Indian Institute of Management -IIMs in India
One of the most sought after courses India today, at the postgraduate level, is management. Management education has now become so popular among young individuals that today everyone wants to pursue an MBA or PGDM degree and the best option to get one is through the prestigious Indian Management Institutes or the IIMs, The IIMs are not only the best management institutes of India but of the world as well. Excellent faculty, rigorous course structure and pedagogy and placement opportunities of successful students contribute to the fact that IIMs have become the most sought after management institutes of the country. IIMs are declared as institutions of national importance after the passage of Indian Institutes of Management Act, 2017. The biggest benefit has been the ability of these institutes to grant degrees to their graduates which many students and alumni had been demanding for long.
Apart from academic excellence, a higher return on investment (ROI), and numerous opportunities offered to students not only through academics but also with respect to extra-curricular activities, IIM fests, b-school competitions etc. also attract a large number of candidates to compete for admissions at IIMs of the country.
Programmes Offered by the IIMs in India
The IIMs are registered under Indian Societies Registration Act and are autonomous in their operations. The HRD Ministry has only partial say in the functioning of IIMs. The IIMs are best known and rated for their two-year full-time PGDM/PGP courses, which are considered equivalent to MBA. The IIMs offer various programs in management, and these include:
Full-time Post Graduate Program in Management (PGP)
Post Graduate Program in Management (PGP) is the flagship program of all the IIMs. It is a two-year full-time Post Graduate Programme in Management (PGP), equivalent to a Master of Business Administration (MBA) degree.Since 2018, most IIMs have started granting MBA degrees for this flagship program.
This programme is usually spread over two years, starting in June and running until April of the second year. The first year coursework generally consists of core courses in various management disciplines, while in the second year students are allowed to select courses from an exhaustive list of electives. The coursework includes courses in accounting, behavioural science, finance, economics, human-resource management (HRM), management sciences and information technology, marketing, business operations, business mathematics, public policy, statistics and decision analysis, strategy, and general management.
Executive Management Programme
Many IIMs offer executive education-certificate programmes targeted at working professionals. These are often short-term or part-time programmes and are known by various names such as Management Development Programme (MDP), Advanced Masters Program in Management of Global Enterprises (AMPM), and Executive General Management Programme (EGMP). Some programs are designed specifically by the faculty while some are customised.
Fellow Program in Management
IIMs offer a Fellow Programme in Management (FPM) which is a full-time doctoral-level programme in management. The objective of the program is to encourage scholars to carry out research in the field of management, leading to publication in internationally reputed research journals and finding solutions of real world management problems. The programme consists of three stages:
- Comprehensive Exam and Viva Voce
- Thesis Work
Five-year Integrated Programme
IIM Indore and IIM Rohtak offer integrated programs (Integrated Programme in Management) which spans across five years where students an join after completing class 12. It is a comprehensive management program that has a combined course of management studies from under-graduate (UG) to postgraduate (PG). Programme aims at molding the outstanding young students managerial and leaders.
On successful completion of academic rigor of 5 years, the participant will be awarded with Master of Business Administration (MBA) by IIM Rohtak. If any student intends to exit after successfully completing the programme requirement at the end of 3 years, he/she will be awarded with a degree of Bachelor of Business Administration (BBA).
Admission to the flagship two-year PGP programmes at all IIMs is based on the Common Admission Test (CAT)
. CAT scores are often used as the primary short-listing criteria for admissions. International/overseas applicants have the option to apply using GMAT scores in lieu of CAT scores.The final round of admission based on the candidate's performance in CAT, Personal Interview (PI) and Written Analysis Test (WAT), academic record and relevant work experience.
IIMs in India
The first institute was set up in Calcutta in 1961, followed by that in Ahmedabad, Bangalore and Lucknow. Realising the importance of management education and the necessity to reach every part of the country, the Ministry of Human Resources established new IIMs in the country.