MBA Primer (Part 5): How to choose among different MBA programs?

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Updated on July 10, 2009
Choose between two year, one year and sectoral MBA programs according to your qualification and passion

MBA programs are known by different names in India. While Indian Universities grant an MBA degree, AICTE recognized private MBA institutes offer Post Graduate Diploma in Management (PGDM). Indian Institutes of Management (IIMs) and other top MBA institutes provide MBA programs which are named as PGDM, Post Graduate Diploma in Business Management (PGDBM) and Post Graduate Program in Management (PGPM). While the full-time two-year MBA is the most popular MBA program, one-year MBA offered by leading MBA institutes like ISB or Great Lakes, too, has found many takers.

Some leading MBA institutes like the Mudra Institute of Communication Ahmedabad (MICA), Indian Institute of Foreign Trade (IIFT) and Institute of Rural Management Anand (IRMA) offer specialized MBA programs. Also, in the last few years, there has been a massive growth in sectoral MBA programs like MBA-Insurance or MBA-Retail.

So how does an MBA aspirant make the right choice? In this article, we at MBAUniverse.com try and help you find how to choose the right option. 

Two-year MBA program
The two-year full-time MBA program is still the most popular program offered by top MBA institutes in India like the IIMs, Indian Institute of Foreign Trade (IIFT) Delhi, Management Development Institute (MDI) Gurgaon, Xavier Labour Relation Institute (XLRI) Jamshedpur and S.P Jain Institute of Management & Research Mumbai.

According to a management expert, in the Indian context, the two-year MBA program which had been adopted from the western model of management expression is working well. He said, “The Indian industry prefers recruiting students of the two-year MBA program.”

In the two-year MBA program, the first-year is mainly spent on learning the basics of management. Dr. Anwar Ali, Director, IMT Ghaziabad said, “The first-year is all about developing a strong grounding in basics of management. This gives a very good foundation to the MBAs when they rise in an organization.” The second-year offers a choice of specialization subjects like Marketing, Human Resource or Finance. Students are also exposed to the real world market in the form of their summer trainings and workshops. “The second-year of elective paper provides them with a good depth of areas they are interested in. It provides them with good exposure to the practical field also as they have to do a lot of project work and case studies,” Dr. Ali added. 

One-year MBA program
After the success of the one-year MBA program pioneered by Indian School of Business (ISB) Hyderabad, the program took off in India. Talking about the one-year MBA program offered by ISB Hyderabad, Admissions Director Ms Hima Bindu said, “Our one-year MBA program is specially designed to provide a comprehensive curriculum to the students within a short span of time.”

The one-year MBA program is very intense and fast paced, so whoever plans for it should ensure full commitment for the time period. “The students have to be really determined otherwise it will be very difficult for them to cope up with the huge pressure of completing the whole course within a year,” Ms Bindu said. Candidates should check the eligibility requirements as well as the course structure and content before applying for any particular MBA program, as this will ensure that they make an informed choice.

Great Lakes Institute of Management, Chennai offers one-year Post Graduate Program in Management too. “This MBA program is designed to equip a student to respond to the complex business requirements that arise in a changing global business environment. This program is a fast-track program divided into eight terms,” a spokesperson from Great Lakes Institute of Management said.

But for the one-year MBA program work experience is an important criterion. ISB Hyderabad said, “We look for profiles with at least two years of post-qualification full-time work experience.”

Great Lakes told MBAUniverse.com that their MBA institute too prefers applicants with a minimum full-time work experience of two years. “However, special profiles with less than two years of experience are also considered. We evaluate such candidates on several other criteria. Internship or part-time work experience is not considered,” Great Lakes said. 

Specialized MBA institutes
There are some MBA institutes in India which offer specialized MBA programs too. Some of them are Indian Institute of Foreign Trade (IIFT), Mudra Institute of Communications, Ahmedabad (MICA) and Institute of Rural Management Anand (IRMA).
IIFT provides an MBA program with a specialization in International Business (IB). According to IIFT, “The MBA (IB) is a six trimester general MBA program with a focus on International Business. The program aims at providing a comprehensive coverage incorporating all the important areas and disciplines relevant to International Business activities. The syllabi for MBA (IB) compares favorably with the syllabi of some of the world’s best International Business Schools.”  

MICA, being a communication institute, lends more emphasis on MBA programs which specialize in Communication, Advertising and Public Relations. While talking about the Post Graduate Certificate Program in Advertising Management and Public Relations, MICA said, “This MBA program aims at skill as well as perspective building for junior and middle level executives in the field of Advertising Management. It seeks to deliver skills for managing advertising businesses by combining theoretical learning in the field of communications with the right blend of management education.”
IRMA provides an MBA program with specialization in Rural Management. The program is made keeping in mind those who wish to work for the development of the rural sector. “The Post Graduate Program in Rural Management (PRM) is for those who wish to undertake challenging managerial responsibilities in the rural co-operative sector and development organizations. PRM is recognized as equivalent to a Master’s Degree by the Association of Indian Universities (AIU) and is approved by the All India Council for Technical Education (AICTE).”
But remember, these specialized MBA programs are best suited if you are absolutely sure about your calling! After pursuing an MBA program from a specialized institute you can blend your passion for the chosen domain with your education.
Sectoral MBA programs
Given the boom that many sectors like Healthcare, Retail, Banking, Insurance, Media & Entertainment enjoyed in the past five years, many MBA institutes are also offering sector specific MBA programs such as MBA in Insurance and Risk Management and Retail Management among others. These MBA programs are industry specific and designed to prepare professionals.
Symbiosis Institute of Business Management offers Post Graduate Diploma in Insurance Management (PGDIM). The curriculum has been designed and developed in collaboration with New India Insurance and expert faculty in this field. This is a one-year MBA program with two semesters where subject matters like Principles and Policies of general insurance, Legal aspects of insurance, Property and liability insurance, Personal insurance, Risk management in general insurance are taught. 
Indian Institute of Commerce and Trade (IICT) provide MBA in Insurance Management. “In an ever-changing business environment, the MBA in Insurance Management equips you with the knowledge needed to stay ahead of the competition,” IICT said.
MBA in Retail Management provides you with an opportunity to work for the fast growing retail market industry in India. Some of the MBA institutes offering MBA in Retail Management are Birla Institute of Management and Technology (BIMTECH), Greater Noida, Welingkar Institute of Management, Mumbai, KJ Somaiya Institute of Management Studies and Research, Mumbai, Narsee Monjee Institute of Management Studies, Mumbai and Mudra Institute of Communications, Ahmedabad.
“The PGDM (RM) program is the pioneer two-year full-time program in Retail Management approved by AICTE. This MBA program has been designed keeping in mind the conceptual grounding as well as the practical know-how of the retail industry,” BIMTECH said.
So if you are determined to work in these specific sectors and would like to take up managerial positions, sectoral MBAs can be a great choice. 
Stay tuned to MBAUniverse.com for more articles on MBA Primer.
MBA Primer is a series of exclusive articles prepared by MBAUniverse.com keeping in mind the needs of the MBA aspirants. Based on comprehensive and updated inputs from experts and credible sources, these articles cover topics like Basics of MBA, How to crack written tests like CAT and How to select the right MBA institute. 
Next: How to choose areas of specialization?