Are you almost done with your undergraduate course? It is time to decide on the next steps. There are plenty of options available to you. You could consider looking for a job or maybe joining your family business. These are great options if you need to take a break from studies and get some real-world experience, but that is all that it should be. There is more to learn if you want to get ahead in life. In either of the situations, a post-graduate degree would serve you well.
Why an MBA?
If you are planning to be a part of the corporate world, an MBA is what you should be looking at. It makes you capable of leading, organising, managing and adapting to different business environments. The course helps you to develop your skillset to be able to handle the various aspects of a business by giving you an understanding of how they are interlinked. It does not imply that you need to be a jack of all trades and master of none; you certainly can be a master of one with the options available for specialisation.
If you are a graduate from a recognised university and have scored 50% marks at an aggregate level, you can apply for admission to an MBA course. You can pursue an MBA irrespective of your choice of subjects for your degree course. You can also continue it if you have already been working for some years and need a break or want to do it alongside your current job.
The Admission Procedure
Most MBA college admissions start with an entrance exam. There are exams conducted at the National level, State level and sometimes at the college level. Once you clear the cut-off for this exam, you become eligible for the next stages, which could include group discussions, personal interviews and more depending on the college to which you apply. Only after you have successfully cleared these stages can you get admissions to the college. Every college has a limited number of seats, and hence several students get eliminated at different stages to accommodate the same.
While there are maximum opportunities for getting admission to full-time MBA courses, many colleges also offer part-time courses for those who want to pursue an MBA along with an ongoing career. There is also the option of an executive MBA and distance learning.
The Course Format
While learning all the skills of a business is essential, you must become an expert at something. MBA courses take care of that and allow you to specialise in a field of your choice. While the first year of the course covers the core subjects for all students, the students get specialised coaching for their topics in the second year.
They also get the first-hand experience of the actual industry environments through an internship, generally after the first year. These help the candidates strengthen their portfolio for the placement opportunities that they come across after successful completion of the course.
All students of an MBA course learn the core subjects of Accounts, Marketing, Economics and Operations. They also have a choice of elective subjects to enhance their learning experience.
Most institutes have courses with several options for specialisations with your MBA course. The most common ones that the students opt for include Marketing, Finance, Human Resources, IT & Systems and Operations. If you are very keen on a particular specialisation, there are MBA colleges that focus on specific streams too.
The other specialisations include International Business, Business Analytics, Logistics and Supply Chain Management, Artificial Intelligence and Data Engineering, Leadership, Strategy, Innovation, Entrepreneurship, Corporate Asocial Responsibility Business Management, E-Business/E-Commerce and Global Management among many others. More specialisations are being added to different colleges every year.
Below, you can find a brief description and the scope of some of the popular specialisations opted for by the students:
This field specialises in the understanding of consumer behaviour, product and brand management, marketing strategies, marketing channels, distribution, pricing, digital marketing and marketing research. On completion, the opportunities for employment include the positions of Marketing Manager, Advertising or Promotion Manager, Marketing Research Analyst, Management Analyst, Sales Manager, Sales Representative and Public Relations.
It is a critical component of any business. The students learn about the different aspects of finance in a corporate that include direct and indirect taxation, insurance and corporate risk, investment strategies, local and global economics, mergers and acquisitions, securities and portfolio management. The job opportunities include positions in the stock market, financial institutions, as well as the finance division of a corporate.
This course gives opportunities to individuals who have analytical skills and are good with numbers. They get roles where they use this talent to facilitate essential decisions regarding mergers, acquisitions, derivatives pricing, fund management, portfolio management, risk management and algorithm trading.
This course teaches all the skills that one would require for hiring and managing human resources in an organisation. It includes subjects like recruitment, business analysis and organisational development. Since the jobs in any organisation cover a broad spectrum of requirements, this can be a very challenging field. The responsibilities of an HR professional include recruitment and incentives, professional development, employee relations, resolution of conflicts and maintenance of professional etiquette.
It is a specialised course that aims to make the students skilled in a combination of fields, including operations research, marketing, statistics, machine learning, computer science and data mining. This course keeps in mind the current market trends. It makes them competent for a career in big data analytics, econometrics, social media analytics, sales and retail analytics and supply chain and operations analytics.
Join BML Munjal University
There are a large number of management institutes in the country churning out MBAs at an alarming rate. It emphasises the fact that you must choose your college after a lot of thought. Your college must not be one that imparts technical knowledge to you, but it must also work on your holistic development.
At BMU, the students are equipped with practical knowledge and life skills along with the theoretical knowledge in various fields described above. They give rise to leaders, innovators and entrepreneurs who can bring about change. The students can get global exposure through their association with international colleges and MNCs.