It is of prime importance to select the right field of management to specialize in, as normally this would be the discipline in which you would get your first job and possibly even make a career.
The first step towards this is to understand what each specialization is about and what do they have to offer. Although the number of specializations offered by universities is increasing day by day, they can be classified broadly into the following categories:
Marketing - At the Front End of Business
Look forward to a career in sales, brand management, or market research. You need to possess excellent communication and resource mobilizing skills. Marketing plays a key role in the industries such as fast moving consumer goods (FMCG), advertising and market research, sales & distribution, and product or brand management. A large number of CEOs often belong to this discipline.
Operations Management - Driving Back-End Efficiency
If you exhibit an eye for detail, the ability to negotiate, can keep your calm in tough situations and have sound technical knowledge, manufacturing, sales and distribution companies are likely to knock on your doors. Operations play a key role in the fields of quality control, material management, productivity improvement, inventory control, production planning, supply chain management and logistics.
Finance - It’s All About the Money
This field requires extremely high analytical ability, playing with numbers and balance sheets and needs an individual to be fond of being at the complete back-end. With a specialization in Finance you can look for exciting careers in banks, financial consultancies, or financial institutions. Finance plays a key role in the fields of consumer and investment banking, institutional finance, merchant banking, corporate finance and international finance.
Systems Management - Making Technology Work
Involves custom-development of IT solutions in all areas, from putting up online daily sales to developing Enterprise Resource Planning (ERP) solutions. Systems Management is normally an integration role between client (internal/external) and programmers; and generally require people with good technical skills coupled with good business domain knowledge. Systems plays an important role in the fields of systems consultancy, account management/project management, systems department of organizations, business development and sales & marketing.
Human Resource Management - A People Manager
You focus on people management and form the backbone of any organization. You need to be a good communicator and should present yourself as competent, dependable and charismatic. It plays a key role in the fields of human resource development, personnel management and industrial relations.