Why an MBA is necessary?

We present our readers with an interesting Article written by Mr. Sorabh Bajaj. 

Mr. Sorabh Bajaj has been working as Program Management-Customer Advocasy at Unisys

Mr. Sorabh Bajaj has been working as Program Management-Customer Advocasy at Unisys

Mr. Bajaj has been working as Program Management-Customer Advocacy at Unisys. He is also a Visiting Faculty for MBA Program at MARC School of BUSINESS. To know more about Mr. Bajaj, please click here. Happy Reading !

The coveted MBA degree has different meanings for different people. While most of them simply consider it as an educational qualification required to land in a handsome job offer, for some it stands valid to earn some extra brownie points while moving up the career ladder.

Though the discussion around what MBA means to different people will help us churn out some valuable insights, I would like shed some light on the most basic one – Why  MBA degree? Apart from the educational qualification, have you ever pondered over some pertinent questions – Why our society needs MBA graduates? Why a well designed industry-led MBA course has become even more relevant in today’s modern time?

To help explain this – our ecosystem offers limited resources whether it is time, human resources or raw materials. Economic theories will tell you that the objective of any economic or social activity is to optimally utilize the existing resources in order to maximise the wealth. Thus, our society demands specialised skilled managers who can understand and perform in a highly constrained environment and effectively apply their knowledge to utilise resources efficiently.

Having an MBA degree does not just add another feather to your profile to cash in the perfect job opportunity. It is indicative of the fact that you learn to look at challenges and opportunities more holistically. It gives you an analytical bend of mind to weigh options more comprehensively.  An MBA program equips you with the requisite knowledge and skills to steer your life as a thought leader, and more importantly as a problem solver.

Over a period of time, MBA programs have undergone significant changes both in terms of quality of education and relevant industry exposure. In my opinion, MBA programs must offer a simulated learning environment for students to pick up problem solving abilities – more realistically and practically.

At MARC, we have designed our program keeping in mind the challenges businesses face in the 21st century. Our MBA program helps students realise their potential to fullest as future business leaders. Our students are given opportunities to solve real time business problems as part of our industry-link MBA program. MARC encourages students to conduct research and develop intellectual property as part of student-driven forums.

If you believe that you have what it takes to be an MBA, then we welcome you to this exciting career at MARC family.

ABOUT MARC SCHOOL of BUSINESS

MARC Business School is India’s First & only Business School to offer Company Linked MBA program which works on company/industry recommended skills. Recently, MARC has been ranked 2nd In India (New Generation B-Schools Category)To know more about MARC B School, visit our website http://www.marcbschool.com/ or follow us on Facebook 

Advertisements

A Guest Lecture on Maintaining Ethics at Work by Ms. Sonia Jaspal

In a dynamic world of modern times, the business world is not an easy place to be. There are usual challenges of increasing efficiency, market volatility, intense competition and rivalry etc. Adding to all these, in a more individual level, there are group conflicts, competitive rivalry among individuals, cognitive dissonance and handful of other problems which make a work-place more restrictive in terms of productivity and employee satisfaction. Often, healthy competitions are overshadowed by internal organizational competition leading to dysfunctional setup which creates a long lasting impact on the sustainability of the organization in the long run. And, here comes the essence of maintaining ethics at work.

Ms. Sonia Jaspal has been currently working as a Risk Management Thinker at RiskBoard

Ms. Sonia Jaspal has been  working as a Risk Management Thinker at RiskBoard

Delivering a guest lecture on this gist, Ms. Sonia Jaspal, a Chartered Accountant and certified internal auditor discussed about the darker side of management caused by unethical organizational setup. The lecture was organised at MARC SCHOOL of BUSINESS Campus on 10th of January, 2013.

An experienced professional having 15 years of experience in Ernst & Young, Ms. Jaspal uncloaked the facts associated with destructive management of an organization.  Destructive nature of an organization is usually deeply sowed in the managerial and individual behaviors of senior management and in the board level. Such behavior can be found deep rooted in individuals when they become obsessed with high sense of entitlement, egoistic behavior, low self-esteem and many other factors. Gradually, such negative aspects of behavior inseminate through the organization to a broader level causing abstruseness to the functionality of the whole organization.

Citing a number of examples, Ms., Jaspal gave a pragmatic insight to this problem of unethical behavior in day-to-day business deals. An organizational approach based more on caring and equity based undifferentiated consciousness can bring to it better flexibility in terms of employee efficiency, effectiveness and competitive advantage. Lower self- esteem is a result of presence of higher extent of ego and vice versa and this often makes an individual to indulge in unethical activities to satisfy their egoistic aspirations. There are innumerable benefits of ethical work culture which can be ascertained by market value at any point of time. Ethical code of conduct, if properly implemented, can bring good results in terms of customers’ satisfaction and employee satisfaction as well. Contextually, she also observed the importance of Emotional Quotient (EQ) in contrast to Intelligence Quotient (IQ) which keeps a pivotal role in running an organization smooth and fast in an ethically equipped work culture.

Although internal conflicts in a dysfunctional setup are often visible in the form of aggression, bullying, harassment etc., but often situation arises where such conflicts are not visible and which are more of a psychological in nature.  Psychological pressures arising from difference in personal values from the organizational values are more of cognitive in nature (cognitive dissonance) and organizations can not directly delineate such issues. However, there can be a sense of empowerment which can be embodied in individual level to address problems that cause psychological disintegration from work pressure. Ms. Jaspal also highlighted the importance of Internal Reinforcement System which can contribute towards understanding and appreciation of employee self-empowerment. This internal reinforcement system is based on six personal foundations which can help to adapt to the changing organizational dynamics. These are:

Student Managers at MARC Business School attending the guest lecture

Student Managers at MARC Business School attending the guest lecture

  1. Reconnect to your strength
  2. See the larger field
  3. Define a worthy enough to win
  4. Find your real team
  5. Make positive plays and
  6. Keep your own score

In the interactive session, Ms. Jaspal replied to a number of question raised by the students. The students were overwhelmed to learn about the remarkably distinct and practical implications with destructive management system and its relevance from real life occurrences.

 About Ms. Sonia Jaspal

Ms. Jaspal has 15+ years of experience in providing assurance and advisory services in areas of information systems, finance, processes and operations gained in HSBC, Intel, Ernst & Young and other auditing and accounting firms.  She is currently working as a Risk Management Thinker at RiskBoard. To know more about Ms. Jaspal, please click here

Click here to connect to the blog of Ms. Jaspal on wordpress.

ABOUT MARC SCHOOL of BUSINESS

MARC Business School is India’s First & only Business School to offer Company Linked MBA program which works on company/industry recommended skills. Recently, MARC has been ranked 2nd In India (New Generation B-Schools Category)To know more about MARC B School, visit our website http://www.marcbschool.com/ or follow us on Facebook 

“Understand Economics through its History” – Mr. Jaganathan

Viewing Contemporary Economics through a historic lens can imprint a good understanding of Economics gratifying to inquisitiveness of MBA students.

Mr. Jaganathan is a CA professional having around 18 years of experience. He also authored one book “The Wisdom of Ants”

Mr. Jaganathan is a CA professional having around 18 years of experience. He also authored one book “The Wisdom of Ants”

Such a learning process or methodology is based on a historically investigated approach. The fact that Economic Science and its theories are esoteric in nature is just a myth. A retrospective and scrupulous study based on vivid recurrence of certain economic upshots in the past can give a well-contrived understanding of different economic theories.

Mr. Shankar Jaganathan, a professional Chartered Accountant, Guest Lecture at Indian Institute of Science (IISc) and a well acclaimed author, addressed the students and imparted a good learning on this methodology and its practical entailment in understanding the present economics issues. It was a series of Guest Lecture sessions organized at MARC School of Business and Mr. Jaganathan

addressed the students at one of the sessions on 8th January, 2013. Having a vast work experience of 18 years in Wipro, Mr. Jaganathan also authored one book “The Wisdom of Ants”.

Referring to the wisdom of Ants, he explained how the tiny ants can carry out difficult tasks on the basis of three aspects of accomplishments namely: Taking initiative (Pro-activeness), Disciplined/Altruistic approach and perseverance.  In context to several of Economic concepts which are widely discussed now a day, the ex-cogitations of development of such concepts can be understood by taking the historical development of civilization and subsequent social psyche as a benchmark. Historically, Economics can be unfolded in 3 steps. If we look at the timeline,

1 Million BC when per capita income found to be around $90

10000 BC when Per capita income raised to $92 to $93

1350-1500 BC, per capita income was $140 and

800 BC, per capita income was around $1000.

The rise of income generation can be attributed to overall increase in total production. But what exactly explains the uneven increment of income generation can be attributed to three significant social developments. Firstly, concept of sharing based on equity and ethics was changed and private property ownership concept came up. In fact, in ancient times trading and doing business was considered to be unethical as it goes against the social norms based on equity and ethics. The second factor was the social sanction of self-centered behavior that is, an individual has the right to protect self-interest. Third reason was development of utilitarian concept which allows a person to believe that material consumption can be a measurement of happiness. In this ongoing process, the science of economics was gradually developed. In fact, Adam Smith’s famous book “The Wealth of Nations” which is considered as an elementary elaborative work on basics of Economics is based on the assertion “Self-Interest is goal”.

Mr. Jaganathan also shed some light on two important instruments of Economics: Monetary Policy and Fiscal Policy. The basic difference between these two instruments can be explained from two contrasting theories of Economics. Fiscal policy focuses on demand side of economics which is more like an accelerator running the economy by looking at the demand side. However, monetary policy is like a brake which looks on the supply side of Economy by controlling the money supply. Both the concepts were developed on the basis of various economic crisis that happened in the past (Example: The Great Economic Depression, Dot-Com bubble and sub-prime crisis etc.)

He also illustrated how the Economy of a nation can be compared to different parts of an automobile vehicle. Dashboard of a vehicle can be referred to the economy, GDP growth is like a Speedometer, Inflation can be compared with the temperature gauge of an automobile vehicle, and different business cycles are like gears used time-to-time. Unemployment is the potential for acceleration or gap to maximum speed limit.

Student Managers at MARC Business School attending to the guest lecture

Student Managers at MARC Business School attending to the guest lecture

Referring to major debates in economy, Mr. Jaganathan also pointed three important points that are underlying to such debates,

1)      Personal Property: A Right or Theft?

2)      Self-centeredness    : A boon or a bane?

3)      Supply creates demand or demand creates supply?

Contextually, he also illuminated the ongoing economic theoretical development that had a profound impact in the recent US election, namely, Saltwater Economics (by Economist Paul Krugman) and Sweetwater Economics (by Economist Ben Bernanke). Talking about Indian Economy, he asserted that the presence of a huge youth population in India is a good sign for Indian Economy and its future.

It was a very interactive session and the students were overwhelmed by the well-articulated, apprehensible and distinctly interconnected theories of Economics.

ABOUT MARC SCHOOL of BUSINESS

MARC Business School is India’s First & only Business School to offer Company Linked MBA program which works on company/industry recommended skills. Recently, MARC has been ranked 2nd In India (New Generation B-Schools Category)

*To know more about MARC B School, visit our website http://www.marcbschool.com/ or follow us on Facebook