MBA Courses – Get a Greater Sense of Confidence in Your Marketability
The scope of management professions is enormous worldwide, but that’s not all. MBA professionals have a reputation for being extensively rewarding and strenuous. Management profiles are integrated deep into the distinct aspects of an enterprise, including marketing, supply chain, human resources, etc. According to the Bureau of Labor Statistics, employment in management roles is expected to rise by 5% from 2019 to 2029. This is faster than the average for all other profiles and will open up approximately 505,000 jobs in the U.S. alone.
Why Pursue an MBA?
An MBA course demonstrates a commitment to learning, improving, and applying skills that can assist a company in growth. Additionally, MBA course graduates possess a wealth of information they can bring to several endeavours.
Moreover, below are 5 reasons why getting an MBA degree is advantageous to management aspirants:
- Greater Awareness of a Global Market
Earning the best MBA course puts you in close contact with other international students with different work experiences and perspectives on the global economy. Therefore, students can expand their knowledge of other industries around the world.
- Improving Communication Skills
Effective communication is a fundamental skill essential for professionals to succeed. An MBA course can help hone verbal and written communication skills, allowing you to successfully convey concepts to ensure everyone is able to work toward a common goal.
- Expand Your Professional Network
Earning an MBA course makes you part of a global network giving you access to respected professionals you may not have otherwise had a chance to connect with.
- Increased Job Opportunities
In a fiercely-competitive job market, the best MBA course can help set applicants apart from their peers. From energy to consumer products to start-ups, an MBA graduate can be an asset in any industry.
- Better Time Management
Earning an MBA needs juggling extracurriculars alongside a challenging course load. Therefore, an MBA course helps you manage your time effectively, which is an in-demand skill among employers and a valuable life skill.
Difference Between MBA And PGDM
Below are some key differences between MBA and PGDM:
In most cases, the MBA course curriculum is structured by the university. The core MBA course syllabus will be pretty much the same in two MBA institutes under the same university. Since the individual institute determines PGDM courses, it gives them the flexibility to design the course curriculum. Moreover, the MBA course syllabus periodically undergoes various changes according to industrial requirements.
- Susceptible to Fraudulence
Since PGDM courses are imparted by autonomous bodies, aspirants need to be careful while taking admission. Various smaller institutes make claims but do not have proper accreditation status. Whereas MBA course degrees are conferred by varsities, & hence there is a lower chance of fraudulent claims.
MBA courses focus more on theoretical & technical aspects of management rather than adopting a practical approach. PGDM, on the other hand, has an industrial orientation and emphasises on skills-based on market demands.
Most MBA degrees have lower tuition fees as compared to PGDM courses because MBA degrees are offered by government universities. These universities receive financial aid & grants from the government, making the course cheaper for the student.
Different Types of MBA
- Two-Year Full-Time MBA
Enrolling in a two-year MBA course offers an opportunity to develop your fundamental business skills while deep diving into specialist MBA course subjects. Your first year will include core subjects like strategy, finance, communication, and marketing. And you will specialise in your chosen areas during elective modules and concentration periods in the second year. In addition, the extended period imparts several benefits, including extensive opportunities to acquire practical experience during business simulators, & consulting projects.
- Part-Time MBA
If you want to pursue an MBA but can’t take time out from your career, you should consider a part-time MBA as your best option. Part-time MBA courses allow you the flexibility to tailor the program to suit your schedule. A part-time MBA gives you the option of studying at your own pace.
- Executive MBA
Executive MBA courses target mid-career professionals who are looking to advance their careers into leadership roles. EMBA degrees are taught part-time, which allows you to continue working and implement your knowledge & skills immediately in your organisation.
Skills Required for MBA
Employers today look for MBA professionals who can demonstrate that they have mastered core skills in marketing, accounting, finance, and operations and apply those skills to real-world challenges. If you are considering pursuing an MBA course or are already enrolled in one, you should possess the following vital skills:
- Communication skills
- Leadership skills
- Conflict resolution
- Critical thinking and problem-solving skills
- Decision-making skills with innovation
- Initiative and drive
How to Choose an MBA Specialisation?
MBA aspirants can choose to pursue an MBA General program or take up a specialisation of their choice. But it is crucial to choose the right specialisation as this decision can make or break your career. When choosing an MBA course specialisation, you must take into consideration the following factors:
- Career scope placements/ internship opportunities of the specialisation
- Long-term career goal
- The reputation of the institute faculty in the specialisation of your choice
- Pedagogy of the specialisation of your choice
- The infrastructure of the college for the specialisation of your choice
- Course fee & Return on Investment (ROI) of the programme
Different Types of MBA Specialisations
The best MBA course will open doors to a plethora of opportunities and take your career up various notches. If you choose the right specialisation early on, not only will you acquire a competitive edge, but you will also acquire more benefits over the years to come. Here is a list of the best MBA specialisations in demand.
- MBA Finance
Those with an MBA in Finance will graduate with the right foundation for roles like Financial Advisor, Financial Analyst, Hedge Fund Manager, Financial Manager, or Investment Banker. While there are MBA concentrations specifically structured to prepare students to become Accountants or Economists, specialisation in finance is a solid start to those careers too. Therefore, MBA in Finance is one of the most sought-after courses that lead you to enormous opportunities.
- MBA In Forensic Accounting
An MBA course in Forensic Accounting can arm young professionals with the right knowledge to prevent and tackle financial crimes. The rising popularity of Forensic Accounting can offer extensive prospects for job seekers and assist financial firms in keeping their funds secure.
- MBA In Human Resource Management
An MBA in Human Resources deals with human resources analytics, operational management, consulting, and employment law. MBA HR is best suited to those who can manage an organisation’s operations and activities seamlessly.
- MBA Operation Management
MBA in Operation Management prepares individuals to contact multiple departments, which gives operational roles an edge when it comes to learning and advancement within a company. The jobs that open up for individuals in this discipline include the overall operation of an organisation– with roles like Chief Operations Officer (COO).
- MBA in Marketing
Marketing is one of the most popular MBA specialisations. An MBA in Marketing prepares you for some fast-growing areas like Brand Marketing Management or the role of Chief Brand Officer. Marketing research and new product development also come in this dynamic academic area, making Marketing Management a versatile MBA specialisation.
The reasons why students opt for MBA in Marketing can be justified by the benefits one receives from it. The scope of an MBA in Marketing is enormous, as almost every business and organisation requires marketing to stand against the extensive competition. Therefore, the career options are limitless with an MBA in Marketing.
MBA Supply Chain Vs Marketing Management
Supply Chain and marketing are typically offered as available specialisations for various MBA courses. A degree in Supply Chain focuses on the background processes of business, while marketing courses focus on the visible consumer side.
Moreover, Job prospects for marketing managers, as per the data from the U.S. Bureau of Labor Statistics, will increase by 7% between 2018 and 2028, while job prospects for supply chain managers will increase by 4 % between 2018 and 2028.
MBA Marketing Vs Entrepreneurship
An MBA in Entrepreneurship equips students with the required knowledge, skills, and aptitude that are needed to undertake entrepreneurship. The course assists students in building on their business ideas, exploring the market for product acceptance and discovering routes to capital to take up the venture to the market.
On the other hand, MBA Marketing encapsulates students with principles required for the sustenance of sales & customer management in an organisation. Marketing management is no longer just about sales or advertising. It is a lot more strategic and dynamic and requires constant analysis of information about products in the market, changes in the market scenario, customer feedback, behaviour, competitors, etc. Therefore, MBA in Marketing is one of the highest-paying and in-demand disciplines in an organisation.
MBA Marketing Vs International Business
MBA International Business primarily focuses on the global business environment and uses an international perspective to study management theories, supply chains, trade, finance, etc. An MBA of this type could prepare you for a career in a multinational company as a global business manager or an international research analyst.
On the other hand, MBA Marketing equips you with significant strategies in casting market segments of potential customers and producing marketing strategies according to their tastes and preference. Moreover, after the successful completion of the MBA course in Marketing, students can work in various MNCs, including Marketing and Advertising companies. Therefore, an MBA in Marketing can be a smarter move to boost your career prospects.
MBA Marketing Vs Human Resource Management
MBA in Human Resources is a specialisation that trains students to be H.R. professionals who can administer the employees of an organisation. The HR department is responsible for establishing the organisation’s culture and values among employees & hiring the best talent, and keeping employees.
Whereas MBA Marketing is one of the oldest and most sought-after fields due to the enormous career opportunities in the marketplace. Every international or national business needs an effective marketing team to promote its brand’s image. As a result, the scope of MBA Marketing in India is constantly escalating.
Let us help you to choose best for you
Top 5 Marketing Books of All the Time for MBA Aspirants
Reading should be a daily habit for an MBA aspirant as reading helps in expanding vocabulary, providing tranquillity, and enhancing analytical as well as thinking skills. However, most MBA students do not have time to find good books due to the lack of time. Here are the top 5 marketing books that are worthy of special attention:
- Good to Great by Jim Collins
- Snapshots from Hell
- Outliers by Malcolm Gladwell
- Straight from the Gut by Jack Welch
- Connect the Dots by Rashmi Bansal
The Best Management Games for MBA Students
MBA courses can become boring and intense with continuous presentations and projects, classes, studies, and constant placement worries. To overcome this, most MBA courses have incorporated offline and online management games to keep students engaged & motivated.
The top MBA colleges go for innovative online management simulation games like:
- MBA Crystal Ball Games
- BSG Online
- Beach Ball Toss
How is BMU Helping MBA Aspirants to Climb the Corporate Ladder?
The MBA course at BML Munjal University prepares students for long and fulfilling careers. BMU’s multi-disciplinary, application-based curriculum, mentored by Imperial College London, imparts life skills and practical knowledge that create innovators, thought-leaders, and entrepreneurs who can reinvent the future of doing business in new ways. Through MBA programs, BMU enables its students to become business ready and lead the industry.
Consequently, the students step out from BMU as well-versed global leaders ready to flourish and succeed in the real business environment. Their ability to act and achieve independently and as team members make them stand out in the world. Moreover, MBA specialisations offered at BMU teach every student to thrive in the complex business environment and emerge as leaders in their domain.
Top colleges like BML Munjal offer limited MBA scholarships on merit to deserving students. Below are the scholarships offered by BML Munjal to its meritorious students:
- MBA Merit Scholarships-
Require students to secure 75 percentile and above in the CAT or around 175 and above in NMAT.
- Dean’s Scholarship-
Require students to secure 90 percentile and above in CAT/XAT or 250 and above in NMAT.
- Haryana Domicile Scholarship
– 25% of students are admitted under the Haryana Domicile category.
MBA courses have always been a coveted pursuit for aspiring management students, primarily because it helps boost their employment opportunities. The best MBA courses are designed to impart students with advanced training & knowledge in one core area of specialisation. Today, there is an array of options for MBA specialisation, and each area has its benefits and perks. So if you are passionate and driven about your career, you will have lucrative prospects.