If you wish to work in the corporate sector, then getting an MBA is a great choice. Masters in Business Administration will equip you with all the necessary skills needed to manage a company. There are a number of MBA specializations available, but if you are interested in management, then an MBA in Strategic Management is the way to go. Keep reading this blog, to know more about the course.
Also Read: MBA After BCom
This Blog Includes:
- What is an MBA in Strategic Management?
- Why should you study MBA in Strategic Management?
- MBA Strategic Management Admission process
- MBA Strategic Management Eligibility Criteria in India
- Entrance Exams
- Top colleges in India for MBA Strategic Management
- Eligibility Criteria for MBA Strategic Management Abroad
- Top Colleges for MBA Strategic Management Abroad
- Career prospects after MBA Strategic Management
- Future Scope of MBA Strategic Management
What is an MBA in Strategic Management?
An MBA in Strategic Management equips students with industry awareness. It teaches how to treat the market in such a manner that sales and profit are churned out by the company. By using the assistance of lots of case studies, the degree will show students how to be strategic. The students will be asked to examine various businesses and strategies of the organization. This course develops the analytical capacity of the learner and equips them with skills such as market analysis and data collection. It also teaches them how to make effective use of the obtained data. Modern Business Organization and Management, Business Policy & Strategic Management, etc. are some of the subjects discussed in this course.
Why should you study MBA in Strategic Management?
Mentioned below are the reason why you should study MBA in Strategic Management-
- During work interviews, students who have this degree have an advantage over other applicants because they are excellent at strategizing and handling.
- It is believed that an applicant who has a degree in this course has useful marketing and strategy skills.
- It is beneficial to have an advanced level of experience in strategic management as it can be used for one’s own advancement and potential career development.
- Compared to a regular degree or other specializations, the wage gap is comparatively high.
- The job prospects are varied and nice, as you can work as a budget analyst, coordinator of project management, process coordinator, coordinator of business growth, marketing manager, analyst of customer insight, etc.
- You can work in industry, advertisement, financial services, and work in both the public and private sectors as well.
- With an average salary of around INR 5,00,000 – 10,00,000, the salary packages offered are quite high and most colleges have a good drive for placements.
- You could also choose to do various internationally recognized certificate courses in the future that would help you to go up on the career ladder.
MBA Strategic Management Admission process
The universities follow the admission-based method of admissions, where few colleges may even have a personal interview round. The admission process varies from college to college in terms of admission by tests.
Most colleges have an online application system where you can apply via the specified link once the link is opened. In the case of colleges that have an entrance test or interview, the outcome would be dependent on your graduation and entrance score. It will then be based on how well you have done in the traditional entrance exams in cases of colleges that offer admission based on your CAT, MAT scores.
- Go to the college’s website that you are interested in.
- Check if they have an exam of their own and if you qualify for the same.
- Check if students are taken on the basis of some of the common test marks, such as CAT, MAT, etc.
- As recommended, generate an id or fill in a form. Fill out the specifics and pay the fees prescribed. Also, if appropriate, request the documents necessary.
- Finally, keep looking for recent updates and alerts with regard to the college website.
MBA Strategic Management Eligibility Criteria in India
The eligibility criteria for MBA Strategic Management in India is-
- Students must complete their Bachelor’s degree from any accredited university in any discipline.
- Students must have a minimum of 50 per cent of their graduation composite marks.
- To be eligible for the course students must apply for the mandatory entrance exam.
Most colleges in India are admitted on the basis of marks received in the context of CAT or other common MBA examinations, or on the basis of examinations carried out by colleges. The pattern of the query will range from college to college.
Below, some of the most popular MBA entrance exams are discussed.
- GMAT: This is an internationally recognized MBA entry exam that will allow you to study at top colleges around the globe, including India. Analytical Writing Assessment, Integrated Reasoning, Quantitative Reasoning, and Verbal Reasoning are four sections of the test.
- CAT (Common Admission Test): This is the common MBA entry test conducted by the IIM for admission to Indian Management Institutes throughout India for an MBA. The test consists of three sections: comprehension of verbal abilities and reading, analysis of data and logical reasoning, and quantitative ability.
- Management Aptitude Test (MAT): The standardized Business Schools (B-Schools) admission test for MBA and related programmes in India.
- CMAT: Common Management Admission Test is an online computer-based test that is carried out for admission into all AICTE approved management programmes.
Top colleges in India for MBA Strategic Management
|Colleges||Average Annual Fees|
|IIT Kanpur||INR 92,617|
|Xavier Institute of Management (XIMB)||INR 7,70,000|
|Institute of Management, NIRMA University||INR 4,47,600|
|Lovely Professional University||INR 2,32,000|
|IFMR Krea University||INR 8,80,000|
|Indian Institute of Technology, Chennai||INR 14,000|
|Suresh Gyan Vihar University||INR 42,500|
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Eligibility Criteria for MBA Strategic Management Abroad
Mentioned below is the eligibility criteria for MBA in Strategic Management abroad-
- Candidates must have completed a valid basic Bachelor’s level graduation degree.
- The degree could be an engineering degree B.E or B. Tech , B.Sc or B.Com. it could be in any other discipline as well.
- Some colleges and universities may require you to give GMAT/GRE.
- Candidates will be required to appear for language proficiency exams such as TOEFL/IELTS and submit the grades achieved by them.
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Top Colleges for MBA Strategic Management Abroad
|MBA College ||Country|
|EU Business School ||Geneva|
|University Canada West ||Vancouver, Canada|
|Harvard Business School ||United States of America|
|The Wharton School ||United States of America|
|London Business School ||England|
|Columbia Business School||United States of America|
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Career prospects after MBA Strategic Management
- Students who have completed the MBA Strategic Management programme will be working in the public and private sectors.
- They will work in a number of fields, ranging from jobs related to advertisement, e-business and management.
- After completion of the degree, they can work in many reputable businesses.
- They can serve as Business Analyst, Financial Analyst, Business Analyst, Research Investigator, Project Analyst, Compliance Officer, Product Strategist, Associate of Strategic Initiatives, Coordinator of Project Management, etc.
Here is a list of job opportunities available with their starting salary –
|Job Profile||Average Annual Salary|
|Business Analyst||INR 6,50,000|
|Business Development Coordinator||INR 4,50,000|
|Marketing Consultant||INR 6,40,000|
|Consumer Insight Analyst||INR 5,00,000|
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Future Scope of MBA Strategic Management
The future scope of candidates pursuing MBA Strategic Management is mentioned below.
- There are different and broad career opportunities for MBA Strategic Management, which in turn makes it easier for you to choose according to your requirements or passion.
- There are a number of globally recognized certificate courses that you can review to assist with your future career advancement.
- If you are interested in a career in risk management where the certificate course is offered by the globally recognized association GARP, you can prepare for Financial Risk Management and clear the mandatory qualifying test.
- You could learn CRMA, which is a certification course that will help you be identified as a professional employee of risk management assurance who can easily handle the profile of risk management.
- In Business Management, you can also opt for an MPhil or PhD degree.
In conclusion, MBA Strategic Management is a two-year postgraduate course designed to ensure that students understand how to make management decisions that increase the success of an organization. Under this curriculum, students will be taught the ability to evaluate business and strategy skills.
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