In the 21st century, everybody is talking about technology, comfort, luxury, etc but this all happened because of some of the innovative and visionary business people. By this, we can conclude that business knowledge is very important to make a mark in the society.
For fulfilling the business knowledge needs of the world many premier institutions offers Business Management courses by assessing the prospective talented candidates. Business courses offered are divided into various types and the most common of them are MBA and PGDM.
MASTER OF BUSINESS ADMINISTRATION (MBA)
A Master of Business Administration (MBA or M.B.A.) holds a master’s degree in business administration (management). The MBA degree originated in the United States in the early 20th century when the country industrialized and companies sought scientific approaches to management. The core courses in an MBA program cover various areas of business such as accounting, finance, marketing, human resources, and operations in a manner most relevant to management analysis and strategy. Most programs also include elective courses.
TYPES OF MBA
⦿ Two-year (Full-Time) MBA
⦿ Accelerated MBA
⦿ Part-Time MBA
⦿ Executive MBA (E-MBA)
⦿ Distance learning MBA
⦿ MBA dual degree
POST GRADUATE DIPLOMA IN MANAGEMENT (PGDM)
PGDM courses are offered by private B-Schools that are not affiliated with any University. PGDM is awarded by autonomous institutes offering management program, these institutes prepare their own syllabus, and they are no way dependent on the universities and enjoy the full autonomy of their courses.A two year PGDM is equivalent to MBA.All autonomous/private universities in India cannot award MBA & they should award a PGDM (IIMs also confer PGDM for those joining PGP)
Usually, autonomous colleges maintain the latest syllabus, as per the market demand, but, In universities, it is not possible to change the syllabus every year. It will take 3 or 5, sometimes it will take 7 years. Because many colleges are affiliated to the university, syllabus books and textbooks need to change and faculty needs to upgrade themselves. Based on this reason it will take time to change the syllabus. But in autonomous colleges, they will change continually, according to current market trend. So that students will get the latest knowledge.
TYPES OF PGDM
⦿ PGDM Triple specialization
⦿ PGDM Marketing
⦿ PGDM HR
Let us see some of the top differences between MBA and PGDM in the table given below
|MASTER OF BUSINESS ADMINISTRATION||POST GRADUATE DIPLOMA IN MANAGEMENT|
|The minimum eligibility criterion for admission is at least a 3-year bachelor's degree with at least 50 per cent marks||The minimum eligibility criterion for admission is at least a 3-year bachelor's degree with at least 50 per cent marks|
|QUALIFYING ENTRANCE EXAMS|
|Common entrance exams conducted by respective state and central government education boards in the country or in other countries example: GMAT, AIMA-MAT, ATMA, ICET, PGCET, Etc.||Entrance exams conducted by respective institutions all over the country and also all over the world. example: CAT, IIFT, SNAP, XAT, Etc.|
|2 or 3 years||1 or 2 years|
|Marketing, Human Resource Management, Finance, Entrepreneurship, Supply Chain and Logistics, Telecom Management, Pharma Management, etc.||Marketing, HR, Finance, Operations Management, Hospitality Management, International Business, Information Technology, Travel and Tourism Management, etc.|
|Semesters or Trimesters||Semesters or Trimesters|
|Post Graduate Degree||Post Graduate Diploma|
|Certificate of completion of MBA is issued by University for which the institute is affliated||Certificate of completion of PGDM is issued by the Autonomous Institution|
|Main focus is on theoretical aspects of the management and building competitive advantage to the MBA students when compared with Under Graduates.||Mainly focuses on developing the communication skills , analytical skills, Management skills to cater the increasing needs of the Corporate Institutions.|