MBA is a vast degree that consists of various types and specialisations, making quite a hindrance among students while applying for the program. Choosing the correct type of MBA and specialisation is essential. For doing so, you need to be aware of all the subject specialisations available in MBA. Here are the various MBA specialisations offered by most of the foreign universities:
Specialised MBA programs
Specialised MBA is a specialisation course in finance, International Business, Human Resource Management, Marketing, Operations, etc. These MBA courses are designed to fulfil the requirements of a specific industry or a specific section of an organisation. Candidates with a Specialized MBA will be preferred over candidates with a General MBA for many businesses. And it usually takes less time to complete. These courses can be of 1 year or 18 months duration.
Types of specialised MBA programs:
MBA in Marketing
Marketing MBA includes general business courses; it emphasises developing your marketing-related skills and knowledge. Typical subjects include Marketing Research, Branding, Advertising Management, Product Development, Digital Marketing, etc. You’ll learn how to promote products and services, design and execute marketing campaigns, and communicate with customers—skills that one can apply across marketing and sales roles at B2C and B2B companies. The prospective student needs excellent communication skills, an undying zeal to excel in marketing and resource mobilisation skills. This takes 1-2 years to complete.
MBA in Human Resource
Human Resource Management is one of the most popular MBA specialisations. It helps you to gain a better understanding of business administration, strategy, and other business-related subjects. This specialisation includes diversity, labour markets and emerging economics, mergers and acquisitions and international leadership. If you have good communication skills, are social, have a good personality, and are dependable and confident, then MBA in Human Resource is for you. MBAs in Human Resource Management take 1 or 2 years to finish.
MBA in Consulting
MBAs in Consulting combine traditional business courses with classes on Business, Strategy, Organizational Behavior, Business Communication, Consulting, Negotiations, Ethics, and others. This specialisation helps clients manage their companies more successfully. This approach allows students better to understand the impact of business dynamics and human relations. Consulting MBAs are a great fit if you enjoy verbal and written communication and the know-how to evaluate actions and provide feedback.
MBA in Entrepreneurship
One should generally opt for this specialisation if they plan to run their business take charge of a family endeavour. Entrepreneurship MBAs also include classes on Business Innovation, Generating Start-up Ideas, Venture Feasibility, Sustaining a Start-up, Resource Management, Entrepreneurial Strategies, and Product Design and Marketing. However, there are roles which you can get hired for in other companies such as Management Consultant and Senior Product Manager.
MBA in Finance
This specialisation is suitable for business students who prefer to focus on finance. You’ll study statistics, analytics, accounting, and more. An MBA in finance prepares you in various subjects like budgeting, costing, International finance, Capital Management, along with traditional business courses with classes on Fund Management, Investments, Fundraising, Portfolio Management, Corporate Budgeting, Investment Analysis, etc.
MBA in International Management
This specialisation focuses on helping students understand how international/multinational organisations need to adapt their approach to different countries and markets. This specialised MBA in International Management is perfect for business students who intend to work abroad or at multi-national companies. It provides an in-depth understanding of organisational competencies required by the students for international operations, including specialised functions such as global marketing, import-export laws, finance etc. This degree is not like other MBA degrees where you study general subject first and then select a specialisation. From the first day, the focus of all topics is on international business.
MBA in Operations Management
A specialised MBA in Operations Management focuses on planning, organising, and managing production to maximise efficiency. MBAs in Operations Management develop the students’ analytical skills and teach them how to use mathematical models and systems. This specialisation covers Business Analytics, Mathematical Modeling, Data Logistics, Analysis and Interpretation, Operations Strategy, etc.
MBA in IT or Technology Management
A specialised MBA in IT or Technology Management focuses on UX, design, and the flow of information technology. It educates and develops potential managers who effectively manage the planning, design, implementation, selection, usage and administration of information and communications technologies. Some prior knowledge about the IT industry is required to pursuing this specialisation.
MBA in Engineering Management
MBAs in Engineering Management teach students how to make better business decisions while considering engineering concepts, practices, and systems. Students learn how to compare different engineering solutions, evaluate risks, and implement solutions that improve the performance of organisations from highly technical engineering areas. You study subjects like Innovation and Leadership, Research Strategies, Performance Measurement, Manufacturing Methods, Product Development, Experience Design, Systems Lifecycles, etc.
MBA in General Management
MBA in General Management is the most common MBA program. It teaches you skills like critical thinking, problem-solving, and risk management. Some of the subjects taught are Professional Development, Business Analytics, Project and Quality Management, Marketing Management, Economics for Managers, Organizational Behavior, etc.
1. How much can one earn after getting an MBA Abroad degree?
One can earn from an approximate range of a minimum of INR 40 LACS. However, the salary depends on the role you are hired for.
2. Are there various types of specialisations available abroad for MBA?
Yes, international countries have various specialisations of MBA to choose from, and some of them are Marketing, Finance, Supply Chain Management, Project Management and Human Resource Management.