“Management is a function of coordinating the people’s efforts to achieve the goal as per the company policy by planning, leading, organizing, and controlling”.
In management study, the students are taught about the management skills, leadership skills, decision-making skills, entrepreneurship development skill, communication skills and strategic management skills.
Management is always considered as a blend of science and arts. Management education started its journey artistically with a partial touch of science.
Discussions and deliveries were more focused on human resource management, consumer behaviour, physiological aspects involved in business, ethics, and morals in business. As the time progressed and globalization took over nationalization, management education started feeling a drift. The economy moved faster than one expected and travelled from socialist to capitalist. Business started revolving around revenue, profit, and cost rather than moral, ethics, and humanity. As per need, science started taking over artistic style of management. The overall scenario has changed from being artistic manager to scientific manager.
The most often and vital task of a manager ‘decision making’, has not remained artistic any more. Scientific decision making implanted its feet strongly. Inception of computers brought revolution in management holistically. Management decision making is no longer a job of a thinker or an experience holder only.
Today, Most people look up to management education as a panacea for success in corporate and professional life. Let us examine why management education holds such significance even in today’s world! Firstly, corporate structures are changing: start-ups, mergers and acquisitions are now an expected part of the corporate life-cycle.
Secondly, the new corporate environment is in process of shifting from the familiar competitive model to a more collaborative model that values performance of team’s as much as individual contribution. Finally, an understanding of technology and information systems, including the internet and other communications advances, is extremely vital to be successful. Management programme (or the MBA) covers these areas thoroughly. Hence, management education can contribute to a successful career.
MBA degree can give you an edge over other employees or candidates for managerial positions. In fact, some companies would require managerial candidates to get a management degree to qualify for a management position. Some would argue that management education is a waste of time and money, and that one can succeed without a MBA tag in one’s curriculum vitae. Although a management degree is just one of many contributing factors in career success, graduate degrees such as an MBA have their own merits, and would prove to be an advantage when one is competing for a managerial position.
The following are some of the other reasons why management education would make good ‘business’ sense:
Young urban professionals with MBA degrees or pursuing management education are viewed to have more potential for promotion to leadership or managerial positions than other candidates, which can easily be translated to savings and profits on the cost of staff hiring and training.
People holding a management degree are considered as forward-looking professionals who step ahead of their peers, and are innovative, creative, and visionaries. Management professionals are considered as good and well-informed business decision makers, who value statistics, careful studies, and planning while taking calculated risks. Those with management education are found to be aggressive and tenacious in any undertakings. Getting an MBA is a result of hard work and perseverance in itself because of stringent requirements than a bachelor’s degree.
Paradigm shift has taken place in management teaching. Not only the content but the overall pedagogy of teaching is curved. Introduction of new analytical software packages each passing day, made the task even more challenging. Started from calculators, to scientific calculators, to MS Excel, to SPSS, to MINITAB, to MATLAB, to PYTHON to R data analysis has become the most fluid and conversational subject in Management. The beauty of data analytics is that it is applied effectively in all functions of management.
Database management decisions is strongly emerging nowadays. Companies are compelled to adopt the success of database management decisions. The manager these days must have skill-set to analyse and interpret data to make effective decisions. The other challenge is that data is piling up each passing minute. Abundant availability of data, put a challenge to make smart decisions on the basis of specific data mining and analysis.
The effective working flow in the management field is as the follows:
In management study, the students are taught about the management skills, leadership skills, decision-making skills, entrepreneurship development skill, communication skills and strategic management skills. In India, there are various B-schools for pursuing management education. Indian Institutes of Management (IIMs) are considered best for pursuing management courses. There are total 20 IIMs which primarily offers postgraduate, doctoral and executive education programmes.
You can go for management courses with any stream in 12th standard (Science, Commerce, Arts). Nowadays, every discipline of any subject refers to a leading management programme. No matter, whether you have any subject in the 12th standard you are eligible for management study in term of that.
Eligibility & Admission Procedures
For UG Courses: Minimum qualification eligibility required to apply for undergraduate courses in management field is 12th / intermediate.
For PG Courses: For admission to master’s courses in management field, students should have bachelor’s degree.
For Doctoral Courses: For admission to Ph.d / M.Phil in management, one should have master’s degree in management.
Admissions into undergraduate management courses is commonly done on the basis of merit. Merit is prepared on the basis of candidate’s performance in qualifying examination (12th). Some institutions/Universities provides admission on the basis of their own entrance exams like SET (Symbiosis Entrance Test), NPAT(NMIMS Programs After Twelfth), IPMAT (Integrated Programme in Management Aptitude Test), AUMAT( Alliance Undergraduate Management Aptitude Test) , BUMAT (Bharati Vidyapeeth Undergraduate Management Aptitude Test), Christ University Entrance Test etc
To get admission in postgraduate management courses, students need to apply for entrance exam. Typically, admissions into MBA course is done through CAT / MAT / CMAT / XAT / SNAP / NMAT/ ATMA etc. In addition to these entrance exams, there are many other entrance exams conducted for admission to postgraduate courses. Students seeking admission in foreign Universities can apply for GMAT. The students selected on the basis of entrance exam are then required to appear for Written Ability Test (WAT), Group Discussion (GD) and Personal Interview (PI). The final admission would be done on the basis of all these components.
Courses & Duration
The management programmes in India are offered as the full-time regular as well as the part-time or online education. There are three types of management education courses:
Diploma courses leading to the 2 year diploma programme
DBA - Diploma in Business Administration
Under-Graduate degree courses with the duration of 3 Years / 5 Years
BBA - Bachelor of Business Administration
BBA+DBA (Specialization) - Bachelor of Business Administration + Diploma in Business Administration
BBA+MBA - Bachelor of Business Administration + Master of Business Administration
BBM - Bachelor of Business Management
BMS - Bachelor of Management Studies
BCA+E- MBA - Bachelor of Computer Application + Executive Master of Business Administration
BA (Management) - Bachelor of Arts in Management
B.Com (Management) - B.Com in Management Studies
B.F.T - Bachelor of Foreign Trade Management
B.H.H.M - Bachelor of Hospitality & Hotel Management
B.H.M - Bachelor of Hotel Management
B.Sc. (Business & Management) - Bachelor of Science in Business & Management
Post-Graduate degree programme with the duration of 1 / 2 years
MBA - Master of Business Administration
MMS - Master of Management Studies
PGDM - Post Graduate Diploma in Management
PGDBM - Post Graduate Diploma in Business Management
PGDBA - Post Graduate Diploma in Business Analytics
PGDGM - Post Graduate Diploma in General Management
PGP - Post Graduate Programme in Management
EPGP - Executive Post Graduate Program
Few Colleges also have Short Term Programmes like Executive Education Porgramme, Management Development Programme that usually have duration for a few days to a week that enhances knowledge of individuals in various fields.
Various Specializations/Electives offered under Management Courses are: