Full Time vs Part Time MBA

“I have 3 years of work experience and now I am planning to enroll for MBA course to gear up for career in HR. What is a better option- a full time MBA OR a part time MBA Executive course?”

Someone asked me this question recently at a conference in Mumbai. The answer to this question is very subjective, and really depends on the priorities and constraints of that person. For example, not everyone can afford to cut off their supply of monthly income by leaving their job and study full time. But the question of full time vs. part time MBA is not just about sacrificing monthly pay cheque. There are other factors to be considered, and so I thought why not list out a couple of advantages and constraints of each of these options. The decision still has to come from the person asking this question, but as I always say- making an informed decision is any day better than blindly following a trend or following someone's ready made suggestion.

Learning Environment 

MBA Learning Environment

 Part Time MBA classes are conducted usually in evenings and over the weekend. During that time, which is by the way limited, classes are slightly fast paced as compared to full time. Other than assignments, projects and completing the syllabus, these students do not get much bandwidth to get involved in student organizations and extracurricular activities.

You might be thinking, so what? Extracurricular activities are not that important anyway- that's why they are tagged as 'extra'.
Learning environment of a good management institute comprises more than just faculty and syllabus. In fact, student organizations form a very important part of the learning ecosystem at the campus. Students involved in these groups get opportunities to develop leadership skills, hone their communication skills, improve problem solving ability and develop group/ team management skills. Full time management courses offer this most important benefit to the students.

Time Management 

Time Management Challenge

Part time management course along with job adds third dimension to the much debated and delicately balanced work and home life. The pressure is not just to manage time for classes, but for completing assignments, projects and of course self study- all of which are integral to any management course. Good news is that these days many organizations which promote and support career development of their employees make provision for part time or flexible work timing arrangements.




Networking

Management institutes like Jankidevi Bajaj Institute of Management Studies which offer part time diploma courses and Executive Mba part time in Mumbai mandate prior work experience as one of the eligibility criteria that offers one very nice benefit to its students- a ready-made professional network for life. On campus full time courses also offer networking opportunities, but of a different nature. Students get to attend various events within and outside the University. And time being on their side, they can join and actively get involved with industry associations like Bombay Management Association ( BMA ) or other collegiate meet-up groups to expand their network.

Application of Knowledge and Skills
Students of full time MBA get to apply the acquired knowledge and skills in the industry during internships or after completing their course when they get placed. Part time management students who are also working get to apply their class concepts in real time. What about students studying part time but not working. Do they get internship opportunities? Make it a point to clear that from the admission department of the shortlisted management colleges, because it depends on the institutes.

Specialization

Not all MBA specializations may be available in part time format. In that case you can consider part time diploma courses.

Conclusion

There are pros and cons of doing MBA full time versus part time. If the biggest advantage of part time MBA is that you don’t have to leave your job for your career development, then I think nothing beats the benefits of the rich learning environment and opportunities of overall personality development that full time MBA students get. After all, MBA is not a degree where only subject knowledge matters. Leadership qualities and effective communication skills are as important as the subject expertise in MBA.

MBA Career in Online Retail

Career of MBA in retail is not just about managing retail chains, as any naive retail management student would imagine. Retail has transformed thanks to the wave of e-commerce and has brought with it a tide of exciting opportunities for MBAs. 

Pick any Indian business newspaper any day of the week, and chances are that you'll find at least one piece of news related to e-commerce. It could be about Flipkart opening new fulfillment centers in Indian cities, or on how Apple plans to sell around half of its new phones in India through the online route.

Online buyers have become comparatively more comfortable with mobile technology, thanks to constant sale offers by e-retailers to increase their market share. What buyers see is just that they are getting attractive deals and offers, convenient modes of payments and fast delivery. But to materialize this, online retailers are reinventing almost all business processes and working out innovative business models for everything from sourcing to logistics. They are evolving at an unprecedented pace and for that they need people who can take a holistic view of the business, master a range of functions and help the retailer innovate. That's why these companies are recruiting MBAs with specialization in various fields.

Career in Retail- MBA Specializations

Firstly, have you thought why are these fast evolving and competitive retailers are flocking to management institutes and recruiting MBAs? Industry perceives MBA program as providing a comprehensive coverage incorporating all the important subject areas and teaching management techniques for handling business operations in a highly dynamic and competitive environment. Since technology has changed the consumer behavior and expectations, hence there has been a need in the market for young, tech savvy strategic thinkers.

To have a career in retail, options are not limited to MBA Retail Management specialization, but also in operations, supply chain, logistics and even data analytics. But retail on the verge of being disrupted by digital wave and digital being predominantly data driven, I think every MBA student eyeing this sector must build data analytical skills like marketing analytics, consumer analytics, merchandising and planning, demand and supply chain or predictive analytics. Today, there has been a paradigm change in the way savvy retailers connect with their consumers and meet their demands thanks to big data.

Conclusion

Players in retail sector especially in the online space need analytical thinkers who can understand business as a generalist and employ cross functional expertise. This is an exciting time to be in retail, offering long term cross functional exposure and growth opportunities especially to MBAs. MBA course is designed to train students to take a holistic view of the business and at the same time allows students to specialize in their area of interest. As far as MBA specialization is concerned, retail management, supply chain, logistics, sales and marketing, operations or even business analytics has huge scope to build a career in retail.