Business is an activity of making money through selling or buying products. Business is done to try and earn profit through exchange of goods and services. It deals in numerous transactions. It is subjected to risks and uncertainties. Risk may be financial loss or due to change in demand or fall in price of goods or services. Business education involves teaching students the fundamentals of business process. Education in this field occurs at several levels, including secondary education and higher education or university education through various courses. The Degree offered in business management are Bachelor of Business Administration (BBA), Bachelor of Commerce (B.Com) and Bachelor of Computer Administration (BCA), Master of Business Administration (MBA) etc.
People usually prefer to enter into business industry after doing MBA. Some of the Specializations are as follows:
- MBA in Finance: It is one of the most popular forms of MBA specialization. A bachelor’s degree in finance would help one learn about commercial banking, investment banking, financial planning, money management etc. But, an MBA in Finance offer students to get understanding of financial management, technological proficiency, interpersonal skills, business skills etc. Through It one can find jobs in various sectors such as Corporate Finance, Corporate Banking, Sales and Trading, Stock Market etc.
- MBA in Marketing: It is designed to teach students a wide variety of skills that can then be applied to a variety of positions across any type of company because different companies have different requirements and needs. The person can go into multiple fields such as Marketing Manager, Marketing Research Analyst, Media Planner, Sales Manager, Brand Manager etc.
- MBA in Human Resource Management: It teaches one management, mergers and acquisitions, managing demand and supply of labor in emerging economies, selecting good candidates to the company and international leadership. The main function of an HR manager is to ensure the company is handled by right candidates. They usually have business skills of leadership, communication, teamwork and decision-making capabilities.
- MBA in International Business: This program prepare students for trade, management or general business career. These programs typically offer internship opportunities to the students through companies, which allow them gain hands-on experience in international business. This degree helps one to develop understanding of business theory and application, legal issues, and certain management strategies.
- MBA in Operations Management: It helps one to deal with Production Management or Shop Floor Management. One learns how to maintain the process flow inside the industry, develop vendor and maintain inter-departmental relationships.
Business Schools in India: India has lots of business Schools but few have earned a reputation. Some of the colleges provide excellent faculty and produce well-qualified students. Some India’s top B-Schools are:
- Indian Institute of Management [IIM] Ahmedabad
- Indian Institute of Management [IIM] Bangalore
- Indian Institute of Management [IIM] Calcutta
- Indian Institute of Foreign Trade [IIFT] Delhi
- XLRI Jamshedpur
Some of the top business Schools across the world are as follows:
- Harvard University
- London Business School
- Massachusetts Institute of Technology (MIT)
- Wharton Business School
- Stanford University
These Business schools produces world-class professionals in the field of business.