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MBA Explained: Full Form, Types, History, Courses, Subjects, Exams, Colleges, and More

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Kamaldeep

11 June, 2024

MBA Explained: Full Form, Types, History, Courses, Subjects, Exams, Colleges, and More

What is the craze about MBA? Why is everyone eager to pursue this degree?

Well, it is difficult to explain in just a few sentences, why graduates increasingly opt for MBA courses or management education. In the changing dynamics of the business sphere globally, companies have been shifting hiring trends. Solely, having niche or technical skills is not enough if you want to size a lucrative opportunity. Employers look for business understanding and management aptitude in candidates. While your technical skills show your expertise, having the ability to manage reflects your potential to enhance the business performance. This is why, recruiters prefer MBA graduates. Besides this, mid-career professionals often struggle with a stagnant growth phase. An MBA degree accelerates your career growth and gets you a significant salary hike.

If you are also planning to pursue an MBA degree but are in a dilemma, this blog is for you. We have started from point zero in this blog and explained everything about an MBA.

MBA Degree Full Form

MBA’s full form is a Master of Business Administration.  It is a two-year postgraduate degree programme offered by the most renowned institutions in the world. This degree is provided in various specialisations like financial management, HR management, marketing management, strategic management and many others. It prepares candidates for managerial and leadership roles in the business world. The MBA course curriculum is a combination of theoretical concepts and practical training. It consists of relevant industry exposure and enhances your skills through real-time projects. Moreover, it presents a great way to expand your industry network and accede to the corporate ladder. Owing to the prestige of this programme, it has a rigorous admission process.

But have you ever wondered, where did it all start? When did MBA courses and management education become a popular choice for a huge population of students? Well, here’s a brief account of the history of MBA degrees in India.

The Evolution of MBA Programmes in India: History

The story of management education started 100 years ago. Every top industrialist and businessman is an MBA graduate. After liberalisation in the 1990s, management education became extremely popular. But it stayed with a certain section of the society. Gradually some of the premier institutions came into existence which were dedicated to technical and management education. IIMs, FMS, IIFT and other such prestigious institutions lighted the fire and attracted global recruiters in one place. From the first B-school in India to XLRI and more than 20 IIMs of the current times, MBA programmes in India have expanded to a huge extent.

During the 1950s XLRI, FMS and the Indian Institute of Social Welfare and Business Management were the forerunners in management education. They offered PG diplomas in management specifically designed for working professionals. From scepticism to the experiential-based MBA courses of the current times, India’s MBA journey has been remarkable. So much so that today, an MBA has become one of the most commonly chosen postgraduate degrees.

As the country continues its journey towards achieving academic excellence, MBA degree courses stay at the forefront. Therefore, the future holds immense opportunities for both MBA aspiring students and institutions.

Further, in this blog we will discuss the eligibility, admission, syllabus and colleges offering best MBA programmes in India.

MBA Course Highlights

MBA Full Form  Master of Business Administration
MBA Degree Level  Post Graduation
MBA Course Fee INR 2,00,000 to INR 25,00,000 (depending upon the college and mode you choose)
MBA Course Eligibility  Must have completed a bachelor’s degree from a recognised university
MBA Entrance Exams CAT, CMAT, XAT, MAT, etc.
Top MBA Specialisations  Finance Management
Healthcare Management
Marketing Management
Human Resource Management
Business Analytics
IT Management
Logistics and Supply Chain Management
Operations Management
Data Analytics
Project Management
Entrepreneurship
Top MBA Recruiters   TCS
Reliance Industries Limited
Cognizant
Wipro
Infosys
ICICI Bank
Amazon
JP Morgan
Microsoft
Morgan Stanley
Deloitte
Top MBA Colleges  IIM Ahmedabad
IIM Bangalore
IIM Kozhikode
Amity University
Manipal University
Symbiosis International University
Jain University

Modes of MBA Courses

Broadly, there are three modes of pursuing MBA courses: online, distance, and regular. In regular mode, you get two options i.e. full-time and part-time. Details of the same are given below:

  • Full-time MBA: It is the traditional way of pursuing any degree. You have to attend your classes every day at the university campus. Face-to-face interaction is a must in this mode of learning.
  • Part-Tima MBA:   The format of a part-time MBA is less rigid compared to a full-time programme. You will have to attend in-person classes but they are usually held in the evenings or weekends. So you can continue with your commitments and responsibilities on the sidelines.
  • Distance MBA: The flexibility factor is loosened here. You do not have to visit the university campus at all. The study material will be delivered to you by post or email which you can study at your own pace. However, the exams are conducted offline at the designated examination centres which are usually in the nearby region.
  • Online MBA: The most flexible mode of learning where you can attend either live sessions or recorded lectures. The credentials of an online MBA are equivalent to that of a full-time offline MBA. So you can easily pursue your job and simultaneously complete your master’s
  • Hybrid MBA: Since no one wants to give away the benefit of online learning and miss out on on-campus experience, a hybrid MBA was introduced. It is a blended mode of learning where you have to visit the campus for a few modules while the majority is done online.

MBA Course Eligibility Criteria

Every college will have different eligibility criteria and it may vary for online and distance modes as well. Let’s take a look at the common eligibility parameters that you must fulfil.

  • You must have completed your bachelor’s degree from a UGC/AICTE/AIU-approved university in any stream.

  • The minimum marks in your undergraduate should be 50%. The reserved category students get 5% relaxation in minimum marks criteria.

  • Must have qualified for one of the MBA entrance exams.

  • There is no upper age limit to pursue an MBA in India, however, some entrance exams may have age restrictions.

Here’s How to Apply to an MBA Course

  • Step 1: Prepare a list of prospective colleges of choice and see if they have your desired specialisation.
  • Step 2: Understand the eligibility and admission procedure for every college/university you are applying to.
  • Step 3: Prepare for the MBA entrance exam which is accepted in your desired college and appear for that exam. Please note that the entrance exam is mainly required for regular MBA and not for online or distance MBA courses.
  • Step 4: Fill out the college application form
  • Step 5: Upload all the necessary documents along with the entrance exam score.
  • Step 6: If shortlisted, prepare for the next round of the selection process which may include group discussion and personal interview.
  • Step 7: Receive the confirmation letter and pay the programme fee to book your seat.

Please note that these steps may vary for executive and online/distance MBA programmes. They generally do not have group discussions or interview rounds.

Syllabus You Will be Studying in the MBA Course

As there are different specialisations in the MBA programme, the coursework will be different for each. Moreover, every college has a unique curriculum so, it is also one of the distinguishing factors. Here we have compiled a general syllabus for the MBA course:

Semester 1  Semester 2
Corporate Social Responsibility Macroeconomics
Microeconomics Business Law
Principles of Marketing Management Operations Management
Principles of Accounting Optimisation and Project Research
Tools and Framework of Decision-Making Corporate Finance
Quantitative Methods and Statistics Project Management
Business Communication and Soft Skills Marketing Management

 

Semester 3  Semester 4 
Supply Chain Management Managerial Economics
Financial Modeling Corporate Governance and Business Ethics
Strategic Management Corporate Finance
Specialisation Elective 1 Specialisation Elective 1
Specialisation Elective 2 Specialisation Elective 2
Specialisation Elective 3 Specialisation Elective 3

Top MBA Entrance Exams 2024 to Look Out For

Exam Name Exam Date 
CAT 2024 (Common Admission Test) November 2024 (tentatively)
CMAT 2024 (Common Management Admission Test) 15th May 2024
XAT 2024 (Xavier’s Aptitude Test) 7th January 2024
MAT 2024 (Management Admission Test) 24rth February 2024 to 2nd June 2024
NMAT by GMAC 2024 2nd week of October to 3rd week of December 2024
SNAP 2024 (Symbiosis National Aptitude Test) December 2024

How to Prepare for MBA Entrance Exams

Here are some tips to start preparing for various management entrance exams.

  • Refer to high school-level books for grammar and English language

  • Develop a regular reading habit

  • Practise is the key to mastering reasoning ability

  • Set priority topics to avoid spending more time on less scoring areas

  • Try to figure out tricks to solve quantitative ability questions to minimise calculations

  • Work on your mental maths

  • Focus on your strengths while fixing your weaknesses

  • Work smarter because your own way of solving questions will help you

  • Take as many online mock tests as you can

  • Go through previous year’s questions to understand the pattern

  • Make a schedule with proper breaks, study time, and question paper-solving time slots.

Top MBA Colleges for Regular MBA Courses

Institution Name  Fee Structure (total fee)
IIM Ahmedabad INR 20,00,000
IIM Bangalore INR 24,50,000
IIM Kozhikode INR 20,50,000
SP Jain Institute of Management and Research INR 23,50,000
Symbiosis Institute of Business Management INR 24,20,000

Top MBA Colleges for Online MBA Courses

Institution Name  Fee Structure 
Chandigarh University INR 2,00,000
Online Manipal INR 1,75,000
Amity Online INR 1,95,000
Jain Online INR 1,60,000 to 1,80,000 (varies as per specialisation)
Symbiosis (SCDL) INR 1,50,000

Reap the Benefits of the MBA Course

Yes, almost every other person is pursuing an MBA degree or is planning to do so. What’s the craze of an MBA course? It’s the outcome and benefits you get after completing this course.

  • Networking with peers and professionals from across the world is a key aspect of the MBA curriculum. This helps in getting a wider perspective of the global market.

  • Acquire management skills which is what recruiters these days are looking for.

  • An advanced degree in this highly competitive job market gives you increased job opportunities in multinational national companies.

  • MBA graduates have a higher chance of a salary hike in good percentage compared to other candidates.

  • Develop empathy and a global mindset.

  • Build lifelong friendships and become a part of the strong alumni network.

  • Accelerate your career growth which is stuck at that mid-senior level position.

  • If you wish to switch your career path, MBA gives you a smooth transition.

Summarising

As the business world continues to evolve, the MBA course has to take a global approach to more holistic education. It is because of the growing and changing demands of the businesses and students that online MBA is also on the rising side. It has further increased the student participation in this field. In the end, you can conclude by saying that MBA acts as a ticket to bigger opportunities and higher salaries.

FAQs

Q1. Is the MBA a 2-year course?

Yes an MBA course is 2 year PG degree programme.

Q2. Which MBA is the best in India?

An MBA course studied at a top university in India will give you more benefits. MBA programmes of IIMs, XLRI, Amity University, Manipal University, and Symbiosis Institute of Management Studies among others are considered the best.

Q3. What is the cost of an MBA in India?

Depending on the study mode and college you choose, the MBA course fee will differ. It usually ranges between INR 2,00,000 to 25,00,000.

Q4. Which MBA has the highest salary?

Securing a high salary package after an MBA relies on your skills, experiences, and other factors. Apart from this, the industry in which you work also matters. For instance, as per today’s market trend, business analytics is a booming sector, therefore, the salary potential in this field will be high.


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