In today’s modern and continually upgrading business world, ‘Management’ is a practical subject which keeps you intact in corporate places. Students get a list of endless opportunities by choosing Management studies. Throughout the world, with the growing number of business entities – Management is leading as one of the career options.
Management- It is a subject which carries effective tactics for running any business with fun activities in between. With the thousands of career choices available to students, this field of management studies seems to be a fruitful one.
The students who plan to go for management studies during their under-graduation or post-graduation programs– are to be in profitable terms within both the parameters of investment and rate of return.
So, if you are in the list of those smart students, then, you will be glad to have this read- upon the right decision of choosing Management studies.
What is Management and why it is essential:
The word ‘Management’ is something we need to master on for all our day-to-day activities to be done correctly. From there, today, in this fast-pacing world, we need Management for each of the works in line.
Management is significant for any of the organisations present in our universal corporate dais. It helps every large or small scale organisation to achieve its set objectives on time, and also within the prior decided parameters of growth.
According to Harold Koontz,
“Management is an art of getting things done through and with the people in formally organised groups. It is an art of creating an environment in which people can perform and individuals and can co-operate towards attainment of group goals.”
Management studies are mainly focused upon some of the critical set of managing functions – As in planning, organising, staffing, directing, and controlling at last.
These functions act as a five-step model, for accessing upon all physical, human, financial or monetary and knowledgeable resources. These all are necessary for achieving the organisational purpose effectively.
Following this management, principles are essential in today’s modern business culture. Because these help the entities for a meeting of targets efficiently, generating futuristic client base, and being overall competitive in the practical approach to thrive in this rapidly changing market scenario.
Different Genres of Management Studies:
There are many offerings of degrees for the students enrolling in both the under-graduate and post-graduate programs worldwide.
Bachelor’s degree in management studies – are for those students who have just completed his or her higher secondary with suitable aggregates. It is mainly of two to four years of curriculum.
Master’s in Business Administration (MBA) or any other Master’s in management study portfolio – Itis one of the most demanded degrees offered to the students around the globe. It is for two-years in line.
But now, many US business schools and universities have started to offer one-year MBA in the area of business management or others.
Most of the students prefer to go for an MBA in the management spheres of study. A higher degree in this field of ‘Management’ lead the future pioneers of the world into large and prospective organisations.
Management studies have so much to offer to their prospective students. It has a list of exciting genres of the corporate world or learning areas to study as in:
- Business Management
This particular specialisation helps you learn the business and its workings at a broader perspective. It focuses on study areas like various products and services along with their respective markets. Then also about the customers, financing options available, business operations, communications, and information technology. It also makes the students aware of all legal policies of the business and strategising on various new deals.
- e-Commerce/ e-Business
The specialisation concentrates upon the digitalisation of markets and its offerings all over. It offers to learn about various online platforms available or would be present in the upcoming tech-savvy future market. It also makes students learn about the social parameters to hop on for greater coverage of online space. It also provides learning for cyber rules and regulations to keep in mind if one wants to thrive in the digital market.
It is another area of study in the management sphere which focuses upon the parameters for owing a start-up or new venture. It makes the budding entrepreneurs learn about the developing, organising and managing phases of a new business. You get to learn about the capital required, the risks involved, and other planning and mitigating of future deals and uncertainties.
- Global Management
This area offers to learn and specialise over managing businesses on an international basis. It overall includes the sales, marketing efforts, hiring of professionals, and training them and other financing practices. This is most preferred by students who have a mind upon managing multinational corporates and their dealings.
- Information System
This specialisation is most opted by students belongs to the area of Information and Communication Technology (ICT). It mainly focuses on sales and management solutions, enterprise resource planning (ERP), research and development, business intelligence, and other business solutions for systematic processes of the company.
- Strategy/ Risk Management
It is considered one of the most critical areas of management studies. As we all know, that any large or small scale business will have to prepare strategies for their prospective dealings and mitigate risks for smooth functioning of business workings. Students will learn a broader picture of four main risk management strategies which are – avoid risks, reducing it, transfer and accept it.
- Technology Management
This one is in high demand among the students from technological sphere of study. Businesses are getting more and more into the digitalisation mode so, they also need backups for managing the high-end services or products provided. This course area makes you learn integrated technology planning, design, operating of the same, optimisation in need and control of technological items.
These are specific majorly in-appeal specialisations among the graduate and undergraduate students. There are a lot many common areas that management studies offer to the interested students which are:
Accounting and finance management, economics and business taxation, human resource management, marketing and operations and many more to train out the money-making minds of our leaders present worldwide.
Excellent Management Courses in USA:
The USA offers you some of the highly demanded and out-of-the-box management courses which are chosen by students from the world over. They focus on some specified areas of different types of businesses. They are listed below:
- Project Management
- Chartered Management
- Leadership and Management
- Certified Managing Consultant
- Commissioning Course
- Internal Company Training Programmes
These courses are mostly on short-term certification basis or full-time one or two year’s curriculum wise. The above mentioned types of courses are made available or designed for students who don’t want to pursue regular courses. And also, they are exceptionally required in countries all over.
Admission requirements for these courses:
Now, after knowing about the courses, one needs to arrange the below-mentioned documents successfully. And also need to score well in some entrance examinations because these are must for students to get sorted prior in line for smooth admission procedures.
Some of the general university or business school entrance requirements are listed below:
- English Proficiency – TOEFL test required
Marks- On paper basis: 550-600 and computerised base: 213-250
- GMAT score- Top business school accepts students above 720 marks, and average rating can be in the range of 600-700
- A three or four-year Bachelor’s degree from an internationally equivalent business school or any US acclaimed Institution
- Work experience minimum of one to three years or more, as per your varied roles and responsibilities
- Admission Essay
- Two letters of recommendation from your professional space
- Personal written statement
For the students in any of either under-graduate or post-graduate degrees, it will be helpful for the students, if they start to prepare for GMAT or any entrance from the last of their continuing degree.
Because without scoring level higher than the average, it will be difficult for students to get into top-ranked B-Schools present all over the world.
Job security and career opportunities:
The curriculum of all the management studies is designed in such a way than it fosters the lucrative minds of students like you. Any of the above mentioned management degree courses have various developmental plans in line for each student.
These management degrees are prepared in kind for polishing student’s analytical skills, the way their minds functions while strategising upon deals.
They have brainstorming and idea generation phases, have interpersonal skill enhancement classes with problem-solving simulation activities to make better choices in their business later.
International tours are aligned for industrial visits for students; they are also taken to different business expositions held in countries nearby to participate and learn new perspectives of business.
So, let’s have your watch upon the available job roles, which students mostly choose after completing their high-end management studies:
- Banking and Finance Industrials
The students mostly go for these two industries as they have a high pay scale to offer. They can choose from the endless banking and finance opportunities available as in – Investment banking, portfolio manager, finance analyst, finance managers or executives and many more to go.
- Human Resource Manager
They are hired to meet all the staffing requirements of any present business entities. They are there for recruiting and selecting the right candidates for most suitable post and within the allotted time.
- Management Consultant
These are the people with excellent analytical, reasoning and problem-solving skills. They offer help to the corporates worldwide in terms of a problem solver or suggesting upon the improvised manner of business proceedings.
- New Generation Entrepreneurs
These are the students who choose to start their own thing with arrangements of investors, a mini start-up idea, technical backups, some crew members. Entrepreneurs are the ones who come up with exceptional ventures to rule out in the market.
- Product managing professionals
These are the professionals needed for meeting up the technical requirements of any products of the companies. This particular field is ruled by students from management and technological sphere of study.
- Venture Capitalist
The students with clarified and a higher level of money-making intelligence are made for this post. They provide capitalising advice many big brains of business world, that in which start-up they should invest. These professionals are very high in demand across the globe.
So, by now, it will be crystal clear to you about the amount of scope these management studies hold. It is one of the areas which will always be in trends. The job security levels are also high as you can quickly analyse, that all management professionals are high in demand with competitive pay scales in hand.
Management is a subject with more enormous scope and has varieties of other specialisations to offer for students like you. This is the reason why ‘Management’ is becoming more and more appealing these days.
These career options available after the completion of concerned management degree, it provides you with countless competitive job roles with well-defined roles and responsibilities.
The job roles present are incredibly lucrative, and students can also refine their business skills by choosing this particular sphere of study.
Management is a field of study which comes with endless opportunities to discover and monetise it later. So, do give it a thought while you are deciding upon your career prospects.
Velma Webstere has completed his MBA in International Business Management and Public Relations from the University of Pennsylvania, USA. He is currently working with a well-known American Finance firm, as an Investment Banker. He is into this management field, working and helping students of the same sphere for past eight years now.
Management studies have many subjects under its head, as mentioned above, each student requires time and patience to study the concepts, theories, various researches done. And for your help, Velma Webstere is here to make you understand through his way of teaching concepts with detailed drawn models, and further explanations. So, be free and try solving your doubts with him.