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‘MBA is still the best bet for students and professionals’

In its ongoing series of conversations, DNA Academy invited experts to highlight the state of management education post-slowdown.

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For decades, a MBA degree was the most desired by students as well as working professionals. With an increasing cost of management education, it appeared that only the elite could acquire the qualification. However, after the slowdown has the scene changed? Is a MBA still a preferred option?

Getting industry ready
Experts believe that even though the world is struck by an economic slump, the field of education has not suffered. "We've infact seen an increase in number of students
appearing for entrance exams," said Dr R Gopal, director, DY Patil Institute of Management Studies.

However, if there is an increase in MBA aspirants then how are institutes preparing them to face the job market? "It is very important that institutes train students completely. An MBA without interpersonal/ organisational skills is of no use in today's corporate world," said Dr CD Ashtikar, dean, Institute of Business Studies and Research.

Institutes are conducting a series of lectures, seminars and counselling sessions, to give their students a complete know how about the industry. "When students come to us, they expect us to guide them through the year, with academics as well as job search. We do our best to give them what they want," said Gopal, whose institute conducts a series of institute-industry interaction programmes.

"We call industry experts to give lectures and conduct sessions, this happens atleast once a week," he added.

About preparing students for an extremely competitive job market, experts said that an all round development was required. "Even our faculty has to go through a rigorous faculty development programme. We encourage our faculty to conduct research to stay in touch with industry trends and requirement," added Ashtikar.

What's in it for you?
An MBA can give an edge in the downturn, even to those who are pursuing it in the distance mode. "Candidates with an MBA degree definitely have an upper hand during job interviews," said Gopal. Where finance and HR have been hit as s sectors for recruitment and systems and operations related recruitment have been frozen; marketing jobs are being offered aplenty. "Financial marketing has picked up in the slowdown. Banks, broking firms, trading firms are stressing on employees to market their products in a more efficient and productive way," said Anjan Maiti.

In fact, MBA students are snatching these jobs due to the skills and attitude picked up during training. Sectors like Pharma, biotech, engineering have been leaders in hiring management graduates.

Over 10% students in all institutes are also opting for entrepreneurship; as funding has not frozen. From ideas on agribusiness, micro finance, event management, education, biofuels, students are exploring several marketable ideas. "Entrepreneurship requires one to use his/ her grey cells and work smart. We have started an incubation cell to help develop student's ideas," highlighted Gopal. 

Even rural India is showing a lot of potential. "Recently, under the Common services centre scheme, the government has sanctioned over Rs5472 crores to funding four lakh entrepreneurs in rural areas. These will in turn create indirect jobs for thousands of people," informed Ashtikar.

Maiti also predicted job market trends for the next few years, "Management skills will be essential at all levels. Organisations will become increasingly flat from their hierarchal structure." He added, "More contract jobs, virtual offices and job cuts at a higher level will be witnessed." Experts agreed that in the coming years, industry will also require leadership qualities and team playing skills in all employees, making management education extremely essential.

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