| Mr. Aftab Ghumra 09MBA09, FYMBA |
It is of prime importance to select the right field of management to specialize in, as normally this would be the discipline in which you would get your first job and possibly even make a career. The first step towards this is to understand what each specialization is about and what do they have to offer.
In most career paths, people are planning to achieve their highest career achievement in managerial positions or become entrepreneurs who are going to run their own business. Although an MBA is not the ultimate requirement for managerial positions, employers generally prefer to promote or hire people with an MBA degree for higher position because MBA degree holders generally have better leadership and communication skills which are important in managerial position. MBA programs also prepare students to have the ability to think analytically and strategically. Hence, if you are combining your undergraduate degree or non-business degree with an MBA in your career field specialization, you will sure obtain higher marketable skills that are desirable to employment of your career field.
Let's look at some of common MBA specializations:
Marketing - At the Front End of Business
If you are looking forward to a career in sales, brand management, or market research. You need to possess excellent communication and resource mobilizing skills. Marketing plays a key role in the industries such as fast moving consumer goods (FMCG), advertising and market research, sales & distribution, and product or brand management. A large number of CEOs often belong to this discipline.
If you are working in marketing, advertising or public relations, you know that these fields are very competitive. You need to have good marketing knowledge and skills in order for you to be success in this challenging career. MBA with marketing specialization can increase your knowledge and enhance your skills so that you are well prepared to face the challenges along your marketing career path.
Finance - It's all about the Money
This field requires extremely high analytical ability, playing with numbers and balance sheets and needs an individual to be fond of being at the complete back-end. With a specialization in Finance you can look for exciting careers in banks, financial consultancies, or financial institutions. Finance plays a key role in the fields of consumer and investment banking, institutional finance, merchant banking, corporate finance and international finance.
Information Systems Management - Making Technology Work
Involves custom-development of IT solutions in all areas, from putting up online daily sales to developing Enterprise Resource Planning (ERP) solutions. Systems Management is normally an integration role between client (internal/external) and programmers; and generally requires people with good technical skills coupled with good business domain knowledge. Systems play an important role in the fields of systems consultancy, account management/project management, systems department of organizations, business development and sales & marketing.
Human Resource Management - A People Manager
You focus on people management and form the backbone of any organization. You need to be a good communicator and should present yourself as competent, dependable and charismatic. It plays a key role in the fields of human resource development, personnel management and industrial relations.
An MBA in Human Resources will combine the generic MBA with specialized human resources training such as employee training, recruitment, planning and mediation. You will also learn how to integrate HR strategies with the company overall human resources allocation plan. With growing importance of this field, the people manager domain surely offers lucrative career opportunities across all industries.