Master of Business Administration full form of MBA is one of the most popular internationally-recognized post-graduate programmes across the globe. The two-year programme is a gateway to plenty of job opportunities in the corporate world. Here are some important facts about the MBA program:
Students from any background - including Science, Commerce and Humanities - can pursue it.
A regular MBA or Postgraduate Diploma in Management (PGDM) is generally a two-year course divided into four or six semesters. However, there are certain private institutes that offer one-year PGDM programmes as well.
One can study MBA in different modes, like Regular, Online and Distance-Education.
The full-time MBA is the most popular among all and includes theory classes, practical projects, and internships.
Fresh graduates, as well as candidates with a few years of work experience, opt for a full-time MBA. Some colleges prefer fresh graduates while some colleges give higher preference to candidates with a few years of work experience.
Benefits of Studying MBA Abroad
1) Adds Value to Your Profile:
The skills which you will gain in an MBA programme can eventually help you land senior management positions. This will ultimately give you the power to formulate strategies and drive the organization whereas earlier you might have been in less critical roles.
2) Career Advancement:
Reskilling, upskilling or simply educating yourself in the same domain and looking at a familiar set of problems through the business point of view will make you eligible for jobs to which you could not apply earlier. The top positions in various industries require an MBA degree as a basic necessity.
You will get a chance to meet some of the brightest minds, who are going to become business leaders of tomorrow. It is an opportunity to meet a pool of talented people from various backgrounds, communities, and nations. This will help in widening your perspective on various important issues.
MBA programs also provide an opportunity to pursue a specialization in a particular industry. In the present world, companies search for the candidates who are experienced in the industry and their business and can also handle the business problem very well. This will not only enhance your job possibilities after MBA but also assures a bright career.
Eligibility for MBA
Although there are no specific eligibility criteria for getting admission in a top MBA college abroad, however, most of the colleges have their own specific requirements for giving enrolment to MBA students. Candidates should have completed their graduate degree from a recognized university for getting into a good MBA college. The graduate degree can be varied as some people have completed their bachelor degree in 3 years and others have graduated with a 4-year degree. So, candidates are suggested to check the requirements of the individual college or university they are applying to get into.
Top Countries to Study MBA Abroad
Choosing which stream to specialize in can be a difficult process for students. It is very important to consider career goals and professional development before deciding which MBA specialization to choose. Here are the top specializations of MBA that are the most popular and in-demand across the world.
MBA in marketing is a dynamic, competitive subject that helps a student understand consumer behaviour, market, advertising and other important fields. The prospective student needs to have excellent skills in communication, marketing and resource mobilization.
MBA in finance makes you specialise in various subjects like costing, budgeting, Capital Management, International finance etc. After studying these subjects the student becomes specialized in financial management which makes them possible to work in the finance department of the organization.
3) Human Resource
This specialization includes diversity, labour markets and emerging economies, mergers and acquisitions and international leadership. If you have good communication skills, are social, have a good personality, and are dependable as well as confident, then an MBA in Human Resource is for you.
This stream helps you understand production management or shop floor management. One can study the planning, organizing, and supervising of various production and manufacturing services of an organization. Most students who have done their graduation in engineering go for MBA in Operations as it gives them an edge over others in product development and designing and process optimization.
5) International Business
MBA in International Business provides an in-depth understanding of organizational competencies required by the students for international operations, including specialized functions such as international marketing, import-export laws, finance etc. This degree is not like other MBA degrees where you study general subjects first and then select a specialization. From the first day, the focus of all subjects is on international business.
6) Information Technology
Some prior knowledge about the IT industry is required for pursuing this specialization. IT graduates play essential roles in designing and implementing hardware and software solutions for business problems.MBA in Information Technology is developed to educate potential managers who effectively manage the planning, design, selection, implementation, usage and administration of information and communications technologies.
7) Supply Chain Management
Supply chain Management specialization can be pursued by any stream graduates. This specialization covers inventory management, warehousing and transportation of materials as demanded by a client or a company.
8) Health Care Management
It includes core business skills and practices in the healthcare industry. But it focuses on the particular issues managers may encounter in managerial roles such as hospital administrators, medical practice managers, insurance-company executives etc.
Some Other Specialisations of MBA are as Follows:
Major Scholarships for MBA Abroad
There are hundreds of MBA scholarship programmes for the benefit of students wanting to pursue an MBA abroad. Some of the most sought after scholarship programmes for the MBA include :
Global Study Awards
Central Sector Scheme of National Overseas Scholarship
BrokerFish International student scholarship
The Financial Sumo Educational Scholarship Program
Go Clean Scholarship