MBA – EUROPEAN STYLE

Thinking of a mba degree from europe!! Read on. I have reproduced this article from from EFMD website and would urge those interested to visit the site themselves!!

source: http://www.efmd.be/

e-mail: info@efmd.be

Typically, a European MBA programme is shorter than in the US. In general MBA courses in Europe run for a year. American schools in general would have more star professors the their European counterparts. However, the experts may devote only limited time to teaching or may not teach at the MBA programmes at all. The size and culture of a school are often overlooked when considering business schools. In general, schools in the US are larger, with an average intake of full-time MBA students of 287, compared with 124 in Europe.
European schools have a significantly higher percentage of non-national students then their American counterparts, and the same picture emerges when analysing non-national faculty member. However, internationalisation does not translate directly into number of foreign students or faculty. Alliances and exchanges, for instance, contribute to an overall international culture.
From recent discussions at the efmd (europen foundation for management development) MBA Directors meeting, we learnt that European MBAs were more than relevant in the world of business. When comparing notes on the value of an MBA, organisations like Novartis and Andersen made it clear that the choice of MBA recruitment depended very much on previous experience of the graduate, quality of the school and the appropriateness of the individual for the particular environment. At the same meeting, the scientific validity of rankings was heavily debated between leading business education journalists and the European MBA directors.
Technology is one of the drivers in the changing MBA programmes environment. There is a clear trend towards increased demand in executive and part-time MBA’s, and ICT applications are a key element. The HEC School of Management in Paris, for instance, offers “MBA discussions forums” where potential candidates, alumni, professors and staff have real time discussions. The internet is also an integral part of ‘live case studies’ in most European schools. Intranet and extranet features increasingly offer services for admissions, recruitment and on-campus information, from the course syllabus to informal social activities. Furthermore, the latest technological applications make a big difference in research activities and internationalisation opportunities.
Apart from the added value of ICT applications, a key factor is still “people” learning and sharing in a business school. Innovative faculty who change the way people think and good students who participate actively in an MBA programme make it a unique experience. Or to quote Angel Cabrera, Dean of Instituto de Empressa in Madrid: “The main building blocks for training managers of the future at I.E are innovation, a responsible entrepreneurial spirit, academic excellence and a commitment to new technologies.”
The top two reasons for people to want an MBA qualification are “to open new career opportunities” and “, both in ranpersonal development”. Ultimately, potential students have little doubt about their increased success in the corporate world and in salary.
The average salary for an MBA graduate from a top business school in Europe is estimated at €85,000. Such a figure should obviously be treated with caution. It does not reflect differences in types of programmes or age experience of graduates. Overall, salaries for graduating MBA’s have increased by over 25% in the past four years according to the MBA Career Guide annual survey of over 250 recruiting companies. Consulting is the sector consistently at the top end of salaries paid to new MBA graduates. The fees for most MBA programmes range from €10,000 to €40,000.

MBA in Europe!

Traditionally, United States has been home to the MBA, although nowadays MBAs can be studied the world over (with institutions of excellence like the IIM’s just a doorstep away). European MBAs have a reputation for excellence across the globe, and an international student is therefore wise to choose Europe as their study destination.

It is the history of MBA which forces most to believe that it remains the in the bastions of graduate schools in the states. Also I concede that their relevance makes them useful world over. However, many European MBAs have risen, mainly in France. This diploma is becoming a standard of education for all managers who want to improve their knowledge and experience; and moreover, an MBA is recognised and appreciated by most companies as a valid qualification for the workplace. The efficiency of this diploma can be measured by the boost it gives to a career. The benefit increase manifold if the student has a professional project, and can then use this year of study to develop and improve the subject.

Just to give a brief introduction to the MBA programs in Europe, I will use excerpts from another article (albeit modified by me) sourced from http://www.mba-courses.com/.

European Schools

“To be able to offer an MBA Programme is very important for any institution. It is an opportunity to develop international recognition and today, almost all major business schools in France offer such diplomas in both French and English; in an attempt to compete with the more famous American universities. The INSEAD in Fontainebleau for example is the European MBA college equivalent, and a 1996 survey in the ‘Times’ placed this institution at the top of the world, beating institutions such as Wharton and Harvard. This accreditation has helped to promote the quality of all other European institutions offering similar programmes.
However, MBA programmes in France are not always taught in French, and if an institution wants to recruit the best students and teachers, it is becoming compulsory for programmes to be conducted in English. Most of these institutions require students to have a good TOEFL or GMAT score to apply.
The length of a European MBA is usually about 10-15 months, although as stated by ESC Rennes, “This does not mean that because our programme is shorter, quality is lower. We simply ask and expect more from our students.” The strength of such a system is that the investment in time and money is reduced. Nowadays, US managers do not hesitate to cross the Atlantic to complete an MBA in Europe, as they can earn money and learn new management cultures simultaneously.”

Teaching vs. Industry

“Management teaching in France is pragmatic, and the solutions proposed to solve problems are usually practical. Compared to the US system, where teaching is academic, French courses are closer to the industry because of the structure of their institutions; schools are usually sponsored by the local Chamber of Commerce, therefore many meetings with company managers or company visits are organised on a regular basis. Moreover, the alumni network is very efficient.
French MBAs also have varied strengths. Intakes are usually smaller than in US universities, and programmes mainly focus on quality and not quantity. They also focus on the international and multicultural aspects, as many institutions have developed exchange programmes with partner universities (mainly from Europe….however in the Indian context, such programs have tie ups with IIM’s). Due to their integration with companies, they propose efficient courses adapted to the market.
If we compare Europe to the MBA system prevalent in States (rigid), Europe and particularly France have developed different kinds of programmes. Full time in English (at INSEAD, HEC, ESC Paris, ESC Rennes, ESC Marseilles), part time (at ESC Paris, ESC Rennes, ESSEC), distance learning (at ESC Nantes with Bilbao University and Bradford University, ESC Rennes and ESC Poitier with Southbank University) or in the States (ESC Rennes has 20 MBA exchange agreements all around the world). Some institutions have also developed specialised programmes, such as luxury products at ESSEC, food marketing at L’Idrac, or Information Technology at the Thesus Institute.”

A Passport for a Job

“After an INSEAD MBA, 2.4 job opportunities are offered to a student on an average, with an average salary of around £35,000. Usually, European MBA students are recruited by consulting companies interested in analysis and multicultural studies. However, bank and insurance companies have started to recruit in Europe, because they are looking for people able to work anywhere in the world, in non-structured environments such as the new markets in Asia and South America. Large multinationals are always interested in investing in quality graduates who may become top managers in the future.
Doing an MBA in Europe is taking advantage of the chance to study a practical diploma relevant to the industry and the multicultural environment. Developed competencies learnt during the MBA will quickly find that they can be applied in the everyday life of a company.”

Originally compiled by ESC Rennes

GMAT verbal ability!!

Well friends!! I have had some confusion with regards to the verbal ability section that forms a part of the GMAT test (I was trying to figure out how tough is it when compared to the GRE verbal section)! I decided to just give a verbal ability mini test from peterson and was shocked to see a percentile of 80. I believe that all prospective GMAT test takers should give this test and analyze their performance. Such tests can really help you determine the amount of practice and level of stand alone preparation that might be necessary from your side to tackle such exams!!!!

Link to the short test: http://www.west.net/~stewart/gmat/gmtestv.htm

Comprehensive information regarding GMAT: http://www.mba.com/mba/TaketheGMAT

Business School..WOOPS; THIS SEEMS TOUGH!

Well friends, I always used to think that doing a business major, especially from one of the top rung B-schools in any country can be a really daunting task; especially for people getting into a business program after a gap of few years! I guess it is true…..after all going into a masters program in engineering makes us tackle only the first years academic rigors.

In your business program, you would typically be expected to finish up about 70% of the academic coursework in the first year itself. Each trimester would make you face 4 different credit courses and each course would essentially involve 2 classes of 2 hours duration each. The academic work in a b-school can be very rigorous! And this comes in addition to absorbing huge amount of information when you first enter your graduate school involving knowing the professor, peers, academic subjects, etc!

In essence, the first year at any b-school is mainly about academics. However, one could benefit immensely from participating in other activities.

“Most first year business schools focus on networking, and building relationships with fellow students. If you are handling the workload well in the first year, you can consider taking electives that appeal to you, or participation in extracurricular activities. Last but not least, first year business school students will want to aggressively pursue summer jobs and internships. Recruiting for summer positions usually occurs in January, February, and March, but may begin as early as October of the previous year”

Now I thought it would be better if I provided some kind of a cherry topping for your delight!

When it comes to salaries after your MBA, though there can be no guarantees, recent MBA graduates reportedly make 35 percent more than those without the degree according to the Princeton Review. This however pertains to the situation in the states and should not be extrapolated to other economic hotbeds!! Places like India which are definitely seeing an economic boom would fetch a great deal more for a MBA graduate!

It isn’t unusual for many MBA graduates of Harvard, Wharton, and Stanford to start out with six-figure salaries and five-figure signing bonuses. I have already provided a table listing of approximate starting salaries for b-school graduates in a previous post. Please go through the same for a better understanding! Graduates of smaller, less prestigious schools may not be as lucky, but they will still have an MBA. And the bottom line is this: climbing the corporate ladder is much easier with a degree than it is without one.

Resources – GMAT

Well friends, continuing with today’s focus on GMAT, I decided to search for a few sites that might be helpful for preparation.

Directory of GMAT TEST sites

businessmajors.about.com/cs/gmatprep/a/Free_GMAT_Tests.htm – Collection of Free GMAT Tests.
mbainfo.com/gmat.html – Do you know what is the GMAT Test? An introduction to the GMAT test, how the test is scored, free advise on GMAT Test preparation & more.
mba.com/mba/TaketheGMAT – GMAT test resources including GMAT Test Center Regulations, What to Bring to the GMAT Test Center, GMAT Test Complaints and Observed Violations….
microedu.com/gmattest/ – Offers Downloads for Free GMAT Practice Questions.

Please do comment on the usefulness of these above mentioned sites and also if you know of any other sites providing comprehensive GMAT related resources!

Source : http://www.indianchild.com/

Tackling GMAT essays!!!!!

Well friends, finally I decided on reviewing some preparation tips for GMAT test. Not withstanding the other sections which make up the test structure, I decided to first concentrate on the essays or more popularly known AWA’s which are an integral part of GMAT. The 2 essays, 1 issue and 1 argument are each to be completed in 30 minutes time-frame and involve a computer (E-rating system) and a human evaluator. I reviewed a site named 800score.com and must admit that the information provided looked really comprehensive to me. It includes 5 mock GMAT tests which can be downloaded and also has verbal and maths prep sections as well. Taking cue from the tips provided at the site on how to tackle the essay sections, I decided on penning this article; though I must confess my own experience vis-a-vis GMAT is very minimal (I am more of a GRE guy), still I guess the rules for conjuring a winning essay remain more or less the same and would continue to be so. Therefore, moving on to the issue at hand…….

1. Well structure is important for any essay. Therefore one needs to be particularly concerned with structure. Clearly divide your essay into the introductory paragraph, two to three content paragraphs and a conclusion. This is true even for GRE AWA section. Take time out before you start writing to set up an organizational structure.
2. The Issue essays are often fraught with political implications, but don’t go on a political rant or a long diatribe about your own opinions. Also, try not to delve too deeply into your own personal life. Be restrained when writing your essay and keep it professional and balanced. In fact, as well pointed out in the original article, things like that should be kept reserved for your personal blogs!!!
3. Use transitional phrases such as “first”, “therefore” and “because” to help the computer identify concepts between and within the paragraphs. E-rater makes it necessary that you do so!!!!
4. Being a conformist would help. The E-rater is not programmed to appreciate individuality, humor, or poetic inspiration; computers aren’t known for their sense of humor. It will be comparing the style and structure of your essay to that of other high-scoring essays. At this point I would advice everybody to go through sample high scoring essays and make sure that you confirm to its standards when you pen down your own essays in the actual test.
5. Clearly state your critique in the Analysis of Argument essay. The Analysis of Argument question will show you an essay loaded with logical fallacies, such as the unwarranted assumption or fallacy of equivocation. The critique therefore has to be clear, precise and logically confirming to the norms!
6. It is better that one goes through all the essay questions that have been put up by ets at their site. Knowing the questions help you prepare yourselves better as far as the actual test goes. Also people can get sample high scoring solutions from various sources including many websites.
7. As I have already stressed in one of my previous posts, It is of paramount importance that you are able to finish the essay on time and also get adequate time to check your essay for fallacies and mistakes. Practice is the key to quicker essays!!! So I guess you better get down to work. Many speed reading and typing softwares are available and might be useful for people who are left with very little time before that actual exams. Please check out my links provided for the same!!!!!!

source : http://www.800score.com/