brm final project (2)

8/6/2019 BRM Final Project (2)

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Submitted to: Submitted by:

Prof. Jinal Parikh Milan Malkan [B-18]

Rachna Shah [B-44]

BRM

PROJECT

REPORT

Is Science losing its sheen to

Management?


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Acknowledgement:

The survey and the report prepared is an effort of a vibrant team. We

sincerely acknowledge the interest shown in our survey by our teachers,

friends and other people who willingly shared their opinion on thetrends, they believe in. Their contribution has helped us in drawing a

conclusion about why they are doing master course, what is the current

market scenario for master holders and analysis of students of science

background doing management course.

We specially thank our Professor Jinal Parikh for her constant

encouragement and supportive ideas.

In this report we have incorporated the valuable suggestions of as many

people as possible. The survey was an integral part of our report. We

have also used internet for more accurate and authentic information.

The analysis was done on the basis of the statistics provided by the

survey. The evaluations and the graphs are presented for better

understanding. The questionnaire that was used for the survey is also

enclosed.


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Table of Contents:

Sr.No. Contents Page No.

1 Executive Summary IV

2 Problem Definition V

3 Literature Review V

4 Approach to the problem X

5 Research Methodology X

6 Data Collection X

7 Sample Design XI

8 Instruments Used XI

9 Analysis XII

10 Conclusion XVII

11 Bibliography XVIII

12 Appendices XVIII


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Executive Summary:At present, Management is a growing trend. Number of students opting for management

studies is increasing. But many students who opt for management are from science

background. Our main aim to do this research was to find out why they are opting for

management in their masters after their graduation in science. We interviewed experts who are

presently having the techno-commercial skills.

We have done our survey among 100 students from different background in their bachelor and

pursuing master degree. Out of 100 students 50 were management and 50 were from their

own stream. We have chosen them via convenient sampling.

Different questionnaires were given to both the streams. We asked them the main reason foropting for either Management or Science. We found that the main reason for choosing

management over science was for better prospects and for better growth opportunities. They

believe that the combination of science and management will help them more in their career,

enhance their skills, and will broaden their vision. Most of them want to do business in future.

On the other side, the students who pursued science over management were wanted to excel

in their fields and want to gain the expertise. They want to go in research field. Majority of the

science students dont intend to pursue management in future. Almost all the students fromboth the fields are satisfied with what they are studying. Though most of science students are

prefer to join management because of high demand in now a days but science is not losing its

sheen to management.


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Problem Definition:

More and more students who did their graduation in science field

are now pursuing their masters in management instead of doing

masters in their own field.

Literature Review:These statistics depicts the percentage of students from various

fields, who are presently studying in various B-schools.

Here's a list of the batch profiles of some of the top B-schools across

India.


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VII

IIM-A (Batch: 2005-07; Total Number of Students: 247)

IIM-B (Batch: 2005-07; Total Number of Students: 197)

Academic background

Engineering-79%

Commerce-14%

Arts-1%

Management-1%

Science-5%

Academic background

Engineering-80%

Commerce-11%

Arts-5%

Science-2%

Others-2%


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XLRI (PM&IR Batch: 2005-07; Total Number of Students: 66)

ISB (Batch: 2006-07; Total Number of Students: 273)

Academic background

Engineering-60%

Commerce-9%

Management-11%

Science-9%

Others-11%

Academic background

Engineering-74%

Commerce-1%

Arts-2%

Management-2%

Science-16%

Others-5%


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IIM-I (Batch: 2005-07; Total Number of Students: 112)

The need for techno-commercial skill is increasing in the

market.

Example: Pharma industry

The pharmaceutical industry is facing the challenge of change on several

fronts. Companies are restructuring themselves for increasing their

efficiency. The need for Techno - Commercial skills are increasingly

being felt by the industry now and are becoming important day-by-day

for pharmaceutical R&D management. Torrent pharma has a special

department that uses the techno-commercial experts.

Academic background

Engineering-50%

Commerce-23%

Arts-8%

Management-8%

Science-6%

Others-5%


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Major Functions:

Project Management of Research Projects Intellectual Property Protection (Patents) Licensing of Research Projects Financial Activities viz., budgeting, costing etc.

Project Management:

Techno-Commercial department manages all the projects, which essentially

implies planning for the entire project and then mapping the progress with

respect to milestones.

Financial Evaluation:

Value of a project is determined, keeping following parameters in mind viz.

prevalence of disease, existing therapy, cost of therapy probability of

success/failure, cost incurred in clinical trials etc.

TCM (Techno-Commercial management) has highly qualified MBA's & Science

professionals having several years of experience who undertake this job.

Intellectual property protection:

Torrent realized this scenario long back and has a fully functional Patent Cellwith Doctorates, who are looking after all aspects of Intellectual property

protection.

Licensing:

The department is actively involved in licensing activities and has a fully

functional team having member from diverse field of Management and

Science. This team communicates with major International Pharmaceutical

companies for licensing opportunities.

Financial Activities:

Techno - Commercial department also has a costing cell having a Qualified

Cost - Accountant looking after different financial aspects like budgeting,

costing etc.


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XI

Approach to the problem:

Qualitative Research

Research Methodology:Exploratory Research

Data Collection:

Primary data is collected through questionnaire andinterview.

Secondary data is collected from internet.


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Sample Design:

Non probability SampleConvenient samplingSample size- 100

Instruments used:

QuestionnaireInterview


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Analysis:

Expert Opinion:

People generally pursue management because initially they dont knowwhat they want in their life. As they progress in their studies, they start

exploring other alternatives. This is one of the main reasons why they

pursue science initially and then end up taking management as they

discover at a very later stage that they need managerial skills.

Better jobs are the main reason for pursuing M.B.A. I truly believe thatM.B.A is not an extension to any degree but it is an add-on.

We did our survey among 100 students from

different backgrounds in their bachelors and pursuing

master degree in management or science. Out of 100

students, 50 were doing their masters in management

and 50 were doing their masters in science.


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XIV

Students who are from Science background andpursuing Management:Reasons for pursuing Management: Masters in management is necessary to get promotion in the company lots of

opportunity for managers. Faster way to reach top level management. For doing business in future. To get good job. Go beyond technical knowledge Wanted to pursue it for a combination- tech+ mgmt skill Market exposure Sharpen the vision Felt as if something was missing after doing engineering

Skills required in current market scenario: Communication Decision making power Leadership Quality Technical knowledge Selling skills Information Awareness Good Time management Emotional Intelligence Vision Risk taking

Innovation and adaptability

Reasons for discontinuing science stream: High demand for management in current scenario. For better future Interested in management subjects. Didnthave any other option. (No admissions in M. Tech or masters in their

relative field.)

How will you use the combination SCIENCE+MANAGEMENT?

For joining in engineering related company so one can also use engineeringknowledge.

To start a new business. Getting a better position in the jobs , Both are required in the industry rather than an expertise in any one of

them.


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Students who are from science background andpursuing master in their own stream

Reasons for pursuing master in their own field: For satisfying need to know the subject more as well as the demand ofcompetition going around ones.

Because of interested in research work For increasing knowledge in particular field Interest in their own field For working with latest technology. Interest in the field To get expertise

What about the growth potential? Good growth potential Growth as a researcher A good growth Definitely high

Skills required in current market scenario:

Good technical knowledge Good management skills Good communication skills Time management Smart work Developing new technologies which are cost effective Getting acquainted with new technologies Team work Hard work Leadership qualities Ability to take responsibility


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XVI

The demand for people with technical skills acquired afterpost-graduation in science field is as good as the demand for

people with techno-commercial skills.

According to our research most of students believe that thedemand for people with technical skills acquired after postgraduation in science field is as good as the demand for

people with techno-commercial skills.

0

5

10

15

20

25

30

Strongly

Disagree

Disagree Neutral Agree Strongly

Agree

Demand for people with Techno-

Commercial skills


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XVII

Are you satisfied with what you are studying?

According to our survey around 90% people are satisfiedwith their stream. Those, unsatisfied with their stream,

generally choose that stream because initially they dontknow what they want in their life. As they progress in their

studies, they start exploring other alternatives.

0

5

10

15

20

25

30

35

40

45

Yes No

Satisfaction Level


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XVIII

Conclusion:

We found that the main reason for choosingmanagement over science was for better prospects and

for better growth opportunities.

They believe that the combination of science andmanagementwill help them more in their career,

enhance their skills, and will broaden their vision.

On the other side, the students who pursued scienceover management opined that they wanted to excel in

their fields and want togain the expertise.

Hence most of Science students pursue managementbecause they feel only science will not help them. They

still believe that technical as well as techno-

commercialskills are equally important. But they

pursue it for more growth opportunities.

They still believe thattechnical as well as techno-commercial skills are equally important. But they

pursue it for more growth opportunities.


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Bibliography:

Business Research Methodology by C.R.Kotharihttp://www.careerlauncher.com/mba/about_mba/mba

_student_profile_in_b_schools.html

http://www.torrentpharma.com/dept_techno_com.php

Appendices:

Questionnaire
http://www.careerlauncher.com/mba/about_mba/mba_student_profile_in_b_schools.htmlhttp://www.careerlauncher.com/mba/about_mba/mba_student_profile_in_b_schools.htmlhttp://www.careerlauncher.com/mba/about_mba/mba_student_profile_in_b_schools.htmlhttp://www.careerlauncher.com/mba/about_mba/mba_student_profile_in_b_schools.htmlhttp://www.torrentpharma.com/dept_techno_com.phphttp://www.torrentpharma.com/dept_techno_com.phphttp://www.torrentpharma.com/dept_techno_com.phphttp://www.torrentpharma.com/dept_techno_com.phphttp://www.careerlauncher.com/mba/about_mba/mba_student_profile_in_b_schools.htmlhttp://www.careerlauncher.com/mba/about_mba/mba_student_profile_in_b_schools.html

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