Hi MBA aspirants. In the second year of the MBA programme we have to select the area of specialisation. A basic introduction about the various areas of specialisation is given below.
Sales and Marketing
Marketing as a function is considered to be the most important for any business organization. Marketing professionals thus play a very important role and are the backbone of the organization. Students who choose to specialize in marketing will focus on how to acquire customers and promote their products/services. This path can be very attractive for students who have characteristics like communication/ presentation skills, convincing skills and an extrovert persona by nature.
Marketing Curriculum - Students who specialize in marketing usually take courses that focus on advertising, merchandising, branding, sales & distribution, research, statistical analysis etc. Most marketing programs make in use extensive case studies along with the theory. this helps in better understanding of the subjects.
Working in Marketing - The type of job that can be obtained after graduation from a marketing program will depend upon the industry you land up in. Some of the most popular occupations in the field include marketing manager and marketing research analyst. For more on where all you can land up after marketing specialization.
Taking up challenging jobs, interacting with people, if you like extensive traveling, and if you have good communication skills, this course would excite you. If you opt for this specialization, you would typically start your career in sales and move into marketing after one to two years. The job of a marketer is to identify and satisfy consumer requirements.
Finance
Finance is another very important function of any business. The business major who specializes in finance will find opportunities in almost any industry.
Finance Curriculum - Students who study finance will focus on accounting, financial management, mathematics, statistical analysis, economics, and ethics. There is more to finance than accounting, and will require the development and use of critical thinking, as well as problem solving skills.
Working in Finance - After post graduating from a quality finance program, one should be able to secure at entry-level employment with banks, investment banks, brokerage firms, insurance companies, corporations, and a variety of other organizations. Possible job titles and profiles. In finance industry Certified financial Analyst (CFA) is one of the most respected certification. As most of the MBAs in India lack work experience and formal training in finance CFA gives them a fair exposure into the industry.
MBAs aspiring to work with Investment banks, Asset management companies, KPOs as business analyst or financial analyst then the CFA would be beneficial. Specially, if you are an engineer, or have worked in a non-finance field, then the CFA designation would probably be the best thing to consider if you hope to break into the industry. The earlier you start preparing for CFA level, easier it would be for you to grasp the concepts and apply it your work. If you love numbers, if you have the analytical bend of mind and if you are an efficient decision maker, then finance would interest you. You would primarily be dealing with money in this function – like raising money for a project, managing surplus money, working capital, budgeting, cost control and like wise.
Human Resource Management
Human resources has become an essential field in the business world as more and more companies realize the impact a human resources department can have on the bottom line. Some of the duties human resources professionals perform include hiring, firing, interviewing, recruiting, benefit management, and various clerical functions.
Human Resources Curriculum - Business majors who specialize in human resources usually focus one of two academic paths: generalization or specialization. Generalists will take general human resources coursework, and specialists will focus more on a specific area such as employee benefits management or arbitration. Students who are enrolled in almost any human resources program can expect to take courses like strategic planning and employee health and safety.
Working in Human Resources - After completing a quality human resources program, business majors should be able to find work in virtually any industry. Some positions will be easy to obtain immediately upon graduation, while others will require some work experience in the field.
Human Assets is best resource with companies. Here you would be managing the most important resource of any organization, i.e., the employees. In case you are a people's person, a good listener and a good motivator, then this perfect for you. You will be looking after recruitment, training, appraisals, compensation and employee welfare.
Operations
MBAs with a specialization in Operations can have a number of career opportunities available to them. They are well prepared to work in industry as project managers, supply chain analysts, logistics planners, or as managers of manufacturing or service operations. Consulting firms also value the analytical skills that are developed, particularly in the area of supply chain management.
An operations specialization can be particularly valuable when combined with skills in marketing or finance. MBA in Operations can lead you to three best available ares: · Supply Chain Management · Process Management in Service industries like Banking, FMCG Manufacturing & Production The MBA in Operations is focused on providing students with decision-making skills that will enable them to be leaders in today's information and technology intensive global market environment. This flexible specialization takes a strategic and application-oriented view of operations.
Life after MBA operations:
Consultant: Needs to be well acquainted with a broad set of analytical tools and frameworks for identifying and assessing the trade-offs in major business decisions. In India most of the big consulting firms are doing operational consulting.
Supply Chain Manager: Needs to be able to evaluate issues related to inventories, logistics, outsourcing, and channels of distribution. Analytical skills are extremely important for doing this. This profile requires a solid set of analytical tools and strategic frameworks for analyzing decisions in a supply chain setting. Manufacturing Manager: Needs to be able to design and operate processes that support the value proposition of the firm. This profile requires many of the same skills as a supply chain manager, but with a slightly more tactical orientation.
General Manager: Needs to understand how the role that operations plays within the overall strategy of the firm. This profile provide a high level perspective on processes related to creating and delivering physical and service products.
Domain Experts: Needs to understand how the business of their domain runs. This is a sort after profile offered by most of the IT companies.
Managing operations in IT, Banks & Manufacturing companies like cycle time reduction, efficiency increasing is your cup. then this specialization would blend remarkably with your persona. You would typically be dealing with different flows, which could be manufacturing processes, vendor development, and efficiency of the organization.
Systems
IT is making its presence felt. If you have a computer science or software background, the ability to see the larger picture and your basics are analytically sound, then this is the best specialization. Systems Manager improves the efficiency of operations and monitors domains like sales, customer service, accounts, cost control.
