วันอาทิตย์ที่ 18 เมษายน พ.ศ. 2553

MBA – Is it really hit by the recession

Different people do an MBA for different reasons. Many to get a managerial job, some for an appraisal, others for pride, few for knowledge. The question we face right now is that does it really make sense to do an MBA in such times of recession.

Many people think it is the best time. The economy is in recession, there are hardly any jobs and negligible appraisals. Therefore it is best time to spend two years in a B-school, gain more knowledge and upgrade your skills. And after two years, hopefully when the economy has recovered, they can take advantage of the scenario.

This is indeed being seen by the sudden surge in the number of applications to B-schools especially from people from the IT sector. Many people from IT or engineering background have been on the bench for some time. And they see this time as the best for doing an MBA.

In better times, an MBA from any institute would be good. There were too many jobs and lesser people. But now people must choose the institute or B school and the course very carefully. They must look into the curriculum and duration of course. Also the course fee needs to be kept in mind and people must see if it is worth it.

Also people must forecast that which sectors will recover fast and in which sectors will there be a real boom. Retail which at the moment is taking a real dip will definitely make a big comeback. We can see that in developed countries, 90% of retail is in the organised format. And if India will progress, our retail sector will also transform. Therefore a specialization in retail management will be really sought after qualification.

Similarly, Insurance and Banking are set to evolve further and grow. After the current recession, banking and insurance is set to go into a boom as more and more people will start banking.

To summarise, we can definitely say that this is the best time to do a management course specializing in Retail, Banking and Insurance.

Article written by Mr. Achal Arya Director of Acumen - Management Institute in Delhi and MBA institute Delhi.

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