Say Bye to ‘Vanilla’ MBA and Hi to Specialized MBA

Kundan Mishra
|
11 May 23

It’s the 21st century and the world has transformed into a big global market where the demand for smart leaders and trained management professionals has become paramount.

To meet the growing requirement of the world’s dynamic market scenario, the field of MBA has expanded its horizon by adding some exciting new courses to its list of specializations.

From the traditional branches like Sales, Marketing, Finance and Human Resource (HR), MBA has fragmented into specialized sub-disciplines like Health Care, Insurance, Entrepreneurship, Family Business, Media Management, Supply Chain Management and many more. 

What follows now is an in-depth understanding of some of these MBA specializations and how they’ve added a fine edge to the contours of basic management skills:

 

1. MBA in Entrepreneurship

Entrepreneurship is all about having a business idea and translating it to start a new venture. Doing MBA in Entrepreneurship will equip you with the right set of skills and knowledge to help you launch a start-up and manage everything – from setting up the business and recruiting people to administering work, accounts and profitability. The best part about being an entrepreneur is that you are contributing to the society by generating employment avenues.

Future Prospects: There is no dearth of opportunities in entrepreneurship. Entrepreneurs engineer their own future or let’s just say they are their own boss. If you have a business proposal and you know how to sell it, then there is no looking back. You can work as Company CEO, Corporate Vice-President or as a Business Consultant.

Institutes

Companies

  • Limeroad
  • Taxiforsure
  • iCreate

 

2. MBA in Disaster Management

Disaster Management or Emergency Management is about developing and implementing strategies to not just manage and overcome catastrophic events, but also to prevent and reduce the chance of them happening again or at least minimizing their impact. A professional in this field is required to come up with contingency plans and procedures that can be initiated by identifying potential disasters, man-made or natural.

Future Prospects: After obtaining a degree in this field, you can apply in government and non-government organisations, as well as consultancy firms. You can take up a career in research, training, consultancy and teaching. You can also find employment opportunities in emergency services, relief agencies and international agencies such as the UNO.

Institutes

Companies

  • National Institute of Disaster Management (NIDM), New Delhi
  • SAARC Disaster Management Centre, New Delhi
  • Disaster Mitigation Institute, Ahmedabad

 

3. MBA in Family Business

Since family owned businesses comprise of more than 70% of the top 500 firms in India, it is natural to see this niche segment emerging as specialized field of study in the country’s business schools. If you have a family business, then you can contribute to it significantly by enrolling in this programme. Under this specialization, you will learn how to successfully manage and grow a business and even get investors to give you that much needed funding.

Future Prospects: Once you are through with this programme, you will be a trained employer. Those who aspire to manage their family businesses or up-scale the existing operations, this educational qualification will prove to be a major stepping stone in their career paths.

Institutes

Companies

  • Tata Consultancy Services (TCS)
  • Bharati Airtel
  • Wipro

 

4. MBA in Logistics and Supply Chain Management

Logistics and Supply Chain Management has gained immense prominence in the last few years. Getting products and services to the right place, at the right time depends on a company’s effective and efficient logistics and supply chain processes like managing transport, warehousing, planning and controlling the flow of how the product or service is going to be delivered to the customer. Looking at the large consumer market, it has become imperative for businesses to hire professionals who have the requisite knowledge and skills to handle this job.

Future Prospects: Today, an organization’s reputation depends on how efficiently it serves its customers. Therefore, individuals with a qualification in logistics and supply chain management play a huge role in shaping the reputation of a brand. Once you obtain your degree in this field, you can take up roles like logistics or supply chain manager, consultant and analyst. You can work in the retail industry, real estate sector, catering firms, hospitals and big international trading houses, etc.

Institutes

Companies

  • Flipkart
  • Jabong
  • LCL Logistix
  • DIESL

 

5. MBA in Hospital Management

Health industry is not restricted to providing treatments anymore. In fact, it has transformed itself into a more organized and professional structure that emphasizes on improving the standards of healthcare. India is one of the leading countries in medical tourism with a multitude of patients coming from the UAE, Nigeria & Africa today and as such, the need for better health facilities have increased the demand for specialized professionals who have the expertise to manage health services. Hence, the requirement for hospital management professionals is at an all time high.

Future Prospects: Hospital Management is a very high-paying and rewarding profession with the sprouting of private hospitals and clinics. Authorities are on constant lookout for individuals who can look after hospital administration and manage their services in the most effective manner.

Institutes

Companies

  • Fortis Hospitals
  • Apollo Hospitals
  • Lilavati Hospital

 

6. MBA in Real Estate

The real estate industry in India is right now in its booming phase. With a large number of development projects, housing societies, corporate hubs and shopping malls coming up, MBA in Real Estate is a good option for those who want to make a career in selling and maintaining residential and commercial properties. As a field of study, it will equip you with advanced business knowledge that you can apply to property development and management.

Future Prospects: Increasing urbanization and industrialization has accelerated the growth of real estate sector in the country. Therefore, it has numerous opportunities for individuals who understand the concepts unique to the real estate industry. After getting an MBA degree in this area, you can take up roles such as real estate broker, property or real estate manager, asset manager, investment manager etc. There are various job options in real estate firms, real estate departments in banks, trust companies etc.

Institutes

Companies

  • Jaypee Infratech Ltd.
  • DLF Ltd.
  • Ansal Properties & Infrastructure Ltd.

 

7. MBA in Sports Management

With the increasing number of sporting events taking place in India every year and India’s participation in global sports, there is a rising demand for professionals who can plan and organize those events successfully. MBA in Sports Management revolves around the business as well as administrative aspects of sports like sports marketing, event management, facility management, sports economics, finance, branding and promotion etc.

Future Prospects: There is a huge demand for Sports Management professionals, considering the growing number of sports events happening across the country. A person acquainted with sports management can work as a Sports Agent, Sports Marketing professional, Sports Director, Event Manager, Player Personnel, PR and Community Relations Officer, Sports Broadcasting Manager, Sports Administrator, Sports In charge etc.

Institutes

Companies

  • BCCI (Board of Control for Cricket in India)
  • Premier Hockey League (PHL)
  • Indian Premier League (IPL)

 

8. MBA in Airport Management

Looking at the expansion of aviation industry and the rising trend of privatization of airports, airlines and airport management is becoming an important segment. If you get an MBA degree in airport management, you will be in charge of carrying out a wide range of administrative responsibilities, including managing airport staff, airport equipment, transportation schedules, etc. Basically, your job as an airport manager would be to ensure that the airport environment is safe and all the operations of the airport premises are being conducted in an organized manner.

Future Prospects: A number of career avenues are open for those with an MBA degree in Airport Management. There are various employment options within airport management like Manager - Operations, Manager - Customer Relations Service, Manager - Air Traffic Control, Marketing Manager, etc. Since the aviation industry in India is growing at a rapid pace, the demand for qualified managers and officers has increased. Being an almost recession free industry, airport management is highly safe options for students.

Institutes

Companies

  • Airports Authority of India (AAI)
  • Airports Operated by GMR Group
  • Airports Operated by GVK Group
  • Jet Airways

 

9. MBA in Communications Management

Communication is an important tool for any organization to perform successfully. Not just within the company, communication is important to reach out to people outside the organization. An MBA in Communications prepares you for a managerial role through which you solve communication problems within an organisation and also stay in touch with clients, media and other corporate managers for promoting the business.

Future Prospects: These days, big corporate houses have a separate department, which takes care of all the communication-related activities to be held within or outside the company. If you think you’ve had enough of working in media houses and advertising agencies, go for a specialization in Communications Management and you will be all set to enter the corporate world at mid to upper-level management positions.

Institutes

Companies

  • Genesis Burson Marsteller
  • JWT
  • McCann Erickson India
  • Amazon


10. MBA in Pharmaceutical Management

The pharmaceutical industry in India has experienced phenomenal growth lately. Top pharmaceutical firms need good managers to look after the management as well as development of their company. MBA in Pharmaceutical Management is meant to prepare you for managerial positions in the Pharmaceutical industry.

Future Prospects: After obtaining this degree, you can work as Drug Distribution Manager, Sales Manager or Marketing Manager in leading pharmaceutical companies. MBA graduates who have prior experience can take up the position of a Deputy General Manager or Regional Manager in reputed public sector pharmaceutical companies, research organizations, government hospitals, etc.

Institutes

Companies

  • Ranbaxy Laboratories Limited
  • Indian Drugs and Pharmaceuticals Ltd (IDPL)
  • Hindustan Antibiotics Limited (HAL)
  • Sun Pharma
  • Cipla

 

While some may insist that it does not matter what specialisation you pursue as long as you do it from a reputed institute or the fact that only some specializations of MBA are in demand in the industry today, industry stalwarts are of the view that a targeted and specialized MBA/ PGDM degree will not only give you the coveted edge in the domain but also increase your chances of growth in that particular sector. Plus, it is always good to have a first mover advantage in any field. Not only will your learning be good, but your success ladder could land you in the skies! Wouldn’t that be good?