Business schools are the institutions of higher learning that transform aspirants into competent managers, visionary executives, and business leaders. Several salient characteristics distinguish a good B school from an average school, but there are indeed some aspects that should be seriously considered when choosing a business school.
Broadly speaking, there are 5 C’s that every management and business student should seriously consider:
Having a job is not the same as having a career. A career is built on a long-term commitment to achieving professional goals. Instead of a salary package, a company brand, a comfortable job profile and the herd mentality of following friends and a group of peers, a career path – defined by function, industry, sector, company and job profile – should be mapped with their background, interests, skills, competence and temperament. From this perspective, the choices for B-School graduates are immense. They range from traditional sectors like retail, FMCG, banking, consulting, IT to new era Industry 4.0 functions and sectors like fintech, sports, healthcare, hospitality, luxury brands, agriculture, e-commerce, environmental management, disasters. and crisis management, etc. to more technical functions such as analytics, international and domestic logistics/supply chain, international trade. On top of that, the gig economy presents a whole new set of freelance opportunities.
The right approach when choosing a B school is to be clear about the career path one wants to follow. With this in mind, study School B’s programs, its placement policy, and the recruiters it attracts during the annual placement season.
The curriculum followed by School B is of vital importance. It should be less theoretical and conceptual, more skills-based and closer to industry needs. It should have a wide scope for co-curricular, co-curricular activities, live projects, and problem-based assignments. It must combine functional knowledge, industry practices, and employability certifications to optimize the student learning experience and maximize employability. One should also check the pedagogy practiced in a B school. Special teaching practices such as experiential learning, on-the-job learning, problem-based projects, and other interventions such as mentoring , behavioral training, holistic development including spiritual and mental health, career guidance facilities, etc. should be viewed favorably by the learners.
The culture of an institute is reflected in the diversity of students and faculty. Classrooms are like crucibles where people of diverse origins, ethnicities, religions, regions, political orientations and abilities meet, mingle and reflect. At an educational institution that prides itself on quality education, academic rigor, intellectual pursuit, and the spirit of inquiry define the ethos. A softer side of the culture manifests in values such as empathy, collaboration, teamwork, mutual respect, honesty, ethics and probity. Activity clubs focused on arts, crafts, music, sports, yoga and spirituality engender holistic growth of mind, body and soul.
Each business school represents a community of students, faculty, alumni, and staff. Beyond the premises of the institution, the business school must be part of a larger community. He must have a strong connection with industry to facilitate the university-business interface. Researchers, scholars, experts from different fields and influential members of civil society should be part of the visiting faculty.
From a cost perspective, there are several things students need to consider besides tuition. These include the cost of certification, international immersion fees, housing and residential campus mess fees. Students should choose the B-School and program that matches their ability to pay. Fortunately, India has a whole range of B schools in different price brackets ranging from Rs 3 lakh to 4 lakh (for university affiliated MBA program) to moderate fees of Rs 7-8 lakh at the upper range from Rs 13-15 lakh to 20-25 lakh.
In addition to the 5Cs above, students should also consider the NIRF ranking and accreditation status of institutions to make an informed decision on choosing the right business school.
The opinions expressed above are those of the author.
END OF ARTICLE