The global financial crisis and the consequent downturn in the job market has the B-school aspirant in a quandary. The highly coveted management degree, which had been riding on a high courtesy the bustling economy, seems to be faltering a bit.
Though this does not affect elite institutions such as the Indian Institutes of Management, the smaller colleges, courses and less-traditional options are now being looked at with measured scepticism. And rightfully so, say experts and management academics, who feel that management education cannot be delivered at the click of a mouse or through a virtual classroom. However, for scores of students and even young working professionals, distance education MBAs provide an opportunity to enhance their skills and even climb up the corporate ladder.
Several universities in India offer distance education MBAs. While several private players have stepped in, enticing students with career growth and even placements, there is hardly any regulation. Experts say that the best way to go about choosing a course would be to check if it has the approval of the All India Council for Technical Education (AICTE), Distance Education Council (DEC) or the University Grants Commission (in the case of a university). Several leading Business Schools, such as IIM-Bangalore and Symbiosis College, offer such courses. Though they ride piggyback on the reputation of their mainstream courses, the brand name lends some credibility, says Ajay Arora of the Triumphant Institute of Management Education (T.I.M.E.).
Experts also recommend the distance education course offered by the Indira Gandhi National Open University because it is structured and has a strong system — country-wide network of contact classes and study material — in place. Universities such as the Annamalai University, Madurai Kamraj University and ICFAI (private) have some programmes. Specialised MBAs such as Hospital Management, Health Science in physiotherapy, applied nutrition, education, finance and banking are also gaining ground.
Comparison
Basu Sankarshan, associate professor in finance and control area at IIM-B, says that the institute has at least four distance education cycles running every year for candidates with different experience levels. The Post-Graduate Software Enterprise Management programme is the only one that gives a diploma. Other certificate programmes include both live and remote learning. So, do these distance courses match up to the real thing i.e. a full-time classroom-based course? “Obviously not. A regular MBA is rated much higher. We try to incorporate three to five days of pure campus visit to try and give them that classroom experience,” Prof. Basu says.
Several foreign universities also offer online MBA courses. These include online lectures (sometimes not even interactive), CDs and study material. These courses are very expensive and there is no regulatory body to help students make a decision. Mr. Arora feels that though this may seem like a more comfortable option, one cannot expect too much premium from it. “Not too many employers will give these certificates a great amount of credit. It could be an additional qualification, and those who are already working may get some additional mileage within their companies, but the buck stops there,” he explains.
The current market — with its downturn and trimmed down avatar — will prove to be a leveller, experts say. J. Philip, former director of IIM-B and President of the Xavier Institute of Management Education, says that in the absence of any regulatory authority, the industry (or market) will act as one. “Employers are very, very discerning and do not value token certificates. In the case of an Indian Distance Education programme you at least get some contact classes and interaction. The foreign (online) courses are rather bleak. A lot of students are being lured by them and they are also very expensive,” Prof. Philip explains.
Warning
He dismisses the distance mode because he feels that management education is far beyond reading books and making notes. “Skills, attitudes and habits can only be taught in a full-time course. You will get a certificate, but remember management education is not like an M.A. in History or Sociology,” Prof. Philip warns. It involves team work, face-to-face interaction and a strong course; all of which is only possible in a full-time course. The one-year Executive MBA programme, which is gaining popularity, is a better option, Prof. Philip says. “This, probably, will give students, who cannot afford a long break from work, a better option to get trained in management.”
The full-time MBA courses offered overseas have not lost their sheen. However, with the depreciating rupee and the global financial crisis, students are finding it too expensive. “Recently, Citibank pulled out on loan tie-ups with U.S. Business Schools and if this trend continues, then going abroad will not be a viable option,” says Nishant Agarwal, an employee in a software company.
“This financial crisis has made the Indian student cautious about looking westward for an MBA degree in terms of jobs and placements,” says Mr. Arora. But students must graduate to thinking of what skills and perspective they can get from a management degree rather than just worry about the profile of companies where they will be placed, he adds. “That will help them decide on what course, be it distance education, online or full-time, is of real value.”
(Source : The Hindu)
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