MBA SPECIALIZATIONS

Marketing Management

Designations like Product Manager, Brand Manager, Market Research Analyst,

Territory Manager and Marketing Manager are all careers for people opting for
the Marketing stream in MBA studies. Marketing has traditionally remained a
very strong specialization option for students because of the elements of
strategy, warfare and creativity in this field. Also whatever be the state of the
market—bullish or recessionary—marketing people are never out of, or in
search of, a job.

Marketing includes Sales, Brand Management and specializations such as

Market Research & Advertising. Sales responsibilities include achieving sales
targets, mobilizing resources such as advertising budgets and executing special
schemes and promotion drives. Marketing responsibilities include new product
development, pricing, market research and sales forecasting. Brand
Management is a progressive field where you are responsible for successful
management of brands.

Product Management or Brand Management, depending upon whether the

product is a manufactured product or a consumer packaged good require
MBAs to control and co-ordinate and take responsibility for the growth and
profit viability of a product. Promotional opportunities are very much there
and a successful Product/Brand Manager might go up the corporate ladder to
Category Manager, to even the Vice-President of Marketing or Marketing
Director.

Service Marketing is a relatively new segment of the Marketing pie, and is being
increasingly seen a separate category because the service side of all
organizations are becoming important to retain customers. This is thus a
parallel track to Product Marketing in many cases, and the main functions in
service sectors like hotels and education. In the service sector, because of the
relative importance of this function of marketing, the designation might be
Marketing Manager, a person who oversees customer relationship, satisfaction
and loyalty.

To help in all marketing tasks, is the very important function of the Market
Research Manager. It is the market researcher who compiles and collated all
data regarding customer demography, tastes, segmentation and database
marketing operations. This job is extremely statistical in nature and requires
specialists with a yen for numbers.

In the advertising world, the Account Manager rules. She performs many of the
functions of the Product Manager, but on the agency side, handling company
accounts and campaigns logistics.

Marketing is the discipline that is the most famous amongst Management

Graduates. People with good communication skills, leadership qualities and
who are raring to go places generally find it extremely interesting. The career in
Marketing has the maximum to offer in terms of responsibility, challenge,
innovation and growth. Thus, marketing can be your bread-n-butter if you are
willing to take the plunge!

Companies that are in the business of selling the following categories of goods.

Consumer Non-Durables (CND) are products that are in-between FMCG

and durable goods, for instance, paints and lubricants. Some of the better
known companies in this category are Asian Paints, Madura Coats, Castrol,
Seagram, UB Group.
Consumer Durables (CD) are goods that are durable, such as a TV set or a
Washing Machine. Companies that are popular recruiters from this category are
Blowplast, BPL, Philips, Titan Industries, Godrej, GE, Whirlpool, Hero Honda
Motors, LG, and so on.

Advertising and Market Research

Leo Burnett, LOWE India (erstwhile Lintas), J. Walter Thompson, Ogilvy &
Mather, Indian Market Research Bureau, ORG - MARG, Gallup.

Fast Moving Consumer Goods (FMCG) are products that have a short shelf
life and are instantly consumed. The front runners in this category are
companies like Procter & Gamble, Unilever, Coca-Cola, Johnson & Johnson,
Colgate-Palmolive, Marico, Cadbury, Nestle, Dabur, Pepsi, Godrej Soaps,
Reckitt Coleman, Gillette.

Finance Management

Careers in Finance and accounting follow one of two distinct paths. An MBA
in Finance can either be in Public accounting or in corporate accounting.

Public accountants provide accounting services to other businesses. Public

accounting firms like the famous Arthur Andersen or KPMG are usually
partnerships and engage in audits of companies and giving their expert
opinions on the financial affairs of the companies. An MBA here can provide a
holistic view of the company affairs and hence works with a broader function
base than, say, a Chartered Accountant or a Master of Accounts (USA). Besides
most audit firms also provide a host of consultancy and advisory services which
an MBA is in a better position to do. The MBA degree’s broad curriculum also
helps him give opinions and suggest solutions on client management, and other
strategic issues.

In Corporate Accounting, an MBA is needed to manage the company’s

financial resources and make sure that there is optimal use of resources.
Therefore, functions like budgeting, financial planning, resource allocation etc.
come under the ambit of the MBA. The designations could be that of Finance
Manager, or Financial Analyst and the career path could lead all the way to
Chief Financial Officer (CFO).

An MBA with a Finance Specialization learns a variety of subjects like

Corporate Finance, Costing, Budgeting, International Finance, Working Capital
Management and Investment Banking, Securities and Portfolio management.
The job opportunities could be in Corporate Finance, Banking, Investment
Banking in leading financial Institutions, Securities Analysis in brokerage firms,
etc. Many people may not be aware that operations in the securities market is
one of the biggest industries in India, or for that matter, in any country in the
world.

This is a career for people generally interested in quantitative skills and who
would like to do a lot of planning, managing of resources and policy formation.
"Number Crunching" is how most people would describe a career in finance!
How best to manage money and its consequences is what Finance is all about.
This specialization is a hot favorite amongst engineers. This is a career for
people generally interested in quantitative skills and who would like to do a lot
of planning, managing of resources and policy formation. "Number
Crunching" is how most people would describe a career in finance! How best
to manage money and its consequences is what Finance is all about. This
specialization is a hot favorite amongst engineers. This is a career for people
generally interested in quantitative skills and who would like to do a lot of
planning, managing of resources and policy formation. "Number Crunching" is
how most people would describe a career in finance! How best to manage
money and its consequences is what Finance is all about. This specialization is a
hot favorite amongst engineers.
As a finance specialist one is expected to be good with numbers and a keen
learner as the function requires one to interface with accounting, auditing,
investor interest management, taxation, etc. A combination of MBA with
finance specialization and Chartered Accountancy is considered a stepping-
stone to a lucrative consultancy career. Firms that hire in this area are:

Consultancies
AF Ferguson, Deloitte & Touche Consulting, Accenture, BCG, McKinsey &
Co., KPMG, Booz Allen & Hamilton.

Banks
Citibank, American Express, Credit Lyonnaise, Exim Bank, HDFC, Bank of
America, HSBC, Standard Chartered Grindlays.

Other Financial Companies

Morgan Stanley, CRISIL, ICRA, CARE, GE Capital, UTI, Lehman Brothers,
ICICI Bank, HDFC, Goldman Sachs and so on.

Human Resources

People are the most valuable asset of a company. This view is now accepted
almost in all sectors and industries. MBAs in this field generally specialize in
Compensation, where they decide on the packages to be given to employees if
they have a knack for number crunching or in Personnel where they are in
charge of Recruitment and Selection, Job Analysis, Performance Appraisals and
the Grievance Redressal Cells. They may also be in charge of Employee
training and development.

Some new areas in HRD are Change Management, when a company adopts
new management practices or after an Acquisition or a Merger. Other specific
sections are Affirmative Action Planning and Equal Employment
Opportunities. These areas ensure that there is no discrimination in recruitment
and that it is done only on merit basis. These areas are not very prevalent in
India, except in the Public sector where Affirmative Action takes the form of
Reservations for SC/ST/OBCs.

Most people say that HR Management is the management of the next

millennium. That is, if you can manage your people well, they, in turn, will take
care of your organization well. This has become the most important
specialization in management over the recent years. Most people say that HR
Management is the management of the next millennium. That is, if you can
manage your people well, they, in turn, will take care of your organization well.
This has become the most important specialization in management over the
recent years. Most people say that HR Management is the management of the
next millennium. That is, if you can manage your people well, they, in turn, will
take care of your organization well. This has become the most important
specialization in management over the recent years.

HRM is all about helping a company reach its goals by focusing on people
management. The two broad categories of HRM are:

1. Plant (Factory) Personnel

The Plant Personnel function of HRD deals with maintaining healthy
and positive industrial relations. The activities here include recruitment,
payrolls, appraisals, administration, and all matters concerned with the
Workers' Union. A stint in Plant Personnel offers exposure to handling
highly sensitive issues such as discipline and union negotiation. Top
firms like ITC, HLL, Coke specifically recruit candidates for the
personnel management function.
2. Corporate Personnel
Corporate Personnel deals with HR activities in the corporate set-up that
includes all managerial and supervisory staff. It covers all aspects from
an employee's entry to exit, such as recruitment, attendance, leaves, pay,
appraisals, audit and exit interviews. A lot of modern HR practices such
as ESOP, 360-degree feedback and flexible timings have been path-
breaking initiatives by some bright HR manager. You should possess
good communication and inter-personal skills and present yourself as
accessible, competent and charismatic. Two well-known HR firms are
William Mercer and Noble & Hewitt. Apart from these all the top firms
need HR professionals as it is one of the basic service functions in every
company.

Information Systems Management

The last few years have seen the emergence of Information Technology
(IT)T/Management Information Systems (MIS) as a major function of any
industry, from being just a departmental function earlier. Indeed, no part of
business is untouched by Information systems because of the growth of e-
commerce and telecommunications. Operations MBAs require IS in
procurement roles. The marketing MBAs use market research, and
segmentation to formulate strategies; Finance MBAs require IS in equity
research and corporate finance and even HR MBAs require IS in Change
Management consulting! This is the reason that more and more MBAs are
taking up extra credits in Information systems and IT even if they major in
some other subject. For people specializing in MIS, the career path is quite
rosy, if skewed in favor of engineers and technical graduates. One can join as
System Analyst, and then go on to Technical Systems Manager and ultimately
on to Chief Information Officer (CIO).

Systems and Consultancy is almost synonymous with computers. Systems

activity is a support function which is responsible for customized-development
of IT solutions in all areas — from automating attendance punching to putting
daily sales and distribution data online, to developing Enterprise Resource
Planning solutions. Consulting is provided to organizations to devise strategies
for new initiatives in IT, Marketing, HR, etc. In the IT Industry, the options
could be Project Management in a software development company like Infosys
and TCS or Sales and Marketing in IT companies like IBM, Wipro, etc.

An Engineer-MBA with a sound understanding of business concepts is seen as

the best fit for the job of a project manager in software development, but a
non-engineer is no disqualification either. For a successful Systems and
Consulting career, you have to possess good analytical skills, be a good team-
player and have an unending quest for knowledge.

Companies that usually recruit for Systems are:

IT Companies: SAP, Motorola, Satyam, HCL, TCS, Infosys, I2 Technologies,

Wipro Infotech, Mindtree Consulting, etc.

Over the past one decade the thing that has most astonished people in terms of
growth is the IT Industry, popularly referred to as "INFOTECH" or
"SOFTWARE". In all spheres of life, computers are becoming part and parcel
of all human endeavours and a career in computers shows unmatched promise,
potential and a veritable goldmine in terms of innovation.
India too, has not been far behind as far as "Software Development" or
Infotech growth. With the Government's policy of reforms in 1991, the entire
Infotech market has seen a quantum leap. This has enthused job opportunities
for computer-savvy individuals like never before. But these days a degree in
Computers is not enough. Generally most industries seek graduates who have a
flair in both Management and Computers. For such people, the career is an
MBA in Systems.
A major boom in the next five years is expected in the field of Internet related
Electronic Commerce. In fact, most of the IT majors are concentrating on this
area as it promises one of the highest growth rates due to the fact that India
still has one of the lowest per capita PC penetration. Once the boom starts,
experts predict it would be mind boggling. In fact, several enterprising young
people have started companies that are dabbling in E-Commerce already.
Engineers are best suited for a specialization in Systems. By the way, did you
know that the world's largest bookstore is a website? (www.amazon.com)

Manufacturing Management

In Operations Management the two basic divisions are the Manufacturing or

Production Operations and the Service Operations. The basic purpose is to
increase efficiency to its optimal level. Most MBAs in this line complement
their Operations specializations with a lot or credits in IT and Systems. An
MBA might start off as a Manufacturing Manager, Product Supervisor and go
on to Technical Product Manager of the division. Further Career growth may
include General Manager of a division and finally up to Chief Technology
Officer (CTO) of a company. In the service sector Operations include the same
overall functions of Quality Assurance and Process Improvement, with focus
on capacity constraints, queuing and outsourcing processes. Production
specialization is generally preferred by engineers. Generally people with very
specific inclination towards Production / Shop-floor Management go in for
this. Manufacturing is one of the most important areas for any product-based
business. Many techniques and theories have been developed by management
schools which focus on issues relevant to the area. These skills are specially
useful to those who are engineering graduates. The four types of opportunities
are in :
1. Productivity Improvement
2. Quality Control
3. Inventory Control
4. Production Planning

Operations Management is a comprehensive production-related responsibility

that includes Inventory Management, Vendor Development, Purchase
Management, and also areas which demand multi-disciplinary skills like Supply
Chain Management and ERP (enterprise resource planning). A typical career
would see one handling a few plants/vendors initially, followed by the
responsibility for an entire factory, eventually leading to a role requiring a more
strategic view like global sourcing for materials and imports.

The focus of the production specialist is not on engineering problems, but on

the managerial implications of engineering problems. The specific skills
required are behavioural, technical, and statistical.
These techniques are largely applied to manufacturing organisations. MBAs
with this background stand a bright chance with several consultancy firms.

Operations is a new stream that has come in the recent years and is getting
popular very fast. People with this specialization are basically inter-disciplinary
in nature. The responsibilities are huge and so are the returns. The market has
welcomed this specialization with open arms. An operations person basically
deals in the various internal and external movements and flows within an
organization that affect its efficiency. These flows could be processes,
relationships, vendor development, ancillary management etc. Again here,
engineers are the most preferred of the lot.

The skills required for any of the above jobs are eye for detail, people
management skills, ability to negotiate, calmness in tough situations, sound
technical knowledge, etc. Every manufacturing and sales and distribution
company needs good operations guys. Here are the names of some of these
firms: Larsen & Toubro, GE, Godrej & Boyce, Asian Paints, Philips,
Crompton Greaves, Siemens, Mahindra & Mahindra, Maruti Udyog, Voltas,
etc.

Management Consulting

The MBA degree gives one the best course to get into Management Consulting.
A consultant is a person who is hired by businesses to give expert opinions on
various functions with a view to make optimal usage of the company’s
resources. Although a person might get into the Management consultancy firms
without the benefit of an MBA, usually they leave after two years of service or
so to pursue an MBA degree as that is the bast way of vertical growth in that
firm. Most of the top Management Consultancy firms of the world like Arthur
Andersen, KPMG, Pricewaterhouse Coopers, Ernst & Young and Deloitte &
Touche started off as Auditing concerns and later branched out into
Management Consulting. The types of consulting services available vary widely
according to specializations in MBA done. The areas in Consultancy for
Operations/Manufacturing MBAs are Business Process Reengineering,
Manufacturing Consulting, Operational Effectiveness and Strategic Consulting.

HR MBAs may get into Organization Design or become Compensation

Benefits or Change Management Consultants. IT MBAs frequently become
Systems Consultants or HRIS Consultants or Database Consultants. General
Management MBAs usually go into Strategic Consulting. The growth path of
an MBA in a Consultancy firm is such that they usually start by being
Associates or Senior Consultants. Then they go on to Managing Consultant to
Senior Manager to Associate Partner/Partner.

General Management

General Management is mainly for people who have some specialty already,
and want to increase their oeuvre. Others pursue General Management as a
corollary to some other core discipline. This is because there are practically no
entry-level jobs in GM.

Entrepreneurship

Enterpreneurship is chosen by two kinds of people. One, who have family-

managed businesses to handle or take over immediately after passing out from
the institute, and the other kind who have ideas they want to implement in a
new business after passing. The second kind is now very much in vogue,
especially with the mushrooming e-commerce culture where every idea has a
possibility of fruition in a flourishing business. The dot-com craze is a case in
point. These ventures ate typically characterized by a large amount of risk, but
with equally high returns if they succeed. Many ideas are implemented with an
eye on an IPO (Initial Public Offering of stock) where they might be able to
innovate and grow with the money flowing in. Small Business Management is
again either for people who have a SSI (Small-Scale Industry) Unit waiting for
them to handle or those who want to start one. Also the other career option is
that of Strategic Consultancy to such small businesses.

Prateek Rai