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Management

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Management

Summary

Management is one the most varied profession in the global economy with numerous opportunities ranging from consulting, entrepreneurship, human resource, general management, operation management to strategic planning. A person involved in the field looks in forecasting, planning, organizing, commanding, coordinating and controlling the processes of the organization for the effective internal as well as external functioning by managing people as well as resources.

Career Opportunities in Management

  • Sales
    Sales could be defined as "the holistic business system required to effectively develop, manage, enable, and execute a mutually beneficial, interpersonal exchange of goods, and/or services for equitable value". The main role involved in this profession is showcasing products and services, negotiating sales and providing after sale services through face to face interaction or telephonic communication.
  • Marketing
    Marketing as a career is the best field for people who like to strategize and identify patterns and trends. The various marketing job profiles include - project managers, marketing managers, market analysts, sales managers, etc. Identifying the target market for products or services, developing products, formulating pricing and sales strategies for business growth to increase profitability and to maintain public relations are some of the key roles in this domain.
  • Supply Chain Management
    Supply Chain Management as a career includes planning, procuring, handling, managing and enabling supply of goods and services. Supply chain managers are the purchasers and transportation planners. Careers in SCM are extremely diverse and the sector is continuously shifting, evolving and moving with changing technology & needs of people.
  • Finance
    Finance as an arena is concerned with the management and circulation of money. Role in finance varies from helping corporates and individuals make finance planning decisions to helping businesses raise capital for expansion and running business operations.
  • Operation Management
    Operations management is an intermix of business, finance and technology which is chiefly concerned with planning, organizing and supervising in production, manufacturing or the provision of services. This field is concerned with the physical or technical functions of a firm.
  • Human Resources
    Human resource management is all about management of employees within the organization and maximizing their performance. It involves designing the policies for the effective functioning of organization, managing compensation and benefits, training of employees, maintaining proper labor relations and evaluating employee performance.
  • Health Care Management
    Owing to the rapid growth in the health care sector, health care management is emerging to be one of the most rewarding career paths. A degree in management arms one to play a significant role in hospital management involving activities like ensuring hospitals operations, Efficient supervision in making them financially sound and independent and in creating a patient-centric organization.
  • Management Consulting
    Management consulting is to assist a client to obtain information and advice leading to a realistic and lasting solution of a problem. Consultants think, analyze, brainstorm, cajole and challenge good organizations to become even better by adopting innovative ideas.
  • Entrepreneurship
    A Management degree empowers an individual to embark on an entrepreneurial route. An entrepreneur looks to solve problems through innovative solutions and products. Given the present economic scenario in the country, entrepreneurship is an extremely challenging path. It is emerging as an extremely sought after career path.

How to Pursue a Career in Management

Stream Graduation After Graduation After Post Graduation
path 1
Clear Class XII in Any Stream Pursue Graduation in Any Discipline for 3-5 years Pursue PG Diploma in Management/ MBA for 2 years-
path 2
Clear Class XII in Science Stream Pursue B.Tech/BE for 4 years Pursue PG Diploma in Management/ MBA for 2 years-
path 3
Clear Class XII in Commerce StreamPursue Graduation in BBA/BMS/B.Com for 3 yearsPursue PG Diploma in Management/ MBA for 2 years-

Important Facts

Premier colleges have eligibility criteria of minimum 50% aggregate marks in Class XII.

Leading Institutes

Top Management Institutes in India
College Location Website
Indian Institute of Management - Ahmedabad Ahmedabad www.iimahd.ernet.in/
Indian School of Business -Hyderabad Hyderabad www.isb.edu
Indian Institute of Management - Bengaluru Bengaluru www.iimb.ac.in/
Indian Institute of Management - Kolkata Kolkata www.iimcal.ac.in
Indian Institute of Management - Lucknow Lucknow www.iiml.ac.in/
Xavier Labour Research Institute (XLRI) Jamshedpur www.xlri.ac.in/
Faculty of Management Studies - Delhi Delhi www.fms.edu/
S.P. Jain Institute of Management and Research (SPJIMR) Mumbai www.spjimr.org/
Indian Institute of Management - Indore Indore www.iimidr.ac.in
Indian Institute of Management - Kozhikode Kozhikode www.iimk.ac.in
TISS - Tata Institute of Social Sciences - Mumbai Mumbai www.admissions.tiss.edu/
Management Development Institute, Gurgaon (MDI) Gurgaon www.mdi.ac.in/
MICA - Mudra Institute of Communications Studies - Mumbai Ahmedabad www.mica.ac.in/
Apeejay School of Management, Delhi (ASM) Delhi www.apeejay.edu/asm/
WLC College India, Bangalore Bangalore, Karnataka www.wlcibusiness.in/
Narsee Monjee Institute of Management Studies - (NGA - SCE) Mumbai, Maharashtra www.distance.nmims.edu/
Top Management Institutes in the World
Institution Location Website
Northwest University USA www.northwestu.edu/home/
Harvard Business School USA www.hbs.edu/about/Pages/default.aspx
The Wharton School Pennsylvania www.wharton.upenn.edu/
INSEAD Singapore www.insead.edu/
Stanford University USA www.stanford.edu/admission/
London Business School UK www.london.edu/

Management Entrance Exams

Postgraduate
Institution Tentative Date Important Elements Website
CAT Aug-Sept Quantitative Aptitude; Verbal & Reading comprehension; Data Interpretation & Logical Reasoning www.iimcat.ac.in/per/g01/pub/756/ASM/WebPortal/1/index.html?756@@1@@1
GMAT/GRE – Anytime over the year Jan Verbal Reasoning, Quantitative Reasoning and Analytical Writing www.isb.edu/pgp/admissions/admission-calendar
XAT Aug-Nov Verbal and Logical Ability; Decision Making; Quantitative Ability & Data Interpretation; General Knowledge.  Also includes Essay Writing as a part of the test. www.xatonline.net.in/
SPJET Oct-Dec Quantitative Aptitude; Verbal & Reading comprehension; Data Interpretation & Logical Reasoning www.spjain.org/programs/postgraduate/gmba
TISS-NET Dec General Awareness, English Proficiency, Logical Reasoning www.admissions.tiss.edu/admissions/ma/programmes/
MICAT I MICAT II End of Sep– Nov (for MICAT I) Jan (for MICAT II) MICAT – Psychometric, Verbal Ability, Quantitative Ability, General Awareness, Divergent-convergent Reasoning, Descriptive www.mica.ac.in/postgraduate-programme/selection-process-and-timelines
AICET Aug– Dec Quantitative Ability, Communication Ability, Analytical Ability, General knowledge & Current affairs www.admissions.wlci.in/aicet-2016.html
NMAT July– Oct Language skills, Quantitative skills, Logical reasoning www.nmat.org.in/test-takers/dates-and-fees

Work Description

  • Define and shape business strategy and vision of the organization
  • Execute the define strategy and plan in coordination with organization members
  • Play a strategic role by extending professional advice, aimed at maximizing profitability for client or employer
  • Establish and carry out departmental or organizational goals, policies and procedures
  • Manage general activities related to making products and providing services
  • Consult other executives, staff and board members on operations
  • Define marketing strategies to attract the target audience
  • Negotiate or approve of contracts and agreements
  • Gather requirements from the customers and other stakeholders to prepare project report
  • Appoint departmental heads and managers
  • Establish performance standards and monitor the output of employees to ensure that each employee's performance meets those standards

Pros & Cons of a Career in Management

Pros
  • Remuneration is good.
  • You can create a niche for yourself in any one area
Cons
  • Work life balance is difficult to achieve
  • There is a lot of competition in this field
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