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Scope of MBA Specializations in India
Now a days MBA has become the most sought after degree for the younger generation. After having done your technical degree, MBA is the only course that equips you with the managerial qualities that not just gets you a lucrative pay package and placement but also a head start in terms of an administrative position while others are still struggling in the basic functional areas.
With the world, having opened up so widely for business activities, a lot of new specializations too have sprung up with humongous prospectus.
MBA Retail– the uprising of the great middle class in India and similar trends in Brazil and china a huge customer base of not less then 1000 million has made the Global Multinational companies to enter the Retail market in a big way. For a developing country like India the retail industry is having a current growth rate of 8.5%. There are under construction at present around 325 departmental stores, 300 new malls, and 1500 supermarkets. This proves that there is a tremendous scope for growth in the Indian retail market. You can very well estimate the kind of Job Opportunities the Retails sector is going to offer. After the big retail success in US the global giants like Tesco, Metro AG, Wal- Mart too are soon going to enter these economies.
MBA International Business– Post liberalization & globalization, more or less all the economies in the world have opened their gates for the international markets. This offers an excellent opportunity for the companies to enter distant markets and make profits. There is a huge demand for skilled managers who are well aware of the international business scenario where in through their business acumen they can establish the company smoothly and profitably. International Business therefore has become the most sought after course as one need to be well acquainted with the international business environment, Diplomatic boundaries, legal practices and international finance, marketing and trade practices.
MBA Pharma– With the advent of the open economy concept, the Pharmaceutical companies are now looking for international subsidiaries to cater to the world population. Especially after India and Pakistan having signed the WTO deal, a lot of pharmaceutical giants now are gearing up for New Drug Development and Delivery systems to cater to the emerging markets. One more factor that has made this sector all the more attractive is the rise of the Life style diseases. Diabetes, hypertension, Obesity patients are growing in geometric progression and to cater to this increasing patient base is a Herculean task.
MBA Finance– current business practices globally are aimed at making an organization very responsive to the ever changing financial conditions. The organizations need to be very dynamic to smoothly adapt their balance sheets in accordance with the business environment therefore now Finance is not just about money management but it also includes Funds generation, investment planning, acquisitions, stock & Shares and studying global financial trends. Strategically also Financial management has become a very important tool in deciding the long term goals of an organization. The jobs in this sector have equally become ample as more and more CFAs, ICFAI, CS are entering this sector to make it more Dynamic & competitive.
MBA Banking and insurance– The deregulation of the banking sector resulted in a tremendous growth of this sector as the quality of services have improved and more globally competitive companies have evolved,adding a lot of job opportunities in this sector. The insurance sector too has been cleared for private insurance companies under IRDA Act, 1999. The Indian insurance industry has shown a annual growth rate of 15-20% while The banking index has grown at a compounded annual rate of over 51 per cent since April 2001 as compared to a 27 per cent growth in the market index. The major players being ICICI, Reliance, HDFC, SBI and the list is endless. These facts are evident enough to prove the scope of banking and insurance industry in MBA curriculum.
MBA HR– since ages HR was always looked up on as recruitment training and payroll Department. In recent years the HR has started playing a more dynamic role in the growth of organization. The training has now been extended to behavioral aspects with more and more emphasis on polishing individual brilliance. HRM has now become HRD. Apart from the in-house department the HR industry has expanded to consultancy firms and placement agencies. Major players like Ernest & young, Mafoi, ABC consultants, Datamatics have given HR industry a new look and identity. This calls for highly skilled MBA professionals with enhanced knowledge in understanding Human resources and its optimum utilization.
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