MBA alternatives….

We all know that many of us are not made out for MBA degree. Some of us know our limitations while others might look at it as a complete waste of time. After all, not everyone is cut out for the same. Add to that the fact that there seems to be a dearth of opportunities as far as possibilities go after Bachelors. Most try and get into another masters program which they might have no penchant for! let’s look at a few possibilities which exist but are often overlooked!!…….

Many actually look at MBA as a method to cement the future prospects in an attempt to enhance opportunities.

Master’s in Advertising or Marketing: Instead of choosing an M.B.A. with a concentration in advertising or marketing, pursue a degree that focuses entirely on these interests. Advertising and marketing programs have rigorous curricula involving, for example, psycho-graphics, demographics, and appropriate analytics and business metrics, but without the survey of general business topics you would find in an M.B.A. program.

Master of Human Resources: If you have a career in human resources, and intend to stay in HR, this is the obvious choice for you. It is far more beneficial to focus on the law, policy, best practices, and theory of your chosen field than to spend time on such arcane subjects as general corporate finance.

Master’s in Organization Development: Organization development (OD) is a relatively new field, focusing on the human side of organizational systems. In short, OD is a human-focused, systems-based approach to addressing organizational problems. If you want to learn how to build teams, resolve conflict, design information flows, deal with organizational culture, create large-scale organizational change, or develop post-merger integration strategies, then OD might be right for you.

Master of Public Administration: If you work in the public sector, for a government contractor, for a major nongovernmental organization (NGO) or nonprofit, or in any type of highly bureaucratic organizational structure, this degree may be a good choice for you. M.B.A. programs focus on the needs of major corporate organizations, and outside the corporate world, the types of information flows, information technology (IT), finance, and regulatory environments are different.

Master of Public Policy: Although popular in the same sectors as public administration, the public-policy curriculum is more theoretical and more analytical than the focus of the Master of Public Administration (M.P.A.) People with M.P.A.s do things–people with M.P.P.s think about how things should be done. The M.P.P. degree is popular in public-sector consulting, think tanks, policy-setting and regulatory environments, and with such glamour employers as the United Nations.

Master of Public Health: If you work in health care, or in a government agency concerned with health-care delivery, then the MPH can be an excellent choice. The MPH is a wide-ranging degree, with curricula that may range from epidemiology to immigrant/nonnative communications and marketing, to public finance.

Master of Health-Care Administration: This is a more specialized degree choice than the MPH, appropriate for people who plan career advancement within a hospital, insurer, health maintenance organization (HMO), hospice, gerontology center, adult daycare, extended-care facility, or similar. One variant is the Master of Hospital Administration, which is obviously for people who plan to advance within a hospital setting.

Master of Sports Administration: This degree is self-explanatory, but with a caveat: It is sometimes more popular with aspirants than with practitioners. You need sports experience, either as part of the degree program or before you even enter, in order to get the maximum career benefit. If you plan to run a college athletic program, work in professional or Olympic sports, or even run a youth sports league, this degree may fit.

Master of Educational Administration: This degree can focus on primary/secondary education, or on higher education, but usually not both, so be sure you choose a program with the concentration that interests you most. There are many variants, such as the M.Ed. with a concentration in administration, or the M.A. in student affairs.

Master of Arts Administration: If you want to work in the business side of museums, theater, public art, or music, then this degree may be perfect for you. As with sports administration, if you want this degree to help you in your career, you need to have internships or experience in arts administration at some point before you graduate.

Master’s in Urban Planning: City and regional-planning degrees are not just for planning officers. Architecture firms, construction companies, commercial and residential developers, and such specialized firms as shopping-center design consultants will employ and advance people with this degree.

Master’s in International Relations: The MIR will help anyone in business, government, nonprofit, or NGO environments with transnational or international business to conduct. Candidates should speak more than one language proficiently before entering this type of program. Career success with an MIR hinges on the student having lived overseas prior to entering the degree program. As with some of these other choices, an MIR without the right experiences may have little career impact. And just for the record, the U.S. diplomatic corps use the Foreign Service Written Exam (FSWE) as an entrance requirement, not a master’s degree.

There are many more examples of alternatives to the M.B.A., such as the M.S.I.A. (master of science in industrial administration) or the M.E.M. (master of engineering management). Any master’s degree will have career value as you gain valuable transferable skills, but some of these degrees make more sense than the M.B.A. for people with specific career plans.

Source: http://education.in.msn.com/

MBA after PhD

You guys must be thinking I have gone nuts right!! I sure as hell hope not…… ……Anyhow the reason why I decided to bring up this issue is quite simple, I am sure some of you (those who know me well at-least) will definitely understand why I am talking about a MBA here! Well, I have always been interested in management and economics. I had always thought I would be a lousy manager though! To be honest, I still feel that me trying out any of my non-existant managerial skills would probably be like an ostrich’s attempt to fly; and I am quite certain that a MBA is of no use for me! But many of my friends keep telling me that I could be a good manager, particularly so in the last few years! So, I just decided to try and find out whether it is a possibility! When this idea sprang in my mind, I felt like a stupid bum to be thinking something so very foolish. But my search has got me some really interesting results! And that has made me start thinking……. …… Anyhow, I would cut to the chase and come to the main point. It seems there are many examples of people doing their PhD’s and then going on to get a managerial degree. In fact such examples are quite abundant in USA (probably their flexible education system makes it easier). People finish their Ph.D’s from good schools (including the likes of Stanford and Harvard) and then go on to get MBA’s from MIT! In fact, MIT has a dual degree program (LFM) which gets you a master’s and a MBA from Sloan. This class typically sees 1-2 PhD holders coming in every year!!! I was amused to find a PhD degree holder thinking of getting another masters….. ….!! I even read about a guy who obtained a MBA degree from U. Michigan right after his PhD in molecular biology and now he works for Microsoft. He was interviewed by Google and many investment banks as well. As far as I know, working for an investment bank in US can easily fetch salaries in the range of 200k to 300k. Another option which I found many guys to be considering seriously was a part-time MBA along with a full-time PhD. So I guess my idea was not all that weird…. ok maybe a bit weird! But I am sure I’ll probably never get an MBA, more so because of my own lack of self confidence and fortitude when it comes to managing situations!! But who knows……..after all, future is as dark as the past is bright! 

PS: I have no idea why I wrote this post! I guess I am too tired and just need a good nights sleep…… Will be back to my old self from tomorrow!!

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.

Rankings by financial times – 2006 (B-schools)

The following data is reproduced from the Financial Times and shows selected data provided by KPMG for the Financial Times 2006 MBA survey ranking for selected business schools.

Source: http://www.mba-courses.com/

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

Weird ideas…for stagnating businesses….or stagnating minds!!!!!

I feel that what I am going to talk about today will be probably known by many. However, it was new to me and I felt like sharing it right away! I recently got hold of a copy of “Weird ideas that work” by Professor Robert Sutton. I believe that many of you, especially those with management on their minds, would definitely know him or his published works (which btw I am told, are more than 700 in number!!!)

The book forces the readers to come out of the ever binding shackles of contemporary common sense and makes him think anew! The ideas are actually pretty weird at the first glance but actually have been deliberately moulded in such fashion to shake the readers out of their rut. According to the author, the ideas are well grounded and proven through research! What’s unique is that each of the idea that he presents in the book is well supported by real life examples…..

Certain ideas are really counter-intuitive…..like the idea of rewarding success as well as failure (but yes…..to punish inaction) or to “Avoid, Distract, and Bore Customers, Critics, and Anyone Who Just Wants to Talk about Money”, which supposedly helps prevent the premature death of incubating business plans or ideas!!

The book came out of a course at Stanford for executives on harnessing creativity in business where he experimented with various ideas to jolt his audience out of their “been there-done that” mindset to get the research results across effectively!

What’s really funny is that the author himself says that he doesn’t necessarily believe in any of the ideas himself and therefore should not be mistaken for a promoter of sorts for these ideas….however he does have the ability to provide strong conceptual and statistical case in favour of these said ideas!!

Here is a list of all the 11.5 (or rather 12) ideas he proposes

· 1. Hire slow learners (of the organizational code).
· 1 ½. Hire people who make you feel uncomfortable, even those you dislike.
· 2. Hire people you (probably) don’t need.
· 3. Use job interviews to get new ideas, not to screen candidates.
· 4. Encourage people to ignore and defy superiors and peers.
· 5. Find some happy people, and get them to fight.
· 6. Reward success and failure, punish inaction.
· 7. Decide to do something that will probably fail, then convince yourself and everyone else that success is certain.
· 8. Think of some ridiculous or impractical things to do, and then plan to do them.
· 9. Avoid, distract, and bore customers, critics, and anyone who just wants to talk about money.
· 10. Don’t try to learn anything from people who seem to have solved the problem you face.
· 11. Forget the past, especially your company’s successes

The book came out in early 2002 and is a must read for any wannabe manager!!!

Other books by the author include:

1. The no asshole rule
2. Hard facts-Dangerous half truths and total non-sense
3. The knowing doing gap

Authors webpage: http://bobsutton.typepad.com/

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.