Known as a life-changing course, MBA opens ups a world of opportunities promising to enrich the career of driven professionals. Today, MBA/PGDM has become an entry-level qualification for most organizations and earning an MBA degree in the desired field will give a competitive edge in the corporate world. MBA/PGDM degree is offered with various specializations, which allow the candidate to gain in-depth knowledge and expertise in a particular domain. Apparently, there are over 30 MBA streams that are been conducted by eminent management institutes around the world.
What are the MBA specializations?
MBA specialization is considered as the management study in a particular business domain, for example, Marketing, Human Resources or Finance. When a student chooses a particular MBA specialization, he/she will be offered training in that specific domain to prepare them into management professional. Some of the specializations that are in high demand in this 21st century are:
i) MBA in Innovation: Innovation is instilled, it cannot be taught. Although this statement can hold some reality, it's true that in modern times, there is a specialized program that assures to give a strong foundation to future managers and helps them in developing their skills, knowledge, and thinking. To get success in innovation management, one must know how to manage effectively.
ii) MBA in Corporate Social Responsibility: It is a unique program that accumulates the teaching and learning in management with state-of-the-art thinking in corporate social responsibility. Students get to study the nature of different organizations, including private, public, and not-for-profit organizations, their management, and the dynamic environment in which they operate.
iii) MBA in Leadership: Gaining popularity explicitly over time, specialization in leadership equips students with interdisciplinary business education and students also gain the essential aspects of leadership needed for success in the business world. This program usually focuses on disciplines like finance, management and marketing and the methods of team building, corporate communication, and conflict resolution.
iv) MBA in Finance: An MBA in Finance is a coveted degree. The degree program provides an opportunity for the student to specialize in various fields such as international finance, investment management, taxation, tax planning, financial statement reporting and analysis, and insurance management.
v) MBA in Business Analytics: With the rise of big data, businesses increasingly need managers who can quickly analyze and understand the implications of huge amounts of information. An MBA program with a specialization in Business Analytics or Big Data is valuable because it allows students to understand how to collect, sort, and understand the implications of data, and then to understand how to leverage data to meet strategic goals.
vi) MBA in Marketing: Marketing is an essential part of any business be it a large corporate organization or a small-scale industry. Without adequate forms of Marketing, an enterprise cannot strive to expand its business. This is where the role of an individual with a specialized degree in Marketing comes to play. An MBA in Marketing helps an individual develop insights about the Why's and How's of the market and consumer behavior.
vii) MBA in Entrepreneurship: With the increasing air of start-up, MBA in Entrepreneurship is in demand like never before. This course imparts knowledge to students on how to become successful entrepreneurs. The course is a study of teaching how to transform innovations into economic goods. It overall helps aspirants to understand the whole business acumen.
