MBA, short for - Master of Business Administration, is a highly valued degree designed to develop the skills required for careers in business and management. Attaining an MBA allows you to learn how to successfully manage, lead, organize and adapt in a variety of business environments. The skills learned through an MBA program prepare you with practical skills as well as theoretical knowledge that you can further your business aspirations with. An MBA can translate your raw potential into great opportunities.
Most MBA programs include a core curriculum of subjects, such as accounting, economics, marketing, and operations, as well as elective courses that allow participants to follow their own personal or professional interests. Some schools require that MBA candidates complete an internship at a company or organization, which can lead to concrete job opportunities after the program.
MBA currently is the most popular internationally-recognized professional degree in the world. There are as much as 2,500 MBA programs available worldwide in various languages, majorly in English.
Some of the most common MBA specializations/degrees are described here:
1) Accounting - What is MBA in Accounting all about?
An MBA in accounting is one of the most popular MBA courses in India. The course offers an individual with varied prospects across the globe as it stresses upon developing skills that are very important for the operation & control of accounting information systems of any company. The course can be pursued as a full-time or a part-time degree.
Both, students having an undergraduate degree in Accounting or in commerce as well as those who do not belong to the commerce background can apply to the full time courses nation-wide. Whereas, the part-time courses are executive MBA courses that are suitable for professionals with a few year of experience.
2) Human Resources Management - What is MBA in HR all about?
Human Resources is a field with enormous potential. It deals in several aspects of the functioning of an organization. An MBA in HR will hone the skills of an individual and master the field by learning the topics that are relevant to corporate headhunting, compensation management and business coaching.
The HR program in MBA will teach subjects like Organizational development, business analysis and employee recruitment. An MBA in HR is a boon to all of those looking for a successful stint at the corporate level.
3) Finance - What is MBA in Finance all about?
Finance is an integral part of any organization and generally is done by the math and account wizards. MBA in finance will perfect your accounting skills by inculcating teachings that sharpen your existing skills set. Even the recruiters understand that a person who has an MBA degree in Finance is more refined in his knowledge.
An MBA in Finance prepares students for leadership roles in financial corporations, healthcare industries and government. Students learn about all aspects of corporate finances such as conducting analyses, managing portfolios and developing business strategies.
4) Marketing - What is MBA in Marketing all about?
A degree in marketing prepares you for a fast-paced business of developing, marketing, and selling products to different consumer markets. An MBA in Marketing offers specialized courses in consumer behavior, brand and product management, promotions and marketing strategies, apart from the regular courses including advanced business strategies, human resources and finance.
An MBA in Marketing presents an opportunity to lead your way towards higher positions, increased salary and better career opportunities in a variety of fields. The MBA courses trains you to develop a variety of business skills which can be applied and transferred to other business arenas.
5) Economics - What is MBA in Economics all about?
An MBA in Economics is one of those versatile management courses out there which teaches an individual the fundamentals of economic decision-making and focuses on various practical aspects of business & commerce. It aims to develop an articulate mindset in individuals to maximize any business's potential.
An economic graduate will be able to set up a business in view of the local market & anticipate its growth and development keeping in mind both the local as well as international market standards. Most of the jobs that attract graduates with an Economics MBA degree are those that involve a lot of decision making and supervisory roles.
This degree imparts theoretical knowledge which can be put to practical use in almost all aspects of business. Therefore there are many different opportunities that graduates may want to pursue.
The following are the other fields that are available for doing an MBA -
- Business Management
- Global Management
- Information Systems
- Operations Management
- Strategic/Risk Management
- Technology Management
- Leadership Programs
- PG Programs
The goal of most business professionals is to obtain a management position, and to effectively manage an organization within a particular industry substantial knowledge about it is necessary. Management MBAs are designed to help professionals develop their industry expertise in such areas as health care, banking, leadership, hospitality, IT and supply chain.
The MBA Advantage -
An MBA gives you recognition and leadership that cannot be earned in the workplace alone. Taking a post graduate level course work in business administration will prepare you to work in a wide range of business organizations, thus expanding your potential and expertise. MBAs are recognized in most countries as respected business credentials, opening up a world of career opportunities for such degree holders.
While traditional two year MBA programs are still common, one year MBA programs have become increasingly popular. Part-time and online programs are also widely available for professionals not willing or unable to take a year or two off to do a full time program. Executive MBA programs in India are targeted at professionals with more years of managerial experience than traditional MBA candidates.
After going through the above points, it’s pretty sure that every doubt in your minds about what is MBA would have been solved.
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