PGDM means post graduate diploma in managemant which is a diploma. A postgraduate diploma (PGDip, PgDip, PG Dip., PGD, PgD, PDE) is a postgraduate qualification awarded typically after an university degree. It can be contrasted with a graduate diploma. Countries that award postgraduate diplomas include Australia, Bangladesh, Barbados, Belgium, Brazil, Canada, Chile, Germany, Jamaica the United Kingdom, Spain, South Africa, India, Ireland, Nigeria, the Netherlands, New Zealand, the Philippines, Portugal, Russia, Sri Lanka, Pakistan, Poland, Singapore, Saudi Arabia, and Trinidad and Tobago.
IIMs are registered as societies under the Indian Societies Registration Act. Each IIM is autonomous and exercises independent control over its day-to-day operations. However, the administration of all IIMs and the overall strategy of IIMs is overseen by the IIM council. The IIM Council is headed by India’s Minister of Human Resource Development and consists of the chairpersons and directors of all IIMs and senior officials from the Ministry of Human Resource Development of the Government of India. Business schools are colleges or institutes, which are conducting courses on business administration and management. These are either autonomous or would have affiliated to a university.
The prominence of a business school is purely based on the quality of education, faculty, campus placement facility etc. The top business schools in the country such as IIMs and ISB are always making headlines with campus placement and salary offers. This clearly shows that importance of excellence in education and faculty of business schools.
The two-year Post Graduate Programme in Management (PGP), offering the Post Graduate Diploma in Management (PGDM), is the flagship programme across all IIMs. These post graduate diploma programmes are considered equivalent to regular MBA programmes. Some IIMs also offer a one-year Post Graduate diploma Programme for graduates with more work experience. Some IIMs offer the Fellow Programme in Management (FPM), a doctoral programme. The Fellowship is considered to be equivalent to PhD globally. Most IIMs also offer short-term executive education/EMBA courses and part-time programmes.