Masters of Business Administration (MBA) is a post graduate course to management. The core courses in an MBA program introduce the various areas of business such as accounting, finance, marketing, human resources and operations management; many programs include elective courses.
Admission in management are generally based on entrance exam scores. Typical process is students are shortlisted on the basis of their performance in the written exam and called for Group Discussion and Personal Interview.
Business schools in many countries offer programs tailored to full-time, part-time, executive, and distance learning students, with specialized concentrations.
The minimum eligibility for MBA course is Bachelor’s degree with a minimum percentage criteria.
It generally a two year duration course. The course gives proficiency in many but master in one subject. The main focus is on giving students a brief idea about various subjects of management. In the later part of the first year they are also introduced with the specialized areas.
Choosing a specialization can be a difficult process for students. It is very important for student to consider their career goals and professional development before choosing a specialization.
In the first year of MBA, all subjects are taught and in the second year the student has to select one field and get masters in that field.
Here are top 10 specializations that strike the chord in MBA
- Finance- MBA in finance is the oldest form of MBA specialization. It prepares you in various subjects like costing, budgeting, International finance, Capital Management etc. After studying these subjects you become specialized in Financial Management which enables you to work in finance department of any organization. If you want to pursue MBA in finance then you must be a graduate in any stream.
- Marketing-MBA Marketing is very dynamic and competitive. MBA in marketing helps a student to understand consumer behavior, market, advertising and many other important fields. One needs to have excellent communication skills, resource mobilization skills and an undying zeal to excel in marketing. If you want to pursue MBA in Marketing then you must be a graduate in any stream.
- Human Recourse (HR)-MBA in HR Management is for those wanting to develop a management career in HR and strategy. This includes diversity, mergers and acquisitions, labor markets and emerging economics and international leadership. If you have good communication skills, a charismatic personality, and are dependable and confident, MBA in HR is for you. Graduate in any stream can pursue MBA in HR.
- International Business (IB)-The Master of International Business provides an in-depth understanding of the organizational capabilities required for international operations, including specialized functions such as international marketing, finance etc. The degree may be thought of as an MBA with a particular focus on multinational corporations. Admission normally requires an undergraduate degree in any discipline.
- Operations-MBA in Operations helps you to deal with Production Management or Shop Floor Management. You learn how to maintain process flows, develop vendor and inter-departmental relationships. Most candidates with engineering backgrounds go for MBA Operations, as it gives them an edge over their peers in product development and designing, and process optimization. However, graduate in any discipline can pursue MBA in operation.
- Information Technology (IT)-MBA in IT is designed to educate & develop managers who can effectively manage the planning, design, selection, implementation, usage & administration of emerging and converging information & communications technologies.IT graduates play essential roles on the business team, typically designing and implementing hardware and software solutions to business problems. Graduate in any stream can pursue MBA in IT.
- Supply Chain Management-MBA in supply chain management is a unique and exciting opportunity in the field of business management. It includes inventory management, warehousing and transportation of various materials as required by a client or a company. Supply chain Management can be done by graduates of any stream.
- Rural Management-MBA in rural Management is a unique programme that is being offered to fulfill the huge industry demands for managers skilled in the field of marketing with a focus on rural businesses. There is immense growth potential in rural markets and increasing realization of this importance to Corporate and Development Organizations. Any graduate can apply for Rural Management MBA.
- Agri Business Management-Agri Business MBA is an upcoming specialization. In this MBA a student learns to manage companies which process, market, and merchandise agricultural products to consumers. The student must understand the management, marketing, and finance with an emphasis on specialized requirements of the agribusiness sector. Any graduate can pursue Agri business Management MBA
- Health Care Management-An MBA in healthcare covers core business skills and practices. But it focuses on the specific issues managers may encounter in roles such as hospital administrators, medical practice managers, insurance-company executives and a wide variety of other roles. Any Graduates can persue MBA in health care management.