https://www.admissiondiscover.com/blog/wp-content/uploads/2021/10/heading-bg-dark-1.jpg

What an MBA Degree Is and What You Need to Know

Avatar of admin
By admin
14

Contents

What an MBA Degree Is and What You Need to Know

Introduction

An MBA is ideal for people who want to gain business skills and accelerate their careers……….

The MBA is the world’s most popular graduate management degree. We have many options to accelerate our career and MBA is one of them. If you are a student, then it is natural that you must have heard thinking of pursuing an MBA. The MBA program from a reputed B-School exposes you to several MBA jobs and entrepreneurial opportunities both in India and abroad.

Master’s in Business Administration i.e., MBA, is a broad field of Administration. A career in MBA is a bright career choice as compared to the Master’s degree in any other subjects. It is because an MBA provides an understanding of business and its administration along with managing business operations.

If you are someone ambitious to pursue this course, now, we are sure you’ve read many blogs discussing post-MBA career paths to figure out the best MBA jobs you can work for you after your education. But we are not just talking about one or two MBA career paths. In this blog will give you the details of all the career options you can pursue, post your MBA. We will also tell you about the salary opportunities available for an MBA candidate.

What does MBA stand for? First MBA School…..

MBA stands for Master of Business Administration.

First introduced by Harvard University Graduate School of Administration in 1908 (now Harvard Business School).  The university had only 15 faculty members, and a regular class of 33 students. The first graduating class consisted of 47 students. Today, the school is known as the Harvard Business School. The Graduate School of Business Administration required students to complete four years of undergraduate studies before applying to the business program. Other universities soon began to adopt that policy.

Having “MBA” on your resume will help you stand out to employers, but the true meaning of the MBA goes beyond three letters on a sheet. During an MBA, you’ll build your business knowledge, grow your professional network, and boost your career and salary prospects.

What an MBA degree
What an MBA Degree Is and What You Need to Know 6

Requirements for acceptance into an MBA degree program

An MBA is a graduate course of study. A bachelors’ degree of minimum 3-Years after 10+2 examination, from a recognized board with a minimum aggregate of 50% (45% for SC/ST/PwD) is required for MBA. This means you must first have earned an undergraduate university degree before being able to enter an MBA program. In other words, you must have completed your studies with a bachelor’s degree from any university in the world.

However, your bachelor’s degree does not have to be related with the business world. Though business schools and universities have the final word on this matter, in general you can become a student in an MBA program with any university bachelor’s degree.

Benefits of an MBA

The benefits of an MBA are numerous. From gaining a professional edge to expanding your business network, reasons to get an MBA are as diverse as those who are pursuing them. Completing an MBA program demonstrates a commitment to learning, improving, and applying skills that can help a company succeed. Additionally, professionals with MBAs feel a greater sense of confidence in their marketability, as well as the wealth of information they can bring to various endeavours. These are just a few of the advantages of getting an MBA. 

Increased salaries are a well-documented benefit of an MBA. But what about other reasons

Below are some compelling reasons to get an MBA degree that help answer the question that’s on so many professional’s minds, “Should I get an MBA?”

  • You’ll meet others who share your passion for business.
    Whether you’re introverted or extroverted, if you work for a company or for yourself, there’s nothing like finding like-minded individuals. MBA programs give you a rare opportunity to surround yourself with others who are as passionate about business as you are. Earning an MBA puts you in close contact with other students from around the world who have different work experiences and perspectives on the global economy. In addition to learning from professors, MBA students can expand their knowledge of other industries.
  • You’ll receive a holistic business education.
    It’s easy to get pigeonholed into a business specialization. On-campus and online MBA programs provide a holistic business education that will help expand your interests and your knowledge base.
  • You’ll become an effective communicator.
    Effective communication is a fundamental skill required for professionals to succeed. While communication may be considered a “soft skill” compared to “hard skills” such as constructing a P&L model, it’s no less valuable. An MBA can help hone verbal and written communication skills, allowing you to successfully convey concepts to different people at different levels of an organization to ensure everyone is able to work together toward a common goal. A great benefit of an MBA is the chance to hone your professional communication skills. From writing papers and e-mails to giving presentations, an MBA degree program can help you learn to communicate effectively in business environments—an essential and highly valued skill in every industry around the world.  Do Check to Know About XAT 2023
  • You’ll expand your professional network

Earning an MBA makes you part of a global network of nearly 100,000 alumni, giving you access to respect and intelligent professionals you may not have otherwise had a chance to connect with. Beyond being part of a broader community, you’ll also have the opportunity to build relationships with other professionals in the classroom and beyond.

  • You’ll learn how to work together to meet goals, build teams, and work within them.

Businesses are group environments. If you’re not already regularly working in teams, you will as you pursue your MBA degree, no matter if it is on campus or at an online university. You’ll do more than work in teams, you can learn how to build them—a truly invaluable skill in today’s diverse, global workforce.

  • You’ll expand your mind.
    Busy careers don’t offer much time for self-analysis. On campus or online, MBA programs provide the opportunity to step back and think about larger business issues, branch out in new directions, and consider new career opportunities.

List of Top MBA specializations offered in India:

  • MBA in Marketing Management
  • MBA in Finance
  • MBA in Human Resource Management
  • MBA in Rural Management
  • MBA in Business Management
  • MBA in Operations Management
  • MBA in Event Management
  • MBA in Information Technology
  • MBA in Logistics Management
  • MBA in Healthcare Management
What an MBA is

MBA in Digital Marketing 

We’re all well aware of the increasing importance of digital marketing and thus, many institutes have started offering an MBA in Digital Marketing which is an extension of traditional marketing skills. This is a recent addition to the MBA specializations and also one of the most successful ones. 

An MBA in Digital Marketing equips you with an intense array of digital skills like SEO, SEM, SMM, Website building, Content Management, Email Marketing, and a lot more along with managerial skills. 

MBA in Marketing

A marketer’s responsibilities are to understand & find out the needs of the consumers and then be able to offer a solution to them in terms of a product/service. They also have to compete with the competitors in the same market and outstand them. A marketer also has to make the best use of the marketing resources at his disposal.

In India, Marketing management revolves around meeting consumers’ needs with the marketing resources available with the company. Candidates opting for marketing management as an MBA field can understand the process of transforming consumer demands into products/services. How companies produce, deliver, promote in the marketplace and earn good profits.

An MBA in Marketing revolves around the 4P’s – Product, Price, Place, and Promotion in line with traditional marketing. This MBA specialization also trains you in understanding consumer behaviour, building relations with them, and after the covid situation as everybody knows now India has become digital so that we call competing our work digitally. In this specialization you can learn the digital marketing also.

Various Aspects Taught in Marketing Management Fields

S. No.Major Aspects
1.Consumer Behaviour
2.Retailing Management
3.Business Marketing
4.Marketing Channels
5.Customer Relationship Marketing
6.Competitive Marketing
7.Product and Brand Management
8.Marketing Channels
9.Advanced Research Techniques in Marketing
10.Sales Force Management

Essential Skills for Pursuing MBA in Marketing Management

Candidates willing to take up the MBA field in Marketing Management are refereed and assessed on the basis-of following skillset –

  • Interpersonal skills
  • Strategy building
  • Communication skills
  • Entrepreneurial skills
  • Persuasive skills
  • Analytical thinking
  • Creativity

Top Colleges Offering MBA Specialization in Marketing Management

Indian Institute of Management, Ahmedabad

Indian Institute of Management, Calcutta

Institute of Public Enterprise, Hyderabad

IIMT College of Management, Greater Noida

MBA in Finance

One of the most popular MBA specializations in India which are opted by a number of candidates is due to its growth prospects is MBA in Finance

A finance manager’s responsibility is to plan and control the financial resources and assets of the company. The role of analysing the financial risk and managing it also falls under this. An MBA in Finance prepares you to perform accounting, work in the money markets, banking, international finance as well as privatization. 

Various Aspects Taught in Finance Field

Essential Skills for Pursuing MBA in Finance Specialization

The below mentioned skillset is a must for candidates who wish to pursue MBA in Finance Field as they will be refereed and  assessed on its basis:

  • Problem-solving skills
  • Strategic thinking
  • Strong mathematical skills
  • Leadership qualities
  • Communication skills
  • Data metrics understanding 

MBA in Human Resource Management

One of the most popular MBA specializations in India amongst female candidates is Human Resource Management. MBA in HR imparts knowledge and training to candidates related to managing the workforce of the organization be it small or large. An HR of a company is responsible for recruiting, training, and building a team of employees.

They have to take regular updates on their performance, manage their salary and increments, build a sound employee policy to ensure healthy working environments, and look after their health and safety amenities. An MBA in Human Resources equips you with all the knowledge and training necessary to carry out the above-mentioned responsibilities.

MBA field in HR is one of the most demanding specializations these days for the simple reason that every domain needs skilled Human Resources professionals to manage the workforce.

Various Aspects Taught in Human Resource Management Specialization

S. No.Major Aspects
1.Human Capital Management and HR Audit
2.Wage Determination and Administration
3.Economics of Human Resources
4.Fundamentals of Industrial Relations
5.Performance Management and Appraisal
6.Cross Culture and International Human Resource Management

Essential Skills for Pursuing MBA in Human Resource Management Specialization

Below mentioned skill set is assessed in candidates who wish to get MBA in Human Resource Management field:

  • Adaptability skills
  • Crisis management skills
  • Human capital development skills
  • Multi-tasking skills
  • Conflict management and problem-solving skills
  • Negotiation skills
  • Lucid communication skills
  • Leadership qualities
  • Coordination skills

MBA in Rural Management

An increasing number of woke young learners are inclining towards rural development in reference to the changing socio-economic policies of the government. An MBA in Rural Management trains you in planning and controlling activities in the agricultural sector. It involves planning, organizing, and controlling cooperatives & organizations which are working for the benefit of the agricultural domain. Candidates who pursue an MBA in Rural Management get complete knowledge about the rural economy, agri-business of India, and they are encouraged to visit rural areas, interact and stay with villagers as a part of their fieldwork.

This MBA Specialization will require you to work closely with the farmers and the villagers of India. Many institutes offer a compulsory internship where you will have to stay in remote villages and carry out your research and studies.

Various Aspects Taught in Rural Management

S. No.Major Aspects
1.Corporate Social Responsibility
2.Economic Analysis for Rural Management
3.Rural Society and Indian Polity
4.Legal Environment
5.Social Entrepreneurship
6.Operations Research
7.Social Entrepreneurship
8.International Trade

Important Skills for Pursuing MBA in Rural Management Field

Below mentioned skill set is assessed in candidates who wish to get MBA in Rural Management field:

  • Reasoning skills
  • Fluency in multiple local languages
  • Innovative skill
  • Foresightedness
  • Team spirit
  • Problem-solving skills
  • Mass communication skills

MBA in Business Management

Thanks to globalization, top MNC’s have set up in the Indian markets which have subsequently increased the demand for business experts. Thus an MBA in Business Management teaches you all the aspects of business such as HR, Finance, Marketing, Operations, Retail, and more.

This MBA Specialization prepares you as an all-rounder and is also a preferred choice for those individuals who want to manage their own business or open a venture in the future. 

Various Aspects Taught in Business Management Field

S. No.Major Aspects
1.Corporate Governance
2.Decision Models and Optimization
3.Market Research
4.Business Ethics
5.Operations Management
6.Decision Models and Optimization
7.Management Information Systems
8.Project Management

Important Skills for Pursuing MBA in Business Management Field

Below mentioned skill set is assessed in candidates who wish to get MBA in Business Management field:

  • Team player
  • Analytical thinking
  • Entrepreneurial skills
  • Problem-solving skills
  • Leadership skills
  • Adaptability skills

MBA in Operation Management

The production and distribution of a company’s products and services fall under the responsibilities of an Operations Manager. They are required to constantly find effective ways to improve the production, distribution, and cost of their products and services. 

An MBA degree in Operations Management is an ideal career path for those who wish to understand complete business operations. It trains you with the right amount of theoretical as well as practical knowledge to carry out the operations. 

Various Aspects Taught in Operations Management Field

S. No.Major Aspects
1.Marketing Management
2.Plant Design and layout
3.Technology and Innovation Management
4.Project Management
5.Computer-Aided Design & Manufacturing
6.Materials Management

Important Skills for Pursuing MBA in Business Management Field

Below mentioned skill set is assessed in candidates who wish to get MBA in Operation Management field:

  • Analytical thinking
  • Decision-making skills
  • Strategic thinking
  • Knowledge of Quantitative Techniques & Methods for cost cut
  • Adaptability skills
  • Co-ordination skills
  • Problem-solving skills

What an MBA : MBA in Event Management

Event management has picked up immensely in recent years and is a very good career option. An MBA in Event Management teaches you how to understand and bracket a specific target audience for the event, pick themes relevant to them, arrange for logistics, heavy promotion of the event, giving an estimated budget for the event, and successfully managing the event.

Although Event Management is considered to be a part of mass communication courses yet candidates willing to go solely for Event Management can go for this MBA specialization which is offered by many popular colleges in India at the master degree level. Want to Study Abroad Do Check to Know Study in Sweden

Two major aspects of event management are Crisis Management and Heavy Coordination. Without these 2, events can turn into chaos and the worse nightmare for the event manager. 

 Various Aspects Taught in Event Management Specialization

S. No.Major Aspects
1.Crowd Management
2.Customer service
3.Event Logistics
4.Advertising
5.Celebrity Management
6.Insurance and Risk management
7.Security and Safety Management
8.Celebrity Management

Essential Skills for Pursuing MBA in Event Management Specialization

Event Management Specialization of MBA required candidates to be from extremely creativity field and have expertise given below:

  • Creative mind
  • Communication skills
  • Networking
  • No give up attitude
  • Planning
  • Adaptability skills
What an MBA degree
What an MBA Degree Is and What You Need to Know 7

MBA in Information Technology

If you have an inclination towards computer science, an MBA in Information Technology is the perfect match for you. This MBA trains you to handle the IT of an organization which includes all the hardware, software, networks, and data centers.

Candidates enjoying an MBA degree have an upper hand in this competitive business world as MBA in Information Technology provides a abstract vision & knowledge on technological trends. Apart from that, candidates who have done MBA in Information Technology specialization have a solid foundation in management skills along with educating and developing managers who can effectively manage not only planning, designing, and selecting but also have knowledge about implementation, usage as well as administration of emerging Information Technology trends.

Various Aspects Taught in Information Technology Specialization

S. No.Major Aspects
1.E-Business
2.IT Strategic Planning
3.IT Outsourcing Strategy and Operations
4.IT Consulting and Advisory Practice
5.Data mining & coding
6.Technology Entrepreneurship
7.Business Applications of IT
8.Technology-Enabled Business Model Innovation

Essential Skills for Pursuing MBA in IT Specialization

Candidates pursuing MBA in Information Technology Specialization are expected to have the following skillset

  • Decision-making skills
  • In-depth knowledge of IT
  • Strategic planning
  • Global orientation
  • Project management
  • Computer and digital literacy
  • Technical writing

MBA in Logistics Management

Logistics management is a very crucial concept under supply chain management. Supply chain management or simple Logistics Management deals with the planning, implementing & controlling the supply and stock of goods/services between origin & consumption. This MBA specialization also prepares you to come up with new and effective methods to manage the logistics thereby reducing the time & cost and increasing the production levels. Candidates who do not wish to go for studying Operations Management as a whole can opt for MBA in Logistics Management.

Various Aspects Taught in Logistics Management Specialization

S. No.Major Aspects
1.Financial Management in the Supply Chain Industry
2.Business Process Re-Engineering
3.IT Application in Supply Chain
4.Supplier Relationship Management
5.Introduction to Logistics and Supply Chain Management
6.IT Application in Supply Chain
7.Intelligent thinking

Essential Skills For Pursuing MBA in Logistics Management Specialization

  • Calmness
  • Problem Solving
  • Ability to see the big picture
  • Communication skills
  • Adaptability skills
  • Demanding Decision-making skills

MBA in Healthcare Management

The covid-19 pandemic has surely made us all realize that we not only need more healthcare workers but also a systematic healthcare management system.

Due to the enhancement of technology, the whole concept of healthcare is only limited to hospitals. MBA degree in Healthcare Management attracts those candidates who have an interest in the pharmaceutical, insurance organizations and consulting firms related to the healthcare sector. Having an MBA degree in Healthcare Management allows candidates to respond to various critical management problems faced by hospitals and other related agencies that come under the healthcare domain.

This MBA specialization prepares you to manage the healthcare system with greater stress on how to manage during a healthcare crisis.

Different Types of MBA

MBA is one of the grabbled degrees that helps a person in booming professional skills. Every year, many candidates apply for MBA. Below are the different types of MBA that one can opt for:

1. Full-Time MBA

That is the most common type of course that most graduates apply for. A full-time MBA course duration is two years, and students need to attend the classroom sessions.

2. Part-Time MBA

This type of MBA is preferred by those already working, as this course does not need a student to be constantly present in the classroom. Students have to come for the classroom session once after a while, when and as suggested by the instructors. The duration of this course may vary up to 3 years.

3. Executive MBA

This type of MBA is designed for a professional who wants to boost their skills while on-going with his job. This kind of course usually has a duration of 1 year in which applicants have to attend the classroom sessions on weekends.

4. Correspondence MBA

This is the type of MBA in which students do not need to attend any classroom session. The syllabus and course material are provided to the students at the start of the course, and students need to take the exams at the end. That is a good option for those who want to pursue an MBA but cannot afford the course.

5. Online MBA

This type of MBA has become popular in recent times. The students are provided with online study material with lectures as video recordings. There is a one-to-one mentor allocated to the students where students can resolve the queries and doubts.

One can opt for any of these MBA courses as per their desires. The online course is becoming popular these days as students get everything online and students can complete a course from anywhere. 

It is best for the working professional who can continue with their job. Lots of Institutions in India Offers many executive MBA courses in future-oriented fields that students can attend online as well as offline as per the requirements. The duration of an MBA from Many Institutions is two years.

Hopefully, the article (What an MBA Degree Is and What You Need to Know) will help you in getting factual information about the course and its scope. for more info keep visiting www.admissiondiscover.com.

Follow us

Important Links