In India, a higher education in management or courses after graduation could translate into any one of the three options – a PGDM from a B-School, an MBA from a University or a B-School or a compressed 1-Year Program in management, which is when the course runs on overdrive. However, the objective of any higher education in management or the benefits of an MBA Degree is the same – to equip incumbents to effectively deal with business-related issues and challenges.
Managerial challenges, unlike other issues, are multi-dimensional. They invariably combine aspects of finance, human resources, legal and market-driven inputs – all of which need to be considered when addressing them. Unless one acquires these cross-functional skills, one would never be able to effectively put forth solutions to the challenges. Enter the MBA or equivalent.
The curriculum in any management program is designed to enable incumbent managers to acquire cross-functional skills. The first 50% of the course is devoted to providing inputs on the various functions of management – accounts, finance, cost, marketing, strategy and law – all of which are internalized by analyzing numerous case studies, which are primarily business issues faced by companies.
Similarly, all management programs will have almost 50% of its syllabus dealing with numbers, data and analysis. The course hones the analytical skills of students, which are necessary to obtain a deeper appreciation of the problem and consequently come up with several appropriate alternatives.
Finally, a higher education in management develops the personality of the incumbent manager. A manager cannot work in isolation – he or she needs to work with a team. Managing people is not an easy task because one can never predict human behaviour consistently. During the course, the incumbent develops his or her people-management skills and acquires the confidence to lead and manage a team.
Any surge in business activity must be matched with a surge in business managers, who will be the champions of the growth. A qualification in management is therefore essential.
Prof Sridhar Natarajan is an engineer from IIT Kharagpur and a management graduate from IIM Bangalore. He has 35 years of experience in the industry and academia. He has been the Dean of Chennai Business School since the last 12 years, a B-School that has been ranked 51 (A+++) in the Business India B-School Ratings 2015. If you are looking for short-term management courses in Chennai, a one year MBA program or a one year MBA course, contact Prof. Natarajan. He can be reached at email@example.com