Course Details

MBA (Master of Business Administration)

A Master of Business Administration (MBA) is a postgraduate degree focused on business administration. The core courses of an MBA program cover various areas of business administration such as accounting, applied statistics, human resources, business communication, business ethics, business law, strategic management, business strategy, finance, managerial economics, management, entrepreneurship, marketing, supply chain management and operations management as it relates to management analysis. It was born in the United States at the beginning of the 20th century when the country was industrializing and companies were looking for scientific management.

Some programs also include elective courses and concentrations for further study in a particular area, for example, accounting, finance, marketing, and human resources, but an MBA is intended to be a generalized program. MBA programs in the United States typically require the completion of about forty to sixty credits (seventy to ninety in a one-fourth system), many above the thirty credits (thirty-six to forty-five in a term system) generally required for degrees covering some of the same material as the M. Sc. in Economics, Master of Finance, Master of Accountancy, Master of Science in Marketing and Master of Science in Management.

The MBA is a terminal degree and a professional degree. Accreditation bodies specific to MBA programs guarantee the consistency and quality of teaching. Business schools in many countries offer tailor-made programs for full-time, and part-time, classes are usually held in the evenings or on weekends) and distance learners, many of whom have specialized concentrations.

An "Executive MBA", or EMBA, is a degree program similar to an MBA program that is specifically structured for and targeted towards corporate executives and senior managers who are already in the workforce.

Course Highlights

MBA is a two-year degree course that can be pursued only after completing graduation. Given below is the table indicating the key highlights of the MBA course:

MBA is the most straightforward way to accelerate your career. Students focus on the placement opportunities that come after completing an MBA degree. As the world is becoming more and more competitive it is becoming necessary to have managerial skills and knowledge. This will help an individual, lead a team in a field where he/she is an expert.

(i). Developing Managerial Skills

The syllabus Master of Business Administration focuses on providing knowledge and case studies that help manage a firm or company. It includes accounts, financial management, leadership skills, marketing knowledge, and much more.

(ii). Entrepreneurial Opportunity  

Students acquire knowledge about running a business. This is very helpful for students who have a family business. The MBA will help in the smooth running of the business with better returns.

(iii). High Placement and Salary

According to reports, almost every student gets a hike after doing an MBA course. Colleges provide placement opportunities to students where students get a chance to choose from their dream companies. The average MBA Salary ranges from INR 7,00,000 to INR 9,00,000 which may rise to INR 15,00,000 to INR 20,00,000 depending on the college.

(iv). Different MBA Formats are Available

Students have the option of going for a Distance MBA, Online MBA, or even a Part-Time MBA course. Due to the high demand for MBA, colleges have introduced different types of MBA courses for people from different backgrounds. Online MBA and distance learning MBA are a boon for workers who cannot quit their job. Executive MBAs help individuals with high knowledge of the subject matter to gain managerial expertise.

(v). Building Connections

Apart from the placement opportunities the college also provides a platform to interact with other students or alumni. These connections help students to get into the companies they like or get the salary they want.

(vi). Diversify your Career Prospects

There are various MBA Specializations that help students to focus on any particular segment of business management. MBA course specializations include MBA Finance, MBA HR, MBA Marketing, MBA Business Analytics, MBA IT, etc.

Admission Process

Many programs base their admission decisions on a combination of undergraduate grade point average, academic transcripts, entrance exam scores (for example, the GMAT or the GRE test score), a résumé containing significant work experience, essays, letters of recommendation, group discussions, and personal interviews. Some schools are also interested in extracurricular activities, community service activities, or volunteer work and how the student can improve the school's diversity and contribute to the student body as a whole.

 Types of MBA Courses

Owing to the high demand for MBA, various types of MBA have emerged, each focusing on a distinct sort of student. Working individuals or those engaged in some kind of employment can pursue an MBA branch such as an Executive MBA, a Distance MBA, or an Online MBA.

Different types of MBA courses are available in various specializations such as MBA HR, MBA Finance, MBA IT, etc. The various types of MBAs are mentioned below:

(1). Part-Time MBA

The Part-time MBA program is the best program for working professionals. It is not a residential program. Anyone wishing to improve their management skills can opt for this program. Many private and public universities offer part-time MBA courses. The annual MBA course fee can range from INR 1 lakh to around 10 lahks. The MBA program is slightly different from that of the regular course.

(2). One-Year MBA

One-year MBAs are designed for professionals who don't want to leave their jobs to pursue an MBA. The MBA duration of this course is 1 year. Institutions can also run One-year MBA programs in different specializations, such as one-year MBA funding. A one-year MBA program is suitable for candidates who wish to study the MBA for working professionals and do not wish to pursue a full-time 2-year residential MBA program.

(3). Full-Time MBA

This is a regular two-year full-time course offered by most BS schools in India. Candidates can discover the classroom environment for theoretical courses, internships, and projects based on practical knowledge. Approximate MBA course fees for any two-year full-time course start from INR 2 Lakh and can exceed up to INR 25 Lakh, per year. The MBA course fees of the top three IIMs (Ahmedabad, Bangalore, and Calcutta) are around Rs 23 lakh. The program is divided into 4 or 6 semesters depending on the MBA major and the college.

(4). Executive MBA  

Executive MBA is a part-time MBA program designed for working professionals with significant work experience. The duration of the MBA in Executive format is 1 year. The Executive MBA course is useful for managers, entrepreneurs, technocrats, and other business leaders and has a strong emphasis on teamwork and achieving a common goal. Executive MBA is the best MBA for professionals who want to take their careers to the next level.

(5). Online MBA  

The Online MBA is the most advanced course in the industry. a UGC-approved part-time MBA. The duration of the MBA in the online format is 1 to 4 years. Online MBAs are flexible courses offered by Indian and foreign business schools for students who want to study MBA for professionals and students who do not wish to pursue a regular full-time 2-year MBA.

(6). Distance Learning MBA  

MBA Distance Learning is a two-year postgraduate MBA correspondence management program. Distance-learning MBAs are best suited for students who cannot pursue a regular MBA. The duration of an MBA in distance/correspondence format is 25 years. An MBA from IGNOU is one of the most popular Distance MBA programs in India.

(7). Integrated MBA Course

The integrated MBA course is for students who have just passed Class 12th. It is a 5-year program where candidates will pursue the graduation level as well as post-graduation level courses. The MBA syllabus for the MBA Integrated course is completely different. Students can either opt for BBA/B. Tech/BA/B. Sc+ MBA subject course. The annual MBA course fees start from INR 1 to INR 17 lakhs. Right after graduation, students can easily get MBA jobs in the private and public sectors.

Eligibility Criteria

Full-time MBA eligibility criteria are as follows: 

(i). The basic eligibility criteria for MBA (full-time) is graduation in any discipline or equivalent from a recognized university.

(ii). Most of the institutes follow the minimum score criteria for Graduation which is 50 percent on average or equivalent.

(iii). For Reserved category students, the minimum score is 45 percent in aggregate.

(iv). Final year graduates are also eligible to apply for the MBA, provided they present the proof of completion of the Graduation degree within the duration specified by the institute.

(v). Professionals with CA/CS/ICWAI and other qualifications can also obtain an MBA

Admission Process

MBA Admission takes place through Entrance exams. MBA colleges accept multiple entrance exams for Admission. In this way, students have the opportunity to pass more entrance exams and present the evaluation form with the best scores.

Accepted Entrance Exams

A candidate's ranking in the entrance exams determines their admission to the top MBA colleges in India. There are different forms of MBA entrance exams. Some help applicants gain admission to colleges nationwide, some help statewide, and some colleges arrange some for MBA admissions.  Following are the entrance exams conducted at the national and university level for MBA courses:

Skills Required

A manager is expected to lead a team of professionals, so the most important skills for a successful manager are good leadership and communication skills. Check out some of the required skills for an MBA below: