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Project Report on Factors contributing to the satisfaction/dissatisfaction levels in MBA program through Factor Analysis.

MBA Banking

Annu Asthana Roll !o."# $inshuk A%asthi Roll !o. &# 'aurav $umar Roll !o. (&# )autam M Roll !o. *+# Anushital Roll !o. *&# 'uman Ramuni Roll !o. *,#

CONTENTS
Introduction Research Methodology o Research Objective o Research Tools o Sampling Literature Survey Theoretical Framework escriptive Statistics ata !nalysis Factor !nalysis "onclusion !ppendi# ! $ Research %uestionnaire

INTRODUCTION
&ith over '(( b)schools all over India* selecting the right one is a tough task +or any M,! aspirant- Most o+ such institutions are evenly poised in many ways and the maga.ine surveys which come every year does not give the whole picture- Most o+ the decisions are made on the basis o+ college brand name and placement records- ,ut once an individual takes admission in one o+ those coveted institutions* his/her priorities might change- The +actors leading to the satis+action o+ a M,! student may not be placements or brand name o+ the college- The broad objective o+ this research is to +ind out the key +actors which increase satis+action levels o+ students in a b)schoolThrough literature survey and personal e#perience* the +actors that directly in+luence satis+action levels were identi+ied and the theoretical +ramework was +ormulated- ! 0uestionnaire was +ormulated which asked indirect 0uestions relating to all variables mentioned in the theoretical +ramework and was circulated among a convenience sample o+ 1(- The results were analy.ed using S2SS +actor analysis and critical parameters which +ormulate the key +actor were identi+ied- !ll these steps are described in detail in the sections to +ollow-

RESEARCH METHODOLOGY
RESEARCH OBJECTIVE
To identi+y the +actors contributing to the satis+action levels o+ a M,! program To prioriti.e the di++erent identi+ied variables according to level o+ importance in an M,! course

RESEARCH TOOLS
S2SS will be used +or data entry and analysis- The +actor analysis +unction in it will be used to analy.e the data

SAMPLING
Sample size: 1( Samplin Te!"ni#$e: "onvenience Sampling

Ta% e& P'p$la&i'n: '- Students pursuing M,! across di++erent ,)Schools o+ India 3- "orporates already holding an M,! degree 4- !spirants +or an M,! program

5Samples were selected all across India6

LITERATURE SURVEY
Relevant articles coming in top Indian business maga.ines were analy.ed to narrow down the key variables- This was +urther substantiated by personal interviews with students and own e#periences- 7ven though most o+ the maga.ines emphasi.ed on placement records and big brand names* students8 reactions were di++erent- 9alue addition in the two years o+ the program was considered most important by most students- These inputs motivated to do an e#tensive research all across India to +ind out the +actThe theoretical +ramework was +ormulated based on such +indings and was used throughout the research-

THEORETICAL (RAME)OR*

Placements

(M-./RA01!) 2ariable)

DESCRIPTIVE STATISTICS

Frequency Strongly Agree Agree Total 30 20 0

Percent 60.0 40.0 100.0

Valid Percent 60.0 40.0 100.0

Cumulative Percent 60.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Total 16 26 6 2 0

Percent 32.0 2.0 12.0 4.0 100.0

Valid Percent 32.0 2.0 12.0 4.0 100.0

Cumulative Percent 32.0 !4.0 "6.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Total 3 4 6 0

Percent 10.0 %0.0 !.0 12.0 100.0

Valid Percent 10.0 %0.0 !.0 12.0 100.0

Cumulative Percent 10.0 !0.0 !!.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Strongly #i$agree Total 6 1! 14 ! 4 0

Percent 12.0 36.0 2!.0 16.0 !.0 100.0

Valid Percent 12.0 36.0 2!.0 16.0 !.0 100.0

Cumulative Percent 12.0 4!.0 %6.0 "2.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Total 16 2" 1 4 0

Percent 32.0 !.0 2.0 !.0 100.0

Valid Percent 32.0 !.0 2.0 !.0 100.0

Cumulative Percent 32.0 "0.0 "2.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Strongly #i$agree Total 4 1% 1! 10 1 0

Percent !.0 34.0 36.0 20.0 2.0 100.0

Valid Percent !.0 34.0 36.0 20.0 2.0 100.0

Cumulative Percent !.0 42.0 %!.0 "!.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Total 1" 21 ! 2 0

Percent 3!.0 42.0 16.0 4.0 100.0

Valid Percent 3!.0 42.0 16.0 4.0 100.0

Cumulative Percent 3!.0 !0.0 "6.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Total 1 0 16 2!

Percent 32.0 6.0 10.0 2.0 100.0

Valid Percent 32.0 6.0 10.0 2.0 100.0

Cumulative Percent 32.0 !!.0 "!.0 100.0

Frequency Valid Strongly Agree Agree Cant Say Strongly #i$agree Total 34 12 3 1 0

Percent 6!.0 24.0 6.0 2.0 100.0

Valid Percent 6!.0 24.0 6.0 2.0 100.0

Cumulative Percent 6!.0 "2.0 "!.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Total 21 20 % 2 0

Percent 42.0 40.0 14.0 4.0 100.0

Valid Percent 42.0 40.0 14.0 4.0 100.0

Cumulative Percent 42.0 !2.0 "6.0 100.0

Frequency Valid Strongly Agree Agree #i$agree Total 31 1 4 0

Percent 62.0 30.0 !.0 100.0

Valid Percent 62.0 30.0 !.0 100.0

Cumulative Percent 62.0 "2.0 100.0

Frequency Valid Strongly Agree Agree Cant Say Total 21 2 4 0

Percent 42.0 0.0 !.0 100.0

Valid Percent 42.0 0.0 !.0 100.0

Cumulative Percent 42.0 "2.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Strongly #i$agree Total 13 1! 6 12 1 0

Percent 26.0 36.0 12.0 24.0 2.0 100.0

Valid Percent 26.0 36.0 12.0 24.0 2.0 100.0

Cumulative Percent 26.0 62.0 %4.0 "!.0 100.0

Frequency Valid Strongly Agree Agree Cant Say #i$agree Strongly #i$agree Total 1 1% 13 1 4 0

Percent 2.0 34.0 26.0 30.0 !.0 100.0

Valid Percent 2.0 34.0 26.0 30.0 !.0 100.0

Cumulative Percent 2.0 36.0 62.0 "2.0 100.0

Frequency Valid Conventinal &lac'(oard )et*od PPT &a$ed Ca$e Study (a$ed Sel+ Study Total 2 3 44 1 0

Percent 4.0 6.0 !!.0 2.0 100.0

Valid Percent 4.0 6.0 !!.0 2.0 100.0

Cumulative Percent 4.0 10.0 "!.0 100.0

DATA ANALYSIS
Communalities
T*e ta(le (elo, $*o,$ t*e out-ut o+ -rinci-le data e.traction o+ t*e variou$ +actor$/1 0 under t*e $tudy. T*e initial communalitie$ are e$timate$ o+ t*e initial variance in eac* varia(le accounted +or (y all com-onent$1+actor$. For -rinci-al com-onent$2 t*i$ i$ al,ay$ equal to 1. T*e e.tracted communalitie$ are e$timate$ o+ t*e variance in eac* varia(le accounted +or (y t*e com-onent$1+actor$. T*e e.tracted value$ are quite *ig* $*o,ing t*at t*e variance in t*e varia(le$ i$ ,ell e.-lained (y t*e +actor$ generated.
3nitial &rand name15e-utation -lay$ t*e mo$t im-ortant role ,*ile o-ting +or a &6 Sc*ool. Strong Alumni (a$e i$ a +actor ,*ic* increa$e$ t*e motivation level$ ,*ile -ur$uing an )&A -rogram. Peer$1Friend$1Colleague$ in+luence your vie,$ a(out a -articular )&A Cour$e An e.*au$tive and a good 7i(rary i$ an inevita(le +actor to (e con$idered ,*ile c*oo$ing +or a good &6Sc*ool. 8ood in+ra$tructure +acilitie$ attract$ you to,ard$ a -articular &6 Sc*ool. #o you t*in' t*at t*e current curriculum +ollo,ed in t*e 3ndian &6Sc*ool$ -re-are$ you to +ace t*e cor-orate ,orld9 1.000 4.traction .%""

1.000

.%03

1.000

.!1%

1.000

.601

1.000

.662

1.000

.646

5e$idential education/*o$tel +acility0 rai$e$ t*e $ati$+action level$ o+ an )&A Program. 5e-utation$ o+ t*e +aculty al$o motivate$ you ,*ile -ur$uing an )&A Program An )&A Program i$ incom-lete ,it*out -ro-er indu$try inter+ace./gue$t lecturer$ +rom t*e indu$try2 C4: $erie$ etc0 8ood Student Faculty ratio al$o determine$ t*e quality o+ an )&A Program 8etting a good Placement i$ t*e mo$t im-ortant +actor +or -ur$uing an )&A Program 4.tracurricular activitie$ al$o -lay a crucial role +or t*e value addition during an )&A Cour$e 7ocation o+ t*e college i$ t*e deciding +actor ,*ile con$idering (et,een t,o &6 Sc*ool$ o+ t*e $ame re-utation level$ Survey$ conducted (y di++erent maga;ine$ li'e :utloo'2 3ndia Today2 &u$ine$$ <orld give$ a com-lete -icture and in+luence$ your deci$ion ,*ile c*oo$ing a &6Sc*ool

1.000

.%%2

1.000

.%6!

1.000

.%!%

1.000

.660

1.000

.6!1

1.000

.6!6

1.000

.610

1.000

. 2%

Total Variance Explained

T*e ta(le (elo, $*o,$ t*e total variance /in -ercentage0 e.-lained (y eac* o+ t*e 6 +actor$. T*e cumulative variance o+ all t*e +actor$ *a$ come out to (e 6".414= ,*ic* i$ (etter t*an t*e e.-ected1de$ired average o+ 60=. T*e $y$tem $to-$ t*e iteration at 6 +actor$ (ecau$e t*e = variance e.-lained (y any +actor $*ould not go (elo, 1114 > %=.

3nitial 4igenvalue$ Com-onent 1 2 3 4 6 % ! " 10 11 12 13 14 Total 2.%03 1."4! 1.6!! 1.263 1.114 1.002 ."44 .%" .636 . "4 .46! .334 .316 .1"6 = o+ Variance 1".30! 13."11 12.0 " ".01" %." %.161 6.%40 .6%6 4. 43 4.243 3.340 2.3! 2.2 ! 1.3"" Cumulative = 1".30! 33.220 4 .2%" 4.2"! 62.2 3 6".414 %6.1 4 !1.!31 !6.3%4 "0.61% "3." % "6.343 "!.601 100.000

4.traction Sum$ o+ Squared 7oading$ Total 2.%03 1."4! 1.6!! 1.263 1.114 1.002 = o+ Variance 1".30! 13."11 12.0 " ".01" %." %.161 Cumulative = 1".30! 33.220 4 .2%" 4.2"! 62.2 3 6".414

.Component Matrix T*e ta(le (elo, $*o,$ t*e +actor loading$ /correlation$0 o+ all t*e 14 varia(le$ under $tudy in term$ o+ 6 +actor$. T*e +actor loading$ -rovide an indication o+ ,*ic* original varia(le$ are correlated ,it* eac* +actor and t*e e.tent o+ t*e correlation. T*i$ in+ormation i$ u$ed later to identi+y and la(el t*e uno($erva(le +actor$ $u(?ectively.
Com-onent 1 &rand name15e-utation -lay$ t*e mo$t im-ortant role ,*ile o-ting +or a &6 Sc*ool. Strong Alumni (a$e i$ a +actor ,*ic* increa$e$ t*e motivation level$ ,*ile -ur$uing an )&A -rogram. Peer$1Friend$1Colleague$ in+luence your vie,$ a(out a -articular )&A Cour$e An e.*au$tive and a good 7i(rary i$ an inevita(le +actor to (e con$idered ,*ile c*oo$ing +or a good &6Sc*ool. 8ood in+ra$tructure +acilitie$ attract$ you to,ard$ a -articular &6 Sc*ool. #o you t*in' t*at t*e current curriculum +ollo,ed in t*e 3ndian &6Sc*ool$ -re-are$ you to +ace t*e cor-orate ,orld9 6.01 2 .201 3 . 21 4 6.026 .022 6 6.6"6

. 60

6.1%2

.402

6.426

.12!

.01

.31

.0!4

.0 4

.142

.!2%

.06

.%2%

6.06

6.230

.0"%

6.002

.0%6

. 4"

.030

6.4!0

.31%

.163

.04

. 0!

.616

.032

.016

6.0!2

6.02"

5e$idential education/*o$tel +acility0 rai$e$ t*e $ati$+action level$ o+ an )&A Program. 5e-utation$ o+ t*e +aculty al$o motivate$ you ,*ile -ur$uing an )&A Program An )&A Program i$ incom-lete ,it*out -ro-er indu$try inter+ace./gue$t lecturer$ +rom t*e indu$try2 C4: $erie$ etc0 8ood Student Faculty ratio al$o determine$ t*e quality o+ an )&A Program 8etting a good Placement i$ t*e mo$t im-ortant +actor +or -ur$uing an )&A Program 4.tracurricular activitie$ al$o -lay a crucial role +or t*e value addition during an )&A Cour$e 7ocation o+ t*e college i$ t*e deciding +actor ,*ile con$idering (et,een t,o &6 Sc*ool$ o+ t*e $ame re-utation level$ Survey$ conducted (y di++erent maga;ine$ li'e :utloo'2 3ndia Today2 &u$ine$$ <orld give$ a com-lete -icture and in+luence$ your deci$ion ,*ile c*oo$ing a &6Sc*ool

.0

. 4

.364

. %"

.0 6

6.01

.612

6. 62

.1 6

.121

.0 !

6.1!%

.3!0

.0 3

.64

6.331

.02

.33!

.62"

.03%

6.163

6.26%

6.3!0

6.14

6.21%

.620

.06%

6.30

.0!1

.3!2

.360

6.0 1

.246

.414

6.43"

.3 "

6.236

6.302

. 41

.3"2

6.0!"

.0"0

.230

.624

6.104

.02

6.14

6.22%

(ACTOR ANALYSIS
The table above clubs the data into : consolidated +actors 5+rom '):6 but we are still not known as to what all +actors +orm the +actor ' and hence +orth* to evaluate the composition and nomenclature o+ each o+ this : new +actors we have do the communality calculation with the help o+ 7igen values and ; s0uare calculation- The results o+ the corresponding calculation yield the composition o+ each o+ the : +actors* which are discussed below$ (a!&'% +$ !lumni* Library* In+rastructure* Reputation o+ Faculty* Student Faculty Ratio (a!&'% ,$ "ourse "urriculum* 2lacements* Maga.ine Surveys (a!&'% -$ Industry Inter+ace* Location(a!&'% .$ ;ostel Facilities (a!&'% /$ 2eers and +riends* e#tracurricular activities(a!&'% 0$ ,rand <ame

Thus we can see that most o+ the +actors are a combination o+ more than one +actors and can be named as a new +actor in itsel+* the names o+ these new +actors and their contribution towards the objective o+ the study are as +ollows$

Factor

Percenta&e 'ontri(ution

1.Academic Environmen t (Value Addition) !#.23)

2.Placement 3.Industry 4. ostel !.E"tracurricular #.$rand Records Interface Facilities Activities %ame 33.**) 21.#+4) 1,.!-) +.,*1) 12.+2)

CONCLUSION
!s per the analysis o+ the survey conducted on the respondents +actors related to the =!cademic 7nvironment8 were +ound to be the most popular and critical +or improving the satis+action levels o+ a ,)SchoolInterestingly* =2lacement Records8 was not the +irst choice but it was the second most important +actor in the criterion- "oming very close to this +actor was the =Industry Inter+ace8 in the +orm o+ the guest lectures o+ "7Os o+ various companies and industry visits- !lso respondents didn8t give much importance to +actors like residential +acility and e#tra curricular activities- 7ven the =,rand <ame8 o+ the ,) School was not much called +or when it came to satis+action levels!lso most o+ people considered ="ase Study ,ased8 teaching methodology more suitable +or teaching in M,! schools as compared to the conventional blackboard teaching or power point based teaching styles-

APPENDI1 A RESEARCH 2UESTIONNAIRE


'- ,rand name/Reputation plays the most important role while opting +or a ,)Schoola- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 2. Strong !lumni base is a +actor which increases the motivation levels while pursuing an M,! programa- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 3. 2eers/Friends/"olleagues in+luence your views about a particular M,! "oursea- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 4. !n e#haustive and a good Library is an inevitable +actor to be considered while choosing +or a good ,)Schoola- Strongly !gree

b- !gree c- "an8t Say d- isagree e- Strongly isagree 5. >ood in+rastructure +acilities attracts you towards a particular ,) Schoola- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 6. o you current curriculum +ollowed in the Indian ,)Schools prepares you to +ace the corporate world? a- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 7. Residential education raises the satis+action levels o+ an M,! 2rograma- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 8. Reputations o+ the +aculty also motivates you while pursuing an M,! 2rograma- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 9. !n M,! 2rogram is incomplete without proper industry inter+ace5guest lecturers +rom the industry* "7O series etc6 a- Strongly !gree b- !gree c- "an8t Say

d- isagree e- Strongly isagree 10. >ood Student Faculty ratio also determines the 0uality o+ an M,! 2rograma- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 11. >etting a good 2lacement is the most important +actor +or pursuing an M,! 2rograma- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 12. 7#tracurricular activities also play a crucial role +or the value addition during an M,! "oursea- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 13. Location o+ the college is the deciding +actor while considering two ,)Schools o+ the same reputation levelsa- Strongly !gree b- !gree c- "an8t Say d- isagree e- Strongly isagree 14. Surveys conducted by di++erent maga.ines like Outlook* India Today* ,usiness &orld gives a complete picture and in+luences your decision while choosing a ,)Schoola- Strongly !gree b- !gree

c- "an8t Say d- isagree e- Strongly isagree 15. &hich teaching methodology complements a good M,! 2rogram the best? abcd"onventional ,lackboard method 22T ,ased "ase Study ,ased Sel+ Study Oriented

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