A university level institution, Business school awards degree in business administration and management. The topics in their syllabus include accounting, finance, public relation strategy and quantitative methods. As in other universities, business schools also provide bachelors and masters degree, post graduate, diploma and doctoral degrees. Top business publications like Business week, The Economist, etc ranks the various MBA programs which are published in the journals. To provide a better exposure to the graduates, the schools are increasingly creating international programs.
Business Schools in India
In this era of globalization management education has assumed greater importance. Hundreds of MNC’s are coming to India and they require managerial skills. Management education fulfills their requirements as a result of which management institutes are mushrooming in this Country. There are a number of business schools in India both private and government. The most aspired and reputed with an excellent track record being the Indian Institute of Management (IIM), Xavier Labour Research Institute (XLRI), Indian Institute of Technology (IITs), Indian institute of foreign trade, New Delhi (IIFT), Amity Business school, Symbiosis Institute of Business management, Pune, Indian School of Business, Hyderabad, Xavier Institute of management, Bhubaneswar and many others. As per the Business Today magazine by the India Today Group in 2011, IIM- Bangalore was ranked as number-1 management institute in India followed by IIM-Calcutta, Ahmadabad, Indore, Lucknow, Kozhikode, IIFT-Delhi, ISB-Hyderabad, IIM-Shillong, XLRI-Jamshedpur. They are ranked according to their track record, high quality education and the number of students being absorbed into the corporate. IIM’s have the highest number of students who are entrepreneurs in their professional life and they are amongst the oldest management schools in India. Their band equity lies in its top-notch facilities and an excellent group of faculty. They have excellent placement record as well as teaching techniques that gives a solid foundation to students in general management along with analytical and quantitative skills.
A number of management entrance tests are being conducted each year for admission into top business schools. Most common National exams being the CAT (common Admission Test) for IIM admission, MAT (management Aptitude Test), GMAT (Graduate Management Admission Test) etc. Apart from these few business schools conduct individual aptitude entrance tests for admission to that particular school. The exams are followed by Interviews. The tests are objective types with reasoning, problem solving, verbal ability and data interpretation. There are many coaching centers spread all over India, who guides and trains students for these exams. These exams are notified in the local dailies as well as employment newsletters.
In India more students are opting for MBA after graduation because of wide variety of career options ahead of them. MBA can be done on full time, distance learning and part time basis. Non-government accredited one-year fast-track programs have proliferated in India, especially for candidates with work experience. Many call this as Executive MBA. A number of universities also provide MBA degrees online. Management studies make a person more competent, build his/her personality and confidence and make him a better manager or a better leader.