Can you give detailed information about Management as a career?
The basic job of managers is to maximize profitability and make the best usage of the available resources to a company. There are five core tasks that a manager has to perform. These include planning, organising, staffing, implementing, and controlling. In other words, A managers’ job is getting things done through people. Directing and coordinating with people is at the center of a manager’s activity.
The areas of operations can be broadly classified as:
Personnel/Human Resources Management: You will deal with recruitment, training, placement, promotion, etc. Problems like labour, discipline, dismissals, etc. would also be part of your portfolio.
Finance Management: You will budget the plans, execute them, make financial analysis and come up with profitability figures. You will be responsible for the financial health of the organisation.
Production/ Operations Management: You will plan the nitty-gritty of the operation of the firm and control and co-ordinate the entire show. You will look after product development and design; procurement of raw materials. You’ll also handle inspection, quality control, cost analysis and control and preparation of work standards.
Marketing Management: You will take the goods and services to the end user, with increased emphasis on the profit factor. You will come up with new strategies to sell your goods and services efficiently and inexpensively to the end user. Keeping up with the needs of the customer, subsequent development of products and services according to the needs, distribution and collection and analysis of customer feedback will form a part of your job profile.
Sales: It’s a part of the marketing management. This is the end of the line. It’s your job to get money from the customer. The job of the sales team is to achieve the sales target set by the marketing team.
IT or Systems: This is imperative in today’s organisations as they are depending on Information Technology to run as a backbone of all the operations. So here, your job will be managing information systems, i.e., the hardware, software, and various applications of IT.
International management - This deals with all areas of international trade and business including aspects like foreign collaboration, technology transfer and international management strategy.
Technology Management - Managing the policy, financing and marketing of technology is the specialised task of the technology manager.
Hotel / Hospital Management - This covers all aspects of running hospitals and hotels efficiently.
Resource and environmental management - this involves resource planning and studying the effects of business and industry on the natural environment.
Rural management - this deals with areas like rural marketing, rural behaviour and environment, etc.
The scope for management graduates is a virtual goldmine. You can join any industrial houses, manufacturing companies, corporations, marketing organisations, financial concerns, trading companies, banks, public sector enterprises, multinational corporations or any non-governmental organisations. You could also work for international bodies like the World Bank and the United Nations. You name it, they have it! You will be required by any organization. You can also get lucrative opportunities in consultancy organizations.