Reasons for growing popularity of MBA colleges in India

Planning is a good thing and it is very important to have a plan in our heads, like a blue print, so that we don’t lose sight of our short and long term goals. Usually after our graduation when we think of our long and short term goals; there are two major possibilities either;

     a)     To take up a job and take the first foot forward in the career front or

     b)    To go for further educational courses

And it is a phase now where Masters in Business Administration (MBA) is one of the courses that’s not only opted by the graduates but also the experienced corporate employees.

Some of the main reasons why MBA colleges in India gained popularity are;

     a)      It is considered to be an important step towards career progress

     b)      In order to change the career smoothly, experienced people started opting for MBA

     c)      To know more and more people from different walks of life, this course is a great platform.

     d)     One can gain a lot of knowledge and real life experiences through this programme

    e)      Especially for the aspirant managers who would like to settle in abroad, this programme offers wide possibility.

In the recent times there are some of the best mba colleges in India that have become very popular. There are colleges which have the accreditation from the AICTE, ISO, NBA and ACBSP and of course it is like a feather on their hat as it displays that are capable of providing the best facilities, best of education and a glimpse of real life experiences to the fresher’s and knowledge sharing by the experienced students.

So for all the prospects who are looking forward to take a step to achieve all their set goals, MBA would be a very wise choice!

IFRS Industry Institute Interaction (III) session held at SCMS Cochin for PGDM students

SCMS Cochin School of Business organizes Industry Institute Interaction (III) sessions throughout the year to introduce students to new concepts and business practices that can increase their knowledge and employability.

 On 10^th of September 2014, the current PGDM batch attended the III session on International Financial Reporting Standards (IFRS). It is important for the PGDM students to understand the finer nuances of IFRS since they are now adopted globally. IFRS were first designed to harmonize accounting across the European Union, but the concept was soon adopted world over, making company accounts understandable and comparable across international boundaries.

Mr. Mahesh Mohan, External Quality Assessor, IAAP, UK, and Prof Dr. Gopal Sharma, National Trainer, IFRS, addressed the 23 students who were eager to learn the features and challenges of IFRS. The session began with the main speaker, Mr. Mohan, a member of the International Association of Accounting Professionals (IAAP), talking about the importance of IFRS as a Global business accounting language. He explained that IFRS are specifically crucial for multinational companies, and how their significance has increased with international shareholding and trade. He further surprised the audience with the fact that, “IFRS has been adopted and is practiced by 174 countries including India”. 

IFRS are set by the IASB (International Accounting Standard Board) and have become global standards for preparing financial statements. The globally comparable financial statements enable public companies to compete abroad, raise capital, and win global contracts. Mr. Gopal Sharma spoke to the students next and discussed the importance of understanding and practicing the IFRS. He said, “IFRS needs to be understood and followed in letter and spirit when preparing financial statements since the balance sheets and accounting statements communicate the health, wealth and pulse of a business to its stakeholders”.

The floor was eventually thrown open for discussion and the students posed questions to and interacted with the experts to clear their doubts and queries. The session was concluded by Dr. Filomina P. George, Dean- Academic Administration, SCMS Cochin School of Business, who informed the students about the inclusion of IFRS in the PGDM curriculum.

Kerala’s top management school SCMS Cochin School of Business- climbing one step after the other

SCMS Cochin School of Business has emerged as one of the best B Schools in Kerala. Go-Getter and collegecampus2corporate.com All India B School Survey 2014 has been steadily placing SCMC amongst the top in the region. The institute has made its place in crucial categories of the survey.

The Go-Getter and collegecampus2corporate.com survey is a participatory and perceptual survey that takes into account more than 150 management institutes in the country that have had a minimum of two batches graduating before 2013. After thorough authentication, 65 institutes were ranked based on various factors including infrastructure, placement, faculty, research and writing, curriculum and pedagogy, global exposure, industry interface, entrepreneurship and more. The Go-Getter and collegecampus2corporate.com survey grouped the institutes into different leagues based on their performance in various categories. The Super League was the highest category followed by A+++, A++ and so on. Based on its overall performance in the survey, SCMS Cochin made it to the Super League of management institutes in the country. Today SCMS is one of the best MBA collegein Kerala and has made its place amongst the heavyweights of management education.

So how is the institute reaching this pinnacle of success with time? SCMS creates frequent intense industry interactions to build industry readiness amidst its students. In fact, the HOI and department’s corporate network is one of the factors that is considered for the faculty category ranking, and SCMS figured in the top 5 in the section. Faculty members of the institute are involved in research, in which category, SCMS Cochin was ranked 5^th. The institute was also amidst top five B Schools in the Curriculum and Pedagogy category.  

SCMS-Cochin School of Business has always prided itself on the achievements of its students during the placement season. And, early signs indicate that the institute will be having a lot to cheer about when the placement season concludes for the Batch of 2014. So far, 50 companies have visited the campus, a number much higher than last year. Some of the companies that have visited the institute for 2014 include Deloitte, Madura Fashion & Lifestyle, B Braun Medical India Pvt. Ltd., Sutherland Global Services, CMA CGM Shared Services India Pvt. Ltd., TCS e Serve, Colgate Palmolive, HCL Infosystems, Whirlpool of India Ltd., KPMG, ITC Ltd., Tata Teleservices, Axis Bank, South Indian Bank, LG Electronics, Haritha Tech Serve (TVS Group), Hawkins, Vodafone, HIDESIGN, Magma Fincorp and Allianz Cornhill. Marketing & Finance have seen strongest placements this year.

SCMS Cochin alumni is placed all across the globe today. They are working in various industries and have made their mark. Some of them have realised their entrepreneurial dreams and are running successful businesses. The network plays a crucial role is the growth of the institute. They return to their Alma Mater with love and pride. Each one of them has a story of journey that they believe originates at SCMS Cochin, “SCMS helped me compete with the best, nationally and internationally” says alumnus Avinash Singh Bhambra.

To read more about SCMS Cochin School of Business, visit: www.scms.edu.in

Understanding Some Lesser Known Facts About Part-Time PGDM In India

When it comes to taking up a management course, most people feel skeptical about choosing PGDM courses over MBA. This is because of the various myths and misconceptions that have been associated with such courses, especially part time PGDM in India. Listed below are some of the lesser known facts about PGDM courses that can help individuals understand these courses better and make better decision in an informed manner. 

1.                 PGDM courses are offered only by autonomous bodies, i.e. the institutes   of higher education that are not affiliated to a university and are approved by the AICTE rather than the UGC.

2.                 These courses are similar to any other management course, except that they are termed as a diploma, since the autonomous bodies offering them cannot offer degree programs. 

3.                 Most often the institutes offering part-time PGDM in Cochin or elsewhere follow the same content as used for part-time MBA courses by renowned universities.  

4.                 Contrary to what many people feel, companies do not give preference to candidates having an MBA over those possessing a PGDM certification, as in the real world business community, both the qualifications are considered at par.

5.                 PGDM courses tend to be more up to date and in keeping with the current industry needs as the autonomous bodies offering them can update the syllabus more freely and in a less time consuming manner. 

Undertaking a part time PGDM course can prove really advantageous, especially for the working professionals keen about enhancing their management and business thinking skills. Taking such a course also helps them earn the concepts better by understanding the consequences of their practical implementation within the current work organization.

Best MBA Colleges In India – Creating A Strong Foundation For National Economic Growth

SCMS Cochin School Of Business

Over the past decade, Indian economy has progressed at a rapid pace, which has in fact, startled the world. Although, they have rarely been credited for the same, the best MBA colleges in India have played a critical role in bringing about this success. The colleges have been imparting much more than just basic business training to the students pursuing an MBA degree. In fact they have helped in enhancing the skills and the efficiencies of the MBA students to help them become better managers capable of leading their teams and in many cases, their entire organizations on a path of constant growth and success. 

The use of latest educational tools and technology combined with the knowledge and experience of the highly qualified faculty appointed by these colleges, inspire the students to think out of the box. This enables them to develop innovative solution for problems in a cost-effective and time-saving manner. The students become well-versed in the art of critical thinking and holistic decision making that proves beneficial not only for their organization but also the nation’s economy in general. The colleges also help the students to learn the art of facing real time and complex business challenges and resolving the same in a cool and calm manner. For this they organize certification programs and guest lecturers from top ranking management professionals who share their experiences with the students. 

A top ranking college for MBA in Cochin or for that matter any part of India, focuses not only on developing the managerial skills of individuals but also on making them business professionals with a sharp and innovative mind. They pay special attention towards developing the self-confidence of the students to make them capable of accepting the various challenges of business and providing economically viable solutions for the same. This ensures that the students not only gain success in their professions but also help in the growth of the nation’s economy in a significant manner.

How easy is it to survive in the Retail Industry?

Alumnus Mr. Hari Krishnan

With his background in hospitality industry, Mr. Hari Krishnan joined SCMS Cochin School of Business in a bid to boost his career prospects. The move paid off as he was recruited on campus by Spencer in the year 2007. He started off with the company as a Retail Management Trainee and worked his way up to be the Assistant Manager, Marketing, in just a few years’ time. But above all, he had gathered rich experience in the dynamic and extremely competitive retail industry, which has led him to bag the position of the Assistant Manager, Marketing with Landmark Group.

Mr. Krishnan has worked with the company for the past one year. Looking back on his journey filled with years of hard work and dedication he says, “Before joining SCMS Cochin I worked as a Banquet Manager in Kochi besides Dominos Pizza. I am happy I went to the institute because it got me placed with Spencer when the food and beverage industry was booming. Since then, there was no looking back.”

Today, Mr. Krishnan is a seasoned professional in the retail industry and has seen it evolve over the past few years. Sharing his insights on the industry he says, “Since I have worked in Food sector I can tell you that if you don’t show output, you won’t succeed. Retail has its pros and cons; the most important thing is investing in the right location because that’s something the customer pays attention too. Reaching people through public media remains the key to success as well.”

Mr. Krishnan believes that it is an industry where you can invest and grow. However today, many in the industry are not investing; trying to maintain what they have put in. That’s what makes him think that it could be the right time for Retail Banking. He also has useful advice for those who want to enter the industry. “Retail is not a white collar job because you have to get your hands dirty. But there are unlimited opportunities as you can take up any function from marketing to finance and operations,” he adds.

Ask Mr. Krishnan about the major benchmarks in his career so far, the avid learner is quick to mention, “Managing the 22,000 sq ft Spencer store in Chennai, which was doing Rs. 26 lakhs average selling per day was a big high. But more than that I appreciate the biggest learning I had there; I was taught to say NO. It is a learning you will need in every industry because at one point or another, you will have to say NO to clients or customers. If you keep saying yes and don’t deliver, then it’s a big sign of failure.”

He has definitely taken his learning on board, which he uses in his current job profile in merchandising, for the Dubai based MNC. Mr. Krishnan handles Kerala marketing operations from the office in Kochi. He remains as passionate about the retail industry as he was during his time at SCMS Cochin where he first realized his calling. He believes it was the time when he learned to be assertive and control his emotions. But he gets emotional talking about the institute where he has been a couple of times since and stays in touch with his batch mates.

So if Mr. Krishnan were to hire from his institute, what are the attributes he’d look for? Without batting an eyelid he says, “I will not look for the mark sheet but pay attention to their communication skills and body language.” That’s something present students at the institute could do well knowing. Mr. Krishnan concludes with further sound advice for students, “Be focussed on what’s good for your career. Take the good from wherever you might be. If you want to join the Retail Industry, make sure you are ready to start from the scratch and see yourself rise.”

Mr. Vishnu Suresh talks about his solid career in HR so far and sheds light on the functioning of the industry

SCMS Cochin School of Business

Mr. Vishnu Suresh was always interested in Advertising and Sales promotions, which is why he joined SCMS Cochin School of Business. And, during the course of his academic stint he was given opportunities to interact with experts in the field, as he was the part of the Industry Interaction Committee. He thrived on the challenge of making sure these professionals came to the institute’s campus for various interactive sessions. “That made me realize that I was more of a Human Resources person,” he admits. This self-realization has translated into a prolific 8-year career, which sees him as the Business Partner, Human Resources at Tata Elxsi.

The successful journey in HR began for Mr. Suresh during the campus placements in 2007. “It was there that I met people from Allianz and managed to impress them,” he says. “It was a campus placement and I joined the company as Senior Executive, HR. When I was working with them I figured out that HR as a domain was my strength and I should be working on it.” Mr. Suresh worked with the company for around 6 years, and was the Assistant Manager, HR when he decided to move on. Since then he has been HR Business Partner for the Automotive Business Unit at Tata Elxsi.

He believes that his time working at Allianz was a huge learning experience for him. “I started out handling a group of around 160 Software Engineers,” he recollects. “I was managing the key operations for around 3- 4 years and then I was handling the major operation, which was set up in UK and Germany.” Mr. Suresh also agrees that the job was filled with challenges, which made him innovate and come up with ideas that would adapt to individual situations. One example of his success is the Back to Homeland campaign (Boomerang club), which was employed by Allianz with great success.

Talking about that campaign, he says, “It was basically for those who had left the company and were working outside Kerela, who we thought should be working with us. We sent them mail and flyers inviting them to join us again with a 60% success rate.” Another tricky situation he had to handle was when Allianz KPO needed to hire around 60 veterinary doctors with only a small pool to pick from. He adds that most of them preferred to work in the medical field rather than KPO. That’s when they came up with the idea of a loyalty bonus for the doctors, which worked quite well.

There’s indeed a lot to learn from Mr. Suresh’s experiences since he has hands-on exposure in the field. He shares some of the pointers for the HR industry, saying that there are three parameters that acts as the pillars of employee retention: work, work life and compensation. “If any of the two parameters are missing then the person will not able to work. Well, that’s the first sign of employee Dissatisfaction. It is a triangle which has to be intact,” he adds. His understanding and efforts have not gone unnoticed, as can be seen from the Best Performer accolades he has won. It was again an innovation on his part that brought him the recognition.

Mr. Suresh sheds light on the achievement, saying, “It was a project where we put an end to HR process in the UK and outsourced it to India. The HR department is considered to be a support system and a non-billable department. But we were able to generate good revenue; so, based on this project and some others I was given the award.” It was on this high that he moved from a “flamboyant and warm” company like Allianz to a “seasoned company” like Tata. He agrees that it was tough to join a pure engineering company that deals with automobiles, but his passion for the field and expertise in HR has made the transition seamless.HR is an integral part of an organization and where hiring happens. So, Mr. Suresh is probably the best person answer the question: what do hiring professionals look for in a job candidate? He ponders before answering, “The first thing we look for  the style of  the candidate’s presentation and the style of communication, including how much the candidate knows about the topic, and how creatively he puts it in words.. Secondly, I like to ask a question to see if they have a different approach to varied situations. I also like to see presentable students who make an impression and have the capability of thinking out of the box.”

That’s something he says he was prepared for by SCMS Cochin where he was awarded the Best Outgoing Students award during his academic years. He remembers being part of every activity that he was interested in and learning immensely from them. “One of the important lessons I learned is to value relationships,” he says. “I even made a film on relationships during Panorama 2006, and it was quite appreciated. It’s something I pay importance to till date.” No wonder he keeps his relationship with the institute going and has visited the campus since his graduation. And, he hopes to return for hiring in the near future, and that’s more good news for the students. 

National Conference on Knowledge Management hosted by SCMS Cochin in partnership with Consultancy Development Centre has a lasting impression on those in attendance

SCMS Cochin recently hosted a National Conference on Knowledge Management, which saw some of the leading names in the industry and academia participate and share their insights. The two-day event was held under the “Building Capacities for Consultancy Development & Knowledge Management with Partner Institution (KMPI)” Programme run by the Consultancy Development Centre (CDC). SCMS Cochin, being its Knowledge Management Partner Institute, did everything in its power to ensure that the event turned out to be a huge success. Read More...

Getting admission in MBA colleges in India

One great reason for such a huge expansion of MBA colleges in India is the inflation in the number of students who aspire to do this course. The admission process of the different MBA colleges varies from each other. This post will help you in getting acquainted with the various steps that needs to be taken for getting admission in the MBA college:

·        Check your goals

You need to pick your MBA college that goes in sync with your desired program which in turns caters to your career goals. There is a gamut of subjects in which we can complete the MBA right from finance to healthcare. You need to examine the college profile, the course program and the other information.

·        Eligibility check

After selecting the course, check the eligibility requirement of the colleges. Most of the colleges hold the similar requirement of at least 50% in aggregate in Graduation in any discipline or its equivalent.

·        Mode selection

When you want to pursue MBA colleges in Kerala, you can find 4 modes- full time, part time, executive and distance learning. You can choose the mode as per your convenience and financial dynamics.

·        Bucket list of institutions

After testing the colleges on the above parameters, you can easily strike out a  few from the list and can get a list at your disposal. Now you need to check the examination dates of these colleges and start preparing in accordance with the exam pattern of the colleges you have picked.

·        Admission essentials

Admission notification will come both in the newspaper and on the website. You can apply online for the entrance exam. The entrance test will give you a cumulative score based on your performance. If you qualify the entrance test, then next on the list would be GD and PI.

·        Final selection

Having cleared all the exams- entrance, GD and PI, you become eligible for the final selection and you can start with your career goal.

A look at facts of PGDM program

The PGDM course has become a rage in the country, whose spell was once restricted to only United States of America. No doubt the program was coined by the American universities such as Yale, Harvard and Stanford, but now India has become one of the great institution when it comes to pursuing full time PGDM. Let's have a look at the fact file of a PGDM degree:

§     A PGDM program is taken by the graduates of different disciplines who have the vision to make a good career. A good college only has students who have scored exceptionally well in their selection test. It means when you pursue full time PGDM in India you gain the chance of meeting the excellent performers of different disciplines.

§     The teaching methodology used in the MBA program is based on interactions and practical aspects. The students are taught the different aspects of business through practical case studies. Thus, discussions within the classroom becomes a daily task.

§     When one decides to pursue this course, then regular studies and regular knowledge about the happenings of the world becomes an essential thing. You are required not only to be aware about what is happening in the business arena, but also effectively analyze its impact on the economy.

§     One can learn key points on interpersonal behavior from this program. You get to work in groups, thus you have to deal with different human dynamics and understand others and at the same time put forward your point. One can imbibe great leadership qualities from this course. At times you need to handle your team and act as a team leader and on the other occasions you have to walk as a part of a team and follow the leader.