In the modern world, the growth in business enterprises has brought about a revolutionary change in economies across the globe. Majorly fuelled by technological intervention, this has led to a steep rise in the demand for management professionals, given their operational as well as strategic role in the functioning of any business venture. Every year students in large numbers flock to seek admission to top management schools in India and abroad as pursuing a degree in management opens doors to numerous rewarding career opportunities. The domain offers prospects for quick growth and job roles that involve consistent interactions with clients and various stakeholders which in return helps in the overall personality development of a candidate. Let us now have a look at top careers in management.
Management consultants perform a strategic role in an organization. They help companies to mitigate issues, devise strategies to maximise profit and improve business performance. Using diverse skillsets and a deeper understanding of the processes, they offer insights into the functioning of a business which in turn helps in making effective decisions. The primary job of a consultant is to give recommendations on utilising resources and implementation of ideas apart from playing a pivotal role in the structuring of an organisation. Carrying out research and ensuring smooth communication with various stakeholders are also a part of the job.
Project managers, as the name suggests, keep a track of assigned projects, and ensure that they are completed within the stipulated time. They delegate work to associates and set deadlines apart from identifying potential risks and acting upon them on a regular basis. Project managers channelise the team strength effectively to ensure smooth workflow and optimum results. The primary responsibilities of a project manager involve checking feasibility, working out budgets, allocating resources and drafting a procedure for each project. Timely delivery of projects is ensured by evaluating potential challenges beforehand and devising a strategy to tackle them as they arise.
Supply Chain Manager
A relatively lesser-known career, supply chain management is crucial for any company that is concerned with the manufacturing and distribution of goods. The job of a Supply chain manager is to oversee and manage every aspect of production flow right from procuring raw materials to delivering the finished product. It is the responsibility of a supply chain manager to ensure that the supply and demand are kept in check and production of goods happen at an optimum level while ensuring that all quality and safety standards are duly followed. The job involves liaising with stores and raw materials suppliers as well and thus requires strong negotiation skills.
Chartered Management Accountant
Holding an important position in an organisation, chartered management accountant has a diverse range of responsibilities. Having a sound knowledge of both management and finance, the professional is highly sought after when it comes to providing high-quality support on financial matters. The role of a chartered management accountant is to analyse the performance of a business and devise strategies to prevent risks apart from helping the company in adapting to changing scenarios. This is achieved by working out the reduction of operational and production costs. Drafting reports and formatting them in an easily comprehensible format is also a part of the job.
This role is a perfect starting point for those who enjoy evaluating and analysing information and coming up with effective solutions for problems. The job demands a strong knowledge of technology and an analytical mind. A business analyst works closely with various teams in an organisation, helping them manage and orient plans to meet the organisational goals. The role primarily involves evaluating the situation and identifying the next course of action. The insights provided by a business analyst are acted upon by various teams. Communicating with stakeholders on crucial issues and assisting other departments in making decisions are also central to this role.
Brand awareness has become increasingly important for companies to stay ahead in the market and a team of professionals led by a marketing manager are responsible for this. Be it expanding brand reach, promoting the company’s products or services, it is the role of a marketing manager to steer the team in achieving this. A marketing manager mostly oversees the various aspects of marketing and participates in tasks at a strategic level to ensure that the right content and communication goes out to the external stakeholders and customers. It is the marketing manager who determines the suitability of a campaign and which audience segment to target with which messaging to ensure that the brand is represented in the best possible way.
General and Operations Manager
General managers or operations managers, as the name suggests looks after a variety of tasks. Their duties include managing daily operations, strategies, and project management. The role of a general manager is to plan and execute strategies along with allocating resources for a specific project. Liaising with vendors and stakeholders, and looking out for opportunities for expansion and growth form important aspects of the role of a general manager. In other words, a general manager is an all-rounder who is responsible for the complete functioning of a unit or an organisation.
How to Start a Career in Management?
There are plenty of courses available to venture into the field of management but given the tough competition, you need to have an edge over other candidates. That can be achieved by having years of experience which, of course, is time-consuming. On the other hand, a smarter approach is to have an education that sets you apart from the crowd. While the commonly offered courses such as BBA, BCom or a Diploma in Management may give you enough knowledge to do well in academics or cater to entry-level jobs, the overall development, which is a strong credential in the current job market remains unachieved. To have this, students explore study abroad options to gain global exposure and practical oriented education, but that too gets stalled often either due to financial constraints or highly selective procedure of foreign universities.
Alternatively, the same global education can be pursued in India at a relatively low cost. Indian School of Business & Finance (ISBF), which is an affiliate centre of University of London and one of the featured institutions of London School of Economics (LSE) offers BSc (Hons) programmes in Economics, Management, Finance and Accounting. All these undergraduate programmes are taught on the academic directions of LSE, in a way that students at ISBF study the same curriculum as studied by their counterparts at LSE in London. They are also the full-fledged University of London students as they receive their degree from there only.
The institute offers two programmes in Management with unique subject combinations enabling students to cater to diverse job profiles. The BSc (Hons) Economics & Management and BSc (Hons) Business & Management both are taught through case studies and using a practical oriented approach which stands ISBF students in good stead. Over the years, students after studying these programmes at ISBF have received 2nd-year transfers to LSE, and on completion of their degree, they have either joined leading companies or have gone to pursue their master’s at prestigious universities abroad.