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What are the specialization one can pursue during an MBA ?
Most B-Schools offer specializations the fields of Marketing, Finance, Human Resources Management, System, Operations. However there are certain other sectors as well like retail, pharma, insurance, etc. these have given an impetus to industry specific specializations like Retail Management, Pharma Management, Risk and Insurance Management, MBA Biotech etc.
Let us briefly take a look at what each one stands for:
• Marketing: It involves understanding consumer needs and meeting them profitably. One might like marketing if they are curious about people, like analyzing data, enjoy travelling and meeting people and building a consensus. In the broader sense, its getting people and producers together.
• Finance: It is concerned with the efficiency of an important components of business – that is the money. One works on designing financial offerings to maximize the returns, investors on their investments, and adapting to the dynamics of the market.
• Human Resourses: It involves activities which are directed towards development of people in the organization: performance appraisal, employee counseling, employee training and employee motivation.
• System: It would involve helping companies in leveraging technology to business value, especially in wake of restructuring, consolidation and growth in dynamic scenarios.
• Operation: It is for those who are fond of processes which is important in manufacturing as well as service delivery. It also involves areas such as quality control and optimization of the company.