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Management
Management
implies the qualities of leadership and capacity to motivate people to
work in order to achieve clearly defined objectives. It requires taking
decisions based on numerous economic and other factors. Planning,
scheduling, decision-making, controlling, etc., requires information where
as evaluation of technical economic and other factors make management
techniques important. A manager is involved in managing workers,
materials, processes and their interactions.
Management
is an interdisciplinary science that takes concepts from all the social
sciences. It uses economics to determine costs and allocate prices,
sociology to understand values and organisational behaviour of employee,
statistics and mathematics to help in predicting, forecasting and
planning, logic to draw rational conclusions, law to understand the rules
and political theory and understand hierarchy and power.
Management
has become one of the most sought after careers today.
With the advent of globalisation and entry of multinationals
business ethics have undergone drastic changes in our country. Gone are
the days when the owner of a company was the master and the employee a
servant irrespective of the post that the later held in the company. The
business community in India has today recognized the need to strengthen
its operational base with systematic and efficient management practices.
Companies are becoming more streamlined and professionalised, and in the
process, creating a huge demand for competent personnel at all levels. The
need for professional management is being felt even in the non-commercial
areas such as health, welfare and development and education. For aspirants
in the employment market this has opened limitless opportunity in diverse
spheres with the promise of rewards in the form of good remuneration,
status, and scope for professional and personal growth.
Educational
Qualification:
By
obtaining right qualifications and training one can gain entry into this
career quite easily. Entry into this career is also possible by becoming a
specialist in one of the cross functional areas viz hospital management,
hotel management, rural management etc., or by starting as a trainee in an
organization that offers a career in management. Companies however prefer
to recruit business graduates, as they tend to learn jobs faster and are
more capable of handling responsibility.
However
one has to be careful in choosing the institute before seeking admission
to pursue management studies since it matters a great deal for a career in
management Taking advantage of the great demand, many dubious institutes,
offering management courses, have also come up. Even otherwise, sometimes
the syllabus may be outdated and not up to the mark. On the other hand
management qualification obtained from a prestigious institution, like any
of the IIMs, is highly rated in the market and guarantees a well-paid job.
It
is important to remember that MBA degree in India can only be awarded by
an University or a deemed university. All the other institutes including
the Indian Institutes of Management offer Postgraduate Diploma. These
programs are usually of 2-year duration, which includes 6-8 weeks summer
training in between the first and second year. A Bachelor’s degree is
essential for seeking admission in these programs.
The
undergraduate courses or BBS/BBA/BBM or Diploma in Management programs are
three-year courses offered by a few universities/ institutes and is open
to students who have completed 10+2. Birla Institute of Technology (BITS)
at Pilani, Rajasthan conducts a five year integrated management course
(MMS), which is open to students who have passed 10+2 with Physics,
Chemistry and Mathematics.
The
most sought after are the two year MBA courses offered after graduation by
the prestigious business schools like the IIMs at Ahmedabad, Calcutta,
Lucknow, Bangalore, Indore and Calicut, Xavier’s Labor Relations
Institute, Jamshedpur and so on. Candidates in their final year of
graduation may also apply for admission. A written examination known as
CAT (Common Admission Test) is held in December each year by the IIMs.
Details on CAT are available under ‘Exams’.
Other institutes hold separate exams for admission. Some of the
other renowned B-Schools in India are given below:
-
Faculty of Management Studies, University of Delhi, Delhi
-
Jamanlal Bajaj Institute of Management Studies, Mumbai
-
Xavier Institute of Management, Bhubaneshwar
-
Symbiosis Institute of Business Management, Pune
-
Management Development Institute, Gurgaon
-
S.P. Jain Institute of Management and Research Mumbai
-
Narsee Monjee Institute of Management Studies, Mumbai
-
T.A. Pai Management Institute Manipal
Foreign
MBA degrees, especially from UK and US, are also quite a rage among Indian
students. Getting into a good B-School in US is not only tough but may
also be expensive without financial aid/scholarship. Moreover management
programs in US universities require work experience of at least 2-3 years.
More details on this may be seen in ‘Study Abroad’.