Today’s business world is competitive; it is crucial to gain an advantage over your peers to fulfill your career aspirations and build a position for yourself. But it becomes difficult for professionals with only a bachelor’s degree to survive and thrive. There are various factors due to which it becomes a necessity for professionals with a bachelor’s degree to enhance their knowledge and skill-set. But the two main reasons are economic slowdown; it affects the revenue of the organization, which results in organizations moving towards lay-off for cost-saving reasons, and the second being one’s career growth becoming stagnant.
In order to avoid being entrapped in unpleasant circumstances, college graduates and professionals with a bachelor’s degree are choosing to pursue PGDM to boost their careers. Recently a survey was done on Annual Employability 2019 by Aspiring Minds. It revealed that 80% of engineering graduates as not fit for jobs. This is one of the reasons that companies have become selective in hiring, and are observed to give less preference to students and professionals with just a bachelor’s degree.
Moreover, there has been a rise in entrepreneurship in India; This has created a growing demand for professionals having management and leadership skills. Thus, more and more students and working professionals are opting to pursue management studies. Post-Graduate Diploma in Management (PGDM) is one of the emerging management program, which focuses on creating professionals with the necessary skills to become successful business leaders
What is PGDM?
Post Graduation Diploma in Management (PGDM) is a full-time two-year program designed to impart the student with overall knowledge about the modern business world. In addition, students can do industry-relevant specialization according to their career goals. The specialization offered is Marketing Management, Entrepreneurship Management, Finance Management, International Business Management, Human Resource Management, Management Business Analytics, Operations, and Supply Chain.
What is the benefit of pursuing PGDM?
Pursuing a PGDM program has a lot of benefits. The main advantage is that its curriculum is designed in a way that it develops skills that are industry-relevant and helps you in professional as well as personal life. Some of the skills one develops during the program are listed below.
Today’s business world is known for being demanding. While pursuing PGDM, one’s abilities are polished to manage such difficult and high-pressure situations.
Problem Solving Thinking
In day-to-day operations of any organization, there arise various types of critical situations which require strategical and problem-solving approach. The PGDM program teaches an individual how to take time and understand the situation, identify the problem, analyze it, and take strategic action to resolve the issue.
Excellent communication skills are essential in most roles in today’s business world. This is one of the main reasons that primary focus is given on communication in a PGDM program. Thanks to a wide range of tasks, assignments, and internship opportunities with leading organizations, one gets to learn the complex business language and hone their communication skills.
Networking is a skill that helps one’s growth in the long run. The PGDM program encourages students to interact with their peers as much as possible. Along with that, it provides opportunities to attend events, be a part of guest lectures, and other relevant activities that help students build a network. These activities help students in developing networking skills and navigate their way successfully in the business world.
The critical skill which one develops during the course is confidence. A student has to perform various tasks that provide practical industry level training to help understand different concepts.
The curriculum of PGDM gives an in-depth knowledge about how an organization performs, its day-to-day operations, meets various challenges, and overcomes them. Students get a chance to hone their managerial skills during the course.
Career prospects after completing a PGDM program?
A PGDM program enhances one’s knowledge and hones their skills, resulting in fast-tracking one’s career. After the completion of a PGDM program, one can get placed from college in higher management roles such as CEO, Consultant, Project Manager, Director of Marketing, management, etc. in domains like Finance, Marketing, Administration, etc. depending on the choice of one’s specialization. It will also help one to move up the corporate ladder with lucrative salary packages.
PGDM program is designed for students who seek to become market leaders and lead organizations. However, before enrolling in the program, one must carry out in-depth research about colleges, their syllabus, and the placements they offer.