Hi Pegasian ,
It is useful when applying to a B-school to know what are the different specializations on offer. The decision on specializations is a tricky one, and most B-schools ask students to choose in the 2nd year of the course. This however does not excuse you from questions on specializations at the time of your admission interview.
Ideally a decision on the specialization should be made based on your interest, aptitude and personality. It is often difficult though, to measure each of these and often more compelling reasons to choose a specialization like 'What's hot' & 'Which areas pay the most' tend to come to the fore when making this decision.
It is proven that the work you are most likely to enjoy and be successful in is work that best matches your abilities. Certain specialization will be a better fit for you than others, and if you work in a field that doesn't match your natural abilities, you may find your work unrewarding, unchallenging, difficult or unpleasant. While no one can guarantee of success or happiness, this assessment will be useful in narrowing down your best choice.
To get an insight into what your Aptitude & Personality suggest are ideal spheres for you to pursue please click on the link at the end of this note. Please remember to be honest while attempting the questionnaire and to answer as how you are and not how you would like to be (The real self and not the ideal self).