Master of Business Administration is regarded as the Master’s Degree in Business Administration. The duration of course varies from being a full time-two year course to part time course where in classes are held on weekday evenings or on weekends(Part time Programs last for three years or more).
Eligibility Criteria for MBA:
Candidates must have passed Bachelor’s Degree(Graduation) with minimum 50% marks. Moreover the entrance exams such as Graduate Management Admission Test(GMAT) & Graduate Record Examination(GRE) are conducted in order to select the eligible candidates for MBA.
The chief institutes providing management courses for MBA are the Indian Institute of Management. In a two year Degree Program, during the first year,candidates are exposed to a brief idea on the various subjects & in the later part introduced to the specialized areas.
For the second year, students are required to choose one area of specialization of his/her choice . The selection process of the area of specialization can be a crucial task. One must be very careful while doing so, since it lays an impact on the future goals & in turn on the development of the career.
Watch out for the Top 10 specializations in MBA as given below:
MBA in finance is a veteran form of MBA specialization. It embroils subjects like Costing, Budgeting, International Finance, Capital Management etc. On perusing in-depth study regarding these subjects, one can work in the finance Department of any organization.
MBA in Marketing is charismatic as well as productive in nature. It is a highly competitive field. This particular area of specialization helps a candidate in coming to terms with the consumer behavior, market, advertising, price & other such related aspects. One necessarily needs to possess excellent communication skills, resource mobilization skills & the required amount of enthusiasm to be able to rule in the market.
3. Human Resource(HR):
The scope for MBA in HR, is much more wide for the candidates who wish to develop a Management Career in Hr & strategy. It subsists of diversity, mergers & acquisitions, labor markets & the rising economics & international leadership. A candidate has maximum chances of excelling in MBA with HR with good communication skills, charismatic personality along with high confidence level.
4. International Business:
If one becomes Master of International Business , it provides a comprehensive knowledge of the organizational capabilities needed for International Operations, incorporating specialized functions such as international marketing, finance etc. This particular area of specialization targets on Multinational corporations(MNC’s).
MBA in Operations, comforts one to accord with Production Management or Shop Floor Management. One masters how to maintain process flow, develop vendor as well as inter-departmental relationships. A sizable number of candidates with Engineering background go for MBA in Operations as it provides them with a peculiar threshold over their peers in product development & designing & process optimization.
6. Information Technology:
MBA in IT is devised in order to educate & develop managers who can definitely manage the planning, design, selection, implementation, usage & administration of upcoming & assembling information as well as communication technology. IT graduates have a fundamental role to play on part of the business team, designing & implementing Hardware & Software solutions to business problems.
7. Supply Chain Management:
MBA in Supply Chain Management is an uncommon & lively opportunity in the field of business management. It comprises of areas such as inventory management, warehousing, transportation of various materials as demanded by a client or company.
8. Rural Management:
MBA in Rural Management is an exclusive programme that is being offered to fulfill the massive industry demand for managers who are skilled in the field of marketing with a focus on rural business. There is enormous growth potential in the rural market & its growing need in Corporate & Development Organisations.
9. Agri Business Management:
MBA in Agri Business is a forthcoming area of specialization. Candidates tend to acquire knowledge on managing companies with process, market & providing agricultural products to consumers. Candidates take account of management, marketing & finance with an additional stress on agribusiness sector.
10. Health Care Management:
An MBA in healthcare includes core business skills & practices. It tries to focus on the typical issues, Managers may encounter in roles such as hospital administrators, medical practice managers, insurance company executives .
Candidates in any discipline can apply for any of the above mentioned areas of specialization in MBA.
Hope the above stated information on areas of specialization help the interested candidates in making a wise decision for choosing their field to excel ahead in future. Please post your views or thoughts regarding the same.