What is an MBA
MBA-Master of Business Administration is an academic degree for master’s in business administration. MBA was originated from United States came into sight in late 19th century. The need was identified for this study was identified by country industrialists and companies who required scientific approach towards management.
Specifications in MBA:
The various specifications existing in MBA are MBA in education, e-business, engineering, executive, general management, health care, human resources, industrial management, knowledge management, media, organizational, technology management, Criminal Justice, Entrepreneurship, Finance, Global Management, Hospitality and Tourism, Information Systems, Leadership, Marketing, Nonprofit and Government, Sports Management and MBA in Telecommunications. But commonly considered specifications are accounting, finance, and marketing, human resources, and operations management. However, General Business courses during the program will cover one-fourth of all other specifications. So students can opt this and keep their focus retained by choosing any other area as specialisation.
Students will be exposed to corporate world after their completion of master’s in MBA. Certainly, an exercise of self evaluations on their skills is advised. It is not just what is up and running in the market value is important but also their abilities to perform as managers in the corporate world counts the most. For example, if you want to pursue MBA in finance the skills you need to possess are is firstly you need to be good in numbers, you should be open for learning as finance needs a lot of frame work with accounting, auditing, various laws and acts such as income tax, sales tax. Similarly, if you want to hold master’s in Human Resources your dedication towards understanding the entire length and breadth of people’s activities is necessary. As every individual is different, you need to have ability to cope with unstructured situations in people handling. Most important skill to pursue MBA in Human resources is the 4C’s of people Creativity, Calmness, Conceptually sound and convincing ability. MBA in marketing is one the most known specialisation. Students select this marketing specialisation are failed at times as they lack the necessary energy in applying what they have learnt in theory. Hence, students picking this course should have ability to plan, adhere and execute their marketing ideas, high energy levels in promoting products and services, good communication skills, interpersonal and analytical skills. This is why self evaluation of skills is necessary for students before they choose their areas of specialisations in MBA.
The four fundamental types of programs in MBA are:
- Full time-Two year MBA
- Accelerated MBA
- Part-time MBA
- Executive MBA
To conclude, nevertheless companies give importance to MBA professionals to improve company’s performance, to maintain win-win situations and to identify the best was for creating healthy work environment; because “Happy employees work potentially and promote 100% company’s growth”.