Scope of Management Education in India

Structure of management education in India is divided into major divisions as:
  •     Institutions of national importance
  •     University departments
  •     Colleges affiliated to the universities
  •     Non University Autonomous Institutions
  •     Distance/Correspondence based Institutions
  •     Unaffiliated Institutions
At the top are the reputed Institutes of national importance institutes like IIMs and some university departments such as FMS which have maintained the high quality in their teaching and research of management education. The second rung institutes are those started by industrial houses, private institutes and state level educational institutes like MICA, Symbiosis and so on, which offer quality management education at par with these reputed institutes. These come under the category of “Non University Autonomous Institutions”. The third level management Institutes in India are the University departments and other Open Universities which are providing management education through correspondence, distance and part-time.
In India all educational institutes, those who are providing management education are certified by the All India Council of Technical Education (AICTE). In India management study and training come with a variety of names –Master of Business Administration (MBA), Master of Management Studies (MMS), Master in Finance Control (MFC), PG Diploma in Business Management, Post-Graduate Program in Public Management & Policy (PGP-PMP), Master of Public Administration (MPA), PG. Diploma in Management (PGDIM), PG. Diploma in Human Resource Management (PGDHRM), PG. Diploma in Financial Management (PGDFM), PG. Diploma in Operations Management (PGDOM), PG. Diploma in Marketing Management (PGDMM) and so on.
During the course, there are prospects of internship from campus providing a glimpse into the operation of an organisation. There is ample scope for role-play and other simulations to develop skills in relevant areas. This type of program forms the basis for mutually supportive networks throughout your career. You may have the facility of a placement cell which co-ordinates opportunities to interview for potential employers.
The fee structure of the management programs in India varies from programs to programs. Full time courses from the most reputed institutions are usually expensive, ranging from Rs. 50,000 to Rs. 4 lakh, per annum, approximately. Usually, the 2 year management programs can be taken up after successful completion of graduate studies in any discipline. Graduates with a minimum of 45 percent to 50 percent marks are eligible to apply for admission to management programs. Aspirants have to go through a selection process which includes entrance/admission tests, followed by group discussion and the interview of candidates declared successful in the written test. The aim of the test is to evaluate, under stress, a candidate’s general verbal, mathematical and analytical abilities. The management entrance test in India call for a superior command over the English language, quantitave skills and a sharp mind.
In India a chain of institutions numbering more than 200 universities offering management courses both at the First Degree and Advanced levels has been started. The courses offered at the various institutions to date cover training at the Master’s Degree level for the M.B.A. degree. Master of Business Administration is normally considered to be the basic and ideal post-graduate qualification for taking up a good and rewarding career in management. As per one estimate, every year about 10,000 MBAs are churned out by Indian Institutes of Management (IIMs) and a host of other universities and recognised institutes/deemed universities. A candidate with a good MBA degree finds no problem in getting a good job and freshers are usually inducted as Management Trainees for one to two years, before getting absorbed in regular scales. After a few years of experience, MBAs may choose the job of their own liking at very attractive terms.
Several institutes/universities also offer post-graduate diplomas of one to two-year duration on Business Management, Marketing Management, HRD, Personnel Management and Labour Welfare, Basic Finance, Financial Management, Materials Management, Operations Management, etc. But as a matter of rule, MBA degree is considered to be ideal by the job-seekers as well as the employers. Diplomas also assist in finding good openings, provided these are supplemented with some relevant experience.