Master of Business Administration
The Master of Business Administration (MBA or M.B.A.) is basically the master’s degree in business administration (management). The essential courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, operations and statistics in a manner most significant to management analysis and strategy.
Types of MBA Programs
There are many types of MBA programs that you can choose from.
- Regular MBA program: This program comprises two years of a degree course beginning from July or August every year and ends in May. Hence, students pursuing MBA have to attend classes regularly in the college or institute every weekday.
- Part-time MBA: Students or working individuals who cannot attend classes in the college because of their jobs go for this program. Therefore, these students attend classes in the night. The program may last up to three years.
- Distance MBA: This program allows students to complete the degree course online or off campus. Hence, there are online institutions that are affiliated to universities that provide learning resources as well as the MBA degree.
- Accelerated MBA: This program is of shorter duration than the regular program. Hence, there are no summer breaks. Other than that, it is similar to regular MBA.
Admission procedure and MBA Entrance Exams
Admissions are based on the entrance exam organized and conducted by the particular university or institution. The entrance exam is compulsatory, after which candidates have to appear for group discussion. Later on, a personal interview is held, along with essay writing. Based on the performance, candidates are enlisted in the particular college. Some of the common national-level tests are:
- Common Admission Test (CAT)
- The Management Aptitude Test (MAT)
- Symbiosis National Aptitude Test (SNAP)
- Xavier Admission Test (XAT)
- AIMS Test Management Admissions (ATMA)
- Common Management Admission Test (CMAT)
- Karnataka Management Aptitude Test (KMAT)
Candidates have to first appear for the written test that consists of various areas like English, Analytical, Mathematics, and Logical reasoning, etc. This is a computer-based or online test and takes around 2 to 2-½ hours. Candidates are shortlisted according to the marks scored and then advance towards the next stage, i.e. group discussion. In group discussion, students have to talk about a given subject and express their point of view. After this, personal interview is conducted and after passing in all the three stages, candidates get selected and gets a call.
In order to apply for an MBA program proffered by top MBA colleges. The candidates have to complete their graduation, with at least 50% aggregate marks. The candidate can be a graduate in any discipline like science, commerce, engineering, humanities etc.
Benefits of the course
- Develop valuable managerial skills
- Get free access to a big business network
- More desirable chances for a higher salary
- MBA degree holders can start their own company
- Opens the door to booming career opportunities
Some MBA specializations offered by the colleges are :
- Human Resource
- Information Technology (IT)
- Retail Management
- Export Management
- Materials and Supply Chain Management