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Choosing the Right MBA Concentration for Your Career

By Bo Breuklander, Associate, Digital Communications, AACSB International

The task of choosing an MBA concentration may be daunting, especially with the growing number of track choices. But before you choose just any track that looks interesting, keep in mind that your choice should ultimately come down to what you want to do with your career. For instance, how can having a specific concentration help you gain the job you want following graduation? Will this concentration gain the attention of prospective employers who view your resume? What types of advantages will you have after graduation with the particular concentration? 

Depending on how you answer the questions above, you may choose a generic concentration or one that is a more focused option. Today's MBA programs, particularly those at AACSB-accredited schools, offer a wide array of concentration choices. To help you learn more about the unique concentrations that are available (in addition to the traditional concentrations such as accounting, finance, management, and marketing), we've gathered information on several AACSB-accredited schools that offer unique MBA concentrations.

Energy and Environment
The Fuqua School of Business, Duke University, USA

"In this concentration, students will learn about the energy industry, how energy and environmental issues will affect businesses in the future; tools for analyzing energy and environmental problems; and strategies that business can use to succeed in an economy in which energy and environmental issues are much more important than they have been in the past. The variety of business and non-business electives listed below provide the opportunity for a student to choose courses to fit his or her interests, ranging from a focus on specific energy topics to a more general coverage of energy, environment, and sustainability topics."(www.fuqua.duke.edu/student_resources/academics/concentrations/energy_environment/) 

Social Entrepreneurship
The Fuqua School of Business, Duke University

"The Concentration in Social Entrepreneurship is designed for students interested in using their MBA skills in the entrepreneurial pursuit of social impact. MBA skills are seen as valuable and much needed in the social sector, and the core MBA program provides a strong foundation for any student looking to become a successful social sector leader. However, MBAs looking to use their skills and talents for social impact must approach their work thoughtfully, recognizing the unique challenges, opportunities, and qualities associated with trying to create social value. The Social Entrepreneurship Concentration exposes students to the skills, knowledge, and perspectives necessary to pursue social impact entrepreneurially, effectively, and pragmatically. This concentration is designed to serve students who aspire at some point in their lives to be social entrepreneurs, executives in social-purpose organizations, philanthropists, board members, or leading volunteers in their communities and the social sector."(www.fuqua.duke.edu/student_resources/academics/concentrations/social_entrepreneurship/)

Risk Management
Watson Graduate School of Management, Oklahoma State University

Calculating risk has become a main focus of controlling profit margins, enrolling in a risk management program may help you maintain a competitive edge in the market.

"The risk management concentration gives students a solid grounding in quantitative financial economic tools and methods as well as firm general management foundation from the rest of the MBA curriculum." (http://watson.okstate.edu/mba/fulltime/concentrations/risk/

Business Intelligence
Watson Graduate School of Management, Oklahoma State University, USA

This concentration prepares students for jobs in the data analysis, management, statistical methods and financial analysis, and marketing. "The business intelligence concentration requirements will meet requirements for students to earn a SAS certification in data mining, as well as provide a solid general management foundation from the rest of the MBA curriculum."(http://watson.okstate.edu/mba/fulltime/concentrations/bi/)

Telecommunications Management
Watson Graduate School of Management, Oklahoma State University, USA

Since the Internet became prominent, computing and telecommunications have vastly changed the way people communicate and do business.

"The telecommunication concentration provides students with an in-depth understanding of information systems. It provides a solid general business foundation from the MBA curriculum in combination with graduate level TCOM courses." (http://watson.okstate.edu/mba/fulltime/concentrations/tcom/)

Pharmaceutical Management
Rutgers Business School, Rutgers, USA

"Over the last decade, some of the most exciting advances in healthcare have been the result of pharmaceutical research and development. These life-enhancing discoveries have fueled amazing growth in this multi-billion dollar global industry, creating a new demand for talented, motivated individuals with a special knowledge of the healthcare and pharmaceutical industry.

Designed to answer this need, the Rutgers MBA in Pharmaceutical Management is a unique gateway to one of America's most respected and socially beneficial industries."(www.business.rutgers.edu/mba/concentrations/pharma) 

Latin American Business
Hough Graduate School of Business, University of Florida, USA

"This concentration combines broad international business skills with specific understanding of the economic policies, legal and business structures, and sociocultural traditions that shape the context of Latin American business. Language proficiency in Spanish and/or Portuguese is not required for the concentration, but is strongly recommended for students who subsequently decide to pursue positions in Latin American departments of US firms or in Latin American based industries."(http://floridamba.ufl.edu/traditional/concentrations.asp#LAB)

Security Analysis
Hough Graduate School of Business, University of Florida, USA

This concentration “studies financial statement analysis, security applications and corporate finance valuation problems.” (http://floridamba.ufl.edu/traditional/concentrations.asp#SecurityAnalysis)

Sports Administration
Hough Graduate School of Business, University of Florida, USA

This option is “designed to educate students to become administrators in a variety of sports settings. Included are the areas of intercollegiate, professional, and highly organized amateur sports.” (http://floridamba.ufl.edu/traditional/concentrations.asp#SportsAdmin)

Asset Management/Sales and Trading
Darden School of Business, University of Virginia, USA

"This concentration is designed to extend the valuation principles learned in the first-year curriculum to solve complex problems faced by asset managers and sales and trading professionals. The courses expose students to a variety of different financial markets and give students a deeper understanding for how companies are valued, which are critical components for either managing a client’s funds or executing security trades." (www.darden.virginia.edu/web/MBA/Academics/Concentrations) 

Consumer Marketing
Darden School of Business, University of Virginia, USA

"This concentration builds on brand management and will prepare students for careers in organizations where brand leadership is critical—in traditional consumer packaged goods, consumer durables, consumer services, consulting firms and even NFPs. This track focuses on the end-user as "customer,"offering the opportunity to gain insight into how customers search for information, processes that information, make purchase decisions, and become loyal, engaged consumers."(www.darden.virginia.edu/web/MBA/Academics/Concentrations/)

Deciding Whether to Pursue a Dual Degree in Business School

An increasing number of students are pursuing dual degrees in business school. For example, many students pursue an MBA due to the degree's prestige, but also really enjoy marketing, therefore; they decide to pursue a second master's degree (or dual degree) in marketing science. But, how do you know if this is the right choice for you? 

Determine if Your Career Path is in a Unique Industry that Requires More Knowledge
Is your goal to pursue environmental management, civil engineering management, or healthcare administration? All of these career paths require business skills to manage employees, budgets, operations, and more. Therefore, a dual degree in business and the specific field would be very helpful. Remember, to be an effective manager you not only need to be a good leader and skilled businessperson, but also someone who is knowledgeable about the trade/industry you are managing. This is why an increasing number of business schools are offering dual degree programs that are often very unique in nature. For instance, the Columbia Business School MBA program (an AACSB-accredited school) offers several dual degree options. The school offers an MBA and MS in Urban Planning, an MBA and DDS (dental and oral surgery), an MBA and MD, an MBA and MS in Social Work, and more. All of which are excellent programs if your goal is to not only become a dentist or doctor, but also open your own practice. Or, understand the business side of urban development. 

View all of Columbia Business School's Graduate Dual Degree Programs

Find Out the Length, Cost, and Format of the Program
Most dual degree graduate programs last an additional year if not longer. The same is true for undergraduate dual degree programs, which can require five years. Sometimes, tuition can be higher for these types of programs due to the cross function between schools on campus. For instance, lab fees, additional text books, and more faculty requirements. Also, find out if the program allows for part-time attendance. Some dual degree programs are cohort, or full-time, "lock step" with a group of students. These can be difficult if you plan on working.

Determine if a Dual Undergraduate Degree or a Single Undergraduate Degree and Master's Degree is Better
If you are at the undergraduate level and are considering a dual degree, consider graduate school. If you want a graduate-level degree, it may be a better choice to earn a single undergraduate degree in the primary discipline and an MBA afterward. For example, it may look better on a resume to have an undergraduate and graduate degree than a dual undergraduate degree. This all depends on the employers you are seeking and their job requirements. This can be difficult to decipher. Talk to a guidance counselor at your school, speak with professionals in the industry, and discuss your possible decisions with professors. All of these individuals will greatly help you determine which route you should take.

More Resources

Most university websites will provide detailed information about the differences in their dual degree programs. Therefore, start learning by visiting potential college sites and reading as much as possible. 

• Rutgers' website provides an explanation of undergraduate dual degree programs. 
• Florida State University's website also provides an explanation.

Deciding Between a Degree in Entrepreneurship and Business Administration

Many hopeful entrepreneurs have a tough time deciding between a degree in business administration (such as a bachelor of arts/science or MBA) and a degree in entrepreneurship (such as a bachelor of arts/science or master of science). Both degrees provide a wealth of skills related to running a business, so which one is right for you if you plan to pursue a startup opportunity some day?

Degree Programs in Business Administration
Business administration programs (both undergraduate and graduate) teach students foundational knowledge of business. These programs require that students take a variety of courses related to the many business disciplines. Most programs will allow students to take courses to minor or concentrate in a specific area if they wish to specialize their degree further (such as in entrepreneurship). Business administration programs require that students take accounting, finance, marketing, management (human resources and leadership), statistics, economics (macro and micro), and international business for starters. Programs that offer minors or concentrations in entrepreneurship will often provide several courses that students can choose from as electives. These courses often include topics such as business planning, strategic entrepreneurship, market assessment, and small business administration. If you have little experience or knowledge of general business concepts, a program in business administration with a concentration in entrepreneurship may be helpful. At the graduate level, many programs provide dual degrees, an MBA and a MS in entrepreneurship. This is often very useful since the degree can assist with a corporate career or a new business idea.

Degree Programs in Entrepreneurship
Entrepreneurship programs focus on the actual skills needed to plan, fund, and launch a new business. These programs provide students with courses in venture capital (skills to gain funds for startup), market assessment (skills to explore markets were there are opportunities for new businesses), business plan development (writing a business plan around an idea that can be proposed to an investor or group of partners) ... to name few. Students learn how to cultivate an idea into a business model that can become a viable product, service, or organization. Some programs focus more closely on the skills to start a business, while others provide a well-rounded approach of business and entrepreneurship knowledge. The type of program you choose will depend on your knowledge of business concepts (such as finance, marketing, and management). To be sure you select the program that fits best with you, visit the school's website and look at the program's curriculum. What classes will you be required to take? Are these the classes you want or the areas you need additional skills in? If there are classes missing, can you take additional electives in topics that you need (for instance, operations management)?

AACSB's student website provides a search engine that will find programs in both business administration and entrepreneurship. 

Visit the site to search for undergraduate programs.

Visit the site to search for graduate programs (when searching, be sure to search for both "masters gen" and "masters spec" to include both general business (business administration) and specialized business (entrepreneurship) programs.