Bustling Business

Dr Naimitya Sharma

Technological change is taking place at an unprecedented pace, both globally and locally. In this context, the question that often arises in the minds of young students at the verge of choosing their undergraduate specialisation is whether it makes sense to pursue a commerce or management degree.

There are ample reasons for students to choose BCom or a BBA in the current circumstances as these courses are the gateways to a well-rounded career in the field of Finance, Accounting, Entrepreneurship and Management.

Fitting into finance

There is a rising demand for Finance professionals in India and abroad. Interestingly, this demand is there in both private and public sector. With fast-paced economic growth, increased digitisation and embeddedness of finance capital in various segments of business activity, there is a growing need for skilled finance professionals in the country.

New emerging areas within finance include Risk management, Investment management, Fintech and Personal finance advisory services.

To make a career in these emerging fields, undergraduate commerce and management degree from reputed institutions provide the necessary intellectual and skill background.

Accounting adds on

Another sector in the economy where a lot of upheaval is taking place is accounting and corporate governance. Modernisation and formalisation of Indian economy offers huge potential and real growth for further development and consolidation of the Accounting and Governance space in terms of employment and start-up opportunities.

Some emerging areas are: Regtech, ESG research and advisory, Financial Forensics, CSR amongst others. The increased pace of start-up activities in India offers ample amount of opportunities for future corporate governance professionals.

These opportunities will be amenable to graduates having deep-rooted understanding of accounting, finance and regulation related with governance of a corporate entity. Reputed institutions offer excellent BCom honours degrees focusing on developing the skill set required for being successful in accounting and corporate governance field.

Data analytics

Additionally, fast-paced change and consolidation is taking place in business/data analytics space as well.

Corporates and other organisations of all hues are evolving towards consolidating data driven decision-making processes. With increase in complexity of data, the task of analysing and making business sense out of it is becoming more demanding.

There is a great demand for young professionals who are adept in the task of setting up, managing and driving data-driven decision-making processes.

Commerce and management students interested in these opportunities should look for BBA and BCom programmes that offer ample exposure to disciplines related with quantitative-qualitative research and computing, necessary for making inroads in modern day analytics verticals.

Right marketing

Changes in consumer preferences and technology are affecting the field of marketing as well. Social media is playing crucial role in this space.

Many innovative jobs and self-employment opportunities have emerged in the area of social media management. Branding, product launch, customer engagement are being driven via social media channels.

This presents a great opportunity for students interested in making a career in social media management.

Good institutions offer dedicated courses for learning social media management in experiential learning format along with integrating linkages to other fundamental courses of management.

Increased focus on data driven decision-making impacts the strategic marketing space as well. It is crucial for young professionals to be adept in skills related to marketing analytics.

Strategic decision making towards brand management, brand expansion and equity require skilled and trained young managers who can be relied on to develop and carry forward an organisation’s strategic vision.

There are changes in preference of students and young professionals in the current scenario.

Entrepreneurship skills

The favourite destination for many students in terms of a career these days is Entrepreneurship. For commerce and management students, it is a great career avenue. Reputed institutions offer dedicated incubation facilities even for undergraduate students for developing their ideas for a start-up.

A well-rounded skilled commerce and management professional is also a very good partner for technological driven start-ups as they have the capability to undertake specialised fundamental tasks like feasibility studies, financial management and control, brand development, human resource management, economic analysis, among others.

As is evident, opportunities galore for commerce and management students after an undergraduate degree.

Aiming high

In terms of academic progression, they can always choose to go for higher education if they want to widen their horizon after undergraduate programme. A career in research and teaching is also an option by pursuing reputed doctoral programmes from top institutions. Many of these doctoral programmes offer attractive stipend and scholarships to admitted research scholars.

Bright prospects

Students and parents are also worried about job prospects right after an undergraduate degree. A good undergraduate education alone might not be enough for becoming competitive in the job market. That is why good institutions offer ample amount of opportunities to students to develop real life research, volunteering and management skills. Developing a portfolio of projects, assignments, institutional responsibilities undertaken throughout your undergraduate degree, along with interesting internships can work as a good signal for employers.

Completing a BBA Finance or Marketing from a reputed institution can provide them with a good start in the world of management and governance.

It is, thus, advisable that students who wish to study commerce and management at undergraduate level take the plunge with confidence.

Course correction

Some students, even when they are clear about pursuing a career related with commerce and management are in a fix about making a choice between BCom and BBA programme.

While there are many common subjects in both the programmes, a BCom degree focuses on accounting and finance. Students inclined towards making a career in Accounting can go for a BCom degree.

Choosing the honours course is beneficial as it provides an edge in the job market at later stages.

On the other hand, the focus of BBA is on Management. Many institutions offer excellent specialisations in BBA programmes.

One important fact to remember is that BBA programmes are now AICTE approved, making these programmes join the league of technical education. This is an important indicator of the changing times, where business processes are becoming more technical in nature.

A broad-based degree like BBA can be an excellent starting point as it offers exposure to various disciplinary backgrounds like Economics, Finance, Management, and Communications.

These subjects become building blocks for a future in managing businesses or even doing a start-up. Students should keep in mind the technical nature of this course.

Humane approach

• Many students lament the fact that commerce and management education is devoid of other human concerns and focus too heavily on accounting and finance.
• With changing student preferences, and dynamic skill requirements along with focus on emotional intelligence and environmental concerns, institutions with focus on quality higher education, offer excellent opportunities for students to develop all facets of their personality.
• Environmental ethics, commerce labs, soft skill training, along with world class methods of delivering education via experiential learning and case method can work wonders for creating a more humane and engrossed educational environment.
• Some of the top institutions offering these programmes design out of class activities with the help of student projects, student led associations and workshop groups to enhance student learning in an applied fashion.

Step into IIM after Class XII

India’s premier IIMs offer five-year integrated course for undergraduate students. IIM Indore, Rohtak, Ranchi,Jammu and Bodh Gaya offer IPM degree courses. Admission to the 5-year Integrated Programme in Management (IPM) is through entrance exam, followed by Written Ability Test (WAT) and Personal Interview (PI). The Indian Institute of Foreign Trade (IIFT) also offers IPM at IIFT-Kakinada. The five-year Integrated course in Management (BBA MBA) is a 15-term programme with three terms a year.

Fee: Rs 4,00,000 per annum for first 3 years.

Economics courses in IITs/BITS

The Department of Economic Sciences, Indian Institute of Technology (IIT), Kanpur, offers a four- year BS programme in Economics after admitting candidates through JEE. The IIT-Roorkee is offering BS-MS five-year programme in economics after admitting students through JEE. The Birla Institute of Technology and Science (BITS) , Pilani, is another institute offering four-year programme through its Department of Economics and Finance. The admission to this course is through its all-India examination BITSAT.

Company Secretary (CS)

The Institute of Company Secretaries of India offers enrolment to CS and a parallel BCom. Admission to CS is also through a foundation exam and those who have qualified Class XII are eligible for foundation exam.

BBA/BMS

BBA/BMS is ideal for those planning to go in for an MBA course after graduationn to pursue a career in Business Management. Candidates should have completed Class XII or equivalent in any stream with at least 50% in aggregate.

Chartered Accountancy (CA)

For the qualification of CA, a candidate has to get registered with The Institute of Charted Accountants of India (ICAI) after Plus II examination through qualifying foundation exam which is held twice a year — in May and in November. CA Programme has three sections viz. Common Proficiency Test (CPT), Professional Competence Course (PCC or PCE) and Final examination. Students will specialise in accounting, auditing and taxation. A candidate can pursue BCom and CA simultaneously.

Entrance Tests

Integrated Programme in Management Aptitude Test

IPMAT is conducted by the Indian Institute of Management Indore (IIM-Indore). This national-level test is a gateway for admission to the five-year Integrated Programme in Management at IIM-Indore. IPMAT 2024 will be held in online mode followed by a Personal Interview (PI). The programme is spread across a period of five years and consists of 15 terms. Every year constitutes three terms of three months duration. IPMAT scores will also be accepted by the Indian Institute of Foreign Trade (IIFT).

Pattern: Multiple-choice questions and short-form answers in Quantitative Ability, Verbal Ability sections. Each right answer will fetch 4 marks and a wrong answer will lead to deduction of 1 mark. Duration of the exam is two hours.

Website: https://www.iimidr.ac.in/

Christ University Entrance Test

Christ University Entrance Test is an undergraduate entrance test conducted for admission to BBA, BBA (Hons), BBA (Finance and International Business), BBA (Finance and Accountancy), BBA LLB (Hons), LLM, BCom (Hons), BCom (International Finance), BCom (Professional), BA-CEP and BHM.

Pattern: The question paper carries MCQs. This test 2024 consists of six sections, i.e. English Language, General Knowledge and Current Affairs, Quantitative Aptitude, Numerical Ability and Fundamental Mathematics, Critical Reasoning and Fundamental Accounting.

Website: https://christuniversity.in//

NMIMS-NPAT (National Test for Programmes After Twelfth)

NMIMS-NPAT(National Test for Programmes After Twelfth) is the official entrance test for admissions to undergraduate degree programmes offered by Narsee Monjee Institute of Management Studies after Class XII. It covers programmes in Commerce, Economics, International Studies, Branding & Advertising, Liberal Arts & Management.

Duration: 120 minutes

Eligibility: Candidates must have completed Class XII or equivalent examination with 60% marks.

Pattern: The exam is conducted as a computer-based test from the test centre. 120 MCQs to be answered in 100 minutes.

Website: https://nmimsnpat.in/

Region’s best

GGSD College, Chandigarh

Estd: 1973

Website: www.ggdsd.ac.in

Ranking: The College has ranked among Top 100-150 Institutions in NIRF 2023. 'A+' grade by NAAC and accorded the status of 'A College with Potential for Excellence' by UGC.UGC to run B Vocational courses.

University Business School, PU

Estd: 1995

Website: https://ubs.puchd.ac.in/

University School of Business, Chandigarh University, Gharaun

Estd: 2012

Website: www.cuchd.in

Ranking: 38th in NIRF-2023 (overall). 18th in Business & Management Studies in QS subject wise ranking 2024.

University College of Business Studies, Shimla

Estd: 1996

Website: https://hpuniv.ac.in/

Accredited with ‘A’ grade by NAAC, the BBA and BCA programmes of the institute are designed to prepare corporate leaders who can solve cross-functional and multidimensional problems of the business world.

Lovely Professional University

Website: https://www.lpu.in/

Estd: 2005

Ranking: 32nd in NIRF, 2nd in Times Higher Education. NAAC A++

Multani Mal Modi College, Patiala

Estd: 1967

Website: www.modicollege.com

Narsee Monjee Institute of Management Studies (NMIMS), Chandigarh

Estd: 2021 (Chandigarh campus)

Website: www.nmimschandigarh.org/

MCM DAV College for Women, Chd

Estd: 1968

Website: www.mcmdavcw-chd.edu

DAV College, Amritsar

Estd: 1955

Website: www.davcollegeasr.org

Govt College for Girls, Ludhiana

Estd: 1943

Website: gcgldh.org/

GGSSDGS Khalsa College, Patiala

Estd: 1960

Website: www.khalsacollegepatiala.org

DAV College, Jalandhar

Estd: 1918

Website: www.davjalandhar.com

Govt Post Graduate College, Hisar

Estd: 1950

Website: www.gchisar.com

2023 NIRF Top 10

1 Shri Ram College of Commerce, New Delhi
2 Hindu College, New Delhi
3 University of Petroleum and Energy Studies, Dehradun
4 Hansraj College, New Delhi
5 Lovely Professional University, Jalandhar
6 Lady Shri Ram College for Women, New Delhi
7 Manipal University Online, Jaipur, Rajasthan
8 Loyola College, Chennai, Tamil Nadu
9 Kalinga Institute of Industrial Technology, Bhubaneswar
10 Kirori Mal College, New Delhi

The writer is Asst Prof- Economics, Programme
Chairperson - School Of Commerce, SVKM's NMIMS, Chandigarh