Management development with new specializations catering global needs


In today’s fast-paced competitive world, management learning has become the need of the hour. A post graduate management course (called MBA or PGDBA course in India) enables the incumbent to acquire the in depth skill of the specialized management area and get ready for the world of business for the future.

With ‘new’ streams for specialization being offered to produce skilled manpower to meet specific industry needs, options are aplenty. Leading management institutes of India have introduced specialized MBA courses catering exclusively to retail, pharmaceutical, e-business, IT etc.

Pharmaceutical Management:

The content of PG Diploma in Pharmaceutical Management has been redesigned and is now offered as MBA-Pharmaceutical Management.. The objective of this MBA course is to train students for managerial positions in the pharmaceutical industry, by means of rigorous field work and academics over a period of two years. The courses involves fieldwork in every trimester involving visits to doctors, retailers, patients and wholesalers so that students get first hand knowledge of the working environment. Medical Devices companies add to their capability.

There are options for MBA in pharmaceutical in fields like Project Management in Pharmaceuticals, Brand Management, Model Building, Marketing Research etc. in pharmaceutical companies. The course is offered in a few reputed institutes of India. They have fullfledged placement offices to provide placement assistance for both summer and executive placements.

Actuarial Science:

This program combines the use if statistics, mathematics, finance and economics for problem solving applications mainly in insurance, risk management and fund management. The Actuarial Science program has been designed to meet acute shortage of actuaries arising from the increasing gap between demand and supply in India and the world over. Actuarial science is applied particularly for the assessment of risk. Actuaries are professionals who are qualified in this field.

The program offered at some well known institutes, takes into consideration the areas covered by professional examining bodies such as the Actuarial Society of India, Institute of Actuaries-UK , Society of Actuaries-USA etc. In view of the business environment in which Actuaries operate, the programs also cover subjects from the field of management and information technology.

The programs prepares students for a role in various fields like Life Insurance, General Insurance, health Insurance, Re-Insurance companies, Pension Funds, Consultancy, Investments, Academics, Risk Management etc.

The actuary’s skills in analysis and modeling of problem in finance, risk management and product design are used extensively in the areas of insurance, pensions, investment and more recently in wider fields such s project management, banking and health care. Within these sectors, actuaries perform a wide variety of roles such as design and pricing of product, financial management and corporate planning.

Retail Management:

With the retail sector booming a post graduate degree in retail management is a promising option. According to a report by the ministry of commerce &industry, the retail sector in India is expected to- grow at the rate of 7% per annum. This two-year course provides students with the qualification to enter the exciting and dynamic industry of retailing and aims to combine industry knowledge with analytical aspects. Offered by a few institutions this course aims to develop skill-set required to manage the modern retail format.

Retail markets in India are launched by large group companies covering the metros and large cities. The areas covering the retail markets or malls range from 10,000 sq ft to even 100,000 sq ft & above. The malls require skilled manpower and people who are qualified in Retail management have abundant opportunities right from setting up to managing them profitably. Indian consumer has clearly demonstrated a readiness for all organized retailing segments.

Services Management:

This is designed to cater to increasing need for people equipped with necessary commercial and personal skills in the service management functions. Repute management institutions are offering a post graduate course in this field with an aim to need of business leaders with thorough insights managing service processes. Some of the services offered are hospitality services, health care services.

Hospitality and tourism is one of the fastest growing sectors worldwide. Health care services are also in demand. These are not only required in India but all over the world. Therefore a person acquiring these skills can have global opportunities.

Global Business:

The post graduation course in this is designed as a general management course with global focus. With MNC growing in numbers managing businesses requires a deep understanding of international aspects of all functional areas as well as specialized knowledge of countries, regions, and industries also become a must.

The post graduation course provides the students with understanding of management with detailed emphasis on global aspects. Some of the subjects discussed are global economics, international trade operations. Leal aspects of global business etc.,

Manufacturing and operations management:

It is an endeavor to find ways to gain excellence in mnfg in order to gain sustainable competitiveness in the international market. The program has established itself as a benchmark of institutional frame work and collaborative linkages with leading industries.

The above points we have covered clearly indicate how the educational institutions are grooming human resources by imparting specialized management skills so that the Indian talent can contribute in global business and sustain competition making India a proud emerging economic power.