Earning a Master of Business Administration – most often called an MBA – is truly an effective way to broaden your skill set and boost your career to new levels. By knowing key business acumen, you’ll become a valuable asset to any company’s leadership team. An MBA can be more than just a business degree – it can be your gateway to a knowledge base that will give you the tools you need to potentially reach new levels of success. This outcome is thanks to in-demand MBA specializations that let you focus on key areas of interest.
The business world – both domestically and internationally – is constantly changing. It is a dynamic and exciting environment to work in, which is why so many people are attracted to business as they pursue their higher education. If you currently work in business or are looking to enter a new segment and advance your career, consider these 10 MBA specialties. They can give your career the edge it needs while providing you with skills to stand out among the fierce competition for top business positions at leading employers.
1. Business economics
Economics and finance have a natural relationship within the business landscape. People who have the skills to develop complex strategies that position an organization for success even in challenging times will prove their worth at any organization. An MBA with a Business Economics specialization focuses on economic variables that impact business, from employment or inflation to fiscal policy. Mastering these topics will give you a unique skill set others may not have.
2. Environmental management
Every day the environment makes headlines in some way; it’s become a hot topic and for good reason. Many companies, both in the for-profit and non-profit sectors, need executives with strong business and environmental knowledge. If you’re passionate about the environment, you’ll find career satisfaction with an MBA with a specialization in Environmental Management. You’ll study intriguing topics like how the economy affects the environment, as well as the business risks and rewards of sourcing alternative energy.
3. Finance
The ultra-dynamic area of finance is an ever-changing aspect of business. Corporate-level investment, economics, and accounting are extremely complex and require highly intelligent professionals to lead in order to position a company for success. If you have a passion for numbers, supercharge your MBA with a Finance focus. You’ll gain critical knowledge to help manage the financial health of any business during any type of economic period.
4. Global management
Business transcends all cultures and national boundaries to be a binding force for all countries. People who have leadership skills with key insights into sociopolitical variables are in high demand at companies with international relations. Consider getting an MBA with a Global Management specialization so you can lead an international business and be able to interact with a variety of worldly management styles and ways of conducting business.
5. Health care administration
It’s no secret that health care is an industry that is growing exponentially. The demand for skilled professionals goes beyond nurses, doctors, and aids. For a health care organization to continue to serve people in need, it requires experts with business leadership as well. An MBA with a Health Care Administration specialization helps students learn important skills in accounting, risk management, health policy, law, strategic planning, statistical analysis, and organizational management.
6. Human resources management
The people within an organization can make or break its success, which is why having experts in human resources can help ensure staffing and employee interactions are running smoothly. Diversify your repertoire of leadership skills in this area with an MBA with a Human Resources Management specialization. Students build a solid knowledge base surrounding hiring strategies, talent acquisition, legal requirements, benefits compensation, and employee relations.
7. Information systems
The evolution of technology and business over the past decade is mind-boggling. IT is now an integral part of any growing business, and it requires special expertise to keep a company’s productivity high. If you have a knack for IT and a love of business, consider an MBA with an Information Systems specialization. Students study hot topics like database management, essential business software, information processing, and systems development so they can offer expertise in IT strategy that will help streamline processes and keep confidential information safe and secure.
8. Marketing
Marketing is a necessary component of any thriving business. Professionals who have business insight and a mind for marketing can be of great value to organizations both big and small. Fill this role with an MBA with a focus in Marketing. You’ll study consumer behavior, branding strategies, research, and much more so you can build a brand, grow its reputation, and expand its client base. You’ll quickly become an indispensable asset to the marketing team.
9. Public administration
Serving the community comes naturally to some people, but to do it well and work within the public sector, it takes skills and a business mindset. An MBA with a Public Administration specialization gives students the knowledge to be exceptional citizens and employees. Courses will let eager students master a wide range of expertise in budgeting, human resources, quantitative methods, and public policy so they can effectively work within public, government, or non-governmental arenas.
10. Supply chain management
The complexities of some organization’s operations and supply chains require nothing short of the best leadership to ensure smooth transactions and functioning. An MBA with a Supply Chain Management specialization gives students a business foundation with key skills that prove important while managing integrated supply chains. You’ll understand crucial topics related to operations, production and delivery methods, quantitative methods, logistics, strategic planning, and project management. You’ll quickly learn the skills to master logistics management, materials management, evaluation and measurement, and distribution and inventory systems.
You can take your MBA one step further with one of these in-demand specializations that lets you follow your personal interests while boosting your business knowledge. The Forbes™ School of Business at Ashford University offers an MBA with all 10 of these specializations with online study options available for students. Take charge of your future, and become the business professional you were always meant to be – earn your specialized MBA now.