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master of business administration (mba)
an mba is, by its very nature, designed to give you a certain level ofexpertise within the world of business. as you may have already discovered,people who earn mbas can have a definite advantage when it comes to highersalaries and opportunities for advancement. plus, some industries, such assecurities and commodities, require this advanced degree if you want to achievehigher-level positions.
all mba programs can provide you with some core competencies, including a solidfoundation of business knowledge. typically, you will study accounting,finance, marketing, advertising, management, and business operations, as wellas ethics and law related to business. you can also learn how to:
• develop strategic business plans
• use advanced research techniques to generate solutions
• maintain meaningful communications
• use your budgeting and planning skills to ensure fiscal stability
• adhere to government regulations
so, why are more and more schools offering a diverse range of specializations?and, more importantly, what will your chosen area of concentration mean foryour future career? to help clarify, here are some of the most commonspecializations, and their benefits.
management
as with other specialties, including marketing and finance, the basics will becovered in a general mba program. however, by specializing in one of the core areas,you can deepen your knowledge, and delve into different job-specific aspects.for example, a concentration in management could help you develop expertise inanalytics, organizational relations, and strategic management. you can alsolearn concrete strategies for effectively managing change.
international business
as the landscape of business changes from localized markets to global ones, thedemand for professionals trained in global economics, international trade, andinternational management expands as well. this specialty can allow you todevelop essential cross-cultural knowledge. for example, did you know thatwhile asking somebody what they do for a living is perfectly acceptable inamerica, it is often seen as an offensive question in other countries? clearly,knowledge of cultural norms is vital to asuccessful career ininternational business.
entrepreneurship
this specialty is particularly popular right now. with a concentration inentrepreneurship, you can learn how to turn your great ideas into tangibleresults. while acquiring integral small business knowledge, you can also gainexperience in identifying investors, and developing business plans. plus, youcan use your entrepreneurial skills to make your own business a success, or tocontribute to new business development within an existing company.
some otherexamples of mba specializations include:
• project management
• human resource management
• finance and accounts
• marketing
• information technology
the key
how do you ensure you get the most out of your chosen specialty? pick a programthat will give you plenty of opportunities to put your theoretical knowledgeinto practice. look for:
• professors who have experience in your field
• case studies and projects that expose you to real-world business practices
• thesis or capstone projects that allow you to practice meeting real businesschallenges
finally, make sure you get a solid grounding in the basics before moving on toa specialization. for example, if you don't have a business degree, then atwo-year mba program that allows you to gain a general business education thefirst year, before choosing a specialization in your second year, is probablyyour best bet. a broader education also enables you to move out of your chosenspecialty if the market hits a downturn.
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education is a channel, a process or a device to develop thepotentialities of the individual to enable him to grow into a decent citizen.education guides to meet challenges of life with courage and with humor. inspecific, a job-oriented education made the students capable of seeking a jobaccording to his aptitude, ability and competence. the master of businessadministration, one of the professional educations is the best-known managementqualification throughout the world. it can accelerate individual career,prepare him/her for promotion, and help him/her to have a complete career change. admissions in mba the most valuable degree throughmanagement quota
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