List of MBA Specialization- Which One to Choose
MBA, or Masters in Business and Administration, is an internationally recognized degree designed to develop skills required for careers in business and management. The degree is widely considered essential for those targeting top C-level management posts. An MBA from the best MBA colleges in Chennai and elsewhere open doors to vast alumni networks, top-tier internships, and the very best job opportunities. Or, it could be the catalyst for those aiming for their own business venture.
A vital asset of each MBA program is the networking opportunities it opens up to students. MBA classes attract students from diverse nationalities, with varied interests ranging from general management to doing business in sectors like food and beverage, defense, and healthcare. There is no other avenue where so many different personalities can meet and build a multicultural environment together. The top MBA colleges in India provide diverse options in MBA as a whole and offer different specializations that help students focus on a specific stream instead. Let us see the various specializations in an MBA that you can opt for.
List of Various MBA Specializations That You Can Opt for
Marketing is the most well-known and well-renowned stream that MBA offers. Students opting for this specialization would be able to get insights on various key areas required for every organization or corporation. This includes market research and analysis, competitive analysis, consumer behavior, customer analysis, business ethics, product management, brand management, advertising, digital marketing, and e-commerce. The marketing department plays a crucial role in any organization. They are responsible for bringing in new businesses, growing the revenue, increasing market share, and contributing to the company’s growth and profitability. The top MBA colleges in Chennai with placements usually focus more on marketing and finance specialization because the company has a lot of requirements for this particular field. An MBA in marketing offers ample opportunities to aspirants who wish to get into the fast lane of making big money.
This area seems to be a popular choice, and as per the top MBA colleges in Chennai and beyond, it accounts for around 22% of students’ post-MBA career choice. The irresistible pay packages offered in some of the finance-related jobs may be responsible for the high influx of MBA aspirants into the finance stream. This specialization helps you get thorough insights on how the financial world functions, the various financial theories, and how these can be applied to solve various business problems. Your career choice could be in any of these areas: investment banking, asset management firms, hedge funds or private equity, portfolio management, credit risk management, hedge fund management or derivatives. Even the non-financial firms or companies would have their own in-house finance department, which would provide various job opportunities in finance. The aspirants can also opt for financial consultancies and merchant banking if they did an MBA in this particular stream.
3. HR or Human Resource
This area aims to provide you with the knowledge and ability to manage employees and execute the work-related processes within a company, covering various aspects including recruitment, selection, training and development, designing jobs, assessments and motivation (promotions/rewarding performance of employees), health and safety, compensation and managing exits from a company. It also involves managing relations or any issues arising between the management and the employees. As long as there are workers and humans in an organization, this stream would not die down anytime soon, especially if you come from one of the top MBA colleges in Chennai with placements.
4. Operations management
The knowledge of operations management would empower you with the expertise required to efficiently manage the entire system. It might be related to manufacturing or services in a manner that the organization has a competitive edge over others. The newer perspectives and the analytical skills brought in by the MBA graduates from the best MBA colleges in Chennai, for instance, can help address various issues faced towards managing the entire process. It includes product design, manufacture, supply chain management, quality control, coordination between multiple teams, and including different decisions like outsourcing. It also involves supply chain management, logistics, and project management.
This MBA specialization has been instituted to cater to the growing business opportunities in e-entrepreneurship and online businesses. With around 120 million registered websites in cyberspace, e-commerce holds significant promise for future managers. The surge in mobile technologies has transformed this market into a gold mine. With the internet making inroads in developing countries and more business services going online, e-commerce is the new buzzword. An MBA in e-business exposes the students to core business topics like data analytics, managing technology, strategic management, and extra-specialized study for e-commerce which forecasts technology. The MBA e-commerce program provides extensive pedagogy in Marketing Research, Advertising and Sales Promotion, Supply Chain Management, Electronic Commerce Strategy, and Strategic Management.
6. Information system
This specialization would help you efficiently manage e-commerce so that you have a thorough understanding of the core mechanics of the field. With the changes in the competitive business environment, you’d have gained the technical knowledge of emerging technologies in the IT field. The various areas that may be covered in this specialization include systems analysis, network security, data analytics, supply chain management, and e-business, along with managerial decision-making and project management. Since our world is getting advanced day by day, there is a need for analyzing and compiling the data. An MBA in IT or information systems imparts knowledge and skills to future IT managers and also makes them understand various aspects of planning, design, selection, implementation, use, and administration of emerging and converging information and communication technologies.
7. International Business
Organizations these days have been taking their operations to the global level. They have been expanding their companies across nations and need skilled individuals to handle their foreign ventures. This is a growing stream that has gained a lot of recognition. An MBA degree in international business offers an exciting, fast-paced career in global business management. To get through this course, one must possess a spectacularly good business sense and ability to adapt in a multicultural environment.
There are many top MBA colleges in Chennai and other cities which offer various specializations other than the mentioned streams, for example, there is the digital marketing that IIMs offer. The top colleges for MBA and B-schools, all have additional specializations like entrepreneurship, consulting, and even preparing students for NGOs. All these specializations are significant, but an MBA aspirant must possess all the knowledge associated with their particular field, in order to shine.