March 8, 2022
MBA Specialization: Choosing the right field!
MBA stands for Masters in Business Administration, is one of the most sought-after courses in India. It equips the student with all the knowledge and skills he needs in a professional environment. It develops qualities such as leadership, management, decision making, etc. These are very useful in building a successful career.
We live in the age of commerce. Economic activities have been flourishing in the past decade. In a boom like this, it is important for a professional to keep up in terms of skills and efforts. An MBA is a way to equip yourself with the necessary professional and technical tools in order to excel in this world.
The Importance of an MBA in Today’s Economy
With the Indian economy moving towards privatization, business and commerce will become even more dynamic with the introduction of private players. An MBA from a good University provides a seamless entry into the job market. It ensures that the candidate finds a job suitable for him. One that fulfills his financial and professional requirements.
We have seen a good amount of economic development since the 90s. Employees are valued as human beings and assets to the company. Job satisfaction has become an important factor in an individual’s occupation. An MBA is generally regarded as a degree that grants you the freedom to choose a good job that optimizes job satisfaction.
Aside from all this, an MBA does not have any specific prerequisites. A student from any educational background can apply to get an MBA. This gives a wide scope of opportunities to students. Indian students choose to opt for MBA at various stages in their careers. This is the reason MBA is so popular in India. It is flexible and at the same time, the pay-off is high because it holds a lot of power in the industry.
MBA Specializations: Your Chance to Stand Out
A specialization is an opportunity to gain expertise in a particular field that is offered by the university. Specialization offers in depth knowledge in that particular subject. It is usually about a particular area of a wider subject. Let us consider the example of the media.
Media is an umbrella term used for many professions. But specializing in journalism would mean that the focus is on this particular area of media. Narrowing the scope of something gives us more opportunity to focus on it more intensely. Hence, specializations help us study the subject better and acquire a large amount of knowledge about it. They give us credibility and make us a reliable professional. For example, a dermatologist giving advice about a skin problem is a lot more credible than a general doctor giving it.
Hence, specializations are important determinants of how your career will be. It is an important decision that should be taken with great thought and consideration. Following are some of the different types of MBA that are offered by the top colleges in India:
1. MBA in Finance
MBA in Finance or MBA Finance management is a course that develops financial knowledge in the sector of business and corporations. This includes investment planning, mergers and acquisition, financial analysis, etc. This is a good course for students who are interested in the field of finance. Because it is the application of the same theories and principles in the business world.
It makes the employee skilled in applied knowledge in the corporate world, making them a valuable candidate for any well-paying finance job. If you have a keen interest in finance and think you have good analytical and cognitive skills, this specialization is good for you. An MBA Specilization in Finance has a lot of potential in our country.
As a developing country, there are many economic elements that need to be dealt with by firms. Compared to this, there is very little financial knowledge. Hence, MBA finance creates well-rounded professionals that have good demand in the job market.
2. MBA Marketing
Another popular type of MBA Specialization is Marketing or marketing management. It is considered as a fairly interesting field with a wide scope. This is because markets are a fundamental function of business administration.
Good work done by good marketing professionals can make the company a lot of profit. Hence marketing graduates are in high demand by big companies. MBA marketing equips the student with knowledge about consumer and market behavior, behavioral economics, sales and promotion, etc. This is a good program for people who have good logical and analytical thinking. It is quite popular in India
3. MBA in HR
HR stands for Human Resources. Human resource management relies on the functions of employees in a company. Since employees are an important aspect of business administration, HR management is important. However, it is relatively less dynamic because it is more procedural in nature. It still has high demand in the industry because HRM is a function that is tricky and difficult to resolve. If you have an interest in the human function of business, or have good problem solving and conflict resolution skills, HRM is a good MBA specialization.
4. MBA in Business Analysis.
Analytics professionals have a high demand in the job market. Business analysts become key in business optimization. Their skills and services are very valuable in the industry. Most top universities offer MBA in Business analysis with good job opportunities. It is a good specialization for people with good analytical and critical thinking.
5. An niche MBA Specialization
There are many MBAs which provide management and administration skills to professionals working in other fields. For example MBA in Agriculture management. MBA in Healthcare management, etc. This kind of MBA provides a good professional edge to optimize their functions in their respective fields.
These specializations are offered in most top MBA universities in India. IIM Ahmedabad, IIM Indore, IIM Calcutta, Xavier University, NMIMS, Symbiosis, MDI,etc are some notable universities in India that offer a varied amount of specializations.
There are even more specializations that are offered by universities like these. They can usually be found on university websites. Mainly IIMs are the top colleges in India when it comes to the management school of study.
Choosing the Right Specialization
Choosing your MBA specialization can be very confusing. Many professional outcomes depend on the specialization that is picked by the student. It is important to calmly measure out the parameters of the profession you want. They can be
- What subjects are you interested in?
- Which subjects have a good scope?
- Which universities offer these specializations?
- Which industry are you trying to enter after graduation?
- What are your skills and aptitude?
- What are your career objectives?
You can always try to get some work experience after graduation. It might help you figure out the answer to these questions. Dheya offers useful tools that will help you through this decision. From the right field after 10th to picking the right MBA Specialization, we offer comprehensive and personalized methods to help you choose the best career path for you!
[…] In conclusion, earning a professional business degree, or an MBA can have a number of both expected and unexpected benefits in our life. In fact, those benefits often extend beyond our career and professional goals and are applicable to our non-work life as well. You can also pursue a specialization in your MBA, read more about that here. […]