Speciality MBA degrees are those, which are earned through having a highly targeted program and have very specific focuses. For instance, Master of Computational Finance, Master of Industrial Administration, Master of Health Care/Hospital Administration, Master of The Business and Economic Development, Master of Global Trade and Transportation Logistics (GTTL), Master of Real Estate, etc.
The programs for speciality MBA degrees do not commonly cover the same management training and knowledge that a traditional MBA program does, however, offer an extensive training, related to a specific field. The primary reason for the speciality programs' elaboration is that there are certain business areas, which are hard to pursue without targeted training.
The majority of European business schools, today, present a vast variety of speciality MBA degrees along with standard MBA degrees. Let us bring several examples and more or less detailed descriptions of what one is supposed to have.
The Global Business Program comprises everything from emerging markets and a foreign competition to multinational companies and from collaborative ventures to new trade agreements and boundary-less technologies.
The Business and Economic Development Program teaches how to help small businesses grow, how to create and retain jobs and stimulate an economical growth.
The Global Trade, Transportation and Logistics Studies Program prepare the students to advance in the international trade and transportation systems.
The programs mentioned above are available at the University of Washington, which grants even more speciality MBA degrees in a variety of business areas, including marketing, management, finance or accounting.
One of the most surprising and popular speciality MBA degrees, offered by the US online schools, is the Master of Science in Nursing/MBA/HCM. The program is designed to provide nurses with a unique experience both, in advance nursing and business management skills. The program supplies the students with the knowledge and skills, necessary to improve patient services, as well as to manage contemporary innovative health care delivery systems. Applicants to this program must meet the following requirements:
1) Registered Nurse License
2) Nationally or regionally accredited U.S. bachelor degree
3) Three or more years' work experience in health care.
At the end of the studies, a candidate can confidently perform in a number of sophisticated management roles in the health care service.
Why to prefer speciality MBA degrees to standard MBA degrees? The primary reason is that you want to have a profound knowledge of the particular business sphere and you are not inclined to receive information that is more general. Another very important factor is that you already work in a particular narrow business sphere and are in an urgent need of more knowledge and academic experience, and, what is more vital, a degree to advance. Nevertheless, no matter what reasons you have, it is recommended first to work for a traditional MBA program, following the principle "think globally, act locally".