MBA Insight

For all MBA aspirants

MBA Insight For all MBA aspirants If you think this is really an informative e-book, please e-mail a copy of this e-book to all your friends and leave us your feedback on [email protected]

Pramod Kalli Edupreneur, Ezucog [email protected] Dear friends “Ezucog” presents an informative e-book “MBA Insight” for MBA aspirants. The e-book incorporates solutions for all queries and confusions in choosing MBA program. In the era of globalization, the world has become highly competitive. When students look ahead to pursue any degree in this competitive scenario, students are confused and often find conflicting conceptions of the phenomenon. In this consideration they have queries like which program? Which college? What is the scope? How about career? Etc. for all these queries MBA Insight gives a solution. I believe this e-book would help all my MBA aspirant friends not only with their queries but also endow with information on what MBA program is all about and its career options. Every student’s dream is to land a job that combines what they love, they think hundred times while choosing the college and program. However, in certain cases students get influenced to the choice probably may not be the right one. Students getting admitted to the college/institution that are not recognized by any bodies (AICTE, UGC etc.) is one common among incorrect choices or decisions can be seen with this contemplation, to overcome such situations and see every students bright future Ezucog brings this e-book with possible information on MBA program. If you think Ezucog can be of your any assistance in choosing an MBA college and queries, kindly email us on [email protected] Finally, I wish every MBA aspirant “All the Success” and wish them “A Great Learning and Career Ahead”

Who we are... Ezucog is “Educational Consultants Group”; a budding educational consulting firm helps students to gain admissions and provide Total Career Solutions. What we do... Ezucog offers a unique service termed ‘Total career solution’; the service being unique in the field of education that facilitates students with various programs to carve success path in their lives. Right from choosing college for admission to a particular course (MBA/PGDM) till the placement assistance Ezucog will monitor students through various programs. Programs such as soft skills training, project work guidance, guidance on choosing specialization, assignments guidance, career guidance and very importantly placement assistance are provided by Ezucog to students with no fees. Ezucog is more genuine in dealing and best admission guidance. Our unique service model… Following are the programs facilitated by Ezucog to students with no fees Soft skills training: It is a vital program which enhances the students’ skills through a training given by experts. The training is given on presentation skills, interview skills; group discussion and resume writing etc. this training program help students to be well prepared for placements and to have their desired career.

Project work guidance: We have experts those are highly qualified in similar stream will guide students on their project work which has to be submitted to college/university during their course time. Guidance on choosing specialization: Our experts will guide students when it comes to selection of their specialization in their course. Understanding the students’ interest and capability our experts will advise students on educating available career opportunities that fits them. Assignments guidance: The assignments given during their course will be guided by our experts in order to make students to understand the purpose of the assignment and the way how assignment has to be completed to fulfill the purpose. Career guidance: We understand students find themselves in dilemma when it comes to career selection after completion of their course. We provide career guide who helps students to sort out their confusion and queries and also educate students on various available career opportunities where they can excel. Placement assistance: Very importantly Ezucog also provide assistance in placements to the students irrespective of their college placements. Here the students will have benefit of assistance in placements by the college where they are pursuing their course and also by Ezucog. *All above programs are facilitated by Ezucog with no fees, only for those students who choose to pursue their course on recommendation of our consultants with the associated institutions/colleges of Ezucog. Why Ezucog? Ezucog takes personal interest in student’s development throughout his/her program, until the student reaches his/her career choice Ezucog continuously keeps incorporating every possible method for polishing a student's skills and personality. At every step we examine students without ignoring the tiniest error which might harm students in their growth. The educational consultancy services offered at Ezucog will bring out the best quality and strengths out of the students by measuring them on international level parameters. We as committed professionals with so many roles to play at our end will fulfill our promises by offering the best educational necessities for the growth of a student and fulfillment of his/her dream. What keeps us unique are… • The Ezucog consultants provide information over admission criteria, acceptance rates, institutions expectations and merit scale. • We treat students dream as our dream and help students pursue a right education choice. • We help students in enhancing their skills and personality to have their best career path in future. • We prepare students mentally and psychologically to face current competitive era and be a winner. • The most importantly Ezucog’s “Total career solution” is the unique service keeps us apart and helps students equipping them in all the dimensions to ensure their success. Contact us Phone: 97382 26536 / 97382 03072 (Call us between 10 AM to 4 PM IST) Email: [email protected]

MBA Insight Contents Contents Management Education 1 MBA vs. PGDM: Which is a better option? 3 Why Pursue an MBA? 5 Scope of MBA 7 How to choose a “Good MBA College”? 8 What do B-Schools look for in a candidate? 12 Can one Succeed in an MBA without an Undergraduate in Business? 14 MBA – Career Options 16 Why Entrepreneurs need an MBA? 21 Ask an ‘Expert’ before joining any MBA program 23 If you think this is really an informative e-book, please e-mail a copy of this e-book to all your friends and leave us your feedback on [email protected]

MBA Insight Management Education: Management education involves Management education has been evolving over decades. However, in one teaching the fundamentals, theories and of the latest trends, a study reveals that enterprise, modernism, improvement, concepts of business and its transform and entrepreneurship are becoming vital. Business management environment. In other words education can take your career to new heights. But is it really necessary to Management education is all about have strong base of education, better learning and a track record for high understanding fundamental connections delivery? Yes, absolutely, your educational background, skills and between the business, environment and learning can be great assets to advancing in a business management society. The roles and responsibilities of career. Executives at all levels of organization who have great careers business as a global force are becoming and what they bring to their organizations will benefit from taking more complex and critical; concepts related to societal responsibility and sustainability are gaining recognition as essential elements in business, the advanced management concepts have become essential to one implement and manage the business in the current scenario. 1

MBA Insight time out to polish their skills with the subjects the use of simulation demonstrates the complexity of formal business management business in terms of the dynamic interactions between functions, process, education. products and markets. The Management programs helped The pedagogy of Management education provides an opportunity to managers to become effective decision test understanding and organize knowledge in a competing makers in their fields through knowledge environment. In the era of Globalization and Liberalization students of and skills that they acquired from Management will develop skills of quick learning and equally quick decision management education. The program making. As Managers, one will be exposed to business world. broadens the overall perspective of the students so that they can become catalysts for change. It develops conceptual, interpersonal and management awareness for implementation of new structures, formulations and strategies. It also improves managerial effectiveness and prepares students for a better career. Management education trains candidates to resolve conflicting business issues and take a decision and see the outcome of such decisions, soon thereafter. Management education is specifically designed to develop and improve the business decision-making skills. A major gain in learning is that they learn to cooperate with each other and work in teams. They develop skills to work with people with diverse culture and work practices. Besides integrating 2

MBA Insight then such Institutes cannot offer MBA degree. MBA vs. PGDM: Which is a better option? Even IIMs, XLRI's doesn't offer MBA degrees they only give PGP Diploma or Most of the students who want to pursue PGDM since they are autonomous and management studies to have a great independent bodies. career in their lives are very often having confusion in their mind on PGDM When an Institute secures autonomy course and it's comparison with MBA. they design their own curriculum instead Students wish to get the maximum of following University syllabus. One can return on their investment (ROI) and say that PGDM courses are more hence do everything it takes to get a Industry relevant as compared to MBA degree from one of the prominent B- courses. However there are huge Schools. Here will go and try to similarities in the curriculum of elaborate the difference between these both MBA and PGDM. two. Curriculum of PGDM is flexible because PGDM expands to Post Graduate an autonomous body does not have to Diploma in Management; students are follow university set standards; it is free confused when they see the term to change its curriculum. Typically if any Diploma. Many are of the view that it is PGDM is to be equivalent to MBA then a Diploma and not a Degree; to an the course duration should be 2 years, a extent they are right it is a diploma 1 year PGDM will not be equal to MBA course. In India only those management course. institutes which are affiliated to a university can offer Master of Business Administration (MBA). The reason why postgraduate courses are named as PGDM is because when an Institute is an autonomous body which is not affiliated to any university and conducts management courses in its own pattern 3

MBA Insight There are few AICTE approved colleges will also offer PGDM. If a college is offering AICTE approved management course and not affiliated to any University it means they are offering PGDM not MBA degree. However either MBA or PGDM is the best option for the management studies unless they are offered by recognized bodies. 4

MBA Insight The course equips students with both hard skills and soft skills during their two Why Pursue an MBA? years program. Hard skills include finance, marketing, Human resources, MBA is a post graduation designed to accounting, business management, give you the ability to develop your skills economics, business law and and potential at an accelerated rate. operations. Soft skills such as What would an individual gain out of an leadership, motivation, teamwork, MBA? Aside from a powerful life ethics, and communication and experience, the MBA degree would presentation skills are included. supply value propositions like Business Students acquire these skills inside and Knowledge, Skills, Networks, and outside the classroom. Since MBA Brand. MBA acts like a magnet programs attract people from very attracting talented people from every diverse industries and cultures, a sector of industry. Educational program will be able to leverage these experience provides each MBA student differences and translate them into with a tremendous opportunity to better learning opportunities. network, develop their skills, personality and better understanding to business What benefits does one can gain after environment. his/her MBA? During the course time students will be exposed to business environment. They • Development of skills in specific learn basic principles of business, fields such as finance, marketing, theories and business concepts. human resources or operations. • Development of the skills needed to be an entrepreneur/manager. • Greater opportunities to work in a country or geographical region of his/her choice. • Access to a network of alumni. • Access to a network of industry and community leaders. • Increased recognition based on the status of the b-school. • A better career with good salary package and earnings potential. 5

MBA Insight An MBA program offers access to a network of MBA students, alumni, faculty, and industry and community leaders. This network can be very useful when beginning a job search, developing a career path or building business relationships. MBA is considered to be a recognized brand that signifies business management and leadership training and it is thought to be one of the most prestigious and sought after degrees in the world. The particular school and type of MBA program you attend also gives you a brand image that can help open doors based on the school's reputation. The strength of a school's brand image is based on the program's history, pedagogy, curriculum and its alumni and industry network. 6

MBA Insight careers. Typically, a Management Graduate gets absorbed into a Scope of MBA Company through the Campus Placement. The MBA Program offers a Master of Business Administration is lucrative career option to both one of the popular and ever demanding experienced professionals as well as courses in India and across the globe. fresh graduates. The scope for an MBA is unparalleled. Apart from attractive salary package and Even when the industry feels heat of placements being offered at college- recession MBAs are the first in and level, it opens doors to various among the first out, thereby reaping the opportunities in different fields. MBA has benefits of a rising industry and the seen many takers over the past years smartness of exiting to a different and hence there is very high demand industrial sector. This is due to the multi- especially in India as it is becoming the dimensional and multi-tasking quality of next world power. The course not only an MBA. An MBA with Finance or HR offers you a good pay but also makes specialization does not necessarily get you competent and gives you better into their respective fields. He/she can exposure, there are many also make their career in the field of specializations in MBA like Marketing, marketing. Apart from Corporate Finance, Human Resources (HR), careers, an MBA can opt for Operations, Foreign Trade, and entrepreneurship, work in co-operatives, Information Technology etc. These NGO's as the opportunities are literally specializations have their own unlimited. importance and scope in their field. It all depends on ones interest and the way he/she wants to do MBA. The Indian Corporate world has seen many MBA professionals occupying top positions in the corporate ladder. Today, a Management Degree has become an attractive proposition, as there are attractive entry level salaries and 7

MBA Insight Faculty - Faculty of an institution is the foundation stone for the How to choose a “Good MBA education imparted. It is important College”? to do research on the faculty members that student chose to In today's competitive world pursue his MBA. Faculties of the business management courses institution should be well qualified have become very popular with the and have a very good academic students all over the world. In and industrial experience. countries like India which is seeing huge economic growth for the past Pedagogy - The method and two decades, management practice of teaching which a programs gaining huge demand. program is delivered can be Thousands of students look for crucial. Pedagogy of an MBA admission to business schools in college should be a balanced India, Bangalore has become very approach comprising of technical popular with the students since the inputs and group tasks. Classroom Bangalore has become IT/ITES hub inputs, guest lectures, living cases in the country gaining more and role models, off-campus importance and attracting various workshops, industrial visits and big time brands all over the world seminars and projects are essential to come and setup their business. When students think of pursuing MBA, first students have to judge and be sure MBA is the degree that they would like to pursue. Once student made up his mind, next step is to choose a perfect MBA college. Following are a few things that students should keep in mind while choosing an MBA College: 8

MBA Insight that you are interested in. If you plan to do MBA marketing to equip students in all the specialization then your institute dimensions. should offer that specialization. Do not compromise on your interest Infrastructure - The infrastructure area at any cost. However dual provided by the institution plays a Specialization is advisable because vital role in shaping up candidate students will have two options to career. Students should look for apply jobs. things such as hostels, libraries, superior class rooms and internet Rankings - Every year, few connectivity etc. while choosing an reputed newspapers, business institute. Place for recreational magazines and websites release activities should be considered to MBA colleges’ rankings. Based on reduce the stress level. the college’s placements, facilities, performance of students and Career placement record - Helping faculties etc. these rankings are candidates in their job search is a given. Although most of these key component of any MBA rankings are not reliable as they program. Each institution has a are biased however they give some placement cell or department. idea about the relative worth of the Some institutions attract companies college. to come on campus to interview students and place them to a job. Accreditation/Recognition - Today, the majority of MBAs find Accreditation for the colleges is their jobs through an off-campus very important, the college where search. you would choose to pursue your MBA should be recognized by Specializations - All MBA bodies such as AICTE/UGC. Check if the college is AICTE- approved institutions have their or not. Check whether the college specialization. Choose that institute which offers the course program 9

MBA Insight your doubts cleared about the quality of education imparted and has the requisite approvals by facilities provided by the college. granting body. It is very important Knowing information about alumni to know what all accreditations of the college will help you to know your preferred colleges have. If whether the college has a good your degrees are not recognized, image in the industry or not, what they won't hold much value in the kind of companies recruiting job market. students from the campus can be known. Students – It is always good to know students mix in the college Reputation - Reputation of the that you choose for your college is the image and brand MBA. Know some information about value of the college recognized in students studying in the chosen the industry. There are some college. As, they are the main part institutions, which have a very of your college environment. good brand value and image. Information such as the average Students of these institutions are CAT/MAT scores or CMAT placed across all industries and rankings, average age, average they are climbing the ladder of a work experience, male-female successful career. The brand value ratio, percentage who are from of the college adds value to the overseas, educational background students when it comes to their and languages required gives you a probability of getting selected to a fair idea of the student mix of the job and the company. It is college. advisable to ask with somebody in the industry to understand the Alumni - Try to collect some industry perception of the college information about alumni of the before taking an admission. college. Find out where they are placed and their job profile. If possible talk to them, try and get 10

MBA Insight “Ezucog is an educational consulting firm assists students in Return on investment (ROI): ROI choosing the best college to pursue is a vital thing to consider while MBA program and provide “Total choosing an MBA college. However Career Solution” services to the candidates are not looking for low students with no consulting fees.” cost MBAs. Generally they are looking for a long term career “You are always welcome to ask an benefit measured by accelerated assistance to choose the best growth in the career and salary college for your MBA program. You uplift. But never compromise in can mail us on [email protected] and quality of education because this visit us on www.ezucog.in” two year education would be most important in your career. If you are planning to take additional courses after MBA all is value addition in education. After considering all the above features, you can decide to take up an admission into MBA. However there might be few other considerations that you might make before choosing a college but the ones above mentioned are common among students choice for an MBA college. 11

MBA Insight just following the common trend of pursuing MBA. An aspirant must have What do B-Schools look for in a passion for pursuing an MBA. candidate? Institutions also look for certain personality traits in the candidates. When a student applies for MBA, Candidate should have those qualities Institutions look to determine whether which a manager must have, such as the student possess the qualities and communication and Networking skills, traits that are required to succeed during leadership qualities, awareness, MBA program. Candidate should be Confidence, Analytical and Presentation very focused on his/her own abilities Skills, Wide Perspective, Team spirit and goals. The qualities that are and Self Assessment. essential are honesty and truthfulness, realistic career goals, being focused, In order to asses all these qualities and awareness. The perfect candidate institutions conduct Group Discussion is someone who is willing to take up the (GD) and Personal Interview (PI). challenges in the life. The purpose of GD is to measure the Excelling in written exam of an MBA quality of a candidate on parameters like entrance is very important a good MBA flow of thoughts, content and college always accept better a score or knowledge, communication skills, group rankings, Institutions check whether the behavior, positive attitude and candidates have proper knowledge, leadership skills. “GDs are conducted to interest and awareness of the subject or test managerial attributes like level of not. They test whether the candidate is confidence, interpersonal skills, genuinely interested in doing MBA or is leadership, analytical and rational thinking, awareness and personality traits. A personal interview is conducted to know a candidate more intimately, assessing the clarity of thinking process and knowing future goals of candidate 12

MBA Insight MBA institute measures how much the candidate fit for the course and college. The personal interview aims to assess the skills, attitude, trait and personality of the aspirant. Apart from the MBA entrance exams and GD & PI performance, few MBA institutes include work experience in their selection criteria. Usually work experience is considered only if it is a full-time experience with professionally managed companies, working for small business firms may not be considered to fulfill the criteria. However work experience matters, but it’s not essential. While selecting candidates, the selectors always look for innovation and creativity in the candidates. “Thinking out of box” is what they look for in a candidate. 13

MBA Insight Can one Succeed in an MBA environment to learn many aspects. The without an Undergraduate MBA is often referred to as one of the in Business? most versatile degrees because it can The MBA is a professional be applied to many fields and pursued by people with degree, which prepare various backgrounds. Diversity is a key an individual for the characteristic of MBA student practical populations. application of skills, rather than learning theory. MBA MBA is designed programs take to equip an individuals for interdisciplinary higher-level positions approach to by focusing on the education by combining practical side of business various types of business management. specializations to help students develop MBA teaches you how to implement the skills required in management of theoretical aspects into business practices. It has the ability to stand business. MBA programs provide alone. Hence, no specific background is required for an MBA program. If you students with an educational tool set don’t have a business undergraduate degree or background, this will not that is highly applicable in just about any hinder you in your MBA admissions or career. We see in many business career they may consider. Some non- schools students with non-business- degree pursuing their MBA program. In business background students are fact, it increases the diversity within a class, which can be favorable concerned that business majors will beat them in the exams. Usually this concern is not seen due to deeper and more intense levels at which MBAs are taught. Also, MBA faculties tend to have higher standards for delivery on any subjects. 14

MBA Insight different ideas, plans, strategies and formulations in regards to business. So Although students in MBA programs an MBA can be right for you even if you receive basics of business education, don’t have an undergraduate business much of the course work focuses on the degree. enhancement of skills and abilities required to manage a business. When an individual who is ready to take on the responsibilities of almost any position in the company should possess skills such as communication, leadership, motivation and problem-solving skills, the outcome can be a qualified professional. The intellectual knowledge gained in an MBA program might be important that would help in implementing the principles that are taught. However, it may not matter what you have learnt what matters is how do you implement the concepts, theories and principles into business practices in different scenario. Perhaps this is one reason why MBA programs are open to individuals of all educational backgrounds. No matter what your background, the world of business is full of industries, products/services and consumers that need professional expertise. The varied backgrounds in an MBA class may be beneficial when each person offers 15

MBA Insight MBA – Career Options MBA careers are open to anyone who MBA Careers in Finance has earned an MBA degree. There are numerous MBA job opportunities Finance is one of the popular MBA available in every business industry. career option. An MBA Finance MBAs are hired by all sorts of graduate has wide range of career organizations/industries like banks, opportunities. There are different media houses, retail stores, consultancy positions in an organization where the firms, IT/ITES and FMCG companies to knowledge and skills of finance is name a few in the roles of Marketing, utilized. More importantly, finance Human Resources, Finance, Operations positions will take you to the top level etc. management. Professionally organized businesses employ people who are Management education has emerged as knowledgeable about various areas of one of the main focus of higher learning finance. in India. Changing economic conditions and global competition has given A financial manager, either a regulator management education in India an or treasurer, in any organization, increasingly central role in the success performs decision making with regards of individuals’ career. to investments and other forms of financing actions. Initially, analysis is 16

MBA Insight Possible job titles include financial analyst, budget analyst, finance officer, performed on different investment plans financial manager, financial planner, by identifying profitability, risks, and investment banker, cash manager, risk alternatives to these investments. and Insurance manager, credit Accordingly, risk management programs manager, treasurer and ‘C' position CFO are devised as contingency plans for the (Chief Financial Officer) etc. chosen investments. Basically, this is under financial strategy formulation and MBA Careers in Marketing maintenance, another key task of a financial manager. Marketing is another popular MBA career option. Most of the large and Aside from being a financial manager, small businesses utilize marketing you may also consider being a financial professionals in some other way. Career analyst as an MBA Finance career. options could exist in areas of branding, Financial analysts are hired in many advertising, customer relationship, sales types of businesses because they need and distribution of product or services. people to take the business to the right Dedicated students who complete their direction with consideration to their MBA program in Marketing will find and financial potency. Specifically, they secure one of the best high paying jobs. determine expansion capabilities and devices profit maximization and cost Marketing managers are generally the minimization strategies. head supervisors of a certain product or service and they organize and manage You may also consider accounting to various areas of an organization to widen your capability range. The direct the effective distribution of functions of an accountant are a little products to consumers. Marketing similar to finance, except that in managers manage products or services accounting, more emphasis is given to sales across the designated markets. auditing and generating financial Most of these managers concentrate on reports. In contrast, you may always local and national markets, while some choose any entry-level position, handle international tasks. Marketing especially when you are a fresh managers also concentrate on the graduate. 17

MBA Insight complete products offered by a specific These professionals deal with company. They build and maintain recruitment of new employees; they relationships with existing customers conduct tests and interviews to recruit and attract new customers, generally employees to the organization. HR they work with modern and innovative managers are responsible for managing technologies. employees’ benefits, and listening to minor grievances of the employees. Marketing professionals are new Besides, they also assist workers in product development specialists, they boosting their morals and ethics. And develop new products and set up a also they are responsible for providing standard procedure and marketing training and coaching to maximize the plans. They promote newly released employees’ abilities. products and create awareness of the brand in the target markets. The main task of HR managers is the efficient use and development of Some popular job titles include available skills and talent of the employees within the company. Thus, marketing manager, branding they are highly in demand in today’s corporate world. They can seek specialist/brand manager, product employment in both public and private sector companies. Every industry needs manager, advertising executive, HR professionals to manage human resources in the company. Personnel relationship manager, sales manager managers are other HR professionals they can aspire to be employed in the and marketing analyst etc. services sector, particularly IT/ITES companies who are dealing with a MBA Careers in Human Resource number of employees. While large firms have their permanent personnel Among various resources required in managers, small companies, on the managing business, human resource is other hand, hire services of human one of the most important for success of any industry and company, it is essential that human resource is utilized in the most efficient way. Companies need to match employees with the jobs for which they are best suit for. This task is done by human resource (HR) professionals. 18

MBA Insight highly competitive. Operations manager should have in-depth knowledge and resources consultants. This can be yet understanding of processes in the field another great option to look out for. that are prevalent in the current scenario. Operations manager should Some job titles include recruitment have good communication skills, officer, HR manager, personnel leadership skills, decision making manager, HR training and development abilities and problem-solving skills. executive and HR operations manager Computer knowledge, responsibility etc. handling and dedication are the fundamentals for this job. An operation MBA Careers in Operations manager should be able to cope with Management the ever-changing trends. Operations management is the heart of Operations management has emerged any company. It is a specialized job, as a lucrative career option in India and which involves designing, executing, abroad. It offers wide range of career implementing strategies and controlling opportunities in the field of Consulting the process of converting resources/raw Firms, Hospitality, Financial Institutions, material into the desired product. It Construction, IT/ITES, Insurance, deals with the wide range of decision Manufacturing Industries, Retail, making tasks such as forecasting, Transportation and Logistics services product designing, selection of process etc. One can work as Customer Service and technology to be implemented, Support, Distribution and Supply Chain management of the supply chain Manager, Forecasting, Inventory process, selection of vendors, Planner and Control, Operations purchasing of external products, Planner, Scheduling and Control, Inventory, maintenance, warehousing Purchasing and Materials Manager, and quality management. Project Manager, Process and Methods Planner, Quality Manager, Operations There are many good jobs available in Manager, Traffic Manager, Warehouse operations management and these Manager and Distributor etc. positions offer substantial upward promotion potential. . A person willing to build a career in this field needs to be 19

MBA Insight cope with the dynamic business environment. An MBA (Information MBA Careers in Information Technology Management) graduate’s Technology climb up the corporate ladder is usually accelerated. Most of them will take up The information technology (IT) field positions such as CTOs (Chief also needs MBA graduates to oversee Technology Officers), CIOs (Chief projects, supervise people, and manage Information Officers), information information systems. Career options can technology directors or IT managers. vary depending on your MBA specialization. Many MBA graduates MBA career as an entrepreneur choose to work as project managers, information technology managers, and One of the most thrilling career options information systems managers. after MBA is entrepreneurship. It is for those who are passionate about IT management is a broad term which business and who love risk bearing, as includes various aspects of technology your resources are at stake when you related activities. An MBA-IT graduate start-up your own venture. It can also be can plan his career in any of the called a trial and error method where following fields within IT management: you can put all the theoretical knowledge into practice, which pays • Business/IT alignment hefty results if put in the right direction. • IT Governance • IT Services With the business knowledge gained • Sourcing in MBA institutes, entrepreneurs are • IT configuration management putting theory into practice what they have learned on their own terms by An MBA in Information Technology piloting their own ship. Though you will Management is a lethal combination of have the freedom to work on your own two very dynamic aspects of any terms and concepts, there is a certain business: management expertise & uncertainty that make it a risky venture. information technology. Most of the Due to the level of risk involved not companies are looking for competent many people chose to go for it. and qualified professionals to help them 20

MBA Insight Why Entrepreneurs need an and will provide with the network, MBA? confidence, and environment to succeed. Many business schools focus People who wish to become on entrepreneurship, both in the traditional business sense and in the entrepreneurs often choose to study an meaning of professionally managed enterprise/organization. They generally MBA. The wide range of courses in emphasize on the launch and development of start-ups and the many business schools is designed to make elements and dimensions of new ventures. A quality MBA degree will the MBA graduate competent in the equip students with basic business principles, theories and strategies, the business world. Subjects like way organizations are run, the major economics, finance, accounting, functions in a company and the latest trends in the management discipline. marketing, human resources, operations One more vital aspect during MBA program is the contacts which MBA and business law etc. are helpful in students make at colleges are among the major benefits with regard to their acquiring the general skills and future business. This network of knowledge needed in business management. Having fair understanding of the overall economy and the ability to translate important statistical facts and understanding the behavior of customers in the markets and changing the game plan accordingly makes all the difference in today’s business world. Judging the right time for business expansion or consolidating and knowing how to change game plans is an art that usually comes with experience, but its foundations can be laid in the formal education. An MBA can be incredibly potential when balanced properly. The degree is a solid hedge against the risky proposition of starting up own business, 21

MBA Insight contacts could turn out to one of the important and crucial factors for the achievement of business plans. Some of classmates could be future business partners, co-shareholders, skilled managers and customers. In any case, one should not underestimate the importance of the contacts made during two years of course program. What important in every aspiring entrepreneur is a passion for the idea and a willingness to invest a tremendous amount of time in the business. Regardless of management education and credentials, being an entrepreneur is not for the faint of heart. An MBA degree will give many of the business tools that an entrepreneur need, but the degree doesn’t guarantee success. As earlier mentioned above - Passion, time, and the right idea, in addition to MBA degree, will play an important role in the success of entrepreneurial career. 22

MBA Insight educational consultant, students will have the opportunity to explore a wider Ask an ‘Expert’ before joining variety of career options and discuss any MBA program possibilities in a significant way. There are many options available in Educational consultants begin with an choosing an MBA program or college, it assessment, to help students identifying has become little difficult for students to strengths and weaknesses, as well as choose the right college. Here comes educational objectives, choices, and the role of education consultant, who is career plans. Consultants give students an expert suggest most suitable option unbiased advice and recommendations to students keeping in mind their based on their professional judgment of aptitude and outstanding performance in a student’s needs and abilities. any specific field. Analyzing educational background of students and conducting various tests, Consultant advice students the best option. An Educational Consultant is a skilled professional who provides counseling to help students to choose a right college to pursue their program; Educational consultants can provide a student with individual attention and firsthand knowledge of career opportunities. With their extensive knowledge of colleges, programs and organizations expectations consultants can broaden the potential options, and provide vital help in understanding weighing factors such as cost and its worth, very importantly the program that to be measured. With an experienced 23

MBA Insight Most importantly, Educational Consultants will develop a game plan for the students’ successful career. Considering above all mentioned roles and importance of a consultant; it is advisable to consult an expert before taking admission into an MBA program. If you think this is really an informative e-book, please e-mail a copy of this e-book to all your friends and leave us your feedback on [email protected] 24