MBA stands for Master of Business Administration, and it is one of the very popular post-graduate course that is offered in India and as well as abroad. This program is completed in two years and is a gateway to plenty of job opportunities in the corporate business world.
Master of Business Administration (MBA) is a prestigious degree program that is highly valued by top most employers in the industry. Here we are going to tell you some important facts about the MBA Courses before you choose it as a career option:
- MBA is such a popular program because students from any background can pursue it, which includes Science, Commerce, and Humanities – all that you can think of.
- Usually, you’ll see that a regular MBA or any other Post-Graduation Diploma in Management (PGDM) is a two-year course that is more likely to be divided into six to four semesters. But, numerous private institutes provide the students with one-year PGDM courses also.
- Students can obtain an MBA degree in various modes like Regular, Online, and Distance-Education as well. Interested students can also look for programs personalized based on their professional experience, such as Executive MBA.
- Many management institutes offer PGD (Post-Graduate Diploma ) and PGP (Post-Graduate Programme) in Management as a substitute for an MBA degree. There is not a very major difference between these two, except for their titles. Students must be aware of what is the difference between MBA and PGDM.
- The full-time MBA degree is the most known and valuable among all, which complies with the theory classes, practical projects, and internships, etc.
- Freshmen, as well as students with a few years of work experience, can choose for a full-time MBA degree program. While some colleges would rather have fresh graduates and there are other colleges which give more preference to candidates with a few years of working experience
- In different circumstances, the Executive MBA degree is fit for students with more than 5 -10 years of working experience as it is designed to enhance their directorial and leadership skills to remain applicable in the job market.
- Online MBA degree, Part-Time MBA program, and Distance MBA programs are best for candidates who want to study while working.
List of MBA Specialisations
Here is the list of the most popular MBA specializations in no specific order:
- Operations Management
- Human Resources
- Information Systems
MBA In Entrepreneurship
Entrepreneurship specialization in MBA involves in developing the knowledge and calculated skills and business concepts to launch your start-up and networking in the industry with an entrepreneurial sight. Entrepreneurs face the demanding task of building a business model with the obtainable and limited accessible resources.
The curriculum includes relating theory with real-world projects so that students are aware of the possible barriers and know ways to successfully handle different circumstances and make the right decisions at the right time.
If you choose an MBA in Entrepreneurship, you would be able to use your creativity and analytically to analyze the market scenario about how to create a business idea. You would be able to interconnect with successful entrepreneurs and learn from their successes and mistakes.
MBA in Operations Management
This field of MBA would give you an understanding of operation management and empower you with the skills required to methodically mold the entire system related to manufacturing or services in a way that the company has a competitive and ruthless edge over other organizations.
The recently developed perspectives and the analytical expertise brought in by the MBA in Operations Management graduates can help address the various issues faced towards by handling the entire process which comprises the product design, its manufacture, the basic supply chain management, control over the quality, systemization between various teams including various decisions like deploying and outsourcing.
MBA In Marketing
Students who would for this specialization of MBA in Marketing get the insights into various key areas necessary for every organization or association, some of which include market research and assessment, competitive assessment, the behavior of the consumers, customer assessment, ethics of business, Management of the product, Management of the brand, advertising, digital marketing, and e-commerce.
The MBA in Marketing department plays an important role in any company as they are majorly liable for bringing in new businesses, growing the income, increasing the share in the market, and contributing to the company’s overall growth and various other advantages.
The increasing competitiveness has made it necessary for the need for competitive placement and excellent marketing skills, including the capability to distinguish your product and create a nook for your organization or your company to help the long-term advantage of your products or services provided.
Whether your interest lies in market research or advertising or just sales and distribution of the Fast-moving consumer goods( FMCG), the durability of the consumer or you would like to work in IT sales, media, marketing of various services, marketing of the internet, this specialization of MBA in marketing will give you the chance to explore jobs in several sectors.
MBA In Human Resources
MBA in HR helps you apprehended how to gain, manage, and achieve the staff or employees within a company or an organization in a systematic and well-organized way.
This area points to provide you with the knowledge and ability to manage employees and accomplish the related work processes within a company or an organization covering various features incorporating recruitment, selection of employees, training, and development of employees, designing jobs, evaluation, and motivation (promotion and rewarding performances of the various employees), health and safety, payment managing the deductions of employees from a company.
It also involves managing connection or association or any issues coming to light between the Management and any of the employees. They have to make sure that a friendly and warm relationship exists between them for the even functioning and the success of the company. They may also be required to take charge of various events like get-togethers or off-site visits, which may be an essential part of the office culture.
MBA In Finance
This area looks like a very popular choice of the candidates, and as per Top MBA in Finance evaluation, this one calculates for approximately 22% of all MBA career choice. The tempting pay packets offered in some of the finance-related jobs may be the reason for the high inrush of MBA graduates into the finance stream of MBA.
The specialization would help you get through awareness and insight into how the financial world runs, the knowledge of various financial theories, and how these can be applied to solve the various issues relating to business.
Your career choice after choosing the finance stream could be in any of these areas: investment banking, asset management in firms, hedge backing or private equity, Management of portfolio, Management of credit risk, hedge fund management or derivatives, or imitative. Even the non-financial firms or organizations have their internal or domestic finance department, which would provide various job opportunities for Finance MBA graduates.
MBA In Information Systems
MBA In Information Systems has expanded just about every industry and which is why there is an increasing requirement for professionals with an amalgamation of business and advanced technical knowledge.
The specialization in information Systems of MBA would help you to methodically manage e-commerce so that you have a complete understanding of the changes in the competitive and ruthless business world; you will gain the technical knowledge of emerging technologies in the field of Information Technology.
The various areas that may be covered in this specialization include analysis of the system, network security, data analytics, management of supply chain, e-business, along with organizational decision-making as well as Management of various projects.
MBA In Consulting
Consulting is another popular choice of MBA graduates or can say a dream landing place for some. The high profile jobs offering remarkable payoff with perks and the lucky chance to travel places is the primary reason responsible for the attraction around this profession.
Consultants are hired when a nonmember’s opinion and expertise is needed to provide solutions and ideas to a specific problem or faced by the company or take charge of projects that may be beyond the ability of the internal staff of the project.
There are various divisions related to the consulting profession, including the more popular ones like consulting in strategy, Information Technology, or known as Technology consulting, advertisement, operations consulting, a boutique consulting the less known areas like Human Resources, investments in projects, public relations and media, education.
Those candidates who chose to opt for this specialization should be able to boast about the wide variety of projects they handle for various customers in a variety of industries or geographical locations. But, you have to examine the working hours as some of these areas may cause a disbalance in your work and personal life.
Industry Based MBA Specializations
While the above list focussed mainly on functional specialization, you could also obtain a personalized MBA degree in an industry focus.
Here is a list of a few if those specializations:
- entertainment and sports
MBA In USA For Indian students
Following is a list of various specializations offered in MBA in the USA:
- Agri-Business Management
- Supply Chain Management
- Energy and Management
- Innovation Management
- Environmental Management
- Information Security Management
- Healthcare Management etc
Benefits Of MBA In USA
Numerous reasons make an MBA in the USA a beneficial study destination for students such as:
- They offer more than sufficient career and growth opportunities to foreign nationals.
- Graduate in MBA gets much higher salary paychecks in comparison to students of the. Other fields.
- With a classroom full of students coming from various parts of the world, international students surely get to learn a lot about business management strategies of other countries as well.
- MBA courses give international students ample opportunities to gather experience by completing internships with local companies over there.
Ans. PGDM is a Diploma course, while MBA is a proper course of a degree.
Ans. It varies on the institution but somewhere Between 7.5Lakhs to 25 Lakhs
Ans. An MBA in finance is considered the most popular.