Which Route to Specialisation?

According to the 2009 Global Management Education Graduate Survey conducted by the Graduate Management Admission Council, 46% of graduating students intended to switch industries after graduation. The survey, now in its tenth year, was based on responses by 5,214 graduate business students from 203 participating schools who were completing their education in 2009. Of the respondents, 24% attended schools outside the United States while 39% were from countries other than the United States. The vast majority of respondents (94%) were enrolled in MBA programs.

Results of the latest survey shows that the 4 industries that were attractive to career switchers in 2008 remained the same in 2009: Finance/accounting, Consulting, Health care, and Energy/utilities. Finance/accounting and health care categories were less attractive to career switchers in 2009 compared with 2008. But, both years had a positive net gain. The Consulting and Energy/utility industries had a conspicuous increase in attractiveness this year. Each of the other industries has lost more individuals than they have gained for the past three years.

Do you know which category of full-time MBAs you fall into: the industry switchers or the industry loyals? The MBA specialisation you choose has everything to do with your answer. Having said that, let us find out more about MBA specialisations for full-time British MBAs.

Different ways to specialise in your MBA

There are two ways to specialise in your MBA. One type of specialisation is to gain knowledge and expertise in an area of choice through MBA electives. The MBA projects can also be used to further experience and exposure in your chosen area. You will be issued a general MBA when you go this route.
If you are unsure of which industry or area you wish to specialise in, this type of MBA offers you the flexibility you need. The Cardiff MBA is a case in point for using elective modules within a general MBA programme. After mastering the core areas through foundation an application phases over six months, the participants can choose their electives at the third phase from a number of pathways. These include the Marketing and Strategy, Human Resource Management, Accounting and Finance, Operations Management and Logistics and the International Management pathway. Each pathway comprises one core or lead elective together with two others from a list of related electives.

For example, if you wish to pursue the Human Resources Management Pathway, you need to select the lead elective of Strategic HRM and two electives from among International Management, Management Consulting, Management of Change and Management in Emerging Economies. In the final phase, you are required to select an HRM area for your Business Project.
If you are interested in a general MBA, you can do that too at Cardiff by choosing three electives from all those offered under the other pathways and by completing your Business Project.

At the University of Southampton School of Management, in addition to the core models, the MBA students can choose two modules from among Logistics Management, Supply Management, Project Management and a number of options in Higher Education Management offered by the Centre for Higher Education Management and Policy at Southampton. These include Strategic Issues and Evaluation in Higher Education, Organisation and Management in Higher Education and Resource Management in Higher Education. This type of flexibility and options are common in most British MBA programmes.

Industry or subject specialisations.

The other method is to pursue an MBA that has an inherent industry or subject specialisation built in.
For example, you could take an MBA in Finance, MBA in Biotechnology, MBA in Hospitality Management or an MBA in Food Business Management depending on what your career goals are.

This kind of specialisation is suitable for those who wish to remain and climb up in their current industry as well as for those wishing to enter a new industry of their choice and want to expand their skills and experience relevant to that industry, in addition to the general management qualification.

Finance & Banking MBAs

MBA in Euro Banking and Finance offered by the Birmingham Business School has been specifically designed for graduates who aspire to develop careers in international banking and finance.
The programme comprises six core subjects: Human Resource Management, Strategic Analysis of Business I, Operations Management, International Banking Regulation and Supervision, Corporate Finance & Marketing Concepts and Practice or Marketing Principles. In the second semester, participants have to select six modules from among Cooperative Strategy, Venture Capital and Private Equity, Asset and Liability Management in Banking and Insurance, Islamic Banking and Finance, Topics in International Banking and Finance, Strategic Analysis of Sustainable Competitive Advantage, Financial Statement Analysis and Financial Markets Regulation. Some of the Semester 2 modules are core subjects. A dissertation completes the requirements for the MBA.

The MBA in Banking & Law at Bangor Business School in Wales strives to develop knowledgeable and capable banking executives and banking lawyers who are capable of taking up key positions in the financial sector. It focuses on the financial and strategic management of banks and other financial institutions as well as on the complex legal and regulatory structures within which banks and their executives have to operate. The legal issues cover a wide range of topics at UK, EU and international level and the general principles of International Banking Law.Compulsory modules include the following: Management Research, International Banking, Corporate Strategy, International Financial Management, Investment and Private Banking, International Banking and Capital Markets Law, International Corporate Finance Law and Merger Regulation Law, International Commercial Arbitration and Credit and Security Law.

Three optional modules are to be chosen from among two groups, with at least one from each. The first group, focusing on banking and management aspects, includes Human Resource Management, Corporate Risk Management, Financial Analysis, Financial Institutions Strategic Management and International Financial Markets. The second group includes Comparative Corporate Governance, International Insurance Law, World Trade Law, Industrial Property Law, Intellectual Property Law, Competition Law and International Financial Instruments Law.
The Dissertation may be in either Law or Business or a combination of both.

Hospitality & Tourism MBAs

University of Surrey offers specialised MBAs in Hospitality and in Tourism. Besides the basic requirements, at least three years professional work experience in the hospitality/tourism industry post-graduation with some managerial responsibilities are needed for admission. A mature entry scheme allows those who do not have a degree but hold a relevant professional training qualification with a minimum of six years managerial work experience.

Compulsory modules of Financial Management, Managing Human Assets, Marketing & Business Planning, Research in Management and for the Tourism MBA, Strategic Management - A Global Context, are supplemented with compulsory specialised modules. For the Hospitality MBA these are: Hospitality Operations Management and Strategic Management of International Hospitality Companies. Management Applications in Tourism and Sustainable and Ethical Tourism make up the specialised modules for the Tourism MBA.
Participants in each programme are expected to carry out an individual business research project in their area of specialisation and to take part in an action case and business simulation in their respective field. There is also a residential element built into each MBA as well as an opportunity for an optional international study trip. The Surrey School of Management is accredited by the World Tourism Organization (UNWTO). The University is the current chair of the Education and Science Council of the UNWTO. Surrey has the oldest endowed chair in hospitality, the Forte Professorship of Management, as well as one of the most recent, the International Travel Catering Association (ITCA) Chair of Production and Operations Management.

MBA in Biotechnology

The MBA (Biotechnology) offered by the University of Abertay Dundee in Scotland is designed specifically for those with a degree in bioscience to prepare them for a successful managerial career in the biotechnology and life sciences sectors. The programme covers topical areas of modern biotechnology such as Molecular biology, Bioinformatics, and Industrial biotechnology besides the management core courses in Marketing, Human resources, Entrepreneurship, Business strategies and Accountancy & finance. The Industrial Biotechnology module provides an opportunity for students to visit companies actively engaged in the rapidly growing Life Sciences sector in Scotland. The MBA dissertation will be on issues confronting bio-business and commercial biotechnology. The MBA (Biotechnology) is delivered jointly between the Dundee Business School and the School of Contemporary Sciences.

MBA in Logistics

MBA (Logistics) from the Derbyshire Business School has been designed in consultation with regional and national employers to develop leadership and management skills relevant to the purchasing, logistics and supply chain sectors. The university strives to "meet the increasing demands from individuals, organisations and regulatory bodies for planned, relevant and essentially practical management development specific to the logistics sector," according to their website. The programme aims to build upon your knowledge and experience of logistics, purchasing and supply chain management. It also provides you with the opportunity to gain a strategic perspective using a detailed review of operational management which includes international scenarios.

Making the Specialisation Decision

If you cannot find an MBA specifically tailored for your chosen area, the next best alternative is to find an MBA programme that offers electives that you wish to specialise in. Either way, you come out a full fledged MBA graduate with enhanced knowledge and specialisation in your chosen area.