MBA (Masters in Business Administration)

Masters in Business Administration is a degree course which arose in the 20^th century in the United States. MBA was an outcome of Industrialisation and need for scientific applications in business to improve the functioning and conduct. MBA is a post-graduate level course which is available in many specialised fields and many countries.

Source: Skillspanda – MBA

MBA

MBA is a post-graduation, masters course which is for two years and adds to the knowledge of business and overall management of the students. MBA has evolved from being a single full-time course and now is available in a variety of formats, like full-time MBA, part-time MBA, executive MBA, distance MBA and more options.

MBA Full Form

The full form of MBA is a Master in Business Administration.

• It specialises in the field of Business and its effective management 
• Based on scientific methods 
• Is a postgraduate and a master’s course
• Provides practical exposure along with theoretical knowledge 

What is MBA?

MBA is a post-graduate degree which focuses on the field of business but has diverse areas of knowledge and specialisation. MBA teaches students the technical and managerial skills necessary for every new-age manager. MBA adds leadership skills and helps to accelerate one’s career.

MBA Courses

There are various courses and domains in which MBA is available. Programs can be classified into full time, part-time, online, executive, correspondence and more.

Also, the MBA is spread into various fields as hospitality and tourism, marketing, finance, economics, organisation behaviour and many more. There are numerous upcoming courses in diverse areas apart from business.

• MBA courses available all over the globe 
• Can be full time, part-time or even online 
• Available in different domains and fields 
• MBA courses depend and differ by colleges 

MBA In Canada

Canada, the second-largest country in the world and is part of the North American continent. Canada is a developed country with excellent prospects for job and quality education. It has 10th largest economy and is ranked amongst the top in the Quality of life index. Many international students every year come to Canada for their higher education. Canada offers various MBA programs which are recognized worldwide. 

• A multicultural and diverse environment 
• High quality of life – clean water and air 
• High-quality education facilities with internationally recognized degrees 
• Hands-on work experience 
• Full-time work opportunities available 
• Great immigration opportunities available for students

Top 5 universities in Canada for MBA 

• University of Toronto – Rotman School of Management
• Western University – Ivey Business School
• Queen’s University– Stephen J.R. Smith School of Business
• Schulich School of Business, York University
• HEC Montréal

MBA Entrance Exam

 Some popular MBA entrance exam in India are CAT, XAT, NMAT, SNAP and MBA entrance exam for abroad are GMAT and GRE. MBA exams have different syllabus concerning a particular exam but the topics are usually similar corresponding to Logical Reasoning, Quantitative Ability, Data Interpretation. While the most institutes accept GMAT and GRE scores but some institutes have their entrance exams.

CAT

The Common Admission Test, a computer-based test for admission in a graduate management program in India. Scores are valid until a year. More than 2.5 L student take this test every year.

GMAT

The Graduate Management Admission Test is a multiple-choice, computer-based and computer-adaptive standardized exam that tests candidates knowledge and calibre and is required for admission to MBA programs globally.

GRE

Graduate Record Examination is the world’s largest assessment test and more than 5,00,000 students take this test every year across the globe.

MBA requirements 

There are some basic requirements which are there for students who want to pursue an MBA and is standard for all most al the universities throughout the world. It is important for students to meet these requirements to be eligible for admissions.

• The basic requirement is completed a bachelors degree.
• Full-time degree from recognised institutes is preferred.
• Most MBA programs require a minimum of 2 years of work experience.
• A good score in required entrance exams.
• Recommendations from supervisors or guides. 

MBA In Finance

MBA with specialisation in finance is about mostly focused on dealing with numbers, mathematics and economics along with accounting are used to study trends and work directly in money related areas. MBA Finance is a course which encourages and helps to get a job as a Financial Manager in a company. Students who have done their postgraduate in MBA Finance(Financial Management) can work with government and public sector companies as finance officer, risk manager, insurance manager, treasures, manager finance & accounts, to name a few.x

• Covers accounting, financial planning, banking, corporate financing and other finance-related areas.
• Strong focus on theory and financial analysis
• Prepares students to become financial managers 
• Covers broad areas of finance 

MBA Syllabus

A general MBA provides a broad outlook and offers knowledge in almost every field of business so that the student does not remain unknown to any one area. An MBA is of two years and in the first year students study all the general aspects and then in the second year, they can take up a specialisation.

• The first-year syllabus consists of compulsory subjects 
• All the students should undertake these subjects 
• Students can choose electives from second year onwards 
• The syllabus is made rigorously and is continuously upgraded according to recent trends
• Case studies are used to teach students 

MBA Subjects

MBA in the first year consists of compulsory subjects for all the students; students have to undergo these subjects and three terms in the first year. From second year onward students can choose their electives and specialisations. 

MBA syllabus subjects-

Term 1

• Financial Markets
• Financial Reporting and Analysis
• Human Resource Management I
• Individual Dynamics
• Legal Aspects of Business
• Managerial Computing
• Marketing I
• Microeconomics
• Operations Management-I

Term 2

• Costing and Control Systems
• Quantitative Methods 2
• Financial Markets
• Human Resource Management II
• Transforming Business through Information Technology
• Interpersonal Group Processes
• Macroeconomics and Policy
• Marketing II
• Operations Management II
• Personal and Corporate Ethics

Term 3

• Business, Environment and Society
• Business Research Methods
• Corporate Finance
• Government Systems and Policy Process
• Internet-Enabled Businesses
• Managerial Analysis and Communication
• Marketing III
• Organizational Dynamics
• Strategic Management 

MBA Colleges

There are more than 1000 institutes all over the world that provide students with MBA courses. But every institute differs from each other. Most candidates prefer top institutions when it comes to education. A good education ensures quality education and adds to students career. 

Top 5 MBA colleges in the world

• Stanford Business School, US
• Harvard Graduate School of Business, US 
• The Wharton School at the University of Pennsylvania
• London Business School, UK
• MIT Sloan School of Management, US

MBA Jobs

The demand for MBA’s is increasing every year, many business requires professional employees who can handle the work effectively and help the organisation grow. Thus MBA graduates have an excellent career opportunity available to them.

Top 5 Jobs after MBA:

MBA In Australia

Australia is the smallest continent and one of the largest countries on Earth. It lies between the Pacific and Indian oceans in the Southern Hemisphere. At present, the population of Australia consists of more than 270 ethnic groups. Australia is one of the wealthiest Asia–Pacific nations and has enjoyed more than two decades of economic expansion. Over the past years, more than 300000 students came to Australia. 

• Aussie Modesty 
• Multi Culture Society
• Scholarships available 
• High Quality Of Education 
• Work Opportunities Availability 

Top 5 universities in Australia for MBA

• Melbourne Business School, the University of Melbourne
• AGSM MBA, University of New South Wales
• College of Business and Economics, Australian National University ANU
• La Trobe Business School, La Trobe University 
• Monash Business School, Monash University

MBA In Germany

Germany or officially the Federal Republic of Germany is one of the largest countries of Europe, boasts skilled labour force, a large capital stock, a low level of corruption, and a high level of innovation. 

• Low Tuition Fees
• High-Quality Education
• Work Opportunities
• Wide Variety Of Programmes 

Top 5 Universities in Germany 

• Technische Universitat Munchen
• Ludwig-Maximilians, Universite Munchen
• Ruprecht- Karls, Universite Heidelberg
• KIT, Karlsruher Institut for Technologie
• Humboldt, Universite Zu Berlin

MBA in the UK

The United Kingdom is a unitary parliamentary democracy and constitutional monarchy. It has a partially regulated market economy and is the fifth-largest in the world.

• High-Quality Education Standards
• Maximum Cross Culture Exposure 
• Great Immigration Opportunities Available 
• Work Opportunities Available

Top 5 Universities in U.K 

• University of Oxford
• University of Cambridge
• UCL, University College of London
• Imperial College London
• University of Edinburgh

Online MBA

The online MBA is a distance learning done over the internet and is a part-time learning experience which students undertake. Most students taking this program are either employer-funded or self-funded. This option is apparent for those who cannot forgo their salary or relocate themselves.

• For those who want to do job and study together 
• Can be done over the internet and at the comfort 
• No need to relocate 
• Adds to one’s qualification and acts as a career boost 

MBA Admission 

MBA is a post-graduate degree which focuses on the field of business but has diverse areas of knowledge and specialisation. MBA teaches students the technical and managerial skills necessary for every new-age manager. There are some basic requirements which are there for students who want to pursue an MBA and is standard for all most al the universities throughout the world. 

• The basic requirement is completed a bachelors degree.
• Full-time degree from recognised institutes is preferred.
• Most MBA programs require a minimum of 2 years of work experience.
• A good score in required entrance exams.
• Essays and SOP for MBA 
• Recommendations from supervisors or guides. 

MBA In Marketing

Marketing is the process of promoting and selling goods to the customers and to satisfy them.

MBA in Marketing refers to gaining insights into the business by understanding the business from a market perspective. Students learn from real case studies and theories which help them to get a point of view and students also undertake live projects to get hands-on experience. 

• Learn about various consumer trends
• Strategy and planning 
• Learning communication and analytical skills 
• Job opportunities in major and many domains 

MBA In International Business

MBA In International Business is a two year MBA program which offers the study of global trends and how to employ them effectively to increase exports of a country in which the organisation lies and to know the commerce from the international level and point of view. Helps to specialise in foreign trade. Students learn to successfully manage ventures on a global scale. Helps to gain knowledge of the cross-cultural marketplace.

• Students from any field can join 
• Gives knowledge about global businesses
• Helps to specialise in foreign trade 
• Great career opportunities available 

MBA In HR

Human resource refers to the employees of any organisation and is the most valuable asset for an organisation therefore it becomes imperative to manage the employees effectively and efficiently. Most demanding profession, thereby its need is increasing day by day. An HR manager plays a vital role in recruitment and cooperating with employees daily.

HR managers take care of employees welfare and motivate them.

• Excellent communication and planning is needed
• Human understanding and relationship building
• The role is to hire the best talents 
• The welfare of employees and motivating them

MBA In USA

The USA or the United States of America is a country comprising 50 states, a federal district, five major self-governing territories and various possessions. The USA is the world’s highly developed economy. It is home to many cultures and a wide variety of ethnic groups, traditions, and values.

• Rich Field of Choices for International students
• Professional Study Environment
• Dynamic Classroom Atmosphere

Top 5 Universities in the U.S.A

• Princeton University, New Jersey
• Harvard University, Massachusetts
• Columbia University, New York
• Yale University, Connecticut 
• Massachusetts Institute of Technology, Massachusetts

Difference Between Pgdm And MBA

Although both PGDM and MBA are done at postgraduate level and are similar to each other still there are some stark differences between them and people generally get confused in both the courses.

MBA vs MS

Though both MBA and MS degrees are available at postgraduate level but differs. From each other in various aspects.

MBA Eligibility

There are some basic requirements which are there for students who want to pursue an MBA and is standard for all most al the universities throughout the world. It is vital for students to meet these requirements to be eligible for admissions. Different institutes sometimes have different criteria for selection, therefore it is essential to check all the points before applying.

• 3/4 year bachelor degree
• Good Entrance exam score
• Cleared language proficiency test
• Work experience
• Transcripts

MBA Fees 

MBA is an internationally-recognized degree which helps students and professionals to take essential job roles. However, its value is not limited strictly to the business world. 

In India the approx. average fees for MBA go about up to rupees 5lakh per year.

Average fees of top four MBA institutes in India-

• IIM Kozhikode    – INR 8,75,000
• FMS Delhi           – INR 10,500
• NMIMS Mumbai –   INR 9,25,000
• IIFT New Delhi   – INR 7,85,000

In abroad the approx average fees for MBA goes around from $45,000 to $80,000 per year.

Average fees of top four MBA institutions outside India-

• Stanford Graduate School of Business – $65,000
• Harvard Business School -$60,000
• Kellogg School of Management- Northwestern University – $65,000
• Booth School of Business -University of Chicago – $65,000

MBA after Btech

It is an undergraduate academic degree offered in India which mainly has its focus on computers and technology. It is a four-year course and has its minimum eligibility an intermediate or 10+2 from a recognised board or university. MBA is a highly valued degree created and designed to develop skills for careers in the management world. 

After a Btech, the MBA will serve one with various benefits-

• Good career scope in IT industries
• Exposure to business and management related issues
• Adds strategic and qualitative skills to students the analytical capability
• Openings to new job positions
• Increase in the earning potential 
• Growth in the world perspective 

MBA Books

B-schools organises a list of books ranging from a wide variety of authorities for those who wish to obtain a strong foundation for a successful management career. 

Some of the MBA entrance exam preparation books one can use are:

• NCERT mathematics books
• Trishna’s Verbal Ability and Logical Reasoning by Pearson
•  Prepare for Quantitative Aptitude for the CAT Arun Sharma
• Quantitative Aptitude for CAT Nishit Sinha
• Word Power Made Easy Norman Lewis etc. 

MBA Books:

• Principles of Management
• Managerial Economics
• Accounting for Managers
• Business Legislation
• Business Communication & Information Systems
• Research Methodology & Quantitative Techniques 

MBA Duration 

• The Duration of the Course is 2 years, the typical full-time MBA student takes three courses, per semester. 
• The span of part-time MBA programs can vary in length. Most part-time programs take two to three years to finish while some programs can last up to five years.
• The tenure of the course can vary from one year to two years in case of an online MBA course. 
• Executive MBA is a Management Course focused around working professionals. The duration of the course is from 1 year to 2 years.