Master In Business Administrations- popularly known as MBA is not just a course to achieve a degree it has multifaceted advantages in one’s career. It also assists to elevate your career graph to the next higher level in a management hierarchy. An MBA program is a two-year course which aims to hone skills in various management subjects and enables one to become an Industrialist expert.
During the span of this two years course; in the first year you will be given a brief introductory session about the various management subjects. While in the second year of the degree, each individual will have to choose a specialisation in MBA. It is a difficult process for students to choose a specialization course out of the myriad of available specialized courses. It is vital to analyse this decision from the perspective of one’s career growth and professional development before finalizing on a specialization.
The business world-domestically or internationally is constantly changing, and being an entrepreneur one must know every aspect of management.
Additional Reading: Find Out More About GMAT
Modern Business Specialization
Business economics is a study of applied economics. It enables the individuals pursuing this degree to think out of the box, create sophisticated strategies and achieve success in challenging situations. This specialisation focuses on economic variables, from employment or inflation to fiscal policy and mastering them. There are a lot of useful information which you will study about like -economic forces that impact business, monetary and fiscal policies, employment and inflation etc. One can pursue careers in business, government or any industry on completing this particular specialization of MBA degree.Such individuals will take on roles at executive levels or positions as economic analysts, business development associates etc.
Finance and Accounting:
It deals with teaching in Financial Accounting, Managerial Accounting, Corporate Governance, Corporate Finance, Capital Markets (including equity, fixed-income securities and derivatives), and Financial institutions and services (including banking and insurance). F&A guaranteed an excellent career stability; it is ultra dynamic in nature as it offers a wide amount of job availability and security to students graduating with this degree. The graduate student may work on the job profiles like Chief Financial Officer (CFO), treasurer, controller, and purchasing manager, whether it’s in a bank, accounting firm, government agency, investment firm, large corporation, or small business.
Cultural or geographical boundaries can’t restrict business processes. Hence global management caters to a large number of opportunities to trade globally. It fosters the entrepreneurial qualities to tackle multinational business and gives a unique identity.
Human Resource Management:
Human resource is the backbone of any industrial organisation, it can make an organisation or break it. It is the most popular and common area of specialisation, it ensures an enduring relationship with employees. It hones the graduate student’s skills in talent acquisition, legal requirements, benefits compensation. The HR is also entrusted with – addressing employee grievances and helping to resolve the same, conducting job evaluations and job analysis, organizing training sessions.It hones the graduate student’s skills in talent acquisition, legal requirements, benefits compensation, handling the interview process, hiring of new staff and recruitment activities, appraisals, intimating candidates about their job responsibilities, payroll management, the benefits, schedules, promotions, professional development.
Marketing is an important activity for any flourishing business. It is the most challenging area of specialisation as it combines the customer requirements, brand promotion, research and much more. It sharpens your creative cult. You will be entrusted with the key responsibilities of analysing and understanding which products the consumers will want the most and what the current market trends are. Planning campaigns, forming budgets and handling the staff are some of the other responsibilities which the Marketing managers will have. Marketing managers will also be accountable for the execution of several marketing plans to help the organization grow.
Choose your specialisation wisely and give an edge to your career. Good Luck!
BYJU’S will be glad to help you in your GMAT preparation journey. You can ask for any assistance related to GMAT and MBA from us by calling us at +918884544444. You can write to us at firstname.lastname@example.org.