one in their jobs. For all these, they find solutions in an MBA! An MBA definitely is more mature and has a better understanding of business environment than any other post graduate.

Why should students choose MBA? 

The students stand to gain hugely from MBA. Most students do not realise that some of the courses they choose in their undergraduate studies are not very viable for well-paying jobs. The MBA can convert a student of any undergraduate programme into a business savvy and employable individual.

The MBA is undoubtedly one of the best taught masters programme and offers a variety of specialization options to suit students with varied interests and career choices. 

Some of the contacts students develop during their MBA programmes and a strong alumni network which most reputed institutions boast of are very valuable and come in handy at various stages of one’s career. Good internships, opportunities to network with the industries, guest lectures, industry visits, personal and professional mentoring, faculty with industry experience, research opportunities, real time projects and assignments prepares students to take on corporate roles with knowledge and confidence, giving them good headway in their careers.

While pay packages depend on the type of industry, type of organisation, type of roles, etc, an MBA certainly gets almost double of whatever any other degree qualification is likely to fetch. True, an MBA qualification does not come easy. But the opportunities that come with the programme are well worth the effort.