The Complete Guide To Setting Up Your MBA Today
A Master’s in Business Administration degree has many facets when it comes to specialisations and programs. Find out what these are.
MBA: What Is It? The acronym MBA stands for Masters in Business Administration. Students pursuing this degree strive towards attaining proficiency in the fundamental disciplines of business, with majors spanning the fields of finance, marketing, economics and human resource management. Typically it takes up to two years to complete the MBA.
Areas of Specialisation
MBA in Marketing
This specialisation presents students with progressive and ambitious career options. Students of the MBA in marketing learn the concepts of advertising and the varying degrees of consumer and market behavior. Upon the completion of this degree, graduates are equipped with the skills to help an organisation meet its target and grow. An MBA in Marketing leads to employment opportunities in the roles of marketing manager and director, brand and product manager and market research analyst.
MBA in Finance
Perhaps the most sought after and aspired field that many go-getting individuals want to venture into. This MBA specialisation delves into the subject of Financial Management. It further focuses on the core areas of costing, budgeting, corporate finance, hedge funds, derivatives, and financial and credit risk management, enabling graduates to work in banking institutions, for the Stock Exchange and financial departments of numerous organisations.
MBA in Human Resource Management
This specialisation is for the individuals looking to partake in the company’s HR strategies and policies. Here the focus is on dealing with the work force and managing the recruitment aspect of the organisation. Employees are the backbone of a well-functioning organisation therefore along with having a reputable degree, aspiring HR hopefuls need to possess certain interpersonal skills such a compelling personality, the ability to negotiate with a diverse labor force and good communication skills.
MBA in Project Management
With globalisation increasingly becoming a corporate norm and businesses crossing borders, efficient project management has become a necessity. This degree allows you to specialise in business analysis, assembling a corporate team and research and development. Industries like construction and architecture are always in dire need of such skills.
MBA in Entrepreneurship
An MBA in Entrepreneurship grooms individuals who are looking to set up their own business. Students of this degree get a chance to hone their leadership and critical thinking skills which is imperative when it comes to sustaining the longevity of their business in today’s dynamic and fiercely competitive business environment.
Types of MBA Programs
The full time MBA requires students to engage in intensive studying and devote around two years to earning their degree. Graduates have to be fully dedicated to their education which leaves them with little time to take up work or for recreation.
These are normally a year long. Participants opt for additional classes with little breaks in between semesters, usually with the aim of finishing the degree within a year.
This typically takes longer than the usual MBA and is more suited for people looking to work while studying. This may take longer than a full time MBA but allows for a flexible timetable that can be structured around an individual’s work or personal life.
Executive MBA (EMBA)
This is for people who have garnered a few years of work experience, normally business executives. It allows flexibility as participants have the option of taking part-time classes and studying without taking a break from their job.
People might have varied interests and wish to pursue them academically. This allows students to combine and specialise in two disciplines of their choice.
If you found this blog helpful, you may also want to read our blog, Is an MBA Right For You?