MANAGEMENT as CAREER after 12th

Management authors Koontz and O’Donnel have defined Management as ‘an art of getting things done through and with the people’. Every organization irrespective of its nature of business is set up with a certain goal which is known as organizational goal. Overall responsibility of achieving organizational goal rests with the top management. Management therefore is converting crowd into a team and transforming their efforts into performance.

In India 22% of 12^th pass out students enroll for higher studies and only 2-3% enrolls for post graduation. Out of this hardly 0.5% enroll for management education or an MBA degree. IIMs, ISB, ICFAI University are some of the reputed business institutions that offer quality Management education in India. IITs too have started offering courses in Management now. Traditionally MBA degree has been offered in 3 basic specializations viz: Marketing, Finance and Human Resource. However, with the change in the size and complexity of Indian economy Industry specific or sectoral MBAs are being offered, for example MBA in Supply chain Management, MBA in Hospital Administration, MBA in Retail Management etc.

Management profession is the only profession which is global in nature, helps in fulfilling career dreams like a good job, good salary package and high position in the company. Management education not only focuses on the domain but also on the self development skill which makes the MBA professional stand out of the crowd.

Opportunities: - Indian economy is now a trillion dollar economy with an average GDP growth of 5+%. It is the third fastest growing economy in the world with the youngest population. Indian companies export to more than 50 countries and India is house to 100+ Fortune 500 companies. India is a truly liberal economy which is going global and acquiring companies in other countries. It will be interesting to note some of the recent acquisitions made by Indian companies:-

i.                    Tata Motors acquired majority stake in Jaguar Motors

ii.                  Mahindra & Mahindra has bought Renault Logan

iii.                Bharti Airtel has bought stake in ZAIN Telecom

iv.                 Tata Steel bought Corus Steel

v.                   Mittal bought Arcellor

vi.                 Suzlon bought R E Power

This growth story appears very attractive. However, things are not so glowing on some domestic front and there is still a long way to go and miles to achieve:

a.      Only 2% of Indian population is investing in stock market

b.      Only 15% of Indian population is insured

c.       Only 5% of retail market is in organized sector

d.      Banking branch density is one branch for 15000 population

e.      70% of India still lives in the village area without basic necessities like power, health and education facilities.

f.        Interest rate in India is highest in the world

Huge budgetary outlay will be required to fix these shortcomings which will result in demand for professional with knowledge and skill in the corporate world. This decade will belong to the one who has knowledge & Skill and not marks.

CAREER OPTIONS: There are various career options available for management graduates across industries. The type of job will however will depend upon MBA specialization, work experience and individual skill set. Let’s have a look on some of the opportunities that exists in various domains:-

Marketing: Marketing is the most sought after career path in management. Most large businesses and many small businesses utilize marketing professionals in some way or other. Career options could exist in areas of Sales, Brand/Product Management, Market Research, Business development roles in sectors like FMCG, Consumer Durable, IT, Automobile, Banks & Financial Intermediaries and consulting.

Finance: Finance is another popular career option. Possible area of activity includes Commercial Banking, Corporate Finance, Investment banking, Consultancy and Business Advisory, Risk Management, Merchant banking, Project Finance and credit rating. Job titles include Financial Analyst, Budget Analyst, Finance manager, Financial Planner and Investment Banker etc.  

Human Resources: Areas of activity include HR Planning and development, Recruitment and Selection, Wage and Salary Administration, Training & development, Industrial dispute redressal, Collective Bargaining, Consulting etc. Possible job titles are HR Manager, Training Manager, and Personnel Officer etc.

Manufacturing & Operations: Opportunities exist in the area of Business Process redesign, strategic reviews and supply chain consulting, Purchase, vendor Development, Budget Planning, ERP Consulting etc.

Information Management: Business Analysis, IT/BPO services positions, ERP Consulting etc.

There are various other domains and areas where a management graduate can work and make career. Beauty of management profession is that you get an opportunity to bring tangible change in the organization and can easily get noticed by superiors. This offers huge potential for earning reputation and money. India is sitting on the threshold of opportunities with gradually becoming manufacturing and service hub of large MNCs. This is India’s decade. Younger generation must notice this and leverage the opportunity in their favor.  

 By,

 Anjum Parwej

HOD SISTec MBA,

School of Management Studies, Bhopal