THE BEST PROGRAMS TO STUDY BUSINESS ABROAD |
Posted: July 24, 2018 |
The business domain is changing at an accelerating pace in the modern world. The fall of the Berlin Wall paved the way for the information age and businesses born of the industrial revolution registered its next of an information age. The old paradigm of efficiency was replaced by new strategies for effectiveness. An educated workforce rose in demand, one that with taking the business forward based on sound fundamentals and clear thinking. MBA and other professional business programs were created to meet the demands of this radical shift and create modern breakthroughs. This was the age of new enterprises like IBM, Microsoft, HP, Infosys, and other Silicon Valley giants. Businesses soon realized a demand for a workforce that will have a sound understanding of different operations learnt through years of training so a corporate culture of synergy could be created. The present article throws light on a few of the most valuable courses in business and management that are still in demand today and are going to stay in the future. MASTER OF BUSINESS ADMINISTRATION Studying MBA abroad continues to dominate the chart among the best professional courses for career growth both in terms of satisfaction and money. The relevance of MBA is evident by the fact that this is the only course that draws candidates from virtually every business area be it finance, marketing, human resources, strategy and operations, sales and continues to grow in different forms and degree of relevance in the current business scenario. The course’s versatile appeal draws companies of all levels and nature of businesses with a strong focus in one or two chosen areas of specialization. Few of the critical roles in businesses like strategy, consulting, and process reengineering demands MBA. A specialized graduate degree with an MBA surely serves as a ladder to great corporate success. MARKETING AND ADVERTISING MANAGEMENT Unlike in India, marketing and advertising are seen as a highly specialized discipline reserved to candidates with a strong tendency to devise marketing plans for new product creation, market penetration, or providing a strong leadership hold. The strategies are many ranging from direct sales, branding to advertising and sales promotion. New age marketing concepts are shaping up new fields of learning like guerrilla marketing, education-based marketing, digital marketing, affiliate marketing and many more. In the words of Peter Drucker arguably the greatest management thinker of the 20th century, Business is really 2 things INNOVATION and MARKETING. In fact, it is marketing and advertising that drives future sales and business operations. As such, huge stakes are involved in it since every other business vertical is dependent on the effective execution of this one thing. BUSINESS ANALYTICS Business Analytics program has taken a quantum leap in industry demand and pay scale and arguably is among the most rewarding career option in current times. With the advent of social media interface and digital marketing, business analytics are increasingly being used to adjudge statistical trends for effective decision making and forecasting. Business analytics has assumed the role of a game-changer which is changing the dynamics of businesses at an accelerating pace. The evidence to it lies in newly found threats by Facebook and Cambridge Analytica which has overturned the political results in India through high-end econometrics and data analysis found from survey questionnaires and social media participants. MASTERS IN FINANCE One of the most traditional and the most exhaustive branch of study in business, Finance has always played the favourite among accountants, analysts, and bankers alike. The modern finance is segregated under Investment Banking and Investment Management. The former occupies traditional subjects as Financial and Management Accounting, Taxation, and Corporate Finance. Investment Management courses lay strong emphases on secondary institutions like the Capital and Derivatives Markets. As such subjects like Investment Analysis and Portfolio Management, Financial Engineering, and Spreadsheet Modelling gain precedence over traditional subjects. The industries also vary in significant measure. Whereas a course in Finance and Investment Banking will help find a job in banking and lending institutions and traditional companies, a degree in Investment Management will open career avenues as Equity Analysts in KPOs, portfolio managers in insurance and mutual funds, and risk managers in derivatives and foreign exchange. LOGISTICS AND SUPPLY CHAIN MANAGEMENT Gone are the days of Carnegie and Rockefellers who were the largest owners of land and capital. Today’s billionaires aren’t the ones with giant enterprises but ones who have created systems for effective delivery of product to end users without actually participating in its creation. Companies like Amazon, McDonald's, FedEx, and Wal-Mart have created new rules. They have shown the world, that it is the speed of delivery that is the determiner to success in the information based economy through high-end logistics and supply chain management. The course is highly sought after and relevant in current times in areas of export-import, fast food chains, and retail management. Few business schools are also coming up with programs specifically catering to this high-end business objective to provide training to the future workforce that will stress on timely delivery of products and quality control measures. Logistics and supply chain management have compressed the twin currencies of the new economy i.e. time and mobility through systems and technology. HUMAN RESOURCE MANAGEMENT Rated as much traditional along the lines of finance, human resource management is one area that isn’t seeing much radical innovations and breakthroughs to existing paradigms. But still, it is to be understood that big companies now understand the importance of effective recruitment, wage and salary compensation, and work-life balance. Companies are increasingly using psychometric testing procedures for recruitment. Workshops are conducted routinely to boost up the morale of the workforce and work environment are also going under a transformation process to create avenues for creativity. US companies have ever laid stress on leadership and corporate excellence. Employers to take a genuine interest in ensuring the quality of life of its workforce. Courses like labour relations and labour laws, industrial psychology, change management, stress management and conflict resolution, wages and salary compensation, and recruitment methods are taught under this program. The stream has another branch in form of corporate training and executive coaching on leadership, sales, and high-performance productivity. ECONOMICS AND ACTUARIAL SCIENCE Like finance, economics too occupies a wide scope in the industry owing to its multifarious disciplines and relevance in diversified areas of operation. Broadly categorized under microeconomics and macroeconomics, this area is further sub-divided into developmental economics, econometric methods, international economics, monetary economics, statistics and quantitative methods and managerial economics. Though not strictly a business function still companies do hire economists for devising strategies and another business forecasting. The other related field of actuarial science finds relevance in insurance and risk management.
|
|||||||||||||||||||||||||||||||||||||||||||
|