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DISCUSSION AT URPERCENTILE : MANAGEMENT ADMISSION RUSH : HYPE or NEED?
Archana Bandhuvula: Hi all. I'm Archana, working for Cognizant
Ravi: Hi, I am Ravi working for Microsoft
Manik singh: I am thimpu..working for mahindra Renault
R.Kamath: hi this is ritesh 2.5 yr exp from Blore
Sumeet: Hi all. This is Sumeet here. Final yr btech frrm IIITH
Gunjan: hello everyone I am Gunjan Btech
Ravi: I am Ravi, 2.5 years Exp, working in Microsoft (BTech EXE from NIT Warangal)
www.UrPercentile.com: THE TOPIC OF DISCUSSION IS “MANAGEMENT ADMISSION RUSH : HYPE or NEED?”
Gunjan: MBA today is the most sought after thing .........there is cut throat competition for admission in any of the premier institutes........everyone has realised this from students to the people who have started institutes.
Harish Kothari: to start with the topic before commenting on management a hype or need we should really answer what does management teaches and what kind of value addition it does to some personality ...are we loosing anything in pursue of management degrees
Sumeet: To start with first we should analyze what are the benefits added by it to a profile. These days all kind of graduates be it doctors, engineers. or humanities are opting for management as a necessary value addition to their careerR.Kamath: I feel that the main reason why people are creating such a rush over Management institutes is because the institutes are providing good employment opportunities after graduation. With a booming economy & with opening the markets for FDI inflows people are seeing a big opportunity & want to make the most out of it. Further more the institutes like the IIMs & the IITs are good brands which have proven themselves over a period of time.
Harish Kothari: I think what India stands right now we need a right mix of our service industry workforce
R.Kamath: There is a big disparity between the supply & the demand for Management seats from reputed colleges in India. The ratio of graduate to post graduate seats is not even 10:1. This creates a huge demand which the institutes cannot fulfill.
Ravi: Looking at the world today, where the employment rate is fast increasing, there is a need for things to get streamlined which can be achieved either through experience or management. While experience takes time, management had taken snapshots of the important ones and passes them to the students. So going this way management education is definitely a need
R.Kamath: I would say that this is a FAD which is catching on & sooner or later this will eventually fade as the economy stabilizes & the demand for MBAs goes down. This has happened in the past as well
Harish Kothari: Exactly every tide settles down ..but the question here is should we really rush is there any need ?
Archana Bandhuvula: With increasing presence of MNCs thru out the world,,there is definitely increasing need for management, especially because, technical or any other talent, can be completely harnessed and made to bring "above expected" results, only under proper management
manik singh: more than a need for an individual profile, we need to take a larger perspective into consideration. here the importance of good leaders in any kind of start up is absolutely essential for it to survive intense competition
R.Kamath: Having said that, it is known that an MBA will add a lot into a person in terms of decision making capabilities & analysing issues. It helps for all round development which cannot be ignored.
Harish Kothari: the whole point of discussion here is to prove the worth of MBA's incurrent scenarios
Ravi: As the saying goes, "Make Hay when the Sun Shines" and at this point of time and atleast a decade down the lane, the sun is going to shine brightly on the management prospects so definitely there would be a rush for it
Gunjan: Admissions in a good reputed college is a need for students.......every1 wants the best from teaching to the salaries they get......the better the institute more the rush for it
Archana Bandhuvula: Whenever any industry player, even if it's successful in it's home country, where it originated, begins new ventures in new geographic locations, it needs management personnel, so as to design and implement management strategies, which work the best, in the specific countries
Sumeet: but look at the flip side. It decreases the value added to you while graduation. Suppose a doctor goes for MBA then in most cases the basic reason for doing MBBS is wasted.
Harish Kothari: but do we think here that classroom courses change the thinking ability ...bring foresightedness.....or why didnt we had the same rush earlier or is there a similar rush in more growing economies like china
Archana Bandhuvula: Well sumeet,,,not in every case, does the graduation knowledge go waste, many a time, it becomes a value addition.
Ravi: In my view, Management education is to imbibe virtual experience into us. The world's best and the worst would have been documented and discussed at length so that we know which medicine to choose at the time of famine
manik singh: An emerging economy like India, requires good managers who can drive the nation from the fringes of being a developing country into a fast progressing one
Sumeet: exactly Archna but in most cases its not the value addition thats happening
R.Kamath: Are the MBAs of today competent enough to handle situations of today ? this remains an enigmatic question which only time can tell . Another school of thought raises the argument that work experience will enable a person better than an MBA in the long run since the on job experience adds a lot & the MBAs lack perspective by not being fully trained to suit the industry
Archana Bandhuvula: For example, if we consider a software engineer going for a management degree and coming back to serve his own industry, definitely he can manage things well, owing to better knowledge of how things run in the industry
Ravi: Experience means time, which is running which is resulting in a huge gap unfilled between industry need and the supply of Managers
Sumeet: take the case of most engineers . they are taking up management and now we dont have R&D enggs. in the country ... all bright minds are running for MBA
Harish Kothari: now i think we are discussiong the loosses of management rush ......first we loose quality engineers who pursue MBA rather than MS or Mtech .
Archana Bandhuvula: Not every engr goes for MBA...There are people who do master's in IITs and IISc...It's again the limited no. of seats in these institues which hinders many from getting admission into R&D oriented courses
Archana Bandhuvula: its not the rush for MBA
Harish Kothari: Secondly were we really gaining from engineers who took research because they often headed towards America etc for their masters and seldom returned
manik singh: Whatever an individual may graduate in, management education gives a certain bent of mind which encourages one to think in a manner which takes into consideration the constraints and comes up with an optimum solution
R.Kamath: So as we see, an MBA is not a prerogative for success not success in itself. It can be seen as an enabler to succeed in future assignments based on the acquired skills.So in the current scenario i feel that it is a FAD which is fast catching amongst the young generation .
Gunjan: its true we all know management is very much useful......its a need now but what about hype??? Hype yes its there .......after all its the age of marketing ....everyone wants to show that they are the best ........also they want the best of students in their institute......sometimes the hype is created just attract attention
manik singh: I feel categorising MBA outrightly as a FAD wouldn’t be entirely correct.
Sumeet: Pick up at the admission stats of any IIM for past few years the majority is from IITs. Thats where the cream is heading.
Archana Bandhuvula: Yes.......to an extent,,,,FAD is a point to consider.....especially because.....the lucrative side of this career draws many people
Harish Kothari: I would like to stress on the current economy structure if India ..
Ravi: In my view, there are two types of people, one group who do things which satisfies their mind and the other comprises of people who do things to fill their pockets. The first group have their focus on what they are interested on the technical lines while the second group does whatever it needs to be to get their pockets fat. If at any point of time if the second group grows over the size of the Mind satisfiers group, we are going to hit the hype region.
R.Kamath: Another school of thought sees an MBA as a way to seperate from the crowd. In the next 10 years , imagine the number of graduates passing out of college. An MBA certainly can be a differentiating factor
manik singh: however it is a FACT that hearsay about the lucrative job offers grabbed by young managers, largely influences a substantial AL NUMBER OF STUDENTS TO OPT FOR AN mba...which makes it a FAD
Archana Bandhuvula: It's not just about differentiating yourself in the industry....It also lends you good opportunities for entrepreneurship
Harish Kothari: how many people have been influenced after the news of ISB guy getting a huge job offer
manik singh: Exactly harish, that is the point I am stressing
Archana Bandhuvula: Lets again consider the case of a software engineer, with just technical knowledge. An MBA degree is an essential for him, to be able to establish a firm and succeed individually
Harish Kothari: so this is sometime misleading also because the similar news is being published in regard IIT R .....
Sumeet: To some extent the glamour added to MBA job by media plays a vital role in driving people towards the management. 24*7 programs were shown weeks before CAT
Harish Kothari: why are you stressing on start ups ...this is very particular case
manik singh: people see and people hear...when young graduate hears about an IIM grad grabbing a mammoth salary job, he/she is automatically forced to consider MBA as a very good career option,
Archana Bandhuvula: Ya...The role of media in making this a FAD needs to be mentioned here, especially during the B-School placement season....there's 24*7 telecast of packages got by IIMites..
Harish Kothari: but don’t you think that he sacrifices his interest and then certainly he dies down in industry and feels the heat of pressure ..
Sumeet: The need is to see if there is need of so many MBA grads at all ??
Gunjan: yes just the hype also adds to the rush ....what they dont know is that its only one or two of those students getting handsome package
R.Kamath: Is the government also responsible for this rush as it has not provided IIM like colleges to cater to all the respondents, there is a shortage in terms of seats as all would agree.
Harish Kothari: yes in one way but government also not able to balance out this imbalance
Ravi: This is definitely correct, at the same time, how many would have really looked into the profile of the person who has grabbed a magnanimous offer. Only one who is focused to understand the market trend would and rest will just get cause hype, eventually getting cut down by the interviewing panels as their sole aim is to be that person without bothering his credentials
Archana Bandhuvula: In this regard, I appreciate the decision made by IIM-B not to disclose the pay packages of students from this year
Gunjan: yes thats a good thing by iimb .....
Harish Kothari: yes ....correct ravi ...but i think more money pumped ion research science and software firms have balanced out in a way
Ravi: Hype is created by those guys who run the race for money/placements and the panels are clever enough to cut them off in the first place
R.Kamath: Branding in India is a huge effort. but once u have a brand like an IIM there is no looking back. This has brought a horde of new colleges in the foray seeking to get good students & improve its brand value
Harish Kothari: I think they play on peoples mind its us the literate section who needs to take care of the ship in this stormy season
Archana Bandhuvula: Ya Ravi, though the fad continues, the limited no. of seats and the stringent selection process make it sure that only the cream comes out
Sumeet: But archana look at the no. of seats throughout the country isnt it too big for the population ?
www.UrPercentile.com: THANKS , SUGGEST EVERYONE TO GIVE ONE CONCULDING STATEMENT ON THE TOPIC
manik singh: i think all of us agree to the fact that in a competitive business oriented environment, MBA is surely a very crucial need, as our economy needs more managers. However on the other hand, there are huge number of students too, who may not quite be self aware with regard to their potential or interests in life, but still would want to pursue an MBA for primarily remunerative reasons.
Ravi: That’s the reason why there is a standard question in the IIMs interview to know why would one want to pursue MBA. If there is nothing other money that holds the decision then they are not worth the education.
Harish Kothari: I think people have taken MBA as a need despite not understanding the consequences of everyone rushing for MBA , therefore this is definitely a hype in my regard
R.Kamath: I would summarize as follows.
Archana Bandhuvula: I conclude by saying that, with the MNCs foraying into newer geographic locations and newer realms of business, there's need for more management grads,,,but,,,we need to safeguard against the fad,,,which comes looking at the fat salaries got by MBAs. The stringent selection process does take care of this side of it
Ravi: Though there might be hype but the selection panel would cut it out in the first phase of admissions.
Gunjan: concluding .......MBA has become a need today ......everyone running a rats race for getting admission in one of the institute ........but many just due to the hype created by their frends and media......hence the rushSumeet: I feel MBA has definitely become a FAD for most due to undue weightage given to it and need of MBAs is there but ones with right skills for it and not everyone.
Comments by UrPercentile Subscribers :
Sandeep Jadhav : An MBA will definitely promote us to a higher level of understanding. It is not the only way to reach the top, but one of the surest ways to grow, as a Manager, Entrepreneur or just as a Person. The value of MBA cannot be undermined. It has some amount of Hype associated with it, but the hype will die down and the need will live on. MBA is more Need than Hype...
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