NMIMS is known to introduce programs that are unique and target niche areas of specializations. With the rich tradition of the School of Business Management (SBM) has launched in association with NMIMS School of Law, a new generation program titled MBA (Law). This two-year full time degree program will connect dots between Law, Business and Management.
Law and business are more interconnected than ever. As we move forward lawyers will need to have deeper business insights with understanding of corporate strategies, marketing, finance, operations and human resource management, organisational dynamics, business risks and compliance requirements. They need to have appropriate soft skills and inputs for emotional intelligence for achieving better application orientation with quality and speed of deliverables. More and more corporations have turned to lawyers to serve as CEOs or in other business roles, especially when the firms operate in highly regulated markets. NMIMS, School of Business Management has developed a two year MBA program to address the needs of students interested in business & law.
Responsible corporate managers can rarely make any significant business decisions without awareness of the possible legal implications. Conversely, lawyers who advise corporate management must have an awareness of the business implications of their legal advice. There is always strong demand for those with the skills and understanding of the interwoven aspects of both business and law.
MBA (Law) bridges the knowledge gap by bringing management and law together. All the MBA courses teach management skills but they remain lacking in the knowledge of corporate, IPR and Commercial Law. In the current scenario more mergers and acquisitions are taking place and a mere law graduate or a mere MBA graduate may not be capable to handle such cases.
SBM, NMIMS' MBA (Law) Program is the first program of its kind in the nation. It equips its students for success, whether they aspire for leadership in business and know the value of legal expertise, or whether they're primarily interested in a career in law but seek a solid foundation in management.
There are several advantages of having leaders with a lawyer’s eye for detail and a manager’s understanding of business process in an organization. A few of the benefits to the organization enlisting the services of leaders of such background are:
Graduated students from this program will be able to:
MBA (Law) Program will prepare students with necessary knowledge and skills of business administration along with enhanced knowledge of business laws both from domestic and global perspectives. It will also provide application orientations to all young lawyers aspiring to excel in corporate and consulting world, with explicit skill sets for business administration and major relevant laws.
With growing need of business legal professionals in rapidly globalising economy, the market presents new challenges as well as new opportunities. To connect the dots between law and business management we have introduced a new generation programme MBA (Law) by the School of Business Management, NMIMS, Mumbai in association with the School of Law.
Graduates with three or five year LLB degree or professional degrees like Chartered Accountancy, Company Secretary or Cost Accountancy get opportunity to learn and enhance knowledge of business laws and business administration from a global perspective. With economies integrating into the world market, knowledge of both management and law, across sectors such as finance, marketing, sales, supply chain, leadership, management, business development and negotiation abilities are required for the range and expertise needed to succeed in this dynamic environment.
In our journey, we have always received support from the industry who have seen a value
proposition in our offerings. The new course marks a beginning of extending this association. I would
like to take this opportunity to request the companies for continued support to our students of MBA
(Law). I am most certain that you will have an engaging placement process this year.
-Dr. Ramesh Bhat
Vice Provost (Academics) &
Dean - School of Business Management
Distinguished faculty from academia and industry will deliver the program through lectures, presentations, and contemporary simulation based interactive case studies to facilitate application oriented practical implementation of theories and concepts.
Students will be engaged in discussions based on pre-circulated published papers, case studies and small caselets with complex problems drawn from critical issues faced by industries. Case studies from HBS Case Library will be discussed for analytically dealing with various types of problems and issues related to legal and business management related courses as well as tools and methodologies for resolution thereof. Students will also be exposed to management films and lectures of renowned professors and world class consultants/practitioner’s. Some of the classes will be conducted in a workshop mode for bringing in application orientation.
Students will also be benefitted by working on assigned projects and collective / shared learning from writing papers and short presentations on assigned projects covering the course content.
Following are the salient features of program structure for MBA (Law):
- Economics – 1,
- Operations and decision sciences – 1,
- Statistical Analysis – 0.5,
- Operations Research – 0.5,
- Marketing – 2,
- Human Resources – 3,
- Business Environment and Strategy – 3,
- Communication including Negotiations – 3, and
- Finance – 9.
Major sectors needing these professionals are Manufacturing; Service Industries; Government & PSUs; FMCG; Infrastructure; Education; Healthcare; Retail; Tourism & Hospitality; Automobile; Banking; Finance; Insurance, Consultancy.
MBA (Law) graduates can assist these industries in the following areas.
In House Counsel: These attorneys assist large businesses with the management of their legal affairs. They are also responsible for developing legal policies that guide the business operations of the company. The MBA (Law) graduate provides a large benefit since clients are business unit leaders and could ask questions about structuring deals, contracts and even approaching litigation.
Management Consultant: These consultants help businesses improve their performance by focusing on business strategy, structure, management and operations. The business fundamentals learnt in business school and the logical reasoning obtained in law school make MBA(Law) graduates a great choice for such roles.
Business Law: Corporate lawyers handle complex transactional matters involving business mergers, acquisitions and corporate restructuring. They may also deal with real estate transactions, intellectual property, private equity and white collar crimes.
There might be an amalgamation of these roles or just a standalone portfolio. But MBA(Law) graduates are going to be trailblazers and highly sought after professionals in the changing phase of our economy and any organisation which inculcates these professionals is bound to benefit immensely.
The following students will be eligible to join the two-year degree program:
Prospective candidates are admitted through NMAT and / or an intensive personal interview. This interview will be preceded by a written test for a total of 100 marks and will include, Objective questions of 75 marks and an essay of 25 marks. The objective questions will be on the following areas:
1. Logical Reasoning: 25 Marks
2. Legal Reasoning: 25 Marks
3. English Language: 25 Marks
Successful candidates passing through this process will be admitted to the two-year full time MBA (Law) Program.
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Dr. Paritosh Basu (Sr. Professor & Program Chairperson MBA (LAW)) along with Mr. Sanjay Jain (Group CFO Future Group, India) Discussing Importance and Relevance of MBA law program