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M.Phil or Master of Philosophy in Business Management is a postgraduate research degree awarded for carrying out research work in the field of business management, administration and commerce. It is normally a two years full-time program where students get specialized training in research methods to solve any business issue with practical solutions. The areas of specialization include finance, marketing, human resource management, operations management, economics, entrepreneurship, etc. It requires students to write a dissertation based on the research done in the final year to earn the degree.
The entrance test accepted for admission into M.Phil Business Management programs include UGC NET in Management or Commerce, CAT, GMAT and university tests such as research eligibility tests. Some institutes also require valid GRE or GATE score card along with the pass marks in post graduation like MBA or M.Com. Marks obtained in the personal interview round in evaluating the research aptitude and subject knowledge is also taken into account for final selection. Thus candidates with exposure in quantitative research area are preferred for this aggressive advanced research program.
| Full Form | Master of Philosophy (Business Management) |
|---|---|
| Duration | Typically 2 years |
| Course Level | Postgraduate |
| Eligibility | Master's degree in Business Administration (MBA) or related field |
| Top Colleges | Indian Institute of Management (IIM) Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, Kozhikode, Calcutta, Shillong, Rohtak, Ranchi, Indian School of Business (ISB) Hyderabad, Xavier Labour Relations Institute (XLRI) Jamshedpur, Faculty of Management Studies (FMS) Delhi, Symbiosis Institute of Management Studies (SIMS) Pune |
| Entrance Exam | Varies by college, may include entrance examination, group discussion, and interview |
1. Graduation in any discipline with a minimum of 55% marks in aggregate from a recognized university.
2. Standard entrance test such as CUET/university level examination with minimum qualifying marks.
3. Some universities may require a prior work experience of 2-3 years in the relevant field.
4. Certain attributes like verbal and written communication skills, analytical, and problem solving skills are required.
5. High interest in conducting research in management areas of specialization such as marketing, human resource management, finance etc.
6. There are universities, which look for certain percentage in common entrance tests like CAT/MAT/CMAT or even GMAT score for shortlisting the candidates.
| Subject | Important Topics |
|---|---|
| Research Methodology | Research design, data collection, data analysis, statistical techniques, research ethics |
| Advanced Management Theory | Strategic management, organizational behavior, human resource management, marketing management, financial management |
| Business Policy and Strategy | Corporate strategy, competitive analysis, industry analysis, strategic decision-making, strategic control |
| Innovation and Entrepreneurship | Innovation management, entrepreneurship theory, venture capital, technology commercialization |
| International Business | Global business environment, international trade, foreign direct investment, cross-cultural management |
| Social Responsibility and Sustainability | Corporate social responsibility, sustainability reporting, ethical decision-making, stakeholder management |
| Advanced Financial Management | Financial modeling, risk management, corporate finance, investment analysis, mergers and acquisitions |
| Advanced Marketing Management | Digital marketing, consumer behavior, branding, market research, sales management |
| Advanced Human Resource Management | Talent management, employee engagement, organizational development, leadership development |
| Advanced Operations Management | Supply chain management, quality management, lean manufacturing, Six Sigma |
| Thesis Research | Independent research on a specific topic within business management |
| Job Title | Average Salary | Specialization |
|---|---|---|
| Business Researcher | ₹6,50,000 | Research Methodology, Data Analysis |
| Management Consultant | ₹8,00,000 | Strategy Development, Operations Improvement |
| Academician/Professor | ₹7,50,000 | Teaching, Research, Publication |
| Business Analyst | ₹6,00,000 | Data Analysis, Business Intelligence |
| Market Research Specialist | ₹5,50,000 | Market Research, Consumer Behavior |
| Operations Manager | ₹7,00,000 | Supply Chain Management, Operations Optimization |
| Financial Analyst | ₹6,50,000 | Financial Modeling, Investment Analysis |
| Human Resource Manager | ₹7,50,000 | Talent Management, Organizational Development |
| Management Trainer | ₹6,00,000 | Training, Development, Coaching |
| Policy Analyst | ₹7,00,000 | Policy Development, Implementation, Evaluation |
