The full form of MBA of Master of Business Administration.
What is MBA?
This is one of the most popular and pursued post-graduate degree courses in business administration. The course is pursued by those who want to make their career in business management. The MBA degree holders have access to a plethora of job opportunities, generally at the managerial level.
Globalization of companies has resulted in establishing the overseas branch, which requires proper management and functioning towards achieving its goal, effectively and efficiently. Hence, managers have become key persons of every organization.
Besides containing the full form of MBA, the lines below contain the detailed course structure of the course.
History
The MBA degree originated in the US during the 20th century when the companies applied scientific management methods. In the US, the Tuck School of Business conferred the first advanced degree in business in 1900, a Master of Science in Commerce, followed by the MBA.
In 1908, the Harvard Graduate School of Business Administration established the first MBA program, in which curriculum was based on the scientific management study by Frederick Winslow Taylor, who is regarded as the Father of Scientific Management.
MBA can be pursued through various modes- regular, distance, and online. Institutes offer various types of degrees in management, such as the regular MBA/PGDM/PGPM programs, Executive MBA (for experienced professionals), MBA dual degree programs (specialization in any two degrees offered by institutes).
There is not much difference between the MBA degree and the PGDM/PGPM except that MBA is a degree course and PGDM (Post Graduate Diploma in Management) /Post Graduate Programme in Management(PGPM) offers a diploma on completion course.-
MBA Eligibility
Graduation in any discipline from a recognized university with criteria of a minimum average score of 45% – 50%. Final year students may also apply for the course if they provide a Provisional Certificate to prove completion of the course.
Admission Process for MBA
An eligible student is required to sit for the MBA entrance exam for admission to various B-schools. CAT, XAT, MAT, CMAT, and SNAP are some of the entrance exams; CAT is the most common. Institutes consider varied cut-off marks scored in CAT for admission.
MBA Course Structure
The regular MBA program includes theory classes, projects, internships, and campus placement. Different specialized streams in MBA are-
- Finance
- Marketing
- Human Resource
- IT
- International Business
- Operations Management
- Hospitality, etc.
The course consists of 4 semesters. Skills required for the course are Good Communication, Analytical skills, Problem-solving skills, Leadership Qualities, Management skills, Stress management, etc.
The fee structure for the course depends upon the institutes and vary from Rs 200000- Rs 2000000. Few colleges may charge higher than the mentioned range.
Career After MBA
Every organization, be it big or small, private or government, hire MBA degree holders. A Finance specialized MBA degree holder ought to take up the responsibility of functions relating to budgeting, planning, strategizing for the financial resources, investments, the flow of funds, reporting to higher authorities, etc. Likewise, individuals with specialized degrees work in the domain of their specialization.
Popular MBA colleges in India
- Indian Institute of Management, Ahmedabad (IIMA)
- Faculty of Management Studies, University of Delhi
- XLRI Xavier School of Management
- International School of Management and Research