Career In Business Management

Introduction

Many students feel inclined to enter the field of Business Management .For the school leavers the graduate degree courses - Bachelors in Business Management offers an early entry and has become a popular choice. Graduates however from a wide range of backgrounds opt for the MBA programme seemingly to enter the fast lane of career accomplishments .
Indian achievers in the global arena have made a lasting impact on the youth providing them with role models who have trudged the MBA track .People, nevertheles , ask questions about the sustainability of a management qualification as career patterns show a marked shift. The answer is a logical surmise . With the desire to move quickly and adeptly into the Board room for most enterprising young people the importance of MBA cannot be undermined . Nevertheless what seems most obvious is the growing value of cross functional education and experience. Cyber professionals with management skills should be in demand for their ability to employ analytical and logical paradigms at work . Technical and professional experience and basic skill to understand new technologies with a comprehensive MBA experience will perhaps remain the surest route for survival . Management programmes seek to develop analytical, conceptual, interpersonal and decision making skills. It nurtures confidence and ability to deal with myriad problems of the commercial world with competence. The courses at the prestigious management schools of the country aim at presenting realistic challenges to the students in his efforts to prepare himself for a responsible career.

Nature of Work.

Areas of specialisation

While management is a broad term and management education comprehensive, a management personnel may work in one of these key areas :

Marketing/sales

Production/engineering

Finance/accounts

Personnel

Materials buying/purchase

Marketing /Sales

The skills of a sales manager are different from those of a marketing manager. Successful sales management lends itself to motivation of the sales staff who book orders from shops, from distributors, who stock the company's goods, they then deliver them according to company orders, and keep liaison with shopkeepers in the absence of the company personnel. Successful marketing, on the other hand, depends on the study of consumer needs. It involves working on marketing strategies to enhance product marketability. In most companies, sales and marketing management have common pool of managers, who start their careers in sales and then branch off to marketing jobs.

Entry into Sales
The entry point for the sales and marketing function is usually sales. In large firms like Hindustan Lever, Brooke Bond, Nestle and ITC, the best way to enter is as a management trainee and then from sales trainee to area sales manager, executive/manager. After almost six or seven years, talent becomes the key factor in deciding future promotions for a sales representative, however upward mobility is slow and rare. Changing to a smaller company as sales executive or assistant sales manager may be advisable from where you may become a dynamic sales representative with three year's experience. In a smaller company, personal worth is more noticeable and rewards are faster and less structured. With proven abilities in this field scope for growth is enhanced.

As a student how do you prepare?
Undergraduate courses leave students a great deal of spare time. Don't waste this time. Part time jobs, summer jobs even voluntary work is useful. Do sales work, as a part time salesman in a retail shop, or selling a new product at a mela or trade fair. It is good experience, this helps to enrich your bio-data.

Production/Engineering

In the industry production managers and engineers are functionally distinct, and movement from one function to the other is rare. Note the difference. Trainee>assistant production manager>production manager>factory manager>general manager (works)>technical director.
This is typical promotion channel in the production line while on the engineering side the career route is : Trainee>electrical/mechanical engineers, project engineer>factory engineer, chief engineer. In engineering companies the distinction may not be too prominent. A B.Tech. may take on production management function and even shift to purchase and materials management, to quality control and production planning. There are some industrial firms who are feeder industries, i.e. they sell their material to other firms and not to consumers. In such firms the B.Tech. could even perform sales and marketing functions.

Entry into production or engineering
This requires only an engineering degree. Although some people enter as M.Techs. on MBAs this may really not be required, as on the job an entrant picks up necessary skills. In many firms still what is important is the drive to work for success rather than mere degrees.

As a student how do you prepare?
Build up a dynamic personality. Your interpersonal skills and a good record are certainly important. The most successful managers flourish on excellent managerial administrative qualities rather than technical expertise only.

Finance/Accounts

In most companies money matters was the responsibility of the accountant, a chartered accountant. Keeping company accounts, preparing balance sheets filing returns and preparing financial statements was the job of the chartered accountant. Gradually the need was felt for financial controls, and profitability estimates wherein stepped in the finance specialists. Arranging finances for short term use and credits from suppliers or manufacturing to reduce inventories were tasks which financial personnel took on and often they worked with top management to arrange for long term finance etc.

Entry to finance/accounts
Large and small companies vary in the functioning in this area.
Small firms - Accountants>Accounts manager>Finance Manager
Large firms - Manager costing, business manger, commercial manager, manager indirect taxation, manager direct taxation (note that the functions are more specialised).
Managers in finance are qualified chartered accountants except those who enter as commerce graduates. They begin as accounts assistants and make their way up. Business management graduates specialise in finance and can take over finance operations.

Personnel Management

Personnel management as a discipline has changed in recent years. This is true mainly in organisation which are open to change and consider human resources as the most important asset.
A personnel manager has a very extensive role to play and his areas cover human resource development, salary administration, recruitment, training, performance appraisal, staff welfare activities, management information, latest trends in manpower development, suggestions, on attracting and retaining manpower, disciplinary matters including industrial relations, drafting of rules and regulations and their implementation and helping the management achieve its business goal. In the present scenario, the personnel head in any organisation forms a part of the decision making core management team. His views are always solicited on matters pertaining to manpower planning and manpower recruitment.

Entry into the personnel department
Basic qualification in personnel management is essential to join this department. However, personal attitudes are given considerable merit i.e. a personnel manager is expected to be patient, empathetic and pleasant individual. People who like to deal with human beings , are generally understanding would be best suited to this profession. Training for personnel managers is imparted at most leading management institutes as specialisation. The leading institutes, however, are Tata Institute of Social Sciences, Bombay and XLRI at Jamshedpur. Structure of the personnel department may vary.
Social workers too are recruited in the personnel department under various managers to assist them in their function.
Qualified labour lawyers also find employment in this department.

Materials Management

This is a specialised function in firms dealing with engineering goods. It requires technical qualifications and study of materials management. The materials manager has to work for supplier development, since this is an area where indigenous producers have to be contacted for purchases. This field requires skills of negotiation, decision making ability and maturity. For bulk agricultural/mineral commodities, the material managers may be appointed on the basis of this experience.

Foreign Trade Management

International business management is perhaps today one of the most sought after management specialisations. Radical changes have taken place in the techniques and approaches to the management of international business. It is no longer a pure and simple marketing activity. Instead, it is increasingly becoming an integral part of the trade economic linkages between different countries. Specialisation within this field is the present trend, eg. There would be traders specialising in commodities, textiles, engineering goods, handicrafts, medical and chemical goods etc.
Export management is highly professional. Multinational and national export houses, trading houses, multinational banks provide employment to graduates in international marketing.
The Indian Institute of Foreign Trade, Institutional Area, Mehrauli, New Delhi is a pioneer institute providing training in this field.

Business Schools

The allure and the financial reward of a career in management have fuelled an unexpected boom in applications to business schools. Two words - balance and breadth - encapsulate the top schools of business in the country. To produce management generals and general lists, the curriculum in these schools balances the two main approaches to a graduate business education - the historical case-study method made famous at IIM, Ahmedabad/Jamunalal Bajaj, Mumbai and more theoretical or quantitative approach with heavy emphasis on economics, statistics and accounting at IIM Calcutta. These institutes have also been building a reputation for their international courses lately, specially in view of the foreign firms' increasing search for MBAs to assist them in their global approach to business. Nearly two thirds of the students at IIM/FMS/XLRI/Bajaj have engineering or science degrees. The keystone of the programme is to teach the student to learn the basis of decision making, to expose them to different types of organisational behavior, the idea being that management as a discipline and in practice deals with human and social values. Students can finish the course in two years with a summer session.

Entrance examination/Placement

The entrance examination are normally scheduled between December and April every year. The pattern of examination is nearly the same for all institutes. It requires an exposure in objective type questions in English, mathematics (mainly arithmetic), data interpretation, data sufficiency reasoning, comprehension etc. Selection in entrance examination is followed by group discussion and interview. Acceptance rate is approximately .25% (acceptance rate is the percentage of application accepted). The top five institute usually place students in jobs with salaries of Rs.50000 a month. Most placement are through campus interviews.

The best of the rest
In a recent survey of Business schools conducted by AIMA and Business India the ranking of the best 10 institutes follows this hierarchy.
IIM, Ahemedabad
IIM, Lucknow
IIM, Bangalore
IIM, Calcutta
MDI, Gurgaon
Faculty of Management Studies, University of Delhi
XLRI, Jamshedpur
Jumnalal Bajaj
SP Jain , Mumbai
XIMB, Bhubaneshwar
Source: Business India

University offering BBA/BBS/BBM of 3 years After 10+2

NORTHERN REGION

University of Delhi,College of Business Studies Jhilmil Colony, Vivek Vihar, New Delhi

Jamia Millia Islamia Jamia Nagar, New Delhi 110025

Himachal Pradesh University Shimla 171005

Guru Nanak Dev University Amritsar 143005

Barkatullah University. Hoshangabad Road, Bhopal 462026 (MP)

Ch Charan Singh University. Meerut 250005 (UP)

Devi Ahilya University. 169, Tagore Marg, Indore 452001 (MP)

Dayalbagh Education Institute. Dayalbagh, Agra 282005 (UP)

Dr. Hari Singh Gaur University. Gaur Nagar Sagar 470003 (MP)

University of Lucknow, Badshah Bagh Lucknow, 226007 (UP)

MP Bhoj University, Shivaji Nagar, Bhopal 462204 (MP)

Pt. Ravi Shanker University, Raipur 492010

WESTERN REGION

Sardar Patel University Vallabh Vidhya Nagar, Gujarat

Mohan Lal Sukhdia University, Pratap Nagar, Udaipur Rajasthan 313001

SOUTHERN REGION

Mangalore University Mangalore, Karnataka

University of Mysore, Mysore, Karnataka

Madurai Kamaraj University Madurai,Tamil Nadu

Sri Venkateshwara University Tirupati 517502 (A.P.)

Nagarjuna University Nagarjuna Nagar 522510 (A.P.)

University of Chennai, Centenary Buildings, Chepauk, Chennai 600005

Bharathiar University Coimbatore 641046

Andhra University Visakhapatnam 530003

Bharatidasan University Tiruchirapalli 620024

College of Management Studies Rushi Kenda, Vishakhapatnam 530045

University of Calicut, Malupuram Dt. Kozhikode, Kerala 673635

University of Kerala, Thiruvananthapuram Kerala 695034

Mahatma Gandhi University, Priyadarshini Hills Kottayam 686560

Kuvempu University, Shankaraghatta Shimoga 577451

Mangalore University, Mangala Gangothri 574199

Sh. Manonmaniam Sundaranar University, Abhishekapatti Tirunelveti, TN 627018

Mother Teresa Nomeus University, Anandgiri kodaikanal 624102

5-year MMS courses after +2

Few universities conduct 5 year integrated management course after +2. Details of MMS courses are given in subsequent tables. Birla Institute of Technology, Pilani, a forerunner in the introduction of management course for school leavers, admits students who have studied Physics, Chemistry and Maths in Class XII to its 5 year MMS course after +2.