This action might not be possible to undo. Are you sure you want to continue?
Problem statement: Number of unemployment among MBAs increasing
Research Objective: To study the reasons for the availability of fewer jobs. To study the reasons of inadequate interest by the students To study the
Hypothesis: Alternative Hypothesis: Unemployment among MBAs increasing Null Hypothesis: Unemployment among MBAs not increasing
SUBJECT ² UNEMPLOYMENT
An economic condition marked by the fact that individuals actively seeking jobs remain unhired. Unemployment is expressed as a percentage of the total available work force. The level of unemployment varies with economic conditions and other circumstances.(1) Recognition of unemployment occurred slowly as economies across the world industrialized and bureaucratized. The recognition of the concept of "unemployment" is best exemplified through the well documented historical records in England. For example, in 16th century England no distinction was made between vagrants and the jobless; both were simply categorized as "sturdy beggars", to be punished and moved on.(2) Unemployed Workers Unemployment Rate = --------------------------------------------------------- (3) Total Labour Force In economics, unemployment refers to the condition and extent of joblessness within an economy, and is measured in terms of the unemployment rate, which is the number of unemployed workers divided by the total civilian labor force. Hence, unemployment is the condition of not having a job, often referred to as being "out of work", or unemployed. The terms unemployment and unemployed are sometimes used to refer to other inputs to production that are not being fully used, for example, unemployed capital goods. The history of unemployment is the history of industrialization. It was not considered an issue in rural areas, despite the "disguised unemployment" of rural laborers having little to do, especially in conditions of overpopulation. The Office for National Statistics (ONS) produces official estimates of unemployment using the International Labour Organization definition. Under this definition people aged 16 and over are unemployed if they are out of work, want a job, have actively sought work in the last four weeks and are available to start work in the next two weeks; or are out of work, have found a job and are waiting to start it in the next two weeks. Unemployment levels are increasing dramatically in many parts of the world. There are several causes behind this increasing rate. But the main reason for the high level of unemployment is technological progress. In a fewer year far less working hours are needed to produced all the goods that are required, hence there will be less demand of labour. This can lead more to the raise of unemployment ratio. On the other hand, traditionalism, ignorance and over population etc are some other major cause that led to the raise of unemployment.
Today, unemployment data are useful for a variety of reasons. The government use unemployment along with other labour market indicators for macro-economic and labour market management. Data are also supplied to a range of international organizations such as the European Central Bank. In the social policy domain, unemployment is used as an indicator of relative hardship. Today, unemployment is the major crisis worldwide, to keep check on it is very much essential, it is you, who can change the word unemployment into employment. REPRINT RIGHTS statement: This article is free for republishing by visitors provided the Author Bio box is retained as usual so that all links are Active/Linkable with no syntax changes.(4)
REASONS FOR UNEMPLOYMENT
It is obvious that the unemployment situation is grim indeed. It has, therefore, to be tackled with appropriate measures and on an urgent basis. However, before we discussed the ways and means of removing unemployment, it is necessary that we understand the causes that given rise to it. The major causes which have been responsible for the wide spread unemployment can be spelt out as under.(5) 1) Rapid Population Growth: It is the leading cause of unemployment in Rural India. In India, particularly in rural areas, the population is increasing rapidly. It has adversely affected the unemployment situation largely in two ways. In the first place, the growth of population directly encouraged the unemployment by making large addition to labour force. It is because the rate of job expansion could never have been as high as population growth would have required. It is true that the increasing labour force requires the creation of new job opportunities at an increasing rate. But in actual practice employment expansion has not been sufficient to match the growth of the labor force, and to reduce the back leg of unemployment. This leads to unemployment situation secondly; the rapid population growth indirectly affected the unemployment situation by reducing the resources for capital formation. Any rise in population, over a large absolute base as in India, implies a large absolute number. It means large additional expenditure on their rearing up, maintenance, and education. As a consequence, more resources get used up in private consumption such as food, clothing, shelter and son on in public consumption like drinking water, electricity medical and educational facilities. This has reduced the opportunities of diverting a larger proportion of incomes to saving and investment. Thus, population growth has created obstacles in the way of first growth of the economy and retarded the growth of job opportunities. 2) Limited land: Land is the gift of nature. It is always constant and cannot expand like population growth. Since, India population increasing rapidly, therefore, the land is not sufficient for the growing population. As a result, there is heavy pressure on the land. In rural areas, most of the people depend directly on land for their livelihood. Land is very limited in comparison to population. It creates the unemployment situation for a large number of persons who depend on agriculture in rural areas.
3) Seasonal Agriculture: In Rural Society agriculture is the only means of employment. However, most of the rural people are engaged directly as well as indirectly in agricultural operation. But, agriculture in India is basically a seasonal affair. It provides employment facilities to the rural people only in a particular season of the year. For example, during the sowing and harvesting period, people are fully employed and the period between the post harvest and before the next sowing they remain unemployed. It has adversely affected their standard of living. 4) Fragmentation of land: In India, due to the heavy pressure on land of large population results the fragmentation of land. It creates a great obstacle in the part of agriculture. As land is fragmented and agricultural work is being hindered the people who depend on agriculture remain unemployed. This has an adverse effect on the employment situation. It also leads to the poverty of villagers. 5) Backward Method of Agriculture: The method of agriculture in India is very backward. Till now, the rural farmers followed the old farming methods. As a result, the farmer cannot feed properly many people by the produce of his farm and he is unable to provide his children with proper education or to engage them in any profession. It leads to unemployment problem. 6) Decline of Cottage Industries: In Rural India, village or cottage industries are the only mans of employment particularly of the landless people. They depend directly on various cottage industries for their livelihood. But, now-a-days, these are adversely affected by the industrialisation process. Actually, it is found that they cannot compete with modern factories in matter or production. As a result of which the village industries suffer a serious loss and gradually closing down. Owing to this, the people who work in there remain unemployed and unable to maintain their livelihood. 7) Defective education: The day-to-day education is very defective and is confirmed within the class room only. Its main aim is to acquire certificated only. The present educational system is not job oriented, it is degree oriented. It is defective on the ground that is more general then the vocational. Thus, the people who have getting general education are unable to do any work. They are to be called as good for nothing in the ground that they cannot have any job here, they can find the ways of self-employment. It leads to unemployment as well as underemployment.
8) Lack of transport and communication: In India particularly in rural areas, there are no adequate facilities of transport and communication. Owing to this, the village people who are not engaged in agricultural work are remained unemployed. It is because they are unable to start any business for their livelihood and they are confined only within the limited boundary of the village. It is noted that the modern means of transport and communication are the only way to trade and commerce. Since there is lack of transport and communication in rural areas, therefore, it leads to unemployment problem among the villagers. 9) Inadequate Employment Planning: The employment planning of the government is not adequate in comparison to population growth. In India near about two lakh people are added yearly to our existing population. But the employment opportunities did not increase according to the proportionate rate of population growth. As a consequence, a great difference is visible between the job opportunities and population growth. On the other hand it is a very difficult task on the part of the Government to provide adequate job facilities to all the people. Besides this, the government also does not take adequate step in this direction. The faulty employment planning of the Government expedites this problem to a great extent. As a result the problem of unemployment is increasing day by day.
OBJECT ² MBAs
The Master of Business Administration is a master's degree in business administration, which attracts people from a wide range of academic disciplines. The MBA designation originated in the United States, emerging from the late 19th century as the country industrialized and companies sought out scientific approaches to management. The core courses in the MBA program are designed to introduce students to the various areas of business such as accounting, finance, marketing, human resources, operations management, etc. Students in MBA programs have the option of taking general business courses throughout the program or can select an area of concentration and focus approximately one-fourth of their studies in this subject. Accreditation bodies exist specifically for MBA programs to ensure consistency and quality of graduate business education. Business schools in many countries offer MBA programs tailored to full-time, part-time, executive, and distance learning students, with specialized concentrations.(6) There are 1600 business schools in India offering two year MBA programs. The students are a mix of fresh graduates without any work experience and people with significant work experience. Among those schools, the Indian Institutes of Management (IIM) are among the oldest institutions for management education in India. In 1949, the XLRI became the first institute in India to offer certificate courses in human resources management. In 1953, the Indian Institute of Social Welfare and Business Management became the first institute in India to offer an MBA degree of an Indian university. Admission to any of the IIM schools requires passing Common Admission Test (CAT), however other business schools require passing either CAT, XAT, GMAT, MAT or others. Apart from these entrance tests there are few business schools which conduct aptitude tests individually for admission to that particular business school. The IIM and other autonomous business schools offer a post-graduate diploma in management (PGDM) or Post Graduate Programme in Management (PGPM) which is recognized in India as equivalent to an MBA degree. Government accreditation bodies such as AICTE established that autonomous business schools can offer only the PGDM or PGPM, whereas a full post-graduate degree can be awarded only by a university, in two-year full-time program.(7) The main reason to attend school is to increase your salary potential and advance your career. Because graduates who hold an MBA degree are eligible for jobs that would not be offered to those who hold only a high school diploma, an MBA degree is almost a necessity in today·s business world. In most cases, an MBA degree is required for executive and senior management positions. There are some companies who will not even consider applicants unless they have an MBA degree. People who hold an MBA degree will find that there are many different types of employment opportunities that are available to them.
Many MBA programs offer an education in general management along with a more specialized curriculum. Because this type of education is relevant to all industries and sectors, it will be valuable regardless of the career that is chosen after graduation.(8)
SCOPE OF MBA
The scope for a MBA graduate is unparalleled. Apart from attractive pay packets and placements being offered at college-level itself, it opens doors to various sectoral opportunities. The Indian Corporate world has seen many MBA professionals occupying top slots in the corporate ladder. Apart from Corporate careers, one can opt for entrepreneurship, work in cooperatives, NGO's as the opportunities are literally unlimited. Even when the industry goes through trends/fads, like the recent dot com fad, MBAs are the first in and among the first out, thereby reaping the benefits of a rising industry and the smartness of exiting to a different industry when the fall happened. This is due to the multidimensional, multi-tasking quality an MBA possesses. For example: A MBA with Finance specialization does not necessarily fare poorly when the industry hits the doldrums. He gets onto marketing of financial services (say, marketing of mutual funds or insurance products), thereby reducing career risk. Today, a Management Degree has become an attractive proposition, as there are attractive entry level salaries (including $ salaries offered by some MNC's) and typically, a Management Graduate gets absorbed into a Company through the Campus Placement Program of the Institute. The MBA Program offers a lucrative career option to both experienced professionals as well as fresh graduates.(9) Apart from attractive pay packets and placements being offered at college-level itself, it opens doors to various sectoral opportunities. The corporate world has seen many MBA professionals occupying top slots in the corporate ladder. Today, a Management Degree has become an attractive proposition, as there are attractive entry level salaries (including $ salaries offered by some MNC's) and typically, a Management Graduate gets absorbed into a Company through the Campus Placement Program of the Institute. The MBA Program offers a lucrative career option to both experienced professionals as well as fresh graduates.(10)
NEED OF MBA
A number of recent newspaper stories have suggested that this recession is taking a surprisingly heavy toll among more formerly successful Americans. The appeal of these stories is obvious. After all, reversals of fortune among educated elites have a nice counterintuitive ring to them, and well-educated readers find stories about people like themselves far more interesting than more tales of suffering migrant farm workers. After all, John Steinbeck already covered that. Yet it is important to recognize that in this recession, just as in every other recorded downturn, unemployment is overwhelmingly concentrated among those who started with less. Asset losses have been concentrated among the rich, of course, but unemployed M.B.A.·s are newsworthy primarily because they remain relatively rare. Understanding which sectors have really been hit hardest by the recession matters because government policy should aid the people that have suffered most, which means poorly educated workers in construction and agriculture, not well-educated financiers. There are now almost two million Americans over the age of 25 who are unemployed and have a college degree. That sounds like a big number, until you deflate by the 45 million Americans in that age and education group. The overall unemployment rate for the more educated is only 4.3 percent. Individuals with a high school degree, but no college, have a 10 percent unemployment rate (not seasonally adjusted). The unemployment rate for high school dropouts is 15.5 percent. Moreover, the unemployment rate gap between the most- and least-skilled is widening, not narrowing. Between February and March, the unemployment rate for college graduates increased by one-tenth of a percentage point. Among high school dropouts, the unemployment rate increased by four-tenths of a point. Occupational patterns tell the same story. The unemployment rate for professionals is 3.9 percent. The unemployment rate for ´production occupationsµ is 14.9 percent. Moreover, despite Wall Street·s woes, financial service industry professionals remain among the most employed sectors of the economy, which makes it easy to understand popular anger at the financial industry bailout. The unemployment rate for people who work in finance is 6.8 percent, substantially below the national average. Only a few other industries, like education and health services, which has a 4.5 percent unemployment rate, and the public sector, where unemployment is only 2.8 percent, have remained more stable.
The epicenter of the recession is in construction, where the unemployment rate is running at 21.1 percent. Agriculture is a close second, with a 19 percent unemployment rate. Durable goods manufacturing runs a distant third: 13.1 percent of its workers are unemployed. This doesn·t seem like a different sort of recession. These sectors also bore much of the brunt of the downturn in the 1980s and the 1930s. Just as in the past, unemployment is disproportionately concentrated among minorities and among the young. The white unemployment rate is 8.5 percent. The AfricanAmerican unemployment rate is 13.5 percent. More than one in five 16- to 19-year-olds are unemployed. More than 30 percent of African-Americans in that age category are unemployed. Getting the facts right is important, because those facts should help guide our response to the economic crisis. If pain was particularly focused among highly educated financial professionals, that group would be the right target for short-term aid and longer-term restructuring. In fact, government aid should, as usual, be focused on those with the least skills and those in traditional, stuff-producing sectors like agriculture, construction and heavy industry. For the long term, government policy should focus on turning less-skilled people into more-skilled people, because, regardless of what you·ve read in the newspaper, education remains the best antidote against unemployment.
REFERENCE 1. http://www.investorwords.com/5838/unemployment.html#ixzz1mdMbWvlg 2. "Sturdy Beggars" Probertencyclopaedia.com. Retrieved 2009-07-22 3. "World Employment May Not Reach Pre-Crisis Level For Five Years". BusinessWeek. October 31, 2011. 4. http://www.streetdirectory.com/travel_guide/20534/careers_and_job_hunting /what_is_unemployment.html
5. http://www.preservearticles.com/201105096376/what-are-the-causes-ofunemployment-in-india.html 6. http://en.wikipedia.org/wiki/Master_of_Business_Administration 7. Selingo, Jeffrey. A Self-Published College Guide Goes Big-Time, and Educators Cry Foul. Chronicle of Higher Education (7 November 1997). 8. http://wiki.answers.com/Q/What_is_the_scope_of_an_MBA 9. http://businessmajors.about.com/od/programcomparison/a/mbaDegree.htm 10. http://www.mbajunction.com/overview/scope.htm 11.
This action might not be possible to undo. Are you sure you want to continue?
We've moved you to where you read on your other device.
Get the full title to continue listening from where you left off, or restart the preview.