Before knowing the top MBA specializations in India, let us first understand what is MBA? MBA is also known as Masters of Business Administration which is a management course. It opens the doors to a variety of job options and also provides people the opportunity to test their skills and knowledge of business by becoming entrepreneurs and starting their own businesses. Students from all fields and courses can do MBA and that is the kind of diversity the course provides. It is open to students from different fields – from humanities to engineering to medical, all of them can do an MBA to further improve their skills and learn the art of management. The course enables the students to learn leadership skills, communication skills, problem-solving, analytical thinking, eye for detail, multi-tasking, to handle pressure, mathematical skills, and so on. The course offers students a wide variety of programs to learn from and that is why a full-time MBA(Top Colleges In India) is more popular amongst students and amongst those people who have some work experience. The full-time MBA course includes internships, theory, and practical classes.
Top MBA specializations in India are
1. MBA in Marketing Management
Doing MBA in Marketing is very popular in India. Marketing is a very important aspect of any business, and without it, businesses cannot sell their products. The tricks and techniques to woo the customers are very important in any business, and in this specialization, you learn those techniques. It helps you understand how the market functions, the insights about it, and how the customer behaves according to the market. Marketing is indeed a vital part of every business – from any small scale business to the big Multinationals, all of them need marketing to boost their business profits and to create goodwill in the market. A good marketing approach helps create a good image of the company and get the desired reach of the general public, which further helps in getting the sales numbers and profits for the organization. Not just it helps in quantitative sales but it also helps in generating confidence in the public and the employees.
So, doing a Masters in Marketing is not only exciting but also teaches business adaption according to customer shifts.
2. MBA in Finance Management
After Marketing, Finance is one of the most popular specializations among students. Students who want to indulge themselves in the accounts and the finances of the company choose this specialization to learn more about financial objectives. The program helps the student understand the various terms and the concept of finance, like, risk management, asset management, financial planning, etc. The students that benefit the most from this course are those who have good financial acumen and the ability to analyze numbers. This course makes them deal with the stock market and ensures that they understand the most important financial models used globally for analysis. Jobs after specializing in Finance management help the student convert their theoretical knowledge on finance to practical experience in the real financial and trading world. The introduction into the finance world is the dream for some and can be a nightmare for others, as it is not easy to achieve the expectation the company might have from you.
It is undoubtedly one of the most rewarding careers as well and for people who love numbers, it is like their dream come true job
3. MBA in Operation Management
Operation Management includes planning, organizing, and supervising the production, manufacturing, or provision of the services. The specialization in operation management ensures that the person becomes eligible to make the organization function in an effective and efficient manner. Understanding the logistics and supply chain management comes in handy at various business levels. It is often said the person who understands these two things perfectly in the operations unit, will be one of the best the company has. The MBA in operation management helps to know the global perspective on the industry trends and makes the person aware of the distribution/ warehousing policies, financial regulations, and the political uncertainties that might hamper the growth of the entire business. To be able to manage the risk well, getting to know the complexities of running the business, and making sure the operational efficiencies are enhanced, are all a part of the course and would be focused upon the most during the course.
This course helps the student understand the globally-connected businesses and develop the required skill set needed to widen their knowledge for the success
We have more in the list of Top MBA specializations in India and they are as follows
4. MBA in General Management
The confusion as to whether do MBA with specialization in something or to go for General Management, which is also known as MBA in GM, confuses a lot of people. But the outcome that connects all is the return they get after doing an MBA, either in GM or with any specialization. The people doing an MBA in general management explores various subjects of management. Students learn essential skills like business management, critical thinking, the art of conversation, leadership skills, etc. The course curriculum is divided in a way that in the first year, students learn the overall aspect of the management and in the second year, the students choose between the various electives they wish to study. The elective subjects are chosen by the student in such a way that it gives the student a perspective of every specialization. Students prefer to do it because its scope is not just limited to any industry.
It provides diversity in knowledge and this makes a few students more comfortable rather than gaining insights to only one specialization.
5. MBA in HR
MBA in HR or Human resource management is a part of Top MBA specializations because it focuses on recruitment, and career assistance/ guidance to the people who are working in the organization. The name itself suggests that is something to do with the people and this is exactly true. People who have a degree MBA in HR offer training and knowledge sessions in managing the workforce of the firm. HR subjects are one of the most important aspects of doing an MBA and this is why it is included in General management as well. In a study, the size of the Global Human Resource Management market is also expected to grow at a CAGR of 11% from 2019 to 2025. There is a lot of scope in this MBA is why most people prefer HR over other specializations.
People having this degree are equipped to perform training, administrative services, talent management, and provide legal/ management advice that organizations need for smooth functioning. The scope of this type of MBA is not just limited to recruiting and training new employees but it has widened its horizons by including the HRs in strategic planning, for effective decision making, or handling situations related to mergers. Nowadays, it has been observed that every organization has its own culture. HRs play an important role in creating that culture and making the work environment suitable for everyone. One of the most important places, where HR plays an important role, is to ensure that the mission and vision of the company are being known to every employee.
6. MBA in Strategy Management
The world of business is very complicated, dynamic, and competitive. To stay ahead in business, the company needs to have the right team working with the right strategy to get success. Nowadays, the demand and supply of the product or service are not just restricted to one country because Globalization has paved the way for businesses to grow immensely and offer their products or services worldwide. For the same, MBA in Strategy Management is for the people who like to form strategies and tactics and enjoy that adrenaline rush that competition gives them. MBA in Strategy can be defined as the degree that equips people with the knowledge of managing the resources of the organization in order to meet the company’s goals through planning, oversight, monitoring, and analysis.
The role of a strategic manager is to research the business environment, understand the organizational culture, identify benchmarks, to realign resources to meet goals, position leadership for oversight, etc. A person is considered to be a good strategic manager if he or she has the characteristics of having a tactical mindset and a varied skill set that helps the person to make plans and take actions. A person with good leadership qualities with analytical thinking makes up for a good strategy manager. The reason it makes to the list of Top MBA specializations in India is because of the importance of this course in the Industry.
7. MBA in IT
MBA in IT or Information Technology is widely accepted amongst those who plan to be a part of a big internet community. The list of Top MBA specializations can’t be completed without this one. MBA in IT offers a great understanding of management combined with the internet, social networks, security protocols, and e-commerce functionalities. The course is suitable for people who want to have a solid base in management while building an extensive knowledge of the IT sector. The person who loves to stick to his or her computer should definitely go for this course as it can also act as an add-on to programming, software development, and software engineering skills.
There are some mandatory skills set that the individual must possess before going for MBA in IT and they are, computer & digital literacy, technical writing, information technology, project management, data management & analytics, flexibility & foresight, office skills, data mining & coding. These are the skills that are considered essential before going for IT specialization as it will smoothen the process of learning the subject.