Management courses have been one of the most lucrative career options for people aiming high for quite some time now. It is projected as the ladder to achieve more and faster than other prospects. But the COVID-19 brought unforeseen challenges for professional careers while also changing the way we perceive the entire work culture. Against this backdrop of a changing world, how good is the scope of management?
Read on to find out.
Why an MBA is beneficial even in 2022
Post COVID-19 workspaces have changed drastically. Studies suggest that businesses are embracing automation at an accelerated rate because of the improved accuracy and compliance and shorter process cycles. In addition, outsourcing has helped tighten budgets by encouraging virtual workspaces, which have evolved from a necessity to a preference, and scattered teams. Even tech positions have not been exempted from such measures.
Management skills are among the few roles that cannot be easily altered. Managers who are at par with the changing work dynamics keep the extended workforce from falling apart.
An MBA from a renowned business school benefits you by aiding the development of enhanced and flexible management skills, helping achieve long term career success, and building proficiency to explore new industries or functions.
Scope of Management in the US
Keeping in mind its indispensability in the new normal, let us look at the overall scope of management. The scope of management can be divided into two categories for better understanding – activities & branches. Let us see what each of them stand for:
The most popular activities involved in management are usually planning, organizing, coordinating, directing, and controlling. These activities make up the daily work itinerary of most management-level professionals and come with immense responsibilities.
Following are the operational aspects or branches of management:
- Marketing & Sales Management
- Supply Chain Management
- Operations Management
- Personnel Management
- Financial Management
Overview Of A Management Career
Depending on the area of interest, people can choose a job profile from an array of sectors.
Marketing managers deal with a company’s market outreach concerning the desired market. Their primary job role is to implement services and deliver the product to the market.
Management Consultants help an enterprise or organization improve efficiency and enhance performance. They analyze existing problems and bottlenecks to chalk out the most effective solutions.
Investment bankers raise capital for a business or their recruiting company. They primarily deal with financial institutions in close quarters and are often recruited by governmental bodies and public institutions.
Business analysts analyze an organization’s growth and business needs. They then provide technical solutions to those concerns in the most cost-effective, digital way.
Financial advisors are responsible for advising businesses on all financial matters in various situations. They are the brains behind the financial growth of an organization and are equipped to tackle all kinds of organizational issues.
Administrative managers are responsible for ensuring a smooth-flowing business administration. They oversee the organizing, planning, and implementation of various workflow systems. They are also the ones who manage and supervise teams of staff.
Human Resource Managers
Human resource managers are responsible for recruiting and developing business-relevant employees and ensuring maximum retention of recruits.
Product managers develop and manage new products for a business.
Operations managers usually design the whole production process and control it. They are also responsible for redesigning operations in tandem with the production of goods and services.
IT managers are managers of the entire technological structure of a company. They are responsible for implementation and maintenance. Plus, IT managers handle technical processes and resolve errors and bugs in the digital framework.
The US is arguably the world’s largest open economy. Companies in the US are some of the biggest names worldwide, no matter what the field is. Favorable conditions such as ease of doing business and developed infrastructure are particularly conducive to running a business in the country, whether a start-up or a multinational. All these companies employ a considerable domestic and outsourced workforce and hence need a capable manager to oversee the activities and keep them running smoothly. So, there are ample opportunities for newly graduated managers to be employed by a US company. Paperwork in the US is also much simpler due to the lack of red-tapism around businesses, making it much more business-friendly.
When pursuing an MBA course, you should consider the employment rate after graduation, salary levels, and return on investment (ROI) of graduates. The US offers some of the world’s most generous remuneration to MBA graduates. An average MBA graduate gets paid a whopping USD 98,900 a year, much higher than most other countries.
How To Be A Successful Management Professional?
It is essential to get a management degree from an institution of repute to kick off your management career. For people looking for a career jump to managerial roles, upGrad offers a one-year global MBA program in partnership with Deakin Business School, one of the leading management schools in the world. This program helps a candidate develop a strong foundation in business development and communication, thereby developing enhanced decision-making skills. A candidate from this program is sure to leave with the best understanding of the latest industry trends and standards.
Designed especially for working professionals, upGrad’s courses are flexible and comprehensive. Top universities like Deakin Business School provide wonderful opportunities to experienced managers, management executives, and entrepreneurs in mid to senior career stages with at least three years of full-time relevant work experience in business roles. Flexibility also includes avoiding shifting to an entirely new environment or sitting through classes at fixed hours, which essentially means having to put your current job on hold. With upgrad’s distance learning, students receive one-on-one, 360-degree career assistance with support for resume development and mock interview conducted by specialized career coaches. Our courses provide personalized mentorship to students to resolve doubts quickly. Additionally, peer-level networking helps build contemporary knowledge of the competition.
It is safe to conclude that management courses are just as relevant in 2021 as they were ten years ago, and they will continue to be relevant in the coming years. Few career paths guarantee as much growth and stability as management positions do. The cherry on top – management leaders are sought after in every industry in the business world.
Keeping career prospects in mind, going through a management program can be exciting and immensely helpful in creating a contemporary leader who is on top of business trends and needs. A course such as upGrad’s will give you a leading edge in the eyes of recruiters and make a leader out of you.
We hope this article has helped clarify the scope of management for you. If you were earlier unsure about taking the leap, we hope it has helped push you more towards your goal. A management degree is just what you need to strengthen your resume and take your career aspirations to the next level. For someone wanting to shift to this field as a professional, upGrad’s program is most recommended to help you hone your skills and become a proficient manager.