MBA stands for Master of Business Administration. For more than two decades, MBA has been considered the most chosen post-graduation programme among youth who consider the management field a career. It gives a student the basic management knowledge to get a holistic view of businesses across various sectors of marketing, finance, and accounting. In this course, students are given managerial training to be aware of different issues and shortcomings they might face in a venture and plan according to and around it, all while gaining optimum leadership qualities.
It cannot be pinpointed who and what kind of a person could become an MBA student. MBA attracts a wide variety of talents and professions who have a common goal of boosting their management, leadership and entrepreneurial skills or simply advancing their academics for better career prospects.
Different Specialisations of MBA
MBA in Marketing is a popular 2-year MBA specialisation which teaches students interested in the different market strategies, advertising and branding involved at different levels of marketing and how to manage resources used in marketing. One will also be exposed to different skill sets to be applied across marketing and sales roles at B2C and B2B companies. Companies are always on the lookout for Marketers, especially those brands that are just starting, as marketing is key for sales.
2) Human Resource
Hiring and training employees for the required job role at an organisation always comes first and foremost. And there is exactly one specialisation in MBA course which teaches an individual to help companies do this task. The scene of hiring people for employment has shifted drastically in recent times after the pandemic. Hiring people requires newer strategies now. Thus, companies take fresh HR Management graduates to adjust to this shift. The course trains a student on the skills of workforce management, strategies, work assessment, etc.
Being one of the most popular and the most paying MBA specialisations, it teaches a student how to be financially resourceful and get skilled in proper accounting for companies. Financial control is essential for a company’s growth. Thus, fresh Finance MBA graduates are picked up by many companies for the same, making it have constant growth. A few of the job prospects for an MBA in Finance graduate lay in the financial institutions, banking, corporate finance, merchant banking & international finance sectors.
4) Information Technology (Business Analytics)
Big data is in constant growth, and so is the demand for specialists who can understand and dissect that data. With the growth in digital content, people now require Business Analysts and specialised MBA graduates who can bridge the gap between business operations and technology. The job of a business analyst is to provide organisations and companies they are hired with proper data-driven insights and recommendations for changes in their operations which will induce growth in business and sales. The course and its subjects provide a student with a deep understanding of computers, computer science and data and statistics in a business modelled way. All these qualities make it important for a company to have Business Analysts for faster company growth.
5) Operations Management
An MBA specialisation in Operations basically teaches a student how to run any functioning of a company smoothly. One learns about the various strategies involved in managing and organising companies for the best possible outcomes. A few of the core focuses in this specialisation’s curriculum include supply chain management, business forecasting, project supervising and economics. Operations graduates are, in a way, all-rounders in the field of management as it is considered to be the foundation of the course.
6) Aviation Management
MBA in Aviation Management is a two-year postgraduate course that, as the name suggests, deals with the management studies of different areas in the aviation industry. This includes everything from operations management to resource as well as expense management. Airlines need the maximum possible hands in order for the smooth functioning of the flight as well as to ensure the safety of the passengers. Thus, Aviation Management MBA students are required for proper planning and carrying out different aspects undertaken pre, during, and post flights.
7) Health-Care and Hospital Management
With India’s growing Healthcare infrastructure, hospitals and clinics are in dire need of Management executives for the smooth flowing of operations within the establishment. This is where Healthcare and Hospital Management MBA specialisation comes in. Healthcare Management focuses on the management of a clinic, hospital and other healthcare facilities. They are even responsible for the budget-related undertakings of the facility. The specialisation requires a thorough understanding of the depth of the Healthcare industry. The MBA course provides one with the same.
How to Choose a Specialisation?
As mentioned above, there exists a specialisation for every individual, no matter their background, talent, skill or vision. But the same fact may confuse one as to which specialisation exactly to choose and chase in order to best benefit their future career or business. Every single one of these specialisations has its benefits and depth. It all depends on your interests and skill set and what you are planning to make your career in the future. Keeping one’s future, i.e., where you want to be in your life 5-10 years from now, is important. MBA course, in general, presents you with real-life experiences, putting you in situations which go in-depth into the specialisation of your choice. Enrol now on an MBA course to become a future leader and give back to society.
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