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THE STEREOTYPICAL ONE YEAR EUROPEAN MBA PROGRAM
The Stereotypical One Year European MBA Program
At one time there were two relatively distinct models of MBA education. The American Two Year model differed from the European One-Year model on several grounds:
|
S.No. |
Parameters |
European |
American |
|
1 |
Duration |
One Year |
Two Years |
|
2 |
Primary Driver
|
Industry Connections |
Professorial Research |
|
3 |
Course Focus
|
More Global
|
National |
|
4 |
Skills Emphasized |
Soft Skills |
Quantitative
|
|
5 |
Student Body
|
More Diverse |
Largely Similar |
|
6 |
Selection Criteria Emphasized |
Work Experience and Success |
Test Scores, Grades |
|
7 |
Age of Students
|
Late-Twenties or older |
Mid-Twenties |
POST GRADUATE PROGRAMME IN MANAGEMENT (PGP) at the Indian School of Business (ISB) is a good example of a One Year MBA Program offered in India. Its core courses are offered in initial four terms. The Course structure is as follows :
|
TERM 1: APRIL - JUNE |
|
FINANCIAL ACCOUNTING AND DECISION MAKING |
|
MANAGERIAL ECONOMICS |
|
MARKETING MANAGEMENT |
|
STATISTICAL METHODS FOR MANAGEMENT DECISIONS |
|
TERM 2: JUNE - JULY |
|
COMPETITIVE STRATEGY |
|
DECISION MODELS AND OPTIMISATION |
|
GLOBAL ECONOMICS |
|
MARKETING DECISION MAKING |
|
TERM 3: JULY - AUGUST |
|
CORPORATE FINANCE - I |
|
MANAGERIAL ACCOUNTING AND DECISION MAKING |
|
MANAGEMENT OF ORGANIZATIONS |
|
OPERATIONS MANAGEMENT |
|
LEADERSHIP DEVELOPMENT |
|
TERM 4: September - October |
|
CORPORATE FINANCE-II |
|
RESPONSIBLE LEADERSHIP |
|
BUSINESS COMMUNICATION |
PGP-ISB offers around 80 electives that help students build on their interests. During the last five terms, students can opt to take 18 to 21 elective credits. Term 4 is a cross over term, and will be a combination of mandatory core courses plus elective courses. Courses are combined to offer students the following six concentrations or majors:
- Entrepreneurship
- Finance
- Information and Technology Management
- Operations Management
- Marketing
- Strategy and Leadership
The Industry specializations offered are
- Healthcare
- Manufacturing
- Public Policy
The student must complete six credits of coursework successfully for a concentration area or Industry Specialization from amongst the elective courses specified for that specialization. Certain popular elective courses are offered in more than one term.
Advantages of a Traditional Full-Time One Year Program as compared to other methods of obtaining an MBA
- Excellent peer learning as the average age of the students is higher and the student body is rich in diversity.
- The internationalism of the top programs, especially regarding the mix of nationalities in the student body, is remarkable. More of a Global MBA.
- For those with substantial business experience, one year may be all that is necessary to broaden horizons and improve skills.
- Good industry connections mean that the best schools do very well in placing their students.
- The time spent away from one's career is limited.
- Emphasis is placed upon learning languages.
- Teaching of soft skills is often superb.
Disadvantages of a Traditional Full-Time One Year Program as compared to other methods of obtaining an MBA
- The underlying presumption that students have substantial business experience means that some of the introductory courses move at too fast a pace for novices.
- A one-year program is too short for some to develop enough new skills and contacts to make dramatic career shifts.
- Some programs are too small or too structured to offer much choice of electives.
- Some programs do not force students to acquire substantial quantitative skills, requiring a conscious choice of quantitative elective courses in order to develop these skills.
- There is little time for career reflection or exploring career options.
- Comparatively more expensive.
