What Is MBA?
MBA, short for Master of Business Administration, is a highly valued internationally-accepted postgraduate degree designed to develop the skills required for careers in business and management.
An MBA course enables you to learn how to successfully manage, lead, organize and adapt in a variety of business environments. The program gives you practical skills and theoretical knowledge to take your business forward. It also embellishes your personal skills in the areas of communication and leadership, making you more confident and forward-looking.
MBA programs have a core curriculum of subjects or Core Courses, such as accounting, economics, marketing, and operations, as well as elective courses that allow participants to follow their personal or professional interests.
Some schools require students to complete an internship at a company or an organization, which can lead to good job opportunities at the end of the program.
MBA is the most popular internationally-recognized professional degree in the world. Over 2,500 MBA programs are available worldwide in various languages, most of them in English.
Most Common MBA Specializations / Degrees
MBA in Accounting
MBA in Accounting is one of the most popular MBA courses in India. The course offers the student a global view of accounting practices as it seeks to develop skills that are very important for the operation and control of the accounting information systems of a company. The course, like all other MBA courses, can be pursued as a full-time or part-time degree.
Students possessing an undergraduate degree in Accounting or Commerce and also those without a commerce background can apply to the full-time courses across the country and abroad.
Part-time courses are Executive MBA (EMBA in short) courses that are suitable for professionals with a few years of experience.
You can expect to take the following courses while studying MBA in Accounting:
- Financial Accounting
- Cost Accounting
- Fundamentals in Managerial Accounting
- Cost Management
- Tax Planning
- Accounting in Acquisitions and Mergers
- Problems in Financial Reporting
- Business Strategy
MBA in Human Resources (HR)
MBA in Human Resources (HR) is also a popular choice of students. It imbues students with skills relating to corporate headhunting, compensation and benefit management, and team- building.
The HR program in MBA teaches subjects such as organizational development, workforce development and training, maintaining workforce regulations, performance assessment, motivation, labor relations, health, welfare, and safety assessment.
An MBA in HR is a much sought-after degree in corporates.
MBA in Finance
Finance is an integral and critical part of any organization. An MBA in Finance equips students for leadership roles in financial corporations, healthcare industries, and government.
The degree places a strong focus on theory and analysis in finance with students strengthening their skills in mathematics, statistics, and economic analysis relating to projects and tasks handled at the management level.
Courses focus on investment strategy, mergers and acquisitions, and corporate risk and insurance.
Usually, students excelling in math and accounts go for this option.
MBA in Marketing
MBA in Marketing instills in the candidate knowledge and skills to understand how to expand a business and capture various markets.
An MBA in Marketing offers specialized courses in consumer behavior, brand and product management, promotions and marketing strategies, sales, executive and leadership management skills, market strategies, and market research in different industries.
The course will also improve your communication and analytical skills and teach you about business ethics and leadership.
An MBA in Marketing can steer you to higher positions and better salary in various fields because no business can survive without good marketing.
MBA in Economics
An MBA in Economics aims to develop a very articulate mindset which can put both the profit and market situations together and maximize a business’s potential. Students who take up this degree program learn how to investigate the risks and potential in investing in both local and foreign markets and make informed decisions based on their research. They also learn to analyze international finance markets and trade.
Graduates of an Economics MBA program are invaluable when it comes to making decisions regarding pricing a product, setting its market, and advertising it. Graduates are also trained in industrial relations, marketing policies, and investment decisions.
Therefore, Economics MBA graduates are able to set up a business in view of the local market and anticipate its growth and development in terms of both the local and the global market.
Other MBA Specializations
The following are the other fields that are available for doing an MBA:
- Business Management
- Global Management
- Information Systems
- Operations Management
- Strategic/Risk Management
- Technology Management
- Leadership Programs
So now, you surely know what is an MBA.