♥ MASTER OF BUSINESS ADMINISTRATION (MBA) PROGRAMS & COURSES ♥
The Master of Business Administration (MBA) is an internationally-recognized degree designed to develop the skills required for careers in business and management. The value of the MBA, however, is not limited strictly to the business world.
Master of Business Administration, commonly called MBA, is one of the most coveted and prestigious educational qualifications in India. Earlier, most MBA degree holders in India were qualified from American universities.
However, the scenario has changed over the last seven decades. Nowadays, MBA courses in India are available, including in remote parts of the country, thanks to online MBA courses and distance education.
Several state-run, private and foreign universities offer different courses in MBA. You can opt for classroom studies, online MBA courses or through distance MBA in India.
Thanks to the boom in the Indian economy, ‘Make in India’ drive by the Indian government and entry of several newer sectors in this country, business schools and universities here now offer MBA courses in many specialized fields.
Hence, there are various types of MBA courses in India.
Best Business Schools for MBA:
The country’s most prestigious business school, Indian Institute of Management, offers various types of MBA courses in India.
A) MASTER OF BUSINESS ADMINISTRATION (MBA) PROGRAMS
I) Post Graduate Diploma Programs:
Business Management (PGDBM)
Marketing Management (PGDMM)
Financial Management (PGDFM)
Human Resource Management (PGDHRM)
International Trade Management (PGDITM)
Banking and Finance Management (PGDBFM)
Supply Chain Management (PGDSCM)
II) Diploma Programs:
Business Management (DBM)
Marketing Management (DMM)
Financial Management (DFM)
Human Resource Management (DHRM)
International Trade Management (DITM)
Banking and Finance Management (DBFM)
Supply Chain Management (DSCM)
III) Certificate Programs:
IV) Advanced Certificate programs:
B) List of Various types of MBA Courses:
The best types of MBA courses in India are available from all the top B-Schools. Here, we provide MBA course details of each specialization. The first 10 courses are offered by the foremost B-School, the Indian Institute of Management (IIM). Here is the top MBA course list and the names of colleges are also given.
I) Decision Sciences:
MBA subjects in Decision Sciences will help you to make critical decisions for your company to solve anticipated and unexpected problems that arise in companies.
You will learn different models and techniques used for decision making and troubleshooting.
Additionally, you will also gain knowledge about various theories and best practices that go into making critical decisions at corporate levels, in various industries across the world.
An MBA in Decision Sciences is available at IIM
II) Economics & Social Sciences:
With an MBA in Economics and Social Sciences from IIM, you will learn MBA subjects including macroeconomics with a focus on trade, International Finance, International Monetary Economics, Monetary Policy, Economic Growth and related fields.
You will also work on issues related to development economics like Agriculture, Education, Labor, Environmental Economics, Intellectual Property Rights (IPR) and Gender, among others.
As a student of IIM MBA in Entrepreneurship, your courses will cover research that spans a wide range of theoretical perspectives in entrepreneurship, research methods and tools, and specific MBA subjects covering different contexts in which the entrepreneurship phenomenon is observed and practiced.
Coursework includes courses from allied disciplines like economics, strategy and organizational theory.
IV) Finance & Accounting:
Key fields of study for the MBA in Finance & Accounting at IIM includes: Corporate Finance, Tax Havens and Illicit Funds, Financial Management of Non-Corporate Sector, Asset Pricing, Capital Markets, Corporate Governance, Derivatives, Financial Accounting, Financial Institutions and Services, Banking, Insurance and Pension, Market Microstructure, Risk Management, Cost Management and Valuation, among others.
V) Information Systems:
Subjects in MBA for Information Systems at IIM include: Impact of information systems in managerial decision-making and examination of the future role of Information Technology in different business segments, IT and Impact on Business Models & Organizations.
It also includes studies and research in IT Strategies for Business Process, Re-engineering, Managing Globally Distributed Services, Global IT Outsourcing, ICT enabled Relocation of Jobs, E-Governance and ICT for Development, among others.
IIM’s MBA Marketing specializes in: Business to Business Marketing, Consumer Behavior, Product Management/Brand Management, Marketing Decision Models, Competitive Marketing Strategy, Services Marketing, Relationship Marketing, Sales and Distribution Management and Retailing, among others.
VII) Organizational Behavior & Human Resources Management:
Topics covered in IIM’s MBA in Organizational Behavior and HR Management include: Personal Growth, Achieving Competitive Edge through People, Human Resources Management in High-tech Organizations and SMEs, Leadership and Organizational Change, Human Dimensions of Corporate Restructuring, Cross-Cultural Issues in People Management, Judgment and Decision Making, Personal Values and Attitudes, Social Entrepreneurship, Organizational Structure and Processes, Knowledge Management, Work-Life Integration, Organizational issues in Health Care Management and Organizational Diversity Issues.
Specialized courses are also offered in Organizational Theory, Philosophy of Science, Organizational Behavior, Positive Psychology, Behavioral Decision Making and Human Resources Management.
VIII) Production & Operations Management:
Subjects in MBA for this course IIM MBA in Production and Operations Management include: Sustainable Operations, Cellular Manufacturing, IT Services and Electronic Commerce, Enterprise Resource Planning (ERP), JIT Operations, Supply Chain Management, Manufacturing & Service Strategy, Health Care and Services, Manufacturing Planning and Control, Quality Management, Technology Strategy, Sourcing & Procurement and Logistics Management.
Further courses are available in Optimization Theory & Mathematical Programming, Stochastic Models, Advanced Production Planning and Management, Revenue Management, Empirical Models in OM, Advanced Operations & Supply Chain Management and Strategic Sourcing.
IX) Public Policy:
Agriculture and Rural Development, Democracy and Decentralization, Environment/Ecological Economics, Health Policy, Industrial Policy, Infrastructure, Institutional Structure and Effective Governance, Policy Modeling, Public Finance, Public Management, Public Service Delivery, Regulations, Urban Governance, Public-Private Partnership, Political Economy, Gender and Development are the main topics you will study for IIM’s MBA in Public Policy.
According to the IIM website, students for its MBA in Strategy will study topics including strategic management, international business, strategic alliances, developing new products, management of technology & innovation, and corporate governance.
XI) Hospitality & Tourism Management:
The MBA Hospitality & Tourism Management is a generally a two-year MBA course offered in India by private and top B-Schools.
It will help you enter India’s booming hospitality and tourism industry, which is the largest in the world. This MBA will enable you to develop skills including analysis and impact of global issues facing hospitality industry.
Effect of operating environments for hospitality and tourism services providers, sensitivity towards different cultures, global issues and news, opportunities for business growth, strategic planning and coordination with other service providers in the sector.
XII) Logistics & Supply Chain Management:
With India lagging behind in logistics and supply chains, there is an urgent need for MBAs in this field.
The MBA in Logistics and Supply Chain Management is a two-year course. You will learn the importance of effective logistics and supply chain management.
Study topics include basics of logistics and supply chains, cold chains, e-commerce, air, sea, land and rail freight management, needs of E-commerce, FMCG, manufacturing, retail and agricultural sectors, logistical needs of airlines, freight companies, hospitality industry, healthcare sector and others.
XIII) Food & Agriculture Business Management:
The Post Graduate Program in Food and Agriculture Business Management offered by India’s leading B-School, IIM Ahmadabad, ranks as the best MBA in the world of its kind since several consecutive years.
It aims at developing young women and men “into competent professional managers for the agriculture, food, agri-business, rural and allied sectors,” says the IIM Ahmadabad website.
The program caters to the needs of enterprises serving these sectors, both domestic and international. The program equips participants with knowledge, skills, and attitudes for decision making and implementation in agribusiness.
It encourages entrepreneurial capabilities in participants to make them effective change agents in agri-business and helps develop participants’ capabilities to become leaders and nurture in them a commitment for integrity, ethics, and social purpose, it adds.
XIV) General Management:
MBA in General Management is the most common. The course is offered by almost every university and B-School offering MBA programs.
Indubitably, the best MBA in General Management is offered by India’s most prestigious and best B-School, IIM Ahmedabad.
You will learn various techniques for managing various departments in small and large companies, troubleshooting skills and practically everything you need to launch a successful career in management.
However, admission to IIM Ahmadabad’s General Management MBA is rather tough.
An MBA in Law may sound rather strange. However, one of the topnotch B-Schools of India, NMIMS, Mumbai, is offering this two-year course.
“MBA (Law) Program will prepare students with necessary knowledge and skills of business administration along with enhanced knowledge of business laws both from domestic and global perspectives.
It will also provide application orientations to all young lawyers aspiring to excel in the corporate and consulting world, with specific skill sets for business administration and major relevant laws,” states the NMIMS website.
As India witnesses a change in corporate and company policies and with an increasing number of foreign companies/ multinationals entering the Indian market, an MBA Law will launch you on a great career.
This is one of the best MBA courses in India.
XVI) Pharmaceutical Management:
Another great course offered by NMIMS, Mumbai is MBA in Pharmaceutical Management.
As the medicines sector of India is flourishing and grows into one of the most advanced of its kind in the world, doing an MBA in Pharmaceutical Management will help you launch a superb career.
“The objective of MBA Pharmaceuticals Management course is to develop students, over the period of two years, by rigorous fieldwork and academics, for managerial positions in the Pharmaceutical Industry,” says the NMIMS website.
XVII) Social Entrepreneurship:
Thanks to stimulus given to start-ups in India, a large number of individuals are now eyeing entrepreneurship.
Once again, Mumbai-based NMIMS emerges as the pioneer in a new stream of courses, the MBA in Social Entrepreneurship.
“This is a comprehensive program for development sector professionals who aspire to excel in an increasingly complex and competitive scenario. The program endeavors to develop strategic orientation and motivation for success with a social conscience.
The Part-Time MBA courses in Social Entrepreneurship prepares students for innovatively approaching public needs with a combination of entrepreneurial practices and social purposes through the for-profit, nonprofit, and governmental sectors,” the institute says.
XVIII) Airline & Airport Management:
Courses for MBA in Airline & Airport Management are very rare in India. One of the best MBA courses in India is Kasturi Institute of Management’s MBA in Airline & Airport Management, conducted in collaboration with the Bharathiyar University of Coimbatore in Tamil Nadu.
This MBA is a two program that can help you bag jobs at management levels in airlines and airport handling companies.
The part time MBA courses available too. We term this as best MBA course in India since the country’s aviation sector is growing at a dizzying pace almost every month.
Hence, India will witness more air carriers entering the market while newer civilian airports will also open across the country. The syllabus includes Airport Operations Management, Airport Support Services and Facilities, Airport Financial Management, Air Traffic Management and Control Systems, International Airports, Airlines and Carrier Operations Management.
XIX) Real Estate Construction & Management:
With an aim to create competent civil engineering professionals and employable individuals who have sound technical and management credentials to participate in state-of-the-art infrastructural development with global ensign for the benefit of the society, NMIMS, Mumbai offers an MBA in Real Estate Construction & Management.
NMIMS offers only 30 seats every year for this high-demand MBA program, which aims at enhancing skills of civil engineers in technology and management. The program also focuses on research, development and entrepreneurial skills of students. Real estate majors of India support it.
XX) Upcoming types of MBA courses in India:
As the Indian economy grows, so does the number of specializations of MBA courses. During the last three years, newer models of courses in MBA have emerged and main among these are:
a) Hospital & Healthcare Management:
Coming from one of the leading universities – Pune-based Symbiosis Institute of Health Sciences (SIH) is one of the best MBA programs in India.
It is one of the rare internationally acclaimed MBA in Hospital & Healthcare Management in India.
This two-year full-time MBA program is ideal, should you be eyeing a career in healthcare IT, health insurance, hospital management and IT, clinical research and management or healthcare related Non-Government Organizations, wellness industry, medical consultancies and pharmaceutical manufacturers.
India ranks as the second largest telecom and IT market of the world. India’s mobile service industry will account for some US$400 billion to the national GDP by the year 2020.
The industry will generate some 4.1 million new jobs by 2020, according to the Global System for Mobile Association (GSMA).
You can be part of this flourishing industry by taking one of the best MBA courses in India, in Telecom & IT. This high demand course is offered by the reputed, Pune-based MIT School of Technology.
The MIT-SOT’s MBA in Telecom ranks among the 100 best B-Schools of India in 2017.
The two-year full-time MBA course aims at developing skills that are scarce in India but urgently needed to cater to the growing telecom and IT sectors.
c) Digital & Social Media Marketing:
An MBA in Digital and Social Media Marketing is rather newcomer to India.
Courses offering this MBA program are extremely rare. India’s most venerable B-School, IIM offers MBA in Digital & Social Media Marketing Strategy from its Kolkata campus.
This program is excellent for you want to enter the world of digital and social media, which are already popular worldwide and have immense growth potential.
Course in media and mass communication in India is especially useful for your career since India has many companies that are not part of the digital economy.
d) Events Management:
Events management is a sector that is growing in India.
While there are hundreds of event management companies in this country, there is a severe dearth of educational institutes that provide training in this field.
A few private educational institutes, however, are now offering MBA in Event Management on full-time and part-time study basis. Should you be interested in entering the entertainment, exhibitions and similar industries, you may consider this MBA program.
e) Corporate Communication & Public Relations:
You can put your interpersonal and public speaking skills to great use for a profitable career with an MBA in Corporate Communications and Public Relations.
Pune-based Symbiosis Institute of Mass Communications (SIMC) offers a two-year program, the MBA in Communication Management. SIMC ranks as the second topmost college for mass communications in 2017 according to a survey by the media group, Outlook.
These MBA programs have been created taking into account the requirements of the media and communication industry, regarding knowledge, skills, and attitude, at the entry level as well as during the initial progression within agencies or a media houses, says SIMC.
XXI) List of MBA Specializations:
The list of the most popular MBA specializations in no particular order is as follows:
- Human Resources
- Information Systems
- Operations Management
The increasing competition has necessitated the need for competitive positioning and excellent marketing skills including the ability to differentiate your product and create a niche for your company in order to sustain long-term profitability for your products or services.
The marketing department plays a crucial role in any organization as they are responsible for bringing in new businesses, growing the revenue, increasing market share and contributing to the company’s growth and profitability.
Students opting for this specialization would be able to get insights into various key areas required for every organization or corporation, some of which include market research and analysis, competitive analysis, consumer behavior, customer analysis, business ethics, product management, brand management, advertising, digital marketing and e-commerce.
Whether your interest area lies in market research or advertising or sales/distribution of FMCG (Fast moving consumer goods), consumer durables or you’d like to work in IT sales, media, marketing of various services, internet marketing, an MBA in marketing will give you the chance to explore jobs in a wide variety of sectors.
2) Human Resources:
A specialization in HR helps you understand how to acquire, manage and retain workforce within an organization in a systematic and organized manner.
This area aims to provide you with the knowledge and ability to manage employees and execute the related work processes within a company covering various aspects including recruitment, selection, training and development, designing jobs, assessments and motivation (promotions/rewarding performance of employees), health and safety, compensation and managing exits from a company.
It also involves managing relationships or any issues arising between the management and the employees. They have to ensure that a cordial relationship exists between them for the smooth functioning and the success of the organization. They may also be required to take charge of various activities like get-togethers or off-site visits which may be an integral part of the office culture.
This area seems to be a popular choice and as per Top MBA, it accounts for around 22% of the post-MBA career choice. The irresistible pay packets offered in some of the finance-related jobs may be the responsible for the high influx of MBA grads into the finance stream.
The specialization helps you get thorough insights into how the financial world functions, the various financial theories and how these can be applied to solve the various business problems.
Your career choice could be in any of these areas: investment banking, asset management firms, hedge funds or private equity, portfolio management, credit risk management, hedge fund management or derivatives. Even the non-financial firms or companies would have their in-house finance department which would provide various job opportunities in finance.
4) Information Systems:
The use of technology has extended to almost every sector and industry which is why there’s a growing demand for professionals with a combination of business and advanced technical expertise.
The specialization would help you to efficiently manage e-commerce so that you have a thorough understanding of the changes in the competitive business environment; you’d have gained the technical knowledge of emerging technologies in the IT field.
The various areas that may be covered in this specialization include systems analysis, network security, data analytics, supply chain management, e-business along with managerial decision-making as well as project management.
Consulting is another favorite choice, perhaps a dream destination for some. The high profile jobs offering fantastic salaries with perks and the opportunity to travel places is primarily responsible for the allure surrounding this profession.
Consultants are hired when an outsiders’ opinion and expertise is needed to provide solutions to specific problems or challenges faced by the organization or take charge of projects that may be beyond the capacity of the internal staff.
There are various sectors related to the consulting profession including the more popular ones like strategy consulting, IT/technology consulting, operations consulting, boutique consulting to the lesser known areas like HR, investments, public relations/media, education or advertising.
Those opting for this profession may be able to boast about the wide variety of projects they handle for various clients in a variety of industries or geographical locations. However you need to examine the working hours as some of these areas may cause your work-life balance to go for a toss.
This concentration involves developing the knowledge and strategic skills and business concepts for launching your own start-up and networking with others with an entrepreneurial vision. Entrepreneurs face the challenging task of building a business model with the available limited resources.
The curriculum combines theory with real-world projects so that you are aware of the possible roadblocks and know ways to successfully handle different situations and take the right decisions.
You would be able to use your creativity and analytically assess the market scenario to create a business plan. You would be able to interact with successful entrepreneurs and learn from their successes and failures.
7) Operations management:
The knowledge of operations management would empower you with the expertise required to efficiently manage the entire system related to manufacturing or services in a manner that the organization has a competitive edge over others.
The newer perspectives and the analytical skills brought in by the MBA grades can help address the various issues faced towards managing the entire process which includes product design, manufacture, supply chain management, quality control, co-ordination between various teams including various decisions like outsourcing.
List of other MBA specialization based on Industry:
While the earlier list focused on functional specialization, you could also have an industry focus. Here’s a representative list of industry specialization.
Health / Pharmaceuticals / Biotech
i) Health / Pharmaceuticals / Biotech:
This is for those professionals intending to pursue their careers in pharmaceuticals, healthcare, diagnostics or the biotech industry. It covers the various aspects including legal, ethical and regulatory aspects of the pharmaceutical sector as well as product management and marketing research for introducing new products in the market.
ii) Media / Entertainment / Sports:
This specialization prepares students for a management career in media or other creative streams. It equips you with the knowledge of various key factors in the area of media management. The topics taught may include the following: music, publishing, theatre, sports, radio among others.
The focus is on preparing students to contribute to the social sector. They learn the required skills for the success of their non-profit organization including various community change solution, managing fundraising, marketing and fund allocation and leadership skills.
Other specializations include international business, strategy, supply chain management or construction management.
While choosing an MBA specialization area, it always works in your favor if your interest is aligned with the career choice. If you choose a field only for the glamour or the salary associated with it, it may be possible that it wouldn’t sustain your long-term interest and you may experience burnout after a few years of work.
Other types of MBAs in India:
The advent of private universities has seen the launch of several MBA programs in India.
However, these appear to be an offshoot of specialized branches such as finance and economy, hospitality and tourism and others.
While courses such as MBA in Petroleum or the more esoteric, MBA in Perfume sounds tantalizing, you will have to determine credentials of educational institutes offering such courses.
Some such courses on offer may be bogus or as we mentioned earlier, an offshoot of some specialized branch.
Sometimes, such MBAs are nothing but General Management courses meant for engineers and specialists in the field.
Facts & Figures:
Before opting for MBA Courses, we present some facts to assist you in making the right career decision.
Nearly 6,000 educational institutes MBA studies in India. These include government-run, private and foreign universities.
Educational institutes in India offer MBA courses of two to four-year duration.
You can do an MBA by home studies: online or distance education, or conventional classroom courses from most of these universities.
An MBA course can cost anything between Rs.150,000 to 1 million, depending upon the educational institute.
MBA courses from the 20 plus top ranking business schools of India witness the greatest demand from students.
An estimated 500,000 students across India enroll for MBA courses of all types every year.
About 350,000 students graduate as MBAs from various universities every year.
Employment for MBAs:
Considering the above facts, it is evident that India churns out the highest number of MBA degree holders annually.
Unfortunately, a report compiled by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in 2017 reveals some rather disappointing facts.
Highlights of this report include:
Less than 10 percent of MBA holders in India get employment.
Among those MBAs who find work, the average salary is just about Rs. 10,000 per month.
Quality of training for MBA courses in India, especially at private universities and online MBA courses is rather poor. Hence, graduates are generally ill-qualified for jobs traditionally held by MBA degree holders.
Employment opportunities are bright only for MBA degree holders who graduate from prestigious business schools or state-run universities of India.
According to a report compiled early 2017 by the All India Council for Technical Education, the country will witness a huge demand for MBA analysts in coming years.
This demand will be fueled by the Make in India initiative and opening up of more sectors in this country for Foreign Direct Investment and Foreign Institutional Investment.
The report encouragingly states, between 35,000 and 40,000 MBA graduates will be needed at junior and middle-level managerial positions for the Indian private and public sectors every year.
Regardless, to embark on a successful career, you will have to enroll for an MBA course in some specialized field, for different MBA courses offered by topnotch business schools and state-run universities.
Understandably, selecting the best MBA course in India can prove cumbersome.
However, with adequate research, you can find a topnotch business school which offers globally acceptable qualifications. Remember about MBA courses are relatively expensive.
Hence, completing a course without acquiring proper and practical skills will only waste your precious time, effort and money.
Getting into IIMs, IITs, Symbiosis, NMIMS, SPJIMR and other reputed B-Schools requires extra effort. However, such additional efforts are worthwhile while considering your prospects in any industry.