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LUXURY TOPS AS THE EMERGING #MBA SPECIALIZATION WORLDWIDE!

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LUXURY TOPS AS THE EMERGING #MBA SPECIALIZATION WORLDWIDE!

MANAGEMENT MASTERS

Pratibha Jain, overseas education consultant, profiles emerging specialisations offered by business schools across the globe

While experts continue to debate whether management education has lost its sheen, 3-schools across the globe are striving hard to retain the relevance of a management degree in a dynamic market scenario. This has led to a rise in a number of new-age MBA specialisations. Here are a few niche areas that students can consider:

1) LUXURY BRAND MARKETING AND MANAGEMENT

A rise in the urban elite class has opened up a clientele for luxury merchandise and services ranging from designer dresses, bags, handmade jewellery, watches, accessories and custom cars to premium vacation resorts and exotic real estate apartments. Creating an aura of exclusivity, prestige and social status around a product is a specialised and complex science. Luxury brand management, as an interdisciplinary subject, helps students understand the value associated with a brand and set a specific marketing plan for the product. Client association is an integral part of this field to keep the brand popular while retaining its exclusivity. A strong business management background, coupled with functional marketing practices, is essential far those who wish to make a career in this field. A luxury brand manager learns to constantly redefine luxury contours keeping in mind changing times, perceptions and tastes of the public. Students may opt for an MBA or a PG specialisation in European countries like the LIK France and Italy which are hame to some of the best luxury brands. Essec and HEC in France, International university of Monaco in Italy, Regents and Southampton University in the LIK and Columbia and NYU in the US also offer courses in luxury and brand marketing and management.

2) SPORTS MANAGEMENT

With a growing television audience for all kinds of games, sports is now a USS 200 billion industry annually. A career in sports management is for students with core business and management skills. The course modules focus on international sports governance, managing sports technology and innovation, business, finance and law. Aspirants can apply to universities in Australia, Europe and US. There are a number of sports management programme at the university of Lough borough and Coventry in the LK university of Alberta in Canada, IE in Spain, the university of Western Australia, La Trobe and Griffith in Australia, as well as the university of Virginia and the University of Massachusetts in the US.

3) LOGISTICS AND SUPPLY CHAIN MANAGEMENT

A large consumer market with mega malls and multiple outlets of the same retail chains has created a demand for products from different regions under one roof. A career in logistics and supply chain management is for students with strong management skills. A course in this field will train students in logistics, that is, managing transport, air freight, couriers and shipping, managing retail stores, etc. Qualified professionals can work with organisations with a need for co-ordination of resources like the real estate sector, hostels, hospitals, catering firms, transport management and large international trading houses, etc.

The logistics specialisation is offered by most a-schools such as Cranfield, Warwick and Aston in the UK, Rotterdam School of Management, HEC and INSEAD in continental Europe, and Purdue, Arizona State, Michigan State in the US.

4) MUSIC MANAGEMENT

Students who wish to build a career in music management must have a fair knowledge of music production, sound engineering electronic production management and marketing. A Master’s in music business management trains students in key business areas like finance, marketing, leadership, organisational management and entrepreneurship with special application to the music industry like knowledge of intellectual property and copyright laws, and a focus on the live music industry and revenue through digital content. The university of Westminster in the LIK aerklee College of Music, NYU, and University of South Florida in US offer music management courses.

Since most B-schools look for students with work experience, freshers should work in their field of interest for a short time before making the final decision. This will help them understand the way the industry functions as well as gauge their individual long term interests.

Publication: The Times Of India Delhi; Date: Mar 24, 2014; Section: Education Times; Page: 37

Luxury Connect Business School (#LCBS) offers specialized programs in *Luxury management in collaboration with International University of Monaco (#-IUM) .

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For more details contact us at +91 9811103268 or visit us at http://wuw.lcbs.edu.in.

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      Retailers Association’s Skill Council of India (RASCI) under aegis of National Skill Development Corporation (NSDC), A Government of India body, accredits Luxury Connect Business School (LCBS).

      LCBS has proudly created programs and systems which are in line with the above policy framework. Affiliation inspectors have certified our school as the only one following the prescribed international standard norms for retail in Luxury and premium goods & services. We have of course further specialized into ‘FASHION RETAIL’ and ‘LUXURY RETAIL’ via executive programs, on line programs, student programs and several certificate programs.

      We are proud to be recognized and contribute to the prime Ministers vision of a ‘Skilled India’.

      Medhavi Skills University is a renowned institution dedicated to nurturing the talents and skills of its students. With a strong focus on practical learning and industry-relevant programs, the university equips students with the knowledge and expertise required for successful careers in today’s competitive job market. Through its innovative curriculum, state-of-the-art facilities, and experienced faculty, Medhavi Skills University provides a dynamic learning environment that fosters creativity, critical thinking, and problem-solving skills.

      The university’s commitment to holistic development ensures that students not only excel academically but also grow as confident and responsible individuals, ready to make a positive impact in their chosen fields. LCBS is the academic partner to Medhavi in the luxury management domain.

      Medhavi Skill University appoints Luxury Connect Business School as it Sectoral Partner to deliver India’s 1st and only MBA in Luxury Brand Management.

      Retailers Association’s Skill Council of India (RASCI) under aegis of National Skill Development Corporation (NSDC), A Government of India body, accredits Luxury Connect Business School (LCBS).
      LCBS has proudly created programs and systems which are in line with the above policy framework. Affiliation inspectors have certified our school as the only one following the prescribed international standard norms for retail in Luxury and premium goods & services. We have of course further specialized into ‘FASHION RETAIL’ and ‘LUXURY RETAIL’ via executive programs, on line programs, student programs and several certificate programs.
      We are proud to be recognized and contribute to the prime Ministers vision of a ‘Skilled India’.