You are preparing for MBA entrance exams and have everything planned for your life as an MBA student and career after that. MBA aspirants should have helpful information and guidance on different MBA streams and career options to assist with planning and decision-making. It's essential to consider your interests, skills, and goals when determining which MBA stream or career path to pursue.
While most of the students opt for popular MBA/PGDM streams like Finance, Marketing, Human Resource and Operations, there are many more streams which can lead to a lucrative career. These streams include Entrepreneurship, Information Technology (IT) Management, Health Care Management, Green Management, Social Entrepreneurship and Supply Chain Management. These fields are less popular than the traditional streams, but they are established and in high demand for MBA graduates. With an MBA, you'll have the skills and knowledge to excel in these fields and the opportunity to make a significant impact in these industries. These fields are not only established, but they are also upcoming fields with huge demand. Considering these fields, you can set yourself apart from traditional MBA graduates and have a unique career path. Here's the list of 14 MBA specialisations you should know about.
MBA in Family Business Management
The family business is one of the oldest company types, making up a sizable portion of all firms. The majority of jobs fall under this category or about 50%. Some of the largest business houses in India have been family-run for many generations.
MBA in Family Business Management is designed to equip students with the knowledge and skills to effectively manage and grow a family business in a rapidly growing economy and competitive atmosphere. The course covers strategic planning, financial management, and communication skills, which are essential for successfully running a family business.
MBA in Tourism and Hospitality
In recent years, the Tourism and Hospitality sector has experienced significant growth, becoming one of the most popular industries for generating revenue. With more people travelling and spending money on tourism, the industry has seen an increase in opportunities for businesses. This has led to a growing demand for professionals with specialised knowledge and skills in Tourism and Hospitality Management.
An MBA in Tourism and Hospitality Management is a program that equips students with the knowledge and skills specific to the Tourism and Hospitality sector. The program covers various aspects of the industry, such as tourism planning, hotel and restaurant management, event management and tourism marketing. The program also focuses on providing insights into the industry's unique challenges, such as sustainable tourism, crisis management and digital marketing.
MBA in Clinical Research Management
Clinical research is a highly specialised profession that evaluates the security and effectiveness of drugs, medical items, technologies, therapies, and regimens. The development and approval of novel medicines and treatments depend heavily on this discipline, so there is a great demand for highly qualified and educated individuals in this area. A specialised MBA curriculum in Clinical Research Management focuses on managing clinical research in the pharmaceutical and healthcare sectors.
This program provides instruction in industry-specific skill sets, such as pharmacovigilance and monitoring a drug's and medical device's safety, following regulatory authorities' approval for usage. Another speciality that focuses on gathering, storing, and managing clinical research data in clinical data management. Another crucial ability for managing the various phases of a clinical research project, such as planning, execution, and monitoring, is clinical research project management.
MBA in Criminal Justice
Because the criminal justice field is so specialised, only highly qualified individuals can handle its numerous facets. A specialist program called an MBA in Criminal Justice focuses on managing criminal justice organisations and the particular difficulties this industry faces. This MBA concentration addresses working people, money, systems, and public relations in high-stress criminal justice settings.
The program also focuses on developing leadership qualities, business communication, and general management skills. These skills are essential for effectively managing criminal justice organisations and dealing with the unique challenges of this field.
MBA in Knowledge Management
Making the most of an organisation's aggregate expertise and skills to enhance business performance and decision-making is the aim of knowledge management (KM). Identification, management, and sharing of an organisation's information assets, including staff knowledge, databases, documents, rules, and procedures, are the focus of knowledge management (KM). A relatively new but soon-to-be-popular specialisation within the management area is the MBA in Knowledge Management.
The MBA in Knowledge Management program is an excellent choice for people who want to learn about the most recent trends and best practices in KM or who want to work in or manage a knowledge-intensive organisation. The curriculum teaches the applicant how to develop by drawing lessons from the past and how to think strategically and make decisions.
MBA in Health Management
Healthcare management, health services, clinical information systems management, global healthcare management, and health services administration are just a few topics covered in the MBA in Health Management curriculum. The curriculum is created to give students specialised knowledge and abilities in the healthcare industry, such as managing healthcare delivery systems, comprehending healthcare legislation, and knowing the operational and financial elements of healthcare companies.
The course addresses issues including financial management, strategic planning, and effective communication, which are crucial for successfully managing a healthcare business. The curriculum also emphasises improving general management, business communication, and leadership abilities. These abilities are essential for managing healthcare companies and overcoming this industry's difficulties.
MBA in Oil & Gas
Students who complete the MBA in Oil & Gas program will be equipped with knowledge and abilities unique to the oil and gas sector. The program covers a wide range of topics related to the business, including oil and gas refining, marketing, transportation, and petroleum exploration and production. The curriculum also sheds light on the particular difficulties the sector is currently experiencing, such as the erratic nature of oil prices, environmental restrictions, and geopolitical threats.
The MBA in Oil & Gas program also covers common management skills such as strategic planning, financial management, and communication, all of which are essential for successfully managing an oil and gas organisation. This program provides the proper training to professionals who aim to make a career in the sector by tapping the fast-emerging opportunities there.
MBA in Power and Energy
MBA in Power and Energy is a graduate-level program that provides students with the knowledge and skills to manage various aspects of the energy industry, including power generation, oil and gas, renewable energy, energy efficiency, and sustainable development. The program is designed to prepare students for leadership roles in the industry, with an emphasis on minimising risks and maximising profits. The program also focuses on solar energy, a rapidly growing sector within the energy industry. Overall, MBA in Power and Energy is a specialised program for students interested in pursuing a career in the energy industry.
MBA in Infrastructure
As infrastructure projects are usually large-scale and cross-border, the MBA in Infrastructure is a specialised program that aims to provide students with the knowledge and skills needed to excel in the infrastructure sector and emphasises stakeholder management and relationship building. The program will also help develop the skills and knowledge necessary to work effectively with various stakeholders, including investors, contractors, and government agencies.
Infrastructure encompasses various industries, including transportation, construction, energy, and telecommunications. The program is designed to provide students with a comprehensive understanding of the infrastructure sector and its various aspects, including project management, finance, and marketing.
MBA in Transport & Logistics
A specialist program called the MBA in Transport and Logistics aims to give students the information and abilities they need to handle several facets of the transportation and logistics sector. Students who complete the program will thoroughly understand the industry, including supply chain management, logistics operations, and freight management.
The program covers various topics such as supply chain planning and execution, transportation management, logistics and inventory management, and distribution and warehouse management. The course also covers the technical aspects of transportation, including transportation planning and engineering, as well as the economic and regulatory aspects of the industry.
MBA in Aviation
The MBA in Aviation program is designed to provide students with a comprehensive understanding of the industry, including management, finance, and marketing. Students will learn about the various aspects of the industry, such as air transportation, ground handling, cargo, fleet management, passenger facilities, safety, regulations, and fueling. They will also learn about the strategies and techniques used to manage these different aspects of the industry.
As the government heavily regulates the aviation industry, the program also focuses on helping students understand and navigate the complex government regulations that govern the industry. Students will learn about the rules and policies that govern the industry and the strategies used to comply with these regulations.
MBA in Real Estate
The MBA in Real Estate program is focused on preparing students for employment in the corporate sector of the real estate industry. There is a considerable demand for specialists who can coordinate all financial and administrative processes as more corporate houses enter the market. Budgeting, forecasting, and risk management are just a few economic and administrative topics students will study.
The MBA in Real Estate is a specialist program created to train students for management positions in the real estate sector. Graduates of this degree can expect employment in various natural estate-related fields, such as property development, investment, construction, and property management.
MBA in Legal Studies
The MBA in Legal Studies is a specialised program that integrates business and legal education. The curriculum is created to give students a thorough understanding of the legal considerations of conducting business and making decisions. Students learn how corporations and governments interact and the laws and regulations that control them.
An MBA in Legal Studies is a specialist program created to give students the knowledge and abilities needed to succeed in the business world by comprehending the legal facets of corporate operations and decision-making. For graduates, it is a distinctive program that can lead to various job prospects in the legal and commercial sectors.
MBA in Event Management
MBA in Event Management is a specialised graduate program that equips students with the necessary knowledge and skills to manage different aspects of the event management industry. This field is particularly appealing to young people because of its glamorous nature and the opportunity to express creativity.
The MBA in Event Management is a specialist program created to train students for executive positions in the event management sector. A wide range of job opportunities in the event management sector, including event planning, coordination, marketing, and management, are anticipated for program graduates.
