Dr. G. L. Sharma, Officiating Director, Lal Bahadur Shastri Institute of Management(LBSIM), deliberates on the value of accreditation for management institutions. In his column, Dr. Sharma also tells us why students look at accredited institutes with great respect. Read the exclusive column by Dr. G. L. Sharma below.
Special column by Dr. G. L. Sharma:
An academic institution is a depository of knowledge, knowledge creation and knowledge dissemination. It creates independent mechanism to perform all these functions in such a manner that the ultimate goal of providing knowledge to people is achieved irrespective of caste, creed, religion or economic status. However, these objectives are to be judged by an independent agency which does not have any economic or other interest in the institution directly or indirectly.
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This calls for an impartial authority comprising different group of people having divergent views but one common goal to promote and enhance the independent working of the institution which imparts the education to the society. It is, therefore, essential to have some kind of independent agency that can evaluate the programs of the institute and hence some kind of recognition or accreditation.
Importance of accreditation
Accreditation is one of the important parameters for institutions interested in earning recognition and reputation worldwide. It helps them in creating a different positioning in the market. The process of accreditation validates the institutions on set quality parameters. The literal meaning as cited in the dictionary about accreditation talks about certificate of competence in specified subject or area. Mostly the accreditation represents a high standard for any business school, in addition to confirming its commitment to continuous quality improvement and they gaze it with the help of students learning outcomes.
The value of accreditation of management program lies in quality assurance and quality enhancement. It helps all stakeholders in understanding that the institute follows the specific standards set out by accrediting agency. It is holistic in nature and uses various criteria as a benchmark for assessing the overall quality of an institution/programs. The accreditation provides an assurance that the students coming out of the accredited institutes/programs are ready to practice and perform at a certain level. The success of the students coming out of accredited institute may not be guaranteed but the accreditation can ensure the students will demonstrate a certain level of skills that are reflected in the criteria. Accreditation ensures that students have a standard and are able to overcome a problem with ease and competency.
What students want?
These days, it has become a necessary condition to have accreditation in many professional fields, and the management education is not lagging far behind. The prospective students look at accreditation with great respect and consider it that they are getting enrolled in a program/school which is quality conscious. Obviously, if the school/program carries several accreditations, it is ranked higher in its decision making to enrol into the school’s programs. The other schools while admitting students prefer students applying from accredited schools over other students.
Win-win for schools and recruiters
In the same way, the prospective campus recruiters and employers assure that relevant changes are taking place in improving the syllabus and picking students from these schools will ultimately be a win-win kind of situation for both parties. The accreditation may also open gates to the graduating students to work abroad in multinational organizations.
The government agencies and professional bodies also give consideration to the accredited institutes while awarding grants to them. The accreditation allows faculty members of the institute to be more proactively engaged in teaching and learning process so that the learning outcomes of the students are on par with other accredited institutes.
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Both are well reputed college and you may choose any. But Lal bahadur Shastri Institute of Management(LBSIM) seems a better choice, as it has a better ROI and better equipped facilities like Bloomberg
lab. There are a lot of companies which come in for placements and offers better average salary package to students in LBSIM, Delhi.
I hope it helps. All the best!
Hello,According to the placement records of 2018 for BIM, Average CTC was 10LPA Median CTC –8.50 LPA Maximum CTC –15.00 LPA Minimum CTC –6.50 LPA
Check the details- http://bim.edu/indexnew/placements/
BIMTECH (placement record of the batch 2015-17)Highest Indian Salary offered–INR 14.00 LPA (INR 12.00 LPA), Average Salary offered–INR 7.50 LPA(INR 7.35LPA) and Minimum Salary offered–INR 5.00 LPA (INR 5.00 LPA). Highest Foreign Salary offered was INR–15.00 LPA(INR 26.00 LPA).
NITIE- Average salary offered was 18.45 - https://www.nitie.edu/Final%20Placement%20Report%202018.pdf
FORE School of Management-As per the placement records of 2018, highest CTC offered was 21 LPA and average CTC in lakhs per anum is 10.4
Lal bahadur Shastri Institute of Management-As per the Placement record for the batch 2016-18, the average annual package was Rs. 8.60 lakh. https://www.lbsim.ac.in/placement.aspx?mpgid=95&pgid1=96&pgidtrail=103
Placement records of Goa Institute of management- Highest CTC in Lakhs-22Average salary of top 20 in lakhs- 17.32https://www.gim.ac.in/newpdfs/GIM-Placement-Report-18.pdf
Hope this helps.Good LucK!
Hello,Admission procedure of Lal Bahadur Shastri Institute of Management for post Graduate Diploma in Management (General,Finance, Research & Business Analytics and Logistics & Supply Chain Managment) is Candidate should hold a Bachelor's degree with 50% marks. And, Candidates are selected on the basis of CAT/GMAT scores.Go through the link below for details- https://www.lbsim.ac.in/admission.aspx?mpgid=52&pgidtrail=53
The Candidates are short-listed on the basis of CAT/ Current GMAT score will be called for Group Discussion, Extempore, Work Experience and Personal Interview for the final selection. I would suggest you to contact the college official regarding the direct admission as only they can help you if they provide.
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