MBAs come in all shapes and sizes but choosing an area of specialization can be tricky if you aren’t familiar with what’s available. Selecting an MBA pathway that’s right for you will depend on an assessment of your skills, interests, and career aspirations. To help you out, we’ve provided a list below of the top MBA specializations and what they offer.
Entrepreneurship
Many young graduates have their sights set on starting their own business, which is why entrepreneurship is now an MBA specialization in its own right. Students embarking on an MBA will learn key skills about how to launch a successful start-up as well as how to manage the business long term.
Those specializing in this field will also learn about market research, analytics, business development, how to pitch and secure finance, as well as the ins and outs of what makes a company succeed and/or fail.
Other soft skills that students learn in this area include networking, teamwork, leadership skills, creativity, and flexible decision making. If you have your heart set on running your own company, the entrepreneurship path may be the one for you.
General Management
Generalized management is one of the most popular specialization pathways for MBAs. Students in this field learn a variety of management skills and perspectives that can be applied to different industries.
Some of the other key skills included in this pathway are critical thinking, business management, leadership, and how to assess and meet customer needs, which can be applied to areas such as human resources, finance, data analysis, leadership, and marketing. These skills are valuable in the workplace and could give you an edge. If you’re interested in generalized management, Suffolk University Boston offers in-depth online MBA degrees that you can undertake remotely. Click here for more information on why you should consider taking an MBA.
Strategy
Strategy MBAs are designed to teach students how to make big-picture business decisions that will improve overall company performance. Unlike a regular MBA that focuses on specific areas such as finance or marketing, strategy MBAs equip students with the knowledge of what factors can influence the success or failure of a company.
Therefore, strategy MBAs are useful across any industry in business as the skills are highly transferrable. Students learn about strategic problem solving, risk management, consulting, and long-term business planning. They are, therefore, well-trained for executive or C-suite-level positions.
An MBA in strategy can often lead to roles such as:
- Management Consultant
- Product Manager
- Strategy Manager
- Chief Operating Officer (COO)
- Finance Manager
International Management
International Management is another popular MBA specialization because it opens the door to a much wider market. Students pursuing an MBA in this area will learn about how legislation works in different countries, as well as key skills in decision making, adaptation, enterprise, and sustainability in an ever-changing international business environment. International management students can also specialize further in areas such as:
- International Markets
- International Law
- International Accounting
- International Operations Management
- Global Business Strategy
- International Financial Management
If you are interested in advancing your career by widening your employability outside your home country, an international management MBA can be an excellent choice. This area is also becoming more popular as businesses increasingly operate with remote working capacity.
Finance
MBAs in finance management teach students about how to manage company accounts while pursuing financial objectives. In particular, students learn about asset management, risk management, financial planning, and more. This MBA pathway is ideal for those who have an aptitude for analysis and an interest in financial models and the stock market.
Some of the jobs that open up with an MBA in finance include:
- Accounting Manager
- Management Consultant
- Financial Manager
- Corporate Controller
- Chief Financial Officer (CFO)
In general, financial managers are responsible for a wide variety of roles, such as managing all monetary reports, budget handing, and coordinating venture exercises.
Marketing
With ever-increasing advances in digital business, marketing has changed drastically over the years and is still a growing field. Therefore, tose pursuing an MBA in marketing will not only learn about how to promote a company’s products and services, but also about how to launch marketing campaigns, how to create successful brands, and improve customer experience and communicate with them effectively. Students also learn the ins and outs of digital marketing, social media management, new product strategy, consumer and brand insights, and operations management.
Some of the core areas of focus with an MBA in marketing include accounting, finance, micro and macroeconomics, and management. While a marketing MBA can be used in a number of industries, this pathway is ideal for those who want to work in digital media, healthcare, technology, financial services, business development, and entertainment.
IT or Technology Management
Due to the rapid increases in technology, MBAs in information technology are in high demand. Those who pursue this degree pathway will be experts in how to strategically manage and coordinate an organization’s tech requirements, how to plan and introduce new IT systems, as well as how to set up and manage cybersecurity and data security practices.
Students on these courses will typically learn about computer applications, data management systems, web designing, system analysis, and design, data mining, and more.
Some of the jobs that become available with an MBA in IT or technology management are:
- IT Specialist
- Quality Analyst
- Chief Technology Officer (CTO)
- IT Director
- Application Programmer
- Computer Information Specialist
- Information Systems Manager
- Business Analyst
Operations Management
Operations management is a strategic area that involves ensuring the day-to-day operations of an organization run smoothly. This requires an aptitude for operations and procedures and how to run them effectively within specified budgets. Those pursuing an MBA in operations management will likely be aiming to work for large corporations or organizations that require knowledge in logistics, supply chain management, and quality assurance.
As this area requires a great deal of responsibility, students on this course will often learn about business policy and strategic management, business skill development, operations strategy, project management, operations research, and more.
Jobs in operations management can vary, but some of the more common roles are:
- Supply Chain Program Manager
- Process Manager
- Area Operations Manager
- Inventory Control Manager
- Logistics Manager
- Plant Manager
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