10 Jul 2020
Masters in Business Administration or MBA owns a coveted place among higher education. Institutions providing MBA programs instill in their students the skills and attitude required to take on managerial and leader positions. While the MBA course is intended to build a strong base of managerial knowledge across the foundation domains, the program progressively moves into preparing students for a clear focus on career choice. The focus is manifested through MBA specializations. That is why choosing the right one out of the available MBA specializations is important. Nowadays, some colleges also provide dual MBA specialization with very good prospects for the students.
The evergreen popular MBA specializations still remain: Marketing, Finance, Human Resources, International Business, and Information Technology — the dynamic nature of industries keeps bringing out new and niche MBA programs. Ultimately, it's about aligning one's skills and interests with market demands.
Different specializations are enough for MBA now, tailored to meet industry requirements or the career aspirations of an individual. In the list below, the most trending and upcoming specializations in MBA are discussed, which you can think of having as an experience.
It is believed (rather perceived), that marketing professionals are outgoing, extrovert people who make friends easily. However, with the advent of digital media, content marketing, and the era of consumerism, back-office roles for brand management have increased. MBA Marketing graduates are welcomed for roles in which market knowledge is to be built and applied for marketing strategy.
It is only what a finance professional counts as the bottom line of the company! And given the fintech boom, the operations of modern financial markets are configured very differently. Managers are in demand for those modern financial services, such as commodities, electronic payments, and others. Behavioural finance-an application of behaviour and biases to financial decisions-is gaining traction. This brings up the interdisciplinary aspect of finance.
An organization is as good only as its people- that is why we talk about human capital and talent management and not manpower and personnel! Better ways to manage people, so as to make them feel good about their organization and their job is a responsibility of a human resource professional. Programs and schemes to cater to inclusion, support and to boost efficiency- are the key requirements. An MBA graduate may start with a very basic payroll job to an area that deals with human resource management- at recruiting- through personal success.
As we begin to face digital transformation-the world and all businesses in its wake- technology application to work has become a rudimentary requirement. But; the application is only by people with the expert knowledge as to how they are trained in handling technology, and changes that it brings with it, and here is where MBAs specialized in information technology fit in. They not only manage systems, they also manage these systems around the needs of the stakeholder.
The application of technology towards tactical business decisions is earmarked by business analytics, equipping graduates with the means to do the how and a bit more for purposes of unraveling huge amounts of information for meaningful analysis with respect to businesses and their operations. This data is the new oil' for businesses and gives a strategic edge.
For those willing to define their own approach, follow their hearts, and charter their course, entrepreneurship is the ticket! The MBA program provides opportunities for learning and working with startups so that a student may follow an idea on a guided journey to product commercialization.
Organizing MBA programs and managing events offer opportunities to those who want to pursue an MBA in Events and Media. The program helps learners understand the art of event management and prepare well-trained, knowledgeable event professionals and entrepreneurs.
Pursuing an MBA with International Business Specialization hastens the degree holder's promotion into the echelons of executive leadership and sets them ready to face a global economy's business sceneries. The said program sharpens students' skills in managing strategic thinking, besides relying on the conduct of businesses at the ends of the earth.
Specializing in Operations Management allows students to interact with the personalities across genres, i.e. researchers, engineers, marketing professionals among others. Students are also prepared to take up challenges in logistics, supply chain management and supply chain design.
Socialization Aviation Management gives students a taste of career opportunities provided by Aviation, Logistics, Hospitality, and Travel. Demand in India, the third largest Aviation market, exists for professionals with excellent management and decision-making skills. A degree in Aviation Management gives students a professional edge over the rest.
No doubt about the fact that it's up to the healthcare industry in leaps and bounds; courses like MBA in Healthcare Management groom the students for this budding industry and make them business-savvy with added knowledge of the industry from different verticals.
MBA in Banking and Insurance Management empowers a student with critical thinking and analytical skills while providing opportunities for interaction with banking-industry experts.
It is a rising issue of concern for India also like other countries. Obviously, in this regard, the scope of waste management is increasing in the country and one needs specialized professionals for appropriate management of various forms of waste.
This program prepares undergraduate believers to acquire knowledge and sets a stage for them to learn such skills which help it bring in all students to corporate and business environments: finance, marketing, network administration, hardware and software systems, leadership, management, human resources, among various students. The organization during this time, Bureau of Labor Statistics, states the median earnings for a computer and information systems manager to be $139,220 during 2017 and expects an employment increase of around 12% between 2016 and 2026.
Each student will benefit from one or the other of the options above, as they specifically offer an MBA graduate, or an emergent manager, a salient set of skills that are applicable across various industries. Each one has to take the approach in the field which lies into one's choice and interest.
Some popular combinations include:
Also Read :- Benefits of MBA Dual Specialization Programme
All of the options above provide an MBA graduate or prospective manager with a different suite of critical skills that can be applied across industries. Achieving success means pursuing an area of specialization that matches your career aspirations, personal interests, and real market viability.
The best MBA specialization combination depends on your career goals. Popular and effective combinations include Marketing and Finance, HR and Operations, or IT and Analytics. These pairs balance strategic thinking with practical skills, helping you adapt to various roles in business and management.
In the future, MBA specializations like Business Analytics, Artificial Intelligence, Digital Marketing, and Healthcare Management are expected to grow fast. These areas match current trends like tech advancement and data-driven decisions, making them great options for long-term career success.
Some of the most popular MBA specializations are Finance, Marketing, Human Resources, Operations, and Information Technology. These specializations offer strong job opportunities, cover essential business functions, and suit a wide range of industries and roles in the corporate world.
MBA specializations in Finance, Business Analytics, and IT Management often lead to the highest salaries. Roles like Investment Banker, Data Analyst, or IT Manager typically pay well due to high demand and the need for expert skills in these fields.