Indian Institute of Management Calcutta (IIMC) has renamed the Post Graduate Program for Executives (PGPEX) to MBA for Executives program. This move of IIMC will change the status of one-year diploma programs in India. Prior to IIM-C, IIM-Ahmedabad and IIM-Bangalore have incorporated these nomenclature changes in their constitution.
“From the upcoming convocation on April 6, we are giving MBA for executives program instead of PGPEX. It is our regular one-year program for executives working in the industry,” said a source. He added, “the program was initiated in 2006 and this will be the 12th batch. The MBA-EP will be handed over to 66 candidates.”
The program has been renamed only after the Board of Governors (BOG) – the highest decision-making body of the institute, gave a go-ahead to the proposal.
“This is as per the IIM Act. We are going by the provision in the Act to grant degrees. The BOG has approved the one year program to be renamed,” pointed out a source.
Changing the names of the two-year PGDM and awarding fellows Ph.D. has been approved by the BOG earlier. “The nomenclature of MBA and Ph.D. is more accepted worldwide and will have a high value. It is aligned with the international nomenclature of business management degrees. Worldwide no institute conferred PGDM to the Business management graduates. It was always an MBA. While the market did recognize PGDM from the IIMs to be equivalent, now the confusion, if any, in the minds of employers will be settled,” said a student.
Also, a teacher pointed out that awarding degrees will put IIMC at par with stakeholders expectation fulfillment. “It will definitely add to the prestige in a sense that power to award degrees is now given to IIMs which are among the most coveted B-Schools in the world,” she said.
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