I am not particularly concerned with the reasons why people want to pursue an MBA. At the end of it at the core the reason is money. I wouldn't blame the system either which demands a degree in management to climb the ranks in an organization. The one's who do an MBA call it a hoax. The one's without it call it a ray of hope. But, yet the power of this 3 letter abbreviation is for all to see.
I have personally had times when I have wanted to pursue management studies so that it hones my leadership skills, and makes me more aware of things and build up essentials required to undertake managerial responsibilities in an organization. Which is true. Do you think without a know how of what all are the factors associated in taking business decisions I would be able to undertake positions of high responsibility especially the responsibilities involved in huge businesses. These businesses have reached this position after years, one wrong move from a not so competent manager could mean a disaster for the entire business and a threat to the hardwork of so many people involved in the business over the years. The real purpose of an MBA is this. To be capable of handling various arms of the company .... EFFICIENTLY .... The stream of choice ofcourse varies from person from person.
Money, Dowry, Marriage, Extortion, Pride, Ego, and what not reasons are the fringe benefits(Do not want to mingle my views against these topics when talking about MBA, So ignoring them). I do not say that they are not important(depends on a persons point of view) but I mean to say that at the end of the day if you do not transform yourself into an efficient manager be it from whichever B-school these benefits are a mere short-lived paradise. The lack of understanding of this very subject has given rise to institutes of the likes of IIPM. And the donations for absolutely average B-schools have sky-rocketed to amounts which if given away as charity would solve the problems of atleast 5 Vidarbha farmers. One could actually start an NGO with that kind of money. But the laws of the world are actually really simple. Where there is a demand, supply has to be provided, if supply is restricted, the people on the side of the demand are ready to pay astronomical amounts. The rat race has gotten to everybody. It all starts with lack of quality institutes. Then the problem worsens with the unbelievably huge number of aspirants... and mind you we indians are known to be intelligent ... so it is large number of good quality aspirants flowing in every year which means only handful get into the best colleges and a huge chunk of them are left finding just another MBA college. This huge chunk is pushed back into their jobs and try again next year competing yet another year with top quality students. And getting disappointed yet again and then finally landing into a college which they never wanted, just in pursuit of a better career and for a fitting end to their academic life to finally settle down and have a family.
Nobody wants substandard education. The problem is that we all who are a part of the rat race are being pushed into this regardless if we want this or not. It is not like people do not get jobs after graduating from 2nd rung or may be 3rd rung or 4th rung institutes. But the problem lies in the first rung being considered as Gods and the second rung being ambiguously considered as good just on the basis of a handful of entrance exams and a limit on the number of seats in these institutes. If anybody doesn't believe that the people from IIM's are treated as heroes, the salaries speak for themselves. All of us ask, what is that thing which is special about them that they get a salary which is approximately 5 times that of mine after we both get a PGDM certified by the AICTE. And if there is something so special(decided on the basis of an entrance exam) then why are seats so limited that force me to call myself not as special as him, when I know I have it what it takes to be there and I have also proved myself to be good enough in these MBA exams. The increase in the number of IIM's and in their seats is a good move, but is it enough to lessen the kind of bias that exists in the system today??? If a certain college is given AICTE approval why is it not considered on similar lines as any other good college which has got the same approval. That means the process of this accreditation is flawed. You either not give the approval or you give the approval on the basis of strict rules which would ensure everybody the same kind of development and an equal chance to fetch the top jobs ( Why not .... MBA to humne bhi kiya hain ... aao dekhe kisme kitna hain dum)
The exclusivity attached to the IIM's is fair enough. Otherwise why would 2 lakh people slog their asses every year in order to try and get into one of them. My only point is, don't make the junta who is not from the IIM's look like loosers who are not good enough to fetch the fattest of pay checks. If the Indian system devices a way to create a strong second rung of colleges which is lacking today... There would be atleast some kind of justice that would be done to the lakhs of participants who are ready to shell out lakhs to attain a management degree(for their various reasons) by giving them a feeling of belonging to a clan of good managers. The 3rd and 4th rung would continue to exist due to the huge demand. But atleast a good 50-60 colleges to choose from in the second rung who would be considered at par with each other considering various factors ... right from good learning methods to getting a good job.
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