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Hi Ranjith,
Yes a person with a clever mind but not so good on memorizing front can complete MBA from an elite B school without repetition. The reason for this being most of the elite B schools work on case study based formats so, all you have to do is understand the concepts well and apply it to a case study provided. Moreover in field of Finance the questions are application and logic based for which you don't have to memorize much. Similarly in Marketing and Strategy, it is mostly case driven. Talking about Analytics, you just need to understand the concept as how different tools will be used and how to derive value out of results and with hands on experience on tool you are good to go. So, in short, a person with a clever mind but weak memorizing skill can pass MBA with flying colors.
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