The world has changed a lot in eight years. Since the global financial crash of 2008, the popularity of MBAs has been on the wane, and their overall value is being called into question more and more. Requiring that one put a career aside, and coming with program fees in the tens of thousands of dollars, people are beginning to ask: why do an MBA? The real answer may be surprising. While the obvious assumption is that an MBA pays bigger dividends is true (after all, most MBA graduates see six figure salaries within the first five years of employment), the real value is the versatility of an MBA program. A business degree will allow you to specialize in any number of fields, setting you up for a great job immediately upon graduation. The following is a small list of the specializations available at most business schools.
This MBA specialization covers the principal subjects in the field including financial accounting and managerial accounting, taxation as well as auditing. Financial accounting is the foundation for investment analysis, corporate or forensic analysis, as well as mergers and acquisitions breakdown. Accounting also forms the basis for external reporting up the chain to shareholders and other stakeholders. An MBA with this specialization traditionally provides information for managerial decision-making such as performance evaluation and resource management.
The entrepreneurship specialization will teach you how to become an entrepreneur and prepare you to play a key role in society through the relentless pursuit of opportunities that allow you to create and sustain a competitive and vibrant enterprise. Whether your goal is to own your own business or to help existing organizations grow and develop, this is the spec for you.
Operations management is the corporate area in charge of designing, managing and tracking the various processes that make up a successful business, which are themselves made up of interrelated, sequential. The key is that the product has a greater value than the elements pre-process. At a school like Wilfrid Laurier, MBA students who choose this specialization will apply local, national, and global focuses to stay a step ahead of companies’ current needs, giving them the knowledge, skills and perspectives they need to create value for their companies in the future.
The strategic problems managers face are typically unclear and do not lend themselves readily to solutions using traditional formulae or models. Strategic management as an MBA specialization will allow you to understand the practical realities behind organizational decision-making. Strategic management solutions are necessary for anyone who wants to answer questions such as: What products should our company make? Which markets should we enter? What type of organization should we be building? How should our company respond to competitors’ behavior? Choose a school with a curriculum that emphasizes an interdisciplinary approach that involves sociology, psychology, and economics to develop analytical frameworks that examine the strategic issues managers face.
Marketing as a specialization provides flexibility for students seeking careers that deal with behavioral concepts and quantitative methods in business whether from a marketing-management point of view and provide opportunities for in a wide range of profit and nonprofit situations.
With an MBA from Wilfrid Laurier, you have the option to specialize your general MBA degree. You can choose from one of the specializations listed below:
- Strategic Management
- Innovation & Entrepreneurship
- International Business Management
- Golf and Resort Management
- Supply Chain Management
- Financial Management
- Operations Management
- Organizational Behaviour & Human Resource Management
The top MBA programs in Canada should offer the right combination of versatility and specialization, and allow you to focus on the precise business path that best fits your skills and desires. Business school should help broaden your possibilities, not pigeon hole you in a discipline you don’t enjoy. Before you choose which MBA to pursue, look into their specialization options.