These days, having one degree is not sufficient. Hence, many people are pursuing their studies even after their respective graduation course. MBA is one of the degrees many prefer. It has got various specializations, and one may choose their courses based on their interests, market demand, preferred job packages, and availability. Here is a list of specializations in MBA to help you choose better.
The marketing department in any organization plays a very important role as this is one of the most effective ways to get customers, grow the business, increase revenue, market share, and so on. This department directly influences the profitability and the growth of the company. Students who opt for this specialization will get insights into various important areas required for every organization or corporation. Some of these include market research and analysis, consumer behavior, competitive analysis, customer analysis, brand management, business ethics, product management, advertising, digital marketing, and e-commerce.
Specialization in Human Resources helps you understand how to manage, acquire, and retain the workforce within the company in an organized and systematic manner. The primary tasks in this job profile include recruitment of employees, selection, training, development, assessments, promotions, compensation, health, safety and so on. Further, the responsibility also involved managing relationships and other issues that may arise among employees in the organization and ensure the well-functioning of the organization.
One of the main reasons many choose this course it the high pay packages. Students graduate from this course from the best MBA college. You will mostly be working in investment banking, hedge funds or private equity, credit risk management, asset management firms, portfolio management, hedge fund management or derivatives.
With the increasing use and incorporation of technology in almost every field, the need for it is arising proportionately. Specialization in Information Systems will help you to manage e-commerce efficiently, learn about the emerging technologies in the field, and so on. The areas that may be covered are systems analysis, data analytics, network security, supply chain management, e-business along with managerial decision-making and project management.
Consulting is another interesting field and a very high-paying one as well. These high profile jobs give an opportunity for the person to travel places. Consultants are hired when an organization needs an opinion and expertise to come up with solutions for a specific problem or challenges faced by the company or to look after projects that cannot be handled internally. There are various areas related to the consulting profession some of which include the more popular ones like strategy consulting, operations consulting, IT/technology consulting, a boutique consulting to the lesser known areas like HR, public relations/media, investments, education or advertising.
Entrepreneurs are faced with many challenges while building a business model with limited available resources. Real-world projects are worked on so that the students get an idea of the possible struggles and be able to overcome them. They will be able to use their analytical skills to assess the market in order to create a business plan. Students graduating from the best engineering colleges have a lot of start-up ideas and choose this field to establish them.
The knowledge of operations management would give you the expertise required to efficiently manage the whole system related to manufacturing or services in a way that the organization is a step above the others. The fresh perspectives and the analytical skills brought in by the MBA graduates can help address the several issues faced towards managing the entire process which includes product design, supply chain management, manufacturing, quality control, coordination between various teams including decisions like outsourcing.