To address the growing global opportunities and challenges in a fruitful Manner, Organizations need quality Management Talent. There has been a rapid expansion in the number of institutions in the Country, Catering to the Growing need of industry for Management talent. The PGDM must address the Relevant issues with appropriate Structure of Program, and Coverage of Topics and Domains, to fill the Organizational Gap for Management Talent. However this has been an area of Concern, As there is Great Diversity in the Quality and Coverage Of PGDM Programs Offered By The AICTE Approved Institutions.
It Was Proposed that the Program Leading to the Post Graduate Diploma In Management be defined as a Full Time, Two Year Post Graduate Program. The essential Qualification for Students Desirous of Studying the PGDM Would be an AIU Recognized Bachelor Degree Or Equivalent. The Program Would Attain The Standards Of Study, Depth and Coverage Suitable for Post Graduate Studies. The Successful Completion of the Program After Meeting all Prior Statutory Requirements Stated for the Program, would Lead to the Award of the Post Graduate Diploma In Management (PGDM).
The Program Objectives are to Provide a General Management Perspective to the Candidates, with an appreciation of the theoretical frameworks, Analytical Methods Required for functioning effectively and efficiently as a member of the Management Group, At Entry Level Executive Onwards.
MIMs two-year Post Graduate Diploma in Management is designed to push students to go beyond their constraints and redraw their boundaries to achieve excellence in business. Every aspect of a student’s life in the two-year period involves decision-making – with its consequent results. PGDM exclusively designed for entrepreneurs, entrepreneurial managers & family business successors by the amalgamation of the insight and experience of well known industry and management professionals. The PGDM course delivers practical work experience, practical courses and practical skill-sets that are needed to create future-ready careers. This rigorous course is based on experiential learning and makes use of the case-study approach to simulate situations which the future managers might face in the real world. The program is affiliated by AICTE as equivalent to an MBA degree. Specializations offered under this course include: Marketing, Operations, Human Resource, Finance, IT and General Management and so on.
MBA vs. PGDM: Understanding the Difference
With the rise of corporate culture as well as encouragement to entrepreneurship in India, more and more students are opting for management studies. There is no dearth of institutes and universities offering postgraduate programs in management. In fact, Delhi & the NCR regions have close to 3,500 management institutes offering a wide range of courses all under the same academic bracket – MBA in Delhi. However, Indian students often find themselves faced with the choice of two such courses, namely MBA and PGDM.
Candidates are often unsure about the difference in titles as well as content. This leads to much confusion regarding which course one should opt for, and why. Here’s your guide to understanding the difference between the PGDM and MBA courses in India -
Decoding the Terminology
Although both courses essentially train you for managerial and leadership positions, there are quite a few technical differences. Perhaps the most striking among these are the formal names of each. What is MBA? - MBA, short for Master of Business Administration, is a post graduate degree. On the other hand, PGDM, which stands for Post Graduate Diploma in Management, it is a diploma course.
Check out our popular post on one year MBA programs.
Affiliation and Accreditation
As MBA is a degree, it can only be offered by universities and institutes affiliated to universities. Their curriculum is accredited by the University Grants Commission (UGC). On the other hand, autonomous bodies like IIMs are not authorized to offer a degree. Therefore, their course, the Post Graduate course in Management is recognized as a diploma and is regulated by the All India Council for Technical Education (AICTE)
As mentioned earlier, while both courses aim to train you in management and administration, their approach differs significantly. While an MBA course tends to be more theoretical, a PGDM focuses on the technical aspects, providing exposure to real-life business situations. Also, a PGDM is very different than a one year PGP offered by many private institutes all across India. Another advantage of a PGDM is, as it is offered by autonomous institutes, the curriculum can be upgraded more frequently to include the new changes and trends in business management.
However, if you wish to pursue higher education abroad, a PGDM is considered to be a diploma, while a university-affiliated MBA is counted as a degree, giving you a better standing.
How it Impacts You Professionally
In India, as well as overseas, both MBA and PGDM courses are regarded as having equal value when it comes to career prospects. Having a PG diploma instead of a degree is certainly not considered to be a drawback. In fact, it is the reputation of your university or institute and more importantly, your professional capabilities that truly matter.
Now that you have a better understanding about the differences between the two programs, evaluate the courses and choose as per your academic and professional preferences.
1. Industry-integrated syllabus
Unlike MBA, the syllabus of PGDM is closely related to industry practices and trends. PGDM course is offered by autonomous institutes, which are not affiliated with any university. Hence, the curriculum is updated frequently as per the changing business trends. The students learn the new and ongoing concepts of entrepreneurship.
2. Inter personal growth
A PGDM course enhances the communication and interpersonal skills of the students. The Indian education system does not focus more on communication skills right through school life. We are a country of many; children are not encouraged to be opinionated. We are hard-wired like that; parents and teachers focus more on grades. However, a PGDM program develops decision making skills and analytical thinking in every student.
3. Corporate ready
A PGDM program prepares the students for the forthcoming challenges and roadblocks in the business world. There are not only classroom lectures, but a lot of exposure to the real world. The professors are mostly industry leaders or entrepreneurs. The summer internship program and the international industrial tours enable the students to gauge the present business scenario. They can translate the theoretical concepts to reality once they start their journey in the corporate world.
4. Placement opportunities
An AICTE approved PGDM course will pave the way for umpteen placement opportunities for the students. The employers always prefer students with some wacky and out of the box ideas, who can perceive roadblocks as challenges and opportunities. For the recruiters, a management degree is just an entry pass to appear for an interview. To get a well-paid job and sustain in it, one is expected to be a performer. A PGDM prepares the students to develop a go-getter attitude.
5. Be your own boss
A start-up is the dream of many young management graduates in the country. PGDM course surely helps to make it possible. Once a student has an esteemed degree and is well aware of the nuances of the corporate culture, it is not very difficult to kick start a business. All those who wish to have creative freedom and make profits for themselves, a management degree can be the first step.