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Type of MBA
According to AICTE, the regulatory body of technical education in India, there are more than 3800 B-schools in India which offer different management programmes. If we classify, 3800 MBA institutions in the country, six different types of MBA emerge. These different types of MBAs are offered under many nomenclatures and under different policy framework. It is important for you to understand these differences before you decide on which type of MBA will you enroll.
While IIMs work directly with MHRD, the state and central university MBAs are guided by UGC norms. PGDM institutes work directly under AICTE, with no other affiliation to any other university. Then, many different government ministries have initiated their own institutions like IIFT, IRMA. These institutes vary on various parameters and so does their quality on all three parameters- admissions, education inputs and placements. Refer table for a brief analysis.
The strengths and weaknesses of these different MBAs are below:
Different MBAs: Strength & Weaknesses
|IIMs & Management Departments of IITs/NIT||Individual Ministry
Promoted Management institutes like IIFT, IRMA..
|PGDM||Public University MBA (Central & State)||Private University MBA||Industry supported, unapproved like ISB|
|Approximate Number||25+||10+||283||3000+||300+||No estimates exist|
|Tuition Fee range (in Rs Lakh) for full programme||9-16||IIFT- 12 lakh, IRMA- 4 lakh||5-13||1+||3+||ISB - 20 lakh|
|Strength||Strong Legacy, Strict processes, Established delivery set-up; Autonomy||Government mentorship; financial Assistance; Projects on major government & public policy||Top-20 match IIMs and are strong on
Industry collaborations, faculty base, updated curriculum
Rest are a mixed bag
|Average fee structure; Offer ‘MBA’ degree||Multi-disciplinary approach; Strong Infrastructure; Big on Branding||Complete ‘Autonomy’ with no regulatory obligations; Industry driven curriculum|
|Scope of Improvement||Laggards on global stage with poor research output, rankings and profile. Low on internationalization||While IIFT & IRMA have excelled, many more such institute are too narrow in their specialization and appeal||Regulatory issues; Lack of research focus; bottom-end of PGDM offer poor quality||Poor faculty strength; negative rub-off of lack-luster public university system; low on Industry engagement||Low on Chancellor’s priority; Academic leaders unable to develop a vision; and Unable to build on infrastructure and branding||While some like ISB and SOIL have proved their merit, hundreds of fly-by-night mom-pop shops erode credibility|