Hi
Well there is no secret formula as such that can get u an MBA, but I will tell you what I know. What qualifies me to write this is the fact that I have been doing nothing but eat sleep and dream MBA for the past year.(I am in my final year BE).
This has been written based on the assumption that you are trying for an Indian MBA
Stages
Set your target.Decide the set of colleges you want to try for.
Dont miss a date.Get the dates of issue of applications and the date of the exams thus ensuring you dont miss any date in the hurry.
Choose a centre. I will personally suggest IMS or TIME. Both are Equally good. But I am going to IMS.
Practice Makes Perfect.Work your head off practicing Maths. But dont forget English.3 hours a day should do it.
Be Alive Dont forget to read the Newspapers and all the important magazines like BW, BT and ET
Well that should help you.
If you want any info on rankings and stuff web is the best source of all.
GOOD LUCK.