While many individuals pursue a Master of Business Administration (MBA) degree to grow their career, not all of them share the same career aspirations.
Some students may want to gain the skills to pursue leadership roles. Others may want to develop their expertise in a particular area of business to expand their knowledge, skill set and network. Depending on their professional goals, they can choose to either study a general or specialised MBA in their preferred field.
In this article, we discuss what an MBA specialisation entails, specialisations offered in Australian MBA courses and what factors to keep in mind when choosing an MBA specialisation.
What is an MBA specialisation?
Many universities in Australia allow students to specialise in particular fields with their MBA course. In these courses, students are given the option to take a selection of themed units to tailor their MBA programs to fit their career goals better. These specialisation units focus on industry-specific skills to help students further their knowledge in particular business areas. If they choose to take non-specialisation electives, they will graduate with a general MBA degree.
Students can also find MBA courses that focus completely on specific specialisations. These programs usually have pre-determined units and electives may not be offered. An example of this type of MBA is Torrens University Australia’s MBA in Innovation and Leadership. The online MBA requires you to complete 12 core units.
You can find many types of specialisations offered in various MBA courses. Some institutions even provide a dual specialisation option which allows you to complete your MBA course while specialising in two different areas. Specialisations may also be subject to availability based on the program format. For example, Southern Cross University’s online MBA course only offers a specialisation in health services management.
Different types of MBA specialisations
Discover some of the common MBA specialisations in Australia along with examples of MBA units students may study in their course:
General MBA
An MBA without a specialisation typically covers a broad overview of vital business areas such as marketing, finance, human resources and more. These topics are designed to develop valuable and transferable skills to manage a business successfully like leadership, strategic thinking and problem-solving. This MBA is suitable for those aiming for managerial roles without a specific industry in mind.
Units:
- Accounting for Decision Making
- Strategy and Innovation Management
- Corporate Governance
- Economics for Managers
- Leadership in Contemporary Organisations
Griffith University's MBA program covers various business facets, such as change management, strategy and innovation, finance, sustainability and people management. You can develop the knowledge and skills needed to step into senior leadership roles across diverse sectors.
While completing an MBA at Griffith University, students study courses in sustainability, accounting and reporting, finance, people management, strategy and innovation and managing change through responsible leadership. Through study, you will be equipped with an understanding of the key functional areas within a business and the challenges facing businesses.
Finance
A specialised MBA in finance equips students with advanced skills in finance management and analysis. These skills allow you to examine an organisation’s financial health as well as make informed business decisions and investments. This specialisation prepares you for a leadership role in corporate finance, investment banking, financial consulting and other sectors of finance.
Units:
- New Venture Finance and Private Equity
- International Business Finance and Banking
- Capital Markets
- Corporate Financial Management
- Derivatives and Risk Management
The specialised MBA in finance offered by Victoria University includes 12 units consisting of eight core business units and four specialist units. You can hone your financial acumen by learning about accounting and financial management as well as analysing financial data.
VU Online's MBA (Finance) isn’t just about numbers, it’s also about gaining the financial knowledge to drive corporate strategies and engaging discussions resulting in optimal business decision-making.
Across 12 specialist units of study, you’ll develop the strategic, analytical and financial skills demanded of today’s senior business leader. You’ll also network with a community of like-minded peers via VU Online's intuitive and immersive online learning environment.
Accounting
You can develop your accounting expertise by studying a specialised MBA in accounting. Besides learning about financial regulatory standards, you can gain technical skills from these specialisation units like financial reporting, auditing and taxation. These skills can help you improve a business’s financial performance and profitability. As a graduate, you can explore various leadership roles in finance, such as auditing manager, finance manager and chief financial officer.
Units:
- Business Accounting
- Professional Auditing
- Taxation Law and Practice
- Company and Financial Reporting
- Accounting Information Systems and Processes
You can specialise in accounting when you enrol in Deakin University's MBA program. The units in this specialisation can help you gain an understanding of accounting for management, principles of income tax law and corporate auditing.
Deakin’s MBA will ignite your imagination, creativity and business mindset, setting you up to be a future business leader. The university has a long history of delivering unique, student-centred opportunities to upskill in future-focused areas of business. Their residential intensives and study tours allow students to learn through immersive, collaborative and culturally enriching experiences while gaining credit towards their degree. You will learn from highly experienced and PhD-qualified professors and industry adjunct professors who are globally respected leaders in their fields. Deakin's industry partners and professors work together to create a curriculum that is grounded in the everyday reality of business, ensuring that the MBA reflects the contemporary challenges you will face in your professional endeavours.
Healthcare management
By studying a specialised MBA in healthcare management, you can learn how to manage and lead a workforce in the healthcare industry. You can gain a deep understanding of current developments, policies and challenges faced by this sector. This MBA degree can help you secure managerial role opportunities in healthcare organisations, including private and public hospitals, clinics and pharmaceutical companies.
Units:
- Health Law and Ethics
- Leadership in Healthcare
- Health Informatics
- Health and Aged Care Systems and Policy
- Systems in Australian Healthcare
The University of Adelaide’s MBA specialisation in health management can give you the skills and confidence to elevate your career in the healthcare sector. Some industry-relevant units that you will learn include Management Challenges in Health and Doing Business in Health.
The University of Adelaide 100% online Master of Business Administration (Health Management) will build your confidence to lead, expand your network and advance your career in the healthcare industry—all on your terms. You will emerge with the vision and confidence to drive real organisational, industry or even societal change.
This innovative online learning environment has all the support, networking and flexibility your busy work and family life demands. Open doors in public health sector and apply now for an online MBA (Health Management) with South Australia’s leading university for graduate employability*.
* QS Graduate Employability Ranking, 2022.
Project management
The units in a specialised MBA in project management are designed to help students understand how to manage the planning and implementation of projects. You can gain the skills to allocate resources effectively, identify risks and ensure operations run smoothly. Obtaining this MBA degree can improve your career prospects in project management roles working in various industries.
Units:
- Strategic Project Management
- Project Initiation, Planning and Execution
- Project Risk, Finance and Monitoring
- Project Governance and Resource Management
- Operations Management
The MBA course from CQUniversity features a four-unit specialisation in project management. You will learn fundamental project management concepts, how to lead lean projects and acquire resources to achieve project goals.
CQUniversity's world-class Master of Business Administration (MBA) is delivered by highly qualified course leaders with real-world business and public sector experience to support your career advancement. You will study contemporary people management and emotional intelligence models to lead with influence and integrity. Designed for emerging and aspiring leaders, this MBA focuses on developing contemporary people management skills with the know-how to tackle the changing landscape of the public sector, not-for-profit, social and ethical purpose organisations.
Develop your skills and knowledge in a broad range of management and leadership responsibilities, in areas such as strategy, marketing, people management, operations management, economic and change management, and choose a major to suit your industry or career goals.
Tailor your MBA to align with your industry or career and choose to major in emergency management, forensic analysis, project management or general management.
Through interaction with academics, colleagues and various members of the business community, you will gain different perspectives and approaches to current and emerging business issues. Contextual learning and reflective practice forms the basis for your personal and professional development to ensure your learning experience is relevant and practical.
An MBA from CQUniversity provides you with the opportunity to advance your management career and become an influential leader in today's fast-paced and ever-changing environment.
Business analytics
Students can learn the skills to understand and interpret data by specialising in business analytics in their MBA studies. These skills can help you evaluate business processes, identify areas for improvement and make data-driven decisions as a business professional. Possible careers for graduates in this specialised MBA include business consultant, research analyst and business analyst.
Units:
- Analysing Business Data
- Data Analysis for Decision-Making
- Predictive Analytics
- Artificial Intelligence and Insights
- Cloud Enterprise Systems and Analytics
The International Master of Business Administration (Business Analytics) provided by the University of South Australia (UniSA) offers you a solid understanding of various business analytics techniques and concepts, allowing you to progress further as a business professional in a global context. Learn about data visualisation and communication, machine learning and enterprise analytics.
The International Master of Business Administration (Business Analytics) will develop your knowledge of the global business environment and enable you to maximise your career development opportunities and employment prospects. You will benefit from a range of experience-based learning opportunities, including overseas study trips and business mentorships with a senior business leader through the Executive Partners Program.
Your studies will combine a sound understanding of the global business environment with the foundations of business analytics concepts and techniques. You will learn to analyse data, identify patterns and use forecasting models to predict future outcomes. You will also study specialised areas such as enterprise analytics, machine learning for business professionals and data visualisation and communication – the knowledge you will need to accelerate your career as a business professional in an international context.
The Business Analytics specialisation is designed and taught by academics actively involved in collaborative industry research. Courses draw on international research and professional experience both locally and abroad, so they are relevant, practical, and applicable to today’s environment. You will develop the expertise and skills for effective professional practice.
Marketing
A specialised MBA in marketing allows you to gain proficiency in various marketing tools and techniques. Units in this specialisation can cover different marketing areas, such as digital marketing, search engine optimisation (SEO), market research and more. Developing expertise in these fields allows you to plan and execute effective marketing campaigns that can contribute to organisational success. As a graduate, you can find employment in businesses across various sectors that require marketing functions.
Units:
- Consumer Behaviour
- Researching Markets
- Digital Marketing and Analytics
- Integrated Marketing Communications
- Brand Development and Marketing
One of the specialisations in Charles Sturt University's MBA is marketing. The units are designed to give you marketing knowledge that can complement your business acumen. You will learn about marketing value propositions, segmentation, effective marketing mix and more.
By completing this Master of Business Administration, you will cultivate advanced business skills, from marketing for managers to economics for business. Then, customise your postgraduate business degree with a specialisation: Hone your strategic business planning skills, undertake leadership skills training, study HRM, or focus on finance, marketing or organisational transformation.
This course is part of an articulated program of study. Articulated programs allow you to build on your studies to achieve the right level of qualification for you.
International business
If you have aspirations to lead a global organisation, consider pursuing a specialised MBA in international business. You can learn various business topics in the international context, such as international trade, government regulations and global business strategies. This specialisation helps you prepare for a leadership career on a global scale.
Units:
- International Marketing and Export Management
- International Business in the Asia Pacific Region
- International Trade and Investment
- Global Marketing Strategy and Planning
- Managing Human Resources in International Organisations
Flinders University offers an MBA specialisation in international business that covers diverse current business issues in a global context. You can further your expertise in international business strategy, marketing, management and finance.
The Master of Business Administration (International Business) provides a comprehensive foundation in core business principles with a specialisation in international business. With sustainability built-in to every topic, industries 4.0 and 5.0 will come to life beyond the concepts.
This specialisation is designed to prepare leaders to work on a global scale - to take on positions in multinational organisations.
The course is designed to provide a strong foundation of business knowledge, skills and attitudes to support ethical, global business management of organisations including private sector business organisations, not-for-profit organisations and public organisations. Through experiential learning techniques, students will develop knowledge and skills to conduct independent research, carry out industry and discipline-related projects, and relate their learning to their individual business experience.
Entrepreneurship
Gain the tools and skills you need to start your own business by specialising in entrepreneurship in your MBA program. The units in this specialisation can help you develop an entrepreneurial mindset that can bring business ideas to life or become an innovative leader in business organisations.
Units:
- Small Business Administration
- Venture Planning
- Growth Management
- Opportunity Discovery
- Project Management for Entrepreneurial Ventures
Kaplan Business School's MBA course includes a specialisation in entrepreneurship, where you can learn how to incorporate entrepreneurial activities within your current organisation or obtain the skills needed to start your own business.
An MBA can advance your career, expand your professional network, offer higher earning potential and develop your leadership skills.
You will have the opportunity to tailor your degree by selecting electives aligned with your interests and career requirements. If you would like to focus on a particular field, Kaplan Business School offer eight specialisations.
Supply chain management
A specialised MBA in supply chain management allows you to expand your knowledge of the theories, principles and frameworks involved in the operation of a supply chain. You can gain the competencies required to manage various aspects of a supply chain effectively, which includes logistics, distribution and production. As a graduate, you may explore a variety of careers in this sector, such as procurement manager, purchasing manager and inventory control manager.
Units:
- Supply Chain Management
- Logistics Management
- Operations Management
- Strategic Procurement
- Managing Sustainable Value Chains
The units in Swinburne University of Technology's MBA specialisation in supply chain innovation are designed in consultation with industry partners and combine supply chain management, data analytics and design thinking. Upon completion of this course, you have the opportunity to add a Six Sigma Green Belt to your qualifications.
Develop your entrepreneurial and leadership strengths with the Master of Business Administration (MBA). Renowned for its industry connections, the MBA delivers practical learning with a focus on leadership and change, innovation and entrepreneurship, ethical practices and social responsibility.
Hospitality management
MBA students who specialise in hospitality management can expect to gain industry-relevant skills that can help them become leaders in the hospitality sector. You can learn about the management of staff members in a hospitality business, customer service and operational challenges affecting the industry. Acquiring this specialised MBA qualification can boost your career prospects to work in leadership roles in hotels, resorts, travel agencies and other tourism and hospitality establishments.
Units:
- Global Hospitality Operations Management
- Business Events Management
- Destination and Visitor Management
- Managing in Service-based Industries
- Strategy and Leadership in Tourism and Hospitality
Edith Cowan University offers a hospitality management specialisation in its MBA course. It equips you with the knowledge and skills required to pursue a career in senior hospitality management. The topics covered in this specialisation include hospitality enterprise management, operational and strategic challenges within the industry as well as staff and customer management.
In a globally competitive environment, it is essential to build capability by creating climates and cultures conducive to innovation and advancement. This program provides students with the ability to respond to challenging situations in complex and modern organisations.
It also builds and further develops problem-solving skills, and effective interpersonal and relationship management skills, with a focus on personal and professional development.
Human resource management
Specialising in human resource (HR) management can give you the skills to create a healthy and dynamic workplace culture. You can learn how to manage teams, resolve conflicts and build inclusive work environments. These specialised units can also shed light on contemporary HR issues faced by businesses. Acquiring this MBA degree with this specialisation can help you thrive as a business-driven HR professional or in any people management role.
Units:
- Enabling Diversity and Inclusion
- Performance Management and Rewards
- Advanced Recruitment and Selection
- Employee Relations
- Human Capital Analytics
The human resource management specialisation in the University of Newcastle's MBA includes units that can advance your understanding of various human resource areas, such as employment relations, conflict resolution and organisational development.
The Master of Business Administration program is designed to provide students with a range of analytical, strategic, and leadership skills that will prepare them for increasingly competitive careers in business management in the corporate and public sectors.
The program offers a grounding in fundamental business areas such as accounting, organisational behaviour, marketing and management. Analytic and problem-solving skills are emphasised through an applied understanding of the theoretical framework within which today’s managers must operate, as well as the acquisition of practical skills in teamwork, writing, presentation and time management. The ability to cope with rapid organisational and technological change is developed through an understanding of organisational behaviour, information systems and organisational change and development.
Leadership
A specialised MBA in leadership can help refine your capabilities to lead teams and organisations. This specialisation allows you to understand the principles of good leadership as well as the challenges you may face as a leader. Learning these units can help you determine your own leadership style and what works best for your organisation. This MBA specialisation is suitable for anyone aiming to enter more senior leadership positions.
Units:
- Leading and Facilitating Teams
- Leadership in Crisis and Recovery
- Responsible Leadership
- Managerial Effectiveness
- Organisational Change and Transformation
In Curtin University’s MBA, you learn about the current and future challengers that leaders face. The units will give you a better understanding of leadership concepts and styles, with topics such as organisational behaviour, working with teams and strategic management.
Achieving a Master of Business Administration (MBA) from Curtin University means you hold an internationally respected qualification from an elite global business school – recognised through triple accreditation by EQUIS, AACSB International and EFMD (Accredited MBA). Curtin is also respected as a signatory to the United Nations Principles for Responsible Management Education.
The university's MBA gives you fundamental skills in financial management and economics and business leadership, decision-making and organisational strategies that underpin sustainable business practices. These areas of expertise align with contemporary practices and challenges in the industry and reflect the unpredictability of global business markets.
Social impact
Aspiring and existing leaders who want to lead positive transformational change within their organisation can specialise in social impact during their MBA studies. In this specialisation, you can gain skills and knowledge to drive social good while striving to achieve business objectives. This course is for professionals and leaders who want to make sustainable business decisions that drive systemic progress in the industry and community.
Units:
- Collaboration for Social Impact
- Corporate Responsibility and Accountability
- Creating Shared Value
- Design for Social Innovation
- Social Impact Investment
The University of New South Wales's MBA course allows you to specialise in social impact, which can help you cultivate business leadership skills to foster social progress within your organisation and beyond.
This Master of Business Administration (MBA) course is designed for professionals seeking an array of intellectual tools and frameworks to manage business and lead people, particularly where aspects of management intersect with changes in business and society.
The MBAX (General) is designed to help working professionals and aspiring leaders take the next step in their leadership careers. It offers the flexibility to study electives across a range of topics to develop a wide scope of expertise.
The program comprises core subjects and electives, all guided by industry professionals, giving you the flexibility to tailor your studies to your interests. You'll have the option to learn in various formats, choosing from online and face-to-face learning – or a combination of both.
How to choose an MBA specialisation
Choosing the right MBA specialisation is important to help you achieve your professional goals. You should consider various factors to make an informed decision, such as:
- Personal interests: Consider your personal strengths and interests. If you like dealing with numbers, you can look into specialising in accounting or finance in your MBA program.
- Professional objectives: Establish your long-term career aspirations. This can help you determine which MBA specialisation aligns with the role you’re aiming for.
- Industry trends: Deciding which industry you want to work in can help narrow down your options. You should also examine the market demand and job prospects for various specialisations to ensure your MBA degree gives you better job security if this is important to you.
- Networking opportunities: Studying an MBA program allows you to make valuable professional connections with your peers, faculty members and industry professionals. Choosing the right specialisation helps you to network with relevant people who can help advance your career.
- Program flexibility: Some specialisations are only available in on-campus MBA programs. If you’re looking for more flexibility to pursue your studies while working, you should consider MBA specialisations that are available online.
- Return of investment (ROI): MBA programs can be a costly commitment for many. Consider the expected ROI of your desired specialisation to decide if it’s worth pursuing to elevate your career.
Specialise in your best interest
An MBA degree can help you go further in your career. If you have a specific career path or industry in mind, you can choose to study an MBA program that offers a specialisation in that particular area.
Still undecided? Check out various MBA courses offered by leading universities in Australia to help you determine which program aligns with your professional ambitions.