It wasn’t long ago that business students only had the choice between earning an MBA and an undergraduate degree, but schools now offer plenty of options and ways in which students can specialize a business degree. Also known as a concentration, a specialization gives students the right to earn a business degree and gain hands on/practical experience in a specific field relating both to business and the careers they hope to have. While there are multiple concentrations out there, students typically stick with one of the more popular options.
Entrepreneurship
The main reason students enroll in business degree programs, is because they want to launch and operate their own companies. Regardless of the types of services or products they want to offer, they dream of selling millions of dollars every year. The best way for those students to achieve their goals is with a concentration in entrepreneurship. Entrepreneurship programs teach students the specifics of running a business, including how and where to source funding, hiring new employees and even creating a detailed business plan. Students may also gain the skills needed to run companies owned by others.
Marketing
Matt Symonds points out in a Bloomberg Business article that students must have a clear idea of what they want to do before deciding to specialize a business degree. Specializing a degree narrows down the scope of what students can do after graduating. Those who choose a concentration in marketing might find that they have a difficult time finding work in finance or information services. This type of degree involves a high level of research. Students learn how to create focus groups, analyze the data from focus groups, creating marketing campaigns and increasing sales through different types of marketing and advertising.
Health Care Management
One of the fastest growing fields in the business world is that of health care management. As more and more hospitals become part of large medical companies and more chains form, the owners of the hospitals and medical offices will need workers with a deep understanding of both business and health care. Health care management focuses on the daily operations of a medical complex, hospital or health care facility. Students in these programs learn more about federal employment laws, supply and vendor management, patient confidentiality laws and the general operations of a health care facility.
Accounting
Another way in which a student can specialize a business degree is with a concentration in accounting. Accountants work with both small business owners and major corporations every day. They handle everything from tax preparation to bookkeeping. Many MBA programs that offer a concentration in accounting appeal to students who want to work as certified public accountants. Each state requires that accountants sit for this examination before working as a CPA and that applicants complete a certain amount of work before taking the test. Most students reach the minimum amount of work within one year of starting an MBA program. Some graduates study accounting because they want to handle the bookkeeping of their own companies too.
There are thousands of students entering MBA programs in the United States every year. While some are content entering a basic program that gives them a general view of the business world, other students want to specialize a business degree in accounting, health care management or another field.