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MBA Explained: Full Form, Scope, Subjects, Colleges, Salaries and More

mba full form and complete guide

What is an MBA?

An MBA or ‘Masters of Business Administration’ is a postgraduate degree specialising in management. It provides students with a broad understanding of business principles, practices, skills and knowledge to succeed in the business world. MBA is a top-rated course since management uses it in all walks of life. It is a great option for a rewarding degree with high success rates professionally. An MBA can open doors to a wide range of rewarding career opportunities in various industries.

Anyone with a graduate degree with desired passing marks can pursue an MBA either from a university or opt for the online mode.

How Did Management Studies Come into Focus?

With globalisation spreading quickly through the years, it gave way to the need to study management in more depth. Rapidly, the fields of management deep-rooted themselves in different sectors of business.

Harvard University established the first business administration programme in 1908. It opened the Harvard Graduate School of Business Administration and started with 33 management aspirants. Today, it is one of the most reputable and aimed-for-business programmes in the world.

Post-independence, the new India knew the values of management education. Businesses were prospering and so, more need for management learning came into the picture.

Indian Institute of Social Welfare and Business Management was the first institution that started an MBA programme in 1953.

About the Courses and Subjects

  • Masters of Business Administration is a two-year-long programme divided into 4 semesters.
  • It has different specialisations that a student is free to choose from. The choice appears mostly in the second year of the degree.
  • The curriculum is based on and updated according to the relevant management industry with practical applications in use.
  • Different specialisations have different job opportunities and pay scales depending upon how commercially it is favoured. However, the trends keep on changing in the market.
  • MBA can also be pursued online and several good institutions offer excellent online programmes for management aspirants.

Specialisations: Choices for All

Here is a list of some of the most popular management specialisations and courses:

Finance Management Finance Management is all about the business relating to the finances of a firm. From managing profits to losses, making monetary decisions, and analysing previous financial returns and trends to maximise the value, it all is related to Finance management.
Marketing Management It involves conducting in-depth research on the various trends prevalent in the market, devising marketing plans, and executing them.
Human Resource Management HR Managers supervise the functioning of a company. They recruit & train new employees, and help the managers with strategic planning for the company.
Analytics & Data Science Management It is a discipline related to analysing data trends, looking into data insights, using the right tools and techniques, etc. They mine larger databases and micromanage the useful insights.
Retail and Supply Chain Management The main responsibility is to ensure a smooth flow of resources and products in a business. Retail and supply chain management deals with products from their raw form to their final processing and everything in between.
Operations Management It is about operating the production of goods and services efficiently. It deals in the designs and production of customer-satisfying services when managing an entire service system while converting the inputs into outputs.
IT Management This particular management stream deals in the use of information technology to bring in tech profits to the company. The tech resources are used to amplify the needs and priorities on expanding skills.
Operations Management This field of management gathers data on the main operations of a business. They analyse and evaluate this data so as to identify and resolve all the operational issues.
International Business Management It teaches about dealing with different business management practices and understanding its use in the market scenario. International Business finds use in other specialisations like marketing, finance, supply chain, etc. It provides a wider perspective on each of the specialisations.
Risk Management Risk Management deals with identifying any possible or prevailing risks which can potentially affect business. They devise and strategise plans to mitigate, manage and minimise any such risks.
Entrepreneurship Management To open up your own business or to go assist a business owner, entrepreneurship teaches one to manage that. It starts from the basics of a business and moves up figuring on every micro detail that is important for a business to run. To assess risks, to maximise profits, to manage the supply, etc., it deals with all chains in the market.

Related: Details of MBA Specialisations with Fees, Jobs, Top Colleges

How to Take Admission in an MBA Programme?

There are two ways an aspirant can get admitted into an MBA programme.

  •  One either has to pass management common entrance tests like CAT/MAT/XAT/ATMA/ G-MAT/MBA/ MMS-CET/C-MAT. They are treated as qualifying certificates for taking admissions in management courses.
  •  The other way is to appear and pass the institution’s entrance exam to take admission in the 2-year degree course.

Modes of Learning

You have the option to pursue an MBA in different modes such as regular, distance and online modes. Furthermore, you can pursue the course either part-time or full-time. Here, we have discussed all the modes available to you in the MBA programme:

  • Full-Time MBA

If you are planning to pursue an MBA full-time or in the regular mode, then you will have to visit the campus on a daily basis and attend classes. Therefore, you will get an opportunity to participate in all the campus activities and interact face-to-face with your classmates and faculty members.

  • Part-Time MBA

If you want to get the best of both worlds, then a part-time MBA is best for you. In this mode, the classes are conducted in the evening or on weekends, and thus, you will have enough time to manage your work and other commitments.

  • Distance MBA

If you want a greater degree of flexibility and convenience, then a distance MBA is the right choice for you. It provides you the freedom to study at your own pace from the comfort of your home.

  • Online MBA

The online MBA mode allows you to continue your studies at your convenience anytime, anywhere. You get access to both live as well as recorded lectures, allowing you to adjust the pace of learning.

  • Executive MBA

The Executive MBA program is designed for experienced professionals, allowing you to enhance your leadership skills and business acumen without interrupting your work commitments. With a blend of weekend classes, online modules, and immersive campus sessions, the Executive MBA provides a strategic and convenient way to elevate your executive capabilities.

What are Some of the Best Institutions Offering MBA Programmes?

Here is the list of the best regular and online MBA programmes in India:

Sl# Top Regular MBA Programmes in India NIRF Rank
1 IIM Ahmedabad 1
2 IIM Bangalore 2
3 IIM Kozhikode 3
4 IIM Calcutta 4
5 Department of Management Studies, IIT Delhi 5
6 IIM Lucknow 6
7 Indian Institute of Management, Mumbai 7

 

Sl# Top Online MBA Programmes in India NIRF Rank
1 Chandigarh University 27
2 Online Manipal University
3 Jain University 68
4 Amity University 57
5 Dr. D.Y. Patil Vidyapeeth 41
6 Symbiosis Online MBA 32
7 NMIMS NGASCE 21

Entrance Exams for MBA

Exam Name  Exam Date 
CAT 2023 26th November 2023
CMAT 2024 To be declared
XAT 2024 7th January 2024
MAT 2023 MAT PBT: 3 September 2023
MAT CBT: 17 September 2023
NMAT by GMAC 2023 To be declared
SNAP 2023 10 December 2023 – 22 December 2023 (official link)

Related: MBA Entrance Exams in India: Everything You Need to Know

Choosing the Right MBA? Consider These First

The right course, the right place, and the right investment are important to be thought of when you are investing so much time and money into earning an MBA. These are some of the important factors you should consider when choosing to pursue your MBA:

  • Your career goals and future prospects
  • Cost of investment
  • Institution and provisions
  • Resources and placements
  • Courses offered and their value

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