Selection of an MBA specialization is not something you should take lightly. At the very least, it is not something to be taken as casually as, say, going to a website like Logmein123 (that is www.logmein123.com) and making a request for IT support. On the contrary, selecting an MBA specialization is something you should take seriously, especially if you are studying at a relatively costly school such as, say, the Stanford Business School. There are three major considerations which you need to make, when selecting MBA specializations.
Firstly, when selecting MBA specializations, you need to consider your interests: that is, the areas of business where your interests lie, the areas where you’d love to work. If you align your choice of specialization well with your interests, you will subsequently find the work you do after graduation to be interesting (and fun-filled), and this will enhance your chances of success.
Secondly, when selecting MBA specializations, you need to consider your aptitude: that is, the areas of business in which you have the aptitude to perform well. Like, for instance, if you are gifted in working with numbers, you may take specializations such as Finance or Accounting.
Thirdly, when selecting MBA specializations, you need to consider marketability: lest you opt for the less marketable specializations, and end up facing difficulties getting a job after graduation.
As a marketing professional, you may be approached by a company that makes vacuum cleaners, with a request for you to designing an advertising campaign to market the vacuum cleaners. Faced with such a task, there are four critical decisions you have to make.
Firstly, you have to make a decision on which specific advertising media you will be advising the client in question to use. This will, of course, depend on the audience that your client (the vacuum cleaner maker) will be trying to reach. It will also depend on the model through which your client will be actually selling the vacuum cleaners. Like if, for instance, the client will be selling the vacuum cleaners mostly through brick and mortar stores, it would perhaps be a good idea to use traditional mainstream media – such as radio, TV and print newspaper ads. Conversely, if the vacuum cleaners are to be sold online, then online advertising would probably make more sense. That is like where the manufacturer can market the machines on websites like http://www.bestvacuumcleanersonthemarket.com/ which are frequented by people seeking to buy vacuum cleaners online.
Secondly, you have to make a decision as to what market segments to target. If, for instance, your client is trying to sell a model of the best handheld vacuum cleaner, then you may be inclined to target the high-end market, which is often willing to pay more for a quality product. That is the same market segment you’d target if, for instance, you were selling a high-end Toyota vehicle model.
Thirdly, you have to make a decision as to what targets (in terms of tangible results) to aim for, in the marketing campaign.
Fourthly, you have to make a decision on the parameters through which the effectiveness of your advertising campaign is to be gauged. This is critical, as many business scholars from various reputable schools (including Columbia University) have averred in various peer-reviewed scholarly articles on the subject.
Enrolling for a MBA is usually a good idea. That statement may sound counterintuitive, especially in an age where the MBA is attracting more and more bad press – with some people opining that the MBA is useless, that the MBA adds no value … and so on.
The first reason as to why enrolling for a MBA is usually a good idea is in the (often cited) fact that the duration for the MBA course makes for a good lifelong networking opportunity. There is no controversy about this point, and indeed, if you go to a publication like the Harvard Business Review you will find numerous scholarly articles supporting the view that the MBA course is a good opportunity to network.
The second reason as to why enrolling for a MBA is usually a good idea is in the fact that the training given within the course of the MBA is indeed quite useful. People argue that it is just common sense stuff, which may be the case, but it still makes a great deal of difference nonetheless.
The third reason as to why enrolling for a MBA is usually a good idea is in the fact that the MBA gives you an extra (weighty) bullet point in your resume. That can make a difference when hiring decisions are being made. For many positions, employers given a choice between someone with an MBA and someone without an MBA will normally choose the one with the MBA. That is because, if nothing else, the people in the HR departments have to justify their hiring decisions: as in, they have to show why they chose one job applicant over another.