A Master of Business Administration, more commonly known as an MBA, is a way to customize a business degree to the needs of an individual candidate. An MBA specialization is essentially a package of core and elective units that can be taken to provide each individual greater knowledge in a particular area, aka specializing in a subject. Confused yet? Well, let’s delve deeper into MBAs to give you all the information you need to make an informed decision.
Do I Need An MBA Specialization?
Earning an MBA has traditionally been seen as a way for individuals to develop finely honed business skills to support taking the next step in one’s career. A specialized MBA can be beneficial when working towards an industry-specific skill set, as this will give you an advantage over your fellow students. Potential employers will be able to see clearly from your studies that you would be able to hit the ground running, whereas others who haven’t specialized may require additional training and support to take on the role.
Is An MBA Specialization Worth It?
An MBA specialization can assist with starting your career but also help professionals enhance career opportunities, increase the possibility of promotion and provide negotiation room for remuneration packages. Additionally, if you have been thinking about the idea of starting your own business, undertaking an MBA specialization can assist with getting you the skills and knowledge necessary to start that dream business.
Studying An MBA Specialization
Like everything, all options for studying an MBA specialization are not created equal and there are programs that are more highly respected among employers as proven providers who provide their students with all the required skills and knowledge to truly succeed in the workplace. Hiring managers are aware that just undertaking a course doesn’t necessarily make that person an ideal hire unless they are from a reputable training provider. Therefore it is important to do your research before enrolling in a course.
An MBA online at SCU can enhance where you want to go in the future with your career, but like everything in life, there are always determining factors such as how much time you can apply to your studies, desired expectations, and how you want or are able to study. Looking at online study is the way of the future for professionals who are wanting to change careers or progress within their current career and struggling to find time to study. Completing online studies is a way to have the best of both worlds, allowing time for full-time employment and completing studies when spare time allows.
Academic Requirements
Enrolling and being accepted into an MBA specialization course is not as straightforward as completing an online form. You will need to showcase that you have a three-year bachelor’s degree from an accredited training institution. Alternatively, you will need to provide evidence of the equivalent professional experience as required by the training institution. Additionally, all students studying the course will need to be proficient in reading and writing in the training provider’s home language, generally English.
Advanced Standing
Have you studied before? Potentially not in the same topic, but there is the possibility of crossover in the learnings. Advanced standing is a form of credit that can be granted from previous learning if directly related and equivalent to the MBA specialization. This involves you completing an additional application requesting credit, and if successful you can potentially enter the MBA specialization at an advanced stage and graduate sooner. This will bring your steps toward your future one step closer.
Examples Of MBA Specializations
Whilst there are many varying MBA specializations available, some of the most popular include:
Accounting
Learning to deliver critical skills needed to effectively manage high-end accounts by analyzing business financials, processes, and procedures. An MBA specialization in accounting will provide a thorough understanding of the fundamentals of business law, profitability of a business, and financial performance both current and projected. Core units required for this specialization are business accounting for managers and business corporation law for managers.
Health Services Management
Effectively teaching, implementing, and applying strategic management in a health setting. This specialization provides teaching regarding how to deal with impacts such as funding cuts, company restructuring, and other arising external and internal impacts on a business. An MBA specialization in health services focuses the student on issues within the healthcare sector, with the goal of preparing trainees on how to lead teams of healthcare professionals.
These are just two of the available out there with others including information technology, managing and leading people, banking, international business, human resource management, hospitality management, and sports management. These are just a selection of options that can lead to lucrative career opportunities for those willing to put in the time to complete their studies.
If you want to transform your career, it can be hard to think about taking those first steps as they can seem daunting and overwhelming. With an MBA specialization, you would be taking the first act towards the next phase in your life. With so many varied study options available including online and so many specializations offered, what are you waiting for? Look into an MBA course today.