Specialised MBA: A Growing Trend Among Students
MBA aspirants are often confused about choosing between General MBA and specialised MBA. To guide students, Dr. G. Revathi, Dean – Academics and Professor of HR at Loyola Institute of Business Administration (LIBA) Chennai writes an exclusive column for Careers360. In this column, Dr. Revathi shares insights about the significance of choosing the right specialisation, some of the top specialised MBA programmes and management institutes offering them. She also mentions the career opportunities one can opt for along with the probable challenges.
Read the full column by Dr. Revathi below.
The conventional Master of Business Administration degree that most of us are familiar with, is a General MBA with specialisations in specific business functions like Finance, Marketing, HR etc. On the other hand, a Specialised MBA is a management degree that is focused on an industry sector (E.g., Aviation or Oil & Natural Gas), a field of work (E.g., Industrial Engineering or Analytics), or like the General MBA, on a business function (E.g., Finance or Operations).
Also, in a General MBA the number of credits for a specialisation or area of concentration would be much less than in a Specialised MBA programme. For instance, at the Loyola Institute of Business Administration (LIBA), Chennai, students need to have a total of 135 credits, of which the minimum number of credits required for a specialisation such as Marketing or Operations is only 15; even for Business Analytics, a new area of concentration introduced this year in collaboration with Tata Consultancy Services, students need only 24 credits to specialise. (A credit is the equivalent of 10 hours of class.)
In contrast, in a Specialised programme the bulk of courses would concentrate on the area of specialisation, while the remaining papers (both core and elective) would be from other areas and thus ensure General Management awareness. For example, the Master of Arts in Human Resource Management & Labour Relations programme being offered by the Tata Institute of Social Sciences (TISS), Mumbai aims to create corporate-ready Human Resource professionals with a sound knowledge of business. One can see from their syllabus that most of the papers focus on People Management supplemented by a healthy sprinkling from General Management as well as other business functions.
These specialised management degrees are not new, with some of them running for several decades now. Among the earliest were the programmes in Human Resource Management offered by TISS as well as the Xavier Labour Relations Institute (XLRI), Jamshedpur, and Forest Management by the Indian Institute of Forest Management, Bhopal.
There are, however, several reasons for renewed interest in them: For one, there is a growing demand for higher education and skills across the globe. Secondly, the recurring complaint of recruiters during campus placement drives is that students lack practical knowledge. Thirdly, the management education segment is seeing an increasing number of players. Hence, both Institutes and students wish to create a USP (Unique Selling Proposition) for themselves.
These issues can be addressed by the Specialised MBA programme whose students would be industry-ready in every sense of the word, their skills being more practical and application-oriented than a General MBA, and customised to a specific industry sector.
Interestingly however, some industry watchers are of the contrary view that this is only a passing fad, and cannot hold out in the long run against the broader and more rooted appeal of a General Management degree.
Career prospects for Specialised MBAs: Opportunities and Threats
Many recruiters like Banking Financial Services & Insurance (BFSI), Telecom, and Retail would be happy to hire Specialised MBAs since they can hit the ground running.
However, it is very important that the college has a strong Placement department. Otherwise, students would be stuck with a narrow set of competencies and thereby limited job options. Also, if the curriculum concentrates more on the sector or industry, and less on business fundamentals, growth to senior positions later could be a struggle in which the candidate could lose out to a General MBA holder. A specialised degree could also constrain career mobility across functions, organisations, or industries in the future.
Hence, ideal candidates for a Specialised MBA would be those who are clear about their area of focus (business function/industry/field of work), or who already have work experience in the same. On the other hand, if one is unsure of where one wants to specialise, or an experienced worker looking for a career change, it might be better to take up a General MBA course where the exposure to various business functions as well as industries would help in deciding where they would like to be employed.
Some of the Specialised Management Programmes and Institutes in the country:
Aviation - University of Petroleum and Energy Studies, Dehradun
Business Analytics - Great Lakes Institute of Management, Chennai
Forest Management - Indian Institute of Forest Management, Bhopal
Healthcare Management - Welingkar Institute of Management, Mumbai
Human Resource Management - XLRI, Jamshedpur; TISS, Mumbai; Management Development Institute, Gurgaon
Industrial Management - National Institute of Industrial Engineering, Mumbai
Insurance Management - Narsee Monjee Institute of Management Studies, Mumbai
Logistics and Supply Chain Management – S P Jain School of Global Management, Mumbai
Retail Management - K J Somaiya, Mumbai; Welingkar, Mumbai
Rural Management - Institute of Rural Management, Anand; NMIMS, Mumbai; Welingkar, Mumbai
Sports Management - National Academy of Sports Management, Mumbai; International Institute of Sports Management, Mumbai
Telecom Management - IIT-Delhi
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Liba CHENNAI - PGDM 2 YEARS Full time - how would be its curriculum
LIBA is located in the heart of Chennai, unlike many other colleges which are quite far away from the city. The college has a consistent placement record.Ethics is given an important focus.Chennai is a manufacturing hub, a metropolitan city, lot of IT companies, SAAS companies hub, automobile hub etc. Moreover well connected to cities through Air, Sea and Land.
Course Curriculum Overview
Excellent faculties we have at LIBA, well experienced, industry people, doctorate holders. The course is well designed keeping in mind the demands of the current envirnoment. In the current COVID situation the College is well equipped to hold online classes without glitches.
Course Fees:INR 1,27,0970
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Excellent opportunities, 41% placements in Marketing and 30% in Finance. IT and BFSI companies were the largest recruiters.
The college through its students conducts several events through its various committees such as the Marketing events, HR events. Business Analytics, Finance and Operations Events. The most famous event is the Chrysalis event.
Loan/ Scholarship Provisions
SBI Scholar loan is offered. Loan processing is fast.The college has tied up with SBI so the process is pretty fast.
Basketball, Football, Volleyball, Tennis, Hockey, cricket grounds, table tennis, Campus has wifi, library is well equipped with all the necessary books for management studies, journals, publications, and kindle e-readers/
Hostels rooms are individual, common washrooms, pantry is there where one could heat food, washing machine, lan cables in rooms, WIFI in the hostel. Hostel food is very good. The hostel also conducts the hostel day celebrations.
Hostel Fee:INR 156000
Tapmi vs great lakes vs liba which is better
TAPMI may have a slightly higher reputation being a constituent of Manipal University, I believe Great Lakes has a huge locational advantage being located near IT, Corporate and Finance Hubs of Chennai and nearby Bengaluru will provide greater career scope and prospects to training and placements. Hence, you may consider Great Lakes over TAPMI and LIBA.
For more information about Great Lakes do follow the link below
With a GOOD PERCENTILE IN CAT , TOEFL and ACCA with correspondence B.sc Accounting degree from OXFORD BROOKES UNIVERSITY and B.Com from University of Madras (distance education) will I stand a good chance in LIBA? I do not have a regular stream Bachelors degree.
There is high possibility that you might get admission into LIBA. But nothing can be told with complete assurance. The best way to find out is that you should try contacting the college authorities and get your query answered directly by them.
You can open the official website of LIBA and there will be a pop up box for help there you can ask your query and provide your contact details and wait for their reply and then you can be sure about it also.
Hope this helps!! :-)
liba part time entrance exam syllabus
All the syllabus for the entrance examination in maintained in the LIBA MBA syllabus 2020.
The LIBA Entrance Test will be conducted in the month of March 2020.
Which among BIMTECh,Bits pilani and LIBA a better option in terms of ROI and Placements?
Both the institutes are good in terms of ROI and placements. Both institutes placement wing has a good record with highest package going upto 17 LPA, the infrastructure of both the institutes is well constructed and all the required facilities are provided.
Faculties are also knowledgeable and experienced.