All about MBA
A masters in Business Management chiefly makes a candidate proficient in all the subjects related to management and an expert in one. In the two years...
I want to do an MBA after my graduation, can you please suggest the latest streams of MBA other than Finance, Marketing, HR, Operations Management, IT, Entrepreneurship, etc.- Kuldeep Khosla, Sikh Village road
A masters in Business Management chiefly makes a candidate proficient in all the subjects related to management and an expert in one. In the two years course for this degree, the first year focuses on giving a brief idea to the candidates about the various subjects of management, and introducing them to the specialised areas. The candidates then have to choose a specialisation, which completely relates to their career goals and professional development. Below are mentioned a few streams of MBA, wherein there is a good career scope.
MBA in Supply Chain and Logistics:
A customer today is considered as ‘king’ and to suit his demands the logistics system of companies has undergone an overhaul. The companies now need a new kind of supply chain/logistics/operations manager and this need has led to the creation of an MBA in supply chain management in Logistics and Operations. This field is a rapidly evolving one and therefore an MBA in this stream broadens one’s career opportunities. One can choose to work in planning and policymaking, motivation, evaluation, product development and inventory control, quality control, process analysis, forecasting, and strategic planning. Supply chain and logistics MBA graduates get to work as general operations managers, responsible for budgets, hiring and training employees as well as equipment procurement and policy development.
MBA in Sports Management:
Sporting events happens in huge numbers globally and this fact has led to a huge demand for Sports Management professionals to plan, strategise and execute those events successfully.
The expanding billion-dollar sports industry has many levels of management, and for an avid sports fan and a serious business student this programme can open doors in a variety of employment options within the sports arena, like director of a sports venue, marketing and events manager, CFO of an athletic clothing company, agent, or recruiter.
MBA in Cyber and Data Security:
Information is the most valuable asset for almost all organisations and its mismanagement can cause lot of damage. Cyber crimes have increased manifold and as per the report of Cisco, the cyber attacks have risen by 14% with criminals targeting intellectual property-rich industries such as pharmaceuticals, mining and electronics. There is a huge demand for professionals in this field who can manage and address policies related to privacy, security, intellectual property and liability issues that companies face.
International Business (IB):
An MBA in IB is equivalent to a normal MBA with additional inputs on fundamental theories and areas of International Business. It is a management degree with particular focus on multinational corporations. It trains the students in various aspects of international business, such as, Export and Import Management, International Marketing, Foreign Exchange Management, International Finance, International Logistics, etc. There are multiple career opportunities in this field and corporate while hiring, naturally give preference to International Business graduates for overseas postings.
MBA in consultancy:
This is one of the popular career options for MBA and a fast growing sector in the business world. Consulting can be divided into three types:
Strategy consulting - involves analysis of growth opportunities, cost reduction exercises or benchmarking products, services or structure against competitors. In addition to advising the senior management on future direction of their businesses, consultancies also provide support in the implementation phase of major projects.
Management Consultancy: covers a wide variety of services from the consultancy arms of the major accounting firms, concentrating on operational and organisational issues, through to corporate identity specialists and executive search companies.
IT Consulting: involves in advising clients on how to take best advantage of new technologies, to change management, to systems implementation and new product development.
Agri Business Management:
With commercialising of agricultural production, adequate production and even distribution of food has lately become a high priority global concern. There is a growing need for professionals, who can contribute to, and engineer, the agribusiness revolution. It has become one of the most challenging and exciting sectors to be in, either as a professional or as an entrepreneur.
The PG programme touches upon areas such as export and import, co-operatives, rural banking, agricultural projects, insurance, logistics, land management, water management and irrigation, and sustainable energy. The student must understand the management, marketing, and finance with an emphasis on specialised requirements of the agribusiness sector.
MBA in rural Management is a unique program that fulfills the huge industry demand for managers skilled in the field of marketing with a focus on rural businesses. There is immense growth potential in rural markets and increasing realisation of this importance to Corporate and Development Organisations. Any graduate can apply for Rural Management MBA.
Health Care Management:
An MBA in healthcare covers core business skills and practices. Nevertheless, it focuses on the specific issues managers may encounter in roles such as hospital administrators, medical practice managers, insurance-company executives and a wide variety of other roles. Any graduate can pursue MBA in health care management.
MBA in Real Estate Property Management:
Involves overseeing the operations of real estate and property management organisations. Idle for real estate professionals and students interested in a career in real estate, the programme entails the basics of real estate property appraisals, commercial transactions, residential sales, property development and property management. Students learn how to apply advanced business knowledge to the selling and maintaining of residential and commercial properties.
MBA in Online Retail Management:
Involves processing and managing retail outlets online or ecommerce of the company. An MBA in Online Retail Management teaches students to manage the set processes and functions that dominate the retail industry, to see that these functions run smoothly, and to ensure a hurdle-free operation of any online product. The Indian Institute of Management, Bangalore, announced that it saw major rise in hiring of students by e-commerce companies in 2014.
The other streams are:
- MBA in Banking courses; like, Banking and Finance and Banking and Insurance
- MBA in Hospitality & Tourism
- MBA in Telecom
- MBA in Brand Management
- MBA in Materials Management
- MBA in Clinical Research
MBA in any field has its own significance and importance. Depending upon your interests, academic qualifications and your qualities you should choose the right stream to make a successful career.
All the best!