Management education plays an essential role in today’s dynamic business environment. The rapid trend of globalization and technological changes has made it difficult for organisations to survive in the competitive world. As a result the importance of management education has increased manifold. Business executives need to update their skills due to sudden changes in the external environment. Due to the increasingly complex nature of organisations and businesses, MBA(Master Of Business Administration) Colleges need to impart relevant, current, and cutting edge knowledge to the students.
Management education adds value to the students with any existing qualification. It helps students irrespective of their domains in graduation as it widens their knowledge base and encourages them to think differently. It enhances managerial and leadership skills by sharing of ideas, insights through healthy, meaningful and case study discussions. Having students from diverse cultural backgrounds also adds value as there is probability of generating multiple ideas.
A two year regular degree program in MBA aims to make the student proficient in various subjects such as management, finance, economics and business studies. In the first year of an MBA the main focus is on giving students a brief idea about various subjects. Towards the end of the first year students are introduced to a specialized area of their choice. Choosing a specialization can be a difficult process. It is very important for student to consider their career goals before making the final decision. A number of B-schools are now offering specialized courses and the changing needs of business have also given rise to several new niche areas.
Here’s a look at some of the traditional as well as new options available to MBA aspirants: