Indian Institute of Management, Calcutta is revising the name of Postgraduate Programmes for Executives (PGPEX) to Masters of Business Administration for Executives Programme paving the way for acknowledging the one-year diploma as a degree programme. This move will change the status of the one-year diploma programmes in the country which till now was hesitant to approve them.
However, IIM Calcutta is not the first one to change the terminology of MBA. Earlier, IIM Ahmedabad and IIM Bangalore have also incorporated the changes in their constitution.
According to a source from the institute, from the upcoming convocation onwards, the institute will be giving MBA for Executives Programme instead of Postgraduate Programme for Executive (PGPEX). “This is our regular one year programme for executives working in the industry”, the source added. The programme was initiated in 2006 and this will be the institutes’ 12th batch. The MBA Executive Programme will be given to 66 graduates.
The programme was renamed only after the Board of Governors (BOG) gave approval for the proposal. The change has been implemented as per the IIMC Act. The BOG had earlier on approved changing the names of the two-year PGDM and awarding fellows PhD. “The nomenclature of MBA and Ph.D. programmes are more accepted worldwide and will be given a high value. It is aligned with the international terminology of business management degrees. Worldwide no institute conferred PGDM to the business management graduates, it was always MBA. While the market did recognize PGDM from the IIM ’s to be equivalent, now the confusion, if any in the minds of employers will be settled”, said a student.
“It will definitely add to the prestige in a sense that power to award degrees is now given to IIM’s which are amongst the most coveted B-Schools in the country”, pointed out a teacher from the institute who also emphasized that awarding the degree will put IIM-C at par with stakeholder’s expectation.