Management education has interested many over the years and continue to do so, especially in India. Earning a postgraduate degree in this field, be it MBA or PGDM, is a difficult task. But once one gets the hang of it, it proves to be highly beneficial to students. After one decides to pursue this degree, two upcoming decisions become the most important for how one’s career would turn out. First, the college one chooses to go to and second, the specialization they opt for. While a large number of students are inclined towards going to private management institutes like Krupanidhi School of Management and others which narrows down their first choice and makes it easier, many struggle with making the second decision, i.e. realizing the specialization that suits them the most. And in the haste of selecting one, they end up picking the one their friends are going for. One needs to understand the importance of choosing the right management specialization.
Importance of choosing the right specialization
Think about it, your specialization is one thing that will stay with you for the rest of your life. Based on this, you would get career opportunities. While the choice can be difficult, here are reasons why you should ponder over it more than you think. In MBA, skills are taught based on the requirements of the specialization and that cannot be generalized. For e.g., skills required to be a Finance Advisor may not be the same as the ones required to be a Human Resource Manager. And while these courses provide students with a broad overview of the corporate world, different industries have different rules, workings, etc. So, when one chooses a particular specialization, they are taught the job-specific abilities and are made acquainted with the challenges one might face in that job. Apart from the major impact on career growth, what also matters is one’s interest in the job they are doing. When one enjoys what they do, it improves their efficiency and productivity. Different skill sets are required for different jobs. In some jobs, creativity might be more valued, in some, problem-solving skills might take precedence over other qualities, so one must find a specialization that is compatible with their aptitude and not take this lightly.
Personalities & Specializations
One of the best ways to find out what MBA specialization suits an individual the most, they must first realize their interest which becomes the top priority while deciding on it, and then, their personality. There are plenty of specializations that institutes these days offer and a few of the most popular ones are listed down below.
Marketing is a very popular field of interest for students. As a fresher in this industry, students are required to work in the sales department first and to excel in this field, people who are outspoken, extroverts, and with persuasive skills should take up this specialization. Introverts and shy people will struggle in Marketing. Sales & marketing require a lot of travelling, creativity in the later stages to come up with innovative ideas, work in an unsupervised environment, etc. People who are adept in such qualities perform well.
The IT department deals with the computer systems and computer application in an organization. For any technical help required, the team relies on the IT department. Advanced tech expertise to comprehend subjects like data mining for businesses, managing digital innovation and transformation, etc. is a must. Often more, students who have a prior undergraduate degree in the same field opt for this specialization. Students with problem-solving skills, data organization abilities perform better at this specialization.
Finance is a tough subject and to learn this, one requires a higher level of understanding than other specializations. Someone who is comfortable with mathematics, money management, and logical thinking should become a part of this industry. Most people deal with data and their analysis in this field, and people who can stand numbers for long working hours should go for this specialization.
As an HR of any firm, the primary skill that is required is strong and effective communication. HRs are the first point of contact for potential employees, new employees, and applicants. They represent the company. Their strong interpersonal and communication skills can make or break a company’s reputation to a great level. As an HR, one must have assessment skills as they are responsible for acquiring talent and find the right person for the job. Someone who is amicable and enjoys interacting with and meeting new people is right for this specialization.
How to finally decide?
After carefully examining the personality types required for a particular specialization, students must short-list 2-3 specializations that fit their interest and personalities. Then they must prepare themselves by researching the course curriculum, subjects, core modules etc. of all the shortlisted specializations. Finally, look out for the career opportunities a specialisation offers. Acquiring knowledge is good, but it all becomes meaningless if there is not enough career support. While checking out the job offers, don’t just focus on the quantity and the number of jobs a particular market has, but also on the quality of it, the salary compensation, etc.
When a student is done with performing the above steps, they can analyze the shortlisted specializations, make pros and cons list if needed, and choose the one that suits their requirements.