A Master of Business Administration or MBA, as it is popularly known, is a highly valued degree designed to develop the skills required for careers in business and management. Attaining an MBA allows the student to learn how to successfully manage, lead, organize and adapt in a variety of business environments. The skills learned through an MBA program prepares one with practical skills as well as theoretical knowledge that he can use to further his business aspirations. An MBA can translate one’s raw potential into great opportunities. Most MBA programs have a main syllabus of subjects, such as accounting, economics, marketing, and operations, as well as optional courses that permit applicants to pursue their individual private 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.
MBAs are presently the most popular professional degree in the world which is recognized internationally. There are as many as 2,500 MBA programs accessible worldwide in a mixture of languages, majorly in English. Nowadays in the corporate world, this degree has been recognized to be a necessity for individuals to get promoted to the top management levels. Millions of students worldwide are reaching out for this degree in order to gain corporate success in the future. This course prepares students to become strategic leaders and even inculcate in their minds the sense of managing businesses.
Some of the most common MBA specializations are:
An MBA in accounting is, for the most part, one of the most popular MBA courses in India. The course offers an individual with diverse prospects across the world as it stresses upon increasing skills that are extremely significant for the function and control of the accounting information systems of any company. The course can be pursued as a full-time or a part-time degree. Students who have an undergraduate degree in accounting or commerce as well as those who do not belong to the commerce background can submit an application to the full time MBA courses conducted nation-wide.
Human Resources Management
Human Resources are a field with huge potential. It deals in several aspects of the implementation of an organization. An MBA in HR will perfect the skills of an individual and he can master the field by learning the topics that are applicable to corporate headhunting, reimbursement management and industry education. The HR program in MBA will coach subjects like managerial growth, commerce investigation and employee staffing. An MBA in HR is a benefit to all of those looking for a triumphant time at the corporate level.
Finance is an integral part of any organization and generally is done by the math and account wizards. MBA in finance will perfect the student’s accounting skills by inculcating teachings that sharpen their existing skills set. Most 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 organizational roles in economic corporations, industries providing healthcare and even the offices of the government. Students study about all aspects of commercial finances such as conducting analyses, running portfolios and increasing business strategies.
A degree in marketing prepares the student 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 for the student to lead his way towards higher positions, increased salary and better career opportunities in a variety of fields. This MBA course trains him to build up a range of business skills which can be functional and transferrable to new business arenas.
An MBA in Economics is one of the most flexible management courses which teaches an individual the ground rules of monetary decision-making and focuses on different realistic aspects of business & commerce. It aims to build up an eloquent mindset in individuals to make best use of the potential of any business. An economic graduate will be able to set up a business in sight of the home market and foresee its expansion and developments keeping in mind both the local as well as international market standards. Almost all of the jobs that appeal to graduates with an Economics MBA degree are those that involve a lot of decision making and managerial roles. This degree imparts academic information which can be put to realistic use in roughly all aspects of business.
The following lists out some of other fields that one can also do an MBA in:
After pursuing an MBA, students often can choose from a variety of options. They can pursue regular jobs as company managers by getting campus placements or they can chose to become entrepreneurs managing their own businesses. The best possible career options for MBA graduates have been talked about below.
This is the most popular career that a person can pursue after MBA. It also enables a person to rise to power as long as they provide good investment advice. For this job a person needs to have a Finance specialization in their MBA fields. In fact, this job requires a person to put forwards all of his basic knowledge and skills that he has earned during his MBA course like knowledge of money, accounting and business management.
Nowadays, the number of investors who are into buying new businesses has increased. These investors rely on quality advice regarding the choice of businesses to invest upon. The role of the venture capitalist thus is to guide these investors into investing properly into the right kind of businesses. This can be a self-sufficient profession and if MBA graduates with a Finance background pursue this career path, they can make a massive sum of money by providing useful and competent counsel to the investors.
Very often, the reason why a person chooses to pursue an MBA is because of his desire to identify, analyze and solve problems. This desire can be fulfilled if the person chooses he career path of an Analyst. The job of an analyst is very specific and requires a person to analyze financial or market trends and issues and figure out solutions. Analysts can be of two types; the first one is Financial Analysts who must possess a MBA specialization in Finance. He has to review current stock pricing changes and predicts future trends. The second type is Marketing Analysts who should have a MBA specialization in Marketing. He is required to review demographics and the success of current or previous advertisements and find out possibilities to create a better advertisement in the future. The scope in this field is high and many people opt for this career path after MBA.
The job of a management consultant or management analyst is very prestigious. In this job, the person is required to advise company supervisors and even CEOs on the different ways in which they can boost their business. The job of a management consultant requires the consultant to travel to his client company, investigate its corporate structure and give recommendations to improve profit. New entrants can initially join as a management analyst and in seven to eight years period can see themselves as a consultant. If a person chooses to be an independent consultant, then he can often expect huge payouts from his clients.
Human Resource professional
Persons who have their MBA specialization in human resource can chose to become Human Resource Managers in their coming years. As the organizations of today mainly rely on people management and workforce welfare, Human Resource area has gained prime importance. Initially students can opt for campus placement in some organization as a Human Resource associate. After a period of six to seven years based on their performance they can attain the position of a Manager in this field.
Studies have revealed that almost 80 percent of the people around the world pursue an MBA with the hope of becoming an entrepreneur. Entrepreneurship is in fact a widely accepted profession amongst MBA pass outs. The freedom to manage one’s own business, earn as much as possible according to one’s own will with no boss present is the desire of almost every individual. However, problems that MBA graduates may face while starting entrepreneurship are getting the start up cash for investment or acquiring customers. Consequently, fresh MBA graduates can initially gain experience in a firm for five to ten years prior to starting a business of their own.
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 train the individual to find a job in a broad variety of business organizations, thus increasing his prospective and knowledge. Whatever jobs MBA students opt for, relevant to their domain, they must first and foremost choose those jobs only in which they think themselves to be satisfied working for. If a person is satisfied with the career path he or she chooses, then success comes automatically. The objective of nearly all the business professionals is to gain a management position, and to efficiently administer an organization in a particular industry.