MBA Full Form, Meaning, Syllabus, Fees, Admissions, Course Duration, Colleges, Jobs and Scope in 2024 | HITS

About MBA 

The Master of Business Administration (MBA) is a prestigious postgraduate degree popularly opted by the majority of students worldwide. Originally conceived in the United States in the early 20th century, the MBA course has since become a globally recognised and respected qualification.

Currently, there are about 16,563 business schools offering a wide range of MBA programs, including various MBA specializations and integrated courses. It is one of the fastest-growing education markets in the world with a valuation of 47.1 billion US dollars and is projected to increase to 83.08 billion USD by 2032. 

There is a significant and rapidly increasing demand for skilled MBA professionals in business, management, and leadership. Studying for an MBA degree offers numerous career advancement opportunities with high salary potentials in today’s business-driven world. 

Hindustan Institute of Technology and Science opens admissions for a wide range of UG and PG courses, including MBA, BBA, Engineering Technology, Arts, and Pure Science courses. 

Interested students can apply for admission through the official website. For more information and to submit your application, visit the HITS admissions page.

What is MBA?

An MBA, or Master of Business Administration, is an accredited postgraduate degree designed to develop advanced business and management skills. The primary aim of an MBA program is to equip students with a universal understanding of business principles and practices. 

MBA courses cover a broad spectrum of subjects, including finance, marketing, operations,  strategic management, etc. These MBA subjects offer a diverse curriculum for graduates to be well-prepared to tackle complex business challenges and lead organizations effectively.

Why MBA? 

Pursuing an MBA degree offers significant career opportunities, with 91% of employers planning to hire MBA graduates, according to the 2023 GMAC survey. It enhances earning potential, with a median starting salary of $115,000 for MBA graduates and $75,000 for bachelor’s degree holders. 

The MBA course develops crucial skills like leadership and strategic thinking, valued by 94% of grads according to the Association of MBAs (AMBA, 2023). Moreover, 85% of jobs filled through networking are students with MBA programs and specializations (LinkedIn, 2023). 

It is evident from these data that pursuing an MBA degree not only equips individuals with essential skills but also enhances their career prospects and earning potential. 

Learn about the best courses to study at university in 2024 for a promising career. 

Best Country to Study MBA 

The popularity of MBA courses has soared globally, with countless students eagerly enrolling in these programs each year. The scope of an MBA is vast, offering various career goals and industry demands globally. 

Currently, there are about 10,000 accredited business schools worldwide, with an increasing number of students joining every year. Some of the best countries to study MBA include India, the US, the UK, and Canada, which offer a wide range of MBA courses and student-friendly programs.

1. India: Known for its robust education system, India boasts some of the best MBA colleges with specialized MBA programs. The country's dynamic economy and growing business hubs make it the best place to do an MBA in the world for many students.

2. United States: Home to renowned business schools like Harvard, Stanford, and Wharton, the U.S.A.’s vast business landscape and numerous multinational companies provide excellent career prospects for MBA graduates.

3. United Kingdom: The UK's prestigious institutions like London Business School and Oxford's Saïd Business School offer shorter and intensive one-year MBA programs for students.

4. Canada: Canada is a favoured country for students to pursue master's degrees. The country’s welcoming immigration policies and strong economy provide excellent job opportunities for MBA post-graduates.

5. Australia: With top schools like Melbourne Business School and the Australian Graduate School of Management, Australia is a popular country to study MBA.

MBA Course Details 

Popularly known as management courses, MBA spans as a two-year postgraduate programme covering a wide range of subjects, including finance, marketing, operations, human resources, and strategic management. These MBA courses equip students with the knowledge, skills, and expertise to excel in the dynamic world of business and management.

MBA programs employ various teaching methods to cover a broad spectrum of subjects,  including traditional classroom lectures, engaging case studies, collaborative group projects, and hands-on experiential learning. 

Topics such as business ethics, organizational behavior, economics, data analysis, and decision-making incorporated with incorporated internships, exchange programs and networking opportunities are areas covered under the MBA curriculum. 

Types of MBA Courses 

MBA courses can be pursued in the following modes - Full-Time, Part-Time, Online and Distance-Education. Each mode offers a distinct course duration, curriculum and syllabus. 

Full-Time MBA A two-year program ideal for those committed to intensive learning, offering a comprehensive curriculum and networking opportunities for career advancement.

Part-Time MBA Tailored for working professionals, these programs provide flexibility in scheduling, allowing students to balance work and education through evening, weekend, or online classes.

Executive MBA (EMBA) Designed for mid-career professionals, EMBA programs focus on leadership development and career acceleration, featuring a condensed curriculum and intensive coursework.

Offering flexibility and convenience, online MBA programs allow students to study remotely, accessing course materials at their own pace from anywhere in the world.

Dual MBA Programs Combining an MBA with a Master's in another discipline, students can earn two degrees simultaneously,

MBA Specializations 

MBA specializations allow tailored education, with 72% of students choosing programs for this reason (Princeton Review, 2023). 

Master of Business Administration (MBA) programs provide students with the opportunity to specialize in various fields of business, allowing them to focus on their specific field of study and gain expertise. 

Here's a detailed overview of the MBA course list and its specializations in India,

Finance

MBA specializations in finance focus on financial management, investment analysis, corporate finance, and financial markets. Students learn to analyze financial data, make strategic investment decisions, manage risk, and optimize financial performance.

Marketing 

MBA programs with marketing specializations cover topics such as market research, consumer behavior, branding, advertising, digital marketing, and product management.

The demand for marketing managers is projected to grow 10% from 2020 to 2030, according to the U.S. Bureau of Labor Statistics.

Entrepreneurship 

MBA entrepreneurship prepares students to start and manage their own businesses. Coursework includes topics such as business planning, venture capital, startup funding, innovation management, and small business operations.

According to the Financial Times 2023, 25% of MBA graduates turn into entrepreneurs by starting businesses within three years. They generate a total of 2.69 lakh jobs in the year 2022. 

Human Resources Management 

MBA specializations in human resources management focus on talent acquisition, employee development, performance management, compensation and benefits, labor relations, and organizational behavior. 

The worldwide Human Resource Management market reached a value of USD 30,689.54 million in 2024, according to the Global Human Resource Management Market Report 2024.

Operations Management 

Operations management MBA programs cover topics such as supply chain management, logistics, quality management, process improvement, and project management. Students learn to optimize business operations, streamline processes, and enhance efficiency and productivity.

Healthcare Management 

Healthcare management specializations focus on the healthcare industry where students learn about healthcare policy, healthcare finance, healthcare operations, healthcare marketing, and healthcare informatics.

Hotel and Tourism Management

MBA specializations in hotel and tourism management focus on the hospitality industry, covering areas such as hotel operations, revenue management, tourism marketing, hospitality law, and guest services. 

Sports Management

One of the fastest-growing industries, MBA specializations in sports management cover areas of sports marketing, sports finance, event management, sports law, and athlete management. 

Media and Entertainment

In the current age, a significant number of students exhibit a keen interest in media and entertainment, opting for MBA specializations in media management. 

Students can learn about media economics, content creation, distribution channels, audience analytics, intellectual property rights, and digital media strategies.

MBA Course Duration

The duration of an MBA course varies depending on several factors such as the type of program, the institution offering the course, and the country where it is pursued. 

- Full-time MBA programs typically last for about two years, consisting of four semesters or quarters.

- Part-time MBA programs span over a longer period, ranging from two to four years.

- Executive MBA (EMBA) programs often have a condensed format and can be completed in one to two years.

- Online MBA programs offer flexibility in scheduling, allowing students to complete the coursework at their own pace, typically within one to three years.

Numerous management colleges provide alternatives to the regular MBA degree, such as Post-Graduate Diploma in Management (PGDM), Post-Graduate Diploma (PGD), or Post-Graduate Programme (PGP) in Management, but with reduced scope and recognition. 

MBA Subjects 

MBA subjects are meticulously designed to provide students with a well-rounded understanding of business management principles, strategies, and practices. 

The MBA syllabus typically comprises a mix of core subjects and elective courses. Core subjects form the foundation of the program and cover essential topics such as accounting, finance, marketing, operations management, organizational behavior, business ethics, and strategic management.

The elective courses under the MBA programs cover specialized topics such as entrepreneurship, Human resource management, International Business, IT management, Logistics and Tourism management. 

Also Read: What to Study After 12th? A Comprehensive Guide to Choose Your Path.

MBA Eligibility Criteria

To pursue an MBA course, candidates typically need to meet certain eligibility criteria set by the institution offering the MBA program. While specific requirements may vary depending on the university or business school, here are some common eligibility criteria for MBA programs:

• Candidates must have completed a bachelor's degree from a recognized university or institution. The degree may be in any discipline, although some MBA courses subjects may prefer candidates with a background in business, economics, or related fields.
• Many MBA colleges require candidates to have a minimum percentage or grade point average (GPA) in their UG degree. It varies depending on the institution and program.
• Some of the best MBA colleges also require candidates to take one or more entrance exams as part of the MBA eligibility process. Common entrance exams for MBA courses include the CAT, MAT, GMAT and GRE.
• English Language Proficiency: Students who are interested in pursuing an MBA degree abroad may need to take English language standardized tests such as the TOEFL (Test of English as a Foreign Language) or IELTS (International English Language Testing System).

MBA Entrance Exams 

Entrance exams play a crucial role in the admission process for MBA (Master of Business Administration) programs, helping institutions assess the aptitude, analytical skills, and suitability of candidates for their MBA programs.

Crack your entrance exams with this comprehensive guide on how to prepare for entrance exams after class 12th. 

Some of the common MBA entrance exams conducted in India and internationally include,

1. CAT (Common Admission Test): CAT is a computer-based entrance exam conducted annually by the Indian Institutes of Management (IIMs) for admission to MBA courses and various other management institutes across India.

2. MAT (Management Aptitude Test): MAT is a national-level entrance exam conducted by the All India Management Association (AIMA) for admission to MBA and allied programs offered by business schools in India.

3. GMAT (Graduate Management Admission Test): GMAT is an international standardized test required for admission to MBA programs offered by business schools worldwide.

4. GRE (Graduate Record Examination): GRE is a standardized test used for admission to various graduate programs, including MBA programs. The exam assesses candidates' verbal reasoning, quantitative reasoning, and analytical writing skills.

Also be familiar with the MBA entrance exams, provided by your chosen MBA institution including the exam pattern, syllabus, and preparation to maximize your chances of success. 

MBA Fees 

The cost of pursuing an MBA degree largely varies on the institution, program type, location, and duration.

The average MBA fee structure at top MBA colleges in India ranges from around Rs 20 lakh to Rs 25 lakh, with a minimum average fee of around Rs 50,000 to Rs 4 lakh per year.

Scope of MBA 

The scope of an MBA is vast and multifaceted, offering numerous opportunities and benefits across various industries. MBA graduates enjoy increased job security, with a 30% lower unemployment rate (BLS, 2023).

MBA graduates often secure leadership roles, benefit from increased earning potential and gain valuable networking opportunities. The GMAC 2022 reports state that 88% report significant personal growth, making the MBA a versatile and valuable degree with numerous opportunities.

MBA Jobs 

The high demand for MBA graduates, as indicated by the 91% employer acceptance rate (GMAC, 2023), underscores the importance of this qualification in today's competitive job market.

Common career paths for MBA graduates include roles in finance, such as investment banking, financial analysis, and corporate finance. In marketing, they can pursue positions like brand manager, marketing director, and sales manager. The consulting sector offers roles such as management consultant and strategy consultant. 

Operations management, human resources, and entrepreneurship are also popular fields. Due to the versatility of the MBA courses, graduates can also find opportunities in emerging sectors like technology, healthcare management, and supply chain management. 

MBA Colleges 

India boasts a vast array of best MBA colleges, comprising both government and private institutions. There are over 500 government MBA colleges, including prestigious institutions like the Indian Institutes of Management (IIMs), renowned for their rigorous academic standards. 

Additionally, there are about 3,000 private MBA colleges like the prestigious Hindustan institution that offer a diverse range of specialized MBA programs and boast robust placement records. 

Top MBA Colleges in Chennai - Hindustan Institute of Technology and Science

Among the best MBA colleges in chennai, Hindustan Institute of Technology and Science stands out as an excellent choice for an MBA program in India, known for its excellence in management education. 

Accreditation and Recognition

HITS is accredited by the National Board of Accreditation (NBA) and is recognized by the All India Council for Technical Education (AICTE), ensuring high academic standards and credibility.

Experienced Faculty with Industry Background 

The MBA program at HITS is delivered by a team of highly qualified and experienced faculty members who bring a blend of academic rigor and industry experience to the classroom.

Immersive Learning Experience

HITS boasts modern infrastructure with well-equipped classrooms, advanced computer labs, a comprehensive library, and various research centers that provide an enriching learning environment for students.

Industry Connections and Placements

The institute has strong ties with industry leaders and offers excellent placement opportunities. HITS maintains a robust placement cell that facilitates internships and final placements with top companies across various sectors.

Outcome Based Curriculum

The MBA curriculum at HITS covers a wide range of subjects including finance, marketing, human resources, operations, and entrepreneurship, providing students with a well-rounded education.

Global Exposure

HITS offers international exchange programs and collaborations with foreign universities, giving students exposure to global business practices and enhancing their learning experience.

Extracurricular Activities 

The institute encourages student participation in various clubs, seminars, workshops, and events, fostering holistic development and leadership skills.

Startup Ecosystem with TiE and CII

HITS fosters an entrepreneurial spirit among its students through its vibrant startup ecosystem, in collaboration with organizations like TiE (The Indus Entrepreneurs) and CII (Confederation of Indian Industry). 

MBA Specializations at Hindustan 

The School of Management at Hindustan offer the following MBA  programs, 

• M.B.A Aviation Management
• M.B.A Aviation Safety Management 
• Master of Business Administration 

Specializations: 

• Finance, Marketing, HR
• Hotel and Tourism Management 
• Hospital Management 
• Logistics Management 
• Media and Entertainment 
• Sports Management 
• Business Analytics (IBM collaborated) 
• Green Business

Be an early bird and secure your seats by applying for the above-mentioned MBA programs at Hindustan, today! 

MBA Admissions at Hindustan 

Here's an overview of the MBA admissions process at HITS:

1. Eligibility Criteria: Candidates applying for the MBA program at HITS must meet the following eligibility criteria:

- For the general MBA program, applicants must have a minimum of 50% in their bachelor's degree from a recognized university, with a duration of three years.

- For specialized programs like MBA in Aviation Management, eligibility extends to candidates with 50% in bachelor's degrees such as B.Com, B.B.A, B.Com (Corporate), BISM, B.Sc. (Maths), B.Sc. (Physics), B.A (Economics), B.E., B.Tech., AMIE, AMAeSI, or BCA.

- Qualifying scores in national-level entrance exams such as CAT, MAT, XAT, CMAT, or any other equivalent exam is also recognized by HITS.

2. Application Process: Prospective candidates can apply for MBA admissions at HITS through the institute's official website or offline mode by obtaining the application form from the admissions office. 

The application form must be filled out accurately and submitted along with the required documents and application fee within the specified deadline.

Finding it hard to apply online? Discover an easy process for online application of colleges.

3. Selection Procedure: The selection process for the MBA program at HITS typically includes the following stages:

- Screening of applications based on academic qualifications, entrance exam scores, and other relevant criteria.

- Shortlisted candidates may be called for a group discussion (GD) and personal interview (PI) to assess their communication skills, subject knowledge, and overall suitability for the program.

- Final selection is based on the candidate's performance in the entrance exam, GD-PI rounds, academic background and other relevant factors.

4. Merit-Based Scholarships: HITS offers merit-based scholarships to deserving candidates based on their academic performance, entrance exam scores, and other criteria. 

Scholarship details and eligibility criteria are communicated to applicants during the admission process.

5. Counseling and Guidance: HITS provides counselling and guidance to prospective students throughout the admission process, helping them make informed decisions about their academic and career goals.

6. Important Dates and Deadlines: Candidates are advised to stay updated with the institute's website for information on important dates, admission announcements, application deadlines, and other details related to MBA admissions at HITS.

Read more informative articles related to courses, studies, admissions and colleges on the HITS blog’s page.