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Everything You Need to Know About MBA

Everything You Need to Know About MBA

MBA is a specially designed management course with many specializations. management aspirants have lots of questions & we are trying to solve many of them.

Dr. Vishal Wadajkar
February, 11 2022
3698

Deepak is a 21-year young promising commerce graduate standing at a crossroads to decide his options for higher studies to ensure that he utilizes his potential to the fullest.

He is seeking the advice of his economics professor, Dr. Shinde, who also happens to be a renowned career counsellor.

After a lot of contemplation, they decided on the option of an MBA for Deepak.

What helped Deepak to make a balanced and firm decision was the entire information about the MBA program in terms of its significance, specializations, steps in the admission process, the science of choosing the right college and placement preparations for an MBA.

The excerpts of their discussion were as follows.

Relevance of MBA Program:

An MBA is such a beautifully designed professional course that it not only helps in acquiring contemporary knowledge of the industry requirements but also helps to hone the most necessary skill sets and develop the required attitude.

Thus, it is a complete package of success.

May the industry be any - IT, Banking, FMCG, Automobile or anything else; they might need graduates of some specific background like Engineering, Commerce, Pharmacy, Agriculture etc. but they all collectively appreciate the postgraduates of Business Administration background.

The reason is very simple - managerial skills and leadership attitude.

In short, MBA is not only an option but also a success formula for students of any graduation background.

Specializations in MBA:

MBA is necessarily a curriculum that has a combination of general management courses and specialisation courses.

General management courses offer a macroscopic view of the field. It helps to develop an overall understanding of the economy, industry, and a particular organisation.

Whereas specialisation courses offer know-how and skill set related to the domain of work.

General management provides the width and specialisation provides the depth required.

Both are important, however, specialisation has a little bit of upper hand in terms of importance because it provides all that can be and needs to be applied in day to day working.

Nowadays there are various specialisations but the most relevant as per the contemporary need of the industry and offered by various universities are as follows.

1) Marketing Management

Marketing specialization offers the know-how of the most creative ways of designing, branding, promoting and selling products and services for organizations.

It also prepares students for challenging but most rewarding career opportunities like sales and distribution, digital marketing, market research, advertising, international marketing, marketing analytics etc.

2) Financial Management

Finance specialization offers knowledge, skills and career opportunities in the area of accounting, financial management and control, costing, taxation, banking, stock markets, personal finance, wealth management, financial modelling, risk management, international finance, microfinance, fintech etc.

3) Human Resource Management

HR specialization orients students into concepts and careers which not only include traditional avenues like recruitment and selection, training and development, payroll management, HR administration, industrial relations and labor laws etc.

It also prepares students for trending careers including cross-cultural issues, HR analytics, gender sensitivity and inclusion.

4) Business Analytics

Business Analytics is probably the most glamorous of all specializations as far as the sophistication of work and future potential is concerned.

This specialization combines one's mathematical and statistical ability, the skill of coding and using contemporary tools and understanding of business needs together to formulate winning business strategies.

This specialization caters to professionals for roles like data scientist, business analyst, consultant, AIML specialist etc.

5) Operations and Supply Chain Management

Operations and supply chain management specialization prepares students for employment opportunities like operations executive, logistics manager, purchase executive, supply chain specialist etc.

MBA Admissions Process:

Normally, the following are the steps involved in the admission process of the MBA program.

  1. Filling MBA CET Exam form
  2. Appearing on the exam and scoring a competitive percentile
  3. Verify documents at the designated verification centre
  4. Fill out the option form for competing with other aspirants for allotment of your dream college
  5. Confirm admission by reporting to the college allotted to you

Nowadays, the admission process of an MBA has become very transparent and easy because it is based on the usage of technology.

However, it does not guarantee the quality of college and the possibility of placements. Aspiring students must take the responsibility to research properly for finding out the most suitable college and prepare themselves for placement readiness.

The following sections will throw more light on both of these objects.

Selection of MBA Colleges:

In pursuing MBA, the selection of college is a very important step.

It is so because the same university contains various colleges teaching the same curriculum but not all of them can offer the same kind of placement and career opportunities to students.

The selection of MBA colleges should be based on the quality of teachers/teaching, the extent of industry interface, employability training, the placement records, extracurricular activities providing overall development opportunities to students and the reputation/strength of the parent group under which the college operates.

Colleges having accreditations like NAAC, NBA etc., quality certification like ISO and recipients of prestigious awards like Best College Award etc. by reputed bodies assure the aspiring students that their choice of the college is the correct one.

In the changing times, even the colleges are also expected to change. The colleges that are digitising themselves and aligning their courses as per the need of industry are the ones that will remain ahead in the competition and such colleges must be chosen by the aspiring students to remain on the winning side.

Placement Preparations:

In preparations of the placements, developing the right package of relevant knowledge, required skills and the right attitude is extremely important.

Curriculum adds knowledge, certifications and employability training add to the skillset and internship opportunities / live projects / extracurricular activities add to the attitude.

Slogging when there are no companies on campus and being prepared for opportunities when the placement season starts is the key to success.

As Deepak has understood the entire details in nutshell, we have tried to document it in this blog and make it a ready guide for all other aspirants like Deepak.

While this blog gives an overview of various points involved in the subject of "Importance of MBA Program", we are also preparing detailed blogs on each section and linking them with respective points in this blog.

Aspirant students can and are advised to also check out detailed blogs in the future, whichever they might find interesting, to deep dive into.

Deepak was a wise student who collected all information, contemplated it and made a positive decision.

We want all other aspiring students to collect proper and detailed information from this bunch of blogs and make an informed decision for them.