About the Future and Scope of MBA

• Well, opting for a Postgraduate program is not an easy proposition.
• It demands an extensive understanding of the program along with its area of specialization to pursue it.
•  Every individual must explore the scope of specialization, its future challenges, and progressive demands before selecting the appropriate specialization. 
• Many MBA aspirants choose the specialized domain as the direction to a progressive career and be fruitful.
• Selection of the progressive specialization and the best management institution which may assist in reaching the target.
• MBA programs offered by Rai Technology University are a step ahead in inducing brilliance and developing masterminds of the future.
• Let’s explore the scope and parameters of an MBA program before opting for it since the Master’s in Business Administration is more of a passion than a course.

Scope of the program

• In the present era of digitalized and technology-oriented systems, Business Administration demands emerging technology, tools, and applications in its specializations like Information Technology Management, Business and Data Analytics, International Business, Digital Marketing, Logistics and Supply Chain, Banking and Finance, Rural Management, Business Process Reengineering, Human Resource analytics, financial analytics and many more. 
  
• Opting for the right specialization is based on passion, pre-requisite knowledge, and capabilities.
  
• The target may be attained by relevant engagement or assignment that satisfies your professional passion, exponential learning, and career growth.
  
• Information Technology Management (ITM): It is an emerging area that collaborates with Management and Technology. The core objectives and outcomes are managing and handling integral aspects of the IT systems in the business domain. Its working scope extends to comprehensive domains like internet-based businesses, Data handling, Database management, software and hardware, the e-commerce industry, Business networking, etc.

• Human Resource Management (HRM):  A specialization and career in Human Resource Management is centered around managing and understanding human relations within an organization. With a blend of various functional areas, the key objective is on hiring the best-suited professionals for the organization. This is a popular stream opted for by many aspirants and possesses great career opportunities with immense growth prospects.

• Business Analytics (BA): The specialized area of Business analytics focuses on knowledge in handling Business data. A data analytics MBA professional is responsible for the analysis of unstructured chunks of data into valuable information that can be used by organizations for valuable insights. In brief, it’s about the usage of Business data. In the present scenario, the organizations/industries analyze the data to predict the prospects, market trends, scope, and progress. The analytics has three zones: Descriptive analysis, Predictive analysis, and Prescriptive analysis.  So, with data and analytics, there is a spectrum of scope to grow in every domain.

• Marketing and Digital Marketing (DM): It is a blend of learning technical as well as soft skills. A marketing professional analyzes the market trends and frames a strategy to reach potential customers. Post the study of Marketing, the opportunities exist in various domains like hospitality, Medical, retail, FMCG, etc.  The other prospect of Marketing is Digital Marketing be it products or services; since traditional Marketing is getting slashed. It leverages the internet and digital technologies, such as computers and smartphones, to connect with customers through email, social media, advertising, and multimedia messaging through mobile and web. Both marketing and digital marketing are prospering fields to build a progressive career.

• Logistics and Supply Chain Management: The specialization in logistics and supply chain management yields professionals who are well-versed in managing transportation, production, procurement, storage, and management of products as per market demand. All product-based industries require such a professional to keep the processes intact with expertise and knowledge.

• Banking and Finance: The specialization of the banking and finance industry is in demand. The professionals should be well-versed in the techniques, tools, and principles of accounting, banking processes, insurance, loans, taxation, stock market, and other related verticals. With the increase in participation in the banking and finance sector, there is a demand for financial analytics for profound individuals in the banking and finance sectors.

• Rural Management (RM): Rural Management and development is a dynamic process, which is mainly concerned with rural areas. The objective is to raise the social and economic status of the rural sector. To make it contextual to develop rural areas through experiential learning, live projects, etc. The program is basically about features like rural states and urban communities in India with significant changes in the system affecting the livelihoods of millions of rural citizens.

Inference: 

• The program MBA can help speed up the learning process with a more focused approach.
• The MBA degree validates the leadership skills required for the job and signals the employers about the readiness of the degree holder to level up.
• MBA graduates tend to have certain business skills in common, most notably workplace skills, analytical skills, and soft skills.
• Companies are keen to hire MBA graduates due to their advanced knowledge and may be more marketable during a job search with the degree on the resume.
  
  Author: Dr G.G. Sastry