Career prospects for Offbeat MBA specializations and B-schools which offer them
MBA in Marketing, Finance, International Business, Human Resource and entrepreneurship is a regular choice of students who want to make a career in the business world. But, there are many offbeat specializations which can be picked and pursued for prosperous careers. There are so many innovative options to choose from and the best part is that you can also craft a successful career from it.
Let’s talk about some of these off-beat courses in detail.
1. MBA in Hospitality/ Hotel Management – Hospitality sector is one of the emerging sectors and means much more than just hotels and food. It includes all the important aspects of the hospitality industry, viz., restaurants, event management, theme based parks, cruises to an array of various other fields within the hospitality industry.
An MBA in Hospitality Management program is designed to produce highly skilled and proficient professionals who are capable of serving an increasingly dynamic hotel and tourism industry around the world. There are immense career opportunities available with growing number of chain based restaurants, hotels, spas, holiday resorts that are escalating everywhere as part of the the food and hotel industry.
Some of the colleges which offer two-year full-time MBA in Hospitality Management are International Institute of Business Management (IIBM-New Delhi), Gems Business School (Bangalore), Amity School of Hospitality, Institute of Hotel Management (IHM-New Delhi). Institutes such as the University of California, Los Angeles and Vanderbilt University also offer MBA programs in Hospitality management.
2. Retail Management – Over the past few years, the Indian retail sector has witnessed a boom. The domestic business majors such as the Future Group, Reliance Group and Tata Group and others have developed nationwide retail chains. Retail management is the key here. A lot of attention is being paid to store layout, design and buyer psychology. On the other hand, there are aspects such as category management, negotiation with manufacturers and inventory management which form the crux of retail management business.
So, in order to prepare students to build a career and be ready to face the challenges of the retail industry, KJ Somaiya Institute of Management Studies and Research (SIMSR), Mumbai and WE School, Welingkar Institute of Management Development and Research provides a two-year full-time Post Graduate Diploma in Management-Retail Management/Retails Management.
The University of Bedfordshire, University of South Wales, Syracuse University in New York, and Florida International University also provides specialized luxury management program.
3. Media & Communications – The Indian Media and Communication industry is one industry that is evolving at a very fast pace. In order to meet the demand and needs of this industry, you should be well-versed with the industry’s strategic tools like advertising, public relations, image management, etc.
Institutes which offer media and communication management specialization are Mudra Institute of Communication, Ahmedabad (MICA) – Post Graduate Diploma in Communications, Symbiosis Institute of Media and Communication (SIMC), Pune – MBA in Communication Management and Post Graduate Certificate Programme in Advertising Management and Public Relations (PGCPAMPR – online).
Other institutes like IPAG Business School, France- MBA in New Information and Communication Technologies, Kaist College of Business- MBA Information & Media and Metropolitan College of New York- MBA in Media Management, provides courses in similar fields.
4. Luxury Management- Luxury management is the latest addition to the course module of B-schools. A master in luxury management is specially designed for those MBA aspirants who want to work in the luxury sector. In order to meet the demands of the luxury customer and elite class, this program allows you to specialize in areas such as fragrance and cosmetics, and wine and spirits.
SP Jain Institute of Management & Research (SPJIMR) – Master in Global Luxury Management, Indian Institute of Management (IIM-Ahmedabad) - Luxury & Lifestyle Brand Management for 4.5 months, Luxury Connect Business School (LCBS, Gurgaon) - Post Graduate Diploma in Luxury Brand Management.
The International Luxury MBA programs include SDA Bocconi (Italy) -Masters in Fashion, Experience & Design Management, ESSEC Business School (France) - Luxury Brand Management MBA program, Harvard Business School (Cambridge, MA) - Luxury Brand Management.
5. Fashion & Apparels - Fashion is reflexive of one’s state of mind and since most of the prevailing styles in behavior influence the newest creations of textile designers there is a need of a manager for this business as well. With the fast paced economy, fashion also keeps on evolving at a rapid pace. Whatever is in today will definitely become fad tomorrow. With the advent of major international brands, the growth of e-commerce and exploding consumer demand has led to the evolution of an independent MBA specialization i.e. fashion management. MBA in Fashion & Apparels will provide you with the knowledge about product from its development, planning, procurement to negotiations, etc. It will also help students apply for senior managerial roles as well as become specialists in the industry.
Colleges such as Amity Institute of Fashion Technology (Noida) – MBA in Fashion Management/Fashion Design Management, ITM Group of Institutions (Institute of Fashion, Design and Technology- Pondicherry) - Advanced Diploma in Fashion Design/Advanced Diploma in Fashion Marketing and Nitra technical campus (Lucknow) offers PGDM Program in Fashion Retail Management.
International colleges also provide similar specialization, as LIM College, New York- MBA in Fashion Management and Entrepreneurship, International Fashion Academy (IFA – Paris) - MBA in Fashion Business, IPAG Business School (France) - MBA in Fashion and Art Management.
There is no dearth of courses and specializations offered by business schools around the world but what you need to be clear with the objective and motivation for opting such specialization. Also, analyze whether the chosen college fits your requirements in terms of its faculty, industry connect, placements offered across the industry sub-sectors ranging from high-end national and international brand and so on.