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Can an MBA college enable you to transform a lightbulb moment into a business idea?

Can an MBA college enable you to transform a lightbulb moment into a business idea? 

The citizens of ancient Syracuse may have been surprised to see a man run past them naked, dripping, and shouting, “Eureka!” which means that he had found it. The person who ran naked was Archimedes – a very celebrated mathematician, scientist, and inventor, who was known to be the king’s confidant.  

He seemed to have discovered the ‘principle of buoyancy’. He was so deeply focused on the problem that he just forgot everything about his surroundings while being at the zenith of joy. We call it a Eureka moment or a ‘Lightbulb’ moment. 

What do we not know about Lightbulb moments?

A lightbulb moment is celebrated, written about, and read for centuries as we have seen above with Archimedes. However, a lightbulb moment occurs when one is deeply immersed and focused on a mission or a goal – for weeks, months, or even years together. You have to be devoted to the mission for a long period of time to discover the Eureka or the lightbulb moment. 

Lightbulb moments may happen anywhere and not necessarily in the labs or a controlled environment that you may be working in. When the apple fell on Newton’s head, he wasn’t in his lab, right?

What’s the genesis of a great business idea?

If you read about great businesses and entrepreneurs, they will tell you that they may have pondered about a problem for long, and then a ‘lightbulb’ moment gave them the confidence to take the leap of faith. 

However, between the ‘lightbulb’ moment (business idea) to creating a sustainable venture that will significantly impact lives is a long and arduous journey.

How can one transform a ‘lightbulb’ moment into a profitable business?

Almost all of us may have had ‘lightbulb’ moments at some point of time in our lives. However, pursuing it relentlessly to build a business is not everyone’s cup of tea. While some may have the entrepreneurial zeal and courage to keep going, the entrepreneurial spirit by itself may still not be enough. 

It requires a clear ecosystem around the idea to enable the founders (or entrepreneurs) to transform the idea into a sustainable business. 

The role of management colleges and start-up incubators

No one can stop an idea whose time has come. We have all heard that and know that. However, it is important to take note of well-experienced educational institutes and incubation centers that accelerate the journey of transforming ideas to realization. 

An engineering or management college is often the place of birth of many ideas. There are a number of well-covered stories in the media about entrepreneurs who built businesses out of an engineering college or a management college. 

It comes as no surprise then that many of these colleges have in-house start-up incubators to enable their students to capitalize on their lightbulb moments and convert them to sustainable business ventures by providing them with tools, resources, network, connections and mentors.

What are the resources that these colleges provide to empower ‘lightbulb’ moments?

“Ideas are no one’s monopoly”, said visionary business leader Dhirubhai Ambani, the founder of Reliance industries. It is also true that it is not directly correlated to your age or experience. It is why some of the most innovative companies of today have come from dorm rooms of colleges when founders were in their late teens or their early twenties. 

However, that is more of an exception than a rule. A young bright person may have many ‘lightbulb’ moments but may not necessarily know how to structure them for transformation into a business or a company. 

That’s exactly where some reputed colleges and their incubation centers step in. The resources that they might offer are as below: – 

  1. Well-connected Digital Labs – A ‘lightbulb’ moment is important but it is just the beginning. There is a need for resources so that one can research further, build on the idea, file for patents, own the IP, and create a scalable business from it. Such innovation would need access to resources that help them to stay connected with the best insights in the world. A reputed management college may provide students with such labs to work on their ‘lightbulb’ moments. For example: – At N. L. Dalmia Institute of Management Studies and Research, the students can make use of an always open state-of-the-art digital lab which can accelerate their research and enable them to convert their ‘lightbulb’ moment into a prototype/ initial outline/ business plan in no time. It is just the thrust that a ‘lightbulb’ moment needs to get off the ground. 
  2. Experienced Mentors – You may need to vet your ‘lightbulb’ moment. It must be run through eminent professionals with great experience and expertise in these fields. A PGDM college with the best professors across subjects ensures that you have access to the best in the business and their extended network would help you to connect with the best in the industry. This connect with mentors is invaluable at an early stage and is often the key differentiator between a successful start-up and one that failed to take off. 
  3. Testing Ideas – Colleges often have the resources or facilities that can help you to test an idea. An engineering college may enable you with the resources and facilities to build and execute pilot products/ projects. A management college may help you to validate models and ideas that you may have built to give you the confidence required for it to scale. At N. L. Dalmia Institute of Management Studies and Research (NLDIMSR), the students are empowered with Asia’s largest Bloomberg Lab which has 24 Bloomberg terminals. If your ‘lightbulb’ moment is in the field of finance or financial markets, there probably won’t be a better test space for you than such a lab. 
  4. Finding Co-Founders – If you ask venture capitalists about their investment decisions, one of the common ones that you will find is that the founders are very compatible with each other and their skills were complementary. If founders know each other well, it is always an added advantage. If you start from a management college and your founders are from the same batch or same college, it is an added advantage in terms of enabling you to secure capital or initial funding to get the venture off the ground. 
  5. Capital or funding – Once you have a ‘lightbulb’ moment, you may need seed capital to get it up and running. A good word from your college and your affiliation with its brand is very useful in helping you with the initial funding. Only if you have the initial funding will you be able to transform the ‘lightbulb’ moment into a business. 
  6. Global Pilots – When a ‘lightbulb’ occurs, you may dream of making it a global business venture. An MBA college, especially one that offers Global MBA Programs, can be very useful in such an endeavour. At NLDIMSR, the Global MBA Program offers its first/ foundation year in the Mumbai campus of the college. The second year is conducted at the University of Wisconsin-Parkside (UW-Parkside), USA. This enables you to meet students from different countries and cultures. It may help you to test your ‘lightbulb’ moment across cultures and strengthen your belief in making it a global business. 
  7. Business Plan creation – A business plan is the ‘preamble’ for your business success. A good MBA institute will enable you to convert a ‘lightbulb’ moment into a business plan – a very critical step in the journey. 

Wrapping Up 

A ‘lightbulb’ moment to a sustainable business is a very significant and difficult journey. If it weren’t, there would have had more than 4 billion entrepreneurs in the world. (that’s the world population aged 20-60 years old).

Hence, it is very important for countries to build institutions and incubation centres that can tap into the ‘lightbulb’ moments and convert as many of them into entrepreneurial ventures or start-ups as possible. 

An MBA college can offer the resources, pilot test environments, peer groups, mentors, advisors, and networks for funding such enterprises and enabling them to begin their journeys. So, if you are at an MBA institute such as NLDIMSR, do not let your ‘lightbulb’ moments go waste. Transform them into a great business and let it be your first and last job! There is no greater joy than building a venture and creating an enterprise!

 

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Global MBA v/s regular MBA – Which one to choose?

A Masters in Business Administration (MBA) program is a pass to managerial and subsequently, leadership roles in a company. An aspiring student or professional who wants to pursue an MBA must make a choice between opting for a Global MBA v/s going for a regular MBA course offered in his own country. Let’s take the example of India here for explaining the concept better. 

The Similarities

Whether one opts for a Global MBA or a regular one, the course content and structure is designed around key concepts such as finance & accounting, marketing & brand management, human resources management, operations management etc. In addition, the key aspects of managing teams and leading them, and organizational behaviour is also taught. Business strategies touching upon the above mentioned subjects make MBA a very interesting and enlightening course. A Global MBA and a regular MBA will both cover the above aspects in vivid detail. 

What’s the difference then?

There are a few differences that clearly demarcate a global MBA from a regular one. We highlight it as below: – 

  1. The Outlook: A Global MBA program is designed to enable the aspirants to gain the desired knowledge, skills, training, and interactions that can accelerate their journey towards becoming global business managers. The emphasis on international trade and business, and how it impacts organizations is touched upon more in a Global MBA program. A regular MBA program may not delve into International business and laws governing it in depth. However, it might enable the students to learn about each department of an organization in depth and apply the same in managerial roles.
  2. The diversity: A Global MBA program enrols students/ professionals from various nationalities. The faculty is also from different nationalities and backgrounds and hence it offers a truly global experience. The diversity that each group brings to class is significant and hence, offers great learning enriched by diverse perspectives and approaches to solving case studies and problems.  
  3. The Prospects: A Global MBA program might offer enhanced prospects as companies from across the globe may be looking at placing bright students into their companies. It may enable students of the global program to tap opportunities in the world’s most exciting companies, leading technology behemoths, consultancy firms etc. A regular MBA would also enable you to get great opportunities, but may not be as diverse as a Global MBA. 
  4. The Network – A regular MBA may provide a network that might be limited to a particular country (India, in our case). Of course, with the premier institutions, the alumni network may enable the students to expand their network, but it may still have a limited reach. With a Global MBA, the network that you will create will also be global. It may become easy for global MBA students to reach out to various companies, industry types, countries, and communities.
  5. Job Opportunities: A global MBA will open a plethora of opportunities for MBA students. What’s more, the remuneration may also be comparatively higher than a regular MBA. However, one must also consider such aspects along with the cost of a global MBA. The total cost of a global MBA would be much higher than a regular MBA. 

Wrapping Up

While a global MBA looks like a clear winner, it may not be so. Students must consider the cost of a global MBA in terms of loans and funding required for travel and accommodation. A global MBA may also get impacted depending on economic cycles. For example – during a recessionary time when companies are likely to cut down on costs, a global MBA student may not find it easy to get the lucrative job that we have mentioned above. Also, a global MBA may often mandate a few years of relevant work experience which might make many MBA aspirants ineligible for it. While a regular MBA may not match up in terms of international exposure or global learning, it still offers great learning (both theoretical and practical) and enables students to become one of the most sought-after professionals in the country, especially if they have obtained their MBA from a premier business school. Aspirants must carefully consider all aspects of a regular and global MBA program before taking up either. It wouldn’t be a great idea to choose a Global MBA over a regular one without giving considerable thought to the merits and challenges that both bring along

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5 Must-Read Books for a Business Analyst

A business analyst is one of the most sought-after roles in the industry today. A business analyst is a solution-oriented person who is responsible for enhancing operational efficiency, reducing costs, and augmenting the company’s top-line. To attain this objective, a business analyst comprehensively understands the processes in a company, their interlinkages, and usage and consumption data arising out of such processes and operation. With a holistic view of processes and operations and equipped with the relevant data points and insights, a business analyst suggests ways of enhancing efficiencies and profits of a business. 

If you have a knack for problem solving and analytical thinking and a flair for technology, you could graduate into a business analyst role. It would be immensely beneficial to have a great understanding of the domain in which the company operates. For example: a great understanding of banking can help you to become a business analyst in a bank or in an IT company with a bank as its client. You may also be in-demand with fintech and payment companies. 

While no amount of reading can substitute relevant work experience, listed below is a curated list of 5 books that can enable business analysts to accelerate their growth. For a budding business analyst, it may be just what you need to kick-start your career as a business analyst. 

Book 1: Business Analysis Body of Knowledge (BABOK) guide – Published by International Institute of Business Analysis

BABOK Guide is a bible for any business analyst. It is a must-read to understand the benchmarks in business analysis. It covers all areas of work that a business analyst is likely to undertake during his job. 

The book covers perspective on agility in business analysis, the role of information technology, business intelligence, business architecture, and management of business processes. The book has elucidated concepts of business analysis, areas of knowledge that the analyst must acquire, and the competencies that he must hone to improve as a business analyst. The book also covers in detail over 50 techniques that enable a business analyst to thoroughly analyse a business. The BABOK guide has been updated multiple times, so do ensure that you grab the latest copy before starting to read it. 

Book 2: Agile and Business Analysis, By Debra Paul and Lynda Girvan

From a linear ‘waterfall’ model of development, digitalization has shifted focus to an agile model of operations. An agile model helps companies to build new-age digital/ mobile-first applications from scratch and take it to the market (customers) fast. 

Business Analysts with knowledge of agile methodologies and experience at handling projects that work in agile mode are invaluable. 

This book is not only a great introduction to ‘Agile,’ but also a great playbook for you to understand and adopt an agile framework. As a business analyst that is equipped with understanding of ‘Agile’ methodologies, he/she can contribute to enhancing the experience of both internal stakeholders (business users) and external stakeholders such as customers, regulators etc. A Business analyst who is well-versed with agile is strategically placed for companies (especially with IT at its core) to make well-informed business decisions and create an immersive digital experience for all relevant stakeholders. 

Book 3: Business Analysis Agility: Solve The Real Problem, Deliver The Real Value, By James Robertson and Suzanne Robertson

The authors have again emphasized on the use of agile techniques to shorten the time taken to deliver value to the customer. This means that the techniques mentioned in the book will help the company to analyse information faster and make decisions swiftly. 

The book offers a framework to solve problems (especially customer problems) very fast. It gives ideas on converting the problem into an opportunity to offer value. 

Any business analyst (experienced or a rank fresher) can easily understand the content in the book. The authors have emphasized on using story-telling methods and narratives to enable analysts to focus on customer solutions. The book offers a framework which can be practiced easily for success as a business analyst.

Book 4: How to Start a Business Analyst Career, By Laura Brandenburg

Firstly, the author Laura has learnt her ropes in editing and publishing before having moved into a business analyst role. Her own career path and experience form the basis of this book that has enabled many young students straight out of MBA or PGDM courses to become successful business analysts. 

The author lays emphasis on the fact that a business analyst can directly come into the managerial tier from a completely different industry type, domain, or primary skill set just like she did. As many youngsters could vie for a business analyst role, the author’s simple and easy to comprehend book can make the difference between you beating the competition for the coveted role of a business analyst. 

Book 5: Sprint: How to solve big problems and test new ideas in just five days, by Jake Knapp

Author Jake Knapp enables business analysts reading this book to leverage the power of design-thinking to comprehend all factors and enhance probability of success of any new product or idea. It enlists a clear stepwise process that elicits how a business analyst could define a target, arrive at the most feasible solution, create a prototype, and test it.

What’s more; the book will enable a business analyst to do this all in just 5 days and be well-equipped with vital information to gauge readiness for launching a product or innovative idea. 

While there are more books that business analysts must read, the five mentioned above could be a great start. At a junior level, the business analyst role is in high demand and the competition is intense. Any candidate that has read the above books will have an edge over others who haven’t read it. 

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Interesting Career Prospects after completing PDGM or MBA in HR

Human Resources (HR) is increasingly becoming one of the most critical departments of a company. With the proliferation of digital technologies and the services sector in India, human capital has become the most important asset of a company. The companies that can retain the best talent cost-effectively will beat their competition by garnering higher revenues, and profits. In the process, they will also gain market share and start compounding their free cash flows (FCFs). They will be in a better position to reinvest this into the business to enable it to attain scale and operational excellence. 

Hence, human capital management is extremely critical for the growth and sustainability of companies. Onboarding, retaining, and nurturing human capital is invaluable.

A career in human resources can be rewarding, especially in companies that deal in industries such as IT products, IT services, banks, insurance etc. 

Have you Completed your MBA or PGDM in HR?

Here’s a list of career choices that you may want to consider: 

HR Manager: An HR Manager connects the prospective candidates to employers. They oversee and manage the recruitments and address employee grievances and issues. They create the framework for reviews, performance appraisals, and compensation enhancement. They also maintain records as prescribed by the regulatory and compliance authorities. In essence, they supervise the company’s human capital and its requirements from all perspectives. 

However, it would be difficult to start as an HR Manager on the first day at work. You will have to first learn the ropes of the entire HR function before donning the managerial hat.

You are highly likely to begin as an HR Generalist. 

HR Generalist: As the name suggests, this is normally entry level talent, fresh out of an MBA or PGDM course in HR. They must learn to handle multiple HR tasks simultaneously. They get exposure across areas such as: 

  • Candidate screening and shortlisting
  • Interview Process and Onboarding 
  • Employee Induction 
  • Attendance Tracking and Payroll Management 
  • Performance Reviews and Appraisals 
  • Regulatory and compliance-based reporting 
  • Creation of operational reports for the leadership Team with information on key parameters such as attrition, revenue per employee etc. 
  • Employee Engagement and Retention 

As you gradually gain a year or two of work experience after an MBA in HR or a PGDM in HR, you will graduate to more focused roles. A few of these are as below: 

Staffing and Recruitment: 

Technical Recruiter: Their job is to gauge the technical skills of the candidate and understand if he or she is the right candidate for the position. These roles are apt for people who come with technical and domain knowledge and know the process of recruitment too. 

C-Level and Executive Recruiter: Such recruiters come with good communication and interaction skills, and they play the role of recruiting executive vice presidents, heads of department, CXO level leadership etc. 

Head of Staffing and Recruitment: The head of staffing and recruitment works across the entire gamut of recruitment, training, and creation of organizational policies around these areas. In such a role, the person is also in-charge of enforcing the same and ensuring that the best talent is onboarded, retained, and upskilled. 

The next key area is Attendance and Payroll Management. 

After an MBA or PGDM in HR and relevant experience, you could graduate into a manager of attendance and payroll. Such an MBA or PGDM in HR would be responsible for ensuring that the salary roll-outs at the end of the month is commensurate to the attendance of the employee. They would also manage or oversee the leave policy, encashment of leaves, calculation and credit of Provident Fund, and other benefits. They may also be entrusted the responsibility of managing compensations, mapping the employee salary costs, and ensuring that it is within the budget. Employee costs form a critical part of the expenses and keeping a control over it is vital to ensure profitability and growth of a company. 

Employee Relations and Engagement 

A person with MBA or PGDM in HR and relevant work experience may progress in his career to become an Employee Relations and Engagement Manager. Such a professional is responsible for handling and resolution of grievances of employees, resolving disputes between employees, forming policies in areas such as anti-sexual harassment etc. 

They are also responsible for ensuring that the employee morale across the company is high. To do so, they may initiate various celebrations on festival days, run contests for employees, plan team building activities etc. 

Training and Development: 

A company that can generate the maximum value from its human capital will succeed. One of the key aspects of ensuring this is to constantly train and upskill its employees. This can happen with training across new-age technologies, domain, and soft-skills. An MBA of PGDM in HR can graduate into a Training and Development Manager in an organization. They are responsible for identifying the training needs for employees across the organization, creation of training programmes and calendars, and ensuring that all trainings are conducted as per schedule. They may also liaise with external training consultants or organizations to create short courses that can enable the employees in their company to upskill, re-skill, and enjoy seamless career progression. 

Wrapping Up

There is no doubt that an MBA or PGDM in HR is the first step towards handling critical roles that impact the most important assets of a company – its employees. With the right experience and exposure, students with an MBA or PGDM in HR can firstly gain practical experience across all aspects of HR and subsequently hone their skills in one or two of those areas. They will be well-poised to handle a strategic HR role too – which has and will always be in great demand if we have employees coming in to work (or even working from home) every day. 

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How to select the right Business School?

A Business School will help you become the Business Leader you have always wanted to be. However, the question is not what School you should go to, but which one will be the best fit for you. There are different Institutes that offer different courses and specializations. You can narrow that down to fit your criteria, but that still might leave you with hundreds of options to sort through. Therefore, you need to consider your own goals, skills, and career interests before selecting the right Educational Institute for you!

Here are some criteria you should look at:

1) Areas of Specialization

Choosing the right Business School is a critical decision for aspiring MBA students. There are many factors to consider during the selection process, but one of the most important factors is the range of programs and specializations offered. Most Institutes offer a variety of MBA programs, each with a different focus. For example, some Schools may offer an MBA in Finance, while others may offer an MBA in Marketing or Management. It’s important to research the specializations to check if they align with your goals and interests. The MBA specialization you choose will have a big impact on your career trajectory, so search for some great Business Schools in Mumbai that will offer various programs and specializations to choose from.

2) Staff and Faculty

An experienced faculty will always inspire you to lead you on the way to success. Be sure to research the credentials of the Professors and see what kind of experience they have in the field. Also, check to see if the staff is knowledgeable and helpful. They should be able to answer any questions you have about the school or the program and help you with networking. Selecting a Business School is a big decision, and a great faculty can make all the difference. Take the time to research about the staff and faculty of the top B Schools in Mumbai and make the right decision for your future!

3) Talk to the current students

Before enrolling in an Institute, it is important to check the current students at that Institute. This will give you a good idea of the school’s environment and whether it is the right fit for you. There are a few things to look for when checking the current students at a Business School. First, look at the diversity of the student body. It is important to attend a School that has students from different backgrounds. This will help you to learn from your classmates and expand your network. Second, look at the student’s LinkedIn profiles. This will give you an idea of their career aspirations and whether they are actively pursuing their goals. Finally, look at the  job placement record. This will give you an idea of the school’s success in helping students find relevant jobs after graduation. By connecting with the current students at the top B Schools in Mumbai, you can get a good sense of the Institute!

4) Location and cost

The location of the Business School is an important factor to look at. If you want to stay close to home, then select a School in a convenient location. If you are willing to relocate, consider the cost of living in the area and the job market in the region. Another important factor to consider is the tuition fees of the schools you are considering. Check the yearly fees and other miscellaneous expenses and compare the final amount with your budget. There are some reputed Business Schools in Mumbai that offer scholarships and other resources to help prospective students! Do keep an eye on them as well.

5) Placement opportunities

Before selecting the right Business School, it is important to review the placement opportunities of the school. The placements may vary depending on the location, size, and type of School. For example, a small School may have fewer placement opportunities than a renowned Institute. And a School that specializes in a particular type of Business may have more placement opportunities in that area than a School that does not specialize in that area. Thus, it is important to understand the placement opportunities of the school before deciding. You can visit their website and go through the placement details!

Choosing the right Business School is no easy task. Keep in mind the parameters mentioned above to easily get into your dream School. Don’t forget to check out some great Business Schools in Mumbai and make the best decision for your life!

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MBA vs PGDM in Niranjanlal Dalmia Educational Society

Introduction

Niranjanlal Dalmia Educational Society successfully operates three educational institutes that are the centers of learning. Since 1991, N. L. Dalmia High School has provided quality education and better opportunities to children for their grand visions in life. The Niranjanlal Dalmia College of Arts, Commerce and Science is a well respected institution of higher learning. Niranjanlal Dalmia Institute of Management Studies and Research, established in 1995, continues the legacy of providing top-quality education to students looking for a prosperous career.

The Niranjanlal Dalmia Institute of Management Studies and Research College, Mumbai, is a well-reputed and praised management institute. The PGDM program offered by the institute has numerous students enrolled from across the nation.

 

What is MBA – How it helps students and specializations involved

MBA or Master of Business Administration is a 2-year program focused on developing the skills needed for opportunities in business and management. It is one of the popular management degrees, both nationally and internationally. MBA courses impart fundamental management knowledge to the students. This management degree gives a broad perspective of the practical scenario of a business and helps in developing leadership skills. It offers students the opportunity to specialize in areas they want to grow. MBA specializations in finance, entrepreneurship, marketing, business strategy, business marketing, etc.

 

What is PGDM – How it helps students and specializations involved

PGDM, or we can say, Post Graduate Diploma in Management, focuses on training students about business techniques. It is a 2-year course, which furnishes students with knowledge of essential management to industrial skills. It helps in developing practical industrial knowledge of management which is more market-oriented. Case studies and seminars are an integral part of the course to get a good view of the industry. In addition, there are many specializations for PGDM, including marketing, finance, HR, business analytics, supply chain management, etc.

 

Difference between MBA vs. PGDM

After completing graduation, many students face choosing between an MBA and PGDM. The main reason for their confusion is not having accurate information about both courses, their differences, scopes, and their vision about the career. So, let’s take a short tour of the key differences between both classes so that the students make their decisions wisely.

  • MBA is a degree-oriented program; on the other hand, PGDM is a diploma course.
  • The curriculum of MBA gets its approval from the university. It contains mostly theory and is almost the same in every other institute affiliated with the same university. In contrast, PGDM is an industry-oriented program, which means that it focuses on developing soft skills and the skills needed in the industry along with the .
  • The MBA is accredited by the UGC, whereas AICTE accredits PGDM.
  • If we talk about fee structure, the fee of MBA programs is relatively lower than the PGDM program. The PGDM fees lie on the costlier side, more like an investment.

The main difference between MBA and PGDM is the learning approach. Both programs are oriented towards different goals.

 

Why study PGDM from N. L. Dalmia Institute of Management Studies and Research

Niranjanlal Dalmia Institute of Management Studies and Research has maintained its legacy for more than 25 years. The PGDM program from Niranjanlal Dalmia Institute of Management Studies and Research is one of the country’s best programs. Also, the previous students have verified numerous times how delightful the experiences they had while studying in the institute. The comprehensive curriculum simplifies students’ learning so that they get ample time for each topic. They also learn industry-relevant skills simultaneously.

The faculty in the institute are well versed in their teaching. They create a learning environment for all the students, encouraging everyone to improve their hold on the subject. Before enrolling any professor for a course, the institute takes the proper assessment and trains them to provide the best to the students. On top of that, the institute also organizes many value-added programs, seminars, and certifications to enrich the student’s knowledge. Finally, the institute invites industry professionals for guest lectures, workshops, and projects. This allows students of the PGDM program to network with them and learn from the best. In addition, the students get corporate understanding, good exposure and it helps them in future. This overall development allows students to get good placement. All the students of PGDM batch 2020-2022 secured 100% placement successfully, despite the global pandemic.

 

Conclusion

Whether MBA or PGDM, it is essential to choose the right program for yourself. Every right step toward a career can help students achieve their goals. If you want to study business well, approaching an MBA degree is wise. But, if you need to gain industry knowledge, then opting for PGDM will be fine. According to the specialization, students can land a job as an HR manager, marketing manager, investment banker, financial advisor, project manager, data scientist, and consultant. Of course, one should choose wisely according to the job they want.

Content Sources :- N. L. Dalmia

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New possibilities of MBA aspirant

These days many students are going for MBA after graduation. Students consider MBA as their dream maker. They want to pursue MBA because they understand it as a path of:-

  1. Getting a jump in salary
  2. Getting a promotion
  3. A better work profile
  4. Enhancing knowledge
  5. A broad network
  6. Starting and growing their own business

An MBA aspirant’s all future possibilities depend on his specialization. An aspirant can pursue MBA/ PGDM, Executive MBA/ PGDM, Distance MBA, Online MBA, Part-Time MBA, etc. An aspirant can consider any specialization among the following to pursue:-

  • Human Resources (HR)
  • Finance
  • Sales and Marketing
  • IT and Systems
  • International Business
  • Healthcare and Hospital
  • Business Analytics
  • Entrepreneurship
  • Operations

Every specialization has its unique opportunity so an aspirant should know all the possibilities provided after completion of MBA

 

Job Possibilities after MBA in Human resources (HR):-

An HR professional plays a crucial role in organizational structure. It has a tough responsibility to motivate and train employees. An aspirant can go with this and achieve his/her future goal as an HR executive at a firm. He can be an HR generalist or HR specialist. These both have a very important task of:-

  1. Recruitment
  2. Training and Development
  3. Employee Benefits
  4. Coordination with Employees
  5. Payroll Management
  6. Managing Competition

 

Job possibilities after MBA in Finance:-

Finance is also one of the best sectors for MBA aspirants. They can work in different fields like insurance, investment management, taxation, tax planning, etc. Main job opportunities in finance are:-

  1. Financial Manager/Analyst
  2. Credit Analyst
  3. Accounting Manager
  4. Risk and Insurance Manager
  5. Treasurer
  6. Finance Manager
  7. Cash Manager

 

Job Possibilities in sales and marketing:-

This field is the most sounding field in MBA. It has a broad area as well as a network. MBA in Sales and Marketing is always in demand. If an MBA aspirant is thinking of finance as his future career he is on the right path. This field provides job opportunities in retail marketing, banking, hospitality, and many others. Main job profiles in sales and marketing are:-

  1. Brand Manager
  2. Marketing Manager
  3. Market Research Analyst
  4. Sales Manager
  5. Product Manager
  6. Media Planner
  7. Internet Marketing Manager

 

Job Possibilities in IT and systems:-

If an MBA aspirant wants a job with a good pay package, he can pursue his MBA in IT and systems. IT and systems aspirants have the following job opportunities:-

  1. Project Manager
  2. Business Development Executive/ Manager
  3. Product Manager
  4. Marketing Manager
  5. Analytics Manager
  6. System Manager
  7. Data Processing Manager
  8. Business Analyst
  9. IT Manager/Consultant
  10. Information Systems Managers
  11. Systems Analysts

 

Job Possibilities in International business:-

An MBA aspirant who has a dream of a job around the world must pursue MBA in International business.  It provides depth information about export and import, international customs law, market competition running around the world, etc. Important job opportunities after this are:-

  1. Marketing Analyst
  2. Administrative Service Manager
  3. International Business Development Manager
  4. Government Affairs Director
  5. Export Manager
  6. International Finance Manager
  7. Export Coordinator

 

Job Possibilities in Healthcare and Hospital:-

It is the best opportunity for those aspirants who want to play a vital management role. This course teaches ethics, day-to-day operations,decision-making policies, and to perform administration tasks. A Healthcare Management student can get his dream job like:-

  1. Hospital CEO
  2. Hospital CFO
  3. Hospital Administrator
  4. Pharmaceutical Product Manager
  5. Healthcare IT Consultant

 

Job Possibilities in Business analytics:-

Business analytics is a new growing field of MBA these days. So it is creating many new job opportunities. It is the field of analysis. It has the following job possibilities:-

  1. Financial Analyst
  2. Supply Chain Analyst
  3. Management Consultant
  4. Predictive Modeller
  5. Business Systems Analyst

 

Possibilities in Entrepreneurship:-

If you have decided to create your path of success, a student can start your own business after MBA. You learn business ethics, networking, leadership skills, and management. On the other, it also teaches accounting, marketing, and licensing. After finishing the course a student can be:-

  1. Small Business Owner
  2. Corporate Supervisor
  3. Sales Manager
  4. Fundraiser and Development Officer
  5. Business Consultant

 

Job opportunities after MBA in Operations:-

For an MBA aspirant, this is a very popular field. On the other hand, this is also a very competitive area. It has jobs in all industries like IT, e-commerce, manufacturing, and telecom. Students can get job written below after MBA in operations:-

  1. Supply Chain Manager
  2. Logistics Manager
  3. Inventory Control Manager
  4. Project Managers
  5. Operations Manager

 

Conclusion: – After MBA in a specific field will not only boost up the career of a student but also this degree opens many doors of different opportunities.

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MBA or EMBA Which one’s right for you

MBA/PGDM or EMBA: Which one’s right for you?

All those candidates who are Aspiring to pursue any management course in Mumbai then have a lot of options to choose from. There are various MBA institutes in Mumbai to select. Although there are several opportunities for management graduates still there is confusion among candidates about which management course is right for them. However, it has also been noted that all the management courses are different in terminology, so they offer other course structures according to a diverse syllabus pattern. 

Among different business schools in Mumbai, the two most popular MBA programs include post-graduation diploma in management and executive MBA program. If you are confused between these two programs that which one to choose, you must know the difference between these two courses. 

 

What is PGDM?

Post-graduation diploma in management, which is popularly known as PGDM, is a management program having a course schedule of 2 years where students are taught different practical leadership skills so that they will be designated as senior managerial level post other organization and corporate. After pursuing this management program, the student will learn various leadership skills and administrative and executive skills as this program is known for imparting practical management knowledge to the students. 

In the first year, students need to learn management basics, and all the subjects are identical. Still, in the second year, the students are given an option to choose their respective field in which they want to get specialization to get in-depth knowledge of a particular subject within a year. Therefore, PGDM is the best option for those students who wish to learn practical heels and are very eager to hold a manager-level position incorporates and who want to learn business skills and explore new opportunities. 

 

What is an executive MBA?

Executive MBA, popularly known as executive masters of Business Administration, is a program specifically designed for working professionals. It is a one-year management course offered by various business schools of Mumbai that attract working professionals from different industries, including the public sector, private organization, medium-sized companies, and family businesses. 

EMBA or Executive MBA is designed for individuals who want to gain more knowledge about leadership skills and want to hold the upper-level position in their existing organization or want to be placed in a top management organization. All the people who scope for executive MBA must have the working experience to pursue this course. Almost every business school that office an executive MBA has the criteria to give admission to those individuals who only have a solid working background or have the sound working experience to pursue EMBA. 

 

Admission criteria

Admission criteria for PGDM and executive MBA are different. If the candidate wants to pursue a PGDM course, he will get admission to top business schools based on his sport in various competitive entrance exams carried out across the country. On the other hand, for pursuing an executive MBA, you don’t need to find any competitive exam, but you should have substantial working experience along with good soft skills to pursue this course. This means that a candidate does not need to have any working experience for pursuing PGDM, but to carry out an executive MBA course, the aspirant must have at least 2 years of working experience. 

 

Which one is better?

PGDM and executive MBA courses have their advantages, so you will select which path to choose depending on your need. The courses PGDM and executive MBA are designed for those candidates who want to gain practical knowledge in the management field. PGDM is a program pursued by both working professionals and graduates having no experience, but to pursue an executive MBA, it is mandatory to have 2 years of working experience. There are various businesses in Mumbai that are offering both programs. 

Among all the schools, NL Dalmia Institute of Management offers management courses to candidates across the country, and you can choose your desired course in MBA provided by them. Depending upon your needs and requirements, you can select your desired force as both forces are known for providing practical skills to the candidates. After pursuing this course, you will be able to get in-depth knowledge about leadership skills and other managerial skills. 

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MBA marketing degree voice of business

MBA marketing degree voice of business 

In recent years master of Business Administration degree is gaining a massive advantage as all the organizations require professionals with having a solid base of management to hold desired positions. Among various specializations, an MBA in marketing is said to be one of the most fashionable specializations demanded by multiple organizations, as marketing is the course area of business that helps any organization flourish. In this paper and rolling yourself in an MBA program from Business School in MBA is one of the most convenient ways to advance yourself in the career of Management and Secure long-term returns from it. 

 

MBA in Marketing helps to provide a competitive edge

If you hold only a graduate degree, it would be difficult for you to hold the desired position in Big organization dreamt of. if you want to earn advancement in your career to work hard for that. Different young professionals complete a lot to get promoted and position themselves as the best candidate. For that, they need to require additional education in management degree. With an MBA in marketing degree, you will differentiate yourself from the crowd by creating a great understanding of your marketing skills. 

 

Achieve higher compensation

According to various research, it has been finding out that all those people having an MBA degree in marketing a likely to earn 50% higher starting earnings than usual and also continue to earn about 80% more than their peers if they position in a higher position at the organization. This research suggests that if you hold an MBA degree in marketing from one of the prestigious institutes in Mumbai, NL Dalmia Institute of Management you will be able to secure a higher position and achieve higher compensation with your degree. 

 

Higher job satisfaction

After completing your MBA in marketing, when you are placed in any organization and see how your efforts contribute to the betterment of business, you will be satisfied with your job. It is seen that marketing professionals advance in their areas and often aspire to influence a lot at work, so they are always keen to see how their efforts and contribution provides advantage and profit to the organization by increasing its overall revenue as it is also a source of motivation to them to work in a better way. Hence after pursuing an MBA in marketing specialization, you will achieve greater job satisfaction at work. 

 

More employment options

With an MBA degree in marketing, you have a lot of opportunities to get employed in different organizations ranging from Healthcare organizations, Financial Services, Hospitality Services, and many more. It was also so that marketing professionals work on ethical standards. They would also don’t mind accepting a lower salary for the business that incorporates social responsibility into their business model. They do so because most marketing professionals work on ethical standards, and with their efforts, they want to contribute to society. This is the reason because of the dedicated services they have more employment options to work in different organizations. 

 

Stimulating challenges

If you or someone are aware of the marketing industry, you should know that this discipline is quite complex. To become successful in marketing, to should have specialization and experience in different areas, including content marketing, market research, retail marketing, or brand Communications. So being a successful marketing professional, you should always be ready to stimulate challenges that come your way. And to stimulate the challenges, you must have good background knowledge of marketing that you can process by completing your professional degree in management or MBA in marketing from various Business School in Mumbai that offers an MBA in marketing degree. 

 

To become successful in business, you must have poses MBA degree as they teach theoretical and practical knowledge regarding management of the different areas. Especially you need to possess experience in marketing because it is the diverse field of specialization required by every organization to gain the most advantage from the business. So to gain management knowledge, you need to have completed a post-graduation course in management. The ideal course for this is an MBA in marketing which you can pursue from NL Dalmia Institute of Management as it is one of the most renowned management Schools in Mumbai. 

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What a Career as a Tax Auditor Looks Like

Do you have a career goal of becoming a tax auditor? The role of a tax auditor is very important from a business perspective. Proper training, certifications, and project experience are essential. The position is high-end in nature, with tons of responsibilities. 

 

A financial job

The tasks of a tax auditor are essentially financial in perspective. Completing a PGDM Finance course from a renowned management college, such as N. L. Dalmia Institute would be the right step to accomplish your goal. The financial expertise helps you significantly in getting a corporate job.

 

Different from an accountant’s job

Keep in mind that the job responsibility of a tax auditor is markedly different from the job of an accountant. An accountant prepares the financial records and oversees the bookkeeping operations of a company. On the other hand, a tax auditor examines and attests to the financial records of the company. 

 

Designations you may get

Before discussing at length about various tasks of a tax auditor, know about the probable professional designations you get after completing an MBA from a Top B School in Mumbai like N. L. Dalmia Institute. You can be recruited in the position of an Audit Manager / Internal Audit Manager. You might also get a designation titled ‘Senior Auditor’. 

 

Half-yearly audits

At the end of September, a half-yearly audit process takes place. You have the duty to thoroughly check the accounts and locate errors if any. Also, you need to prepare a detailed report on your findings. 

 

Yearly audits

Yearly audit procedures are more hectic compared to the half-yearly ones. An annual audit process is more comprehensive in approach. You need to be more meticulous in the application of your expertise. Also, you have to apply some time management skills picked up from the MBA classes in order to finish the work fast.

 

Collaborating with various departments

In cases of an internal audit, you have to collaborate with senior executives of various departments of the concerned company. There would be meetings with the management. You can prepare conclusive reports only after you are convinced about the relevant bookkeeping details of the business.

 

A strong grasp of numbers

It is obvious that as an auditor, you need to possess strong quantitative skills. In most of the stages of your job, you have to encounter situations where your grasp of numbers would be helpful. Specialization in Finance from a top management school teaches you such skills.

 

Revising financial documentation

Merely going through the financial documents of the company once is not enough. You have to be very sure about what the records reflect. There is a mandatory step, within the regulatory framework, of revising the documents.

 

Corresponding with higher authorities

You would also have to shoulder the duty of frequently mailing and calling senior officials of your company. You might have to correspond with the government tax department, too. Keeping the seniors informed about the progress of the audit is a major part of the job.

 

Graphical Analysis

As an auditor, it is your duty to perform a graphical analysis of various movements of financial parameters, related to the growth, stagnancy, or decline of the business. It is almost like a daily routine. You have to enquire further details on this matter with the department heads of the company.

 

Checking duplicity, redundancy & other anomalies

It is very crucial to minutely check the accounts of the company. On a regular basis, you have to locate duplicity of records. Some of the bookkeeping entries might be redundant, too. Moreover, there could be other technical anomalies in the records. Your task is to point out those.

 

Preparing reports

It is a frequent task of an auditor to prepare reports on various audit procedures. You have to formally organize the financial findings. The reports essentially contain evidence and explanations related to the findings. You submit the reports to the concerned authorities.

 

Are you ready to become a tax auditor?

Are you serious about getting involved in tax auditing jobs? Aim to get admission in a well-known management institute, preferably in the Finance-Hub of India, Mumbai. The megacity provides you numerous opportunities to be hired as a tax auditor. Prepare a robust plan for your career.

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Can an MBA college enable you to transform a lightbulb moment into a business idea?

N. L. Dalmia has shaped my personality in many ways. I learnt the best of HR subjects from amazing faculty members and the overall ecosystem helped me in becoming a better person.

When I entered the industry to start working, I already had a head start in HR concepts, thanks to the specialized HR batch. Additionally, we were provided with well-rounded development through assessment centres, IR case laws, personality development camps, college festivals, national level paper presentations and multiple sessions by industry stalwarts. I feel proud and grateful to have been associated with this institute. The conceptual and life learnings have shaped my career and more importantly my personality.

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Organization: Amazon Development Centre India Ltd

Name: Ravishankar Kale
Phone: + 91 8956058483
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