Click your way to an online MBA!

MOOCs (Massive Online Open Courses) are fast becoming popular in India. India is the second biggest market for MOOCs, after United States. MyBskool.com is a Chennai-based startup that is pioneering the MOOCs concept in India. Latha Venkitachalam, Chief Operating Officer, myBskool.com talks about the company and shares her insights on India’s burgeoning e-learning landscape.

Debeshi: Can you tell us more about myBskool?

Latha: myBskool.com is a 3 year young startup based out of Chennai, started in October 2010 that is pioneering the MOOCs (Massive Online Open Courses) concept in India. In lines with the MOOCs initiatives of Stanford and Harvard that has revolutionized the higher education eco-system worldwide by attracting millions of students from across the globe.

Debeshi: What are your company’s e-learning offerings?

Latha Venkitachalam

Latha: myBskool offers online management courses to students. Early this year, we launched a free 100-day Mini MBA in partnership with Madras Management Association (MMA) with content co-created with Indian Institute of Management Ranchi. The programme was offered on a portable classroom model with access from PC, tablets and smartphones. We got a fabulous response from the student community. Over three lakh students have registered for this course, thereby making us India's largest online business school.

Debeshi: What are the programmes that you offer in collaboration with other schools?

Latha: We have the Online Mini MBA in partnership with Madras Management Association and content co-created with IIM Ranchi. We offer an Executive Diploma in Business Administration from Mahatma Gandhi University. Then, there is an Executive Post Graduate Programme in Management from IMT Ghaziabad and Short Term Certificate programmes in partnership with MMA and IIM Ranchi.

Debeshi: Your insights into India’s e-learning industry in higher education

Latha: E-learning is the most convenient option for individuals who cannot take a break from work and continue education. This is also a great opportunity to be updated on the subject and keep in touch with the ongoing trends. Moreover, it is the easiest and cost-effective mode of learning.

Debeshi: What are some of the bottlenecks faced by companies in this space?

Latha: Education is linked to employment and recognition of online courses in the employment market is a challenge. Online learning is not accredited by Government bodies. Also, the Internet penetration in our country has not been that fast. People do not want to pay for certification and there is an attitude that anything that comes via the Internet has to be free.

Debeshi: What are your growth plans in the next five years?

Latha: We want to increase our collaborations with foreign universities in areas such as faculty exchange. We are also looking at expanding into verticals such as IT and Healthcare. We want to be known as India’s best online learning company.

India driving global demand for MBA programmes

Indian students are driving global demand for MBA programmes.

Professionals from industries such as banking, retail and finance are looking at the MBA programme as a tool to jump-start their careers. While there is steady interest in foreign schools, Indian b-schools are also reporting an increase in applications.

Piyush Saxena, a mid-level manager at a retail company in Delhi is taking a year off from work to join an MBA programme in the United States. “This is probably the best time to get an MBA degree as far as my line of work is concerned,” reckons Saxena. 


India’s retail sector is set for unprecedented growth with foreign giants such as IKEA and consumer brands such as Starbucks crafting their India stories. Saxena is hopeful of getting a top job with an international retail brand when he returns to the country after completing his degree.

With Asian economies such as India and China establishing themselves as powers to reckon with in the global arena, there is an increased demand for trained managers and management professionals who can thrive in an international setting. Students from these countries are looking for full-time MBA programmes that deliver quality education and international exposure giving them an edge over others.

Research from the latest Annual Application Trends Survey conducted by the Graduate Management Admission Council (GMAC) has revealed that worldwide, Indian, Chinese, and US citizens accounted for the greatest number of foreign applicants to MBA programmes for 43 per cent, 27 per cent, and 6 per cent of MBA programmes, respectively. According to the survey, 83 per cent of MBA programmes in India which accept GMAT scores have also reported an increase in applications.

According to the GMAC survey, 80 per cent of two-year business programmes in Central Asia - a section dominated by Indian schools – have reported higher applications. Though impacted by the worldwide recession the Indian economy is not as badly hit as those closely integrated with the US economy, such as those in Europe.

The survey stated that "Indian business school graduates in 2012, reported large percentage gains in post-degree earnings compared to pre-degree salaries."

Also Indian business schools have emerged as the top study destination for Asians: receiving 41% of GMAT scores sent to top 10 Asian countries. "India and China are the leading Asia Pacific countries contributing to the influx of applications for the full time MBA programmes. The overwhelming response clearly indicates the value placed on quality graduate management education by candidates from this region," says Ashish Bhardwaj, regional director, South Asia, GMAC.

With globalization, the focus has shifted to acquiring skills for success in an international marketplace. Indian applicants are considering MBA programmes that combine academic knowledge, business exposure, learning and cross-cultural experience. Explains Sofia Ribeiro, Director, Marketing & Admissions, The LISBON MBA: “To successfully manage international teams, you’ll need a cultural sensitivity – which is best earned when travelling and working abroad.”

Adds Shirin Jarrar, Director of MBA Programmes, Edinburgh Business School, Dubai Campus: “There are numerous benefits to studying for a Masters in Business Administration (MBA) with common drivers among participants. Career progression, personal development, a desire to acquire new skills and knowledge, and the opportunity to network with like-minded senior managers from differing backgrounds and nationalities are just some of the reasons that students choose an MBA programme.”

According to QS TopMBA.com Applicant Survey 2012, global motivations for taking an MBA are still dominated by the desire for career progression and to learn new skills, followed by attaining a leadership position. Building a professional network and seeking a salary increase, though less important, increased in relevance year-on-year.

 “We go to business school for two years, but the network that we build at school stays with us for the rest of our lives,” agrees Daljit Kochhar, director - KT Advisory, a consulting firm based in India. Kochhar is an MBA graduate from the University of Chicago’s Booth School of Business.

Nunzio Quacquarelli, managing director of QS Quacquarelli Symonds observes: “This year, there is a clear preference amongst global applicants responding to the survey towards career goals rather than lifestyle choices when selecting where to study. Reasons such as ‘would like to work there afterwards’ and ‘create a network’ have proven more popular explanations for selecting a study destination when compared to 2011, while choices such as ‘cultural interest and lifestyle’, and ‘improve language skills’ have dropped considerably in popularity.

The QS survey also indicates that the dominant MBA study destinations remain the USA and UK, but both markets continue to show year-on-year declines in popularity, as have other English-speaking destinations such as Canada and Australia. The popularity of the USA, which was a target destination for almost 80% of respondents as recently as 2007, has dropped significantly. However, it still retains top position by a large majority, attracting 62% of respondents.

Adds Ribeiro: “India is one of the two largest potential markets for us. We get a good number of students from India and would like to focus more on recruiting students for our 2013 programme.” Confirms Sherry Wallace, Director, MBA Admissions, Kenan-Flagler Business School, University of North Carolina at Chapel Hill: “The enrollment of Indian citizens was about 20 per cent higher for Fall 2012 entry than it was in Fall 2011. However, the number of applications for Fall 2012 entry was higher than Fall 2010 entry, but lower than Fall 2011.”

(Published in QS TopMBA)

Demand for Management Education Up From 2011: GMAC survey

Demand for graduate business and management education around the world shows signs of renewed growth, as 51 percent of programs surveyed by the Graduate Management Admission Council report more applications than last year.

Overall demand — as revealed in the 2012 Application Trends Survey — is spread among a greater variety of program types, including part-time self-paced, flexible, and online distance MBAs, as well as specialized master’s degrees in business, including information technology management. 

“As the global business space continues to become more complex, there is a greater demand that business schools today offer specialized and flexible programs to meet corporate and student needs,” said David Wilson, GMAC president and CEO. “Worldwide, these diverse graduate management programs are drawing different kinds of students.  Technology is a part of the solution to this challenge, but it is not the entire solution.  Flexibility in delivery mode, cadence of the program and the characteristics of the class cohort are now all variables in the graduate education solutions being offered.  The message students and companies are sending is clear; one size does not necessarily fit all.”

The annual survey, which charts year-to-year application changes at the program level, shows that specialized master’s programs in management, finance, and accounting continue to show robust growth, and applications to full-time two-year MBA programs appear to be stabilizing globally, with about half of all full-time two-year MBA programs showing increases or holding steady from last year.  

In open-ended comments, admissions professionals responding to the survey noted that economic conditions continued to play a role in student demand for programs. “[A student’s] reluctance to leave full-time position,” cited one admissions professional from a US full-time two-year MBA program. “The economy is picking up and students are finding full-time jobs or have received promotions and do not want to leave to go back to school for two years,” said another. 

A record 744 programs from 359 business schools in 46 countries participated in the survey this year. They include 527 MBA programs, 24 business doctoral programs (PhD/DBA) and 193 specialized masters programs. This year’s survey report includes, for the first time, results for masters in information technology management and masters of marketing/communications.

Asia is the new destination for MBA abroad

Traditionally, the United States and United Kingdom have always been popular overseas education destinations with Indian students. However, in recent years countries in Asia such as Singapore, Hong Kong and China have emerged as alternative locations for Indian students looking for an overseas education experience.

Take the case of Nishaan Malhotra, who graduated from one of Delhi’s top schools. Nishaan has enrolled in an undergraduate engineering program at Nanyang Technological University in Singapore. Malhotra zeroed in on Singapore after attending an education fair. “Singapore came across as a fun, vibrant city and the university is well reputed. Also, Singapore is not that far from India, just a short flight away so my family is also not too worried about sending me far away.”

There are many others like him who are applying to colleges and universities elsewhere in Asia. According to Kavita Singh, CEO, FutureWorks Consulting, a company that provides admissions guidance to Indian students, the high cutoffs and shortage of places at Indian colleges have forced many bright, talented students to look overseas. “While countries such as the United States and United Kingdom are still the top picks, many students are looking east as well.” Singh has a Bachelor of Arts degree from the UK’s Oxford University and an MBA from Columbia Business School in the US.

Asian colleges and universities score highly on the cost and competitiveness factor. While the quality of education offered by institutions in countries such as Singapore and Hong Kong is very high, the cost of education is often lower than universities in the West in terms of tuition and living expenses. Most of these countries are close to India and with their economies thriving, employment options are also plentiful.

Hong Kong, for instance, has made a name for itself in the education arena. Some of its institutions such as the Chinese University of Hong Kong and City University of Hong Kong are favourably positioned in the annual QS World University Rankings™, and QS Asian University Rankings. All eight of Hong Kong’s government-funded universities use English as the medium of instruction. Courses such as engineering, bio-sciences, art and design are popular with Indian students.

"China and India constitute two of the BRIC countries that are signaling a major shift in global economic power. Tomorrow's world will need leaders who can capitalize on this by understanding both countries and facilitate the rapidly increasing trade between them," says Professor John A Spinks, Senior Advisor to the Vice-Chancellor, at the University of Hong Kong.

"We are fortunate in having a number of factors come together at the same time - the priority accorded to education by students and their parents in Asia resulting in high academic standards, the continued support of Asian governments for universities and the investment they provide, and the ranking of HKU as the best university in Asia,” Spinks continued. “With the economic development in Asia and the availability of jobs after graduation, many students are choosing to stay in Asia for their undergraduate studies rather than going to the more traditional educational destinations of the US, UK and Australia. This is the new Spice Route of the 21st century - exchanging knowledge across Asia".

Singapore, on the other hand, offers global education against the backdrop of a vibrant, bustling, culturally diverse city. Three universities that are known for their high academic standards are the National University of Singapore, Singapore Management University (SMU) and the Nanyang Technological University. These institutions have partnerships with leading universities across the world, and their degrees are globally respected.

Popular courses here include those in the fields of science and technology, medicine, and arts and design. However, the cost of living and tuition fees in Singapore are considerably higher than that in China and Hong Kong.

Along with Singapore and Hong Kong, China is also fast becoming an important educational hotspot. Seven Chinese universities rank among the top 200 in the 2011/12 QS World University Rankings™, with Peking University and Tsinghua University both making the global top 50. Chinese universities are known for their programs in medicine and business among other courses.

Another city that has become popular with Indian students is Dubai. Nearly 20,000 students from over 100 countries are enrolled in courses at the some of the world’s leading universities through branch campuses in Dubai.

Dubai’s education sector has expanded phenomenally in recent years. Leading universities from across the globe have set up branch campuses offering both undergraduate and postgraduate programs. The standard of living in Dubai is known to be high, and a comparatively low cost of living enables students to lead a comfortable life. A short flight away from India, Dubai has become a popular hotspot for Indian students looking for an international education experience at a reasonable cost.

With a range of attractive options closer to home now complementing the more traditional study destinations such as the US, UK and Australia, students from India are spoilt for choice when it comes to international education.

For those interested in the career benefits of an undergraduate education, QS’ series of global management education events comes to India from 12th-18th May. Register for free entry to the event by visiting www.topuniversities.com.

Source: Cool Avenues.com

A stamp of approval

Sharon Bamford, Chief Executive of the Association of MBAs (AMBA), was in Delhi recently to speak at a global accreditation conference. The UK-based organisation accredits programmes at 190 business schools in over 70 different countries. Sharon spoke with me about the AMBA accreditation process and global quality standards for Indian business schools.

Debeshi: All of a sudden, leading business schools in India are scrambling for international accreditation. Why, in your opinion, has this happened?

Sharon: India has taken its place at the top table in terms of global politics, global companies and global leaders - it is now important that India's top business schools are recognised for their global standards in research and teaching.

Sharon Bamford: accreditation is key

Accreditation differs from rankings in that it is audited to ensure compliance. Our accreditation in particular, is not about imposing irrelevant foreign standards on a school, but ensuring key quality indicators are benchmarked globally and the programmes we accredit are relevant for the context and the Market, thus, ensuring impact. We regard it as a developmental and consultative process and schools feed back to us that the process was as important as receiving the accreditation itself.

Globalisation requires not only a global mindset, but global knowledge and the skills to operate in a global marketplace. India's top schools already have outstanding international partnerships with schools who hold international accreditations, but to be an equal partner it is important that India's schools also benchmark themselves against these global quality standards.

India has the opportunity to attract international students to its top business schools, but this discerning market will require assurances of standards, not just in the teaching and learning, but in aspects of pastoral care, alumni relations, industry links, to name but a few.

Indian graduates are taking global leadership roles and need to be cognizant of the recognition of their qualifications on the world stage - an international accreditation of their programme is.

Debeshi: When awarding AMBA accreditation, what are the things that are taken into account?

Sharon: A critical element for us is the three years of relevant work experience, which we see as the cornerstone of a quality MBA. In India we accredit the MBA that new graduates sign up for as the equivalent of a Masters in Management, and the Executive and Part Time MBAs as an MBA. We look for international experience, which can be given in a variety of ways that suit the school and its students and we require minimum cohort size of at least 20 and at least 50% of the faculty to have PhD's, thus ensuring the quality and relevance of the learning for the student. The programme should also have been running for a certain number of years.

We originated as an organisation 'by MBAs, for MBAs' so a prospective student signing up for an AMBA accredited MBA can be assured of a qualification that is recognised internationally and is rigorous and relevant.

Debeshi: How does accreditation from an international agency such as yours improve prospects of domestic business schools?

Sharon: Business school graduates are increasingly mobile and even a very good school might not be recognised by employers around the world. An international accreditation articulates that the school meets global quality standards and that the school belongs to an elite 'club'. An employer in Australia may not have heard of an Indian school, but they would understand that if that school had met the same quality standards as Queensland University of Technology, for example, they would be able to set the candidates qualifications in the context of a quality school from their own environment.

We are also an MBA membership organisation and the alumni from all of 190 accredited schools across the world provides an outstanding network.

Debeshi: Which are the Indian b-schools that have been awarded AMBA accreditation?

Sharon: IIM Lucknow, IIM Kozikhode, SP Jain and MDI Gurgaon are the Indian schools with AMBA accreditation.

Debeshi: Any new updates/developments that you would like to share with my readers?

Sharon: I was invited to speak at the first global accreditation conference here in Delhi, but have extended my visit to meet with our schools and also with candidate schools that are going through the accreditation process.

The Indian alumni from our accredited schools that have returned to India are also important to us and we running an MBA Refresher, delivered by international and Indian faculty in August this year. Part of our mission is to maintain the professionalism of the MBA through continuous professional development.

MBA on top: GMAC survey

The MBA programme remains top choice for prospective business school students despite the growing popularity of specialised master’s programmes.

A new report from the Graduate Management Admission Council reveals that among all prospective students surveyed, 55 percent indicated that they are only interested in attending an MBA programme (this has remained steady over the last three years), while 18 percent of prospective students are only considering a specialised master’s programme, up from 13 percent in 2009.

The mba.com Prospective Students Survey results for the first time offers insight into the reasons why prospects choose study destinations. Similar to GMAT score sending patterns, the top three preferred destinations were the United States, United Kingdom, and Canada. Reputation of a country’s educational system was the most cited reason for choosing a specific destination. Prospective students intending to study in the US cited better career preparation, whereas improved chances for an international career was cited for non-US destinations. Notably, affordability was cited among respondents selecting Canada, Singapore, and India.

“Prospective students have more information and more options with programme choice than ever before,” said Dave Wilson, president and CEO of GMAC. “But as the dark economic clouds continue to dissipate, the challenge of meeting the financial costs of a graduate management programme is very much on their minds.”

Fewer respondents cited economic reservations as a constraint to pursuing a graduate management degree compared with three years ago. Yet, when choosing a specific program to apply to, financial considerations have become more important. Potential students say they will rely more on personal savings and family support than on loans, grants and other aid.

QS Global 200 Business Schools Report 2012: IIMs feature in Asia Pacific top 10 list

The Indian Institutes of Management (IIMs) have reason to cheer. The three IIMs at Bangalore, Ahmedabad and Calcutta have been listed among the top 10 in the Asia Pacific region in the recently released QS Global 200 Business Schools Report 2012. IIM-Ahmedabad is ranked second, IIM-Bangalore's rank is fifth and IIM-Calcutta is ranked eighth.

Indian School of Business has been ranked seventh, S P Jain Institute of Management and Research is at 16 and Indian Institute of Foreign Trade at 21.

INSEAD, Singapore is number one in the region for the third consecutive year. Melbourne  Business School (University of Melbourne, Australia), NUS Business School, (National University of Singapore) and University of New South Wales were some of the other institutes that featured among the top 10 in the region.

Throughout the QS Global 200 Business Schools Report, one theme in particular stands out: Indian business schools are fast gaining popularity among MBA employers. In almost all specialisation ratings, Indian schools have climbed considerably when compared to last year. This is even the case for international management, as while Indian business schools feature lower down the rating than they do in other specializations, they are still climbing and showing promise in developing a greater international outlook among their MBA graduates.

Mumbai campus for Italian b-school

One of Italy’s top institutes, Università Bocconi, through SDA Bocconi School of Management, is setting up a campus in Mumbai. The MISB Bocconi or the Mumbai International School of Business Bocconi will offer postgraduate programmes in business for Indian students and managers. SDA Bocconi has been ranked as among the top 10 European business schools according to the Financial Times rankings.

“MISB Bocconi opens to our university a new path for our internationalisation strategy which has led us today to have over 200 partner schools in all five continents and to offer our students 16 double degree programmes, of which one with the Indian Institute of Management- Ahmedabad,” explains Guido Tabellini, rector of Università Bocconi.

“It is, in fact, the first initiative in which, together with entrepreneurial partners, we give birth to a postgraduate education programme aimed exclusively at Indian students and managers and not Italians. We have chosen India,” says Tabellini, “ to set up this new project because of both the strong request for managerial education which characterises the Indian market and the deep-rooted experience which Bocconi has in this country beginning back in 2000, when we signed our first agreement with a partner university.”

The first programme offered by MISB Bocconi will be the Post Graduate Programme in Business, which will start in July 2012, a high-level international programme in management and centered on the realities of the Indian market and business world. Lessons will be held by a mix of Indian, international and Bocconi faculty. The programme will be a combination of theory and real practice in close contact with the business world and will be articulated in 2 modules of 11 months each. 

The first module will cover disciplines such as marketing, economics, corporate strategy and finance, concluding with a summer project that foresees an internship, an entrepreneurial project or a research project. The second module will also include the option of a campus abroad in a Bocconi partner school or an exchange semester at Bocconi’s campus in Milan and a group consultancy project in close collaboration with a company.

Università Bocconi will guarantee the quality of the courses in accordance with international academic standards and also draw upon its network of collaborations with Indian corporate partners with which it already works to offer internships and work experience for its students.

The school is also looking at launching executive education programmes for Indian and multinational companies, operating on the Indian market, in fields such as finance, entrepreneurship and family business, and fashion/design management, drawing upon the experience of SDA Bocconi.

Positive trends for b-school grads in 2011

Key survey and poll results from the Graduate Management Admission Council (GMAC) during 2011 provided a positive outlook for MBA graduates in 2011 and projected hiring for 2012. The year’s noteworthy findings include:

• 54 percent of all graduate business students seeking employment in 2011 had at least one job offer pre-graduation, up from 32 percent in 2010, according to the GMAC Global Management Education Graduate Survey.

• Class of 2011 grads who did an internship are 26 percent more likely to have a job offer pre-graduation than classmates without an internship, according to the GMAC Global Management Education Graduate Survey.

• 67 percent of full-time MBA programs reported a decline in application volume in 2011 compared with 2010; 54 percent of part-time programs reported that application volume was the same or more than last year; and 58 percent of executive MBA programs said application volume was the same or more than last year, according to the GMAC Application Trends Survey.

• 83 percent of Master of Finance programs reported that applications were up, and 69 percent of Master in Management and 51 percent of Master of Accounting programs reported an increase in applications, according to the GMAC Application Trends Survey.

• Admissions offices at business schools reported that the quality of applicants for 2011-2012 incoming classes and their academic credentials are equal or better for 89 percent of full-time MBA programs compared with last year, according to the GMAC Application Trends Survey.

• Nearly four times as many companies are planning to increase the number of MBAs they hire in 2012 (22 percent) compared with the six percent of companies that actually hired more MBAs than planned in 2011, according to the GMAC Year-End Employer Poll.

Global stamp of recognition

In my recent post about Indian business schools: Best practices, I had written about top business schools identifying best practices to help benchmark with foreign schools and attract the best students and faculty. International accreditation helps business schools get a global stamp of recognition for their MBA programmes. Students get their degrees recognised globally, while the business school is successful in securing more foreign partnerships and linkages.

Four business schools in India have received the Association of MBAs (AMBA) accreditation. The UK-based AMBA is an international impartial authority on postgraduate business education. The AMBA accredits MBA provision at 187 schools in over 70 countries. IIM Lucknow’s MBA programme is the most recent to receive the Association of MBAs accreditation in November 2011.

The first to receive global accreditation from the Association was MDI Gurgaon in 2005 followed by SP Jain and IIM Kozhikode. More business school accreditations are also in the pipeline. “Granting Association of MBAs accreditation is a mark of the quality of a business school’s programmes and ultimately is a great profile-raising tool for schools, as our programmes are recognised internationally, thereby giving the business school a global status and network,” said Sharon Bamford, Chief Executive of the Association of MBAs. “The Association of MBAs accreditation is unique as it focuses on individual programmes, rather than the whole institution. This in-depth and detailed approach means that the highest standards of teaching, faculty and student interaction are guaranteed by our accreditation. We also believe that programmes should be of the highest standard and reflect changing trends and innovation in postgraduate management education,” she added.

As well as accreditation of top business schools, the Association of MBAs is committed to the growth and high standards of post-graduate management education by creating enhanced membership opportunities for Indian MBA students and alumni. The first of the Association’s membership initiatives launched in November 2011 with a networking and learning event called Global Connections. “India is the cornerstone of the Association of MBAs innovation strategy. Our focus is to work with Indian business schools to build and improve on their management education giving them international recognition, and to support MBA students and alumni with membership opportunities that assist in their professional development,” said Sharon Bamford.

Future initiatives include empowering local MBA students and graduates to build a global network representing accredited MBA programmes. This will provide professional development through learning and networking events and through the opportunity to build an international profile for those who have studied at an accredited programme. This global network would unite MBA students, business schools and employers of MBAs under the prestigious umbrella of the Association of MBAs.

The rise of the one-year MBA in India

Tarun Mehra, an analyst at a Gurgaon-based knowledge process outsourcing (KPO) firm, wanted a management qualification that would add a competitive edge to his resume and help him move up the professional ladder. As his academic credentials were impressive, Mehra could easily have taken his pick from any of the top business schools within India. Instead he enrolled for a one-year MBA at local business school, SOIL (School of Inspired Leadership).

“I did not want to spend two years studying for an MBA so I chose a one-year program. This is value for money. I am not paying for that extra year, yet the course curriculum is the same.”

In the words of Bala V Balachandran, founder and dean of Great Lakes Institute of Management (GLIM) in Chennai, “the monetary value of time, or opportunity cost, is more important than the time value of money.”

In a bid to cater to professionals who do not want to devote two years of their work life to earn an MBA, an increasing number of business schools have started offering one-year accelerated, full-time courses. The one-year program, popularized by business schools in Europe as an alternative to the predominantly two-year US-style MBA.

Says Bani Wadhwa, an HR manager in Chennai, “I wanted to take up an MBA program but did not have the time or the inclination to do a two-year. So I opted for a shorter, one-year at GLIM. The course content was the same, only shorter. What’s more, my company sponsored me, so it all worked out well in the long term.”

Professor S Sriram, executive director, Great Lakes Institute of Management explains: “People increasingly feel pressured for time these days. For working people, taking two years out proves to be expensive and difficult. If one can get the same value in one year, why not?”

Management experience matters

Schools such as GLIM, the Indian School of Business, SOIL, SP Jain Institute of Management and Research (SPJIMR) among others offer the one-year program with a focus on applicants with at least a couple of years of work experience. In fact, it was the Indian School of Business that pioneered the one-year format in India, an experiment that turned out hugely successful for the business school.

One-year programs teach students to analyze situations quickly, think on their feet and apply their skills to real business situations. Students learn to combine their industry expertise with the fundamentals of management that are acquired over the year. Career interruptions are minimized for students while companies encourage promising employees to prepare for leadership roles. One-year programs have a great advantage over the two-year model because of the tremendous savings in opportunity costs.

It is an ideal platform to recharge before returning to the corporate world. Typically, a one-year MBA can cost anything between Rs 750,000 and Rs 1,700,000 (US$15,000 and $34,000) depending on the school.

“One year programs are fast track courses with shorter duration terms. You need to have students who have exposure to how things work in real life. So typically, one year MBAs admit students with work experience,” explains Sriram.

The average experience of the current batch at GLIM is around four years. According to Sriram, these students are also very clear about the kind of industry and job they look for post MBA, which is not usually the case for students with little or no work experience, who are more open and less focused in terms of career choices.

The one-year full-time postgraduate program in management (PGPM) at GLIM helps students understand the interactions between the various functional areas of a business system and thereby appreciate the need for developing cross-functional perspectives in business. The intensive program demands students with a proven record of academic brilliance along with an ability to demonstrate vision, initiative, leadership and hard work.

“The one-year program at SPJIMR is different from the traditional two-year model on the following counts. The participants are more experienced, have a clear idea about what kind of job they want to have after their MBA in terms of role and the industry, have reached a stage in their career where they are ready to manage people besides managing issues which was their sole concern in their pre MBA career,” says Dr M L Shrikant, honorary dean at SPJIMR.

Shrikant adds that another group of applicants for one-year programs includes individuals who would have worked on pursuing an MBA program earlier and have realized the importance of a formal degree for career growth and also may have acquired financial strength to do the same.

“In fact, given the opportunity cost of having to give up a job to do the MBA, the one year students are also much more hardworking, focused and serious about utilizing every minute of their stay at the institute,” notes Professor Sriram.

Specialized MBA course content

The fact that the course is of a shorter duration does not mean that the curriculum is more difficult or not extensive enough. The course has been tailored to meet the needs of business and industry. For instance, the post-graduate program in management (PGPM) offered by SPJIMR is an 11-month, full-time course. The SPJIMR program is an intensive course that has been designed to meet specific skill requirements of industry.

The ISB’s program has been ranked 13th in the Global MBA Rankings 2011 released by the Financial Times. It also recorded the highest salary percentage increase among all the top 100 schools. During the last four year period, ISB’s class size grew by over 35% to a current size of 570 students.

Despite these statistics, there are some aspirants who are clearly not bitten by the one-year bug.

Take Mani Sharma, a digital marketing professional from New Delhi for instance. “I don’t want to take up a one-year MBA program as these are more expensive and without company sponsorship, do not make economic sense. One-year works for students who have a background in business or a company sponsorship. Also, one-year programs do not allow students time to network or intern with companies. In the long-term, these are valuable experiences and help in professional development.”

Be that as it may, with the growing popularity of the one-year format in India, it is likely there will be an increase in the number of business schools switching over from traditional two-year MBA program formats to offer this shorter route to professional development.

Source: Published in TopMBA