Today there are more than a thousand institutions in our country offering PGDM's and MBA degrees.
Management Education in India made a formal beginning in the 1950's, with the Indian Institute of Social Welfare becoming the earliest institution to have a formal education programme in management education. In the 1960s the Government initiatives in management education became a reality with the establishment of two IIM's, one in Kolkata and another at Ahmedabad. It was observed that there was a good demand for these management graduates and their need was felt in all sectors. Naturally the demand for management education programmes grew and having a Post Graduate Qualification in Management became the in thing. The private sector too entered this field and several educational ventures were launched. Today there are more than a thousand institutions in our country offering PGDM's and MBA degrees. The aspiring student no doubt has a vast choice but the claims made by the institutions with their attractive endorsements actually put him/her into a mire of confusion.
This brings us to the million-dollar question that every student is faced with: How should I choose the institution that would make or break my future?
First things first – Ask yourself, why do I want to get a Post Graduate qualification in Management? Is it because I want to get a lucrative job? Or become an entrepreneur? Or am I just doing it because my friends are. Clarify your objectives first.
Next, gather information about the institutions from various sources like journals, the Internet, your friends and relatives. One very crucial source of information would be the alumni of the institute as well as the students currently pursuing the course. For some students location may limit the choice of the institution.
Your search parameters must essentially include: Infrastructure: A good institution must provide an interesting learning environment in terms of well equipped labs and libraries, classrooms, discussion rooms, conference rooms, auditorium, canteen and facilities for some extra curricular activities.
Faculty: Even world-class infrastructure is no replacement for good faculty. Check for the profile of the faculty; look for their experience in the industry, the courses they cover and the academic achievements beyond teaching. Ideally an institute must have a faculty profile, which is made up of a healthy blend of academicians, policy makers, administrators and managers to deliver the knowledge, skills and give a comprehensive perspective of the corporate world.
Pedagogy: Find out what teaching methods are used. Ideally it should include lectures, case studies, seminars, group discussions, business games, role-plays, simulation exercises, structured and unstructured group work and field visits. At this level the emphasis should rest on involving the students in learning and helping them to relate concepts and theories to business requirements. Consistent with advances in teaching technology, the programme must familiarise students in the use of computers and utilising them in different functional areas of management.
Course Curriculum: Examine the course curriculum, see how often it is updated, how relevant it is to industry demands. (You can ask your parents or teachers or maybe any of your relatives from the industry)
Placement Record: Placement here refers to two kinds - placement during summer internships and final placements. Generally a good summer placement would also result in a final placement. However ask for details as to where the students were placed for internship in the previous years, how professionally the internship was managed by the institute and the outcome of the same.
Final placement is of course what most people look for, except for those who want to start off on their own or manage their family business.
Industry-Institute interface: Much has been said about this by several institutions, claiming to have a good industry-institute interface. However it is not enough if the institute has arranged visits or invited experts from a particular industry to visit the institute. It is vital to know the quality of interaction between the industry and the institution in terms of live projects, conferences and workshops held of this purpose.
Finally before taking the plunge, remember, a good institution is no replacement for hard work and a great attitude. Go ahead and jump right into the fascinating world of management education. All the best!!!!
