how to do MBA and scope of MBA
Hi Soail,
MBA is a kind of degree that will find perennial scope in any country. There is a lot of scope for an MBA graduate in India especially because when compared to the absolutely developed nations like U.S, U.K, Canada etc, India is still a developing country and any developing country needs business. Now to monitor or grow these businesses, you need MBA degree holders.
Regarding, how to get into an MBA college, please read my article at the link below,
https://www.careers360.com/qna/question/608012
Regarding the scope of MBA, then let me walk you through the various opportunities that an MBA graduate will have after receiving an MBA degree,
Banking and Finance SectorThis includes security and investment analysis and also portfolio management. The jobs available are with banks, security firms, insurance companies, and various financial organizations. They require a professional to make right choices about investments. Other related job profiles are in Corporate Treasury, Business Operations and Credit Analysis. These jobs are mostly offered by companies like Goldman Sachs, J.P. Morgan, Nomura, RBS, Barclays etc.
For MBA Finance the following are the hot shot profiles
- Cash Managers
- Risk and Insurance Managers
- Credit Managers
- Management Consultants
- Investment Banking Associates and later Investment
- Bankers
- Treasurers and Finance Officers
- Chief Financial Officers supervise all financial and accounting operations, strategies, and policies of the company
Information Technology (IT) or Management Information Systems (MIS) is been emerging as a highly sought-after MBA specialization. Students with IT background (as a software engineer or IT graduate), MBA IT can open up positions like System Analyst, Technical Systems Manager, Technical Consultant, and Business Development Manager and can even lead to the position of the Chief Information Officer (CIO) or Chief Technology Officer (CTO). IT, ecommerce, and related industries often offer good placements to MBA IT graduates.
For MBA IT the following are the high demand profiles
- Business Analyst are required to interact between customer requirements and document them properly for developers
- Business Development Managers prepare presentations for clients and translate technical innovations of a company in terms understandable by a layman
- Sales or ERP Consultant deal with customizing ERP solutions (like SAP) to suit client requirements
- Project Managers are directly involved with implementing a project - right from planning and estimation to managing resources to time management
- QA Managers are responsible for assessing and controlling the quality of the software solutions being provided to clients
- Functional or Process Consultants are required to configure and re-configure processes and chalk out verticals to complete efficient operations within an IT company
Human Resource is one of the demanding jobs in the corporate world. Recruitment and Selection of personnel, deciding Compensation of Employee, Training and Development and Performance Appraisals are all decided by an HR manager. Aspirants of MBA in Human Resource can also develop themselves as Industrial Relations Managers in global companies.
Human Resources Management usually deals with internal marketing of a company. How the employees work for and how well they understand HR policies of the firm depends upon HR. India has started noticing a big change in the way people view HR professionals. Salary packages are improving, and educational institutions having specialisation in their Human Resources programmes are getting adequate support from the corporate world.
While each specialisation is superior to each other if we look at them in silos, practically this doesn’t work the way we perceive. Each and every specialisation is interrelated to one another and effective functioning of all of them together can boost a company’s performance to where it actually positioned itself. I recommend that one must carefully consider one’s potential and interest in choosing which specialisation suits him or her the most.
All the very best!!
Get a bachelor’s degree in a subject that interests you. Since the MBA is such a broad graduate degree, you can choose practically any major. Think about what you want to do after you get your MBA and choose your major based on that.[1]
If you are interested in starting your own robotics company, you might choose a mechanical engineering degree.
If your goal is to be Chief Financial Officer (CFO) of a major corporation, you might major in accounting.
Take the GMAT or GRE. The GMAT is the most popular standardized test for getting into business school, but many business schools will accept either the GMAT or the GRE. The GMAT emphasizes quantitative data, such as math skills, while the GRE has a stronger emphasis on vocabulary.[3]
Take a diagnostic exam for each test to see which one you’ll do best on. You can take either test multiple times if you don't get the score you want on the first try.
Plan to spend 3-6 months preparing for this exam. Your score will be a major factor in whether or not you’re accepted to your top choice for business school, so don’t wait until the last minute to start preparing. Take a prep course, hire a tutor, or study with friends who are also hoping to go to business school
Get real-world work experience. Most MBA programs don’t hire candidates who are straight out of an undergraduate program. If you want to go straight from college into business school, having a job during college that will show the admissions board that you already have some business knowledge. Otherwise, plan to work for at least a year or two before going into an MBA program.
Any job which requires business skills will be helpful, but office jobs are especially preferred.
Research schools to find the right match for your goals and experience. You should spend a lot of time thinking of what you hope to get out of business school during the research process. Be honest with yourself about your strengths and weaknesses, and find schools which are a good match for your unique academic and professional goals.
Choose schools which are accredited by the Association to Advance Collegiate Schools or Business (AACSB) to appeal to more employers after school.
The scope of MBA course is increasing day by day. MBA is one of the big job oriented professional programme and the most one which has been sought by the students.
Once you have completed your degree, you have a great job opportunity in the industrial world. You may the manager or executive in term of designation.
The management term is most suited to the managers and that’s why it is the way, where you can reach on the top of the height as soon as possible by using your leadership and working proficiency.
An MBA professional always plays a vital role in his/her company and this is why, he used to keep in touch with the board of directors.
No need to specify the companies who recruit the MBA professionals. The all sectors including government and public have various industries, companies, institutions or related organizations, come in the job prospective fields for an MBA professional.
Some job profiles are listed here:
Brand Manager
Account Manager
International Business Manager
Marketing Executive
Business Technical Consultant
Business Development Executive
Marketing Manager
Management Consultant
Salary
“Handsome salary packages are offered to MBA qualified candidates”.
Management sector is one of the highest paying sector. The salary is no issue for the right candidates who have a good leadership, decision making skill, enthusiasm and good academic background.
The initial package in India is around Rs. 2 to 3 lakh per annum but the maximum is unlimited. Also the increment in this sector is quiet good and depending on your capability, you can reach up to six figure income in quick span of time.
Books & Study Materials
Here we are providing a list of some popular books to study MBA:
The Personal MBA: Master the Art of Business by Josh Kaufman
The New Business Road Test by John Mullins
The 22 Immutable Laws of Marketing by Al Ries & Jack Trout
The Psychology of Selling by Brian Tracy
12: The Elements of Great Managing by Rodd Wagner & James Harter
The Unwritten Laws of Business by W.J. King
Hope you find it helpful
let me know in the comment box if you are having any further doubts
thanks
Good Luck!
Haii soail!! Your interest towards MBA will definietly get you into a bright future.To do MBA firstly,you should have an bachelor degree in which you are interested in from an recognised university.Then you take GMAT or GRE test,plan for 3 to 6 months preparing for exam.Because score plays the major role here.It is the degree which always have the scope in any country, mainly in the developing countries like India.New companies are raising needs HR managers, you may concentrate on it also.Hope i have helped you .Good luck soail!!
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