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.