Get into IIM directly after Std XII – IIM Indore to launch an Undergrad program!

When a 50 year old tradition is broken, it is obvious that feathers are going to be ruffled. Whether this resonates well amongst student takers or not, only time will tell.

Waking up to the need of the hour, or so it claims, IIM Indore will be launching a 5 year integrated postgraduate program in management (IPGP) for students straight out of school in October 2011. In simple terms, it’s a dual degree – a heady mix of a 3 year BBA + a 2 year MBA.

This American style dual degree program is not very new, we’ve seen the IITs and many Indian Law colleges offer similar combination programs. The question is whether students of school are equipped to make a decision regarding the next 5 years of their life or not.

Do they know what management education will entail? Are they clear about what they will do with a management degree or is it just about getting through IIM and ending up with a great pay packet?

Let’s look at the features of this course to see if it’s really worth it to do this course or not.

Eligibility criteria:

• An aggregate of 60% both in Std. 10 and Std. 12 (or equivalent levels).
• Selection will be based on the students’ academic performance, scholastic achievements and performance in the aptitude test and personal interview. (Conducted in centers including Bangalore, Chennai, Delhi, Hyderabad, Indore, Kolkata and Mumbai)

Batch Size:

Launching in October 2011, the first batch will have 120 students. More infrastructure and faculty will be added for the subsequent years. IIM-I’s aim is to be able to invite 850 candidates for the entrance screening.

Fees:

Rs. 3 lakh annually for the first three years. Rs. 5 lakh annually for the next two years. This includes tuition fees. Expenses for boarding, lodging, field related visits, stationery etc. are additional.

Accommodation:

For the first three years, on campus accommodation will be organized on a sharing basis. From the fourth and fifth year onwards, single rooms per student will be made available.

Faculty:

The faculty will comprise retired and serving teachers of reputed commerce and science colleges in India. Industry experts and faculty members from central and state universities will also be invited to teach.

Curriculum Design

• 40% focus will on the following subjects
  •    Mathematics, statistics, logic and computer-science 
  •    Introduction to literature and political science 
  •    Civilization in history (national and international) 
  •    Exposure to biological sciences 
  •    Exposure to languages (one foreign language and one Indian language)
  •    Soft skills: leadership development, personality development, team work and communication, both written and oral 
• 50% focus on functional areas of management:
  •    Accounting 
  •    Finance
  •    Organizational behavior 
  •    Decision science 
• Remaining 10% focus will be on international exposure and internship in social organizations in India.

(Source: Education Times, August 2011)

Did you know that there is an exit option for students after they complete 3 years of the course? The condition is that those students will not get the full Bachelor’s degree – only an undergraduate diploma.

This is a bit of a catch. But students may want to overlook this by taking into consideration that they won’t have to face the kind of competition in entrance exams that they would have to, if they were applying to an IIM directly for an MBA.

The only valid criticism that this new offering from IIM-I has been getting, is whether students at such a tender age will be able to understand complex business applications and concepts or not.

The second argument against the course is how so much content for a 5 year MBA can be created. IIM-I’s reply to this lies in having created a multi multidisciplinary curriculum that will create a great foundation for students.

All this sounds good, but we’re wondering what these graduates are going to be like, without any work experience on their hands. Are they going to be market ready? A 5 year integrated MBA from an IIM after school may sound attractive like hell, but are students wisely gauging their options? Or is it just about "Oh, once I pass out from the IPGP course, my life will be set".

What do you think?