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The IUP Journal of Management Research :
Teaching Concepts of Probability: A Case Study Methodology for B-Schools
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In management programs, quantitative methods are taught as a core course leading to a Master of Business Administration (MBA) or an equivalent degree in various universities. This course covers the probability theory and distributions. Teaching the concept of probability to management students is a significant challenge as students come from different graduation streams and do not have any uniform level of understanding of mathematical concepts and complexity of content. In this paper, the authors have used the case study methodology to make students understand the complexity of the probability theory and distribution.

 
 
 

A wide majority of students opt for a Master of Business Administration (MBA) degree after completion of their graduation, primarily because the current trend demands at least a postgraduate degree to get a middle management job, which the students aspire for. The popularity of this course is growing rapidly and more and more students are opting for the same, because of good career options and industry placements.

Master of Business Administration, as a course, facilitates learning of theoretical concepts for practical applications through methodologies like case studies, simulations, operational workouts, live projects, management thesis, internship programs, etc. In a nutshell, it is all about sound decision making in business dynamics. The course is becoming popular globally because of increasing utility of the MBA programs across industries, business sectors and economies.

Ideally, an MBA should possess skills needed to discover new opportunities for organizational growth and to drive it through troubled times. Therefore, MBA programs are structured to make one responsive to different environments and teach various approaches to manage business organizations. However, the principal quality that corporate recruiters look for is effective decision making capability along with good interpersonal skills, analytical aptitude and leadership qualities.

 
 
 

Management Research Journal, Master of Business Administration, MBA, Globalization, Organizations, Case Study Methodology, Sri Sai Shakti Trade Links, SSSTL, Decision-Making, Effective Teaching Methodology, New International Publishers, New Age International Pvt. Limited, Harward Business School Cases.