The country’s struggle with the stagnant job market has directly reflected on the management education.CAT 2016 registration numbers have gone down. Lesser number of candidates is expressing interest in pursuing an MBA degree. According to the GMAC" two years MBA programs have seen the wild change, ultimately down nearly 40% since 2016.As general MBA degrees slowly veer towards saturation, a new broad of management degrees are on rise. These MBAs focus on the specializations in the particular industry or the niche portfolios. The world is different place today and also it needs a relook at. When we did this we realized that there were so many sectors we were not catering to.
In India, educational institutions are slowly realizing the importance of management studies in particular field. Various new courses have been drawn up. There are specializations that are provided in MBA program and below mentioned are the names of few.
1. Rural Management
It is well known fact that India is an agrarian economy. But with changing times even rural based sectors are also being influenced by the corporate trends. With the steady rise in the rural enterprises, there is growing consciousness for the quality both at the product end and consumer end.
2. MBA in Insurance
The Indian Insurance industry has been valued at US$ 72 billion. According to the report in India Brand equity foundation, the industry has the potential to reach the US$ 280 billion by 2020.There is a dire need of qualified personnel who can provide the strategic outlook and also undertake the policy research. Some of the sub -specializations include actuarial management, risk management and the reinsurance.
3. Forest Management
Woods are the source of livelihood for more than 15 million people in India. Forest management is highly good field that focuses on building talent to conserve natural resources and also prepares the students for careers leading to management responsibility in the forestry. Indian Institute of forest management offers the postgraduate program in FM.
4. Telecom Management
India has the second largest telecommunication network in the world. It has one of the lowest call tariffs and the third largest internet user base. The industry has grown over the twenty times in ten years and has also a revenue of US$ 34,344 million in 2016-11.Such a big industry also requires the specialized managers who have the knowledge and the skills in all functional areas of the telecommunication or what is know now as Information and the communication technology.
5. Aviation Management
The country seeing the boom in the air travel. With more airports coming up and the old ones being made the state of the art it is only wise to specialize in the sector for an edge over others.
6. Disaster Management
We all know how an impending disaster in cyclone phailin was averted due to efficient disaster management and how the lack of it led to the death of thousands in the uttara khand floods. So there is pressing need for the people trained to mitigate the disaster and hence the need to train the efficient managers.
7. Sports Management
According to the Times of India article sports management combines work as an agent along with the business and marketing aspects of the game. Their role involves business development, generating revenues/profit, planning and the strategizing, promotions, client servicing and so on.