Should I Specialise My MBA?
Whilst the Master of Business Administration (MBA) provides a fantastic overview of business as a whole, there is also the possibility to specialise your Masters degree. Many students choose this option so that they are able to further their knowledge in one particular field and pursue career options in that area.
Every AIB MBA student must undertake seven core subjects in Leadership, Strategic Management, Marketing Management, Corporate Governance, Operations Management, Financial Management and Strategic Human Resource Management. Following this, they can either choose to pursue a Generic MBA (non-specialised), which is particularly appealing to those who would like to gain a holistic view of business, or concentrate on one key area in the remaining four elective subjects and final project.
For those looking to specialise in an MBA which is designed for aspiring or established entrepreneurs – this is the option for you. This MBA specialisation focuses on subjects such as Entrepreneurship, New Venture Creation, International Business and Franchising. It provides you with a vast knowledge base which will help you establish your business, understand how it will grow and put you on the right track towards success.
When you specialise your MBA in Marketing Management, you will develop the skills to manage marketing initiatives for businesses of all sizes, including insights into product development, management and sales promotion. Subjects studied within this specialisation include International Business, New Product Management, Integrated Marketing Communication and Business-to-Business Marketing.
As a student of the MBA (Finance), you will undertake subjects such as Corporate Finance, Financial Markets and Institutions, Investment Management and International Business Finance. These subjects will demonstrate how certain techniques can help in making informed management decisions in the complex financial environment affecting all organisations. They will also prepare students with the knowledge to manage financial risks in business, and understanding investment risk, return and diversification.
Human Resource Management
As a business leader, a sound knowledge in Human Resources can be very useful in order to understand the needs of your workers. The MBA specialisation looks at areas including Strategic Human Resource Development, Performance and Compensation Management, Managing People in a Global Context and Managing Change. These subjects consider the integration of HR into organisational strategy, as well as employee development and reward systems.
Logistics and Supply Chain Management
This MBA specialisation introduces students to subjects such as Integrated Logistics Management, International Business, Strategic Supply Chain Management and Project Management. It provides students with an understanding of all facets of supply chains, new product concept generation and advances students’ understanding of the logistics of physical and virtual business systems in manufacturing and service organisations.
The Final Project
Bringing it all together, the final project is a research report which relates to the chosen specialisation. Students identify an appropriate workplace-based research problem, conduct a small literature review, analyse the data relating to the workplace or industry, and present findings in a formal business research report.
Choosing not to specialise
In terms of course structure, those who choose not to specialise can pick four elective subjects from any of the disciplines explained above. For the final project, they also have the freedom to choose a topic related to any discipline of interest to them.
Those who make the decision not to specialise their degree will graduate with a Master of Business Administration, whereas those who specialise will be awarded with a Master of Business Administration (Finance, Marketing Management, etc.). Neither is more prestigious, credible or indicative of achievement than the other – a specialisation simply allows one to gain in-depth knowledge in a particular discipline and use that to help them achieve their career goals, whatever they may be.