MBA is among the most demanded post-graduation course worldwide. The dynamic business world has many crucial points which require specialized personnel to handle. In order to meet the requirements of the business different MBA specializations comes into existence.
In this blog, we will discuss the different types of MBA Specialization, their scope, and careers. Before moving ahead let’s have a glance at the MBA degree course.
What is MBA?
MBA is s two-year postgraduate degree program for the participant who wants to build up their career in the management field. It can be pursued online, offline, distance, or in an executive mode of learning. For admission, to the MBA program, the candidate must have a graduation degree with a minimum percentage of 45% marks from a recognized university.
Apart from this, the students are required to pass the aptitude test such as CAT/MAT/AMBA/GMAT or equivalent. Some institute also conducts their own entrance exam to check the aptitude of the candidate. It is followed by a group discussion and a personal interview. Final admission is based on overall performance.
MBA Specializations
General MBA
As the name mentioned is general, the management will include all the key factors or skills that are required to run a successful business. MBA general management concentration allows you to hone your general management skills even further by offering electives on topics such as managing people, operational processes, and digital innovation.
The course covered during the MBA General Management is Accounting, Finance, Operation, Human Resources, Marketing, Entrepreneurship, Strategy, and so on.
Some of the top colleges in India offering General Management PRogram are IIM Ahemdabad, SPJIMR Mumbai, FMA Delhi, XLRI Jamshedpur, IGNOU Delhi, Jamia Milia Islamia, IBS Hyderabad, and so on.
Scope after MBA in General Management: After the course, the candidate can apply for consulting, finance, investment banking, business development, and technology. The MBA in general management also includes skills required to set up your own business, so, you can also opt for the family business or become a start-up with some innovative idea.
MBA in Finance
Finance is one of the crucial parts of any business. All the decisions related to finance have a great impact on the business so every business requires personnel who is an experts in handling finance and calculating the long-term impact on the business. Therefore, the MBA in finance finds its importance in every business.
Typical financial management includes the following subjects Private equity and venture capital, Valuation and M&A, International financial management, Fintech & digital finance, and Corporate finance. It also includes the study of the different model’s theories that help in the financial analysis of the business.
The top B-Schools in India offering MBA in Finance are Narsee Monjee, Mumbai, XLRI Jamshedpur, SP Jain Mumbai, IIM Ahemdabad, IIM Calcutta, IIM Bangalore, IIM Lucknow, FMS Delhi, and so on.
MBA in Finance finds its scope in the following job profiles:
- Financial Analyst
- Treasury
- Stock Markets
- Trading
- Finance manager
- Equity Advisor
- Budget Advisor
The scope of an MBA in finance is diverse and finds its importance even during tough times. It is predicted that finance jobs are expected to boom in the coming years. Thus we can say that whether the firm is medium or small or large the backbone of every business is finance management. Apart from this, the MBA in Finance can also opt for the banking and investment sectors.
MBA in International Business
Are you interested in international trading and roaming around the world? then MBA in International Business (IB) is the right course you would like to pursue.
The curriculum of international Business includes subjects related to the study of international trade and its policies. Some of the major subjects taught during the course are International trade and policies, Cross culture management, International business, and International trading.
Some of the best B-schools in India offering International Business MBA are Symbiosis Institue of International Business (SIIB) Pune, IIFT Delhi, MDI Gurgoan, KJ Somiya Institute of Management Studies & Research Mumbai, BIMTECH Greater Noida, and so on.
There is good scope for an MBA in International Business in India as well as across the globe. This course prepares you to enter the multinational companies that work in the intentional market. However, you can also take your business to the international platform after having an MBA in International Business degree.
MBA in Marketing
If you are interested in learning some innovative skills and using them to enhance your business sales and revenue then the MBA in Marketing is a perfect course for you.
An MBA in marketing helps in learning the skills that are required to make effective marketing strategies and their implementation in the business. The typical marketing course will comprise the following topics Consumer Behaviour, Marketing Management, Branding, Pricing, New product management, CRM, Digital Marketing, and so on.
Some of the top B-schools offering MBA in marketing in India are IIM Banglore, MDI Gurgoan, FMS Delhi, IIM Lucknow, S P Jain Mumbai, and so on.
The MBA in marketing is a versatile field it finds its place in every industry and field. As a graduate in marketing, you can go forward with the following roles Marketing Manager, Advertising Manager, Brand Manager, Market Research Analyst, and Research Analyst. You may also go ahead with entrepreneurship and set up your business in digital marketing.
MBA in Business Analytics
Business Analytics deals with the models and data handling involved in the decision-making process in the business. It also takes into account how to establish connections between the effects of advertising on sales, how historical data can be used to forecast stock returns, and how to evaluate business performance using various KPIs.
During the MBA in Business Analytics program, you will get to know about the following topics Data Mining, Data visualization, Risk management, Data analytics, Trading, Customer Insight, and research. Such a program is helpful in analyzing the risk and opportunity factors for the business.
Some of the top B-schools in India offering MBAs in Business Analytics are IIM Calcutta, IIM Banglore, ISB Hyderabad, XLRI Jamshedpur, IIM Indore, VGSom Kharagpur, Taxila Business school Jaipur, and so on.
Business Analytics finds its scope in the following fields financial analysis, Business analytics specialist, Big Data Analytics, Data Scientist, and Strategy making. Apart from this, the MBA in Business Analytics also finds a place in marketing, consulting, or finance, in roles to do with brand management, management consulting, operations, and strategic planning.
MBA in Human Resources
Humans are important assets of any organization and managing them is one of the typical tasks. Every human has different needs and managing them under one roof is the main task of the human resource manager. Thus, the MBA in human resources equips you to work in a dynamic industry.
The typical course in Human Resources includes Recruitment & Selection, Performance Appraisal, Training & development, human resources analytics, consulting, operational management, and employment law.
Top B-school of India offering MBA in Human Resource XLRI Jamshedpur, MDI Gurgoan, Tata Institute of Social Science Mumbai, NMIMS Mumbai, IIM Bangalore, and so on.
Human Resources finds its place in every organization so the MBA in HR finds its place in every organization and sector. Almost all companies have a separate HR department so the career opportunities for the MBA in HR are wide and versatile.
MBA in Supply Chain Management
MBA in the supply chain helps in learning the concept of management in the supply and stocks such that no extra procurement cost incur and the production process also runs in a continuous manner. It is one of the innovative specializations in MBA.
The core course of the MBA in Supply chain management includes Logistics, procurement, supply chain strategy, and risk of procurement. The supply is an important part of the production process so the supply chain MBA finds a good scope in the production units.
Some of the top B-schools offering Supply Chain MBAs are IIM Calcutta, IIM Bangalore, XlRI Jamshedpur, IIM Udaipur, Manipal University, Amity university, and so on.
MBA in Healthcare Management
This field is relevant for students who have a background in the health care or medical sector. MBA in Health care enables students to respond to issues unique to this sector, such as strategic planning in health and social care settings.
Core concepts learned during the program include Business Strategy, Health care policies, Economics, Digital health transformation, and health management. The health sector in India is advancing and growing up to new heights so an MBA in this sector will find good opportunities currently as well as in the future.
Top B-schools in India offering MBA in health care management are IIM Calcutta, FMS Delhi, ISB Hyderabad, Amity Global Business School Noida, IIHMR University Jaipur, Symbiosis Institue of health Science Pune, and so on.
Since every hospital administration requires a good health care plan so that their patients and staff are satisfied with the service hence, MBA in health care management will find its best scope in the hospitals and their administration department.
MBA in Enterprenuership
Are you looking to start your own business? then with an MBA degree, it will be a tough task. The MBA in Entrepreneurship helps you in developing the skills necessary for a business start-up.
The core course of the MBA in entrepreneurship includes Venture creation, Upscaling the business, growth strategy, engaging and communicating with stakeholders, and data-driven business models.
Some of the top B-schools in India offering an MBA in Entrepreneurship are MITSOM Pune, MIT Solan, IIM Bangalore, IIM Calcutta, ISB Hyderabad, and We school Mumbai.
After completing MBA in entrepreneurship one can easily set up his own start-up or can opt for the director or CEO in private enterprises.
MBA in Consulting
It prepares you for a career in consultation, it is one of the most trending industries in India in the current scenario. By the time you graduate, you will be perfectly suited for the industry because you will have developed your communication and presentation skills, learned how to work and lead diverse teams, and gained an understanding of how businesses operate from top to bottom.
There will be lots of chances to practice giving presentations and speaking in front of an audience. After the course completion, you will develop People skills, the ability to analyze business cases, and knowledge of how to deal with a range of business challenges.
Top MBA colleges in India offering MBA in Consulting IIM Indore, IIM kozikode, IIM Lucknow, FMS Jamshedpur, MIT solan, MDI Gurgoan, and IIT Delhi.
The MBA in Consulting will get a job opportunity in a big consultancy service such as Boston Consultancy Group, Deollite, McKinsey & Company, KPMG, and Ernst & young.
MBA in Information Technology
The IT MBA helps the aspirant to prepare for a role such as CTO (Chief Technology Officer) or Director in an IT company. Since the IT sector is booming and everything is going online so the MBA in IT has its own relevance.
The core subjects in MBA in IT are Network operations, management, and security, Database management systems, Business process re-engineering, Managing IT-enabled services, and Managing e-business/business intelligence.
Top MBA colleges of IT in India are IIM Ahemdabad, IIM Bangalore, Symbiosis Pune, IIM Lucknow, IIM khozikode, IIM Indore, IIT Delhi, XLRI Jamshedpur, and MDI Gurgoan.
Its scope encompasses a diverse range of industries, including networking, e-commerce, data handling and management, software, and internet-based businesses. Business analyst, IT management consultant, digital leader, IT architect, data processing manager, systems software manager, and product manager are a few exciting careers that an MBA graduate can begin.
Which MBA Specialization is best?
Actually, this question does not have an answer. As we have seen above different specializations have offered different benefits and scopes, so we cannot differentiate like this one is better than that.
As an MBA aspirant, we would suggest you choose the specialization s per your interest and preference that you enjoy while working with that kind of job.
How to choose the best specialization?
Choosing the specialization that suits you is a tough task as every specialization is unique. We have made a list of the specialization some may be missed as new branches can add on as per the industry requirement and b-School advancement.
However, choosing the specialization solely depends on the choice of the candidate. Analyze yourself and predict where you find yourself after 5 or 10 years. If you find this to be too challenging, consider the aspects of business that you find enjoyable. Is that marketing? Finance? or operations? In order to think about potential careers that you would enjoy, as well as the MBA program or specializations that can help you get there, it can be helpful to identify areas of interest.
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