MBA stands for Management of Business Administration in its original version. MBA is a special program meant for anybody and everybody who is looking for special skills and knowledge to manage and lead any private, government, profit-oriented and not for profit organizations. The purpose of doing this degree for the aspirant is to gain an overall understanding of the business. After doing the MBA degree, the student not only gains the knowledge of understanding various businesses but also knows business application details.
Organizations of different sizes always have job openings from entry-level to top levels. MBA programs equip candidates to successfully acquire required skill sets and knowledge – be it managing people or understanding nuances of financial aspects or perspectives of global businesses or intricacies of supply chain management or detailed insights of consumers or any stakeholders of organizations that deal with products and services. The overall degree has evolved over the years. Initially, the degree only catered to basic businesses where the businesses were also simple in nature. The MBA degree has actually kept pace with the changing business landscape. The context of the degree itself was not specific and in fact, dealt with the general management aspects initially. The businesses started becoming complex and the degree also became more specific in nature like an MBA in Marketing, Finance, Human Resources and Information Technology.
The MBA program prepares a graduate with basic theoretical underpinnings of management fundamentals. During MBA programs participants learn many finer aspects of soft skills such as communication, presentations skills, interview skills, negotiation skills, and significance of team dynamics, besides other important ingredients of Finance, Marketing, HR, and IT etc. The word “management” in the MBA over the period has encompassed all the aspects of the businesses. Earlier it dealt with only the running of the business but over a period it also has included the opening of new business and taking it to great heights in terms of branding and scale so that it is beneficial to the society at large.
The word “business” actually means the act of being busy. There have been lots of various areas which were not commercialized which are now under the ambit of business. There has been a lot of structuring that has taken place in the unorganized sectors in the overall industry in the domestic as well as the global scenarios. New businesses have come up like outsourcing and artificial intelligence and lot have seen closures also which could not keep pace with the changing mindset of the people.
The word “administration” means running and continuing with the day to day working of the organisation. The businesses are now organised and conducted keeping in mind its overall impact on the businesses that are being viewed by its various stakeholders like society, government, employees, owners, suppliers and customers. Every process that is designed to be followed is set in such a way that larger goals are easily taken care of.
We at Narayana Business School take the education very seriously and incorporate every possible contemporary knowledge so that it meets with the ever-changing and ever updating demands of the industry. Also, we have a simple tradition of calling our students “Management Trainees” to make them realize their true significance after the degree. This helps them in imagining their selves as future managers. No wonder we have strong respect in the industry and guaranteed placements till date.