Future Group, led by its founder and Group CEO, Kishore Biyani, is one of India’s top business houses with multiple businesses spread across the area of consumption. Retail forms its major business activity. Its group subsidiaries are also present in consumer finance, capital, insurance, leisure and entertainment, brand development, retail real estate development, retail media and logistics.
Future Group has entered the education business through Future Human Development Ltd (FHDL), its comprehensive training, education and support services subsidiary. Future Innoversity is the academic initiative of FHDL.
Future Innoversity’s primarily role is to impart relevant and quality education for all sectors, starting with retail, through a specialized mix of management, undergraduate and certificate programs. It has entered into a strategic alliance with Indira Gandhi National Open University (IGNOU) to offer these programs. The focus of 2010 will be MBA Retail and MBA Entrepreneurship.
In order to answer the queries of its readers on MBA Retail and MBA Entrepreneurship at FHDL, MBAUniverse.com brings to you the exclusive interview with FHDL.
Excerpts from the Interview:
Q. What is the reason for India’s leading Retail Company Future Group to enter the education and training domain?
A: Future Group entered into the education business by setting up Future Human Development Ltd.(FHDL) in 2008 with the primary focus of creating talent in the consumption industry, whether it is retail, hospitality, telecom or any similar industry.
Q: What is the relevance of pursuing two-year Post-Graduate Programs in Retail & Entrepreneurship? What are the prospects in general?
A: Revival of economic growth and increasing purchasing power of consumers outline the massive potential for growth of the consumption sector and the related segments like services and modern retail in India. The growth of the services sector and consumer-led industries like modern retail has created a huge demand for trained manpower to sustain and build upon this growth. Every company in the services and retail sector feels the dearth of skilled professionals which can be somewhat attributed to the lack of relevant and quality education in retail domain.
The retail sector is set for exponential growth with Future Group alone set to double its footprint over the next few years. It is becoming increasingly challenging to find people to manage its various stores and related retail functions. Future Group is on the look-out for effective managerial talent who possess sound understanding of the principles and practices of managing its retail chains.
Being the training solution provider of Future Group, FHDL is taking this great initiative of offering a Post Graduate Program which is not only relevant for the retail but for the Service Industries with a distinguishing combination of academic excellence and industry relevance in association with renowned university IGNOU, thus developing talent to cater to the growing retail industry in India.
Q: What are the highlights and the key strengths of FHDL-IGNOU combined endeavor?
A: IGNOU and Future Innoversity have taken the great initiative of offering graduation and post graduation programs with a distinguishing combination of academic excellence and industry relevance. They will offer both Undergraduate programs and Post Graduate programs under credit and few other short term programs under Non Credit.
Their objectives are to encourage and impart knowledge in the field of retail management, retail operations and General Management. IGNOU and FHDL also aim to develop and evolve as a Centre of Excellence in this part of the world for various career oriented learning streams. Promotion of professional and industry oriented education through the industry-institution collaboration model is their major focus.
Q: What makes the courses offered by you so unique? Could you provide the admission details? What will be the selection process?
A: A judicious mix of classroom teaching reinforced with on the job training allow students to critically analyze the retailing process, the environment within which it operates and the functions that are performed. Future Innoversity’s holistic education is not only based on the science of management but also on its cultural adaptation that has been applied and tested in the day-to-day running of business. These programmes have the latest management concepts and tools to transform students into tomorrow’s indispensable leaders
The applicant must be a graduate (10+2+3) or above with a minimum 50 per cent from a UGC recognized University. Those who have appeared for the final year examination of graduation can also apply. The students are required to submit the duly filled in application form at the FHDL centre in Mumbai with the proof of qualification (Provisional certificate copy in case the degree certificate is not available) and also their high school mark-sheet.
Candidates meeting the eligibility criteria will have to appear for an entrance exam. Candidates who have already appeared for entrance exam CAT / CET / MAT / ATMA / XAT need not go through the entrance exam by FHDL. They have to attach the copy of the score sheet along with the application form. There is no specific cut off score required in CAT / CET / MAT / ATMA/ XAT to apply. But they need to appear for GD/ PI.
Candidates short listed from the written test will be called for a Group Discussion and Personal Interview.
Candidates qualifying the Group Discussion and Personal Interview will be sent an ‘Admission Letter’ from the office of FHDL, Mumbai. The selected candidates at the time of admission will need to submit attested photocopies of their Graduation Certificate and Mark Sheet. The Demand Draft must be drawn in favor of Future Human Development Ltd payable at Mumbai. The originals will be returned by the institute after verification. Two passport size photographs will be required for the purpose of ID card. Candidates have to be physically present for admission at the FHDL Campus. The address of the Campuses is given in the Prospectus. MBA Retail program is offered in FHDL Campuses located in Ahmedabad, Bengaluru, Delhi and Kolkata.
For more information, kindly refer to the link below:
Q: What are the placement opportunities for graduates from your institute?
A: The students will be placed in any of the Future group formats after successful completion of their course. The company will provide salary at par with the industry standards and company policies.
Q: Are the programs - AICTE approved or, is Industry recognition enough?
A: The degree conferred by IGNOU is AICTE approved. Future Group will also give a certificate of field training.
Q: Compared with other MBA programs offered in Retail sector, how are your programs different or unique?
A: Our management programs are the result of a collaborative effort of India’s leading retailer Future Group and world renowned university IGNOU. The MBA degree is awarded by IGNOU while the Certificate of Field Training comes from Future Group. These programs are a blend of academic concepts with proven contemporary practices with Future Group. Content is written by experts drawn from premier institutes and senior professionals from the industry. Innovative teaching methodology with ‘story telling mode’ and tools like ‘learning by asking’ will be put into practice. There will be full time on campus programs at the State of Art campuses at Ahmedabad, Bengaluru, Delhi and Kolkata. Practical learning will be imparted through internship guided by experienced mentors in the company. The successful pass-out graduates will get assured placements in formats like Big Bazaar, Pantaloons and Central at several locations across the country.
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