The Graduate Management Admission Council (GMAC) has inducted the Indian Institute of Management Calcutta (IIM C) and XLRI Jamshedpur as members. Students will stand to benefit indirectly from this move as member b-schools get better exposure to global practices.
Indian School of Business (ISB) Hyderabad, IIM Ahmedabad, S P Jain Institute of Management & Research (SPJIMR) Mumbai, IIM Bangalore, Great Lakes Institute of Management Chennai, NMIMS Universitys School of Business Management Mumbai and IIM Lucknow are some of the other Indian schools which are already members of this council which boasts of around 211 members all across the world.
So how does it help the member b-schools? Ashish Bhardwaj, Regional Director of South Asia, GMAC says, “It gives these b-schools an opportunity to influence graduate management education, especially in Asia. They will get opportunities of student and faculty exchange, develop joint programs and improve visibility worldwide.”
Parimal Merchant, director, Center for Family Managed Businesses of SPJIMR which is also a member b-school elucidates the benefits of being a member. “Members get to attend the global GMAC meetings where you get to meet a lot of people and know about the best global practices. You also understand how to use test scores better. For example, Common Admission Test (CAT) only gives an absolute score but you cannot use it beyond that to understand the skills of the aspirant. GMAC has done a lot of work in this area,” he says.
In a press release sent to this online magazine, Fr. E. Abraham, director of XLRI, expressed happiness over the development. He states, “Till now, we have been considering Graduate Management Admission Test (GMAT) scores as a criterion for admission to our GMP (Executive MBA) program. With the launch of the new Global MBA Programme, where we intend to give our students greater global exposure, GMAT would definitely be an important admission criterion for students’ selection procedure. We now have broader access to research and market intelligence, worldwide professional development opportunities and marketing and recruiting tools and programs of international standards provided by GMAC.”