The Indian Institutes of Management (IIMs) are struggling to settle on a name for their postgraduate degree. The 20 business schools are in dilemma over the nomenclature of the degree that is meant for their graduate students. As per the report by the Indian Express, IIM-Ahmedabad and IIM-Lucknow, are in favour to call the degree as MIM which stand for Master in Management. On the other hand, the more common nomenclature Master of Business Administration or MBA is prefered by others.MBA, MIM, IIM, Indian Institutes of Management, postgraduate degree, IIM directors, Master of Business Administration
A meeting was chaired in Delhi last month to take a final call, which saw all 20 IIM directors debating over the issue. The issue came up at a meeting on whether these business schools should grant a postgraduate diploma in management (PGDM) or award a degree to the batch graduating this month. To seek clarification on the matter, IIM-Lucknow had even approached the HRD Ministry. However, as per the report, except for IIM-Indore, all institutes are now more or less in favour of maintaining status quo this year.
One of the institute directors who attended the meeting was quoted as saying that the matter will require more discussion and debate. In order to maintain and protect the brand equity of the IIMs, the director said that all 20 institutes will have to agree on one name, whether that’s MBA or MIM.
What is the difference between MIM and MBA?
• One major difference between both of them is that students who are enrolled in a MIM programme usually do not have full-fledged or years of experience. While the students who are enrolled for MBA have a few years of professional experience with them, another director said.
• The nomenclature MIM, is popular in Europe. Business schools such as the London Business School, ESCP Europe, HEC Paris, Bucconi and Duke Fuqua offer MIM as their flagship degree.
However, the report suggests that before settling on a name for the postgraduate degree, IIMs will have to consider a bunch of factors.