If you ask me to describe the corporate world in one word; I would use the word spiders web. The web might look as a single unit; but it is a combination of loosely held strings that makes it strong and durable. The comparison may seem to be metaphysical, but it is not out of the place.Corporate world is not a single entity; it is complex structure of industries which are distinct from each other in size, nature and functions.MBA is a one of the widely considered educational program for those who wants make a career in corporate world. Being a reputed program, Masters of business administration (MBA) focuses on providing an insight to the students about the complexities of the business world. These students along with their regular studies are supposed to do a systematic research work and prepare as well as present a report on Industry sector analysis.
When you think about the economic activities, there are distinctive sectors that contribute to its growth; and no two sectors are identical to each other. Say for an example there is aviation on one hand and banking on the other hand, a management student needs to take a careful look into unique sectors and their nature to know the latest developments and to understand the multi-faceted domain of business. And for this only Text-book knowledge cannot provide enough assistance to the management pursuer, they need to do more research work, which will help them to get a firsthand knowledge. The reports and case studies that present Industry sector analysis, helps the student to develop required skills and aptitude that can help them to understand multifaceted functions in various sectors.
It becomes very crucial for the management students to get hold of the current happenings of the service sectors to get a panoramic view of the highly complex structure called business. Research and preparation of such reports help the students to understand which sector or industry has the potential to grow and which industry needs to embrace new policies for its growth. If take a look at the present situation you will realize that Indian industrial sectors are experiencing a boom, the management professionals with their astuteness for various business operations can help this sector to grow.
This educational program basically concentrates on equipping the students with necessary skills and attitude to deal with any crucial situation that can decide the profit and loss of the company. And to be able to handle business operations, it is very important that the MBA students (future professionals) take up a comprehensive study and understand the Industry sector analysis.
These management students who are seen as future executives and business leaders cannot afford to have a vague and hazy picture of a field that is highly unpredictable. Just imagine a businessman or a top executive decides to make an investment in any industry say FMCG, and has no idea of the current trends in this particular industry, he is sure to end up in great loss that might take toll of his professional career. However, for a person with adequate learning and knowledge of Indian industrial sectors it would not be difficult to take any such decision which can put his company on stake, as his updated knowledge will help him to examine the areas of risks and profits.
Superficial knowledge can never take you to the top; it is the in-depth understanding of the subject that will show the pros and cons. And for an MBA student, it becomes very much important to get an in-depth understanding of industrial sector analysis that can change the loss into profits and vice verse.