It is that time of the year again when the admission results for business schools across the country are being released, and for all aspirants, this is a huge step in the career. While an MBA is a huge platform of opportunities, choosing the right specialization and domain can be a momentous task. With options rolling in from different organizations offering up different job roles, it is imperative to make an informed decision about it since it is seldom easy to change your area of specialization once you have already committed to it. So How to choose MBA Specialization? Below are some of the common MBA specializations:
- Consulting basically deals with excellent problem-solving skills wherein companies would often recruit to come up with business solutions for their existing difficulties. Consulting has a very wide outreach and penetrates into almost all levels and kinds of businesses. Lucrative options for those are adept at problem-solving.
- Business analytics, as the name, suggests deals with the collection of data and deriving analysis from it. Companies deal with a vast amount of data in their day to day lives and data requires quite a bit of reorganizing being fit for consumer surveys and for predicting trends.
Finance and Banking;
- Like the name suggests finance and banking are all about dealing with financial matters, financial records of companies, budgeting, investment portfolios, cash flows and not to forget the infamous investment banking. Finance does require one to have a good grasp of certain skill sets like statistics and few data tools.
- Marketing involves the design, creating, revamping, and launching of products for companies. Marketing plays a very vital role in all organizations. Marketing also involves facets such as brand management, advertising, public relations management, etc. Marketing demands a lot of creative prowess and imagination to launch something unique every time to catch the consumers’ attention.
- Operations management deals with the entire supply chain of a particular business establishment. Operations and logistics can be found in almost all organizations, especially with e-business getting more popular by the day. Operation management focuses on improving efficiency and effectiveness.
- Just as the name suggests, it is a top tier management role which is basically responsible for the functioning of the entire company. Strategy requires a high level of experience and skill when it comes to making decisions. The strategy is a lucrative long term career goal for the future.
IT Solutions and Management:
- With most major businesses going online and acquiring a huge customer base over the internet, IT, needless to say, is essential for the smooth functioning of any company. Most companies need assistance to host their servers and carry out transactions online. Cybersecurity is also a booming stream in this sector.
Human Resource Management:
- Human resource management is essential for each and every organization that has a large number of employees. Human resource deals with matters like remuneration, employee benefits, laws within the companies, training and learning programs, etc. Human resources act as a major source of intermediate source between the employers and the employees.