The recent economic growth in India has resulted in the emergence of several new Indian ventures as well as an increase in the number of foreign companies opening operations in India. This has resulted in a significant rise in the requirement for trained and qualified workforce at managerial levels in the country. Without a doubt, education is the key to success in this competitive world we live in, and as such management education from a reputed institute can help open new and wider job opportunities for candidates.Owing at the rising requirement of management professionals in the job market, a degree in Masters in Business Administration (MBA) has gained a lot of importance lately, and has now, in fact, become more of a necessity if you wish to secure a good managerial job at a good company.
An MBA education exposes students to various skills and concepts crucial to businesses and prepares them to contribute productively to the organization they get to work for.In general, an MBA degree provides a basic overview of the business world and serves to impart leadership and team building skills. But as today’s businesses are all about specializations, the specialization that you choose in your MBA education matter a lot. The specialized MBA education can help to equipyoubetter for the specific field you want to pursue your career in. Along with the basic knowledge regarding various aspects of business operations, the specialization in an MBA degree specifically trains candidates to handle issues specific to their career choices.
A swift increase in career specialization has resulted in the emergence of MBA courses with specialization in fields ranging from agriculture to hotels. One can find an MBA specialization to fit any career choice. The most popular MBA specializations are marketing, human resource management, finance, information technology, operation management, retail management, Digital marketing and web analytics, logistics and supply chain management, financial analytics and international business.
It won’t be wrong to say that the specialization you choose in your MBA will govern the direction your career takes. Thus, it is imperative to put some serious thought into this choice and make a well-informed decision beforehand. Following are a few important considerations to keep in mind while choosing your specialization inyour MBA degree:
- Know Yourself: The specialization you choose while pursuing your MBA will stick with you for the rest of your life and will largely define the career path you will walk on to. Hence, carefully self-analyze your strengths and weaknesses before you take any decision. You know yourself better than anyone else does. Think about what you want to do in your life, what interests you, and what are your passions. Maybe you have always been good at math and great with number crunching but you don’t want to make a career out of it. Passion and career choice can be very different. Maybe you have always been interested in computers and want to have a career in Information technology. Different careers are suited for different personalities. Someone who is an introvert may find it difficult to work in Human Resource. Someone who is more outgoing and gets bored easily may not be a great fit in Finance. Before you make a choice know yourself and what you are good at, what are your likes, and what you are comfortable with. Base your decision on your personality, skills, and career goals and most importantly,on your interests.
- Long Term Goals: Consider your long term goals. Trends keep changing, so instead of following the current trends, ask yourself where you want to see yourself in 15 years and then choose the specialization that would give your career a boost in order to take you to your career goal. While choosing a specialization in MBA, consider the prospects of long term employability in that field. Instead of choosing a specialization that will be irrelevant in a few years, choose something that fits your long term goals.
- Understand the Market: One of the most important reasons behind pursuing an MBA degree is to improve your job prospects. While choosing your specialization you need to understand the market first. New and innovative technologies render old ones obsolete. Similarly, MBA specializations that do not match today’s business requirements should be avoided. Make sure the specialization you choose is not outdated and the curriculum is up-to-date.
- Salary Packages: Though you cannot and must not base your decision for choice of specialization wholly on this criterion, but to make a well informed decision, it is important that youare aware of the salary packages offered for various MBA specializations in general. Find a balance between your interests and a specification that comes with a good pay package. If you base your decision solely on the salary structure and are unable to grasp and perform well in that field, it will be all for nothing. Whereas if you are good at what you do, even if salary packages are not the best in the beginning, you can utilize your skills to the fullest and reach the top.
We, at the J.K. Lakshmipat University, offervarious specializations under the MBA program to cater to varied interests of today’s youth. To meet the industry requirements and ensure that the students are ready for the industry when they graduate, we also offer MBA with dual specialization along with super-specialty MBA courses like MBA in Digital Marketing and Web Analytics, MBA in Financial Analytics, MBA in Retail Management, and MBA in Logistics and Supply Chain Management.
Students pursuing Dual specialization MBA degree have a common curriculum in the first two semesters, consisting of a basic overview of business operations and concepts and general skills like leadership and team building skills which are necessary to excel in a managerial role. In the third and the fourth semester, they are allowed to choose two majors based on their interests and career goals. The University offers Finance, Marketing, Human Resource, International Business, Operations Management, and Information technology as options for major subjects.
Super-specialty MBA degrees also have the same curriculum in the first two semesters, comprising of an overview of concepts and skills that are common to all businesses and industries, such as organizational behavior, financial accounting and analysis, business research methods, productions and operation’s management, communication skills, human resource management, etc. The curriculum in the third and the fourth semester is exclusive to the specific specialization.
Our main aim, at the J.K. Lakshmipat University, is to keep our students up-to-date with the current trends and standards of the industry and to help them emerge as industry-ready professionals capable of accepting the challenges head-on. For this purpose, the university has even partnered with the worldwide leader in the financial services industry,Moody’s Analytics, for MBA program in Financial Analytics and with CII-IL for MBA program in Logistics and Supply Chain Management. Students who pursue their management education from the J.K. Lakshmipat University come out prepared to face the real industry challenges and successfully establish themselves as leaders in the corporate world.