MBA Specialization: Do wonders with lesser known MBA programmes

It is a common myth to pursue management degree only in Marketing, sales, finance, HR, IT, media & communication and other conventional streams for which MBA programme has so far been known. In the race, we forget the MBA in upcoming sectors though lesser known yet buoyant with more opportunities where fewer MBA professionals are available.

What are these programmes, how tough or easy is to get admission in them, which are the institutes, what would be the opportunities after completion of this programme, are a few of the many questions, coming up the aspirants mind that MBAUniverse.com responds to shape their future.

What are the programmes?
When we talk of MBA in IIMS, XLRI, FMS or other such institutes, two important factors come to our mind- first is to appear in CAT/XAT and score high and second is to focus on their regular PGDM/MBA programmes. The reason is our mindset.

Hundreds of MBA/PGDM programmes across the country, fulltime as well as short time say for 15 months, 1 year, 6 months are running in number of institutes, which turn the person into one of the preferred management professional but the candidates are afraid of taking admission in such MBA programmes. Aspirants do neither know much about such programmes like MBA in health management, Oil & Gas, Power, Infrastructure, family business, tourism, Transport & Logistics, Aviation, real estate, Legal studies, event management nor do we try to dig into it.

Why to go for MBA Specialization?
A great lawyer or a group of highly skilled medical professionals can save the people with their expertise but they may not be able to run their law firm or a multi specialty hospital due to the lack of management skills. Besides, such professionals also wouldnt like to waste their time in running from pillar to post on managing every tit bit. There are thousands of such hospitals, law firms, tourism companies, real estate companies who need such MBAs at lucrative packages.

General Election 2014 in India could be cited as the most relevant example. Politicians could be good vote getters, might be loved and liked by millions of citizens, may be good orators but when it comes to manage the show during elections, they or their parties run for such MBA professionals who are event managers and capable to manage the floor.

These programmes are like unexcavated Gold mines. While candidates with conventional management degrees have to search for suitable jobs and sometimes become the victims of disguised unemployment, MBAs emerging even from not so highly ranked B schools get the job of their taste in these areas.

How tough is the admission?
The admission to these MBA programmes is much easier and can be secured even with half of the score, required for other regular programmes. A few of the institutes conduct their comparatively easier tests or there can be direct applications also. Usually these programmes have extended last dates to apply for admission.

SPJIMR, Mumbai has although closed its admission process for regular PGDM programmes but it is open for other MBA/PGDM programmes like entrepreneurship, How to start the business, international management, Family business management. How good the institute is is known to everyone who thinks of doing PGDM/MBA.

Similarly, RICS, BIMM, IMT, BIMTECH, Great Lakes, TAPMI, Delhi School of Business, NDIM, Asia Pacific, UPES, SRM and number of good B schools offering national and international specialized MBA programmes can still be approached to opt for a management degree with a difference where you can be sure of not being a part of the crowd but a person who will be a real manager.

How good will be the choice?
What made you opt for a different type of graduate course? Were you able to decide it on your own or the decision was thrust upon you either by your family members or by free advisors? Thousands of candidates opt for graduation in Engineering in the vain hope that they will be the best ones. Now if you make a comparative study you will find number of the medical and engineering graduates aspire to become civil servants, how many of them succeed is a different matter.

If that remained the focus while preparing for graduation, what harm would have been there, had the graduation been completed in humanities with the subjects like Sociology, psychology, Political science, history or others. One could have got more time to prepare for civil services even during graduation and the subjects would also have strengthened the General Studies part.

But we didnt do it. The reason is that we feel insecure and are afraid of losing on one or other ground. Probably its not the MBA programme or course that we are searching to fulfill our cherished desire of becoming a seasoned management professional but search for a branded institute which may or may not support our dream. So the need is to choose the preferred MBA programme along with the institute.

Do we have to pay more?
On the contrary, the fee for such MBA programmes is less and learning experience is better since teacher student ratio in these specialized programmes is optimum and intake is also less. The fee charged on such programmes is slightly more than half of the regular programmes. The key point to remember is to find out which MBA programme is better in which institute.

Should we expect lesser Return
The answer to this question is a big No. Those who have visited big chain of hospitals like Max, Fortis, Crosslay, Apollo, they may be aware what are the packages these managers are getting. The only thing needed is how keen and sincere you are towards your career path after completion of the MBA programme.

The offered salary packages are sometimes higher than what is offered to regular MBA programmes. Return on investment is higher as you invest less than the regular MBA programme but receive somewhere equal or even higher than that. Specialized MBA programmes have their own USPs and good ROI is one of them.

Dont get disheartened in any way if you didnt get an offer of admission in regular MBA It is a blessing in disguise as now you may opt for your preferred specialized programme.

Stay tuned to MBAUniverse.com for more news and update son MBA Specializations