Master of Business Administration or MBA for short is one of the most popular masters degree courses all around the world. It is a two year or four-semester program and comes in many variants. There are four main types of MBA they are full-time MBA, part-time MBA, executive MBA, and dual MBA. But, whichever type of MBA one chooses, the subjects taught are almost the same as the MBA is designed to create professionals who can manage businesses effectively and take managerial decisions and also have good communication skills. In the two years, of course, specializations are also a crucial part as they define the type of MBA professional one wants to become. The specializations range from international business to marketing and are offered by a lot of colleges and universities worldwide.
The MBA curriculum is split into Four Semesters.
- The first year is aimed at teaching the basics of economics and communication skills while the second year focuses on specializations and giving experience to the students by projects and internships.
- The first semester teaches topics such as principles and practice of management, managerial economics, accounting, and financial analysis, organizational behavior, marketing management, etc. which focus on the basics of economics and management.
- The second semester comprises of topics such as business environment, operations research, business laws, research methodologies, financial management, etc. which advance upon the first semester topics and also include laws.
- The third semester is the most crucial part as here is where subjects start to be more management centered and offer specializations. Here, topics such as supply chain management, strategic management are taught along with the specialization courses and also a summer training project.
- The fourth semester focuses on closing off the topics by providing more connection between all the learned topics and also focuses on ethics and laws related to management. Here, subjects such as entrepreneurship development, values & ethics, and also specialization subjects are taught.
Although the curriculum may slightly differ from college to college, the structure remains the same. The two year MBA courses teach you Marketing, Management, Finance, Operations, Aptitude, Ethics, Law, Strategic Management, etc. By the completion of the first year, the student is expected to have an idea of which specialization to choose from many options. Human resources are also an integral part of MBA and MBA professionals also sometimes take up the jobs of HR representatives for companies worldwide. The important thing about an MBA is that it is a universal degree and hence wherever one goes, their MBA will be valid to take up a job. MBA is crucial for both business professionals and working employees alike. An MBA has the potential to increase the salary of already working professionals. For the sake of working employees, executive MBA courses are created so that the employees can concentrate on both MBA and their work without much hassle. A part-time MBA is also taken up by some. Full-time MBA is taken up business professionals who want a career only in management. Specializations are key in MBA and one must always research the available specializations before enrolling in any MBA course.