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I am an engineering graduate and have a work experience in the software industry primarily in the finanace domain for 3 years... I think it is the right time for me to take a plunge and do my MBA.. I am planning to apply for the next fall but I havent given my exams as yet neither have started studing completely.. I need some guidance in how I can go about preparing and can i make it for the next fall in 2007...
Did you want to apply in 2007, or start school in 2007? If you want to start school in 2007, that means you will need to apply this year. Some schools have final round application deadlines in the spring, but admissions during these rounds is notoriously difficult. Second round deadlines are generally in early January, which means you must prepare for and take the GMAT, and also finish your applications in about 3-3.5 months.
If you haven't yet started studying for the GMAT, you have quite a task ahead of you. You didn't say what types of schools you are planning to apply to, or how far you are from your target GMAT score. You'll need to provide this info if you'd like realistic recommendations.