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MBA (Masters of Business Administration) is a professional course which focuses on the core aspects of management.
Talking from the beginning about MBA, MBA was introduced in the Wharton School of Business of the University of Pennsylvania, USA for the first time in the early 20th century due to the need of increasing scientific approaches of management to the companies. MBA in India is a two-year course of study in the first year students are introduced to the general aspects of administration, and in the second year, they get to choose the specific field as per their interest. It is designed to cover various areas of business management like finance, accounting, marketing, operations management, agriculture, IT, human resource management, statistics and many more. MBA is a professional degree, which prepares the futures business leaders.
In India majority of top B-schools are providing PGDM program (Post Graduate Diploma in Management) that is an industry-oriented course, in India PGDM is usually deemed as equivalent to MBA but you will not be allowed to pursue a Ph.D. with your PGDM until your PGDM qualifies the equivalency norms for MBA as per AIU (Association of Indian Universities). Universities provide an MBA which are accredited by UGC (University Grants Commission), autonomous educational institutions don’t.
Taking a look upon the various specializations available in India, there are numerous specialties for MBA are available in India.
MBA in Marketing
MBA in Marketing is one of the sought specializations in MBA, which lay the groundwork for the students to transform the consumer needs into products and services, which is offered by that concerned company. Marketing industry of India is extensive and is about to be the value of USD 250 Billion by 2020. If you have excellent abilities to negotiate and to understand the consumer behavior, then you should go for marketing.M
MBA in HRM (Human Resource Management)
HRM (Human Resource Management) is a fascinating field if you are aspiring to have excellent communication skill and outstanding personality then you should take HRM as a specialization your MBA. Human Resource is the most prominent resource of a company and as two companies can have the same wealth as the same assets but the company only succeeds when the human resource (employees of the company) is excellent. This specialization prepares students to recruit, to provide training, to build a good employee policy and to compensate employees as per their contributions to the company.
MBA in Finance
MBA in Finance is one of the most sought areas of management as the growth in this field is sky-scraping. MBA in Finance prepares the students about how to plan and use the financial resources of a company in the most efficient ways. It focuses on the various aspects of management like accounting, managerial economics, financial management, income tax laws, treasury and risk management. There are copious careers available in Finance.
MBA in IT (Information Technology)
MBA in IT prepares the students to take care of a company’s information resources and to use them in a best and possible way and to communicate the right set of information to the right person. Information management is crucial for a company and company pays a handsome salary to the ITM professionals as well.MBA in ITM teaches about various subjects like E-Business, IT Project Management IT Consulting and Advisory.
MBA in Logistics management
MBA in Logistics management teaches the students about the aspects of supply chain management. Supply chain management refers to the flow of products and services from the point of manufacturing to consumption by the consumers. It makes the students aware that how to control the flow of goods and services effectively and efficiently. Large or multinational companies always prefer to have a separate and well-organized department of logistics and supply chain management. It’s an exciting subject field.
MBA in Business Management
MBA in Business Management teaches all aspects of management collectively like sales, marketing, personnel management, finance, operations, international business, human resources, retail management, etc. Students get to learn all aspects of management. Students who are confused about what to choose as their specialization can opt this
‘General management’ or ‘Business management’. Students can go to any field after completing MBA in Business Management.
MBA in Rural Marketing
In India, Rural market industry is quite big contributes a significant proportion to India’s GDP. MBA in rural marketing involves the management and development of the agricultural sector of India. This specialization’s preference is increasing day by day among the students. Rural market directly relates to the FMCG product and its worth is going to be USD 100 billion in the next five years.
MBA in Health Care Management
Health Care Management Industry, it began from the USA and came across various countries. It focuses on the core operations of the pharmaceutical sector, hospitals, and different health and life insurance organizations. Health care management focuses on critical administration problems faced by hospitals and other health organizations in the health care sector.
MBA in Operations management.
Operations management consists of all the processes which are executed to minimize the cost of productions of goods and services and to deliver the high-quality product and services at a reasonable price. It’s somewhat similar to logistics management but its a broad concept than logistics management. Companies are demanding the professionals with this specialization.