These days most of us have heard about MBA. Do we really know about what MBA is or else we have just heard about it and like other people we are just following the trade thinking that like other we are also going to get better future with the help of this trade. So, today let us know about What is MBA?, its history and various ways to get MBA trade and future jobs opportunities with MBA.
What is MBA?
MBA stands for the Master of Business Administration. It is a kind of terminal and a professional degree. Basically MBA degree originated in the United States nearly about 20th century when the country faces the phase of industrialization and the companies of the country required scientific approaches to management. Promoting bodies of MBA programs ensure consistency and quality of education. MBA schools in various countries offer programs that are full-time, part-time depending on the requirement and availability of the time of student.
History of MBA
The first school of Master of Business Administration in the United States was The Wharton School of the University of Pennsylvania which was established in theyear 1881 with the help of Joseph Wharton. In the year 1900 The Tuck School of MBA was founded at Dartmouth College granting itself the first advanced degree in Commerce, the forerunner to MBA.
IISWBM- The Indian Institute of Social Welfare & Business Management is the first institute of India which was offering an MBA degree at Kolkata.
Courses included under MBA
Various courses are covered under an MBA program, some of them are listed below:
- Business Communication
- Applied Statics
- Business Ethics
- Business Law
- Managerial Economics
- Management analysis & strategy
- Human Resources
MBA can be done by both ways as a part-time student or else full-time student. But part-time MBA programs are commonly seems less competitive as compare to the full-time MBA programs. Also part-time MBA program can take more than two to three years to complete than the full-time programs.
Full-time MBA programs probably can be completed within two academic years. The programs onvolve a load of higher course with more vigorous classes and examination schedules and are usually done within two year. For the part-time MBA programs normally classes are on weekday evenings or on weekends which can take upto three years for the completion of the program. Both the full-time as well as part-time program requires 60 credits which means 600 class hours of graduate work.
In MBA many programs includes admission decision on a combination of marks scored in under- graduate level and entrance exam score. Some colleges also includes some different criteria like academic transcripts, a resume containing significant work experience, essays, letters of recommendation and also focuses on personal interviews. There are various entrance exams for MBA. Here are some entrance exam with their details.
- CAT Entrance Exam
CAT stands for Common Admission Test
Conducted by: IIMS
Eligibility: 50% mark scored in Graduation level for General category and 45% marks scored for reserved category. Result awaiting students can also apply.
Exam Pattern: CAT is an online exam including 3 sections with time limit of 3 hours means 60 minutes for one section
- Quantitative Ability
- Verbal Ability & Reading Comprehension
- Data Interpretation & Logical Reasoning
Official website: www.iimcat.ac.in
- XAT Entrance Exam
XAT stands for Xavier Aptitude Test
Conducted By: Xavier School of Management
Eligibility: Candidates having any Bachelor’s degree can apply for this exam. Resultawaiting student can also apply.
Exam Pattern: XAT is an online exam having time duration of 3 hours and 30 minutes and is divided into two parts. First part will have time duration of 2 hours and 20 minutes and second part will have time duration of 1 hour and 10 minutes.
Part I –
- Quantitative Ability
- English Language & Logical Reasoning
- Decision Making
- General Knowledge
- Essay writing
Official website: www.xatonline.net.in
- GMAT Entrance Exam
GMAT stands for Graduate Management Aptitude Test
Conducted by: GMAC
Eligibility: Any graduate degree from a recognized University or College. Also there is no age limit in this exam.
Exam Pattern: There will be 4 section in which 2 sections having time duration of 30 minutes and for other 2 sections time limit will be of 75 minutes. Total time duration will be of 3 hours and 30 minutes.
- Analytical Writing Assessment
- Integrated Reasoning
- Quantitative Aptitude
- Verbal Reasoning
Official website: www.gmac.com
- CMAT Entrance Exam
CMAT stands for Common Management Admission
Conducted by: AICTE
Eligibility: Candidates having any Bachelor’s degree with minimum 50% marks obtained. Result awaiting students can also apply. For reserved candidates, minimum 45% marks are required.
Exam Pattern: Exam time duration will be 3 hours containing 100 MCQs divided nto 4 sections means each section will contain 25 questions. For every right answer 4 marks will be given and for every wrong answer 1 mark will be taken away. There will be no negative marking for unanswered questions.
- Logical Reasoning
- Language Comprehension
- Quantitative Techniques
- Data Interpretation
- General Awareness
Official website: www.aictecmat.in
- MAT Entrance Test
MAT stands for Management Aptitude Test
Conducted by: All India Management Association
Exam Pattern: This exam can be both online as well as offline having time duration of 2 hours and 30 minutes. It includes 5 sections with 200 questions means each section will contain 40 questions. Each section will be having time limit of 30 minutes. 0.25 marks will be deducted for every wrong answer.
- Language Comprehension
- Mathematical Skills
- Data Analysis
- Intelligence & Critical Reasoning
- Indian & Global Environment
Official website: www.aima-ind.org
- ATMA Entrance Exam
ATMA stands for AIMS TEST FOR MANAGEMENT ADMISSIONS
Conducted by: AIMS
Eligibility : ANy Candidate having Bachelor’s degree from recognized Universit or College.
Exam Pattern: This exam will be having time duration of 3 hours which includes 6 sections. Negatice marking will be there of 0.25 marks for every wrong answer.
- Analytical Reasoning Skills
- Quantitative Skills
- Verbal Skills
Official website: www.atma-aims.org
Likewise there are many more other entrance exams preferred by the students all over the country.
Master of Business Administration is considered as the highly valued degree which is designed to enhance the skills of an individual required for their careers. Any individual who is a MBA specialization is best in his own way only if it choose to make a career in that particular domain. Any MBA prepare himself for many different types of careers. Many individuals who are MBA graduates have used their degree to change their careers. Here is the list of the common jobs related to MBA:
- Business analyst or strategist
- Business development analyst, associate or manager
- Marketing associate, analyst or manager
- Project analyst or strategist
- Operation analyst, associate or manager
- Management consultant,, etc.