Indian MBA Programs
At one time there were two relatively distinct models of MBA education. The American Two Year model differed from the European One-Year model on several grounds:
|1||Duration||One Year||Two Years|
|Industry Connections||Professorial Research|
|4||Skills Emphasized||Soft Skills||Quantitative
|More Diverse||Largely Similar|
|6||Selection Criteria Emphasized||Work Experience and Success||Test Scores, Grades|
|7||Age of Students
|Late-Twenties or older||Mid-Twenties|
POST GRADUATE PROGRAMME IN MANAGEMENT (PGP) at the Indian School of Business (ISB) is a good example of a One Year MBA Program offered in India. Its core courses are offered in initial four terms. The Course structure is as follows :
|TERM 1: APRIL – JUNE|
|FINANCIAL ACCOUNTING AND DECISION MAKING|
|STATISTICAL METHODS FOR MANAGEMENT DECISIONS|
|TERM 2: JUNE – JULY|
|DECISION MODELS AND OPTIMISATION|
|MARKETING DECISION MAKING|
|TERM 3: JULY – AUGUST|
|CORPORATE FINANCE – I|
|MANAGERIAL ACCOUNTING AND DECISION MAKING|
|MANAGEMENT OF ORGANIZATIONS|
|TERM 4: September – October|
PGP-ISB offers around 80 electives that help students build on their interests. During the last five terms, students can opt to take 18 to 21 elective credits. Term 4 is a cross over term, and will be a combination of mandatory core courses plus elective courses. Courses are combined to offer students the following six concentrations or majors:
- Information and Technology Management
- Operations Management
- Strategy and Leadership
The Industry specializations offered are
- Public Policy
The student must complete six credits of coursework successfully for a concentration area or Industry Specialization from amongst the elective courses specified for that specialization. Certain popular elective courses are offered in more than one term.
Advantages of a Traditional Full-Time One Year Program as compared to other methods of obtaining an MBA
- Excellent peer learning as the average age of the students is higher and the student body is rich in diversity.
- The internationalism of the top programs, especially regarding the mix of nationalities in the student body, is remarkable. More of a Global MBA.
- For those with substantial business experience, one year may be all that is necessary to broaden horizons and improve skills.
- Good industry connections mean that the best schools do very well in placing their students.
- The time spent away from one’s career is limited.
- Emphasis is placed upon learning languages.
- Teaching of soft skills is often superb.
Disadvantages of a Traditional Full-Time One Year Program as compared to other methods of obtaining an MBA
- The underlying presumption that students have substantial business experience means that some of the introductory courses move at too fast a pace for novices.
- A one-year program is too short for some to develop enough new skills and contacts to make dramatic career shifts.
- Some programs are too small or too structured to offer much choice of electives.
- Some programs do not force students to acquire substantial quantitative skills, requiring a conscious choice of quantitative elective courses in order to develop these skills.
- There is little time for career reflection or exploring career options.
- Comparatively more expensive.