The MBA (Masters of Business Administration) is a professional degree, for which the eligibility criteria includes firstly holding an undergraduate degree of three years or more from a recognized University or College. Secondly, the student may or may not be required to hold a work experience of one or more years depending on the University applied. You can find top Business schools all over the world, offering various MBA programs that are as follows:
– Full-time MBA Program
– Part-time MBA Program
– Executive MBA Program
– Distance learning program with various specializations
An MBA degree is a highly valued degree that helps to develop the necessary skills for Business and Management. It helps an individual to learn to lead and to manage a Business. The practical skills along with the theoretical knowledge equip the MBA graduate with the ability to run a business smoothly and recognize the various opportunities that come along the way to enhance his/her business.
Most of the MBA programs are two-year programs. In the first year of the program, you will study the core subjects that will help build a foundation of the basic management concepts. In the second and last year of your MBA, you will be choosing the area in which your aim to specialize. One should choose their specialization after doing proper research on the prospects of the particular field that they want to go in. Some of the factors that should be kept in mind while choosing your subject of specialization are:
– One should figure out their priority first, regarding the course and choose their first, second and third preferences as well
– One should research about Job availability in each particular field of specialization
– Find out your areas of interest
– Estimate your Salary package
The list of MBA Specializations is as follows:
MBA in Marketing:
The marketing department of a company is responsible for generating more revenue, expanding the market share of the company’s goods or services. The course curriculum may include topics such as B2B marketing, Advertising, Managing a digital business, Creation of new products or services, Pricing, Retail Marketing, International Marketing, Laws of Marketing, Market Research, Brand Management, etc.
MBA in Finance, Accounting, and Economics
A degree in Finance will provide you with the required insights on the Financial theories and equip you with the skills to tackle the financial problems of the business. The course curriculum may include topics such as Investments and Hedge Funds, Portfolio Management, Investment Banking, Indian Accounting Standards, Equity & Venture Capital, Expenditure Planning, etc.
MBA in Human Resources Management
Human Resource Management specialization will train a person to manage and train the employees of a company professionally. The course curriculum may include topics such as Ethics and Moral values, HR management in the service sector, Psychology behind human resource management, etc.
MBA in Operations & Supply Chain
This specialization will provide the knowledge of efficient management of the Manufacturing processes and other work. The course curriculum may include topics such as Supply Chain Management, Logistics, New Technologies in Supply chain management systems, strategies of Operations, Performance Management, Cost and Profit management, etc.
MBA in Entrepreneurship
This specialization will develop your skills in setting up your own business and managing it with the limited resources that are present. The course curriculum may include topics such as Innovation, Networking, Venture planning, Social Entrepreneurship, Financing for a startup, Sales and Marketing for Entrepreneurs, etc.
MBA in Information Systems
There is a growing demand for IT professionals who have technical and business expertise. MBA in Information Systems helps in equipping a person with these skills. The course curriculum may include topics such as Data Mining and Business Intelligence, Information Security, User Generated Content Analytics, IT Business, e-Supply Chain Management, Cyberlaw, E-Governance, systems analysis, etc.
MBA in International Business
This specialization aims to provide a knowledge of International business operations such as international marketing etc. The course curriculum may include topics such as Export and Import Management, Foreign Exchange Management, International Finance, International Marketing, International Logistics, etc.
MBA in Organizational Behaviour
This specialization is based on workplace structure and how it can be improved such as factors like office environment or team building. The course curriculum may include topics such as Corporate Policies, Effective Leadership, Relationship Management, management of stress, Behavioral Strategy, etc.
Fortunately, the courses are not just limited to the above-listed specializations. There are various other specializations such as MBA in Consulting, MBA in Communication, MBA in Business Policy, MBA in Production, MBA in Health Care Management, MBA in Agri. business management, MBA in Rural Management, MBA in Strategy, MBA in Event Management and various others.
Some of the Common job profiles that MBA prepares a student for include:
- A business analyst or strategist
- Business development analyst, or manager
- Director (of a department)
- Entrepreneur or founder
- Financial analyst, or manager
- Management consultant
- Marketing associate, or manager
- Portfolio manager
- Project analyst or strategist
- product analyst, associate, or manager
- program analyst, associate, or manager
- Operations analyst, associate, or manager
India has more than 3200 colleges that offer MBA courses with a wide range of choice of specializations. Some of the top universities conduct entrance examinations such as CAT, XAT, IIFT, SNAP, NMAT OR MAH CET, among many others. Some of the top MBA colleges in India are:
– Faculty of Management Studies (FMS), New Delhi
– Indian Institute of Foreign Trade (IIFT), New Delhi
– Indian Institute of Management, Ahmedabad (IIMA)
– IBS Business School, Hyderabad
– Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
– Symbiosis Centre for Management, Pune
Before choosing the choice of specialization, one should research thoroughly about each option to make the right choice.