CAREER IN BUSINESS MANAGEMENT

Master of Business Administration or MBA is one of the most popular post-graduate programmes in India and abroad. Every year, India witnesses around 3, 60,000 students pass outs from the top MBA Colleges in India. The two-year programme is a gateway to a plethora of job opportunities in the corporate world. Business managers are among the highest earners in the country today. An MBA degree from a reputed Management School, almost always guarantees high salaries. Business managers are required in almost all types of companies. So finding employment after getting an MBA degree from a reputed institute is not much of a problem.

NATURE OF WORK

The nature of work usually involves one of these five broad categories.

· Personal Management or Human Resource Development (HRD)

· Finance

· Production and Operation

· Sales and Marketing

· Management Information Systems (MIS)

PERSONALITY/SKILLS REQUIRED

A business management career focuses on planning, execution, analysis and supervision of business processes. A myriad of skills are required - communication, leadership ability, analytical ability and environmental awareness.

MANAGEMENT COURSES

1. BBA (Bachelor of Business Administration)

2. MBA (Master of Business Administration)

3. PGDMA, Post graduate Diploma Programmes in Management (equivalent of MBA)

4. Fellowship programmes in Management (equivalent to PhD).

Whereas the BBA course is of 3 years in duration, the MBA course is of 2 years in duration. PGDMA is usually of one year duration

One can pursue MBA through various modes, such as, Regular, Online and Distance-Education. Interested candidates with their professional experience can also do Executive MBA. Executive MBA is fit for candidates with more than 5 -10 years work experience as it is designed to enhance their managerial and leadership skills to stay relevant in the job market. Online MBA, Part Time MBA and Distance MBA programmes are ideal for candidates who wish to study while working.

COLLEGES, INSTITUTIONS AND UNIVERSITIES

The Indian Institutes of Management (IIMs) situated at Ahmedabad, Amritsar, Bangalore, Bodh Gaya, Calcutta, Indore, Jammu, Kashipur, Kozhikode, Lucknow, Nagpur, Raipur, Ranchi, Rohtak, Sambalpur, Shillong, Sirmaur, Tiruchirappalli, Udaipur, Visakhapatnam are among the top business management institutes (which are usually referred to as business schools) in India. The ones at Ahmedabad, Bangalore and Kolkata also score highly in global surveys of business schools.

Among the other top business schools in India, mention must be made of the following:

Ø Xavier Labour Research Institute (XLRI), Jamshedpur

Ø Indian School of Business, Hyderabad

Ø Faculty of Management Studies, Delhi University (This is one of the few elite business schools in India which is attached to a university)

Ø Jamnalal Bajaj Institute of Management Studies, Mumbai

Ø S. P. Jain Institute of Management Studies, Mumbai

Ø Management Development Institute, Gurgaon

Ø Panjab University, Chandigarh

Ø Narsee Monjee Institute of Management Studies, Mumbai

Ø Xavier Institute of Management, Bhubaneswar

Ø Symbiosis Institute of Business Management, Pune

Ø Symbiosis Center for Management & Human Resources Development, Pune

Ø Institute of Management & Technology, Ghaziabad

Ø International Management Institute, Delhi

Ø Bharathidasan Institute of Management, Trichy

Ø Mudra Institute of Communications, Ahmedabad

Ø Indian Institute of Foreign Trade, Delhi

Ø T. A. Pai Management Institute, Manipal

Ø Loyola Institute of Business Administration, Chennai

Ø Institute of Rural Management, Anand

Ø Institute of Management Development Research, Pune

Ø Wigan & Leigh College , New Delhi

Ø Manipur Institute of Management Studies, Canchipur Imphal

Ø Tata Institute of Social Sciences, Mumbai

Ø Devi Ahilya Vishwavidyalaya, Instt. of Management Studies, Indore

Ø IPS Academy of School of Management , Indore

Ø Awadesh Pratap Singh University , Rewa

Ø University of Delhi

Ø Rajasthan University , Jaipur

Ø Jamia Millia University, New Delhi

Ø Hamdard University, New Delhi.

Ø Bombay University , Mumbai

Ø Calcutta University, Kolkata

Ø Guru Nanak Dev Univ, Amritsar

In addition, there are the schools of management at the Indian Institutes of Technology (IIT). These management schools are also rated among the best in the country. Besides these, there are several other management schools in almost all major cities of India. One needs to ensure that one joins a course at a reputed management institute and which offers recognized degrees. Given the high demand of business managers, there are a lot of business management institutes which have mushroomed and which are not affiliated to any major institutions and degrees of which are not recognized. Doing a business management course from such institutes is not advisable as the end result after an expensive management degree will be of little value.

ELIGIBILITY CRITERIA

What makes MBA such a popular course is that students from any background i.e. Science, Commerce and Humanities can pursue it. Full-time MBA eligibility criteria are as follows:

Ø Graduation in any discipline or equivalent from a recognized university.

Ø Most of the institutes follow the minimum score criteria in Graduation which is 50 per cent in average or equivalent. For Reserved category students, the minimum score in 45 per cent in aggregate.

Ø Final-year Graduation candidates are also eligible to apply for MBA provided they present the proof of completion of Graduation degree within the duration specified by the institute.

MBA ADMISSIONS

Admissions to all B-schools typically take place through an admission test. This test can be one of the following types:

· National Level Test conducted by an apex testing body or a top national B-school on behalf of the other participating colleges. e.g.: CAT, MAT, CMAT or ATMA

· State Level Test conducted by a state level testing body or a top state B-school on behalf of the other participating colleges in that state. e.g.: MAH-CET, OJEE, KMAT, TANCET or APICET

· Test conducted by a B-school for entrance to its own MBA programme. In some cases, these scores can be accepted as qualifying criteria by other B-schools as well. e.g.: IIFT, XAT, NMAT, SNAP, IBSAT

· Test conducted by a university for entrance to MBA programmes being offered by colleges that are affiliated to it. e.g.: KIITEE, HPU MAT

The qualifying exam is usually followed by a second level screening round that could be a group discussion or a personal interview conducted by the college that the student has qualified for.

The IIMs conduct a Common Admission Test (CAT). The CAT scores are often considered an eligibility criterion even by other business schools in India. Some business schools have their own admission tests.

Typical eligibility for admission to a Management School is Graduation. The eligibility criterion differs from institute to institute, so check the brochure of the institute you are planning to apply to. Some others also admit students on the basis of their graduation marks.

The CAT tests analytic and quantitative knowledge in English and Mathematics. Management institutes which admit students on the basis of class 12 marks also lay emphasis on the marks in English and Mathematics.

For post graduate courses, the eligibility criterion often includes some work experience. Usually it is work experience of 1 year or 2 years. Other than that, graduates in any subject are generally eligible to apply for post graduate courses.

Undergraduate business management courses such as the Bachelor of Business Management (BBM), Bachelor of Business administration (BBA) & Bachelor of Business Studies (BBS) require completion of 10 + 2 with 50% (45% for SC/ST); preference may be given to Math/Commerce graduates. Selection is done by entrance examination, group discussion and personal interview performance.

SPECIALIZATION

The kinds of specialization that one can opt for depends on the institute. Also, there is a scope for specialization after one has been placed in a company. The recruiting company offers specialized training to business managers. Some special areas on offer are as follows:

· International Management: - Deals in International trade and business.

· Public System Management: - Management of public enterprises, non government organization (NGO) and cooperatives.

· Operational Research: - Using mathematical analysis to solve financial and production problems.

· Technology Management: - Specializes in technical fields including financing and marketing.

· Management Consultancy: - Identifies and corrects problems concerned with company policies, procedures and methods.

· Hospital Management: - Ensures the efficient running of hospitals and health care organizations.

· Hotel Management: - Concentrates on hospitality and hotel administration.

· Rural Management: - Utilizes management practices for managing agro based and other rural industries as well as marketing rural products.

· Forest Management: - To handle the marketing and administration of forest related projects and products for forest development.

· Disaster Management: - Managing relief and re-development operations during natural calamities and disasters.

·Leisure & Event Management: - Management of leisure related activities like operations of clubs, parks and events.

·Sports Management:- Managing the administrative, marketing and organizational activities of sporting organizations and sport clubs.

CAREER PROSPECTS AND REMUNERATION

The career prospects for those with an MBA degree and especially for those holding an MBA degree from one of the above mentioned institutes is sky high. Business managers are required in almost every business.

The remuneration for business managers is among the highest in the country. Rs 50,000 per month is almost an average if one holds an MBA degree from the above mentioned business management institutes and the upper limit can stretch to several lakhs per month for those placed overseas.

MBA jobs	Average salary per annum (Rs in lakh)
Finance Manager	9.6
Marketing Manager	10
Sales Manager	10
Human Resources Manager	4
Operations Manager	7
Product Manager	15
Data Analytics Manager	14
Digital Marketing Manager	4.5
Advertising Sales Manager	8.5
NGO Manager	5
Project Manager	13
Telecom Manager	7
Transport & Logistics Manager	6
Infrastructure Manager	11
International Business Manager	9
Risk Manager	10
Energy & Environment Manager	6
Import & Export Manager	6
IT & Systems Manager	7
Healthcare & Hospital Manager	4
Materials Manager	6
Retail Manager	5
Supply Chain Manager	8
Public Policy Manager	7

*The salary data has been obtained from Payscale.com

FINDING A JOB AFTER MBA

Almost all Management Institutes have a campus placement programme and almost all kinds of companies come looking for business managers e.g. IT companies, banks, oil companies, financial companies, event management companies, chemical companies, telecom companies etc - these are only some of the wide range of companies where business management graduates can find a job. There is no dearth of job opportunities for business managers

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