It is a nation of hundreds of small businesses, where a majority still believe the best way to learn how to run a business is by actually doing it, there is an emerging section that swears by the world of B-schools. A few days ago, the slow CAT website was shocked to the brim with thousands of eager IIM applicants, all seeking to confirm their results. Now that the results of the Common Admission test – 2012 have been declared,now begins a battle for the most prestigious seats in IIM's and other reputed B-schools.
Some of the aspects that will influence the candidate's decisions are the Changing admission strategies, Increase in the number of seats in institutions and a hike in fee structure. While the IIM's have decided to give admissions to more number of students, the IIM-Kozhikode and IIM Calcutta will be increasing the number of seats. A candidate Ashlesh Jain who is a 99.7 percentile scorer says “I was really looking forward to the entrepreneurship programme in IIM-B, but now I think I will opt for Finance or Computer Management in IIM-A.
The Harvard Business School which has 43% of students from Humanities and Social Sciences and around 33% from Engineering and Sciences is now in a sharp contrast. A Professor from Loyola Institute of Business Administration Mr.Jayaraman K. Iyer says “Institution such as Harvard have stopped admitting students on the basis of GMAT scores. None of the management aptitude tests here is a good indicator for skills required to be a good manager. Despite their best efforts, B-School's students still have similar scores. The GD and interviews are good tools to discern a candidate but good academic records and an excellent CAT score are often taken into account more”.
Is it worth the expenditure that a student would ideally need to spend nearly Rs.13 lakh to 14 lakh in a good B-school, although some like FMS Delhi, charge only around Rs.30,000 ? While the student needs to think beyond preparing for CAT alone, there are things that B-Schools need to do, besides creating incubation centres to encourage the entrepreneurs.
Professor Iyer says that “Fundamentally, B-Schools should focus on enhancing the learning abilities of the candidates. For most students, B-schools are now a place that guarantees a good placement, a pay package they can't get as engineers. They should realize a Management school is not a training school, but a learning school”.