A generation characterized by their tech-savviness and curiosity to learn – Millennials, looking for career opportunities in management, don’t want to restrict themselves to a single domain. They want to broaden their knowledge and expand their professional network across multiple areas for better career growth. Therefore, for students such as yourself, a dual specialization in PGDM is strongly recommended. It will not only give you expertise in your areas of specialization but enhance your capacity in aspects such as varied managerial skills, career options, job security, networking, or even with their start-up idea.
Keeping that in mind, Krupanidhi School of Management (KSM), one of the best pgdm colleges in bangalore, offers PGDM with Dual Specialization in Marketing, Human Resources Management, Finance, International Business, Operations, IT, Retail, and Logistics. Let’s take a look at some of the combinations you can opt –
- Marketing and Finance – Marketing and finance are two entirely different fields. Marketing concerns with the process of introducing prospective customers or businesses with products or services offered by a company, through traditional and digital marketing. On the other hand, finance is all about allocating budgets, protecting assets, managing debt, and investing in the right portfolios. So, what’s the commonality between the two domains? The need to use the analytical part of your brain.
In this day and age, for a campaign to succeed, marketers not only have to think creatively but analytically as well. They can’t proceed to make a viral, integrated, multi-channel campaign without considering its financial requirements and implications. By opting for finance alongside marketing for PGDM majors, you will develop an understanding of strategic business. You will view each marketing campaign as an investment, which makes total financial sense for the company based on factors such as growth rate of KPIs, lead-gen segmentation, budget allocation, forecasting and many more. Hence, a combination of marketing and finance is a match made in heaven.
- Marketing and Operations – Operations Management (OM) is the engine that drives the car, i.e. marketing. It’s because OM acts as the conceptual framework for processes that support marketing strategy and tactics such as marketing optimization, content management, execution and analysis. Therefore, by opting for OM alongside Marketing, you, as a marketer, will achieve greater consistency and efficiency in integrating various marketing processes and workflow. Apart from creating ideas for your campaign, you will gain proficiency in marketing strategy development and planning, asset creation, campaign execution, post-campaign analysis and reporting.
Another reason to choose OM is the changing landscape of marketing. Marketers are under increasing pressure to put considerable efforts in managing complex technological and operational aspects. They’re also being held responsible for metrics that convey revenue and lead generation. Therefore, with an academic background in OM, you can stand tall in facing these challenges over your fellow marketers and counterparts. Moreover, your ability to make decisions based on accurate historical data will give your company a competitive advantage, and make you a vital asset for your company.
- Marketing and Human Resources – Contrary to popular belief, marketing and human resources (HR) are not that different. Communication is an important requisite for both specializations. Let’s take employer branding as an example.
Employer branding is showing an employer’s reputation as a place to work in a positive light. This form of branding comes under the responsibility of HR. On the other hand, marketers are responsible for corporate branding, which helps customers relate to the company’s products or services. However, employer branding and corporate branding are not two separate entities. If the corporate brand isn’t strong enough, it will hurt employer branding as well. Therefore, as a marketer with an academic background in HR, or vice-versa, you can devise a form of communication where the tonality and purpose towards our customers and prospective employees are the same for both types of branding.
Furthermore, you can also use your marketing knowledge to recruit an ideal candidate. By identifying the target group for your recruitment, you can keep the communication relevant and interesting for the candidates. Post-interview, you can provide quality feedback to the unselected ones. It will also contribute positively to employer branding.
- Human Resources and Finance – In many organizations, there is a conflict of interest between the Human Resources (HR) and finance departments. It’s based on the outdated belief that the HR departments focus on employee management and the finance department focuses on profitability, thus viewing HR as a cost unit. It couldn’t be farther from the truth. For instance, the commonality between these two departments is their overlapping responsibilities. HR managers have to consider the cost and benefits of recruiting employees, and the policies should align with the profitability of the company. Similarly, Finance managers must consider recruitment as a way to improve company performance. They must consider factors such as salary increment, bonuses, and other motivational programs to improve the standards of their company’s working environment.
As a result, companies looking to hire professionals with a dual major in HR and Finance to bridge that gap between their departments. Hence, you can strongly consider this combination.
By pursuing your dual specialization in any of the combinations mentioned above, you will possess the knowledge and the confidence to lead a successful career in management.