The Background & Vision
The economic liberalization initiated in India in the early 1990s has brought about a paradigm shift in the corporate world along with the privatization and globalization impacts. In order to meet the rapidly growing needs of managerial manpower for industries, agriculture and the service sectors and to function as participative agents of innovation in economic development, the visionaries of MACFAST initiated the MBA Progamme. Although the country has achieved significant progress since the opening up of Indian economy in 1991, the fruits of economic growth are not trickling down to the rural poor who are struggling with poverty, unemployment, malnutrition, illiteracy and other problems.
Economic growth will be inclusive only if the living conditions of the rural poor are improved. Co-operatives, Regional Rural Banks, Local Self Governments, NGOs and Micro Finance Institutions are agencies created for the development of the villages. To extend the frontiers of knowledge of rural development and management through research is needed for their coordination towards economic development and there still exists a gap in the need and availability of trained managerial talents. The present mission of Department of Management Studies is therefore is to grow as a premier management institution to foster the managerial and entrepreneurial need of the corporate as well as rural community and dispense best-in-class management technology and human capital.
What we do at DMS?
MBA @ MACFAST is a comprehensive management program facilitated by the Department of Management Studies (DMS) that aims at moulding outstanding students into managers and leaders. Upon successfully completing academic rigor of four semesters, the participant will be awarded Master of Business Administration (MBA) by Mahatma Gandhi University, Kottayam.
The curriculum of MBA @ MACFAST is designed to impart the essential knowledge and skills considered for managers to function successfully in an increasingly dynamic and complex environment. It facilitates the student in acquiring conceptual and analytical abilities required for making and executing managerial decisions effectively.
How we do it?
A high degree of training by using emerging managerial tools and technologies is imparted to the students. Sensitisation and ability to deal with environmental influences are emphasised. The programme endeavours to nurture a social system which is conducive for inculcating the value systems appropriate for a professional manager in both Indian and global contexts. Accordingly, the basket of teaching methods employed includes lectures, exercises, assignments, case study analysis & discussions, seminars, role plays, management games, internships, project work, audio visual aids, and computer-based smart learning methods. Students also undergo various life skills training programmes, in all the semesters, to gain the ability to maintain clarity in mind and emotional intelligence which enable them to make the right decisions.
A blended, hybrid learning method (a combination of online and traditional classroom methods in the form of interactive sessions), a blend of academic theory with experiential learning in the form of case studies, role plays, internships and live projects, a combination of self-learning and peer-learning, is followed to enhance the skills of the participants. Student interest groups in diverse functional areas meet regularly, and an active industry interaction initiative called MACFAST Innovation & Corporate Synergy (MICS) ensures additional inputs from industry. Advanced management seminars and conferences organised by DMS ensure that the MACFAST academic community is able to keep pace with the latest developments in theory and practice of management.
By following the above philosophy and methodology, the DMS faculty team – consisting of highly qualified and experienced teachers – imparts the necessary knowledge & skills and fosters attitudes essential for the growth of students into competent, responsible and professional managers and leaders.