In today’s date and time business studies have become a popular choice for students who are looking to pursue under-graduation and post-graduation. With the boom in the business sector, there has been quite a growth in the job market. There is no shortage of investment for students as management studies not only assures jobs in reputed firms but also an in-depth knowledge of the various functionalities. Therefore, it is of utmost importance that you choose your college or university carefully before enrolling in one.
Significance of choosing the right college
Your college plays an integral part in determining the quality of education you receive. Therefore, choose it carefully. Completing business studies from a reputed college gives you exposure to not only bookish education but all kinds of real-life hacks that one requires to make it big in the business sector. Choosing the right business institution has several benefits:
- Opportunity for better education
- Get taught by experienced faculty members
- Availability of better and updated facilities
- Better option for holistic development
- Good job placement
While we all understand the importance of choosing the right college, the question is how to select the right one. When you are looking for colleges, the first and foremost thing to do is to make a list of things that you want in your institution. Once you have determined the points, then research various colleges yourself instead of following your peers. There are several things to consider before enrolling in a B school. Following are the top 7 factors that you must consider before getting admission in any business school in India.
- Qualified faculty members: One of the most important things to consider before getting enrolled in a B school is to see whether they have experienced and talented faculty members with a real business background. For a course such as business studies, it is best to be taught by someone who has real experience. Faculty members who have themselves worked in reputed firms will be able to offer much more than academic knowledge. They will know about all the tips and tricks that one must apply while working in business world. They will also have the right connection within the industry that can be used to help students in their career opportunities. Therefore, it is best to get into a college that has very strong faculty team.
- Good ranking: One of the best methodologies of choosing the right college is by checking its ranking. An institution with ranking received from a top publication works as a great tool to compare the education quality, alumni, recruiter reputation and several other things. Studying from a college with a good ranking will also help in the long-run as well. It helps create a positive image for business firms and gives you an edge over others
- Availability of management programs: The business world is ever-expanding and is therefore not just restricted to a handful of sectors. Make sure that the college you choose offers a variety of majors and subjects in business studies. This will help you to not only learn to specialize in something niche but also makes you unique and therefore improves your chances in the job market. The business market is always in search of people with unique specialization. Having a degree in such subjects can be thoroughly beneficial for you in the future.
- Alumni and placements: While your business course educates you about running businesses and gives you ideas of real-life hacks, tricks, and tips for establishing your own, securing a job is also significant. So, when you are looking for taking admission to B-schools, make sure that provides you good on-campus placement opportunities. Though no college promises to offer 100% placement, a college with a decent percentage of placement makes a big difference and improves your chances of getting a job easily.
- Infrastructure: In addition to education, infrastructure also plays a major role in the holistic growth of a student. Therefore, when it comes to selecting a college make sure that the institution has adequate infrastructure that will contribute to your growth. A management institution should have a well-stocked library, an updated computer center, sports facilities and a classroom containing all the basic amenities. Besides this, there are several other things one must consider such as availability of hostel, playground, mess, and medical facility.
- International exposure: The business world today is not just restricted within the boundary of a certain country. It has expanded globally and therefore it demands professionals who can handle the global market. To be able to cater to this requirement, students also need to have international exposure to understand foreign policies, understand cultural differences and be able to come up with a solution that suits the global market. International exposure such as, an opportunity to study for one or two terms at other international institutions through an exchange program is significant. Through this student will get first-hand experience of professional situations and also required skills to deal with them.
- Campus ambience: The campus of your institution plays a major role in building a student’s mental strength and character. Therefore, before joining a college do a thorough research of the college’s history, reputation, and experience of previous students. A healthy campus life will enhance your academic experience, social and professional skills to make a career in the business sector.
The decision of enrolling in an institution is vital and it can impact both personal and professional life. Therefore, it is of utmost importance that the institution you choose has, if not all the factors mentioned, at least some of them. Your business education is not just restricted to the classroom. It is also about learning professional responsibilities, managing teams and projects, and several other things. Enrolling in a good college helps you with acquiring all the skills you need for handling various tasks and handling multiple teams and above all learn the right way to do business.
Most of the students who wish to make a career in the business sector pursue BBA. Bachelor of Business Administration (BBA) is an undergraduate business course offered by colleges and universities. This course introduces students to the various aspects of running an effective business and helps you get an understanding of the basic concepts related to this sector. While you get to learn the primary concepts of the business world in your graduation, you will need a lot more to make a successful career in this field. Therefore, the next right move for you would be to pursue your post-graduation degree in MBA. In MBA, students get to learn about business studies in detail, they get to choose their specialization which can help them in building their career in the long-run. In addition to this, you will also learn the strategic development of ideas and their usage in propagating your business venture. Some of the common topics that will be covered in MBA are:
Besides this, several other subjects and topics are covered in this business program. Through this business program, they determine their area of specialization and focus on refining their skills in that area. An MBA degree will open up a wide range of career opportunities for you, which might not be possible with BBA degree. Following are some of the career options that you can explore after completing MBA.
- Start your own business venture: Completing MBA will give you a very strong understanding of the functionality of business and different aspects associated with it. Therefore, once you have completed this program you can start your business venture. Doing this will let you make practical use of all the knowledge that you have acquired during your studies. Besides this, you get to be your boss, get the opportunity to lead a team and use your administrative skills.
- Take up managerial roles: After MBA, there are many managerial fields that you can fit into, such as :
-Research and Development Manager
-Human Resource Manager
You can also apply for jobs in the corporate sectors such as Banks, Education institutes, Multi-national companies, various business financial and marketing organizations and many more. There is no dearth of jobs for a student with a MBA degree. There are innumerable options for you at your disposal.
- Hotel management: MBA course imparts good knowledge of management and therefore making a career in hotel management can be a good option. From managing finances to handling different teams, a job in the hotel management requires all sorts of managerial skills and a student with an MBA degree can very well step-up to the expectation.
- Teaching: Getting a job in the education sector is a very good career move for an individual with an MBA degree. As we already know that management courses like MBA is highly in demand, as they are also in need of professionals who know to teach all the technicalities and provide other students the guidance. MBA postgraduates will be capable of conducting classes in finance, economics, and accounting.
- Chartered Accountant (CA): If finance and accounts interest you then Chartered accountancy is a career option for you after you have completed your MBA Program. After completing this course, you can get a CA degree, after which you will be easily placed in any sought-after multi-national companies.
- Foreign embassy: This might come as a surprise to students, but several foreign embassies need employees with a management background. Taking up a job in a foreign embassy is not only a highly paid profession but through this, you also get to visit different countries and learn about different cultures. This way along with a job you also get to put the knowledge and education that you have received from your MBA degree to practical use.
- Financial analyst: A major part of the business is all about finance and marketing. Therefore, this is a perfect job for a person who has MBA degree. From managerial economics to financial management, several related topics are covered in this program, hence, you can easily get this job. In this job profile, you need to use your analytical skills to provide advice to companies to earn the profit.
- Marketing and sales executive: Sales and marketing is the basic requirement for any business. MBA degree holders can easily get the job done. An executive in sales and marketing is required to come up with different ideas on different kinds of marketing strategies and sales ideas. You are then required to implement them successfully and thus eventually boost profits of the firm.
In the job sector, several companies need employees graduating with a business degree. If you are interested in becoming an expert in a certain section of the business sector then doing your post-graduate in MBA is the best thing to do. Through MBA you get the option to study a section of business studies and become an expert. Gaining your expertise in a niche section can lead to better growth professionally and scope for more learning.
Running a business requires a perfect combination of understanding of the market and skill to cater to its requirements. It is popularly believed that business studies are only restricted to those who want to make a career in this field. Most of the students who are looking to associate with multi-national companies or opening a new venture tend to opt for popular business courses such as BBA, PGPM/PGDM/MBA, and similar courses. While these courses largely help students with acquiring the art, skill, and understanding of a business, this knowledge is not completely dedicated to this particular job. The education or the knowledge that one gets from these courses are applicable in any professional field that you want to choose and even in your daily life.
Enrolling in a reputed business institution such as ICFAI Business School, IIMs and NMIMS, etc. not only opens up job opportunities in business sectors but also imparts a perspective that most of the people are not aware of or are not told about in other programs. In the three or two years of the business course that you choose to enroll in, your skill is honed through a series of theoretical education and practical skill.
So, you may ask, why should people with other field of interest acquire business education. The answer to this is that business studies is not all about running a business or creating job opportunity alone for individuals. There are several benefits of business education in real life, following are some of them:
- Makes you a team player: Irrespective of the profession that you choose, you need to be able to work with your team and cooperate with them. In management studies, one of the basic things that you are taught is to become a team player. For any business to succeed, one needs to be able to get along with everyone, including people’s skills and expertise and deliver your results successfully. The same education can be utilized in other walks of life as well. Be it personal or professional scenario, the ability to bring together people and making optimum utilization of the skill that each of them have to offer is very beneficial and a must-have quality in every individual. Through your business studies, you will be able to have a better understanding of the significance of a team and learn to coordinate with the members efficiently.
- Take financial decisions: One of the core elements that a student gets to learn in a business program is the management of the finances. While many factors contribute to the success of a business but finances are the foundation on which it stands on. Therefore, it is important to understand how to earn maximum profit, distribution of budget in various projects, human resources, and several other things. It also helps you understand the market from a financial point of view, where to invest, how much to invest and many other crucial things. This knowledge can be implemented in your everyday life and manage your money, which will eventually be beneficial in the long-run. With a formal education in management, you will very well be able to make a good financial decision from something as basic as saving to investing in the right places based on the market condition, which is something that everyone needs to learn in their lives.
- Inculcate management skills: The business world is all about the correct management of the resources and so is every other sector be it your household or any other job that you take up. Business studies help you with inculcating management skills through effective techniques. Mastering this skill helps you to make proper utilization of the available resources, use them in the right direction and management. Management skill is something that is not merely restricted to a particular profession or organization and therefore it is of extreme importance. By enrolling in a business program, you can become an expert in management which you can implement in every section of your life. The management skill can be used even in the basic situations of your life as well as while taking big decisions.
- Learn about networking: Both in business and personal affairs networking is essential. Networking is all about reaching out to like-minded people and peers who not only help you with their resources but also by mentoring and guiding you in your field and journey to your goal. Getting in contact with the right people and associating with them can help you in several ways such as getting resources, developing ideas and get aid in finances. All the skills of networking can be learned in detail in business studies which you can utilize in several other manners and throughout your career in the respective fields.
There are several other benefits of business studies, some of them being marketing, sales, human resources and many more. These factors may seem to be only part of a business organization and the world of entrepreneurs but you can use the skill in your everyday life.