HOW TO CHOOSE THE RIGHT SPECIALIZATION IN MBA
The world of management education is filled with a variety of choices, which makes a student really confused in deciding which is the right specialisation for them. While making a choice on specialisation one has to answer a variety of questions like Is they capable of managing the job in that area of specialisation, will it fulfil their career goal, is this the right choice that helps them to be successful in both personal and professional life etc. Now let’s discuss how to choose the right specialization in MBA.
In MBA two factors will make a huge impact after you complete your course that is
1) The institution you opt for MBA studies.
2) The specialisation you choose.
Many MBA students are in the world of confusions regarding the specialisation in the first and second semester. Even the students who made choices already about their specialisations before entering the MBA course may get confused while seeing the variety of specialisations the institution offers.
All the future depends upon how brilliantly you make your choice among the variety of specialisations. While choosing you have ensured is this my cup of tea or not. If you made the wrong choice that will definitely affect your academic performance and your future career.
The institutes offer a variety of specialisations. Some of the important specialisations with high job demands are
- Human Resources (HR)
- Operations Management
- International Business
Finance is dealing with how to manage the money efficiently for the smooth flow of business. Finance is an important and major requirement for any business and that brings the scope and demand for finance in a high position. finance deals with the areas such as Portfolio Management, Investment Analysis, Derivatives, Banking, Financial markets and Services, Budgeting etc. some of the jobs offered from finance areas are:
- Portfolio management
- Hedge Funds
- Credit Risk Management
- Mutual Funds etc.
It is the process through which the goods and services of a variety of companies are reaching to their end customer. It is the process through which the product and services are made available to the customers according to their convenience. Marketing is the best way in which the customer will get to know about the company product. It’s a major tool to withstand all competitors. There are 4P’s in Marketing they are 1) PRODUCT 2) PRICE 3) PLACE 4) PROMOTION.
In an organisation, the marketing department mainly deals with the activities like attracting more customers, increase sales, increase market share, increase profit etc. for an MBA student who opts Marketing will get to know the following areas like social media marketing, digital marketing, retail management, consumer behaviour, market research etc. some of the jobs offered from this area of specialisation are:
- Sales Manager
- Marketing Analyst
- Sales Executive
- Social Media Marketer
- Advertising Executive etc.
HUMAN RESOURCES (HR)
It is the specialisation which helps to be efficient in understanding how to acquire, manage and retain the human resources or workforces within the organisation. As employees are the most important assets in an organisation its really important to manage them and make them satisfied. A student who opts this specialisation has to deal with recruitment, selection, training and development, compensation, safety and health etc. HR plays an important role and have wide job opportunities. Some of the jobs offered from the HR area are:
- Training and Development manager
- Compensation Manager
- HR Generalist
- Staffing Manager
- Technical Recruiter
- Recruiting Specialist
- HR Executive
It is mainly concerned with the inventory management, purchase management and the organisation’s resource planning. In an organisation OM deals with the process of delivering the value to its customer. While delivering to its end customer they improve the productivity, quality, cost etc. Students who opt this specialisation has to study supply chain and logistics management, project management, operations strategy, supply chain analytics etc. Even though OM originated from manufacturing industry now it has wide scope in all industries including the IT sector, telecom etc. some of the following jobs OM areas offers are:
- Project Manager
- Sales Operations and Production Manager
- Supply Chain manager
- Warehouse Manager
- Procurement Manager etc.
This course makes you eligible in dealing with international business matters across the globe. It includes the trading of goods and services, technology etc at the global level. The present era is the world of globalisation and liberalisation which opens the window of a huge expansion of business world-wide. By taking this specialisation helps you to deal and expand your business into international markets. The students opt this specialisation has to study international trade laws, international marketing management, international finance, international HRM etc. Some of the jobs offered from this area of specialisation are:
- International Business Consultant
- International Brand Manager
- International Finance Manager
- International Marketing Manager
- Import Export Manager etc.
There are other varieties of specialisations many colleges offer. The above specialisations are with high job demands. So, keep in mind that the two things you choose that is the institution and the specialisation which will be staying along with you throughout your life and the specialisation you made that will make you eligible to work on a certain area. So, it is clear that your choice on specialisation will determine that for which all jobs you are fit. So, by making a right specialisation make yourself worthy candidate that enhance your professional and personal life. Certain points you need to discuss on how to choose the right specialization in MBA are discussed below.
HOW TO CHOOSE THE RIGHT SPECIALIZATION IN MBA COURSE:
KNOW YOUR STRENGTHS
All students are blessed with some inborn talents and this can be called as personality traits. It may not be the same for all the students that mean the ability to manage certain things differ from student to student or from person to person. You should have a clear idea about your capacity and in which all areas you are good at, which help you to achieve your career goal.
So, one has to analyse the strengths and in which all field you are good at. based on all this you have to make a choice of your specialisation that college offer you. Be specific to the specialisation that will make you unique and excellent in that area. The specialisation which in future bring you a job which you can manage efficiently and provides you with a successful professional life.
FOCUS ON YOUR LONG-TERM GOALS
All professional has both long term and short-term goals. But while making choice on your specialisation you have to focus on your long-term goals. The specialisation is one thing that determines in which all jobs you are eligible to do. So, it means your entire career and future determine on the specialisation you made.
In long term goal, it includes the top position you aim to reach, your individual business plan, your career growth, savings, job satisfaction etc. So, all this will be satisfied only if you choose the right specialisation which helps you to be excellent in that area. All you have to focus on is that it’s not for the short term, you have to choose the specialisation by looking for your capacity and long-term goals.
NUMBER OF COMPANIES
While making the choice of your specialisation make sure that the companies visiting your college have a high demand for that specialisation. If you choose a specialisation with low job value and no demand from the company’s part coming for placement in your college that means you are making a black spot in your future. So, while making the specialisation check the current value that the job has and the demand for the job in this present scenario. The demand the company gives is really important.
KNOW THE ALUMNI
Before making the choice collect information regarding the teachers who teaches the respective subjects. Check whether they are experienced enough and has the capacity to manage the subject and provides you with wisdom and knowledge efficiently. Collect information from your seniors who opted the same specialisation you are looking to choose that will help you to gain an overall criterion followed by the teacher in that course, their experience from that teacher etc. also by contacting seniors will help you to gain an idea on exam mark scheme, job opportunity, companies demand etc.
SUBJECTS IN SPECIALISATION
Subjects inside the specialisation matter a lot. The subjects included in the specialisation are required to study by choosing that particular specialisation. So, collect information regarding all the subjects and check whether you will be able to manage it or not. Ask your consent teachers and seniors to gain in-depth knowledge. Also, ask suggestions from persons who are experienced and well established in the business area. After all, this decides whether it is right for you or not. If you are not from the same stream on subjects in a particular specialisation it will be hard for you. It’s really important not to make arrears in your professional course. So, while making choice along with the specialisations the subjects inside it demand a lot.
MARIAN INTERNATIONAL INSTITUTE OF MANAGEMENT, KUTTIKKANAM
MIIM is one of the top MBA colleges in Kerala with NBA accreditation. College provides a variety of specialisation like HR, Marketing, Finance, International Business, Operations Management, IT. College is equipped with the most modern facilities in teaching. MIIM provides you computerized classroom along with Internet connection for students in each and every corner of the college. MIIM provides you with the best teaching faculty who are well experienced and excellent. In each and every subject and specialisation faculty will give their 100% to make you successful. To have in-depth knowledge and excellence in your specialisation join Marian International Institute of Management, Kuttikkanam. For admission in MIIM please click on the link below