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MBA Specializations: 5 hottest options with great scope

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MBA Specializations: 5 hottest options with great scope

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MBA is no doubt the most aspired academic course in India. Lakhs and lakhs of students every year take numerous competitive exams for admission in top most colleges of the country and to get post graduate degree or diploma in Business Management.  

However, it is a matter of concern for many that which specialization they should opt for. There are students who think it is a decision they should think about after the exam but if thought wisely, one should be very clear of their future goal even at the time of writing their paper. It is so, because many institutes that offer unique specialization close their admission counter just before the exam and if you miss to apply for those institutes, you may miss out the opportunity of your lifetime.
 
Apart from traditional MBA specializations like Marketing, Finance, Human Resource, etc. there are institutes that offer specialization in some focused fields like Hospital Management, Hospitality Management, Tourism Management, Petroleum Management, Textile management, etc. Amongst them there are few topics that are not only interesting but are highly in demand as well. 
 
We are discussing in detail 5 such topics which are the hottest options with great scope for candidates:
 
1.MBA in Hospital Management: 
 
With growing importance of healthcare industry across the globe, Hospital Management professionals have become very sought after. Also with private hospitals mushrooming all over, there is a need for not only skillful doctors but also efficient hospital managers and administrators. While doctors strive to keep the blood flowing and the heart beating, the hospital administrator is doing his job in keeping the hospital alive and healthy.It is a very high-paying and rewarding profession.
 
Main Features of this course are – 
 
•It prepares qualified and efficient administrators by training them in various methods of administration of hospitals.
 
•It develops better systems for effective delivery of healthcare in hospitals.
 
•It trains the candidate in developing better leadership skills.
 
•It trains the candidate in understanding the concepts of organizational behavior and human resource management as well.
 
•It does provide the necessary skills and knowledge for practical orientation and implementation of strategies with relation to modern hospitals.
 
•The aim of this course is to acquaint the aspiring students with the basic principles of management, organizational behavior, materials management and human resource management with reference to hospitals.
 
•This course also helps the student in understanding clearly the role of economics in general and in context to hospitals and healthcare in specific. 
 
•Thiscourse explains the evolution and importance of health insurance as well.
 
However, the job of a hospital manager is very demanding. Besides having an idea of healthcare industry, they also should have a strong finance and marketing background. They need to be updated with advances in medicine, computerized diagnostic and treatment equipment, data processing technology, government regulations, health insurance changes, and financing options. 
 
2.MBA in Communications& Public Relation: 
 
If you’re working in a media house, an advertising agency or a public relations firm, and are looking forward to advance your career, you should pursue a MBA that specialize in communication& PR. Even if you are not in this field already but aspire to become a public figure in any sense, you should know the intricacies of the media and pr world and how to communicate at that level.
 
Main Features of this course are – 
 
•It concentrates on providing business leaders the skills to overcome communication challenges
 
•It teaches how to deal with external communications such as media interaction.
 
•It transforms candidates into delegates to become an integral asset for their organization
 
•It teaches how to maintain the company's positive public image
 
This program will prepare you for mid to upperlevel management positions in these communication career fields. It will prepare you with knowledge and skills to solve communication problems in your office, will teach you how to use new media to transform existing business practices, reach out to popular media and clientele, and manage corporate images. Also MBA communication graduates are as well paid as any other specialization of MBA with immense future growth prospects.
 
3.MBA in Entrepreneurship: 
 
This is one specialization which can never lose its charm. This course is for those who have an interest in setting up their own business or venture. People who aspire to become entrepreneur should pursue an entrepreneurship MBA. Entrepreneurial management program are designed not only for business founders, but also for investors, venture capitalists, and individuals who want to advance in their current companies. 
 
Main Features of this course are –
 
•It helps the students develop the skills required to evaluate business opportunities, create new ventures, and foster innovation.
 
•It will hone the problem-solving and decision-making skills of candidates
 
•It provides Analysis power to analyze organizational development theories and change the models that are currently being employed in organizations for betterment
 
•It provides practical knowledge, strategy, and skills for planning the legal issues, marketing, and other important functions of management involved in a new business, product, or service launch.
 
•Decision making and adaptability in the small business environment are also given due importance.
 
Thus, this course teaches you how to take important decisions, take risks, and is a great to give a boost to your career. Students taking up this course also learn to evaluate the feasibility of business plans. Institutes offering MBA in Entrepreneurship
 
4.MBA in Real Estate
 
With increasing number of developers, projects, introduction of new formats, role of private equities and expansion of multinational companies, real estate industry has grown like never before. It is for this reason that demand for trained real estate managers is on a rise. To give your career a head start, a MBA in real estate and give your career a boost. 
 
Main Features of this course are –
 
•It makes it easier for candidates to advance their career in construction or real estate sector
 
•Through this program you have an excellent opportunity to network with your peers as well as experienced Real Estate professionals.
 
•This course gives you tremendous knowledge of real estate sector and its challenges
 
•This course is also for senior and experienced managers who are seeking to develop as well as reinforce their management skills and knowledge
 
•The real focus of this course is to teach how to apply of business and management principles within the property industry
 
The program will teach you how to work with the latest trends currently happening in the real estate market and will also prepare to work with any future changes that might occur. The need was felt to provide high-level corporate business administration with an emphasis on real estate and construction. Anyone wishing to pursue real estate development as a career should consider an MBA in the same sector.
 
5.MBA in Information Technology: 
 
MBA in Information Technology is not a new specialization and is very popular among Indian IT professionals as well. But the reason that we included this topic here is that with the expanded use of IT in all facets of business, the IT sector has seen an unsurpassed growth. An MBA in Information Technology will take your career to new heights. It will help you develop the skills you need to develop business competitiveness and interact effectively with executive management as a strategic business partner. 
 
Main Features of this course are –
 
•This course can get you the top notch management jobs in blue chip companies
 
•It helps in understanding the job responsibilities of an IT project with respect to scope, time, and budget
 
•This course increases the net worth of the individual having technical expertise
 
•This course strives to delineate between an individual who simply works with technology compared to someone who takes a broader approach
 
This course is a blend of both technical knowledge and management skills.A software engineering graduate might be very good academically but he might not be good in client handling and overall managing the project. That is why, an MBA in IT can be an icing on the cake for technical personals. 
 
Stay tuned to MBA Rendezvous and read updated informative articles on MBA education.
 

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