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Management Education - An Outlook
Should I study Management or not?
Importance of...
Management Education - An Outlook

Management courses are offered in wide range of disciplines. Management covers courses ...
and it happens in the Management Courses. Faculty and other students challenge statements,
attack and defend ideas. The as...
Is MBA the right choice
The purpose behind any degree is to enhance your career prospects and job opportunities. The
same ...
communication demands oneness of content and intent, synchronicity of speech and thought
and simultaneous awareness of bot...
mportance of Business Education
Whatever you do in your professional life, the chances are that it will involve some ‘busi...
anagement Education in India
Structure of management education in India is divided into major divisions as outlined
hereun...
estimate, every year about 10,000 MBAs are churned out by Indian Institutes of Management
(IIMs) and a host of other unive...
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India is a fastest growing economy that the developed nations always looking the
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The auto parts industry has emerged as one of the country's fastest-growing
manufacturing sectors; this is expec...
Mangement Career Opportunities
Empowered with a Management degree - one can develop a career in a range of fields. These
i...
Getting the right job after MBA
Getting a job after MBA is not a difficult task but the right one that would take your car...
established one because the latter gives you specialized training whereas former gives you to
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Public vs Private com...
you compete with applicants from outside the company? Can you apply for jobs for which you
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treams of Management
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Career in Management Education
Career in Management Education
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Career in Management Education

  1. 1.                     Management Education - An Outlook Should I study Management or not? Importance of Business Education Indian Scenario Nature of Work and Lifestyle MBA Career Opportunities Getting the right job after MBA Careers in Management Management Programs Steps to select a B-School Management Entrance Exams Preparing for MBA MBA Examination Tips Enrich your Vocabulary Vocabulary of International Terms Vocabulary of Business Terms Preparing for Group Discussions MBA through Distance Education Top B-School Rankings 2009 Top B-Schools Profiles
  2. 2. Management Education - An Outlook Management courses are offered in wide range of disciplines. Management covers courses in major areas such as marketing, human resources/ organizational behavior and strategic management etc. Teaching in these courses is drawn on a range of disciplines, which include mathematics, psychology,sociology, philosophy and economics. The ideas and practices from these diverse disciplines are applied to the understanding and management of voluntary, commercial and public sector organizations. Education in management has two aims. Firstly, to increase the understanding of the factors which influence the conduct of organizations and secondly to provide students with the tools and techniques which they may use to influence organizational life. Management - a practical subject Management education cannot be compared with studying other subject areas like chemistry, physics, mathematics or law etc. Management education can rather be compared with medicine. No doctor is allowed near a patient purely on the basis of theoretical knowledge. Doctors learn the professional skills by acquiring the practical knowledge that is taught by practicing doctors and hence they become experts in diagnosing the real physical condition of patients. In the similar way, in a business scenario also you have to do things, take decisions, take actions, and monitor results. You cannot operate any business by just planning what to do on paper. Planning is, though an important step in the process, there are many examples of businesses with excellent plans having failed because of non implementation of proper ideas. How can this be done? By having people who know about business techniques and can teach business management. First of all, the faculty is envisaged to be a special breed of people. They not only have high academic qualifications, but are also Masters or Gurus of the ideas they are discussing, "What we are doing right now" is the keynote among management students but, the thing which really makes a faculty special is the ability to teach and communicate in a very effective way. One of the important things these people understand is that very few business situations will fit the textbook examples. The comparison with medicine is again valid. Each situation can be described as unique, requiring its own unique solution. To be able to do this, one should be able to analyze a situation, examine various alternatives and come out with solutions to solve the particular problem being faced or to achieve organizational goals. The qualified faculty understands these situations and can correctly incorporate them into the learning process. Business today is global. Even the smallest company is affected by happenings outside its immediate geographical boundaries. Medium and large companies are automatically involved in cross-border business. The young businessmen and women needs to understand this, and, where necessary, to be able to exploit the situation. It is not possible today to teach domestic business and global or international business as separate subjects. In the real world of business, few people can be expected to solve a problem themselves. The value of multiple inputs in reaching a better solution is widely recognized. Management education enhances the managerial skills by sharing of ideas, the acceptance of others’ ideas and many of healthy discussions. Learning from other approaches is not always a natural and single study process. It has to come with active participation in a group of people
  3. 3. and it happens in the Management Courses. Faculty and other students challenge statements, attack and defend ideas. The assimilation of other approaches forms an important part of the learning process. Students coming from different spheres of life, bring with them all the advantages, disadvantages, fairness and prejudice of centuries of cultural heritage. These characteristics manifest themselves sometimes, in totally different approaches towards solving business problems and learning fundamentals of management. From all of these approaches there is something to learn. A multi cultured institute enhances the benefits gained from the participatory learning approach.
  4. 4. Is MBA the right choice The purpose behind any degree is to enhance your career prospects and job opportunities. The same is the case with an MBA degree. The only difference that sets it apart from others is that an MBA is recognized as the most valuable post graduate degree in the world. With an MBA degree under your belt, you have the whole new world open to you. An MBA qualification presents a successful career and provides you wings to fly in the glory of success. But before carving a niche in the field of management, there are some pertinent questions need to be analyzed like a frog on a dissecting table with the logic of a lawyer, precision of a surgeon and pragmatics of a scientist.        Do you understand management field? Does it interest you? Have you identified the areas you like to work? Can you explain the reason behind choosing an MBA? Where do you want to see yourself in future? Do you know your weakness and strength (academic, personal and professional?) Are you clear about the personal factor that must be considered in making your decision? All these answers will help you identify the field you like to work in, area of interest, your goal, your strength and weakness. All these are very important and need to be considered in a balanced way while taking a decision to make a career. The field you like to work creates curiosity, the area of interest gives you satisfaction, your goal motivates you, your strength gives you power and weakness makes you cautious. In addition to it, an MBA requires some basic attributes in his attitude like the curiosity of a cat, the courage of a soldier and the perseverance of a disease. Apart from all these basic elements, you need to have below mentioned skills that are pretty much required for an MBA. If you do not possess it, this is not the right field for you. Do you derive pleasure romancing with numbers? If numbers scare you or create phobia then MBA will not be your destination because mathematics is said to be the language of business. You need to have a sound knowledge of statistics, a regular practice of calculus and familiarity with algebra. But the actual level of mathematical knowledge will vary from program to program. The knowledge of mathematics help students understand the economic and financial theory in a better way Economic concepts provide powerful tools to understand everyday business issues. Statistics makes them enable to understand the market and sensex. These all are correlated and intertwined with each other. You need not be an expert but the basic knowledge of these subjects are important for an MBA. Do you enjoy playing with words? Apart from mathematical approaches, the gift of the gab can excel themselves in the management field because the soft areas like communication and interpersonal skills have been gaining currency of late. Communication is the makers of the material reality of our world. Without communication, it is impossible to imagine the highly specialized organizations of today. Communication is sine- qua-non to leave a footmark in the age of globalization. But most importantly a communication must be effective and authentic. An authentic
  5. 5. communication demands oneness of content and intent, synchronicity of speech and thought and simultaneous awareness of both sound and silence. Because its gap or silence that makes language meaningful. The content of our communication comes from WHAT we say and the intent comes from WHY we say it. Effective communication has a certain correlation with silence and economy of speech. Are you Tech-Savvy? If ‘yes’ then go ahead, you have treasure that awaits you. If you are not tech- savvy then MBA is not for you. In an ongoing effort to adapt to technological change, almost all the business schools have integrated computers into their Programmes because computer has become the sole of every other technology in the world. You need to have familiar at least with word processing, spreadsheets, databases and internet. The implementation of slideshows, computer research and the involvement of latest gadgets and devices prepare the students for the upcoming challenges of the modern world. Many schools will require you to have your own laptops. The use of the technology is highly encouraged for a better understanding and wider approach of the students. So familiarity with the technology is a must to rise in the horizon of MBA. Are you a team player? A good part of management education involves teamwork. If you are not a team player and instead, believe in individualism then MBA does not deem fit to your needs and requirements. Getting success will be a difficult task. You have to work on different team projects. MBA Programmes have converted an increased share of course work from individual work to team work. Many programs now incorporate training in team building somewhere in the program — either as part of new student orientation, in team building workshops, or as a topic in organizational behavior courses. Teams may be formed for the purpose of one project in one course or they may remain together for months, working on multiple courses. Have the traits of leadership? In today’s ultra-competitive business environment, the quality of leadership is very important to achieve something beyond the normal expectations. Leadership is about doing things that management does not define. The essence of leadership is that you have to have vision. Good leaders are made not born. If you have desire and will power, you can become a good leader. Good leaders develop through a never ending process of self study, education, training and experience. To inspire people into higher levels of teamwork requires the qualities of leadership. Leadership is a quality by which a person influences others to accomplish a mission, task or objective and directs the organization in a way that makes it more cohesive and logical. If you think, you possess all the above mentioned traits in you then, MBA is perfect for you to make a career. All the qualities are basic in nature that will provide you platform to take off the flight of career in the horizon of success.
  6. 6. mportance of Business Education Whatever you do in your professional life, the chances are that it will involve some ‘business’. Scientists, engineers, even artists, will inevitably have to understand at least the basics of business, and probably a lot more. Today’s management gurus, the people who are forecasting the way we will do business at the beginning of the 21st century, are saying that the companies of the future will consist of groups of specialists who work together on a specific project and then disband. For the next project the composition of the group will almost certainly be different. One of the consequences of this is that many more people will be what we call today ‘independent’, and will have to understand more about the opportunities and constraints of business. In other words, the combination of specialist qualification and business knowledge will become vital. But it is not just ‘knowledge’ of business. Before embarking on a business education you need to ask yourself a basic question, ‘what should a business education give me?’ Most subjects that one studies are composed of theory and practice. ‘What will a business education give me?’ Management education offers all necessary tools to equip one with the necessary techniques of successfully handling various business and management related issues. Basic tools which will enable you to make contributions to global economy. Besides providing the basic management capabilities it also provides :    The ability to use the contingency approach to solving business problems. Combining the best parts of several solutions into a unique and better solution. Having a global perspective Working with and learning from others
  7. 7. anagement Education in India Structure of management education in India is divided into major divisions as outlined hereunder:       Institutions of national importance University departments Colleges affiliated to the universities Non University Autonomous Institutions Distance/Correspondence based Institutions Unaffiliated Institutions At the top are the reputed Institutes of national importance institutes like IIMs and some university departments such as FMS which have maintained the high quality in their teaching and research of management education. The second rung institutes are those started by industrial houses, private institutes and state level educational institutes like MICA, Symbiosis and so on, which offer quality management education at par with these reputed institutes. These come under the category of “Non University Autonomous Institutions”. The third level management Institutes in India are the University departments and other Open Universities which are providing management education through correspondence, distance and part-time. In India all educational institutes, those who are providing management education are certified by the All India Council of Technical Education (AICTE). In India management study and training come with a variety of names –Master of Business Administration (MBA), Master of Management Studies (MMS), Master in Finance Control (MFC), PG Diploma in Business Management, PostGraduate Program in Public Management & Policy (PGP-PMP), Master of Public Administration (MPA), PG. Diploma in Management (PGDIM), PG. Diploma in Human Resource Management (PGDHRM), PG. Diploma in Financial Management (PGDFM), PG. Diploma in Operations Management (PGDOM), PG. Diploma in Marketing Management (PGDMM) and so on. During the course, there are prospects of internship from campus providing a glimpse into the operation of an organisation. There is ample scope for role-play and other simulations to develop skills in relevant areas. This type of program forms the basis for mutually supportive networks throughout your career. You may have the facility of a placement cell which co-ordinates opportunities to interview for potential employers. The fee structure of the management programs in India varies from programs to programs. Full time courses from the most reputed institutions are usually expensive, ranging from Rs. 50,000 to Rs. 4 lakh, per annum, approximately. Usually, the 2 year management programs can be taken up after successful completion of graduate studies in any discipline. Graduates with a minimum of 45 percent to 50 percent marks are eligible to apply for admission to management programs. Aspirants have to go through a selection process which includes entrance/admission tests, followed by group discussion and the interview of candidates declared successful in the written test. The aim of the test is to evaluate, under stress, a candidate’s general verbal, mathematical and analytical abilities. The management entrance test in India call for a superior command over the English language, quantitave skills and a sharp mind. In India a chain of institutions numbering more than 200 universities offering management courses both at the First Degree and Advanced levels has been started. The courses offered at the various institutions to date cover training at the Master's Degree level for the M.B.A. degree. Master of Business Administration is normally considered to be the basic and ideal postgraduate qualification for taking up a good and rewarding career in management. As per one
  8. 8. estimate, every year about 10,000 MBAs are churned out by Indian Institutes of Management (IIMs) and a host of other universities and recognised institutes/deemed universities. A candidate with a good MBA degree finds no problem in getting a good job and freshers are usually inducted as Management Trainees for one to two years, before getting absorbed in regular scales. After a few years of experience, MBAs may choose the job of their own liking at very attractive terms. Several institutes/universities also offer post-graduate diplomas of one to two-year duration on Business Management, Marketing Management, HRD, Personnel Management and Labor Welfare, Basic Finance, Financial Management, Materials Management, Operations Management, etc. But as a matter of rule, MBA degree is considered to be ideal by the job-seekers as well as the employers. Diplomas also assist in finding good openings, provided these are supplemented with some relevant experience. Important Management Services in India India’s Competitive Advantage: Why India needs Management skills?  India and the Indians have undergone a paradigm shift. There have been fundamental and irreversible changes in the economy, government policies, outlook of business and industry, and in the mindset of the Indians in general.
  9. 9.             From a shortage economy of food and foreign exchange, India has now become a surplus one. From an agro based economy, India has emerged as a service oriented one. From the low-growth of the past, the economy has become a high-growth one in the long-term. Having been an aid recipient, India is now joining the aid givers club. Although India was late and slow in modernization of industry in general in the past, it is now a front-runner in the emerging Knowledge based New Economy. The Government is continuing its reform and liberalization not out of compulsion but out of conviction. Indian companies are no longer afraid of Multinational Companies. They have become globally competitive and many of them have become MNCs themselves. Fatalism and contentment of the Indian mindset have given way to optimism and ambition. Introvert and defensive approach have been replaced by outward-looking and confident attitude. In place of denial and sacrifice, the Indian value system has started recognizing seeking of satisfaction and happiness. The Indian culture, which looked down upon wealth as a sin and believed in simple living and high thinking, has started recognizing prosperity and success as acceptable and necessary goals. Indian management graduates no longer queue up for safe government jobs. They prefer and enjoy the challenges and risks of becoming entrepreneurs and global players in the emerging private sectors. Stable country and institutions      India being a largest democracy with stable, mature, vibrant and exemplary democratic governance and institutions, boasts lots of quality B-Schools attracting intellect student community in large number every year. Possess strong and transparent legal and accounting system. Numerous watchful and proactive NGOs. Free, vocal, alert and quality media. 5600 dailies with a combined circulation of 60 million, nearly 15000 weeklies and 20000 periodicals in 21 regional languages. Legal protection for intellectual property rights. Consumer market    Large and growing market of 1 billion people out of which 300 million are middle class consumers. India offers a vibrant market of youth and vigor with 54% of population below 25 years of age. These young people will work harder, earn more and demand more from the market and thereby sustaining growth in the long-term. Every month, there is an addition of one million cell phone subscribers. By December 2005, the total number is expected to reach 100 million. The domestic demand is expected to double over the ten-year period from 1998 to 2007. The number of households with "high income" is expected to increase by 60% in the next four years to 44 million households. Economy
  10. 10.      India is a fastest growing economy that the developed nations always looking the country as a best global market to market the products. The fundamentals of the Indian economy have become strong and sustainable. The macro-economic indicators are at present the best in the history of independent India with high growth, foreign exchange reserves, and foreign investment and robust increase in exports and low inflation and interest rates. India is the second fastest growing economy of the world at present. A unique feature of the transition of the Indian economy has been high growth with stability. The Indian economy has proved its strength and resilience when there have been crises in other parts of the world including Asia in recent years. The foreign exchange reserves have reached a record level of US$ 100 billion as on 22nd December 2003. India is the sixth largest foreign exchange holder in the world. This is remarkable considering the fact that the Forex reserves went under US$ one billion in 1991 before the economic reforms started. This comfortable situation has facilitated further relaxation of foreign exchange restrictions and a gradual move towards greater capital account convertibility. The interest rate continues to be reduced and is around 6%. This is the lowest in the last thirty years and this is stimulating consumption and investment. Agriculture    One of the world's largest food producers (600 million tones). World's largest producer of milk, sugarcane and tea. Second largest exporter of rice, wheat, fruits, and vegetables. India produces 30 million tones of fruits and 59 million tones of vegetables. Industry       Diversified and large industrial base, which is becoming globally competitive. Examples, Tata Steel and NALCO are the lowest cost manufacturers of steel and aluminium in the world. Moser Baer is one of the top three manufacturers of CD Roms in the world. Bharat Forge is one of the leading suppliers to auto giants, such as Ford, General Motors, and Toyota. India's Hero Honda is the world's largest motorcycle manufacturer with 2002 production of 1.7 million units. The Indian companies have drawn up ambitious plans for expanding and diversifying their manufacturing activities with about 12 billion dollars in the next three years. Most of the companies have been able to generate the funds from their own operations. The areas whose output is being scaled up are automobiles, auto parts, metals, chemicals, pharmaceuticals and electronics. Some of the Indian companies have gone global with presence in 60 countries, including USA, Europe and China. India is one of the top ten producers of bulk drugs in the world and 60% of India's bulk drugs production is exported. India has the highest number of annual bulk drugs filings (77) with USFDA. India is home to the largest number of pharma plants (61) approved by USFDA outside US. The chemical industry is becoming competitive and has very high growth potential for production for local market as well as exports. Bayer AG, the German chemical and pharmaceutical company has identified India as the outsourcing hub for basic and specialty chemicals. There are 150 biotechnology companies whose business is growing exponentially.
  11. 11.     The auto parts industry has emerged as one of the country's fastest-growing manufacturing sectors; this is expected to reach US$ 8 billion in 2006. 'Bharat Forge' of India is the world's largest manufacturer of front axles for trucks. India has emerged as an outsourcing center for auto parts. Visteon and Delphi, the world's largest component manufacturers have entered India for production. Toyota is opening a transmission parts unit in India. Volvo and GM have set up purchasing offices. A rising share of Indian auto parts exports goes to original equipment manufacturers (OEMs). India is the second largest cement producer in the world with 110 million tons. India is the world's premier center for diamond cutting and polishing. Nine out of every 10 stones old in the world pass through India. India has a large entertainment industry, which produces more than 1,000 movies per year overshadowing Hollywood.
  12. 12. Mangement Career Opportunities Empowered with a Management degree - one can develop a career in a range of fields. These include openings in the fields of human resource management, operations management, strategic management, international management, and organisational communication etc. Career advancement, management expertise and increased earnings are perhaps the most common reasons given for pursuing an MBA. An MBA can help you make major break or leap in your career path with a concomitant leap in income. After liberalization Indian market has opened several new opportunities to management students. After rapid expansion of Industries, India has also opened new vistas for excellent opportunities for careers in management. New Economic Policy of liberalisation has increased the demand for managerial personnel in the corporate world. Industry insiders feels that the demand for managerial personnel in specialist fields like Finance, Production, Marketing, Personnel and Administration will further increase rapidly in the coming years. The corporates in their accelerated drive for all-important competitive edge believe that management graduates with their macro vision and analytical bent of mind can deliver more than others in the fast changing world of business. Now MBA as a three-letter qualification has become almost mandatory for entry into and future advancement in a wide range of industries. Top companies-multinationals, foreign banks, financial institutions, public sector undertakings, in effect the whole corporate sector – offer bright opportunities to management graduates.The careers in management offer one of the best remuneration packages and perks everywhere. Private sector today offers rapid advancement to result-oriented professionals. Excellent perks are offered which may include free accommodation, free conveyance / attractive allowances, CPF, leave travel concession, medical allowance / reimbursement etc. For those who take up self employment or who become employment generators as entrepreneurs – MBA or equivalent qualifications provide handful of necessary inputs for achieving successful entrepreneurial aims. Previous
  13. 13. Getting the right job after MBA Getting a job after MBA is not a difficult task but the right one that would take your career into the horizon of success needs in-depth analysis and speculation. You need to weed out the thorns meticulously to weave the path of success so that you can leave footmarks for others to follow. There are so many questions which need to be answered while assessing a job offer. Will the organization be a good place to work? Will the job be interesting? Will I get the opportunities for advancement? Is the salary fair? Does the employer offer good benefits? If you have not figured out exactly what you want, the following discussion will help you to develop a set of criteria for judging a job. The Organization After MBA, to grab the right job in the ocean of opportunities, you have to conduct a thorough research to find out information about the organization that will help you decide whether it is good place for you to work. See, whether the organization provides an environment which is conducive to your development or not, because the seed of talent does not sprout, if the environment is not congenial to its development. Stories about an organization published in magazines and newspaper can present you a crystal clear picture about its success, failures and the future plan. In addition to it, you can get the details of a company from its website. You can also identify articles on a company by looking under its name in periodical or computerized indexes in libraries. However, it will not be useful to look back more than 2 or 3 years. Organization's beliefs vs your personal beliefs As an MBA student, first of all, you have to do brainstorming to set your professional goal as well as discover the area of work you enjoy doing. It is very important to know your true desire and talent because it will help you decide on the job that is best suited for you. It is easier to apply for the job if you are enthusiastic about what the organization does. Size of the Organization As an MBA professional, you may like working for a small company, but it is in your interest to work for large companies with thousand of employees. Large companies generally offer a greater variety of training programmes, career paths, more managerial levels for advancement and better employee benefits than a small company. A large company may also have more advanced technologies and specialized workforce. Large Companies present opportunity for networking because the more people you get to know on a personal level, the better chances you have for success in the future. Apart from this, jobs in small company may offer broader authority and responsibility, a closer working relationship with top management, a chance to clearly see your contribution to the success of organization. Start-up or an established organisation It is said that adversity always presents an opportunity. New businesses have a high failure rate, but it also gives you liberty to do experiment to pull out the company from troubles. It is the right place to apply your knowledge and expertise which you have acquired during the MBA course. However, it may be just as exciting and rewarding to work for a young firm as the
  14. 14. established one because the latter gives you specialized training whereas former gives you to apply. Public vs Private company An individual or a family may control a privately owned company and key jobs may be reserved for relatives and friends. A board of directors responsible to the stockholders controls a publicly owned company and key jobs are usually open to anyone. Nature of the job MBA course provides specialization in many areas that need to be considered while selecting a job. The nature of the job holds importance in order to make a successful career. Even if everything else about the job is attractive, you will be unhappy if you dislike the day-to-day work. Determining in advance whether the nature of work suits your skill or not? Whether it will utilize your skills or not? Will you enjoy your work to the fullest or not? Work on this aspect before you accept or reject your offer. Job Profile Applying all the knowledge and vision that you have acquired from the MBA course, you must create a title for professional life. Try to target only the intended job, rather than evaluating every single job opportunity that comes your way. Instead of taking a job based on pay, you should think about taking a job based on your title because it will help you rise on the path of professionalism. Location of the Job If the job is located in another part of the country, you need to consider the cost of living, accommodation and transportation, and the quality of educational and recreational facilities in that section of the country. Even if the job location is in your area, you should consider the time and expense of commuting. Working Hours Most jobs involve regular hours—for example, 40 hours a week, during the day, Monday to Friday. Other jobs require night, weekend, or holiday work. In addition, some jobs routinely require overtime to meet deadlines or sales or production goals, or to better serve customers. Consider the effect the work hours will have on your personal life. Opportunities offered by employers A good job offers you opportunities to learn new skills, increase your earnings, and rise to positions of greater authority, responsibility, and prestige. Lack of opportunities can dampen your interest in the work and result in frustration and boredom. The company should have a training plan for you. What valuable new skills does the company plan to teach you? The employer should give you some idea of promotion possibilities within the organization. What is the next step on the career ladder? When opportunities for advancement do arise, will
  15. 15. you compete with applicants from outside the company? Can you apply for jobs for which you qualify elsewhere within the organization, or is mobility within the firm limited? Salaries and benefits In order to know if an offer is reasonable, you need a rough estimate of what the job should pay. You may have to go to several sources for this information. Try to find family, friends, or acquaintances that were recently hired in similar jobs. Ask your teachers and the staff in placement offices about starting pay for graduates with your qualifications. Check the library or your school’s career center for salary surveys. If you are considering the salary and benefits for a job in another geographic area, make allowances for differences in the cost of living, which may be significantly higher in a large metropolitan area than in a smaller city, town, or rural area. Take into account that the starting salary is just that—the start. Your salary should be reviewed on a regular basis; many organizations do it every year. How much can you expect to earn after 1, 2, or 3 or more years? An employer cannot be specific about the amount of pay if it includes commissions and bonuses. Benefits can also add a lot to your base pay, but they vary widely. Find out exactly what the benefit package includes and how much of the costs you must bear.
  16. 16. treams of Management Click on any of the management streams below to find out more details about them. Incase you do not find any particular stream of management, please write to us using the "Feedback Form" above. Accounting Management Tea Management Telecom Management Textile Management Sports Management Tourism Management IT Management Shipping Port Management Operations Management Time Management Risk Management Personnel Management Rural Management Population Management Virtual Management Project Management Sales Management Brand Management Administrative Management Biotechnology Management Association Management Business Process Management Process Management Logistics Management Program Management Systems Management Production Management Product Management Strategic Management Supply Chain Management Marketing Management Procurement Management Knowledge Management Industrial Management Quality Management Hotel Management Forest Management Human Resource Management Finance Management Hospital Management Facility Management Fashion Management Healthcare Management Cost Management Executive Management Export Management Event Management
  17. 17. Crisis Management Change Management Communication Management Construction Management Customer Relationship Management Co-operative Management Dairy Management Design Management Disaster Management
  18. 18. Business Management Programs Related Links Home Post-Graduate-Programs Bachelors-Management Fellowship-and-Research-Programs Other-Programs Business looking management programs are designed for business and management professionals for new career and career advancement opportunities. Career oriented graduates of the management degree program are prepared to organize, plan, manage, and run the tasks and procedures of a company, firm, or an organization. Inclusive of management degree programs are courses at both basic and advanced levels including business decision-making, communications, production and organization, logistics and purchasing, quantitative methodology such as accounting, human resources management, administrative practices, and many others. For those looking to gain success in business related careers or who simply want to learn how to be successful in business, a management degree is not only the most versatile, but in our opinion the most helpful as well. If you're ready to begin your business career, we can help you get started. Just browse our list of management degrees and colleges offering them and choose the option that best fits your needs. There you will find general information about the programs and detailed course information concerning management schools. ost Graduate Programs Related Links Home Post-Graduate-Programs Bachelors-Management Fellowship-and-Research-Programs Other-Programs Masters program are aimed at developing a solid foundation in the fundamentals of management while maintaining work and life commitments. Through a diverse set of course offerings, pedagogies, and formats, you have the flexibility to shape the experience according to your personal needs and interests. Masters degree basically comprises of two-years and is intended towards preparing students to take up executive responsibilities in various career fields in organizations through acquisition of analytical skills, functional knowledge, problem solving skills, communication skills and leadership etc. The two-year management program is generally spread over six trimesters (as in the case of autonomous business schools: IIMs, XLRI etc.). It consists of four semesters (in University Colleges, FMS etc.). The first-year course curriculum usually comprises of basic knowledge required to understand and analyze the operations within the organization. The first year curriculum is almost same in most of the business schools.
  19. 19. The courses are designed in such a manner that it helps the students to understand and solve specific problems from the diverse functional areas such as marketing, human resource, production and finance etc. The subject matters of different courses are coordinated in a fashion which helps the student in understanding the inter-related aspects of the functions within the organization. Students are generally expected to undertake summer projects in organizations for a period of six to ten weeks at the end of the first year. This helps the students in applying their academic knowledge in practical field which helps them gaining further knowledge about the same. This helps the student further in the selection electives in the second year of their studies. The second-year curriculum is designed in a manner that it provides the students an in-depth knowledge of the functional areas of the organization and the related career one chooses to specialize in. Specializations are generally obtainable in the following functional areas: Finance  Management and Control  Marketing  MIS  Behavioral Sciences  Economics  Operations Management  PM&IR Bachelors in Management Related Links Home Post-Graduate-Programs Bachelors-Management Fellowship-and-Research-Programs Other-Programs The Bachelors of Management program gives you the maximum flexibility to follow your interests and prepare for a career in business. A bachelors in management degree enhances the management skills of working professionals and associate's in management students. The program typically includes courses to improve organizational skills, to readily adapt to the changing and evolving work environments while improving communication, productivity, and effectiveness through leadership and education. A BBA/BBS degree provides adequate learning of managerial skills and knowledge of business activities to the students. A quality BBA program offers more skill enhancement and practical knowledge than usual degree courses. Like an MBA program, learning through case studies, group activities, project writing, presentations, summer internship, etc. form an integral part of a BBA program. BBA graduates have an edge over others and are sought after by the industry owing to the exposure the course offers to operational environment in the field of business. The basic eligibility for the Bachelors degree programs (i.e. BBA, BBS, BBM, etc.) is a pass in 10+2 or equivalent examination from any recognized university or board.
  20. 20. Generally the admissions to these programs are carried out on merit basis but some institutes do have their own entrance exams also. There is no common admission test available in the India at present for these programs, which might be followed by multiple institutes. The details about the entrance exams can generally be obtained from the respective institutes. These exams are generally conducted after the completion of the 10+2 exams through a preregistration process which may differ from institute to institute. In some of these schools the candidates can appear in the entrance tests even before getting the 10+2 scores. But the final 10+2 merit / scores are taken into account during the final admission process. Career Oppurtunities:A Bachelors in management can open the door to careers such as accountant, auditor, business development manager, economic researcher, environmental manager, events manager, human resources manager, or marketing manager.
  21. 21. Fellowship and Research Programs Related Links Home Post-Graduate-Programs Bachelors-Management Fellowship-and-Research-Programs Other-Programs Ph.D. is the highest level of education that one can obtain in an academic discipline. The initials stand for "Doctor of Philosophy", where the word 'doctor' comes form the original Latin root meaning “teacher”. The degree isn't limited to what we would today call the field of Philosophy. The term 'philosophy' is used more generally here to refer to any academic discipline. PhD and fellowship programs in management are the study programs that prepare students to conduct high quality research in a chosen discipline of management. Area of research is selected in these programs according to each candidate's ability to conduct research in the chosen area. Like other subject areas of management research and fellowship programs also require students to carry out an intensive research based study on the specific topic. The main objective of these programs is to complete and submit a major research based thesis, working with the selected faculty. The Ph.D. degree is awarded upon the successful completion of a final oral presentation on the thesis. The fellowship or research programs in management programs are offered by many B-schools and universities with/without financial assistance. Getting fellowship or financial assistance for these research programs are based on the admission tests and/or the past research experience of the candidates. The admission criterion varies from school to school. All PhD/Fellowship students must spend three to five years in full-time research study and they are expected to focus full-time efforts on the doctoral studies. The financial aid is initially offered for the first couple of years generally (in some cases three years) and can be extended for more time period satisfying the conditions of the specific school or the sponsors. Fellowship or the research programs allows students to expand their capability, aptitude, competence to review, analyze, conduct and publish research through a series of research seminars and theory-building and statistical course work that supplement and complement students' abilities and desires. Those who complete the PhD programs are considered experts in the specific area of study. The top B-schools and Institutes in the country identify the best student-talents and offer them the fellowship assistance for carrying out the entire PhD program. A high end research environment is provided to the students for pursuing their research work to increase their skills.  Conduct research and publish scientific journals  Effectively teach courses at the university level As an outcome, the doctoral or a fellowship program in the field of management is rigorous, and should be viewed as a full-time commitment for a minimum of four years to a maximum of six years!
  22. 22. Management - Other Programs Related Links Home Post-Graduate-Programs Bachelors-Management Fellowship-and-Research-Programs Other-Programs Apart from the conventional or traditional degree programs in the field of management, there are number of other programs offered in India. These programs focus more on the demands of today's labor job market which are broadly classified into    Vocational programs Technical training programs Certificate programs The programs are at times considered as foundation programs for pursuing higher degree programs in the management field. Who can pursue? Vocational education or technical training programs in management are suitable for students who wish to have a career in business/ entrepreneurship Vocational education is a form of education in which people are provided with practical skills which will allow them to engage in careers which involve manual or practical abilities. Some examples of careers for which people can receive vocational education training include: aviation mechanics, hotel management, hairstyling, plumbing, air conditioner installation etc. People who want to develop new skills for example suitably experienced workers, with or without existing qualifications or who want to acquire new skills to support them to stay in the workforce and contribute to the economy, can pursue these programs Training methods These other kinds of management programs generally consist of two parts of training. The academic portion covers the traditional classroom study about the specific area such as small business start-ups or any other vocational area. The second portion involves intensive training and exams and/or project work dissertation submission. The method by which job training is delivered often varies based on the needs of the company, the trainee, and on the task being performed. The method should suit the audience, the content, the business environment, and the learning objective. Ideally, the method chosen will motivate employees to learn, help employees prepare themselves for learning, enable the trainees to apply and practice what they've been taught, help trainees retain and transfer what they have learned, and integrate performance with other skills and knowledge. Who may offer a Vocational Certificate or Vocational Diploma?  Registered Training Institutes / Organizations  Universities and other approved higher education institutions  Vocational Education Training Providers
  23. 23. anagement Entrance Examinations The first step for an MBA aspirant is the entrance test either carried out at the National Level, State Level or the Institutes’ level. These entrance tests are designed with a view to objectively measure the aptitude of the candidate, and the general skills as expected of a would be manager / organiser. The entrance tests are of multiple-choice type, where each question is provided with multiple options / answers (generally four choices) and the candidate has to choose the right one. Generally, the management programs are open to all the streams of study. The complexity level of the masters level management entrance test is mainly pegged at 10+2 level. However, the entrance test for bachelors level management program mainly emphasized on high school standards. The Entrance Tests broadly consist of the following sections: Verbal Ability Test:- The entrance test in Verbal Ability consists of questions based on Antonyms, Synonyms, English Usage, Sentence Sequencing, Sentence Completion, Logical Arrangements and Arguments, etc. Reading Comprehension Section:- The entrance test in reading comprehension section consists of questions based on Passages. Quantitative Ability Test:- The entrance test in Quantitative Ability Test section consists of the following content. Number Systems, Percentages, HCF and LCM, Ratios and Proportions, Profit & Loss, Interests, Time-Work, Time-Distance, Clocks, Calendars, Set Theory, Quadratics, Remainder Theorem, Functions, Permutations, Probability, Trigonometry etc. Data Interpretation Skills:- The entrance test in Data Interpretation Section consists of the following topics. Charts and Tables, Graphs and Functions based problems. Logical Ability Test:- The entrance test in Logical Ability Test section cosists of the following content. Analogies, Logical Clustering, Mathematical Logic, Critical Reasoning, Puzzles, etc. General Awareness Tests:- The entrance test in General Awareness Tests section tests the candidate's general knowledge. Patterns The pattern of the entrance test may vary institute to institute. Some may have or may not have all of the above sections. The number of questions per section and the marks assigned for a correct answer in each section may also vary. The pattern of the entrance tests generally changes every year. Dynamics
  24. 24. The duration of the entrance test is generally 2 to 3 hours while the total number of questions are in the range of 150 - 250 in number. The tests are conceptualized in such a manner that only a well prepared and learned candidate will only be able to answer all the questions correctly in the given time frame. The accuracy and speed of answering the questions are extremely important in the entrance tests as these results in the final assessment of the ability to handle the pressures. The focus should be to maximize the overall performance, with reasonably good performance in each section. Since each section is targeted towards measuring specific skills, no section should be left un-attempted. Further, one has to score a minimum of marks in each section to be eligible for being considered for over all ranking. While intelligent guessing is encouraged, arbitrary guessing is penalised by way of negative marks (1/4 th to 1/3 rd mark against every incorrect answer). Group Discussion and Personal Interview Some business schools / institutes adopt Group Discussions in the selection process while some do not. Students qualifying in the entrance test are invited for a Group Discussion. This is further followed by a Personal Interview. The Group discussions are the first occasion on which the candidates meet and interact with the faculty and other members. On an average 6 to 12 candidates are invited for this phase of the selection process for every seat offered. In a Group Discussion the candidates discuss the topic given to them with the faculty for a duration of 15 - 25minutes. On basis of the Group Discussion, the candidate's ability is assessed in terms of :     Behavior Communication skills Contribution of ideas facilitating a discussion The range and depth of his / her knowledge on topics of general interest Initiative and leadership qualities The Personal Interview process normally takes place after the group discussions. In this interview, besides the validation of the information provided by the candidate in the application form, a candidate's suitability for the management programme is assessed on basis of various personal attributes. Academic Performance Due weightage is given to a candidate's academic performance during the selection process. Work Experience Appropriate weightage is also given to candidates having at least 6 months of full-time work experience. Selection Process Admissions to most of the Business Management Programs are carried out on the basis of interest and aptitude. Selections are done through a multi-mode procedure.
  25. 25. Admissions are made on the basis of:     Academic performance Performance in Entrance Test (where ever applicable) Performance in Group Discussions Performance in Personal Interview and Work Experience ( for Managers ) National Level CAT XAT MAT JMET NCHMCT-JEE IIFT ATMA CEMAT GMAT E-MAT OPENMAT BIMTECH State Level CAT-Maharashtra CET-Maharashtra CENTAC-Puducherry CMAT-Himachal OMAT-Orissa KMAT- Karnataka GCET-Gujarat I-CET Andhra UPMCAT-UP UPSEE-UP UAJET-Uttarakhand RMAT-Rajasthan NET-Rajasthan TANCET-Tamil Nadu CUSAT- Kerala Other Institutes BITSAT FMS-Delhi IBSAT ISB ISM-Dhanbad IRMA Gujarat FP - IIM JEMAT NMIMS PSMS TISS IRM-Jaipur SNAP SPJIMR TAPMI MBM-Kolkata MICA IHMR-Jaipur FRI Dehradun BVU-Pune AMU-Aligarh IMT Ghazaibad NIFT IITTM-Gwalior
  26. 26. How to prepare for MBA Entrance Exams MBA or Master in Business Administration is one of the most sought after career options in the current scenario around the world. MBA is a ‘Master program’ that prepares a student for various functions and positions in the ‘Business World’. Even though many private institutes are mushrooming to help students get through MBA entrance examinations, but succeeding in it in India is still, not an easy task. As it is correctly said by Vince Lombardi, “Dictionary is the only place where success comes before work.” To succeed, hard work is the only price we can pay. If you are willing to pay the price, success will undoubtedly be yours. To clear the examination a student will require in-depth knowledge, analytical mind, sharp memory and above all, systematic planning and preparation. Needless to say, that the aspirants should not attempt to prepare for their MBA Entrance Test overnight. The competition being amongst the best talents from various disciplines, a thorough and structured preparation is required to get admission to the MBA program. Even though syllabus in the admission/entrance test is the same such as CAT, XAT, MAT, SNAP etc. it does not differ from university to university. These aspects include tests on quantitative aptitude, reasoning, intelligence, comprehension, case analysis, relationships, word power, synonyms, antonyms, general knowledge/awareness, etc. Thus, it is very important for students to start preparing well in advance on all the above aspects. If one can get hold of previous year's papers or at least the pattern, this would be very helpful in preparing for the test. There are three stages in the MBA Entrance Exam . 1) Written 2) Group 3) Personal Interview (PI) Discussion Test (GD) Improve your vocabulary and verbal ability Related index A B C D E F G H I J K L M N O P Q R S T U Links
  27. 27. V W Y Z A thorough knowledge of english language is an essential requirement nowadays for anyone but it become all the more important for those who wish to crack any of the the management entrance exams. Majority of the students are not able to secure high scores due to a poor knowledge of english language. This section will help you in improving your verbal ability and vocabulary. While this list is helpful for a strong beginning, more advanced vocabulary building will help you quickly improve your English. This vocabulary list will further help you build your vocabulary, especially at advanced levels. We, at National Network Education (NNE), have compiled a list of nearly 2000 such words which will help you in improving your overall abilities. Distance Education Related Links Home North-Region South-Region East-Region West-Region Distance Education is gradually becoming popular among Indian students as it offers liberty to learn while earn and anytime anywhere learning. Acquiring a degree or diploma through Distance Education mode seems to facilitate the needs of today's fast – paced; degreeconscious youngsters. Almost all the study disciplines are offered through Distance Education in India. Students have open options to choose any institute of choice when taking education through distance learning mode. Almost all recognized universities and academic institutions in India offers distance education programs in whole range of disciplines. To facilitate students all such institutions have Department Of Distance Education which looks after course delivery, conduct of examination, students’ queries and various other academic activities. The Distance Education Departments of different universities and institutions are approved from Directorate of Distance Education (DDE) for imparting courses and award degrees. The Indira Gandhi National Open University (IGNOU) is the largest university of its kind in Asia for courses delivery through distance education. The University offers whole range of programs through distance education including management. Both technical and non technical education is offered by different universities and institutions in India through distance education mode. Huge pool of students prefers earning professional qualification in management through distance education, as it helps them to achieve their academic/career goals by sticking to their own study-schedule. The other main feature of Distance Education is its affordability. The fee structure of Distance/Correspondence Programs is generally much lesser than the regular ones. We have taken efforts to help prospective aspirants by providing the Zone - Wise List
  28. 28. of Institutes/Universities in India that offer degree/diploma programs in Management discipline though distance education. Management Institutes - West Region Related Links Home North-Region South-Region East-Region West-Region Institutes/Universities in India offering Management programs through Distance Education in the western region are: 1. Elite Academy, Mumbai, Maharashtra 2. Indian Institutefor Aeronautical Engineering & Information Tech, Pune, Maharashtra 3. Indian Instituteof Management Training (IIMT), Pune, Maharashtra 4. Indian Instituteof Materials Management, Navi Mumbai, Maharashtra 5. Indian Instituteof Modern Management, Pune, Maharashtra 6. Institute of Correspondence Education, Mumbai,Maharashtra 7. Institute for Psychotherapy& Management Sciences, ACN International University, Mumbai, Maharashtra 8. InternationalInstitute of Management Studies (IIMS), Pune, Maharashtra 9. Narsee Monjee Instituteof Management Studies, Department of Distance Learning Mumbai, Maharashtra 10. NationalInstitute of Management, Mumbai, Maharashtra 11. Rashmi Institute,Pune, Maharashtra 12. Symbiosis Centreof Health Care, Pune, Maharashtra 13. SymbiosisInstitute of Management Studies (SIMS), Pune, Maharashtra 14. Symbiosis Centrefor Distance Learning (SCDL), Pune, Maharashtra 15. TASMAC, Pune, Maharashtra 16. YashwantraoChavan Maharashtra Open University, School of Commerce and Management,Nashik, Maharashtra 17. WelingkarInstitute of Management Development & Research, Mumbai, Maharashtra
  29. 29. GD Introduction Related Home How Important GD GD Personal Written Test Links to face GD GD Skills Guidelines Topics Interview After getting success in CAT for admission in IIMs and other reputed schools , the very important assignment is to appear in GD & Personal Interview. Start making preparations for group discussions and personal interview right away, without waiting till the eleventh hour. It is important to concentrate on subject knowledge and general awareness. Hence, the prime need for thorough preparation. Remember, the competition is very tough. Only few hundred candidates make it to the final list from lacs of aspirants each year. Group discussions are used as a selection tool because they provide lots of information about candidate’s personality. GDs are used to assess group skills such as leadership skills, social skills, listening and articulation skills, situation handling ability and interpersonal ability. Critical Success Factors in GDs 1. INNOVATIVENESS: Ability to have an entirely different perspective. 2. QUALITY OF CONTENT: The level of preparedness. 3. LOGICAL ABILITY: Ability to reason, think and debate pros cons. 4. BEHAVIOURAL SKILLS: Aggressiveness is negative while assertiveness is positive. 5. COMMUNICATION: It includes articulation, listening and body language .Functional knowledge of language is most important thing. 6. LEADERSHIP: It involves all above skills. It is the mobility that lets you demonstrate leadership skill as the content demands.
  30. 30. GDs can be divided into three phases:    REGULAR STRUCTURED GDs: In this phase time limits and topic are defined. No Consensus is expected at end. No leader is to be selected for facilitating process. Topics are general. UNSTRUCTURED GDs: Choosing leader is mandatory. Group has to reach a consensus at the end. The leader has to direct the group. SPECIALISED GDs: These include role-play GDs. Other factors which are crucial for Group Discussion are: CONTENT Vs PROCESS Content refers level of preparation, the ability to organize thoughts in a logical way, to have concept of topic and ability to innovate.Process includes expression, communication skill, body language and the attitude.
  31. 31. ommerce Education - A Foundation forBusiness Development Commerce offers foundation for many professional careers like Finance, Planning, Accountancy, Tax Practitioners, Banking and Broking etc, besides academics, research, and many more. Persons having flair for accounting, finance, commodities, marketing and trading etc. generally choose Commerce as first career choice. Commerce offers subjects that help students establish a clear understanding of business ventures. With this in mind, economic value between two entities should be well understood. The study of financial assets and loans among others are also included. ADVT As a stream of study, Commerce can be studied right after 10 years of schooling. After the 10 years of schooling – commerce is available as an option in 10+2 or the Higher Secondary level. This paves the way for higher studies in commerce related subjects. The undergraduate and postgraduate Education in Commerce is offered at University departments and colleges spread all across the country. Specializations are offered at post graduate and at research levels. A number of subjects can be studied under disciplines of Commerce in conjugation like; accountancy, economics, mathematics, business, finance etc. Most commerce colleges in India offer the following subjects: Business economics: This would cover concepts like the laws of demand and supply, law of returns, elasticity, theory of pricing under different market forms etc. Financial accounting: This subject would deal with the preparation of profit and loss statements, balance sheets and final accounts of a company, knowledge of Indian and international accounting standards, calculation of depreciation and valuation of shares and goodwill of a company. Cost accounting: This would include process, job and contract costing, costing of overheads, standard and variance costing and budgetary control. Income tax: This would encompass the nature and basis of charge of income tax, tax planning, tax deduction, incomes not taxable etc. Auditing: This would deal with vouching, valuation and verification of transactions, assets and liabilities. It will also include studying the auditing of different organizations like clubs, hospitals and charitable concerns. Business finance: This would include in its scope financial analysis as a diagnostic tool, the management of working capital and its components as well as capital structure leverages. Business law: This subject would discuss the different laws in India relating to, among others, theCompanies Act and the Consumer Protection Act. Marketing: This subject would deal with products, pricing methods, promotion, channels of distribution, logistics etc.
  32. 32. Business communication: This subject focuses on the art of business correspondence --businessletter writing, memo writing, notices etc. Our team of researchers at National Network of Education (NNE) has compiled information on various career options available with Commerce field. To know complete details about the subject of your choice and what career prospects a particular subject offers, Click Here
  33. 33. Indian Structure of Commerce Education In India, commerce as an educational stream is first opted at intermediate level i.e. at 10+2 level or after class 10th. At under graduate level, one can either study a bunch of subject to earn a B.Com. General degree or can opt for a particular subject as major to earn a B.Com. Hons. For example, if a candidate chooses to study Accountancy as major at Bachelors level then B.Com. (Hons.) in Accountancy is awarded. The student who makes outstanding performance in the final examination is awarded with distinction. As part of post graduate studies, a candidate chooses to do specialization from the subjects that he / she have studied as part of Under Graduate studies; Commerce, / Accountancy, Business, / Finance etc . Master of Arts (MA) is awarded in the relevant subject. Thereafter one can go for research studies viz. M.Phil. and Ph.D. Honorary doctorate degrees are awarded for outstanding contributions in particular fields of study or work. Availability of professional courses in commerce makes it quite separate from conventional disciplines like literature and music. The knowledge of commerce also helps students who want to pursuemanagement studies at a later stage (after graduation). There are quite good numbers of Universities / Institutions / Departments across the globe offering programs in Commerce through dedicated departments of Commerce. The number of universities offering traditional programs in commerce in India is more than 300. A number of Apex Organizations both in India and Overseas are also involved in providing education and training in commerce at various levels like Certificate, Diploma, and Degree etc. The qualification earned from a professional organization makes a person eligible to practice the profession. The universities and professional bodies conduct entrance examinations / qualifying examinations like, Under Graduate Entrance Test (UGET), Post Graduate Entrance Test (PGET) etc for admission. However, in some cases direct admissions are also offered to students on the basis of marks obtained in the last qualifying examination. Some universities / institutes / colleges / departments conduct written test, interview, group discussions etc for admission. The admission criterion varies largely depending on the institute / department profile, course popularity, marketability, and the number of applicants etc. The Indian Universities / Institutions and Colleges offers admission into different B.Com and M.Com degree programs, or research programs etc according to guidelines laid by the University GrantsCommission (UGC), Ministry of Commerce and Industry and Ministry of Human Resource Development(MHRD) of Government of India.
  34. 34. Traditional Programs: Following study programs are offered by different university departments and colleges in India. Intermediate in Commerce (Class XII): This is the preliminary stage (senior secondary level) where students get basics of commerce education. This is a two year course offered by various central boards (viz. CBSE, ICSE), state boards and councils. Eligibility Criteria: A candidate must have completed 15 years of age and 10 years of schooling during the time of admission for this program. Under Graduate (UG) Programs: In general, B.Com. (Bachelor of Commerce) is awarded under this program. There may be two options. One can simply take up BCom as a pass course or can take up with honours. Eligibility Criteria: A candidate must have completed 17 years of age and 12 years of schooling during the time of admission for this program. Candidate also requires fulfilling the eligibility criteria laid by the University / Institutions / Departments in which he / she seek admission. Post Graduate (PG) Program: In general, M.Com. (Master of Commerce) in relevant discipline is awarded under this program. One has to choose a specialization in a particular subject of his/her choice. Eligibility Criteria: A candidate must have completed Bachelors’ Degree during the time of admission. He / she also require fulfilling the eligibility criteria laid by the university department in which admission is sought. Master of Philosophy (M.Phil.): This is pre doctoral program offered by various university departments. Generally admission to this program is offered on the basis of Interview and past academic record. Eligibility Criteria: This program is offered to candidates who shows research aptitude and who have good academic record. The minimum eligibility criterion for admission into this program is M.Com. in relevant discipline. Doctoral Programs: Doctor of Philosophy (PhD) is awarded under this program. The degree is awarded in the area in which candidates carry out research and submit thesis work. Eligibility Criteria: Most university departments asks for M.Phil. for admission into this program. Qualification in National Eligibility Test (NET) is largely accepted for admission. Besides, candidates also require fulfilling the eligibility criteria laid by the concerned department. Candidates havingprofessional qualification also claim eligibility for PhD admissions. Please note: - In the present scenario many Management related programs like BBA, MBA (Finance, Accounting etc.) can be considered as part of Commerce streams and can be termed as commerce related programs – though there is no strict definition or guidelines available for the same. List of such programs can be seen at www.indiaeducation.net/management
  35. 35. Professional Programs Professional Education in Commerce is offered through various professional organizations in India and Overseas. A tentative detail of professional qualifications available through different agencies by their profession is mentioned here. Get exact details about these programs by clicking on your choices below- • • • • • Accounting Banking Chartered Accountants (CA) Company Secretary (CS) CWA (Cost and Works Accountancy)
  36. 36. Accounting To get complete details on this Career Option, CLICK HERE ! Introduction | Courses and Eligibility | Career prospects | Salary | Institutes Introduction Accounting is the branch of commerce which deals with the study of those aspects which help in keeping financial records, summarizing, reporting, and analyzing financial transactions etc. An accountant's work can range from auditing, which is the formal analysis of an organization's financial statements, to the daily bookkeeping that ensures the accounts are hunky dory. An accountant makes sure that a corporation is telling the financial truth to its shareholders, an individual is coming clean on his tax returns, or a company has been paid all of its outstanding accounts. TOP Courses and Eligibility Accounting is taught right from the intermediate class. In degree level the subject is taught with much emphasis. One can take it as a pass subject or an honours subject at the degree level. After completing BCom one can do M.Com with specialisation in Accounting and finance. Note: Computer accounting courses are now a days very much popular due to its large employment opportunities. The computer accounting package like Tally is quite useful for doing accounting works in offices. Hence young intermediate or graduate after pursuing these courses can directly enter to a private company as junior accountant. TOP Career prospects With the rapid growth of banking and financial sectors in the country, the demand for skilled accountants
  37. 37. has also been increased considerably. Today the world of finance and investment banking attracts many top graduates to this field. There is an array of career opportunities to suit all interests including traditional auditing and assurance work, management consulting, corporate finance, IT consulting, tax planning, human resources (HR) and insolvency. The same is true for the large investment banks and financial institutions. After gaining their professional qualifications, many accountants move into senior management positions in large firms. The Chief Executive Officers (CEOs) in many of the India’s leading companies are qualified accountants. All Finance Directors (the step down from the CEO in the corporate hierarchy) are accountants. Accounting graduates can hold positions as follow: Staff Accountant: This is an entry-level job, usually at public accounting firms. Accountants sometimes go into the audit pool, which is a large group of accountants who get picked out from time to time to work on audits under the supervision of a senior, usually a chartered accountant. Typically, freshers get the easier audit assignments, namely, cash accounts, for instance, leaving the Swiss bank accounts and money-laundering operations to older hands! In private accounting, the staff accountant may have responsibility for managing particular accounts, such as accounts receivable or accounts payable. Internal Auditor: In this line, you'll basically do for a company what a public accountant does for the public record: make sure that the value is where it should be. It used to be a position one would cut their teeth on before moving up, now accountants are staying at this level longer. Budget and Credit Analysts: The budget section of an organisation usually plans and manages corporate finances for the entire year or longer. The government also employs thousands of budget analysts to do the same type of work for public programmes and expenditure. Credit specialists focus on whether or not customers or institutional clients can repay a loan or credit line. Banks and other financial institutions are the biggest employers of such analysts. Senior Accountant: This is the level when you begin to live a little comfortably. It is the second level in the public accounting hierarchy. After a year or two at a public accounting firm, your paycheck improves and you might get sent out alone to run an audit. This is also when a lot of accountants, as many as eight out of 10, leave their firms for some form of private corporate accounting. Controller: Here is where you begin to be more of a rudder for the organisation, taking on more and more decision and strategy-making responsibilities. The responsibilities and pay will vary considerably depending upon the size of the firm. Controllers generally leave most of the actual number juggling to junior accountants and take a more strategic role in the support side of the business, planning the allocation of various funds throughout the company. Manager: Okay, you're reaching the top now. If you get to this point, the firm thinks you're partner material and you're probably giving the idea some serious thought yourself. You don't do as much hands-on auditing anymore, although managers often handle sensitive issues such as an important client's creative bookkeeping. Mainly, you plan and assemble audit teams and allocate various jobs. In most cases, this is a five-to-seven-year test with significant competition from your peers, who are also on the partner track.
  38. 38. TOP Salary Owing to rapid strides in the field of science and medical industry, today biochemist professionals symbolize success and quick career growth. As a trainee, one can start with a salary of Rs.8000Rs.150000. one can command a higher salary as the experiences raises, generally MNCs and private companies pay higher. TOP Institutes There are large number of colleges and universities in India offering Bachelors and masters degree courses in Commerce with specialisation in Accounting. The famous institutes for commerce in India are listed below. SRCC, Delhi LSR, Delhi Loyola College, Chennai St. Xavier’s College, Kolkata Christ College, Bangalore Madras Christian College, Chennai Symbiosis Society’s College of Arts & Commerce, Pune Presidency College, Chennai St. Joseph’s Bangalore Hansraj College, Delhi Ravenshaw University, Cuttack, Presidency College, Kolkata Orissa Delhi School of Economics (University of Delhi) DOU21112007
  39. 39. Banking Introduction Eligibility Job Prospects Where To Apply Most people like to save something for our future lives or hard times, which people sometimes encounter during their life span. . On the other hand there are some people who need finance to start new ventures or expand their existing business. This is where the banking services step in. A bank mobilises people's surplus money to meet the objective of national economic growth. Today banks not only serve as savings bank but also render many more services such as to provide safe custody for our valuables, to lend money against property, to accept deposits, to issue traveler cheques etc. Banks provides employment opportunities to men and women both. TOP For seeking entry into banking services a candidate must at least be a graduate with fairly high marks. Recruitment for the public sector banks is done through the Banking Service Recruitment Boards (BSRBs). The advertisements for recruitment appear in all major national newspapers as well as the Employment News. Recruitment is done on the basis of a written test, which consists of: a) Test of Reasoning b) Quantitative Aptitude c) General Awareness d) English Language e) Descriptive Test The test is qualifying in nature and the marks obtained are not added in the final merit list. Except for the descriptive portion, all other sections contain objective-type questions. In Reasoning, there are verbal and non-verbal sections. In English, the
  40. 40. test is aimed at judging the overall comprehension and understanding of the language. The descriptive paper can be answered in English or Hindi. It is meant to judge the written expression of the candidates. While recruitment in nationalised banks is done through the BSRB, recruitment in private banks is direct. The jobs are considered more glamorous as most private banks give preference to high value accounts. One may be able to join these banks after putting in a few years of service in a nationalised bank. However these banks give preference to MBAs and Chartered Accountants who can find direct recruitments as officers. Lower down the line, fresh graduates can hope to find jobs as clerks, marketing executives, personal banking executives and home banking executives. TOP Banking has emerged as one of the most challenging sectors in our country today. Openings are available at various levels, from clerks to Probationary Officers (PO). Apart from people with commerce or management backgrounds, the banks also recruit engineers and agriculture graduates, for specialized jobs in the rural areas and industrial belts. What is more, banks hire doctors for the supervision of the health of all its employees. TOP A banking job aspirant can do specialised courses in banking from a number of universities such as: University of Madras, Centenary Buildings, Chepauk, Chennai-600005, The Aligarh Muslim University, Aligarh-202 002, Ravishankar University, Raipur-492 010 Guru Ghasidas University, PO Koni, Bilaspur-495 009. Maharishi Dayanand University, Rohtak-124 001.
  41. 41. Chartered Accountancy To get complete details on this Career Option, CLICK HERE ! Introduction | Courses & Eligibility | Career prospects | Remuneration | Institutes Introduction Chartered Accountancy is a rewarding profession where one can practice his/her own or can do jobs in various public and private sector companies. The areas of work include accounting, auditing, corporate finance, project evaluation, company and other business laws, taxation and corporate governance. The multifaceted knowledge a chartered accountant enjoys through unique academic programme blended with practical training is what the business and industry need in the advent of liberalisation, privatization and globalisation of Indian economy. Chartered Accountants are better equipped to discharge accounting and audit functions in a computerized business environment. In recent times, all over the world, accountancy has grown in popularity as a lucrative profession. Wherever there are makers and users of money, (however, small their individual business may be), the services of a CA are required. Moreover, under the Companies Act, only CAs in professional practice are entitled to be appointed as auditors of companies in India. TOP Courses & Eligibility A chartered accountant is a person who is accepted as a member of the Institute of Chartered Accountantsof India (ICAI) after having passed the final examination for the chartered accountancy course conducted by the institute. A candidate who desires to become a member of the Institute of Chartered Accountants of India (ICAI) and thereby a practicing chartered accountant must: (a) Clear the intermediate and final examination of the institute. (b) Register as an articled or audit clerk with a practicing chartered accountant. (c) Register with the board of studies of the institute. In order to be eligible for appearing in the intermediate and final exams of the institute, the aspirant must
  42. 42. have successfully completed and passed the foundation course. Most chartered accountants are commerce graduates with good percentage of marks. Registration to the foundation course of one-year duration is open to those who have completed 10+2. The foundation course can also be taken up simultaneously with graduate or postgraduate studies. Commerce graduates with 50% marks, non-commerce graduates without maths, with 55% marks and noncommerce graduates with maths and an aggregate of 60% marks are exempted from the foundation exam and are permitted to register as articled clerks for practical training. TOP Career prospects A career in CA is highly challenging and rewarding. Aspirants should have excellent analytical skill to boost. There is maximum career growth in this field and one will get utmost level of job satisfaction and remuneration in this field. The training for CAs is a highly elaborate procedure. Aspiring chartered accountants should pass the intermediate exam within ten years of the commencement of their practical training. After successful completion of the final exam, the aspiring CA can apply for membership of the ICAI. All members are deemed Associate members of the institute. Associate members who have been in practicefor a minimum of 5 years and possess the experience prescribed by the council for this purpose are entitled to apply for Fellowship. Chartered Accountants are sometimes appointed as executors under a will or trust in order to carry out the administration of an estate or settlements. On such assignments, they are often required to work in cooperation with solicitors and lawyers. CAs also perform functions under special positions such as directorships of companies, arbitrators for settling disputes, handling work related to insolvency, bankruptcy, etc. They are free to go in either for professional practice or to be employed by the industry sector (private companies, public sector undertakings, etc.)
  43. 43. TOP Remuneration The remuneration of a salaried CA professional in corporate sector is very high. The salary varies between Rs.25, 000 and 1.5 lakhs per annum. Individual with a CA qualification is treated the same with a person having MBA qualification in Finance. Similarly one who runs his/her own firm can also earn handsome of money. He/she can conduct auditing works in various companies. TOP Institutes The CA course is conducted through lectures and postal tuitions by the Institute of Chartered Accountantsof India (ICAI), head-quartered in New Delhi. The ICAI has five regional offices at Mumbai, Calcutta, Chennai, Kanpur, and New Delhi, with 81 branches to these regional centres. For more information about ICAI, click here
  44. 44. Company Secretary To get complete details on this Career Option, CLICK HERE ! Introduction | About ICSI | Career prospects | Remuneration | ICSI Offices Introduction A Company Secretary is a professional whose role in a corporate set up is that of an advisor for legal matters. As per the Companies Act, a statutory requirement is that companies with a paid up share capital of a minimum of Rs.50 lakh are required to appoint a Company Secretary. Company Secretary is a veryimportant member of the corporate management team. He/she assists the efficient management of acorporate body. The skills and attributes required for a company secretary is such that he/she should be accountable for efficient management of the corporate sector. He co-ordinates and assists various departments of the organisation, ensures compliance of company legislations and advises directors on statutory requirements of the company. The Institute of Company Secretaries of India (ICSI) offers courses in Company Secretary. To become a professional company secretary in India, individual must pass the following examinations conducted by the ICSI. These are: • The Foundation Course • The Intermediate Course • The Final Course After successful completion of the above courses, the individual undergoes practical training to become a member of the Institute of the Company Secretaries of India after which he is considered as a Professional Member of the ICSI and is also issued a membership number. TOP About ICSI The Institute of Company Secretaries of India (ICSI) is constituted under the Company Secretaries Act, 1980 (Act No. 56 of 1980) to develop and regulate the profession of Company Secretaries in India. It was in 1960
  45. 45. that the Company Law Board started a course in company Secretaryship leading to the award of government Diploma in company Secretaryship. As the number of students taking up the company Secretaryship course swelled, the government promoted on 4th October 1969, the Institute of Company Secretaries of India under Section 25 of the Companies Act, 1956 for taking over from the government the conduct of company Secretaryship examination. Since then the Institute of Company Secretaries of India has been converted into a statutory body with effect from 1st January 1981 under the Company Secretaries Act, 1980. It is a recognised professional body formed to develop and regulate the profession of company secretaries. It is the ONLY institute which offers this course and awards the certificate bestowing the designation of company secretary to a candidate qualifying for membership of the institute. The institute has its headquarters at New Delhi and has four regional offices at Kolkata, Delhi, Chennai and Mumbai. In addition, there are 36 chapters and 10 satellite chapters located all over the country. TOP Career Prospects Pursuant to Section 383 A of the Company Act, 1956, companies having a paid-up share capital of Rs. 50 lakhs or more are statutorily required to appoint a company secretary. Also all companies seeking listing on stock exchange are required to have a full-time qualified company secretary. A qualifiedcompany secretary is a competent enough to take up wide range of responsibilities in legal, secretarial, finance, accounts, personnel and administrative departments of companies or other organizations in the private and the public sector. Almost every kind of organisation whose affairs are controlled by boards or councils and other corporatestructures be it a co-operative society, association, federation or statutory authority, finds it beneficial to appoint a qualified company secretary. Initially the career may begin with designation of a Junior Secretarial Officer. Depending upon the experience and hard work it can rise up to senior level positions of Company Secretary and even Finance Advisor. While a Company Secretary can aspire to get employment opportunities in government accounts or law departments, he/she can become a Chairman or Managing Director of a Company or be a part of the esteemed Board of Directors of a Company. The salary of Company Secretary or TOP Secretarial Officer depends upon his/her experience. The remuneration of a salaried CS professional in corporate sector is very Remuneration high. The salary varies between Rs.25, 000 and 1.5 lakhs per annum. Individual with a CS qualification is treated the same with a person having MBA qualification in Finance. The CS professionals are also appointed as financialadvisor in big companies. TOP ICSI Offices Head Office ICSI House, 22, Institutional Area Lodhi Road, New Delhi 110 003 EPABX LINES: (011) 41504444, 24617321-24-, 24644431-32, Fax: 24626727 Website: www.ICSI.edu
  46. 46. Regional Offices Mumbai 13 Jolly Maker Chambers; No. 2 (IST FLOOR); Nariman Point Mumbai - 400021 New Delhi ICSI-NIRC Building Plot No.4; Prasad Nagar Institutional Area; Near Rajendra Place New Delhi - 110005 Chennai ICSI-SIRC House, New No 9 (old no. 4),; Wheat Crofts Road; Nungambakkam Chennai - 600034 Kolkata ICSI-Eirc Building; 3-A, Ahiripukur, Ist Lane; Near Beck Bagan Nursing Home Kolkata - 700019
  47. 47. CWA Introduction | Courses & Eligibility | CWA as profession | ICWAI – contact details To get complete details on this Career Option, CLICK HERE ! Introduction Cost and Works Accountancy (CWA) is a new branch of study in the field of commerce and business and is a profession ushered in during the last century. With increase in competition and consequent economic pressures, cost and management accountancy has been finely interwoven into the main fabric ofmanagement. Collection, assimilation, collation and analysis of financial information from all areas of an organisation are the functions of a cost accountant. The role of a costs and accounts manager in an organisation is so vital that the success or failure story depends on his/her quality of information made available to the management. Cost Accountant can facilitate strategic decisions in respect of diverse economic activities of an organization where he/she is employed as an employee or deployed as consultant. Institute of Cost and Works Accountants of India (ICWAI) is a premier, dynamic, vibrant professional institution actively associated in providing training programs in the field of costs and account managementand thereby helping in the industrial and economic development of the nation. The ICWAI has opened up further scope and tremendous opportunities for Cost and Works accountants to shoulder responsibility as Cost and Management Accountants in accordance with new dimensions and vision here in India and abroad. Members of this profession will be the driving force in the team ofmanagement while in employment and a key consultant, an effective Cost and Management Auditor and an appropriate advisor in place. This is why Cost Accountants in India are called Management Accountants all over the world. TOP Courses & Eligibility ICWAI offer Cost and work accountant programme for all the students wishing to make a mark in this field. The programme is divided into three stages-Foundation, Intermediate and Final. For each stage the student have to appear for a separate exam. For more information about ICWAI and its courses, click here
  48. 48. TOP CWA as profession Job Opportunities Members of ICWAI are being absorbed as Chairman, Managing Director, Finance Director, Chief Executive, General Manager, Finance Manager, etc. in many Public and Private sectors organizations and also in the Government departments. There is an existing Cost Accounting Service in Central Govt. named as Indian Cost Accounts Service, which is at par with the Class I Services of the Government of India. Independent Practice Cost Accountants can practice in the following areas: • In mandatory Cost Audit under Section 233 (B) of the Companies Act, 1956. • Certification under Export & Import Policy. • Excise Audit under Section 14A of the Central Excise Act and Special Audit of Certification Of manufacturing account as per Customs Act. • Consultancy Assignments. Academic Opportunities The Association of Indian Universities {AIU} resolved on May 28, 1991 that Bachelor Degree holders, who have passed ICWAI Final Examination be allowed by the Indian Universities to register for M.Phil and Ph.D. in Commerce and allied disciplines. Since then the Institute is approaching different Universities to make necessary provision in their respective Rules so that Members of ICWAI having Graduation qualification can register for Ph.D courses in Commerce and allied areas. Till now some 35 Indian Universities have approved the course offered by ICWAI. As the Final Examination of the Institute of Cost and Works Accountants of India has already been recognized by AIU, they do not anticipate any difficulty to be faced by the ICWAI candidates in the matter of acceptance of their qualification as sufficient for registering for Ph D/M Phil. All India Council for Technical Education decided that Fellow members of the Institute will be treated at par with the persons holding Ph.D. degree as far as appointment in the posts of Professor, Associate Professor, Reader, Asst. Professor and Lecturer in Professional/management Institutes are concerned. Universities which have already recognised the membership of the institute of cost and works accountants of India as sufficient qualification for pursuing PhD. Courses are: 1 Sardar Patel University ,P.B. No. 10 ,Vallabh Vidyanagar -388 120 2 Guru Nanak Dev University , Amritsar. 3 South Gujarat University ,University Campus Udhana – Magdalla Road ,Surat -395 007 4 Moharshi Dayanand University ,Rohtak 5 University of Poona ,Ganeshkhind ,Pune -411 007 6 Punjab University , Chandigarh -160014 7 Nagpur University, Nagpur 8 Meerut University , Meerut 9 Mangalore University ,Office of the Mangalore University Light House Hill ,Mangalore -575 003 10 University of Kerala , Trivandrum 11 University of Mysore ,Viswavidyanilaya Karya Soudha Crawford Hall ,Mysore -5 12 Cochin University of Science & Technology , Cochin 13 Shivaji University ,Vindyanagar ,Kolhapur -416 004 14 University of Bombay , Mumbai -400 032 15 Sri Venkateswara University , Tirupati Andhra Pradesh 16 Varanasi University , Uttar Pradesh 17 Karnataka University , Karnataka
  49. 49. 18 Osmania University , Hyderabad -500007 19 Madras University , Chennai 20 Punjabi University , ,Patiala 21 North Maharashtra University, Jalgaon 22 Yashwantrao Chavan Maharashtra Open University , Nasik Maharashtra 23 Alagappa University , Karaikudi 24 Bangalore University ,University City Campus ,Bangalore -560 001 25 Tezpur University , Tezpur 26 Guru Ghasidas University Bilaspur , Madhya Pradesh 27 Vikram University , Ujjain 28 Manipur University ,Canchipur ,Imphal -795 003 29 Pondicherry University , Pondicherry 30 Vidyasagar University , Midnapore 31 Madurai Kamaraj University , Madurai 32 North Gujarat University ,Rajmahel Road P.B. No. 21 33 Sambalpur University ,Jyoti Vihar Burla ,Sambalpur -768 019 34 The University of Kashmir , Srinagar 35 Gauhati University , Guwahati -781 014 TOP ICWAI – contact details The Institute of Cost & Works Accountants of India 12 ,Sudder Street ,KolKata - 700 016 Phone: 033-2252 1031/34/35, 22521602, 22521492 Fax: 91 33 2252 7993 / 91 33 2252 1026 Email: sdicwai@vsnl.net Website: www.myicwai.com Delhi Office 3, Institutional Area Lodhi Road, New Delhi - 110003 Phone: 24622156, 24618645 Fax: 24622156
  50. 50. Email: icwai@vsnl.com Website:www.myicwai.com
  51. 51. areer Options with Commerce Education Educational career directly links with professional career. However in some cases it is not true but in most cases one who opts for a particular academic program wants to do jobs in that field. Hence the decision should be taken at the very beginning of the intermediate level. Students who have an interest in working with numbers, and enjoy reading and analyzing numerical data and who aspire to make a career in the financial and business world are ideally suited for commerce. One who prefers Commerce as a field of study can make career in the following subjects. Please click on any of the following career options to know the details about that particular field. • Economics • • • • • • • • • Mathematics and Statistics Accounting Banking Chartered Accountants Company Secretary CWA Stock Broking Agriculture Economics Management
  52. 52. Stock Broking To get complete details on this Career Option, CLICK HERE ! Introduction | Eligibility & Attributes | Career prospects | Institutes Introduction Stock Brokers are the professionals who are involved in buying and selling of securities for individuals or institutions in stock markets. As there is ample scope in this field, individuals can hope for a better future. Today's progressive brokers deal in billions rather than in millions. Brokers now have all their operations computerized and employ qualified industry specialists to advice on buying and selling of stocks. Stock markets in India have gone through tremendous improvements in recent time with the introduction of various norms. These norms are for greater transparency in operations and the international trading and investment process. Indian stock exchanges, today, are dealing with big numbers and big buyers. The capital markets are undergoing transformation. The National Stock Exchange or NSE provides nationwide facilities with access to investors all over the country. The automated, screen-based trading system using state-of-the-art technology makes market operations transparent. The Securities and Exchange Board of India (SEBI) has been empowered by an Act of Parliament to protect the rights of investors and ensure the promotion and regulation of the capital markets. It is the regulatory body in charge of the country's capital markets. TOP Eligibility & Attributes The minimum educational qualification required to become a stock broker is a graduation with at least 2 years of experience in a stock broking firm. A sub-broker, the previous stage of being a broker needs to have passed the class 12th standard to be eligible for his job. Courses in stock broking and capital market and investment, investment planning and several other related courses are offered by few training institutes in India. Stock broking business requires the services of specialists (in varied fields) - economists, accountants,finance managers, financial analysts, capital market specialists, and investments and financial

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