Which MBA Specialisms are Most In-Demand for 2021?
The Master of business administration (MBA) degree is one of the most popular postgraduate degrees as it offers those who are looking to get into administrative and leadership positions a massive edge. Different MBA specialisms not only determine what you will study and the skills you gain once you complete them, but they can also impact your ambitions, career plans, and career paths. It is therefore important for anyone looking to apply to a specialized MBA program to consider what that specific specialization offers, as well as the career paths it leads to. Below, we have listed the MBA specialisms that are incredibly popular.
MBA in Marketing
All businesses want to reach the right audience and customers to ensure the sale of their products and services. For this to work, they need someone with the right marketing skills. An MBA in marketing incorporates various areas of study including reading and predicting consumer and marketing trends, marketing strategies, relationship-building, customer and public relations, sales promotion and so much more.
An MBA in Marketing has always been in demand as businesses are always looking for creative and innovative marketing leaders to ensure their products’ success. In some cases, graduates might veer away from promoting sales and coming up with strategies and instead concentrate on creating a brand image and help improve customer experiences.
MBA In Project Management
An MBA course in Project Management teaches the basics of project planning as well as how to come up with reliable project schedules. Students are also taught about the execution of set plans, handling multiple projects simultaneously and seamlessly, as well as how to launch a project successfully.
Businesses need people with exceptional planning and multitasking skills, and an MBA in Project Management gives graduates the necessary skills to thrive in such an environment. Graduates also learn all the processes required for the successful completion of a project as well as how to meet the requirements and deadlines successful project completion requires.
This degree is in high demand because the skills you get from it are valuable for any business. However, most opportunities for holders of an MBA in Project Management are in IT and software development, construction, and consultation.
MBA in Human Resource Management (HR)
Businesses and organizations need the right workers in place to ensure they are functioning properly as well as meeting their goals and objectives. An MBA in HR helps students understand the management principles of human resources. They handle the hiring and management of employees and are usually the link between management and other employees.
Any business that employs more than a few people will have an HR department, meaning that there is a reasonable demand for those with an MBA in Human Resource Management.
MBA In Finance
Money is arguably the most important resource a business has because it dictates almost everything a business does. Cost is involved in everything from planning to marketing and expansion, and this is why those who have an MBA in finance continue to be in such high demand.
An MBA in finance includes studies in finance, economics, leadership, strategy, and marketing. It allows graduates to get into different specialisms including accounting and global or managerial economics. Because of its popularity, many universities and colleges offer online MBA in Finance programs. When you earn your MBA online through Aston University, for example – a university offering accredited MBA and M.Sc. programs – you will learn the right skills to work in different industries including investment banking, corporate finance, financial consulting and so many others.
MBA in Supply Chain Management
Although this is a new field of study, the supply chain and logistics segment is getting a lot of interest. Additionally, global commerce requires that businesses have people in place who can ensure that their supply chains keep moving as required.
An MBA in Supply Chain Management allows graduates to manage and organize the movement of products from the manufacturer to a supplier and from a supplier to a consumer or retail store. With this degree, you can either head a company that handles logistics and supply chains or work in a business with an extensive supply chain and logistics department.
With this degree, you will have extensive knowledge about controlling, implementing, and planning the flow of products from one party, be it between any combination of manufacturers, suppliers, distributors, and consumers.
MBA in Analytics and Big Data
As businesses collect more data than ever before, they need people who can help them make sense of this data as well as help them gain insights from this data that can be used to make decisions backed by data. The growth of big data has led to an increase in the popularity of an MBA in Business Analytics and Big Data. Businesses need people who can collect, sort, and analyze large volumes of data.
In addition to analytics, students are exposed to other disciplines including marketing intelligence, predictive analysis, and econometrics. Once you graduate, opportunities exist in marketing, finance, supply chains, and many other areas.
MBA In Artificial Intelligence
Artificial intelligence (AI) has become an important part of our work. Businesses are using technology that intersects with AI in some way and this makes a career in AI desirable for applicants. Also, this degree allows graduates to become leaders in the world of AI.
An MBA in AI gives graduates the quantitative and technical skills they need to thrive in this space and helps them develop the kind of strategic thinking required in data-driven decision-making.
MBA in International Business
This is a two-year degree program that has become popular among younger people. Its popularity is due to businesses needing people to represent them at an international level, whether they are expanding operations or need a presence in a new country or region.
With this degree, students are taught how foreign trade management works as well as the best ways to increase exports and imports through extensive research. Graduates are also skilled in identifying challenges that face international businesses such as legal and logistic restrictions, international economics, the influence of different languages and cultures on businesses and so much more.
It is clear to see that no matter the specialization you choose, you have a lot of career options and paths to follow. All the above specialisms give you the skills, knowledge, and expertise you need to thrive in different positions and settings.