Types of MBA Specialization
There are over numerous MBA/PGDM Specializations which are currently being offered at the top institutes in India. Yes! Tons of MBA programs for you to choose from. You probably won't even find that many different ice cream flavors in town. But hey, MBA is THE most sought-after degree in the corporate world.
Now to qualify as a candidate applying for an MBA degree, one must have 50% aggregate marks. at the bachelors level. Further, the candidate must have appeared for at least one MBA entrance exam like CAT/XAT/MAT/GMAT or any other university entrance exam. In the first year of the MBA degree, the coursework of the students is the same for all streams. In the 2 nd year the students can choose their specialization depending on their interest.
But what really is an "MBA Specialization"?
While pursuing an MBA degree, a student is given a varied portfolio of electives to choose from in the domain of Finance, HR, Marketing and so on. After successful completion of the set of elective courses devoted to a certain area, the student is awarded an MBA with specialization in that particular domain.
Traditionally, MBA in Finance, Marketing, HR, Logistics, Operations and Entrepreneurship are the most popular and in demand MBA Specializations. But we live in an ever-changing world where technology and continued innovations are opening newer opportunities in diverse fields. Hence, to stay ahead of the curve, the MBA institutions have now started providing specializations in other rising fields like rural management, healthcare, tourism and hospitality, digital marketing and more.
Here's a list of the most popular MBA Specializations in India:-
An MBA in Finance and you’ll be counting notes for the rest of your life.
The key to a successful business is product and brand marketing.
MBA Human Resource Management
What if we tell you train and shape the managers of tomorrow?
MBA in Logistics Management
A MBA Specialization in Logistics and Supply Chain Management...
MBA in Operations Management
All operations relating to the count and supply of merchandise will be...
MBA in Entrepreneurship
Have an innovative business idea but don’t know how to go about it?
MBA Rural Management
Did you know that over 60% of the Indian population is still living...
MBA Healthcare Management
A healthcare Manager is responsible for facilitating healthcare services...
MBA in Tourism and Hospitality
This booming million-dollar industry and a MBA specialization...
An MBA in Finance and you'll be counting notes for the rest of your life. This field of Specialization is the most in demand and make no mistake, there’s some serious competition for a spot in this domain. It'll open plenty of opportunities in the field of corporate banking, investment banking, financial planning, commercial banking, asset management, credit risk management and more. So, if you’re good with numbers and have a good analytical mind, also if you'll looking for the coolest white-collar job that pays for your expensive cocktails then look no further. Get your degree in Finance and you'll have it all.
MBA Finance subjects & syllabus
Subjects included in MBA Finance course are:-
- Corporate investment management
- Commercial banking
- Derivatives market
- Corporate finance
- International finance
Overview of global financial institutions, valuation, risk, return, diversification, international markets, and macroeconomics.
The key to a successful business is product and brand marketing. The marketing team constitutes one of the pillars holding a company. This makes it one of the most popular MBA Specializations out there.
Students with good interpersonal and communication skills, analytical ability and a creative state of mind are best suited for a specialization in marketing.
Some of the key courses in Marketing are:-
- Consumer behavior
- Brand strategy
- Sales force management
- International marketing
- Digital marketing
MBA Human Resource Management:-
What if we tell you train and shape the managers of tomorrow? Yes! That's exactly what they teach you in HR 101. You'll be hiring employees and training managers to help them churn their full potential.
Human Resource Management teaches employee performance assessment, workforce regulation, maintaining workforce standards, safety, health, and welfare assessment.
This premier field of Specialization is the most suitable for a career in workforce management and has immense career prospects because guess what? There’s literally no company on this planet that can function without a Human Resource Team.
Logistics Management / Operations Management:-
A MBA Specialization in Logistics and Supply Chain Management or a related field operations management equips you to ensure the safe and efficient delivery of products to the consumers. All operations relating to the count and supply of merchandise will be handled by you.
Irrespective of the size of the business, be it a logistic startup or the likes of Amazon, every company needs an efficient supply chain and to ensure that it functions properly, they need logistics managers.
Some of the key aspects covered under this specialization:-
- Logistic Management
- Business Environment and Ethics
- Export Trade and Documentation
- Organizational Behavior
- Quality Management and Quality Techniques
- Retail Marketing and CRM
- Strategic Management
MBA in Entrepreneurship:-
Have an innovative business idea but don’t know how to go about it? Then my friend, you need a degree in entrepreneurship management. In this era of cut throat competition having an entrepreneurial spirit is great but unfortunately that’s not enough to run a successful startup. This MBA Specialization nurtures your entrepreneurial mind and equips with the skills needed to make your business successful.
Below are some of the subjects taught under this specialization:-
- Organizational Behavior
- Innovation & Creativity in Business
- Financing the new venture
- Strategies for Small Business Management
- Corporate Culture & Intrapreneurship
- Human Resource Management
- Building Entrepreneurial Culture & Team
- Managing a Growing Business
- Inventory Management
- Increasing Profitability/li>
- Investing Rewards
MBA Rural Management:-
Did you know that over 60% of the Indian population is still living in the rural areas? Moreover, India being a predominantly agrarian economy, the agricultural and rural sector is a key area of focus for the country. This is exactly why this relatively newer stream of specialization has been gaining popularity.
In Rural Management, students are taught to work on projects focusing on the systematic development and upliftment of the rural economy.
With this specialization students can expect to work with the Government, NABARD, RBI, NGOs, Grameen Banks etc.
MBA Healthcare Management:-
What is the job of a healthcare manager? A healthcare Manager is responsible for facilitating healthcare services, checking the quality and budget of care in hospitals, clinics, and nursing homes. Talk about a career that is selfless and financially rewarding!
A specialization in healthcare management can open work opportunities as a health administrator, clinical research manager, nursing home administrator, health information manager, hospital manager etc.
Focus of the specialization includes:-
- Managerial Communication
- Organizational Behavior
- Healthcare Economics
- Health Management
- Fundamental of Healthcare Administration
- Hospital Planning
- Hospital Administration
- Strategic Management
- Finance Management
MBA in Tourism and Hospitality:-
This booming million-dollar industry and a MBA specialization in this domain has been gaining popularity in recent times. This Specialization best caters to the students interested in working and managing top notch hotel chains, bars, resorts, hiking and trekking companies, airlines, and other hospitality businesses.
Aspirants planning to specialize in this area of management need to have a pleasant personality, calm and collected demeanor along with crisp communication skills while interacting with customers/clients.
MBA in Hospitality and Tourism Management focuses on the following areas:-
- Hotel & Catering Management
- Eco Tourism
- Fundamentals of Tourism and Travel
- Marketing of Hospitality Service
- Tourism and Travel
- Leisure Management
- Facility and Security Management
- Event Management
- Cultural Ethos
Guys, choosing a specialization is one of the most important decisions of your MBA journey. It depends on a variety of factors that you need to weigh in before taking the jump but most of all on career goals, growth opportunity in the specialization field and scope for professional development.
So next time the interviewer asks where you see yourself in the next 5 years, take that question seriously because this is exactly what you should be asking yourself before choosing your MBA specialization.