When a student decides to enhance their career by doing an MBA, the next big question which comes to their mind is in what stream or specialization should he/she opt MBA for? There is huge scope in almost every field of MBA Specializations, be it human resource management, finance or marketing management, that makes the decision to be tougher.
On one aspect one has to consider a specialization according to the salary prospect, while on the other hand, one also has to consider the scope of jobs in a particular domain before pursuing the specialization. This article focuses on top 10 MBA specializations that are offered to the students by various institutes across the globe.
1. MBA in Finance
MBA in finance is ranked amongst the most sought-out and popular MBA specializations. It introduces and prepares students in various subjects like Budgeting, Costing, Capital Management, International finance etc. After studying these subjects students become experts in Financial Management domain. Such expertise helps them to work in the finance department of any organization.
The Banking Sector of India is an added boon to the MBA in finance pursuers as it has requirement of skilled people who are expert in finance. Not only the banking sector, but various other financial sectors such as Mutual Funds Industry, Insurance Industry, Stock Exchange, and Financial Consulting are other bright avenues for the MBA in finance graduates.
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2. MBA in Marketing
MBA aspirants can look forward to a very dynamic and career competitive while opting for MBA in Marketing. MBA in marketing helps a student to understand market behaviour, aspects of advertising, consumer behaviour and many other important skills that are required for the marketing activities of any service/product.
Prerequisites for MBA in marketing include resource mobilization skills, excellent communication skills, and an added enthusiasm to excel in the field. As a career choice, MBA in Marketing offers very lucrative opportunities to its pursuers. Marketing specialization improves skills of the individual like identifying the strengths and weakness of a business, so as to take advantage of the opportunities and secure the business from the potential threats posed by uncontrollable variables.
3. MBA in Human Resource Management (HRM)
MBA in HR Management is a great specialization for those individuals who are determined to become a part of Human Resource functions and strategies. MBA in HR deals with probing in the psychology of employees and helping them grow in the organization.
The HR responsibilities include mergers and acquisitions, workforce diversity management, managing supply and demand of labour markets in emerging economies and international leadership. MBA in HR requires a person to possess a charismatic personality, good communication skills, reliability, and confidence. MBA in HR also requires and offers individuals to handle operations such as Retention Management, Talent Management, Recruitment, Reward Management etc.
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4. MBA in International Business (IB)
MBA in International Business specialization course aims to provide a detailed understanding of the organizational capabilities that required for international operations so as to cope up with the advancing globalization and gradual opening up of world economies. It aims to impart skills pertaining to specialized operations such as finance, international marketing etc.
Admission to pursue this course requires an undergraduate degree in any discipline. In addition to the academic benefits, MBA in International Business also increases the chances to travel around the world to sharpen a cross-cultural perspective.
5. MBA in Operation Management
MBA in Operation Management helps aspirants to deal with Shop Floor Management or Production Management related operations. Students learn to develop vendor and inter-departmental relationships, maintain process flows etc. Candidates with technical backgrounds tend to go for this specialization, i.e. MBA in Operation Management because it gives them an upper hand over other candidates in process optimization and product development and designing.
6. MBA in Information Technology (IT)
MBA in IT is a specialization which is designed to develop managers who can effectively manage the design, planning, selection, implementation, usage & administration of converging and emerging communications and information technologies. MBA in IT, an important and integral part of the Indian Economy as our economy is a Service-oriented market and Information Technology holds a special place in this market.
MBA in Information Technology graduates play an important role in designing and implementing software and hardware solutions to solve business problems. This specialization sharpens the skills of the individual that are required to manage real-problems in an organization with the help of rigorous training and Case-studies.
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7. MBA in Supply Chain Management
MBA in supply chain management is a unique specialization field which comes under the belt of business management. Supply chain Management specialization can be pursued by graduate students of any stream with a degree from a recognized college. The supply chain Management includes warehousing, inventory management, and transportation of various materials required by the company or a client.
8. MBA in Rural Management
There is immense growth potential in rural markets and the organizations know that to overhaul the face of Indian Economy, rural management is an important sector to focus upon. Therefore, MBA with specialization in Rural Management is a very exciting and upward-growing programme. An MBA in Rural Management fulfils the huge industrial demands of managers with skills such as marketing in the field of rural business.
There are wide varieties of career prospects for individuals after attaining the MBA in Rural Management, which includes government jobs, association with Non-Government Organizations, research institutes, United Nations etc. To go for an MBA in Rural Management, a candidate needs to have an altruistic perspective, willingness to improve the poverty in India, Innovative approach and, Ideas for uplifting the rural face of India.
9. MBA in Agri-Business Management
Agricultural Business is a vital and important part of Indian economy. MBA in Agri-Business provides a chance for the aspirants to enhance the face of Agri-business in India. In this specialization, the candidate learns to manage companies which market, process, and merchandise agricultural products for consumers. The student gets to learn the management, marketing, and finance operations with a focus on specialized requirements of the agribusiness sector. An MBA in Agri-Business Management students gets to study dynamic subjects like Agri Input Industry, Horticulture Industry, Food Industry, Farm Engineering and Livestock Industry
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10. MBA in Healthcare Management
An MBA with specialization in healthcare management focuses on the specific issues of the hospital and its administration. It covers core business practices and skills regarding the Healthcare Industry. This programme provides the individual brighter prospects to interact with the medical practice managers, insurance-company executives, hospital administrators, and a wide variety of other roles.
After pursuing MBA in Healthcare management, an individual is responsible for supervisory operations in the Hospital premises.
Here you got the different MBA Specializations in which you can seek your career and achieve your goal. Please post your comments or queries on our Aftergraduation Forum or in below comment box.
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