Keeping abreast with the dynamic changes, there is a dire need for students to step out of the comfort zone and check for new metrics while scouting for the best institute that meets their personal aspirations explores Dr.Pramod Kumar, President, International School of Business & Media.
With global economy fuelling the competitive domestic
market, the need to hire talent to help manage strategy and growth to sustain business becomes imperative.
According to a survey conducted by Graduate Management Admission Council (GMAC), about 79% of the companies plan to hire recent MBA graduates this year as compared to 72% in 2011.
The preference for hiring MBA graduates across all verticals is only likely to increase in the near future. Even small entrepreneurial firms are quick to realize the real value management graduates add to the workforce.
However, in spite of this favorable trend not all B School graduates are considered job ready even after getting the coveted degree. Although arming oneself with an MBA degree opens a plethora of opportunities in the corporate world, one needs to make a well informed and judicious choice while selecting a B- School.
College is a match to be made, not a prize to be won. Finding a good college for management studies requires time and thoughtfulness before making the final selection.
One needs to analyze certain parameters such as unique pedagogy, updated curriculum, code of conduct, faculty, infrastructure, alumni and placements are essential to judge before joining a B School.
Visiting a college web site, learning about what events take place, who visits as guest speakers, and how to get in touch with current students and faculty is a good way to supplement a campus visit at the same time learn about the college.
Let us briefly examine some other parameters before selecting the best MBA-School:
Quality of Faculty-
Faculty and its quality has an enduring impact on the overall quality of the institute. No college can help in the proper all round development and aptitude development of the students unless the teachers and professors are experienced enough for teaching and posses the required qualifications.
Highly qualified and experienced faculty with degree from stellar institutes and industry experience can be instrumental in imparting practical knowledge as compared to only theoretical.
The non-teaching staff also has a great role to play in the maintenance and regularizing law and decorum in the college. The students before making a choice must gather sufficient knowledge about the faculty, administration and managerial staff of the college.
Identifying the latest Placement Statistics-
Placements play an important role in choosing a good MBA Institute. While selecting, students should look for the companies that regularly visit the college campuses and inquire about the placement percentage of the college.
It is always wiser to inquire through alternative sources like previous students or existing seniors.
With a shift in the pedagogical approach, B-School are designing courses that are in sync with the fast changing needs and trends in the industry.
Instead of laying emphasis on courses like strategic management, strategic marketing and strategic HR curriculums are increasingly including courses like organization of work and management of resources at the work site to enhance skill building and knowledge building of the students.
A General Management Programme gives students the flexibility to join any sector diversifying placement opportunities as opposed to a Specialization-based Programme.
While choosing an institute students must carefully analyze the curriculum and opt for programmes that lend flexibility from future perspective.
Value Return Analysis-
In today’s competitive global scenario, it becomes imperative for students to choose a truly meaningful institute rather than blindly follow a brand name.
An institute that comprises of high-class faculty having a right combination of experience and academics, the kind of course it offers and its corporate association gives it an edge over the others.
Rather than following the popular perception, students are advised to do an in-depth investigation about the institute assessing academic resources and professional excellence and deciding what is the best for them.
As opposed to information gathered from the websites and brochures, a thorough investigation will pull more weight age in correct decision making.
Consult the Alumni-
The biggest tangible evaluation one can draw about any B School is by interacting with the product (Alumni) that they have created.
The alumnus of any Institute will speak volumes about the performance of the college & the direction & change it has provided to the candidate in his/her tenure with the brand.
Asking the alumnus about the college is one of the major sources of information.
Don't let Money Dictate Goals-
Until now, we have not discussed what is perhaps the biggest factor in determining where you will go to college—money. At this point, do not let costs dictate your goals.
While tuition is expensive, there is also the availability of financial aid. The real question is not how much a college costs, but how much one has to pay out of pocket after taking into account scholarships and financial aid.
It could turn out that with financial aid and scholarships, the most expensive B-School on your list would actually cost the least amount of money.
In order to keep pace with fluid and dynamic corporate environment, industry interface, exposure and experience have become a very integral part of any course curriculum.
It has almost become a mandate to integrate relevant work related programmes into the academic module. In order to facilitate this, access to the network in terms of proximity, network & know how became indispensable.
For instance, an Institute located in the heart of a corporate area such as Gurgaon or Bangalore is in a far better position to allow and facilitate adequate exposure to the industry as compared to a college located in a small town. Thus choosing a B-School based on its location should be made a thumb rule.
Students should also not allow generalization to direct their judgment in a world of super specialization. Investigate and be sure to separate reality from often baseless opinions.
Many will refer to a college as “good”, “hard to get into”, “a party school”, “too expensive”, etc. without really knowing the facts. Refuse to accept these kinds of generalizations without evidence.
One should always remember that that while the objective of any MBA aspirant is to secure higher placement, the onus of making it their ‘true calling’ lies on the students themselves.
Choosing a B-School is half the battle won as, the right institute provides a platform for supporting the whole process.
President, International School of Business and Media
Ph.D.(Organizational Behaviour). I.I.T.Bombay
M.A. (Psychology), University of Allahabad
Professor of Organizational Behaviour & HRD