Management is defined as the skill of coordinating all the organizational resources, be it human, financial or material, in order to achieve organizational goals. A degree in business administration equips a person to perform this management function in the best possible way. So, for all those who are contemplating a career in business management and administration, given below are some useful tips, with regards to management education, as well as the job profile that you can expect in future.
Tips on Management Education
To make a career in this field, you will need a Master of Business Administration (MBA) degree from a recognized college or university. The degree provides education in all the major business administration and management fields. Here’s a list of subjects that you will study in a business school:
Marketing
Financial Management
Accounting
Human Resources Management
Statistics
Economics
You will learn about basic theories and principles of management as well. If you get into a good business school, there will be guest lectures by some high-profile professionals from the corporate world, which in itself is a great learning experience.
Solving case studies, giving presentations, participating in group assignments, working part-time in a company and doing internships, are some other things you can look forward to doing at a business school. Once you pass out of the school, you will have a complete knowledge of management process in business administration. A management school will also equip you in all the required management skills, the list of which is given below:
Planning
Organizing
Decision Making
Problem Solving
Communication
Hiring
Controlling
Customer Relationship Management Skills
Leadership
Team Building
Negotiation Skills
Tips on a Manager’s Job Profile
The role of a manager in business administration, depends on the kind of organization he is in. Initially, his job may be limited to his chosen field of specialization, i.e. he might be a manager in the marketing department or in the finance department. However, as he moves from junior management to mid-career level, he will be heading one of the departments in a company and performing functions of planning, organizing, staffing, directing and controlling, in his department.
Planning
Planning involves setting both short-term as well as long-term goals and arranging them in a logical sequence as to which one needs to be achieved first and so on. A manager needs to plan for what to do, how to do, when to do and by whom it should be done.
Organizing
This function mainly involves setting up a structure in the department or the organization. Setting responsibilities for each and every person or department, how they will correspond and work together, who will supervise whom, all fall under this management function.
Staffing
A manager needs to hire right people for any given job. So, he invites applications, interviews people and then hires them to work in the organization.
Directing
A manager motivates and leads his team so that they give their best to meet the organizational goals. A manager has to find the right balance between being sensitive to his staff needs, as well as getting the job done in time
Controlling
The manager assesses and keeps a check on the performance of his employees, so that the desired results can be achieved. There is a set “rewards and punishments” formula in every organization, which a manager follows to ensure maximum work output from his employees.
To perform the above functions, a manager needs to be creative, fair, sensitive to the needs of others, a good leader, motivator, problem-solver and a sound decision maker. When he reaches senior management, he will be required to overlook all the departments in the company. A person with a degree in business management and the required managerial skills, can become the CEO of a company.
An MBA degree will open a host of career opportunities for you in the corporate world. So, without waiting any further, start career planning today!