A degree in business management guarantees a candidate a plethora of opportunities. It is the proverbial door opener for opportunities. Now, once a student decides to pursue an MBA programme, he or she is faced with three questions –
How many MBA specializations are offered by institutes? The popular MBA specializations are Marketing, Operations, HR etc. But, are these the only specializations that students have?
Marketing, HR and Finance are the staple of any MBA programme and students have to study these in the first year. However, businesses, depending on its niche, have several complex tasks and MBA institutes have specialized courses that caters to such businesses. These specializations help a student better understand the business needs based on their interests.
List of MBA Specializations
An MBA in Finance is one of the most sought-after specialization as it opens the doors to the lucrative finance sector. The curriculum of MBA in Finance includes banking, national and international finance, money market, accounting and more.
Another age old specialization, an MBA in Marketing is a popular choice for students and professionals alike. The curriculum includes marketing management, forecasting, modelling, and marketing strategy, consumer and brand insight strategy etc.
An MBA in operations arms students with the skills needed to run any business. The role of an operations manager includes planning, executing, monitoring and measuring the processes in a business.
Considering the technology driven world that we are living in, the need for information technology managers is on the rise. The curriculum includes Database Management and Administration, quantitative techniques for decision making etc. The job profiles of IT MBAs include system manager, data processing manager and project manager.
Businesses nowadays have operations spread across countries and continents. International Leadership MBA programme helps a student understand the dynamics of operating a business in different countries. Managing a business in different countries is not the same as managing a business in one country. Business decisions need to be made respecting cultural values and the laws of the land.
This specialization is designed for candidates with an aspiration to start their own business after an MBA. However, many startups are also hiring MBAs in Entrepreneurship to drive its growth.
Corporate Social Responsibility
The current crisis has caused the popularity of this specialization to rise. CSR is no longer a moral responsibility for businesses, but essential for branding, for tie-ups and for meeting government norms. An MBA in Corporate Social Responsibility gives a student comprehensive knowledge about the nature and structure of different organizations.
Besides these MBA specializations, students also have the options of – MBA in Tourism and Hospitality, MBA in Family Business, MBA in Power and Energy, MBA in Event Management, MBA in Real Estate, MBA in Aviation, and MBA in Criminal Justice.
But, how should a student choose a specialization? Students need to analyze their interests and career goal with the specialization offered by the institute. They should also check out the pedagogy of the specialization, and the eminence and infrastructure of the institute. Finally, the industry requirement, career scope and payment after MBA should be reckoned.
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