Basic Information About MBA

Friends,
Here is the Basic information you need to know abot MBA Degree before you start preparing for this career.

The MBA is a postgraduate management degree recognized internationally. It is awarded to students who have mastered the study of business. MBA students study the theory and application of business and management. It is therefore widely accepted as a passport to a successful corporate career. MBA is popular mainly because of the career flexibility it allows, the leadership mindsets it inculcates, and the acceleration it provides.

An MBA acts as an enhancer to your graduate degree adding actual marketplace perspective and gives you a launch pad to the corporate world. It brings together economists, humanitarians, engineers, accountants, medical practitioners etc. under one roof, instills in them the business and management skills and makes them industry ready. It does not change the basic skill set but rather enhances it. Thus if your graduate degree gives you direction, an MBA is your passport to the corporate world.

However, choosing a specialization is an important decision because it typically earmarks the area in which you are likely to take up a full-fledged career. It is fruitful, therefore, to select a specialization which genuinely interests you as you are going to invest 30 years of 6 days a week × 8 hours a day of your scarce time.

Traditionally most B Schools offer specializations is the fields of Marketing, Finance, Human Resources Management, Systems and Operations. However, the boost in the economy, the increase in FDI and boom in sectors like retail, pharma, insurance etc have given an impetus to industry specific specializations like Retail Management, Pharma Management, Risk and Insurance Management, MBA Biotech etc. Let us tell you in brief about these areas:
Marketing involves understanding consumer needs and meeting them profitably. You might like marketing if you are curious about people, like analysing data, enjoy travelling and meeting people and building a consensus. In the broadest sense, its getting people and products together.
Finance is concerned with the efficient use of an important component of business - money. One works on designing financial offerings to maximise the returns investors get on their investments, and adapting to the dynamics of the market.
Human Resources, involves activities directed towards development of people in the organization: performance appraisal, employee counselling, employee training and employee motivation.
Systems would involve helping companies leverage technology to business value, especially in wake of restructuring, consolidation and growth in dynamic scenarios.
Operations is for those who are fond of processes and is important in manufacturing ad well as service delivery. It also involves areas such as quality control and optimisation.
In , the eligibility criterion for pursuing an MBA is a minimum of 3 years of bachelor’s degree with a 50 percent from a recognised university/institute. Apart from the above, one needs to clear an entrance test, group discussion and personal interview in order to finally make it to a school.
The most prominent management entrance test in is the CAT (Common Admission Test) conducted by the top most B Schools in the country, that is, the IIMs. It is the toughest and most competitive of all management entrance tests in the country. Other such important tests are XAT, JMET, SNAP, and NMAT. Few institutes conduct their own tests – TISS, IRMA, FMS, NMIMS, and IIFT. Apart from that, there are several regional level management entrance tests as well like MH-CET ( Maharashtra ), ICET (Andhra Pradesh), RMAT (Rajasthan), MPMJET (Madhya Pradesh) etc.
CAT is conducted by IIMs in November every year.
XAT is conducted by XLRI every year in the month of January.
JMET is conducted either by IISc or IITs each year in the month of December.
CET is conducted in the month of February.
SNAP is conducted in the month of December.
ICET is conducted in the month of May.
SMAT (NMIMS test) is conducted in the month of December.
IIFT test is conducted in the month of November.
IRMA test is conducted in the month of December.
FMS test is conducted in the month of January.

These aptitude exams test “managerial abilities” through questions based on the 10th level Maths and English.

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