According to FT 2016 Global MBA Ranking, Best MBA program in the world is from INSEAD (Global MBA Rank -1 ), Best MBA program in Asia is HKUST MBA (Global MBA Rank -14 ), and Best MBA in India is IIMA PGPX MBA (Global MBA Rank -24 ). And what is common in these programs is that all three of them are One-year Programs. These rankings are just one of the few evidences of Growing popularity of One-Year MBA Programs globally.
As world of business is changing rapidly, world of business education is also changing to accommodate the business requirements and professionals’ aspirations. With the release of latest Global MBA ranking, there is little doubt that One-Year MBA Programs are moving fast to take over its two-year old cousins.
As globally business schools are recognizing the need to have participants with some work experience, MBA aspirants are also gradually understanding that to get most out of an MBA, they should have a substantial work experience and an appreciation for the organizational dynamics which would be taught in the class.
However in this changing demography of MBA aspirants, minimizing Opportunity Cost & Time (in terms of lost salary and work experience) is becoming as important as maximizing return on education expenses. And this is one of the major factors giving a boost to increasing number of One-Year Programs globally.
This growing trend towards One-Year MBA Program is one of the best opportunity Indian B-schools have to capture leading position in world of business education. However, Indian B-schools including IIMs are still not able to intercept this trend and therefore are not able to figure out a way to promote their new product (One-Year MBA Program) without diluting the brand created for their existing products (Two-year Management programs).
The awareness of Indian one-year MBA programs is extremely low in their own country. Even though ranked higher, no Indian b-school except ISB has put enough efforts in making their programs recognized in the corporate circle even in India. Top Ranked business schools like IIMA, ISB, and IIMB need to put genuine efforts in attracting international students and help INSEAD, HKUST, and NUS in shift the MBA hub from US to Asia.