How to Choose a Specialization in MBA?
First things first, all universities/B-Schools will give you a certificate certifying you to be a “Masters in Business Administration” or a “Post Graduate Diploma in Business Management”. In most cases, your specialization is not even mentioned in your certificate. Unless you mention it to someone, they would not really know what your specialization is. So, does a specialization really matter? Yes it does! It does matter in deciding the academic path you would take during your course which will eventually lead you to your goal of doing a MBA.
Generally, a full time MBA course is a two-year programme, where the first year usually covers the general management topics and only in the second year does one specialize in a particular field. So how do you decide what is the best specialization for you.
What is best for you will totally depend upon what your goal in life is, what you really want to achieve in life and how you think this MBA course would help you in getting there. There are plenty of options available for students to choose from, ranging from a broader one like “Marketing” to much more specific likes “Consumer Behaviour”. It all depends on how focused one is to its goals and what path they decide to take. Whatever you decide shall be where your passion lies, because without passion you would never be able to succeed, you have to like what you doing and only then will it create greater synergies for you to make a mark.
The first year/semester of your MBA would give you a clearer idea about what each of the specializations will contain and making a decision would become much easier. There is no such specialization which guarantees you a good job or a good pay package, that totally depends upon the person’s capabilities and his skills of applying what has been learns during the course. The following are the most common specializations with a small brief on each of them.
It is a necessary component of any business and specialists in this area are expected to help the management/clients etc to take sound financial decisions on how the money is managed. Finance is a very broad term which contains various sub-categories like corporate finance,
securities market etc. It is NOT only about numbers, but has various concepts which have to be used along with numbers.
It all boils down to this! You might have an excellent product, but if it’s not marketed properly it as good as not being there. These guys get money for the company and hence are well taken off. It usually involves selling of products, services, ideas and anything and everything. Marketing will teach you various concepts of how to follow the golden rule – If you can’t convince, confuse. Almost everything you can think of will be a theory in this field. But jobs in this field are mostly backed by sales targets and hitting the market on the face. So if you are ready for a challenging job, marketing is your field.
Another important part of any organization. Your people are your biggest strength and assets. If you don’t have the right people at the right place with the right attitude, it can spell doom for your company. Human Resource is involved in dealing with people at different levels, right from their selection process, their compensation, and their welfare till resolving of internal conflicts. If you think you are a people’s person, this one is for you.
This area helps in technically integrating all functions in an organization. Courses in this field deal in Database Management, Software Project Management, System Analysis and Designing etc.
This is another interesting field with varied courses and is helpful to all types of organizations. A specialist in this field is expected to handle various departments for their quality and performance management. An operations specialist shall help the business in reducing its production costs, but maintaining the best quality. Supply Chain Management, Sig Sigma, Project Management etc form an integral part of this specialization.
As the name goes, this specialization intends to make you a global specialist with a working knowledge of how global trade is done. It covers subjects like International Marketing, Finance, Business Laws and Trade and Policy Frameworks.
Anyone with the passion and enthusiasm to learn any of the above can take these specializations. There is no such per-requisite for any of these courses which can hold you. If your passion lies in a particular area, you can definitely learn and make a mark in it with hard work and dedication.
All in all, each of these specializations comes with their own techniques and challenges and each organization would definitely need specialists in each of these areas. A person with a MBA degree is often looked up as a leader with strong basic knowledge of everything, but a champion of its specialization. A person with a MBA degree is often looked up as a leader with strong basic knowledge of everything, but a champion of its specialization, Best B Schools in India, MBA dual