Posted by - clavin - on 14 January 2014 - 4:16pm

• Posted by - rbeaty - on 21 January 2014 - 4:09pm

  Dear Clavin,

  My name is Rebecca Beaty and I work for EMLYON Business School as International Marketing Officer.

  I read your posts and I saw that you have a particular interest in taking over a family business...I know you are currently looking at a MIM programme or an MBA, however if you do want to pursue the area of family business there are other programmes that could suit you.

  When I saw your interest in family business I immediately thought of the Global Entrepreneurship Program EMLYON offers as students specifically learn about family business all while acquiring the fundamentals of management through different courses. This program also provides you with a double degree from EMLYON Business and Purdue University's Krannert School of Management. Here is the website, should you want to learn more: www.msc-entrepreneurship.com

  A MIM program will provide you with good knowledge and experience but I just thought I would share this with you. Do let me know if you wish to discuss more,

  Best regards,
  Rebecca

  Reply

• Posted by - clavin - on 16 January 2014 - 3:45pm

  Ok let me be more elaborate. My family business is includes mostly logistics and transportation and import/export of energy resources. Even if in future I do not join this exact business and try to build up a new venture, I still want to work in India. At the same time my family business has become a little more global since, most big transactions are now from abroad (where a resource is imported). So based on this what do you think? should i concentrate on doing my masters in india or abroad?
  Second thing, i would like your suggestion on one more thing. Should i indulge into my family business and after 2 years join a mba, or first gain some and then dive into family business? I was thinking of applying to Indian school of Business (ISB) but they require minimum 2 years work experience.
  Now I am not sure which one to do. Wait 2 years and then join mba or go for MIM. Waiting for mba seems plausible since I will be able to pursure a better degree (or atleast thats how its percieved) and at the same time I will be able to relate my studies with the problems that i had faced in those 2 years. But, since i have no business knowledge, doing MIM right away also seems plausible since that will make me more ready to dive into family business. Moreover I am not sure if while submitting my work experience in family business will hinder my application for mba.
  So what do you think is appropriate. I understand that a lot depends on my particular scenario but based on what i have told you which option would you have chosen.
  Also, i was expecting the names of few schools from you to which i should apply. Will sending my resume to you give a better picture?
  Regards

  Reply

  • Posted by - Thomas Graf - on 16 January 2014 - 4:32pm

    Hi there,

    thanks for clarifying. I better understand your situation now.

    I avoid mentioning school names as it's the students' responsibility to search by themselves (and they are in the better position to decide which school is better suited for them). I see my job here primarily in helping people find a decision by themselves and develop a strategy how to find adequate programs.

    ---

    Your most important question right now, from my perspective, is whether you go for a business master now or later.
    A master now would be a Master in Management, a specialized master in a specific area, or an MBA in India. A master later would be a MBA or a specialized master in a specific business area.

    My approach always is: What do you need NOW? If you need business knowledge now, go for a business master now. Whether you do an MBA later on - e.g., as full-time or part-time program - you can decide then. If you don't need business knowledge or the reputation of a degree now, there is no need to rush. Keep on working and building up experience, and consider doing a master (no matter which one) later.

    ---

    Your second important question is: If you do a master now, do you want to study abroad or in India?
    Again, this depends on what you want. If you want intercultural experience, of course I would go abroad. If you want it more cost efficient, maybe in India you can save costs due to less travel expenses or costs of living (tuition fees, I don't know). If you want to work in your family business, a degree in India may be sufficient. If you want to work for other global firms, however, maybe a degree from an international school abroad would provide you with advantages.

    Again, I recommend focusing on the near future. If you want to work in your family business for the next years, want to study cost efficient, and then see how your career develops, maybe a degree at home would make sense.

    ---

    The final question relates to which school or program.
    Basically I distinguish between three benefits that you can potentially get from a Masters degree in business: competence, reputation, and network. From what you have told me, I think your primary goal should be to build up competence. In addition, I would recommend you choosing a school that has a reputation and network in the logistics business (e..g, where logistics companies recruit).

    In Germany, for instance, the KLU Kuehne Logistics University (here you have a name...) is specialized on this and located in Hamburg (at a harbour). They offer a Master in Management and a Master in Global Logistics and combine knowledge, network to logistics companies, and a reputation among employers.

    Hence, a good strategy - if you look for a Master in Management - could be to search for a school that offers both, a Master in Management and a Master in Logistics. Even if you decide for the general Master in Management, you may still profit from the school's logistics network and competence. In other words: If a school has specialized in a specific area, this specialization and resulting reputation in that area could provide advantages also for people studying a different degree at the same school. By the way, maybe you should consider studying a Masters in Supply Chain Management or Logistics instead of a MIM...

    These are just some thoughts and suggestions to help you move on.

    Best wishes
    Thomas

    By Thomas Graf

    Reply

• Posted by - Thomas Graf - on 16 January 2014 - 1:55pm

  Hi there,

  thank you for your question. I think, your profile looks very good. You may find it more difficult to get admission at some very selective schools such as HEC or ESCP - but even there, I would apply if you consider these schools as your target schools. In general, where you apply depends on you and your individual preferences.

  Now, the preferences are key. Often, people have some target employers or industries in mind. I recommend to investigate in schools where such target employers or industries recruit and apply only there. In your case, family business, reputation and specific employers seem to be negligible. Instead, your primary goal of the studies seems to be building up management competence. For this, you can apply most schools with an internationally recognized accreditation.

  As for your decision towards a MIM and against the MBA, this make sense. It may be different in India, but the original idea of an MBA is to bring professionals together so that they can profit from each other's work experience. For recent graduates, the Master in Management (MIM) is the right program type (to build up general management knowledge).

  By the way, you should consider only programs that accept graduates without a first degree in business or economics. The MIM Compass allows you to search precisely for these programs. You can either use our search engine and the filter "Entry requirements" or our Financial Times Ranking (and the sub-point pre-experience in each program listed there).

  As for the deadlines, you need to check them one by one by yourself - but most programs in Europe have deadlines either in spring (March/April/May) or keep the admissions process open until the program starts in September.

  As for he London Business School: There are many reasons why schools are not in the FT Ranking. Most importantly, schools need to run a program 4 years in a row to become eligible. The LBS MIM is not in process that long. The LBS, however, is a world-class school and I would not doubt for one second that the program is excellent.

  To sum up: Reflect your preferences (what do you want from a program) and start investigating one by one, without restricting yourself at that point. At the end, you apply for 3-5 programs and certainly gain admission at one ore more even.

  Best wishes
  Thomas

  By Thomas Graf

  Reply