Selection of specializations in MBA

August 6th, 2010| Education.

Selection of specializations in MBA

In a two year Master of Business Administration course, the first year has the curriculum of all the related subjects of Business Management.   This procedure is followed by all the IIms, Central Universities and State Universities.  A student can decide himself what specialized subjects he should choose from the subjects taught in the first year.

Finance Management

Finance Management teaches the techniques of managing the finances of Organizations.  Finance Management is not just maintaining the transactions and accounts.  But these are two important segments in Finance Management.  The students of Finance Management get a thorough knowledge of Costing, Budgeting, Working capital management, Corporate Finance, Investment and Securities Analysis and Planning by the end of their course.  This specialization is apt for B.com students.  To excel in this field one should have Analytical Reasoning skills, Quantitative aptitude, problem solving skills, Interpersonal Skills and decision making skills.

Marketing

Marketing is the ever green and most popular specialization branch.  Marketing is the basic need for the existence and development of any company from MNC to SSI units.  There is a misconception that marketing means selling the products in the market.  But this is not true.  Marketing means, performing the duties like brand building, pricing, promotion, marketing research and trend analysis, scientifically.  To choose this specialization one should have good communication skills, demonstration skills, adoptability and alertness.  Above all the courage to meet the deadlines is very important.

Human Resource Management

The important duty of the Human Resource Management is proper utilisation  of company’s Human Resources there by striving for the existence of the organisation.  Recruiting a person and analyzing his work culture etc are the important duties of the HR Managers.  So students of HR management are taught the subjects like Staffing, Recruiting, Industrial Disputes, Personal Management and Labour Laws.  This is suitable for those students who fear mathematics.  Candidates who finish this course have to carry out duties like training and primary duties like parole preparation and administration etc.

Operations Management

Operation Management department is useful to any organization like Trading, Service or Manufacturing from the initial stages.    The students of this course are taught the subjects like Inventory Management,  Vendor Development,  Production, Quality Management, Purchase Functions, Operations and Maintenance of Plants, utilities etc.   To get success in this career the candidate should have the ability to analyze things like critical analysis, risks in execution of a plan and ways to face the risks etc.    One has to improve their critical, logical thinking and technical skills.  There is a feeling that this specialization is the right destination for candidates having technical qualifications like bachelors degree in Engineering or candidates who are interested in Logistics.  Communication skills, Interpersonal skills, Team leadership, Problem solving and stress management skills are also important.

Information Systems

Information Systems Management is developing the skills to manage the business through technical knowledge.  The execution techniques of recognizing a company’s need of any Software and Hardware platforms is taught here.   This is a better option for Graduates in IT, Computer Science and Electronics.  The students who finish this course can get opportunities like Project Leaders in IT companies, Business Process Consultants, Techno Managers in Marketing companies, Business Analysts and ERP consultants.

Entrepreneurship

There is a feeling among the students that this specialization is for those who want to start their own business in future.  There are many opportunities opening up for the students of this specialization.  Especially developing companies like Technology, Media and Automobile are giving opportunities to these candidates.  The curriculum of the course teaches the techniques of Administrative strategies and innovations etc.

International Business

International Business is now an important specialization after the financial reforms are introduced in the country.  Curriculum is designed with topics like International business affairs,  Business rules and regulations in various countries, Indian Business policy, exim policies etc.  This specialization is suitable for candidates with any educational background like Science, Arts and Humanities.  Candidates who finish this course can get job opportunities in Export houses, MNCs and International trade organizations. Choosing International Business as dual specialization along with Marketing specialization will be useful.   But the candidates should have the skills like working in different cultures, interest in travelling, continued learning, awareness in government policies in exports and imports etc.

Self Analysis

Minimum guarantee can be given to candidates of any specialization in present market situations.  But to be successful in whatever field, candidates should be alert in selecting the specialization.  Swot analysis is important.  Take all the things like academic strengths and weaknesses, opportunities relating to the specialization in to consideration.  Take the advice of the persons who are already successful in this field.  Swot analysis should be done daily, weekly, quarterly and half yearly basis.  Have clarity in things like with whom you are competing etc.

Continuous Learning

Absolute knowledge in courses like MBA is possible only with continuous learning.  Set daily targets.  This gives confidence.  Along with academics, read at least one case study daily. Read about a successful person and successful organization every day.  This gives inspiration.  Awareness in present market trends is also possible with continuous reading.

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