Benefits of MBA

Benifits of MBA
 
MBA is a versatile master’s degree program in business, management and finance. It signifies professionalism, breath of experience and success. And to achieve this success you have to firstly, opt for an appropriate MBA program and, secondly choose a respected and reputable institution. Some of the best B schools in India are located in Ahmedabad, Kolkata, Mumbai, Bangalore, Indore, Kozhikode and Lucknow. MBA in Ahmedabad, MBA in Kolkata and MBA in Mumbai is given top priority for their bright prospect.

But lets have a close look at the various benefits of MBA program: 

Advancing your career: MBA degree is an outstanding way to advance your career. It helps to increase your job security, provides a greater chance for promotion, increases your salary and also offers good networking opportunities.

Developing your business skill: Undergoing an MBA degree will help to boost up your business knowledge thereby adding to your expertise. It teaches you all the business strategies, concepts, and related aspects both theoretical and practical. Most MBA schools even prefer applicants from non-business backgrounds.

Leadership abilities: MBA program engages in assignments, rigorous training, group projects, presentations, and reports, all of which helps you to handle business affairs.

Networking: The associations that you make with your colleagues and the connections which you generate are regarded as the most valuable thing that MBA programs offer.

Developing analytical skills: Developing analytical skills is the forte of all MBA courses. An MBA degree helps in developing analytical skills to analyze, identify and solve problems faced by the management and business.

Developing people’s skills: Developing people’s skill is another benefit of undergoing an MBA degree. People-management skill, interpersonal and soft management skills are skills that are difficult to learn. So selecting an MBA program which offers a detailed curriculum in developing people’s skill is advisable.

Career prospects: MBA courses in India offers ample career opportunities in varied fields especially for executive level and managerial jobs. It opens a new world for its employees

Marketing: An MBA program provides its students with practical marketing skills and theoretical knowledge which enables them to find jobs in marketing field.

Finance: MBA finance courses offered by MBA colleges’ enables you to get top jobs in the finance field.

Government jobs: It is a misconception that MBA courses enable you to get jobs only in marketing fields. It also provides career prospects for government jobs.

Personal business: Undergoing an MBA degree becomes a great benefit for those having their personal business. It offers you all those relevant skills that are required for starting your own enterprise, thereby making you an entrepreneur.

Non-profit Organizations: For an MBA student working in a non-profit organization can be extremely rewarding both emotionally as well as financially.

Engage with words

Reading perceptively and carefully can help you assimilate the information better.

As students, there always seems to be too much to read. The syllabus is longer than it should be, and teachers seem to expect students to get through more pages in a week than there are minutes in a day.

Much of the material is infinitely boring and seemingly irrelevant. So we develop strategies to get through it with a finely honed sense of what is needed for the examination.

If we’re lucky enough to be using a well-thumbed second-hand copy of a textbook, we can read through what has been highlighted by previous users. (Of course, this means we also must trust that those who read before us had the good sense to highlight correctly!)

Some of us read only as much as we need to supplement the notes made in class. And yet others mark out portions that seem to answer questions from previous examination papers, and read just those bits.

Little wonder then, that we forget almost everything we read as soon as this primary purpose (to answer examination questions) is served.

Beyond exams

As we progress from school to college to higher degrees, reading serves purposes beyond the limited one of answering questions set by examiners. Reading is in many ways the essence of education — along with the ability to learn from seeing and doing.

Words on a page (or a screen) have the remarkable power to transport us across contexts and conditions and take us into spheres of experience that we cannot access in a material or physical sense.

It is because of this that students of chemistry have found excitement in the stories of Archimedes and Kekulé, and history buffs have relived the wars of the past.

But the problem is that not all material holds this excitement for all of us. Still, we need to be able to read both carefully and efficiently, if we are to really learn.

If we are interested in a subject, we will naturally spend more time on it and be more willing to spend time with our books.

However, we need to read materials that we may not be that interested in, and we need to do it in a way that allows us to not only answer exam questions but also retain information so that it can be used and applied in different ways.

Often we don’t realise the value of a particular piece of knowledge until much later, when it makes sense against something else we have learned. But this kind of realisation can happen only if we have read carefully — to understand rather than just to remember for a short while.

Reading is a complex activity, and I don’t mean to go into the details here. We all engage with written materials differently and in varying ways. When we read a novel as a leisure activity, we become involved in the lives of the characters and experience their highs and lows. When we read factual information, we actively try to commit it to memory.

When we read theory or argument we try to understand how things relate and fit together. Some things we skim over and others, we dive into.

In academic reading, too, there are some things we need to read quickly and “on the surface” and other pieces we need to spend time over and assimilate at a deeper level.

Spend enough time

The crucial decision that faces us when we look at that big pile of course-related reading, is — what do we dive into and what do we skim over?

Where is it sufficient to gain a general idea and where do we need to apply our minds so that the information becomes part of the way we understand and interpret the world?

Spending time reading deeply rather than superficially yields better results in the long term.

The content “takes residence” in your mind and gives you the ability to understand and connect bits of information from diverse sources. For example, if you have read your history carefully you are probably better at making an argument about current politics. Or if you have read your classics well, you would be better at using language effectively.

By and large, theoretical knowledge — about how things work and how they are related — requires deeper engagement, while information or facts can be acquired by reading at a more superficial level. The former requires us to spend time and think while reading, while the latter requires only memorisation.

In other words, you can’t memorise a theory, you have to understand it. But you can memorise something like the order of elements in the periodic table. On the other hand, if you’ve spent some time understanding something, you will also be more likely to remember it.

Gear up for the grand finale

Pre-board exams are not to be taken lightly. Here are some tips that can help you use this chance to perfect your strategy for the board exam.

What is a reasonably accurate indicator of whether you are going to do well in the board exams? Yes, you guessed it right — your performance in the pre-boards.

Pre-boards are the dress rehearsals for the grand finale in March for Class XII students across India. Pre-boards assess you on the basis of how well you have understood the topics, whether you can complete the paper within the given time and deal with the related anxiety associated with an important exam, whether you can apply all that you have learnt to the case studies given in the paper.

Pre-boards for Class XII begin in January. It is believed that if you do well in the pre-boards, (which are usually tougher than the actual exam) you will be able to do well in the board exams!

If you don’t do well for some reason, don’t lose heart! This is only the dress rehearsal remember? You can use the results of this exam to find out about your weak areas, identify the chinks in your preparation and talk to teachers and experts to help you gain confidence in those topics.

General tips

In addition, here are some simple tips to help you achieve success in the pre-board examinations:

Read the NCERT textbook thoroughly.

Make sure you have read and practised all the examples and are familiar with all possible ‘angles’ and ‘twists’ to a concept.

Two heads are better than one! Discuss questions with your study group. This way all of you can solve each other’s problems and help each other understand the tough concepts better.

When in doubt — try to solve the question yourself before finally asking the expert for help.

Practise till you succeed — If you don’t have enough questions in the NCERT textbooks to practise a new problem, you can always go to other study resources available to you where you can get plenty of practice to perfect the topic.

Rev up the routine — Study according to a time table and divide your time equally between reading, testing your knowledge, taking breaks and sleeping well. Do not neglect this routine.

Time = Marks — Try to solve the previous years’ question papers and mock papers within the duration of the time allotted for the exam.

Divide and Score — Distinguish between easy-scoring questions and tough time-consuming questions. Grab the easier ones first but remember to give enough time to the tough ones too. Also, remember to get your question numbers right. Keep in mind that you have to do all the questions. The tough looking ones usually have a little twist that needs to be untangled with logic. Sometimes, reading the question carefully is enough for you to get your ‘A-ha’ moment.

Understand math

Stop trying to memorise the formulae! You need to understand them and learn how to apply them in a given situation.

The best way to practise maths is to solve the questions in a time-bound manner.

Class XII students should focus on being thorough in chapters like calculus as it has the highest weightage. Other important topics are probability, vectors, three-dimensional geometry and algebra. Focus on these to get all the easily scoreable marks in the exam. These are formula-based and can be usually solved within a short time frame. This exercise will help you score the basic 60 per cent in the paper and will let you have more time to solve the bigger and trickier, more time-consuming questions without feeling the time crunch. Now for some tips that can help you excel in commerce subjects.

Meticulous approach

Long, practical questions can be expected from any of these topics in accounts — admission, retirement/death, dissolution, share capital, issue and redemption of debentures, cash flow statement. Make sure that these chapters are on your finger tips, and that you are acquainted with the different patterns and types of numerical problems asked from these topics. Particularly from the partnership chapters, be thorough with the accounting treatment of goodwill, different reserves and funds (such as workmen compensation fund, investment fluctuation fund, employees provident fund, etc.), past adjustments and guarantee of profits. Once you have mastered these chapters, be assured that you have easily earned 20 to 25 marks.

Chapters relating to company accounts, shares and debentures carry 25 marks and are pretty easy if studied thoroughly. Be well versed with the journal entries, particularly that of the share allotment, forfeiture and reissue. Carefully work out the ascertainment of the number of shares allotted or applied for the defaulters and show the working notes properly.

The chapters of ratio analysis and comparative and common size financial statements carry 12 marks and are straightforward but do require a good command over the formulae.

Lastly, for the chapter on cash flow statement, memorise the format — particularly for the adjustments, prepare the adjustments related to fixed assets account well, as also provision for depreciation account, provision for taxation and proposed dividend. Students generally do not pay due attention to the theory portion. However, the theory part can help you score.

Illustrate answers for economics

Neat and labelled diagrams are a must for certain questions ( like equilibrium questions, relationship between AC, MC and TC, relationship between TR, AR and MR and similarly other relationships), practise as many diagrams as you can. Diagrams convey what is there in the written text, instantly.

Be thorough with formulae particularly for the estimation of national income (via gross value added method, Expenditure and income method), to ascertain elasticity of demand and supply, tabulated questions based on the relationship of TR, AR and MR, ascertaining various costs — AC, MC, TFC, TVC, etc.

A question on deflationary gap or inflationary gap, difference between final good and intermediate good, stock vs flow variables, factors affecting demand and supply, implications of fiscal deficits, measures to avoid double counting, functions of money, etc. are some of the most popular topics.

Illustrate your answers with real-life instances. For example, if a question is asked on the law of demand, you can supplement your answer with the example of rising petrol prices and falling demand. Similarly, you can find hundreds of examples relating to various topics which can enrich your answer and fetch you extra marks.

Business Studies is a high-scoring subject despite being theoretical in nature. Nevertheless, students often face a common problem with regard to time management while writing their papers. In this regard, one just needs to stick to the prescribed word limit.

A few important chapters are marketing management, financial management, directing and organising. If a question is on types, functions, features, etc. then supplement your answers with flow charts and branch diagrams. This will help the examiner take a quick glance at all the points covered by you in your answer.

Most students tend to take pre-boards lightly, thinking “I will make up for this in boards”. By doing so you are losing an important opportunity to practise and are putting yourself at a disadvantageous position. Study regularly and you will not feel the pressure.