PGDM Specialisations 101: What You Need to Know
Pursuing a Post Graduate Diploma in Management (PGDM) is a pivotal step in the journey of many aspiring managers and leaders. One of the unique aspects of PGDM programs is the opportunity for students to specialise in various domains according to their career aspirations and interests. These specialisations not only allow students to gain in-depth knowledge but also equip them with specialised skills that are tailored to specific industries or roles.
In this blog post, we will delve into the world of PGDM specialisations, exploring the nuances of popular specialisations such as Finance, Marketing, Human Resources, and Operations.
Understanding PGDM Specialisations
PGDM specialisations typically occur in the second year of the PGDM program, following a foundational year where students are exposed to core management subjects.
One of the prominent specialisations is PGDM in Finance, designed to groom financial wizards who can navigate the complex world of finance with finesse. This specialisation is important not only for today's job market but also for the future of someone who is interested in finance and loves the world of capital markets, banking, asset management, investment banking, wealth advisory, and alternate strategies.
During a Post Graduate Diploma in Finance, students learn how to read financial statements, evaluate company reports, predict and analyse the impact of economic trends, understand the nuances of the capital market, and find a balance between risk and rewards. Students also learn about Financial Markets, Services and Institutions, Corporate Valuations. Security analysis and Portfolio Management, Derivatives and Risk Management and Financial Analytics.
Another compelling specialisation is PGDM in marketing. The PGDM program in Marketing specialisation encompasses a wide range of hard skills essential for success in the field of marketing.
It covers market analysis, consumer behaviour, branding, product development, pricing strategies, marketing research, and economics through comprehensive, innovative, and engaging CPA – Curriculum, Pedagogy & Assessment (a framework used in education to guide the development, implementation, and evaluation of teaching and learning practices).
Various trainings like sales, Excel, programming languages, and digital marketing expertise are included, in addition to industry certifications to stay up to date.
Experiential learning is a key component, with industrial visits, immersions, and live projects.
Industry connections through guest lectures and workshops, while mentorship programs and alumni panels offer valuable guidance.
Another important specialisation is PGDM in Human Resources (HR). HR professionals play a vital role in performing employee to employee (E-2-E) related functions (processes and interactions within an organisation that involve or impact employees directly). Assessing employee productivity by applying analytics in different HR functions contributes to organisational & individual development. Critical HR functions may involve talent acquisition and onboarding, compensation & benefits, performance appraisal and management, learning & development, and employee relations. One must be a strategic thinker, empathic, collaborative, analytical, and scenario analysis expert to carry out HR tasks efficiently.
Operations management involves the tactics businesses use to boost operational and production efficiency. Businesses use the fewest resources feasible while working to satisfy customers' needs to the highest standard in order to run efficiently and profitably. The specialisation-specific skills for operations management imparted at Thakur Global Business School include:
Supply Chain Analytics – Through Excel and Python-based examples
SAP – Material Management Module (Procurement cycle, invoice generation etc.)
Six Sigma – Training for exposure to quality and control concepts of six sigma
Service Operations skills – Customer service, Team management, process design, process refinement
While the specific PGDM course syllabus may vary depending on the institute offering the PGDM program and the chosen specialisation, there are certain core subjects that are commonly included in PGDM curriculums. These may include:
Digital Business Transformation
Business Analysis for Effective Decision Making
Quantitative Techniques for Decision-Making
Principles and Practices of Management
Operations and Supply Chain Management
In addition to these core subjects, students pursuing PGDM specialisations undertake elective courses and projects related to their chosen field of study.
The PGDM curriculum in the best PGDM colleges like TGBS Mumbai is designed to provide students with a well-rounded education in management principles and practices while allowing them to specialise in their areas of interest.
The PGDM curriculum typically spans over two years and includes a mix of classroom lectures, case studies, group projects, internships, and industry interactions. Students are encouraged to develop critical thinking, problem-solving, leadership, and communication skills through experiential learning opportunities.
The PGDM course structure is typically divided into semesters, with each trimester/semester focusing on specific subjects or themes.
The first year of the program usually consists of core courses that provide students with a strong foundation in management principles.
In the second year, students choose elective courses based on their chosen specialisation, allowing them to delve deeper into their area of interest.
In conclusion, PGDM specialisations offer students the opportunity to tailor their education to suit their career aspirations and interests. Whether you're passionate about Finance, Marketing, Human Resources, Operations, or any other field of management, there's a PGDM specialisation out there for you. By choosing the right specialisation and leveraging the resources available in your PGDM program, you can pave the way for a successful career in the dynamic world of management.
Unlock your potential by researching best PGDM programs and choosing the specialisation that aligns with your goals.
