Sectoral Specializations Offered in MBA/PGDM
Gone are the days when Specialization in an MBA degree only meant HR, Banking & Finance, Marketing, or Operations. Today, there is a myriad of specializations to ensure that MBA graduates become ‘jack of all trades and ‘master’ of (at least) ONE! According to a latest Trends Report by QS TopMBA.com, India is one of the three biggest markets for MBA jobs along with the US and Brazil. There has been a 17 percent rise in MBA jobs available in Asia-Pac region with India being a significant contributor to it. A lot of this can be attributed to an upsurge in the type of MBA specializations being offered. Also, there has been a gradual increase in the number of students enrolling for specialized MBA courses nowadays.
Some of the popular sectoral specializations offered in MBA/PGDM are:
- Aviation
- Big Data Analytics
- Communications & Branding
- Digital Marketing
- Energy Management
- Family Business & Entrepreneurship
- Healthcare or Hospital Management
- Industrial Management
- Logistics & Supply Chain Management
- Retail management
- Rural Management
- Sports Management
- Telecom Management
Here are FIVE reasons why we think sector specific MBA programmes are gaining popularity:
Industry Expectations
Recruiters today look for students with specialized skills. To match industry expectations and remain relevant to the evolving industry demands, B-schools today offer a plethora of sector specific specializations. Organizations want to absorb candidates who have fundamental understating of the business inside out. Having learnt about various aspects of management along with sectoral knowledge allows them get integrated into the organization smoothly. Companies like Airtel and Lenovo have led the trend of recruiting specialized MBAs
Industry Focus
There has been a paradigm shift in the scope of management principles. From scientific management and production optimization to concepts like sustainability, corporate governance, and ethics, the scope of principles has broadened considerably. With specialized MBA courses, students get niche understanding, which helps them focus on a specific industry and build the right attitude for work. Based on the 2017 application trends survey from the Graduate Management Admission Council (GMAC), there has been a rise in application volume for 85 percent of MBA programs – generic & specialized.
Job Oriented Program
MBA with a specialization is a job-oriented program which helps break the clutter from generic MBAs. Also, technology and modernization push the students to evolve by choosing in-demand sectors and skills which give an extra edge. Students get customized qualifications which can be put into maximum practical use in the workplace. Job providers look for resources who are ready to face and meet the demands of the market immediately after the completion of their course.
Demand for Agile Learners
With ever-changing technology, the industry today needs quick and agile learners who are up to date with the latest trends. They want students to transform into professionals who know how to deal with clients specific to a field. This automatically catapults the demand for sector specific MBA graduates who are technically well-versed with what their industry expects and needs.
Passion Transforming into Productivity
An MBA in a stream like Tourism Management, Rural & Agri-Business Management, Family Managed Business or Communication Management prepares students for the specific nuances of the business. When a student chooses a specialist field that he/she is passionate about, it automatically transforms into productivity.
It is quite evident that sectoral MBAs are the way forward. They not only help students to align to the industry needs but give them the right platform to spear ahead in their career.
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