Friday, January 28, 2011

How relevant is the prior job experience before seeking the MBA admissions in MBA colleges?

The Masters of Business Administration is the post graduate degree which provides the skill, knowledge and training in the management of different functions of the business to the candidates. It makes you abreast with the basics of the different functions like the human resource, finance, marketing and other disciplines. The MBA admissions are the most sought after by the candidates looking to improve their career prospects. Most of the reputed business schools intake their candidates through some admission test which can be held either independently or a few colleges can conduct a combined test. The tests can also be conducted by some authority or organization which is entrusted with the responsibility of regulating the affairs of some of the MBA colleges.

There is often a dilemma with the students whether to take the MBA admissions in the colleges immediately after their graduation or first do some job and then take to the MBA education for the furtherance of their career prospects. This dilemma is not something new. Most of the MBA colleges do not require the job experience as their qualifying criteria but some of the reputed ones might still be requiring the same. Some of the reputed MBA schools Delhi do require job experience in the relevant field for getting enrolled. For the candidates, the dilemma is really intriguing since the two years can directly affect their careers. But, it can be resolved by carefully examining the following factors:

1.    Reputation of the institute: If you are trying for the top institutes, then it does not really matter whether you are trying for admissions after having the job experience or not, unless the institute requires the same. For the less reputed ones, doing a job first might mean that the time is lost and even after the completion of the MBA, there is no guarantee that a very good or higher package might be obtained. Therefore, it is normally considered more prudent to complete the education, including the graduation and the MBA in one go.

2.    International or domestic MBA: If you are looking to seek MBA admissions in the foreign institutes then generally job experience is preferred. A stint in the social or non-profit sector is also preferred by some of them. Therefore, if the consideration is to take admission in such an institute, then a job experience is preferred.

3.    Candidate’s own background: For the well-off, there are lesser problems. For the not so well off, the job considerations after the graduation might be weighing heavily on mind. Taking a job is not wrong per se, but the right time for doing the MBA shall be chosen. Too much delay in seeking admissions to any of the MBA colleges might be a loss of career opportunities and prospects in the long run.

Institutes generally view job experience very favourably. This does not devalue your chances of gaining admissions in the top MBA colleges or your ambitions. On the contrary, it speaks volume about your determination to excel and only adds to the positive factor.

Give Your Career an International Character .

Finance is the backbone of any organization’s operations. Unless finance is provided timely and adequately to all the departments of the organization, its functions cannot be carried out smoothly. The management of finances, therefore, assumes great importance. The ability to generate as well as expend the money in sufficient amounts so as to facilitate friction-free operations is the prime motive of effective financial management. Professional education in financial planning and management, therefore, assumes great importance. For the working professionals, specialized, short term financial certification modules of finance are taught at convenient timings.

The two prime motives of working employees doing a financial certification course are to update your knowledge about the latest trends in this field and to enable horizontal job rotation of the employees across the finance function. The latter is usually done to make the person capable of handling multiple functions in the organization.

At the international level, the course that is mostly recognized is the Certified Financial Planner course. This is the course for finding a job opportunity into the US finance market and is also recognized by a number of other countries including UK, Canada, Australia, Singapore, Malaysia and others. The CFP program is also done for managing the self-wealth. Its essential focus is on risk analysis, investment scenarios, retirement planning, tax planning and real estate planning. This course is offered through the Financial Planning Standards Board in US and through its affiliates in other countries.

The main objective of this CFP financial planning certification course is to impart the knowledge of financial planning to people so that they can become self sufficient and self reliant of handling their and the organization’s financial matters.  In India, this course is offered through the distance learning format and by conducting the regular and the weekend teaching classes. The course is different from other finance courses essentially in its focus on key finance subjects. Also, there are certain Practice Standards which are required to be followed while actually practicing financial planning.   

All through the course and even before, at the entrance exam level, there is emphasis on ethics part of this profession. This is what sets it apart from other finance courses being offered. That does not mean that the other courses teach one to be unethical, but the standards are more elaborate and are taught as special matters of study in the CFP class .

The institutes offering the certification courses also offer the degrees and diplomas of different durations through classroom and distance education learning options. For availing the CFP program, you have to clear the module 1 of the six modules at first. Thereafter, you can take up modules 2-6 in one go or separately, as per your convenience. This certification does open up a lot of career growth opportunities at national and international level. Worldwide recognition gives you an opportunity to work and settle in most of the countries of the world. By choosing this financial certification course, you become a member of the global elite of finance planning professionals.

Tuesday, January 25, 2011

What is taught in the finance courses?

CFA courses are the hot favourites among candidates who want to seek better employment opportunities, domestically or abroad, or for managing finances on their own. 

Money and wealth have always been important. The individuals, organizations, communities, kingdoms and the modern nation-states which have not been able to manage and grow their wealth have failed and become weaker. The requirement of managing finances is felt by the families and the businesses, by the profit-making or non-profit organizations, by the private sector and by the government institutions and so on. Considering that there are a number of reasons to learn how to manage the finances, the Finance Courses are offered at graduate and post graduate level by the private and the public institutions.

The specialized  course in finance covers the study of micro and macro economics, accountancy, personal and corporate finance, investment and merchant banking, financial markets and derivatives, the venture capital, mergers and acquisitions, real estate and many other fields. A lot of emphasis is laid on how to read the financial figures and analyze them for taking appropriate managerial actions. Apart from the function knowledge of finance, the regulatory knowledge of finance is also given to the students. This incorporates the laws and rules and regulations pertaining to the different aspects of financial compliance as outlined by the regulatory authorities.

At the end of a Finance Course the student is able to understand, plan and act to resolve the whole conundrum of finance. He or she is able to take effective decisions on how to generate and use money for different purposes, how to streamline the cash and funds flow from different sources and invest the same, so that the organization never faces the cash crunch and is also able to grow as per the desired business goals. Since the field of study is very vast, the students are required to specialize in a few selected fields as per their choice in the final year of the two year postgraduate course.

Now, a number of learning modes are available to the students. Although the class room study is still the favourite of the students, the finance courses are also offered through the distance learning medium and, more recently, through the e-learning tutorial modules. There are respective advantages and disadvantages of each of the medium. The jobs market also differentiates between the importance and relevance of these study mediums. A student passing out from the regular finance course is more likely to find a job than the ones who have studied through the distance learning programs. The employers lay a lot of emphasis on the conceptual clarity, the nature of summer training projects and the industry interaction of the candidate.

For those who are willing to seek finance jobs overseas have the option of pursuing those courses in finance
which have global acceptance. These are generally offered by some private institutes that, in turn, have to obtain due approvals from the foreign authorities in charge of administering these programs. There is no doubt that the finance jobs are some of the best paid ones if you do the courses from the reputed institutes.

Friday, January 21, 2011

What makes an MBA institute so special?

There is always a tough competition to gain admission in top educational institutes. This is also true, and perhaps more so, for a reputed MBA institute. There are some very few institutes which are considered to be talent-pools by the organizations looking for employing talented candidates. Some of the lower level institutes are the second preferences.

Then, there are the bottom rung MBA institutes which have difficulty in even placing their students with the organizations. So, where does the difference lie? Why is it that some of the MBA institutes are world renowned and some others are literally good for nothing?

If the answer was to be provided in just one-word, then it would be ‘quality’. This single word must have been adhered to by the MBA institute ever since its inceptions and would have been imprinted in all its policies, rules and regulations.

Also, there are following reasons as well which create this big difference:

1. Academics: The academics are, naturally, the most important factor which makes the difference. The course curriculum shall impart the knowledge as well as the skills for developing acumen for top level administration of different types of businesses. It has to be futuristic in content and outlook.

2. Faculty: The most learned and experienced faculty definitely makes the difference by their well honed teaching methods. They know what the industry needs, what all shall be taught to equip the future managers with the required tools to manage effectively and efficiently.

3. Alumni: The alumni of the MBA Delhi institute which have brought a good name to the institute by their achievements also bring fame to the institute where they have studied.

4. MBA admissions process: The top institutes focus on the quality of the candidate’s taken-in right at the selection process.

5. Teaching methods: The teaching methods employed in reputed institutes are innovative. These employ the use of all those learning methods which cab clarify the underlying concepts and objectives of every activity and study component.

6. Overall personality development: When students opt for MBA admissions, they are also opting for developing a well groomed personality during their stay in the institute. These are the places where the large international corporations come to take the students and the candidates might be required to fly out of country while on job. Therefore, the acceptable personality traits are imparted to the students.

7. Always in sync with the times: If you are taking the admissions in MBA in India in the top institutes, then you can rest assured that you will be learning about the latest developments in every field that you choose. These institutes make use of the latest technology and the newest teaching tools for students.

8. Facilities: This refers to the adequacy of the infrastructure for aiding learning, the avenues of refreshment like some sort of sporting activities and quality and nutritious food.

So, a combination of all these factors makes the difference between the Top MBA Colleges and the lower level MBA institute. The top ones are able to identify and maintain the right proportions of these factors depending on their utility.

Wednesday, January 19, 2011

Features which makes the MBA colleges more or less reputed?

Career consciousness among the students in the last 15-20 years has seen huge enrolments in career-oriented courses. Some of these, like the MBA, have been very popular because of the big-ticket jobs that are offered to them. Though it is the ambition of every student to do the MBA from the top MBA College, the limitations of seats and the very high level of competition may lead them to opt for the lesser reputed colleges than that. What makes the MBA colleges more or less reputed? Why is a particular MBA in India more popular than the other?

There is an assortment of varying factors or parameters which makes them more or less popular.

1. The alumni: The students of the reputed colleges have proved their mettle in the industry. They have earned the fame and goodwill for their college by their acts. Over a period of time, with more and more students proving their mettle in the industry, the reputation for the top MBA College develops.

2. Courses: The next important determinant of reputation is the MBA Finance courses which are being taught there. The courses have to build up the basics and impart the latest knowledge. The relevance of the course in the present context is very important.

3. Teaching methods: Once you are out of the MBA College Delhi, the companies expect certain standards from you. It has been found that the institutes which maintain a balance between the practical and theoretical learning are better off equipping the students with the required performance levels rather than the ones which emphasise the theory part more.

4. Teachers: The faculty of the top MBA College will be highly experienced and learned. Many of them maintain regular touch with the latest in businesses at a practical level. By doing so, they have the insight of how the various businesses function and what are essential skill and knowledge levels imparted to them. They would have also honed their teaching methods and skills which are easy to comprehend by the students.

5. Facilities available to the students: This is the most common criteria which many MBA aspirants look for. In fact, they over-emphasise its importance while selecting the right colleges of MBA in Delhi. This factor can not be discounted but emphasis on this aspect at the cost of the other more vital selection criteria could prove costly later on, financially as well as career-wise. The student shall adopt a pragmatic approach to see what facilities or infrastructure is really required and the one which can be done without. The institutes which are reputed shall have appropriate infrastructure which aids learning and keeps you fit physically and mentally.

6. Fair selection process: The selection process of the institute shall allow the selection of the cream of students from the others. A good selection process is the first step towards developing their reputation.

Care shall be taken by the prospective candidates to understand that the reputation of the top MBA Colleges is built on solid grounds and not on flimsy marketing methods devoid of substance.

Tuesday, January 18, 2011

Verify all the details of the MBA Delhi institutes before selecting one.

MBA Delhi College and courses are most sought after by the fresh graduates, essentially for getting a good salaried job. However, caution is advised in selecting one.

It is true that management is ‘organized common sense’ but this does not discount the need to have formal education in management. In fact, with diversification and growth of economies, there has been a greater need for efficient and effective managers. The past decade or so has seen a spurt in the number of management institutes and candidates, especially in Delhi and other metropolitan cities of India. The MBA Delhi courses are two year post graduate courses that offer specialisation in any one of the finance, marketing, HR, IT or other functional area.

Management is both an art and science. It requires as much skills to get things done as it requires intellect to do quantitative calculations. The skills and knowledge can be honed while being in the field and gaining practical experience over a period of time. What a formal education in management at Top MBA Colleges does is that it makes you learn things quickly in a much shorter time frame including the practical side of the management. Another major benefit is that the mba education brings forth the best of practices of the world into the classroom. With a more organized approach and global perspective, the candidates are better prepared and motivated to tackle any managerial problem that comes their way. They get prepared to mange any business dexterously in accordance with the law of the land. Delhi does is that it makes you learn things quickly in a much shorter time frame including the practical side of the management. Another major benefit is that the

MBA Delhi course does not only impart the management education, it also gives a firm grounding in operating the businesses as per the socio-economic and environmental commitments of the corporate following ethical and lawful business practices. The MBA College Delhi is fully aware of its binding commitment to produce visionary managers that work for their organization but think for the society as a whole with a broader perspective.

The Universities Grant Commission maintains a list of colleges and universities which has been approved by it and only those institutes which have been approved by it are allowed to offer the coveted MBA degrees. If you are willing to take admission into an institute which offer MBA degree, then it is better to have a look at the website of the UGC for seeing the list of universities and colleges approved by it.

This one step will save you the hassles of getting into the entrapment of some of the charlatan institutes which promise to offer degrees but are not accredited by the UGC. What would you do if some College of MBA in India is claiming to offer the international degree? Well, the best way is to make a call or email that foreign regulatory authority whose name is being used to find out the authenticity of these claims. Spending a few cents on the telephonic call can prevent you the hassles of a lifetime.

In the absence of clear cut policy, weak laws, weak enforcement and lack of awareness among the public, the private institutes are selling their own tailor-made education programs as MBA courses putting at risk the careers of many students.

Saturday, January 15, 2011

MBA from Indian Business Schools.

Some of the business schools of the world are renowned for the quality of candidates that they churn out consistently over a number of years. These very candidates are able to take the positions of significance and importance in the large organizations having global reach. Their faculty, their training and teaching methods, their infrastructure and their global reach gives a very wide perspective to the management of global businesses. In fact, this is what makes them the most famed and sought after institutes of the world. Some of these institutes are here in India as well. There might be some who are a cut above the rest and there might also be some others which are not that famous but provide quality MBA education nevertheless.

The global corporations are always on the look out for talented people all over the world who are not only capable of managing their operations but also capable of guiding and directing them well into the future. They are actually looking for the people with new ideas, practical reasoning, vision to chart out the course in the future and to make their business adapt to the changing realities so that their relevance is never lost. The business schools in India have produced such promising candidates in the past and that is why these global organizations, while on the talent hunt, also arrive on their campuses. It is not surprising therefore to see that not only the Indians but also the foreigner candidates prefer to take admissions in these business schools.

It is not just the job factor which makes them the most sought after MBA education institutes, but also a number of other factors that can be summarised below:

1. Quality of Education: The course curriculum designed by these institutes if future-oriented. Apart from the course material, the nature of training methodology, management exercises and a number of other methods are also used to give practical insights into their workings.

2. Price factor: This is one of the most important factors why the candidates like to do MBA in India. It is very expensive to get admissions into the other world renowned institutes but in India, the management education can be had at a very less price. Since the fees is quite affordable, there are less hassles in taking bank loans for the same.

3. Job opportunities in India: Some of the Indian companies having global operations are hot favourites for some of the foreign employment seekers who are even willing to come, work and settle in India. For them, the growth of the Indian economy holds a lot of promise for the future. That is also the reason why many of them want to do MBA in India.

For the Indians, getting the MBA education in India can mean that you do not have to leave your family in lurch. Even if at a far away distance, you are still at home.