Details of MBA courses

Master of Business Administration (MBA) prepares students on comprehensive training in a wide variety of business disciplines. It communicates a strong theoretical background in business concepts. Other than the functions of business MBA involves students to develop their managerial and leadership skills. There can be single or dual specialization according to the university/college, which has to be chosen by the students in order to get more insights about that particular field. The basic requirement to get admission in MBA is a graduate degree in any domain but it is important to consider the domain when you select the specialization. It is always better to opt the specialization after understanding the skills required in the particular domain.

What are the Benefits of studying MBA?

Confidence: It definitely boosts your confidence in terms of everything as it is involved with giving a number of presentations, group discussions, debuts and many things that will build your confidence to express yourself and more importantly to express your views to everyone which is very much important in the process of developing a business.

Dealing with People: As a manager or team leader, you will have to deal with many people in order to share your insight and get the work done. This is very hard without knowing the art of dealing with people. Even though this is not thought to you in any of the MBA programs but you get the opportunity to learn this inherently during the course period.

Business Functions: Even though you are required to concentrate or specialize in any particular field like Marketing, HR, Finance and so on, you get the overview of everything a business deals with. It helps you in easily handling a position which requires the insights about almost everything in a business. Likewise, it also helps you to be an entrepreneur.

Career Advancement: Be it in terms of promotion, designation or a salary hike. You become a part of management and thereby learning how to make decisions perfectly. It then depends on you to climb the ladder from the bottom line to the senior manager as MBA gives you a boost to it.

Adaptability: As a manager or even as a new joiner in a company you will have to deal with different people as well as different scenarios. So the capability to tackle the different situations and get adapted to the environment is required, and how do you get adapted to the dynamic environment is what you learn from MBA.

High in demand: It is easy to find a suitable job in any of the renowned company or in any promising startups. It not only gives you a high salary but also increases your job security.

Degree specializations: Specializing in any particular field will give you relevant knowledge required in the specific area which helps you to directly implement it in the workspace. It is also beneficial for the employers to perfectly sort out the candidates with their requirement.

Best MBA Courses in India

Choosing a specialization is mandatory as the employers recruit the employees based on their specialized skills. The majority of the students are selected from marketing followed by the finance specialization.

Most of the students get confused while choosing the specialization in MBA. This article explains you about each specialization offered in MBA in order to choose the course which best suits you and accordingly select the best MBA college.

Here is the list of best MBA specialization and the key skills required

MBA in Finance

Finance is one of the most popular and highly opted domain in MBA. It mainly concentrates on various topics like Costing, Budgeting, International Finance, Capital Management and so on which makes you capable of working in the finance department of any organization. The eligibility to choose MBA in finance is attaining a graduation degree in any stream but it will be more helpful if you choose any commerce courses in your graduation degree.

There are many opportunities awaiting for skilled people in the Banking Sector, thus it is an added boon for the students pursuing MBA in finance. Also, there are opportunities in various other sectors such as Insurance Industry, Investment Funds Industry, Stock exchange, and so on.

Skills Required for MBA in Finance

  • Good knowledge about stock market

  • Problem Solving Skills

  • Analytical ability

  • Financial reporting

MBA in Marketing

It helps a student to understand consumer behavior, market behavior, competition analysis, aspects of advertising and many other crucial skills that help to improve the marketing attributes of any product or service. The main requirements to fit into this specialization is excellent communication skills and brainstorming skills. Creativity plays an important role in developing the marketing attributes of a product or service. If you are inspired by marketing strategies of any renowned company or passionate about marketing, you can choose this specialization.

As a career, it does have plenty of opportunities as the marketing department is considered as the backbone of any organization. They have the basic responsibility of bringing business/profit to the organization. Moreover, there is an enormous level of scope for digital marketing in the upcoming days.

Skills Required for MBA in Marketing

  • Communication skills

  • Analyzing competition and market

  • Strategic thinking

  • Brainstorming new ideas

  • Teamwork

MBA in Human Resource Management (HRM)

This specialization is for the students who wish to become part in managing the human resource of an organization. The HR representative has widespread functions from recruiting an employee to the organization to taking an exit interview when an employee leaves the company. The purpose of the HR Representative is to make the optimum use of the human resource. If you possess good communication skills and have a charismatic personality, then you can choose the HRM specialization. However, the MBA program gives you an opportunity to improve your communication skills and make you confident through various presentations and debates that you will have to go through in the course period.

As an MBA graduate in HRM, you can get a decent beginning at a mid-management level or as a team leader. The designation in an organization can be in these roles which include Administrative Roles, Specialist Roles, Mid-Level Leadership, Senior Leadership & Executive Roles, and so on.

Skills Required for MBA in Human Resource Marketing

  • Communication skills

  • Managerial skills

  • Critical thinking

  • Ethical Approach

MBA in International Business (IB)

It deals with an in-depth understanding of the organizational capabilities required for international operations. It involves teaching specialized functions such as international marketing, finance and so on. This increases the chance to travel around the world hence adaptability to different environment and culture is the basic requirement necessary to fit in this domain. One more requirement is a commerce background as it involves international finance which might be difficult for a student with a non-finance background.

The crucial functions you will have to deal with are Export & Import Management, Foreign Exchange Management, International Finance, International Marketing, International Logistics and so on. As almost every organization is in a phase to extend their business to international standards, there is a plenty of career opportunities.

The designations offered include Management Analyst, Administrative Service Manager, Chief Executive Officer and so on.

Skills Required for MBA in International Business (IB)

  • Leadership skills

  • Communication skills

  • Management skills

  • International trade basics

  • International law

  • Accounting skills

MBA in Operation Management

It deals with the understanding about the Production Management or Shop Floor Management related functions of an organization. Through this specialization, students will learn to maintain process flows, develop vendor and inter-departmental relationships. This domain best suits the students with an engineering background as it deals with product development and designing and process optimization.

The suitable designations are Operations Managers, Logistics Engineers, Quality Analyst.

Skills Required for MBA in Operation Management

  • Conflict Management

  • Business Negotiation

  • Decision-Making

  • People Management

  • Data Processing Skills

MBA in Information Technology (IT)

It is designed to craft managers who can efficiently manage the usage and administration of emerging and converging information & communications technologies. They play an important role in solving business problems by designing and implementing hardware and software solutions. Hence, problem analyzing and solving skills are required to fit in this domain.

MBA in Information Technology (IT) will get you an exposure in the following subjects

  • Computer Security

  • Management of Information Systems

  • Legal and Ethical Business Practices

  • Database Management

  • Information Technology Infrastructure

  • Systems Analysis and Design

  • Financial Analysis for Technology Managers

The Bureau of Labor Statistics (BLS) forecasts that computer and information technology occupations will grow by 13% in 10 years, which is faster than the average growth for all occupations.

Skills Required for MBA in Information Technology (IT)

  • Commercial awareness/market knowledge.

  • Data analytics

  • Accounting skills

  • Problem-solving

  • Teamwork

MBA in Supply Chain Management

It deals with inventory management, warehousing, and shipment of various materials required by the company. It involves the functions in Logistics and Transportation, Supply Chain Models, Supply Chain Management, Global Supply Chain Management, Supply Chain Strategy and so on.

The job designations are Facility Manager, Distribution Manager, Warehouse Manager, Supply Chain Manager and so on.

Skills Required for MBA in Supply Chain Management

  • Domain knowledge

  • Negotiation skills

  • Follow up skills

  • Analytical skills

  • Judgment and decision-making skills

  • Team-work

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