What are different MBA specializations
Focus and specializations
An eternal point of contention, which also shows up in press releases and in university advertisements, is the issue of “generalist” versus “specialized” programs. The existing trend towards specialization is repeatedly discussed controversially. The market shows how much the statements on this depend on individual people in the business schools. Providers who categorically rejected specialized MBAs two or three years ago are suddenly offering just such programs.
Originally, the Master of Business Administration (MBA) was supposed to offer a generalist economic education for non-economists and thus convey a wide range of management knowledge and leadership skills without focusing on a specific area. This position is changing watching. Further information can be found in the 2014 reformed international MBA guidelines of the EFMD and EQUAL / EQUIS.
In addition to general training (in organization, management, leadership) there is an increasing number of offers that focus on special functions (personnel, project, quality management) or special industries (public, cultural, sports, health management) to prepare.
A special feature can also be found in the “international” full-time MBA programs. Many focus on finance, banking, marketing and consulting. These are all industries in which a high return on investment is apparently expected from the students.
The number of specialized MBA programs is increasing rapidly worldwide, despite ongoing criticism. Many universities try to attract students with niche programs and thus build up a "brand name" in a subject. The competition is fierce and the niche programs offer a good opportunity to establish yourself in the largely established market. In addition to numerous unknown universities, the top providers in the USA and Great Britain are now increasingly relying on the specialized MBA programs. For example, the Haas School of Business at the University of California at Berkeley, the Massachusetts Institute of Technology's Sloan School of Management and the Wharton School now offer specialized MBAs. Often as "dual degree programs" in fields such as Real Estate Management, Sports Management, Biosciences, Electronic Commerce and Healthcare.
In the UK, over 30 percent of all MBAs are specialized programs. Including unusual programs such as: MBA in Islamic Finance, MBA in Agribusiness Management, MBA Food Business Management, MBA Oil and Gas Management, Action Learning MBA, MBA in Shipping and Logistics, MBA in Technology, Market and Organization, Risk and Insurance MBA, MBA in Corporate Social Responsibility.
This trend has been observed in Germany for years. Around 70 percent of the MBA programs in Germany have a focus or specialization. However, research for the 2016 MBA and Master's Guide revealed that a rethink is taking place. It can be seen that the share of general management programs in Germany has increased by almost five percent over the past two years. Furthermore, universities are increasingly planning specialized programs without awarding an MBA degree. Universities in particular see an opportunity here, as the market for part-time MBA programs is already predominantly occupied by universities of applied sciences.
Further education master programs
Further education master’s programs that offer a direct subject-specific reference are often called “Masters in Accounting and Finance” or “Masters in Banking and Finance, in Communications, in Engineering, in Human Resources, in Hospital Management, in Marketing” up to "Master in Water Management" or "Executive Master of Business Marketing".
Internationally, the Masters in Management (MIM) degrees are also becoming increasingly popular. Around two thirds of the Masters in Management programs offered worldwide do not require a first degree in economics. This is the result of the information platform “Master in Management Compass” after an evaluation of 274 Master in Management programs. Students and graduates of non-economics subjects should be pleased with the result: You can complete a management master’s degree directly after completing your bachelor’s degree in any subject. At www.mim-compass.com, interested parties can search almost 300 Masters in management programs from 30 countries free of charge.
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