Global MBA

Before we move to understand what is Global MBA, let’s first understand what an MBA is & why it is important. The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy.

MBA Education is an important decision and one that requires considerable thought. Traditionally, the MBA was an option considered only after a few years of work experience, with one of the many tony Business Schools in India. In India, however, many freshers opt for MBA right after their graduation and write Management entrance exams in their final year of graduation itself. An MBA education is for life and the aim of every aspirant is to get into an IIM or a top MBA college which are considered the holy grail of management education. According to Wikipedia, The Master of Business Administration (MBA or M.B.A.) degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, applied statistics, business communication, business ethics, business law, finance, managerial economics, management, entrepreneurship, marketing and operations in a manner most relevant to management analysis and strategy.

A Master of Business Administration, or MBA, enhances the skills of aspiring managers and business professionals. In the early 20s, as the nation was becoming increasingly industrialized, companies needed professionals with strong management skills to lead administrative operations and corporate initiatives in the workforce. In 1908, Harvard University offered world’s first MBA degree, approached the concept of management from a scientific point of view; the degree identified a uniform set of skills to systematize the training for business administrators in any industry or field.

As business raises the bar for success, the B-school question is common for ambitious working professionals.

“Earning an MBA degree is hard work but the rewards are worth the effort”

Advantages of Global MBA

Future leaders and managers to create an international mindset.
Exposure of realities of global politics, economy, legal and culture.
Opportunity to live and work across diverse cultures
Build a Global network
With a new mindset gain fresh ideas
Gain a competitive edge
Career Development
International business cultural knowledge
Enhancement of communication skills
Advance your Career
Earn more
Gain the support of an employer
Start your own business
Develop your business insight
Lead in a developing field
Grow your web of network
Enjoy greater job security

However, with the birth of Globalisation, the branches of MBA as also evolved. Internationalization of MBA programs has become a key goal for Indian B-Schools. Internationalization of the MBA program is the process of combining intercultural, international and global dimension into research, teaching, and service of institutions. It is done in order to enhance the quality of research, education and international exposure for each student. With today’s managers required to possess skills to perform effectively across different markets, managerial education is going through a pattern shift both in terms of approach and ideology across the world.

Currently, a majority of B-Schools offer Global MBA program that has a semester or minimum 18-20 weeks abroad. For instance, MYRA School of Business Mysore offers Global MBA program in the twinning (1+1) format where Global MBA students spend their first year with MYRA at their Mysore campus and then move to Dalhousie University in Canada for their second year. According to Dr. Shalini Urs, Executive Director, Founder, and Chairperson, MYRA School of Business, “By enrolling in a Semester Abroad program, you’ll have the chance to see a side of your major that you might not have explored at home. You’ll find yourself completely immersing in the education system of your host country is a great way to really experience and understand the people, its traditions, and its culture. Education is the centerpiece of any Semester Abroad trip—and choosing the right school is a very important factor”.

As a business professional, one of the essential requirements of a job is to network with people. You never know which connection gets you more work. It is the best deal to make life-long friends and extend these partnerships beyond the classroom within the international ecosystem. Some of them may even head some top-notch organizations later in life.

What does Global MBA offer?

MBA with its international touch prepares future leaders and managers to create an international mindset so as to enable them to cherish global political, economic, legal and cultural realities to live and work across diverse cultures. For example, Management Development Institute (MDI) Gurgaon offers Post Graduate Programme in International Management (PGP-IM) in which the first phase of the program is delivered at the MDI campus in Gurugram and the second is completed in ESCP Europe at the Paris, Berlin, Madrid, London, Warsaw, and Torino campuses.

The semester abroad covers aspects like Business Game, Team Building, Leading Teams and Organizations, Entrepreneurship, Creativity & Innovation, Ethics and CSR, Marketing and Business Analytics in a cross-cultural environment.

Eligibility: Applicants must have a minimum of two years’ work experience and a previous four-year degree with a non-business educational background.

What Next?

According to the placement report (SP Jain Global) Global MBA program of 2017 batch, the average salary had increased by 14 percent as compared to last year, which was Rs. 16.52 lakh per annum and this year, the average salary of the batch are Rs. 22.52 lakh per annum.

According to the placement report, the top recruiter’s list included Indian multinationals such as Tech Mahindra and Tata Trent along with global companies (specifically in Southeast Asia, Europe, and the Middle East) such as Societe Generale, TESCO, Hewlett Packard, Cummins, Salesforce, Henkel, JDA and Xchanging. The Consulting, IT and Logistics sectors were the biggest recruiters this season. The highest salary package offered was Rs. 48 lakh per annum. “At SP Jain, we believe that our success is measured by the impact of our graduates in the business world. Our alumni are leading cross-cultural teams, growing family businesses, developing digital initiatives, incubating new ideas, working with local governments, participating in community initiatives, consulting at Fortune 500 companies and traveling across the globe. They have done extremely well in the global workplace and that is why companies believe in our model, sums up Dr. Indu Niranjan, Dean, SP Jain’s Postgraduate Programs.

With only around 4,200 seats in all IIMs combined, the competition is intense and the pressure high. Still, there are many other institutes which offer top class management education in India. One has to be careful though in choosing the right college because it is a huge investment both in terms of time (2 precious years of early career) and money (Top Business Schools fees range between Rs 10 – 20 lakhs).

Some of the pointers one has to look out for during selecting the right MBA schools in India are –

Academic Strength– Faculty profile, Research and Innovation measures as the industry values a strong foundation in academics. MBA is not just a ‘skills course’!
Alumni Network– Well-placed Alumni reflect the status of the institute, and beyond campus placements, it is the alumni who can help foster and mentor your career
Corporate Interface– It’s about simulated experiences, schools need to participate in corporate competitions and have a corporate presence on campus with lectures and seminars.
Placement History– This needs to show a clear growth trajectory (especially in placement packages). A good indicator would also be the lowest average salaries of last 100 students as well as the profiles and sectors offered.

Curriculum

Currently, a majority of B-Schools offer Global MBA program that has a semester or minimum 18-20 weeks abroad. According to the placement report, the top recruiter’s list included Indian multinationals such as Tech Mahindra and Tata Trent along with global companies (specifically in Southeast Asia, Europe, and the Middle East) such as Societe Generale, TESCO, Hewlett Packard, Cummins, Salesforce, Henkel, JDA and Xchanging. The Consulting, IT and Logistics sectors were the biggest recruiters this season. The highest salary package offered was Rs. 48 lakh per annum. “At SP Jain, we believe that our success is measured by the impact of our graduates in the business world. Our alumni are leading cross-cultural teams, growing family businesses, developing digital initiatives, incubating new ideas, working with local governments, participating in community initiatives, consulting at Fortune 500 companies and traveling across the globe. They have done extremely well in the global workplace and that is why companies believe in our model, sums up Dr. Indu Niranjan, Dean, SP Jain’s Postgraduate Programs.

Top Colleges in Mumbai with International Exposure

S P jain school of global management

MBA admissions officers look for candidates with international experience because it shows that they have international exposure and are capable of thinking from a global perspective. An MBA program made up of students with different international experiences also makes for a better and more diverse classroom experience. Read on to learn how to showcase your international experience on your MBA application, as well as how to gain more international experience. Get all information related to admissions, fees, courses, placements, reviews & more on MBA/PGDM in International Business colleges in India to help you decide which college you should be targeting for MBA/PGDM in International Business admissions in India. While an international experience is not a requirement for admission into the top MBA programs, it will definitely help your application. Know More.

Top B-schools with a Different Curriculum and Exposure

In years long past, MBA curricula were very similar across different B-schools and universities, but with the number of postgraduate business degrees rising every year, schools have had to adapt their programs to meet the evolving needs of both students and employers. In case of luxury, it is not easy to sell the product until it completely matches the level of the consumer, which is why the main idea is to let the consumer understand that there is no other brand that can match up to the expected standard. That is where Luxury brand management sets in. It revolves around very high brand awareness, how aggressively the brand is promoted or marketed. Starting from product quality, to the location where the stores are located, how the client is being treated, pricing of the product or the service, the brand ambassadors who are associated with the brand, etc, are the factors that are taken into consideration while making brand a luxury and while promoting the same. Know More.

Top Scholarships offered by B-Schools

MBA education in India is expensive; especially when it comes to top MBA colleges in India such as IIMs, MDI Gurgaon or IBS Hyderabad. Even folks who are financially well-off in India have to take the support of educational loans in order to join the MBA programs offered by top B-schools of the country. But does this mean that an MBA is only meant for aspirants who are rich or can afford to take education loans? The simple answer is NO! Despite the high fees, when it comes to MBA courses, India’s top B-schools have adopted a very inclusive admission process that gives equal chance and opportunity to MBA aspirants who face financial difficulties. India’s top MBA institutes offer several scholarship opportunities to talented MBA aspirants to support them financially through their journey through the MBA world. Know More.

Luxury Marketing: A career scope with SDA Bocconi Asia Center

In economics, a luxury good (or upmarket good) is a good for which demand increases more than proportionally as income rises, and is a contrast to a “necessity good”, where demand increases proportionally less than income. Luxury goods are often used synonymously with superior goods and Veblen goods. Luxury goods are said to have the high-income elasticity of demand: as people become wealthier, they will buy more luxury goods. This also means, however, that should there be a decline in income its demand will drop. Income elasticity of demand is not constant with respect to income and may change sign at different levels of income. That is to say, a luxury good may become a normal good or even an inferior good at different income levels, e.g. a wealthy person stops buying increasing numbers of cars for his or her automobile collection to start collecting airplanes (at such an income level, the luxury car would become an inferior good). Know More.

Conclusion

There is not one strict definition that will describe or qualify an MBA program when the term Global is used to describe an advanced degree program it typically has a diverse student body and an international angle of course materials and curriculum. An international university environment gives you a first-hand experience of meeting such a diverse crowd who come from various nationalities, communities, and languages. You can learn from them how’s, whys and what of starting a business and being successful at it. You’d know what may work and what wouldn’t in your kind of environment. B-schools globally tend to nurture their alumni so as to have an extended network of their wards. You’d have access to such a huge alumni network too who can always counsel, mentor and even help you find a good job.

Until now, given a chance, every single student wishing to pursue their MBA from the likes of Stanford’s and Harvard’s of the world will jump at the opportunity. With the growing popularity of Global MBA, students have more options to choose from, and not limit themselves to only the biggest names alone. So far, a foreign degree shines brightly on your CV giving you an edge over other competitors at the workplace. Higher the ranking of the B-school you graduated from, better chances of your dream company hiring you. Also, in a good leadership role! You stand in moral stead to take over a role in senior management, as that’s what a Global MBA degree trains you in. We’ve covered all aspects of Global MBA in other articles. Read them as well, rather than getting confused with these reasons.