Business Administration

Are you dreaming of becoming an icon in the business world? Acquiring a degree in business administration specially MBA (Master of Business Administration) will go a long way in helping you to climb the ladder of success. Business is omnipresent in our day to day life while we make a transaction no matter how small it is! Business is not only about buying and selling but also about innovating, growing and sharing. The field makes use of resources such as men, money, material and management. Management studies discuss the effective utilization of resources through planning and direction, resulting in the successful operation of business.

Business administration is one of the most sought after careers and it is all about managing business functions such as finance, management, services etc. It can be defined as the process of managing and supervising the business and related operations of a company or organisation. Business Administration has become prominent with the rapid growth of industrialisation which made the industries think of a scientific approach towards business. As a result, a large number of business schools have come up rapidly all over the world, and a degree in Business Administration has become the norm. India is one of the major countries which offer good business education.

With a wide range of specialised fields like Marketing, human resource, operations, finance etc., Business administration is one of the glorious and most paid professions of this era. It is an achievement-oriented profession which has opened limitless opportunity in diverse spheres with the promise of rewards in the form of good remuneration, status and scope. Personal skills such as communication, analytical ability and professional skills like time management and presentation are needed for a bright prospect in this career. Many Indian and foreign institutes are giving professional coaching in this field and the highly paying placements through campus selection is an added attraction.

Master of Business Administration (MBA) is considered as the basic and ideal qualification for taking up a rewarding career in the field of management. Though there are several bachelor's degree programmes like BBA, BBM etc from where one could get the basics of Business Administration, it is only through MBA course that one can specialize in a particular field of Business Management. Having an MBA goes a long way in getting top management positions in the corporate world. It is the key to the continual success of careers in sectors like manufacturing, business, education, healthcare and other service sectors.

Eligibility & Course Areas

There are several diploma, under graduate and post graduate programmes in management. But MBA which is the post graduate degree in management is considered as the prerequisite for top management positions in the corporate world. Bachelor of Business Administration (BBA), Bachelor of Business Management (BBM), Bachelor of Business Studies (BBS) are some of the under graduate courses. One should have 10+2 or equivalent qualification for applying for Bachelor courses. Normally Bachelors programmes are of 3 years duration, but it varies depending on the institutes. 

The basic qualification for MBA is a graduation in any discipline such as B.Com, BA., B.Sc., BE/ Btech etc. However, subjects such as commerce, economics and mathematics would prepare a candidate better for pursuing business studies.

There are full time and part time post graduate programmes in management, i.e full time/ part time MBA and PGDM (Post Graduate Diploma in Management/ Business administration) programmes. For better career prospects, fresh graduates are required to enroll for 2 year full time programmes. Technically there is no difference between 2 year full time MBA and PGDM programmes. MBA programmes are awarded only by the universities or university affiliated colleges whereas PGDM programmes are honoured by independent colleges. 2 year full time PGDM programmes are considered equivalent to MBA. 1 year / part time PGDM programmes which are meant for working executives are not equivalent to MBA. But there are exception for some top B Schools where their 1 year programmes are considered equivalent to MBA. So students must be very careful while choosing the programmes. Doctoral degrees in business administration are generally only for those who wish to pursue the academic or research sides of the field.

Selection : 

Reputed Business schools admit students on the basis of a 3 stage selection process that includes a written examination followed by a group discussion and personal interview. Generally written examination are of two to two and a half hour duration with multiple choice objective questions which covers various aspects of aptitude tests like Basic mathematics (Quantitative Analysis), English language (Verbal Analysis), Reading Comprehension, Data Interpretation, logic, general knowledge etc. Getting a good score in this written test is not enough to assure the seat. There will be group discussion (GD), team-building task and personal interviews (PI). Students are admitted, based on rank lists prepared on the performance in the written test, GD and PI. Some institutes consider the marks in the graduation level also. Extra curricular activities and qualifications like work experience will be an added advantage to the candidates but are not compulsory. 

Common Admission Test (CAT) conducted by Indian Institute of Management (IIM); Management Aptitude Test (MAT) by All India Management Aptitude Testing Service (AIMATS) New Delhi; Xavier Admission Test (XAT) by Xavier Labour Research Institute, Jamshedpur (XLRI); Joint Management Entrance Test (JMET) by Indian Institute of Technology (IIT); ATMA by the Association of Indian Management Schools (AIMS) are the major national level entrance examinations for admission to management courses. Even though these exams are conducted by the respective institute for their admission, its scores are widely accepted by many of the Indian Business Schools. MAT exams are conducted 4 times a year while all the others are held once in a year. Certain Business schools and universities conduct their own entrance test and some of these include National Management Aptitude Test (NMAT), Symbiosis National Aptitude (SNAP) Test, Open Management Admission Test (OPENMAT) by Indira Gandhi National Open University (IGNOU), Written Admission Test (WAT),IBSAT, CEMAT etc. All these exams follow the same syllabus and students can write 2 or 3 of these, so that they can apply to multiple institutes.

Course Details: 

The course help students to fine-tune their business analytical skills, understand the corporate world and perform to the expectations of the industry. Students are given solid foundation in the principles of Business management. Economics, organizational behavior, marketing, accounting, finance, strategy, operations management, international business, information technology management, supply chain management and project management are the subjects covered in the management courses. Theoretical aspects and practical issues of managing business are taught in the institutes. All the students are exposed to the practical scenarios through various methods of teaching. In the 1st year of the course, they are trained in all aspects of business like marketing, finance, human resource, operation management, production, systems etc. During the 2nd year, there will be elective areas and the students can specialize in any one of the field of management. The core subjects of specialisation in MBA include Finance, Marketing, Human Resources, Production and Systems. Beside these, there are over 20 areas of specialisations one can choose from. Retail, Hotel, Tourism & Travel, Airport & Airlines, Hospital, Finance & Services, International Business, Construction, Banking & Insurance etc are some of them.

Personal skill:

Motivation and certain personal skills are needed for a successful career in this profession. Hectic work pressure will be there and one needs to be tactful when dealing with clients and should be patient and possess keen business expertise. Good communication skills, leadership quality, ability to motivate and work as part of a team, time management skills, ability to understand and solve problems are the needed attributes. Quick thinking and the ability to come up with new ideas are advantageous. Merely text book knowledge will not help a candidate even though it can help him easily make a way in this field. On the job, they have to ensure that they are in touch with the latest practices and their skills should be kept updated. They should be aware of the current global scenario, economics and industry trends.

Several universities abroad have tied up with many Indian business schools to offer their International MBA programmes. Students can enroll in these programmes, but there is a little chance for global exposure. Another option is the twinning programme. Here students can complete the 1st year of their course in India and can go outside to the university/ institute to complete their course. Or they can enroll in the abroad university for their studies. There is ample opportunity for pursuing courses in management abroad- UK universities offer MBA as a one year programme. But one must always be careful about the choice of the institute.

Job Prospects & Career Options

Business management is one of the most sought after careers, and a wide range of opportunities are available for Business Administration graduates. It is easy to get managerial or executive jobs for those who hold business degrees especially an MBA degree. And from this executive post one has an opportunity to climb the ladder and occupy the top most positions in the company. As many MNC's are coming up and Indian companies are going for joint ventures, there are ample career options in this field. 

The major job prospects in the field of management are :

A Marketing manager is one who manages the marketing techniques such as advertising, distributing and selling of a product to the clients properly. He should understand the four Ps well that are product, price, placement or distribution, and promotion or publicity. A Financial manager has the responsibility of managing the capital (finance) of the company. He should be very clear about the budgeting of the company. AHuman Resource Manager is one of the most important persons of an organization as he manages the manpower of the company. Recruitment, training, induction, employee benefit administration, performance appraisal are some of the major responsibilities of a Human Resource Manager of the company. An Operations Manager is one who manages of the resources, goods and service. Apart from these major areas, there are several specialised areas like Information Technology, Hospitality, Tourism and Pharma Management.

MBA graduates with B-Tech background are highly in demand than the other degree holders. Many Indian and foreign companies conduct campus placements in the business schools so that the students can straight away join any company as soon as they complete their course. One could also choose the field of teaching as the Business schools are mushrooming rapidly. Setting up one's own business is another option for the graduate as he has sufficient knowledge about the industry through his education.

A good GMAT (Graduate Management Aptitude Test) score is needed for better placement and exposure in countries outside India. It is the standardized test required for doing MBA or PhD in Business Management or any other graduate management programmes from a business school in US, Europe and Canada. Some of the foreign institutes prefer TOEFL and IELTS scores.

Institutes

Many institutes in India as well as abroad offer Business Administration courses and India has more than 1500 Business schools. Some institutes such as National Institute of Technology – Calicut (NIT-C) offer MBA exclusively for B.Tech graduates. The MBA courses that are offered from the institutes affiliated to a university only will be valued and such courses should get the approval of All India Council for Technical Education. Some students prefer MBA graduation outside the country as they have global ranking..

Click on the following link for more details on institutes that teach Business Administration in India and abroad…

 » Advance Diploma in Business Administration (ADBA)
 » Advance Diploma in International Hotel and Business Administration
 » Bachelor of Business Administration (BBA)
 » Diploma in Business Administration (DBA)
 » Master of Business Administration (MBA)
 » Post Graduate Diploma in Business Administration (PGDBA)

Overseas Institutes :

 » Institutes in USA
 » Institutes in Canada