Management is one of the most important courses when it comes to the world of business administration and commerce. Management courses bring forth a lot of experience in the professional domain. Empirical extensive skills pertaining to the working and operations of businesses and precise application in real-time corporate environments are the highlights of degrees like MBA, BBA, and PGDM extend endless avenues. PGDM is one of such courses which render an individual with all the necessary tools to succeed in business.
PGDM is essentially Post Graduate Diploma in Management, while MBA is a Master’s in Business Administration- One is a diploma course while the other, a master’s degree yet both hold a lot of significance. Many colleges offer both courses. A lot of colleges such as NIET, Noida, and Sage University, Indore offer both courses.
PGDM: How it is shaping modern business studies
PGDM courses are highly popular and desirable amongst students with a lot of IIMs offering great programs which develop an overall business aptitude. Understanding the key difference between MBA and PGDM becomes important to be able to make an informed decision. MBA has been one of the more conventionally popular choices, but the latter seems to be catching up in the modern context. The major difference between PGDM and MBA is that the latter, MBA is a degree course that is primarily offered by the colleges affiliated to universities like Sage University Indore, whereas PGDM is a diploma course that is offered only by autonomous institutes.
Major distinctions between PGDM and MBA- Pointers
It becomes crucial to understand the different scales at which a student can pursue management and PGDM and MBA provide variability in that domain. The key differences between the two are:
1. Academic Approach- Essentially, the core subjects are the same for both the degrees, but the key difference between PGDM and MBA appears in the approach of how they are taught. Where MBA is directed towards more theoretical aspects, PGDM courses are more hands-on and practically focused. PGDM in colleges like NMIMS and Sage University, Indore has a feedback-based evolving course structure, improving in accordance to the industry standards.
2. Fee Structure– When it comes to the fee, PGDM weighs a little heavier than the theoretical MBA. It is not a consistent observation and in some places, the statement might be the opposite. In a general sense, MBA universities with direct access to grants and unconditional government support are able to pull out the money they need to run the institution as compared to the independently- run PGDM institutions.
3. Syllabus– MBA course curriculum is designed by the university and will be more or less the same in all MBA colleges affiliated with the same university. On the other hand, PGDM courses are crafted by individual institutions and thus provide a certain amount of flexibility and particular freshness to the course and subjects. The contents of the curriculum can be updated in accordance with the industry requirements as there are constant changes in the way practical businesses are run!
4. Innovation and Education– Another difference between PGDM and MBA courses is that PGDM courses are more practically inclined and holistic when it comes to overall learning. With cases, workshops, presentations, short-term training, and an emphasis on finding practical solutions to all problems, PGDM ranks above the more conventional and theoretical MBA courses.
5. Examinations- PGDM institutions are authorized by an approving body like AICTE to host and conduct exams, while MBA exams are conducted by the university and are much more uniform across all colleges of that university.
6. Ph.D. in Management- After an MBA, students get an opportunity to pursue PhD in Management. But since Ph.D. is a doctorate degree, that can only be registered for after completing a master’s degree, PGDM students will not be able to pursue PhD
Where to look?
The fact is that while some colleges offer both courses, some only focus on one. Although generally speaking, if an institution offers MBA, there are high chances they also offer PGDM. Here is a list :
● MBA– IIM-A, IIM-B, NMIMS, IIFT-Delhi, FMS-DU, JBIMS-Mumbai, IIT-DOMS -Kharagpur, Bombay, Delhi, Roorkee, Madras, Kanpur, and Sage University, Indore
● PGDM- Symbiosis, IMT Ghaziabad, NMIMS, XLRI, SPJIMR, IIM-Calcutta.
A developed university or college provides all the aspects for a good, well-rounded education. Don’t just focus on the degree, focus on the growth and learning. Colleges like Sage University, Indore and IIMs offer practically inclined, industry level MBA courses which are better than most PGDM from lower-tier colleges. Conclusion
A PGDM degree is starting to become increasingly popular amongst students as they realize that real learning takes place while doing and that’s the fun part of management! It can never be solely learned from hefty, dusty textbooks, but also through practical experiences.