A management qualification has its own inherent merits. It helps to climb the steps that lead to exciting and challenging jobs in diverse areas of professional work. Apart from the handsome pay packet, there are attractions like jobs that offer personal satisfaction and a sense of fulfilment achieved through dedicated andgoal-oriented efforts. Our decision to choose this profession should not be based on idle fancy, but on our passion for facing the challenges ahead. We should make an honest self-assessment of our abilities. Perhaps, we aim at changing our career from the one we had opted originally. Many graduates in engineering and technology often switch over to management. Our motivation is vital. We should try to find answers to such questions as "Why should I go for management study?" This kind of enquiry and self-assessment will help us make wise decision in our career.
CHOOSING A BUSINESS SCHOOL AND A PROGRAM
Once we decide that our career is in management, we should gird up our loins to meet the challenges in the admission process of business schools. Full awareness of the demands of the schools will help us to build our skills to face the tough competition ahead. We may have to secure professional help in fine-tuning our skills. Mere textbook knowledge may not necessarily lead us to success when we are competing with candidates who have undergone training under expert guidance. In the current discussion, we are focusing on business schools abroad.
An in-depth study of the business schools, their reputation, and the areas of specialisation offered would assist us in identifying schools that match best our aptitude and abilities. This crucial decision in life should be made only after weighing the diverse aspects, including our aptitude, examination scores, cultural background, capabilities, and financial strength. We have to narrow down a large list of schools and programs. The website www.mba.com would help us by providing a wide range of information on schools, their locations, programs, areas of specialisation, sources of financial aid, and other relevant aspects of management studies.
The Graduate Management Admission Search Service (GMASS) at www.gmac.com offers access to business schools for identifying qualified potential applicants who have already shown convincing interest in graduate management education. It gives their profiles. We can make use of this facility for submitting our profile, if we have secured good scores in the GMAT.
When schools find us, they would contact us through email for additional information and provide us with program brochures, overviews, and so on.
A management qualification is often rated based on the university or institution that has awarded the degree or diploma. This is in sharp contrast with the appraisal of an ordinary academic qualification. If we should get entry to a business school of repute, we may have to face stiff competition from other aspiring candidates. Today's world of business is subject to the strong influence of global factors. No serious business is confined to the geographical boundaries of a country. International trends and multicultural consumer interests form an integral part of modern business activities. This is the reason why all business studies emphasise global management. Even those who have graduated from top business schools in India sometimes go for a second MBA from top schools that enjoy global ranking. There are several styles of ranking based on a variety of factors. Still, it may be seen that Indian business schools seldom appear in the global rankings. Some of the schools that are often listed at the top at the global level are listed below.
• IIM, India
• University of Pennsylvania, Wharton, U.S.A.
• Harvard Business School, U.S.A.
• Stanford University GSB, U.S.A.
• London Business School, U.K.
• Columbia Business School, U.S.A.
• Insead, France/Singapore
• MIT, Sloan, U.S.A.
• IE Business School, Spain
• University of Chicago GSB, U.S.A.
• University of Cambridge, Judge, U.K.
• Ceibs, China
• Iese Business School, Spain
• New York University, Stern, U.S.A.
• IMD, Switzerland
• Dartmouth College, Tuck, U.S.A.
• Yale School of Management, U.S.A
If we can prove our mettle through fine scores in the globally accepted GMAT, we may be able to secure admission in some of the good business schools — not necessarily those listed above. Several institutions in India also accept GMAT scores for the preliminary selection to management programs.
Human Resources managers and recruiters lay emphasis on the quality and reputation of the school that has awarded the MBA degree. If we aspire to the highest echelons in management, a high score in GMAT that leads to studies in a good school will be of great help and assistance.
Of course, when we try to identify good business schools, we should keep in mind such factors as quality academic environment, desirable teacher-pupil ratio, areas of specialisation offered, experienced members of the faculty, interaction with the industry, professional business associations, fine placement records, and healthy alumni network. When we join a good school, one significant advantage is that we will have the benefit of constant interaction with brilliant fellow students who have also come on the strength of high GMAT scores and excellent competitive skills.
There is a rise in the percentage of students undergoing business studies outside their own country. The choice comes for diverse reasons, such as:
• Better academic environment compared to that in their own country
• Better study styles
• Better placement/career opportunities
• International/multi-cultural exposure
• Global reputation of the school
It is a good idea to ascertain all these factors before we finally opt for a school, after securing adequately high GMAT score to get selected to it.