Different Types of MBA Programs 2021

Different Types of MBA Programs 2021: MBA (Master of Business Administration) is a two-year master course where candidates become expert in different areas of business administration. On the very beginning of MBA, special focus is given on to the different management subjects. Later, special topics which they will select to do specialization.

As an MBA student, you have many options to do specialization. Interested candidates who wants to pursue MBA can also choose management exams such as XAT, GMAT, CMAT, MAT, ATMA, IIFT, SNAP etc.

How to Select MBA Specialization?

Most of the students are confused, what specialization they will choose. There are some basic factors we have discussed below which will help you to choose your MBA specialization.

  • Opportunities of MBA Specialization: First of all, every candidate thinks about the scopes that they will get as their career after the completion of MBA.
  • Duration of Program: Students are very much confused between MBA and PGDM, and waste their time.
  • Reputation of the MBA Institution: Check background and search the reputed institutions or colleges in which you are interested to do specialization.
  • Experienced faculty for chosen MBA Specialization: You should do inquiry about the faculty whether they are experienced on that specific MBA specialization you have chosen.

Also Read – Top Colleges in Canada for MBA

Types of MBA Programs 2021

types-of-mba-programs
Different Types of MBA Programs
  1. MBA in General Management
  2. MBA in Marketing Management
  3. MBA in Human Resource Management
  4. MBA in Consulting
  5. MBA in Entrepreneurship
  6. MBA in Finance
  7. MBA in Operations Management
  8. MBA in Management Information Systems
  9. MBA in Global Management
  10. MBA in Engineering Management
  11. MBA in Technology Management

1. MBA in General Management

Duration: 1 or 2 years

MBA in General Management, one of the popular course for MBA students and are taught important skills like innovative thinking, problem solving & risk management. The skills gained in this course help candidate to work at management/ administration level in various institutions like private, public, NGOs etc.

Courses like Professional Development, Business Analytics, Marketing Management, Project and Quality Management, Economics for Managers, Organizational Behavior, etc. can be taken. After the completion of graduation, you will become eligible for different management and administrative posts.

The average salary offered to MBA in General Management is 20 lakhs to 25 lakhs.

2. MBA in Marketing Management

Duration: 1-2 years

If you have interest in managerial or administrative marketing posts, then MBA in Marketing will be a good choice. General business courses are included in it and special focus is given to develop marketing-related skills and concept.

Subjects which are included in this course are Marketing Research, Branding, Product Development, Advertising Management, Digital Marketing, etc. You can pursue various posts, after graduation such as marketing manager, market research director, director of sales etc. You can pursue MBA in Marketing online also.

3. MBA in Human Resource Management

Duration: 1 or 2 years

MBA in Human Resource Management is popular among the aspirants of MBA. This course will give you opportunity to have human resource skills to get key skills, ideas and knowledge that will help you to understand business administration, strategy and other related subjects in a better way.

Success of any company somehow depends on Human Resource Management as they are involved in recruiting, training, employee policy, salary, benefits, increments, health and safety of the employees etc. Good communication skills and ability to tackle difficult situations will you to the higher position in this area.

You will study in this course are fundamentals of human resource management, fundamental of labor laws, performance management and appraisal, fundamental of industrial relations human resource planning etc.

To better your performance, you should have leadership skills, communication skills, strategy thinking, sensitivity, adaptability to change etc.

4. MBA in Consulting

Duration: 1-2 years

MBA in Consulting included business strategy, Organizational Behavior, Business Communication, Consulting, Negotiations, Ethics etc. In this course, candidates will get concepts about the effects of business dynamics and relations of human.

If you want to pursue this course, you should have the required skills such as Creative problem-solving, Excellent business understanding, Planning and aligning project goals to organizational strategy, clear and effective communication, etc.

Every year the demand of this course is increasing and the posts offered by different organizations are Business Consultant, Organizational Development Consultant, Business Process system consultant, Business Analytics Manager, Project Management Director etc. The annual package they get is INR 10,00,000 to INR 25,00,000.

5. MBA in Entrepreneurship

Duration: 2 Year

If you have a plan to set up your own business or wanted to join your family endeavor where you should be very responsible, ambitious and perseverant then it is the best choice for you.

This program helps you to build capability to innovate new ideas which will improve your service and productivity. A MBA in Entrepreneurship required skills like teamwork, networking, creativity, leadership skills and flexibility etc.

6. MBA in Finance

Duration: 2 Years

In terms of popularity, MBA in finance is at top as the scope of this field is huge. The main purpose of financial management is to plan and control financial resources of industries. You will be involved in numbers, budget etc.

In this program, you will be taught accounting for managers, business communication, organizational behavior, corporate finance, business and corporate laws, human resource management, etc.

You should have some specific skills to perform better in this area are supervisory skills, mathematics skills, leadership skills, communication skills, strategic thinking etc.

After MBA in Finance, you will get opportunity to work as Corporate Finance, Asset Management, Credit Risk Management, Trading, Corporate Banking etc.

They are offered an annual package of INR 2,50,000 to INR 15,00,000 when the post-graduation is completed. Some organizations who recruit a candidate of MBA in Finance are Goldman Sachs, Morgan Stanley, Merrill Lynch, JP Morgan, Cap Gemini Consulting etc.

7. MBA in Operations Management

Duration: 1 or 2 years

MBA in Operations Management is a program where focus is in the improvement of productivity, quality and cost for customers. You will be taught how this process can be manage effectively and there will be no obstacles in production and distribution of final product of an organization.

When you intended to do MBA in Operation Management, you can take some specialized courses like Business Analytics, Mathematical Modelling, Data Logistics Analysis & Interpretation, Operation Strategy etc.

Once you complete your course, you can choose your career in sectors like Financial Institutions, Manufacturing, Construction, Information technology, Retail, Management Consulting, Hospitality, Logistics etc.

8. MBA in Management Information Systems

Duration: 2 Years

MBA in Management Information Systems give opportunities to the students to design, implement and application of different advanced program & system where companies managed the continuously growing data.

The main function of Management Information Systems (MIS) is to collect, store and organize the data. Users are able to create detailed reports, based on analyzed information and can use this to improve performance, do required changes and get feedback.

You are offered courses like Business Analytics, E-strategy & Management Information Systems, Data Management, Data Visualization, Risk Management & Decision Making etc. After completion your job position will be as Information System Analyst, Business Development Manager, Information Systems Coordinator, etc. and offered an average salary of INR 4,00,000 to INR 9,00,000 per annum.

9. MBA in Global Management

Duration: 2 Years

MBA in Global Management is a popular course among different specialization of MBA. In this course students are taught different cultures and how these international or multinational institutions allow their ideas in various countries and markets.

You can take additional subjects like Business Analytics, Global Management, Global Economics International Legal and Tax Framework, Corporate Social Responsibility, etc. You can join institutions as Business Technical Consultant, Strategic Business Consultant, Marketing Executive, etc. with an average salary of INR 3,00,000 to INR 12,00,000 per annum.

10. MBA in Engineering Management

Duration:  2 Years

In this course, students are taught how to deal with when you are involved with engineering concepts, practices and systems. Students will get training and get ideas how to do comparison of various engineering solutions, check risk and implement the solution to improve organization’s performance in technical areas.

You have also options for other subjects such as Research Strategies, Manufacturing Methods, Experience Design, Innovation and Leadership etc. You will have many job opportunities after the completion of this course like Project Engineer, Engineering Consultant, Engineering Project Manager and many more.

An average salary of an MBA in Engineering Management is INR 4,00,000 – INR 15,00,000.

11. MBA in Technology Management

Duration: 2 Years

Students who have passion about technology as well as have a good understanding of its strength, affect and risk. Students who pursue this course will be engaged to improve efficiency of the organization, outputs and services by discovering new software and hardware technology.

Apart from business and management Subjects, you will also have classes of Technological Advancements, Technology Management, Research and Development (R&D) etc. The posts you can be offered as Information Technology Consultant, Product Development Manager, Chief Technology Officer etc. and an average salary of them approximately INR 3,00,000 to INR 13,00,000.

Also Read: Unique Career Options in India 2021

Frequently Asked Questions (FAQs)

Q1. How much I have to pay fees for MBA in Entrepreneurship?

Ans: There are many good quality B-school which offer MBA in Entrepreneurship and fees varies from college to college which is approximately 4 lakhs to 15 lakhs.

Q2. What are the job profiles for MBA in Entrepreneurship if I don’t want to start my own business?

Ans: MBA in Entrepreneurship not only for those who wanted to start their own business. You can join as Business Reporters, Business Consultants, Sales Managers, New Venture Developers etc.

Q3. What is the meaning of MBA in Dual Specialization?

Ans: It is a 2-year course where students are able to get knowledge and become expert in two different areas.

Q4. Which MBA Specialization are paid higher?

Ans: MBA Specialization like Finance, Marketing, Entrepreneurship are paid higher.

Q5. What is the difference between the eligibility of having regular MBA and specialized MBA?

Ans: Literally, there is no different between regular MBA and specialized MBA. Both of them requires 50% aggregate in graduates. So, students willing to do MBA after graduation can pursue in various courses.

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