Dear Students,
LAST WEEK WE ASKED: Do you think joining a B-school is the best bet during a downturn?
BEST RESPONSE
Apart from a major economic downturn, the other reason for the dismal placements at B-schools is the mismatch between the skill sets required at the workplace and those taught at B-schools. Management institutes should focus more on aptitude building and personality development rather than rote learning through textbooks. A student having enough practical exposure beforehand would make his way out even during recession.
OTHER RESPONSES
Joining a B-school may be the best bet during downturn as well as during upturn.Students acquire knowledge of business management at B-schools.They learn about different types of business and how business works.If the knowledge is practiced, then it is fully used.During downturn,there are few jobs.It is always good that students learn some more at B-schools to get jobs.
Downturn is a cycle of up-time and downtime. While you will be completing MBA there are good chances that market will turn positive. During your MBA you will be building your skill set and qualification, Networking with other MBA students, Building profile for future, Developing Managerial Skill, Building your business acumen. During your MBA you will be honing your soft skill along with technical skill thus assuring sustainability of job even during downturn. Moreover, In long run it will help you to start your own business.
The notion of joining a B-school during the downturn is a quite valuable proposition. Considering the situation at hand, hunting for a job has least possibility of yielding something fruitful. Also a period of unemployment would have a negative impact on the individual's future career. While overlapping a management course with the duration of downturn will serve as an opportunity to kick-start your career to greater heights. By the time economy recovers one would possess sufficient knowledge along with an MBA degree to be applied in the recruited company.
B-School is not just a platform to get job. It develops an individual from tip to toe. There are immense entrepreneurship opportunities and sources of practical learning. To dilute the effect of downturn, one needs to perform out of box in diversified arenas. Moreover, after every fall of a tide there is a rise, similarly downturn cannot remain forever. But the knowledge gained would help an individual grow in long run. Hence, joining a decent B-school is the best bet during a downturn.
Developing a niche in managerial flair is always desirable irrespective of the financial condition of the job market. Undoubtedly, the more experienced and qualified the person is, more is the scope for him to bargain high notch salary in the market. During recession it is necessary to hone one's professional skills but that simply doesn’t imply joining a B-school. A closer look into the market will reveal that there exists a cycle of downturn and robust growth in the market. Sooner or later the qualifications will come handy in getting the best job offers.
Though an MBA can raise the immunity level to withstand a turbulent market, it can't be asserted for every college. Only a few good ones remains insulated from the depressed hiring sentiment. The non-availability of funds and a meltdown of confidence in industry provides a room for a very few vacancies which are immediately captured by the best of the minds from the ivy-leagues' leaving virtually no opportunities for others. Further, the heavy cost of MBA versus a low salary quotient yields negative returns. Thus a downturn steals the shimmer of this shining bet.
I believe practical exposure + networking gives a person more hands-on experience while B-school is more about learning soft skills and management jargons along with a structured theortical way of doing job related tasks. its more viewed as learning platform for higher ladder jobs but its a school for getting a Management degree certificate while the practicality of learning job is different. So I think it's not a wise option to join b school during downturn.
In downturn studying for qualification is good investment. According to latest business survey in 2011-2012, The market has emerged unscathed from a slowdown in the rate. Not only IT and BPO sectors but also other sectors more than nine lakh new jobs are added per year. The average salary of our students has also gone up. Each, country has been able to withstand the adverse impact of the global crisis and generate employment. Many quarter sum. There are tremendous opportunities lie only students have to grab. In slowdown accepting appropriate profile and neglecting other factors is good strategy.
A very clear reason behind joining B-Schools is to get a lucrative jobs and for this students make a very high investment. But the purpose of students’ high investment will come true only when business entities make a huge investment because it ultimately create an ample of jobs but companies investment is directly proportional to economic growth or slowdown . In condition of economic slowdown companies are not very clear about profitability so they hesitate to further expansion. In a slowdown, the job scenario is very poor and the student doesn’t get a return on investment as fee are very high.
The two perspectives can be: 1. The recent graduates who can afford higher fees of B-Schools or can get education loan should go for higher studies, as any investment in knowledge will ensure improved ROI. Others who are aspiring to get the job if they are clear with their short term goal and if the organization is offering expected profile they should join at lower position which will improve quickly as they will perform passionately. 2. Existing employees get hit by downturn only if they are less profitable from company’s perspective, so they can join B-School/ Executive B-School to sharpen their managerial skills.
B-school education is more about a interest and having basic skills rather than being a trend follower or simply doing it for the sake of doing. It has been often observed that youth In India has followed a trend in various courses not sparing MBA for that matter of fact and as a result of this impulsive step they end up actually harming their glorious career which was stable otherwise. Given this fact, graduates and experiences people should rather focus on garnering the basic skill set, prerequisite to be a manager rather than chasing the managerial education merely upon trends.
For many people, the recession climate presents them with no options left but to figure out what’s next, expand their horizons and start over on something entirely new. This period of unemployment should be seen as a window of opportunity to reinvent oneself with new skills and leanings. Being unemployed for a prolonged period can take a psychological toll. And it’s never too late to learn something new. So I think to constructively wait out the economic downturn and until the economy turns healthier, joining the B-school is the best bet to opt for.
The lessons learned by our older generations are coming back to their children living through the current Great Recession. Not everyone is going to plant a vegetable garden in the back yard or save string, but some of the big picture lessons have relevance for both businesses and individuals. At the peak before the global financial crisis, new business schools were cropping up almost every day, some in remote towns where even quality secondary education is hard to come by. The allure of so-called B-schools outside the top tier is fading as the economy grows at its slowest in nine years, with the financial sector especially sluggish, and amid questions about the quality of some schools.
Your responses should reach us at edu@business-standard.com by Monday evening every week. Please ensure that your responses do not exceed 100 words. Avoid attachments and email your full name, institute's name, batch and complete mailing address. The student who gives the 'Best Response' will be awarded Rs 500.
THIS WEEK'S QUESTION: Do you think B-schools should provide incentives to their faculty members to better research?
LAST WEEK WE ASKED: Do you think joining a B-school is the best bet during a downturn?
BEST RESPONSE
Apart from a major economic downturn, the other reason for the dismal placements at B-schools is the mismatch between the skill sets required at the workplace and those taught at B-schools. Management institutes should focus more on aptitude building and personality development rather than rote learning through textbooks. A student having enough practical exposure beforehand would make his way out even during recession.
- Khyati Kapoor, IMNU, Ahmedabad.
OTHER RESPONSES
Joining a B-school may be the best bet during downturn as well as during upturn.Students acquire knowledge of business management at B-schools.They learn about different types of business and how business works.If the knowledge is practiced, then it is fully used.During downturn,there are few jobs.It is always good that students learn some more at B-schools to get jobs.
- Rituparna Saha Ray, Fr. C. Rodrigues Institute of Management Studies, Navi Mumbai.
Downturn is a cycle of up-time and downtime. While you will be completing MBA there are good chances that market will turn positive. During your MBA you will be building your skill set and qualification, Networking with other MBA students, Building profile for future, Developing Managerial Skill, Building your business acumen. During your MBA you will be honing your soft skill along with technical skill thus assuring sustainability of job even during downturn. Moreover, In long run it will help you to start your own business.
- Nilaya Mitash Shanker, IIT Roorkee.
The notion of joining a B-school during the downturn is a quite valuable proposition. Considering the situation at hand, hunting for a job has least possibility of yielding something fruitful. Also a period of unemployment would have a negative impact on the individual's future career. While overlapping a management course with the duration of downturn will serve as an opportunity to kick-start your career to greater heights. By the time economy recovers one would possess sufficient knowledge along with an MBA degree to be applied in the recruited company.
- Shivam Chhabra, Integral University, Lucknow.
B-School is not just a platform to get job. It develops an individual from tip to toe. There are immense entrepreneurship opportunities and sources of practical learning. To dilute the effect of downturn, one needs to perform out of box in diversified arenas. Moreover, after every fall of a tide there is a rise, similarly downturn cannot remain forever. But the knowledge gained would help an individual grow in long run. Hence, joining a decent B-school is the best bet during a downturn.
- Saurabh Kumar, Institute of Management, Nirma University (IMNU), Ahmedabad.
Developing a niche in managerial flair is always desirable irrespective of the financial condition of the job market. Undoubtedly, the more experienced and qualified the person is, more is the scope for him to bargain high notch salary in the market. During recession it is necessary to hone one's professional skills but that simply doesn’t imply joining a B-school. A closer look into the market will reveal that there exists a cycle of downturn and robust growth in the market. Sooner or later the qualifications will come handy in getting the best job offers.
- Dipika Sahoo, College of Engineering and Technology.
Though an MBA can raise the immunity level to withstand a turbulent market, it can't be asserted for every college. Only a few good ones remains insulated from the depressed hiring sentiment. The non-availability of funds and a meltdown of confidence in industry provides a room for a very few vacancies which are immediately captured by the best of the minds from the ivy-leagues' leaving virtually no opportunities for others. Further, the heavy cost of MBA versus a low salary quotient yields negative returns. Thus a downturn steals the shimmer of this shining bet.
- Nandish Agarwal, Galgotia's College of Engineering and Technology, Greater Noida.
I believe practical exposure + networking gives a person more hands-on experience while B-school is more about learning soft skills and management jargons along with a structured theortical way of doing job related tasks. its more viewed as learning platform for higher ladder jobs but its a school for getting a Management degree certificate while the practicality of learning job is different. So I think it's not a wise option to join b school during downturn.
- Kanchan Kaur Hira, N L Dalmia Institute of Management Studies and Research, Mumbai.
Also Read
In downturn studying for qualification is good investment. According to latest business survey in 2011-2012, The market has emerged unscathed from a slowdown in the rate. Not only IT and BPO sectors but also other sectors more than nine lakh new jobs are added per year. The average salary of our students has also gone up. Each, country has been able to withstand the adverse impact of the global crisis and generate employment. Many quarter sum. There are tremendous opportunities lie only students have to grab. In slowdown accepting appropriate profile and neglecting other factors is good strategy.
- Pooja Khule, Vishwakarma Institute of Management, Pune.
A very clear reason behind joining B-Schools is to get a lucrative jobs and for this students make a very high investment. But the purpose of students’ high investment will come true only when business entities make a huge investment because it ultimately create an ample of jobs but companies investment is directly proportional to economic growth or slowdown . In condition of economic slowdown companies are not very clear about profitability so they hesitate to further expansion. In a slowdown, the job scenario is very poor and the student doesn’t get a return on investment as fee are very high.
- Sumit Sourav, Regional College of Management , Bhubaneswar.
The two perspectives can be: 1. The recent graduates who can afford higher fees of B-Schools or can get education loan should go for higher studies, as any investment in knowledge will ensure improved ROI. Others who are aspiring to get the job if they are clear with their short term goal and if the organization is offering expected profile they should join at lower position which will improve quickly as they will perform passionately. 2. Existing employees get hit by downturn only if they are less profitable from company’s perspective, so they can join B-School/ Executive B-School to sharpen their managerial skills.
- Sarang Dani, Vishwakarma Institute of Management, Pune.
B-school education is more about a interest and having basic skills rather than being a trend follower or simply doing it for the sake of doing. It has been often observed that youth In India has followed a trend in various courses not sparing MBA for that matter of fact and as a result of this impulsive step they end up actually harming their glorious career which was stable otherwise. Given this fact, graduates and experiences people should rather focus on garnering the basic skill set, prerequisite to be a manager rather than chasing the managerial education merely upon trends.
- Tushar Shah, School of Petroleum Management, PDPU, Gandhinagar.
For many people, the recession climate presents them with no options left but to figure out what’s next, expand their horizons and start over on something entirely new. This period of unemployment should be seen as a window of opportunity to reinvent oneself with new skills and leanings. Being unemployed for a prolonged period can take a psychological toll. And it’s never too late to learn something new. So I think to constructively wait out the economic downturn and until the economy turns healthier, joining the B-school is the best bet to opt for.
- Vivek Patel, Institute of Management Nirma University (IMNU), Ahmedabad.
The lessons learned by our older generations are coming back to their children living through the current Great Recession. Not everyone is going to plant a vegetable garden in the back yard or save string, but some of the big picture lessons have relevance for both businesses and individuals. At the peak before the global financial crisis, new business schools were cropping up almost every day, some in remote towns where even quality secondary education is hard to come by. The allure of so-called B-schools outside the top tier is fading as the economy grows at its slowest in nine years, with the financial sector especially sluggish, and amid questions about the quality of some schools.
- A Bhuvana Bhimaiah, Alagappa University.
Your responses should reach us at edu@business-standard.com by Monday evening every week. Please ensure that your responses do not exceed 100 words. Avoid attachments and email your full name, institute's name, batch and complete mailing address. The student who gives the 'Best Response' will be awarded Rs 500.
THIS WEEK'S QUESTION: Do you think B-schools should provide incentives to their faculty members to better research?