MANAGEMENT
MANAGEMENT
Personnel Management
Finance Management
Marketing Management
Hospital Management
Rural Management
International Management
Forest Management
Tourism Management
Apparel
Merchandising and Marketing/Garment Manufacturing Technology (AMM/GMT)
Manufacturing Management
SALES
& MARKETING MANAGER
BRAND
MANAGER
BUSINESS
DEVELOPMENT MANAGER
BUSINESS
MANAGER
HUMAN
RESOURCES DEVELOPMENT
EXPORT
MANAGER
MARKET
RESEARCH EXECUTIVE
OPERATIONS
& LOGISTICS MANAGER
MANAGEMENT
CONSULTANT
TECHNOLOGY
MANAGER
OPERATIONS
RESEARCHER
We are witnessing
a corporate boom which has pushed up the demand for management professionals.
This has led to a growth of business schools as well as a variety of management
education programs. Though the number of business schools approved by the All
India Council for Technical Education (AICTE) has risen to over 400, we are
still faced with an increasing demand-supply gap. The applicants to seats ratio
is around 8:1 and the existing demand for professionals is much more than those
being trained.
Business
management encompasses a very wide occupational area. Moreover, the occupations
are not confined to one industry but exist in all sectors of the economy.
Management
activities relate to planning, organising, staffing, directing, and
controlling. Some of the major areas of
specialization are highlighted below :
Personnel Management implies
management of personnel. The larger the organisation, the greater its
necessity. It deals with functions like recruitment, training, placement,
promotion, transfer, daily problems like discipline, grievances, their
redressal etc. Placing the right person at the right place is the key function.
Finance Management is
responsible for financial policies, executing financial programmes and budgets, undertaking
transactional analysis and conducting profitability appraisal.
Marketing Management directs
the flow of goods and service from the
producer to the consumer or user with increased emphasis on the profit
objective. A good and relatively
inexpensive strategy is developed for the best satisfaction of the customer.
Hospital Management is
necessary for efficient functioning of a hospital .With technological advancement and a high degree of specialization, effective
management of a hospital requires a very methodical and systematic
approach.
Rural Management adopts
integrated approach to the agricultural set up . It takes under its purview, rural behaviour, environment,
production and procedure , marketing, managerial accounting and finance
, human resources etc.
International Management deals with
exports and import, foreign collaborations, transfers of technology etc.
Forest Management deals with
the scientific and technical aspects of
supervising production from planting of the crop through maintenance
and protection to marketing. It also
develops an approach to the preservation and development of the eco-system to
help maintain the ecological balance.
Tourism Management involves
the development of managerial talent which
would meet the full need and requirement of tourism and allied industries.
It deals with the principles,policies and practices of the tourism
industry, management of travel agencies
and tour operations, tourism marketing and specialised areas of tourism (eg.
adventure tourism, cultural tourism, rural tourism), public relations,
destination planning etc.
Apparel Merchandising and
Marketing/Garment Manufacturing Technology
(AMM/GMT) The AMM programme covers the
practical aspects of the fashion/apparel industry. The curriculum includes
subjects on buying, merchandising, retail operations, fashion coordination,
advertising and publicity, styling, fashion/colour forecasting, international
marketing etc.
The GMT
programme turns out production managers capable of managing all aspects of
apparel production, starting from the sample to the finished garment.
Manufacturing Management deals
with the scientific and technical aspects of supervising production from
planting of the crop through maintenance and protection to marketing. It also
develops an approach to the preservation and development of the eco-system to
help maintain the ecological balance.
The main function of the marketing
and sales personnel is to find what the customers want (or can be made to want)
and at what price; to relate the demand to the company's ability to produce it
and to deliver it to the point of sale and achieve a profit. As a sales or
marketing person, you will bring products and consumers together.
As a Sales Manager your main objective
is to motivate your staff to sell your company's products. A motivated staff
can get you the best results. One way to do this is to fix realistic sales
targets for your staff and decide on the incentives on the completion of the
target. Training is another way of ensuring that the sales team is in the know
of the latest in the field.
A sales job is physically
strenuous. Even at the managerial level you will have to identify and contact
distributors and retailers to stock your product. Good communication skills
will prove beneficial when you have to convince these people to stock your
product and even motivate them to push your product over the competitor's.
Of course, just talking won't do.
You also have to reward the shopkeeper with incentives and promotional
materials. At all times you have to maintain uninterrupted contact with your
stockists, vendors, or distributors.
It will be your job to book the
goods and ensure correct deliveries. The job also involves merchandising, which
primarily means helping retailers to maximise sales through promotion
campaigns, displays or through other new techniques.
In the filed of sales you can
specialise in consumer goods sales, technical or industrial sales or export
sales. If you choose consumer goods sales you will mainly deal with retailers,
distributors and wholesale dealers of the company's products. Industrial sales
involve a lot of interaction with technical people. It is much more than just
selling ready-made products. Sometimes you even have to design a product
according to the specifications of the client.
If you love travelling (who
doesn't) you would love your job as an Export Sales Manager. Here you can
indulge in your quest to see the world (that too at the office expense).
For this job you need to have a
deep understanding of the cultural, social and economic set up of other
countries. You also have to know the export and import procedures of different
countries as the back of your hand.
Requirements
If you want your entry in to the
field of Sales and Marketing to have some impact you got to an MBA, with
specialisation in Marketing and Sales Management. Graduation with Economics or
Commerce with an additional short-term or part-time course in marketing could
be your next choice.
Sales can be a good entry point for
marketing; and from marketing you could move on to a career in general
management.
Half your anxieties of a good
career in Sales and Marketing will vanish if you gain an entry to The Indian
Institutes of Management (IIM), an autonomous institution set up by the
government, which is rated as premier business school. There are also
industrial and commercial organisations that conduct one-year diploma
programmes for training individuals for junior managerial positions. Alternatively,
you can pursue correspondence or distance education in management or take up
short-term certificate courses in Sales and Marketing.
On the personal front you need to be have a keen business sense. Good
vocabulary comes next. Confidence, intuition to sense prospective clients,
outgoing personality and adaptability to different conditions are some other
attributes needed to make it big in this profession.
Job Opportunities
There are numerous openings for you
in the marketing and sales departments of any industry, public or private
sector unit, multi-national company or an export firm. If you are looking at
Sales as a stepping stone towards a career in marketing, then your best bet is
to start at a smaller firm. Career mobility is fastest here.
Sales and
Marketing professionals can find jobs in almost all industries. A few of them
are listed here:
Money & Other Benefits
Sales and Marketing is one of the highest paid jobs in
any organisation. The salaries in this field actually depend on the size of the
company you work for and your educational qualifications.
As a trainee with just a graduation in any field you
can take home Rs 6,000-7,000. Of course there are performance-based incentives
to earn.
Add an MBA degree to that and you could be the owner
of a cool Rs 10,000-12,000 a month. If you stick around for 4-5 years it could
rise to Rs 20,000 or more.
Career Prospects
Sales and Marketing holds out a
promise for both personal and professional growth for those desirous of taking
it as a career option. Armed with a few years of experience in marketing you
can always jump to consultancy or social marketing.
Many start up ventures employ
marketing consultants to plan marketing strategies. Consultants actually test
the waters in terms of researching the demand, fixing a price to scouting for
prospective distributors and vendors much before the launch of the product. All
you need is loads of contacts and considerable experience in marketing and
sales.
Brand Manager
Brand marketing is all about
bringing ideas alive. It is like running your own small business, but with the
resources of a large firm. You will have a budget from which you will decide
how much to spend on packaging, advertising, market research, promotions, etc.
You are not responsible for sales,
but for enticing the consumer with the product. You will assess the strengths
and weaknesses of your brand. You will then see how your brand compares and
differs to that of your competitors.
You will devise plans to further
the recognition and growth of your brand. You will then make sure that the
words are converted into actions. Short-term actions might include altering incentive
programmes and changing advertising themes.
Over the longer term, you might
recommend changes in areas such as product design and quality to enhance a
vehicle's brand value. At all times, you have to keep in mind company profits
and customer satisfaction.
You will also ensure that the
various products of the company do not cut into each others' market share. As a
Brand Manager, you will control every aspect of how consumers perceive their
brands.
Corporate brand management is an
extension of this field. This is not restricted to just the logo or stationery.
It focuses on defining and communicating what the company as a whole stands
for, which includes the promise of a fruitful long-term relationship with the
company.
This also includes articulating the
company's values to promising standards for service, warranty and quality.
Corporate brand management is a major part of a company's overall strategy.
Requirements
You should have leadership skills and
be able to work effectively with others. You should take initiative and the
ability to motivate your team. Basically, you will be hired to solve problems
creatively. You need to have problem solving and analytical thinking abilities.
To be good, you need a combination
of creativity and analytical skills. Also, understanding how to evaluate sales
trends and determine basic financial measures like profit margins is important.
The ability to work on projects with numerous different people is important.
You need to be insightful, creative
and enthusiastic with a keen understanding of emerging business models and
pricing. Strong written and verbal communication ability will see you through.
An MBA with specialisation in
marketing is a good starting point. You could also blossom into Brand
Management through the Public Relations or Human Resources Development arms.
Job Opportunities
Previously companies were moving
senior managers into Brand Management slots. The emphasis was on experience.
But nowadays companies are developing more comprehensive approaches and Brand
Management is fast becoming as niche a department as Finance or Operations.
Big corporations have had Brand
Managers for quite some time now. It is the medium sized industries that are
now waking up this requirement and it is here that the maximum opportunity
lies.
Money & Other Benefits
You usually start off in the usual
management bracket of around 2,40,000 p.a. A senior level Brand Manager usually
gets around Rs 4,00,000-8,00,000 p.a. Not bad at all! But the biggest
satisfaction remains that your work is out there for all to see. Your name will
be well known and your reputation will travel far and wide.
Career Prospects
Increasingly, the brand is becoming
the key source of differentiation that guides customer purchase choice. The
brand embodies the 'heart and soul' of an organisation. Few companies have CEOs
with the broad cross-functional and general management skills that total brand
management requires.
The gap in brand management skills
is these days being considered the biggest obstacle to growth. But it can also
be a high-pressure situation as you might be juggling with million dollar
brands.
Business Development Manager
This is an action-oriented role for
go-getters who know how to track business leads, articulate the benefits of
products and services and develop a process for driving sales. As a Business
Development Manager (BDM) you will build partnerships and business
relationships with other companies, vendors, etc. to add value to your product
and services.
When anything goes wrong with development, the buck will stop at you. When all
goes well, you get the kudos. You will also assist in seeking new clients and
then executing their projects.
The main job of a BDM is to generate and follow up business leads, develop
clientele and develop intelligent business proposals. Developing a good
marketing plan for the company's products and businesses is also a part of the
job. You will also have to look out for new business for your company.
You will work closely with Product Managers, Marketing Executives and external
partners and allies in the development and i mplementation of strategies, plans
and business models.
In some organisations a BDM is also expected to create financial projections
for growth and profitability. You will be required to provide support to upper
management in deal negotiations, contract development and other business
development or alliance development projects.
As a BDM you will be working with the marketing department to plan marketing
and promotion, including advertising, review media, specials sales and
subsidiary rights.
Requirements
As a Business Development Manager
you will be presenting the vision of the company to key business leaders at
meetings and conferences. Superior communication skills will be vital when
representing your company. You must be a creative thinker who can respond
rapidly to changing scenarios and recognise effective counter measures to
competitor programmes. Strong experience in marketing and sales will be
beneficial. Remember, the BDM is also responsible for generating new business.
According to Alok Bansal, Business Development Manager, Design Expo, you have
to be well informed about the market as well as new developments in the industry.
Knowledge of finance also helps. Before entering into BD it helps if you have
worked in project management or operations for few years, adds Alok.
As a BDM you will meet with different kinds of people from different cu ltures
and backgrounds. It's important that you mix up with all kinds of people. Also
you need to be able to gauge people - their strengths and attitudes. And if you
can't listen patiently to a client, you can't be a good BDM.
This field calls for an outgoing
personality. If meeting people and getting to know them is not your forte you
are in a wrong place. You also need a good insight into human behaviour and an
entrepreneurial flair.
To become a BDM you need to have done your engineering or MBA. A Bachelor
degree in Business can get you an entry-level job, but to get a high profile
job, you got to be an MBA.
Job Opportunities
As long there are companies there
will be opportunities for a BDM. You could find yourself a rewarding career in:
* Software companies
* Consulting companies
* Engineering companies
* Management consulting companies
Money & Other Benefits
Salaries for BDM depends on the
sector you choose to work in. For a starter in a software earnings may range
from Rs 15000-40000. With 2-3 years of experience your salary can jump to Rs
25000-80000.
Your pay packet will also depend on your qualification. For instance, an
engineering degree coupled with an MBA from a good institute will increase your
earning power in the field.
Career Prospects
Business Development Managers have never been in
higher demand than they are now. As long as corporates feel the need to have
someone to represent their company and bring in more revenue, options will
continue to flourish for those who make the grade.
Business Development Managers with higher levels of education will have the
edge over less educated competitors. Computer skills are beginning to play
important roles. Basic computer knowledge and experience is going to come handy
when making those Power Point presentations and planning client meetings.
Laptops are now as common as briefcases because they allow BDMs to interface
with their client's mainframes.
Business Manager
When you say Business Management
only one thing comes to mind. Money and lots of it. The entry of multinationals
has forced corporates to become more streamlined and professional.
Management no longer means
supervising a factory or a showroom. It has risen way above and created for
itself not just a new definition, but varied dimensions too. It can now be
defined as the process of getting things done through and with people in
formally organised groups.
The aim of a manager is to maximise
profitability and optimise the utility of available resources. That's the basic
job of managers. They are team leaders who need to constantly feed their
subordinates with enthusiasm. Besides ensuring smooth operations in the
organisation a manager's major job is also communication.
There are five core tasks that a
manager has to perform. These include planning, organising, staffing,
implementing and controlling. Directing and co-ordinating with people is at the
center of a manager's activity.
The areas of operations can be
broadly classified as:
Personnel/Human Resources
Management: You will deal with recruitment, training, placement,
promotion, etc. Problems like labour, discipline, dismissals, etc. would also
be your headache.
Finance Management: You will
budget the plans, execute them, make financial analysis and come up with
profitability figures. You will be responsible for the financial health of the
organisation.
Production/Operations
Management: You will plan the nitty-gritty of the operation of the
firm and control and co-ordinate the entire show. You will look after product
research, development and design; and procurement. You'll also handle
inspection, quality control, cost analysis and control and preparation of work
standards. It is your responsibility to organise, co-ordinate and supervise
optimum utilisation of men, money and materials.
Marketing Management: You will
take the goods and services to the end user, with increased emphasis on the
profit factor. You will come up with new strategies to sell your goods and
services efficiently and inexpensively to the end user. Keeping up with the
needs of the customer, subsequent development of products and services
according to the needs, distribution and collection and analysis of customer
feedback will form a part of your job profile.
Sales: It's a part
of Marketing Management. This is the end of the line. It's your job to get
money from the customer. The job of the sales team is to achieve the sales
target set by the marketing team.
Sales also deals with effective distribution of the product/service that has
been developed by the marketing team. The marketing team decides as to how much
volume of a product can be sold in the market.
IT: This is
imperative in today's organisations as they are depending on Information
Technology to run as a backbone of all the operations. So here, your job will
be managing information systems, i.e., the hardware, software, and various
applications of IT.
The areas may vary slightly,
depending on the organisational setup, overlapping in some and being further
subdivided in others. The increasing complexity, diversity and expansion of
management activity has opened newer areas such as:
International Management: this
deals with all areas of international trade and business including aspects like
foreign collaboration, technology transfer and international management
strategy.
Technology Management: Managing
the policy, financing and marketing of technology is a specialised task for the
Technology Manager.
Hotel/Hospital Management: This covers
all aspects of running hospitals and hotels efficiently.
Resource and Environmental
Management: this involves resource planning and studying the
effects of business and industry on the natural environment.
Rural Management: this deals
with areas like rural marketing, rural behaviour, etc.
Requirements
A very high Intelligence Quotient
is a basic requirement for an aspirant in the management stream. Apart from
that you also need:
You also need good insight into
human behaviour and entrepreneurial flair. You need at least an MBA or
equivalent degree or diploma to get a good job. A Bachelor degree in Business
can get you an entry-level job, but to get a high profile job, you have to have
an MBA or equivalent degree or diploma. If you have Fellowship in Management
(equivalent to Ph.D), you can get a teaching/consultancy job.
For postgraduate management
studies, the minimum requirement is an undergraduate degree. The lower cut-off
is usually around 50 per cent, though it may vary slightly from institution to
institution. Some part-time and correspondence courses insist on work
experience of at least two years.
Generally, most business schools
follow a standard selection pattern. There is a written examination called the
Common Admission Test (CAT), which is held for premier institutions. Other
institutions hold their own entrance examination.
The test, an objective type format
is aimed at assessing the verbal abilities, capabilities for problem solving,
comprehension and data interpretation. This is followed by a group discussion
and interview. Other factors such as past academic records and extra curricular
activities are also taken into consideration while shortlisting the candidates.
Job Opportunities
It's a known and well publicised
fact that the scope for management graduates is a virtual goldmine. You can
join any industrial houses, manufacturing companies, corporations, marketing
organisations, financial concerns, trading companies, banks, public sector
enterprises, multinational corporations or any non-governmental organisations.
You could also work for
international bodies like the World Bank and the United Nations. You will
required by any organisation. You can also get lucrative opportunities in
consultancy organisations.
Money & Other Benefits
Starting salaries depend on the
size and status of the organisation you work with, your qualifications and the
institute you passed from.
An MBA from a top business school
gets about Rs 2,40,000-40,00,000 or more p.a in the beginning. The higher ones
are actually paid in dollars!
A middle manager may earn Rs
2,40,000-5,00,000 or more p.a. In dollars, you can earn about US$ 6,000-8,000
per month.
As a top manager, you can earn Rs
6,00,000-14,00,000 or more p.a. But this is possible only if you are
exceptionally good. Otherwise, reaching top management positions may take
around 12-15 years. In some cases it may even take 25 years!
Teaching faculty positions in
management institutions offers less salaries in the range of about Rs
10,000-13,000 per month in the beginning. A senior professor can take home Rs
25,000-30,000 a month.
Career Prospects
Among the various branches in
Management, Finance and Marketing offers the best career opportunities. HRD is
also becoming a lucrative option. Information/Technology Management is also
catching on.
Besides these areas such as
Corporate Finance, Financial Services, Capital Market Operations, Merchant
Banking Operations, Equity Research and Analysis offer top dollars.
Fresh MBA graduates are usually
recruited on-campus. You will join in as Junior or Assistant Managers or
Executives. You will be responsible for ensuring the smooth workflow and
sorting out minor difficulties. At the middle managerial level you will
co-ordinate and implement company policies.
With enough experience you could
grow to senior managerial levels, like Vice President or Director. Here you are
expected to motivate and lead. You will have to give vision and direction to
the organisation.
Some management professionals set
up consultancy services covering a wide scale of activities including analysis
of management practices; feasibility studies for new ventures; providing
technological expertise; recruitment services; drawing up plans for operations;
planning marketing strategy and so on.
Human Resources Development
Now how about giving you some
useful information about Human Resource Development (HRD) that would make it
worthwhile for you to wait as long as this page takes to load? Is your
perception of a HR executive restricted to grilling prospective employees and
handing out salary cheques? Then read on.
Of course, the most important and immediate task of HRD is that of a
matchmaker. No, not the matrimonial kind, but to match the right job with the
best candidate. He/she nurtures the work force to make sure that the best staff
never leaves the organisation.
Human Resource is increasingly
making an appearance in the balance sheets of companies. In fact HR is now
termed as human capital so much so that in finding the true value of a company,
the value of human capital is crucial.
In the past a personnel manager
handled everything from recruiting, selecting, inducting, training,
compensating, maintaining and helping people retire in a company.
However, it didn't take too long to
realise that to survive and stay ahead, the most important asset for a company
is the staff. And so it was considered imperative to convince them about the
company's strategies and so on. Enter the modern Human Resources Manager.
Your Main Areas Of Work
* Not just recruiting anybody but
actually head-hunting for the best talent to work for the company
* Motivating and guiding the right
people to join the company
* Cultivating a positive attitude
among the selected employees
* Carving a career growth path for
the employees
* Training and developing them to
take on more and more responsibilities
* Deciding the right
compensation/remuneration package so as to motivate the employees to perform
better
* Building a sound working
environment and work culture
* Building an attractive
performance appraisal system with incentives
* Developing appropriate strategies
and policies for separating non-performing and aged people (who are due to
retire) from the company
Requirements
* A keen interest in meeting
various types of people, communicating with them - basically understanding
human psychology
* Caring and understanding
* Good communication skills and
listening abilities
* Good reasoning skills
* High leadership abilities
* Willingness to take initiatives
and an enterprising nature
* Good organising ability
* Extrovert nature
* Good foresight (ability to peek into
the future)
* Hard working
That's as far as the personal
qualities are concerned. Now let's see the academic route to a career in HRD.
* Your best entry route into the
career is through a MBA or an equivalent PGDM/PGDBM with a specialisation in
HRD
* M.A in Personnel Management/MBA
with specialisation in Personnel Management or Personnel Management &
Industrial Relations
* Post graduate diploma in HRD
* M.A in HRD
* Post graduate diploma in
Personnel Management & Industrial Relations
* Master of Human Resources
Development or any other related course
Upgrading your HR skills and
following the happenings and trends in the industry on a continuous basis is
required to sustain in this filed. This is a must as the interest and
aspirations of people change with the socio-economic situations.
Job Opportunities
* Industries in both the public and
private sector-in the companies run by the government and private management
* Hotels, travel and tourism firms,
financial services organisations and other service sector organisations.
* HRD consulting organisations and
recruiting consultants
* Management consultant
organisations
* Non-governmental organisations
(NGO)
* University departments and
management institutions as faculty members
Money & Other Benefits
A degree from one of the top 10
business schools of India could be your ticket to greater things in life. And
we are talking of foreign posting with a salary of US$ 5,000-7,000 a month. Now
just multiply that with 45 to get the Indian figure!
Jobs in Information Technology,
Telecommunication, Retail Banking, etc., are the highest paid. Entry level jobs
pay Rs 8,000-30,000 a month or even more. With 4-5 years of experience it could
rise to Rs 12,000-50,000 or more a month. At the top level, a HR professional
earns the same as a Marketing professional: Rs 9,00,000-20,00,000 p.a or more.
You can be employed as the CEO of a company at Rs 50,00,000 p.a.
Career Prospects
Prospects for today's HRD
professionals are a swell. With the growth in Information Technology,
Healthcare, Financial Service, Telecommunication, etc., the demand for HRD
professionals is increasing by the hour.
Actually the trend was a trifle
late to reach the Indian shores. In the US, in 1992, as many as 45 per cent MBA
students opted for a specialisation in HRD, beating Finance.
However, if the number of Indian
management institutions offering specialisation in the field of HR is any
indication, the trend is fast catching on here.
Export Manager
Export is one of the most
profitable business activities in the world today. In India export trade has
gained a significant place in the economy. The government gives various
incentives to exporters who earn valuable foreign exchange for the country by
importing modern technology, fuel and other essential inputs.
Export managers deal in all kinds
of goods and commodities like garments, leather accessories and garments,
textile, handicrafts, pharmaceuticals, handicrafts, bulk drugs and chemicals,
rice, wheat, edible oil, engineering goods, etc.
Their task includes:
* Research and tracking of needs for products which could be exported from the
home country to foreign countries
* Identification of markets
(country/region) for export of goods and commodities
* Merchandising and marketing of
goods in foreign markets
* Identification of buyers in
foreign markets
* Dealing and negotiating with
foreign buyers
* Executing trade contracts with
foreign buyers
* Procurement/production of goods
and commodities
* Planning of the logistics of
delivery of goods and commodities to foreign markets
* Dealing and negotiating with
various parties involved in foreign trade like C & F agents, freight
forwarding and customs clearing agents, shipping agents, multi-model transport
agents, excise and customs authorities and port authorities
* Fulfilling the documentation
necessary for export of goods and commodities
* Monitoring trade contracts and
expediting payments for goods and commodities that are exported to foreign
countries
Other functions in the organisation
like finance, production, human resources development, and systems are
generally taken care of professionals trained and experienced in these areas.
Export managers are needed mainly
for two broad specific functions: Marketing and Export documentation and procedures.
International marketing is
different from domestic marketing as the factors are vastly diverse. The
markets are largely governed by factors unknown in domestic markets. The
culture, socio-economic situation and consumer lifestyles are different. That
is why an international marketing manager has to have a different training than
that of a domestic marketing manager.
Export documentation and procedures
are again very complicated and has to be followed under Indian Law and
International Law. As the name suggests this area of export deals with vast
documentation and a strict procedure has to be followed before goods are
allowed to be exported out of the country and allowed into foreign countries.
So, these activities call for specially trained people.
The export trade also has
scope for the following professionals:
Custom Agents - They act as mediators between
exporters and custom services. They filing appropriate documents and act as
intermediaries with government departments.
Exim Consultants/Agents - They are
consultants working for clients. Their task includes coordinating between
import-export firms and foreign and domestic buyers and sellers, planning the
delivery of goods, evaluation of taxes in relation to import and export,
completing custom formalities and acting as trade representatives of
importer/exporter while the freight handling is done.
They also identify market for export of goods, identify buyers in foreign
country, act as agents of foreign companies and identify importer of goods in
India. They help to make a deal between buyers and sellers.
Freight forwarding and customs clearing agents - They plan and
implement logistics of international trade, handle procedural and documentation
requirements, and coordinate between the clients (who wants to import or export
goods, in other words, involved in international trade) and the various parties
and agencies involved in the process.
They also consult clients on the
intricacies of international trade like risk management, payment obligations,
valuation of goods for custom and excise duties, and so on.
Requirements
The best
way to enter this line of international business is to go for a postgraduate
degree/diploma in Export Management/International Business/International
Business Administration from a recognised university or institute or Indian
institute of Foreign Trade (IIFT).
There are
many diploma courses offered by privately run institutes. These diplomas are
helpful no doubt, but these are not enough to jumpstart your career. On the other
hand if you opt for these diploma courses after gaining 2-3 years of experience
after graduation you can expect to get a good break in the industry.
Many export
firms take fresh commerce graduates in the Documentation Department. This may
not fetch a handsome salary but the experience can be very enriching. Many
export firms prefer MBAs or equivalent diploma holders in the marketing
department. Such persons can do well if they also obtain a diploma in export
management/documentation.
For entry
into PG Diploma courses in International Business in reputed universities,
institutes and IIFT, a student should obtain at test 45-50 per cent in
graduation examination under 10+2+3 system (IIFT needs at least 50 per cent
marks).
Candidates
with managerial skills and aptitudes such as excellent communication skills,
leadership abilities, very strong analytical and logical skills, above average
interpersonal skills, creativity and innovativeness; an outspoken, extrovert
personality, a dynamic go getters with lots of initiatives should do well.
The ability
to analyse quickly, make purchase decisions and evaluate products before
shipment needs alertness at all times. Ability to work with a team and good command
over spoken and written language is a must. Working knowledge of a foreign
language will be an asset. They must be updated on international law, finance,
production information etc. General awareness of the international marketing
scenario and awareness of socio-cultural trends will be an added advantage.
Job Opportunities
You can get
a job in:
* Companies
involved in international trade/export
* Export
oriented Companies (EOU)
*
International business/trade/export department of companies across various
sectors of the industry.
* Shipping
agencies, marine insurance companies
* Freight
forwarding and customs clearing agencies
* Ministry
of commerce, Govt. of India
* Firms
involved in international marketing and research
*
International trade development organisations (independent organisations as
well as those under govt. of various countries
* Export
promotion councils of govt. of India
*
Multi-model transport agencies
*Faculty in
institutions teaching international business/trade/export management
*
International trade consultants
* Banks
*
International cargo carriers (Shipping companies, airlines, cargo and courier
companies
* Export
processing zones
Money & Other Benefits
As a
management trainee you will get between Rs 8,000-25,000 or more a month. Plain
graduates start at Rs 4,000-5,000 a month. Junior managers make between Rs
12,000-30,000 or more a month, while senior managers take home Rs 50,000 or
month a month.
There are
opportunities to set up own export firm also. After some initial hiccups, an
entrepreneur may earn crores, all tax tree! After 10-12 years experience in
export business, many turn consultants. Consultants also earn very handsomely,
anything between Rs 50,000-10 lakhs a month. Overall, this career is highly
prospective and opportunities will increase in the first part of next century.
Career Prospects
Companies are now increasingly
looking for greener pastures outside India to expand and survive. This is the
trend all over the world. With communication becoming instantaneous via
computers business is going global today.
This scenario has propelled the
demand for professional managers trained in export and international business.
And right now availability of trained managers in international business is not
enough to meet the demand for them.
The field offers tremendous
opportunities. Moreover the government is seriously concerned with promotion of
exports of goods and services from India. The aim is to achieve an export
growth rate of 30 per cent a year. Constant effort is also being made by the
financial agencies to provide finance and identify new markets in the world.
Export infrastructure is also very good in India.
The change in the economic
scenario in our country has rendered foreign trade as a lucrative profession.
India has developed for herself an extensive export promotion system and
several promotion bodies and export related services have been set up. The
country's exports have been rising substantially during the last few years.
This has been the thrust of our economic policies. With scene pointing towards
improvement and development every day, foreign trade as a recognised profession
has come of age.
Market Research Executive
Business is not run on the basis of
gut instincts (at least not genuine ones!).You need to base your decision on
hard facts. This is the basis of market research. Your job thus includes
sourcing information, analysing it and presenting it as per the client's
requirements. The best part of the job, however, is that everyday you start off
afresh, facing new problems, new challenges, new products, new brands, new
markets.
For instance, a leading
manufacturer of automobiles wants to forecast demand for passenger cars in a
specific price range over a particular period of time. You will generate data,
which will help decide the policies of the company. Maybe a crockery
manufacturer is planning to set up a factory. You will find out the price that
is most comfortable for the consumer. Thus your findings will decide the
feasibility of the project.
Then there might be seemingly inconsequential things like determining reader
profiles of publications and even finding out if a particular brand of
chocolate tastes well or not. But mind you, these small bits of information
pack a mighty punch in the overall decision regarding a product.
You will start off in this industry
as a Research Executive, wherein you will be doing a lot of legwork. You will
be co-ordinating with clients, the data collection department and the data
processing department. You will design questionnaires, analyse plans, interpret
data tables and submit your findings.
As you grow, in around a couple of
years time, you will head a mini group of two or three researchers and your
responsibilities will be more. You will also be required to bring in business.
In around five to six years, your
team would have grown to around six to eight researchers and you may have 2-3
Project Directors reporting to you. Your responsibilities at this stage would
include business generation, ensuring high levels of client satisfaction,
training and guiding young researchers working under you.
As a Senior Vice President and
Executive Director, one heads a team of 20-25 researchers. The job involves
office administration, revenue generation, maintaining high levels of client
satisfaction, identifying new avenues of business growth, as well as training
and motivating people.
This job is not a cakewalk. All
projects are deadline based. So say good bye to weekends and sometimes even
Sundays and other holidays. Now quite a few of you may feel that it is a boring
job and there is not much potential for growth. Nothing can be farther from the
truth. The sheer variety of the job provides enough motivation to keep one going.
It is also a tremendous place for understanding the key fundamentals on which a
sound business is run.
Requirements
"The kind of people who
succeed in this business are those who are the curious kind, wanting to know why
something is happening the way it is and not taking the obvious as the
answer." says Nikhil Rawal, Executive Director - IMRB, one of the top
market research companies in India.
An MMS/MBA/PGDBM or Masters in
Statistics, Economics, Sociology from a reputed university/institute is a good
starting point.
Other attributes include:
Job Opportunities
The biggest employer remains Market
Research agencies. Here you will have the chance to work on research projects
on a variety of industries.
Large FMCG (Fast Moving Consumer
Goods) companies like Hindustan Lever and other companies in the consumer and
industrial sectors also employ executives for market research in their
marketing departments.
Many opportunities also exist in
industries like the automotive companies and even service sector like banks,
etc. You can even get a job with advertising agencies. Here your research will
help determine target audiences and their likes and dislikes. This comes in
handy when creating advertisements.
Money & Other Benefits
A fresh recruit earns Rs 2,40,000
per annum. Perks like a house and car come in after about 5-7 years depending
on the performance of the individual.
Mind you, if you are taking up MR
as a career just for the money then forget about it! Financial growth remains
higher in other fields and chances are that you might get frustrated.
Career Prospects
Due to its very basic nature, the
industry is here to stay. Specifically industries like the food-processing
industry have been a boon for the Market Research industry. Commodity items
like rice, flour and pulses have changed to being 'branded' as all the major world
players have aggressively targeted India. Profiling the urban consumer
therefore has becoming very important.
India is a tough market research
proposition with its immense population and so experience in India is well
appreciated internationally. You could even be a team leader on foreign
projects.
Operations & Logistics Manager
The operations team creates the
infrastructure of a company. You will help determine where an organisation should
be based, its employment policies, accounting practices, distribution channels
and much more. While individual departments determine how corporate procedures
are implemented, Operations Managers make sure that they are designed
optimally.
Let's look at an e-commerce
company, for example. When a consumer logs to place an order, he/she expects
certain things to happen. First, the order process should be short and simple.
The consumer's credit card must be billed properly and the product shipped. A
few days later the product will arrive as expected. But how does the product
get from the warehouse to the consumer's door? Who decides how an order will be
routed through a company? Such decisions are made by the Operations Department.
The Chief Operations Officer is a
senior member in most organisations. The COO works with the CEO and company
president to determine the company's vision. Their ideas filter down to the
rest of the company.
Senior Operations Managers
determine the location of the, its facilities, which vendors to use, and how
the hiring policy will be implemented. Once the key decisions are made,
lower-level operations personnel carry them out.
Accountants and controllers watch
the books. Administrators and managers supervise line employees. Sales
representataives and customer service agents ensure that the clients get what
they've paid for. In case of a problem operations personnel will be the first
to hear about it. They work to find a solution and then set about fixing the
problem.
While operations is a key component
of any successful company, it is a back-end work. Most support functions fall
under operations' control. Such functions include customer service, logistics,
production, maintenance and administration. Sometimes, depending on the size
and scope of an organisation, operations will also include sales, accounting,
programming and marketing. The goal of the operations department is to find
solutions to problems before they affect the bottom line.
Anyone considering a career in operations should be able to see the big
picture. Since problems often show up in the most unexpected places, you need
to see beyond your current task. Most operations departments are team
environments. There are many employees engaged in the same tasks. Daily meetings
may be required to set up group goals and assignments.
Operations personnel should also be
highly analytical, detail oriented and able to work with different people
throughout the organisation. Remember, this is support work. You should be
prepared to serve the needs of the rest of the organisation.
There are various areas, in which
one can specialise within purview of Operations Management. These are:
Estate & Support Manager
- design the physical environment of the organisation. He is
interested in how a building's design, layout, furniture and other equipment
affect the efficiency and profitability of the business.
He will buy office furniture and
supplies, determine when more space is needed, select appropriate vendors and
be responsible for the facilities budget. Besides having a business management
background, the facilities coordinator needs to have a keen understanding of
how working environments affect employee productivity.
Logistics Management - An
organisation needs to plan how work orders will be distributed. The Logistics
Engineer is the person responsible for such planning. He or she is interested
in improving the efficiency and accuracy of order fulfillment and will map out
the process from beginning to end, always on the lookout for possible
improvements. This is a detail-oriented position that requires strong
problem-solving skills and an in-depth analysis of business processes.
Project Manager - Most
projects will have a single leader who watches over them from beginning to end.
The essential role of the Project Manager is to establish group goals. He or
she will also supervise the work of lower-level staff, ensure deadlines are
met, put in requests for additional supplies and staff and keep a particular
project on time and under budget. In most cases the project manager will report
to the Operations Manager.
Operations Manager - The
Operations Manager or Director watches over his/her department, the size and
scope of which depends on the organisation involved. A large company may have
several Operations Managers. Their job is to determine how the processes in
their departments should be implemented and what duties need to be performed.
An Operations Manager also hires
and manages lower-level staff, selects the vendors, completes departmental
financial analyses and determines the budget. The Operations Manager reports to
the VP of operations or Chief Operating Officer (COO).
Integrated Supply Chain
Management - You will be in charge of managing the supply chain. You
will make various strategic and operational decisions in supply chain
management, including supply chain modelling.
Quality Management - Quality
leadership is recognised as the key to business success in the year 2000.
Strong customer focus on all products and services, teamwork throughout all
areas of the organisation is essential for company competitiveness. You will be
in charge of issues of total quality management. ISO 9000 standards, cost
aspects, quality improvement tools, quality function deployment, business
process reengineering, benchmarking, etc.
Manufacturing Resource Planning - You will work out the
manufacturing module of any standard ERP package.
Requirements
* Above average analytical and
logical reasoning skills
* Excellent communication skill -
both verbal and non-verbal, both in English and regional language
* Above average leadership
abilities
* Very good organising abilities
* Very good ability to develop
inter personal relations
* Ability to take initiatives and
work very hard
* Meticulousness and objectivity in
day to day activities
* Enterprise and ability to be an
entrepreneur
* Ability to innovate and
thoughtfulness
* Ability to think creatively and
think fast
* Preference for group activities rather
than individualistic activities
* Ability to manage crisis
situations
You will need to have an MBA,
B.E/B.Tech/M.E/M.Tech as your educational qualifications.
Job Opportunities
You will get jobs in the
production, manufacturing, operations, logistics and quality management
function of large companies in various sectors. For example, you will get jobs
in:
Large-scale industries
Courier and Cargo companies
Amusement Parks
Large Retails outlets
IT consultants
Money & Other Benefits
Starting salaries depend on the
size and status of the organisation you work with, your qualifications and the
institute you passed from.
An MBA from a top business
school/M.Tech from IITs and other top grade engineering institutions get about
Rs 2,40,000-4,00,000 or more p.a. in the beginning.
A Middle Manager earns Rs
2,40,000-5,00,000 or more p.a.
A top Manager earns Rs
6,00,000-14,00,000 or more p.a.
Career Prospects
With the advent of the service
sector the number of jobs being offered to Operations professionals are
increasing. The boom in service sectors like retail, courier and cargo are
creating a demand for such professional. So overall, the future is
good for the operations guys.
Retail Manager
Most stores rely on a pleasant
environment to capture the customer's attention. If you enjoy a varied, lively
environment with heavy focus on people contact and real 'hands on' management
then this is a career worth considering.
As a Retail Manager, you will plan
and co-ordinate the operations of retail outlets be it small franchisees like
speciality shops, fast food chains, or sections of supermarkets or department
stores.
Your tasks would include:
* Supervising the conduct and work of staff
* Ensuring that the staff is taught correct sales procedures and have good knowledge
of the products they sell
* Maintaining a high level of customer service by ensuring that service
standards are high and that complaints from customers are quickly resolved
* Determining the layout of merchandise so that it is presented as attractively
as possible
* Monitoring the stock levels, placing orders and managing the supply chains
* Keeping and analysing records of sales figures and financial transactions
* Implementing and overseeing security procedures
* Ensuring that the outlet achieves its sales target
Retail Managers often work long
hours under pressure and even on weekends. As an executive/trainee, you will
work in different areas of a store, obtaining practical experience of each
department and gaining selling, marketing and managerial skills.
Stores open early and finish late.
You will be working even on Sundays and bank holidays. Mind you this is no desk
job. You are likely to be on your feet for most of the day.
Sales or Department Managers aim at
generating and maximising sales. The bottom line is strong customer service
within efficient store performance and an eye on the trends and implications
for the overall business.
At the senior level you will
have many more challenges like:
* Store systems, stock management, deliveries, and overall supply chain
management
* Staff management, training and team motivation
* Looking at ways to cut costs, increase sales, maintain quality, trading
analysis and planning
* Sales promotion and the effective use of floor space and layout
* Enhancing customer service and care
* Health and safety issues
Requirements
This is not a career for the
contemplative - it requires doers and quick thinkers. You are expected to take the
initiative and deliver. Customer service is paramount in this field and you
should be able to put your business skills to practical and visible
application. It is the self-motivated individuals who can infuse enthusiasm
into others who end up being team leaders.
Other qualities include:
Product knowledge or interests in
market areas like fashion, computer games, etc helps.
What about education you might ask.
Well this is the good thing folks. If you have the right aptitude and a
personality to match, your academic background really doesn't matter. Graduates
are taken in at entry level while MBAs join in at the supervisory level. Check
out opportunities for summer jobs. The experience gained in any store will come
in handy.
Job Opportunities
Opportunities are aplenty in this
field. Departmental stores, designer boutiques, fast food chains, super
markets, company stores, music stores, electronics showrooms, automobile
dealers all employ Retail Managers.
In franchisee driven corporations
such as Hallmark - the world famous manufacturer of cards, you will be
responsible for looking after numerous small franchisees in an area.
Promotions can come rapidly. You
could move on be in charge of a particular section. You could even move
laterally into roles such as merchandising, sales & marketing or even into
customer service.
Money & Other Benefits
Starting salaries are in the range of Rs 72,000-1 lakh
p.a. In a couple of years, you will be earning around Rs 2-2.5 lakh p.a. Senior
Managers make between Rs 3-4 lakhs p.a.
You must realise that these figures are inclusive of
the basic salary and other performance based incentives. So the more you sell
the more you earn. One of the best parts of this job is that your work is out
there for everyone to see. Your skills and experience therefore matter more
than your qualifications while deciding promotions.
MBAs from premier business schools start at Rs 6 lakh
p.a Other MBAs are paid in the range of Rs 3-4lakh p.a.
Career Prospects
The industry is set for a boost
with the entry of big industrial corporations into the retailing sector. The
entry of multinationals will also bring standards of customer service never
before experienced in India. Most departmental stores have in-house training
and even sponsor courses. You will also have the opportunity to travel and work
in different stores of the parent company
The companies which are in the
field for about 5 years are also going for massive expansion drives. Like the
Domino's Pizza chain is going to set up 100 new stores in the next two years.
Shopper's Stop is expanding in cities like Calcutta, Delhi, and others. RPG
group's Music World and Food World is also expanding fast in various cities. Summing up,
it's boom time for the retailers and so for the Retail Managers.
Management Consultant
You are the kind who likes to tell
others how to run their life. You believe that you know better than others do.
You like the thrill of setting up a new business. You, my friend, are a
Management Consultant.
Career Overview
Business is a complex matter these
days and more often than not you need someone to figure out what is best for
your business. It could be an international company looking at India or an
Indian company looking internationally. Their requirement could be as basic as
identifying an office in a new area. Or it could be as complex as identifying a
business partner, or looking up industrial or trade investments.
This is where you step in.
Management consulting is a dynamic profession. As a consultant you could
provide your expertise in any one or all of the following areas:
Strategy consulting involves
advising on corporate-level or business-unit strategies. What business should
we be in? How do we compete? Should we diversify or focus on core activities?
How do we fight (and win) against our competitors? The work is very conceptual
and considered glamorous.
Operations Management consulting
is figuring out how to improve the efficiency or productivity. Some even call
it reengineering. Whatever the name, there is always a need for practical,
results-oriented and detailed consulting.
Human Resource consulting includes
attracting, motivating and retaining high quality employees for a company along
with advice on compensation and benefits.
Information Technology consulting
is a new entrant. Today it is indeed hard to think of a business problem which doesn't
involve technology. A good part of systems consulting includes helping clients
install or operate massive software solutions
You will research data and make
sense of it all. You will identify the markets and competitors, prepare risk
studies as well as feasibility reports. You will identify financiers, arrange
and negotiate loans and working capital, as well as workout joint ventures.
Thus, you will handle projects
right from conceptualisation to implementation. For large-scale organisations
you will assist them in getting the ISO certifications and corporate
take-overs.
You must however remember that
there is no such thing as a typical day in this field. It involves a lot of
travelling. It is possible to work for a different client each day of the week,
but it is equally possible to work for the same client for two years or more.
Even when you are working on a project, you never know when and how the plans
may change.
Requirements
The basic qualification is usually
an MBA. In areas like IT consultancy, technical qualifications such as an MCA
or a B.E in computers is preferred. Some sort of management background,
however, is still necessary. A Ph.D or a Fellowship in Management is also a
good qualification for getting a job.
One of the important qualities that
you need to have is the ability to innovate. You should be capable of supplying
a continuous stream of new ideas to your clients. Management consulting is an
ideas-driven profession. You must therefore have the ability to bring fresh
ideas to the table
Consultants need to excel in
relationships with their clients, which must be face-to-face. Communication
skills therefore become vital. You also must have the ability to merge
inconspicuously with the client team and be able to quickly cultivate working
relationships with them. Time management skills would help you meet tight
deadlines.
Job Opportunities
If you are really good, you could
straightaway land yourself a job with big guns like Andersen Consultancy and be
a part of their army of consultants.
Alternatively, you could work in
small and medium firms where you get more opportunities to handle entire
projects.
If
you like to be your own boss, you could even start off on your own. Your
portfolio and contacts however remain central to your career growth.
Money & Other Benefits
Your clients will be charged on the
basis of the type of service required, size of the assignment and the volume of
the efforts put in the assignment.
As a junior consultant, your pay
packet would be in the range of Rs 2-4 lakh p.a. If you are from a premier
management institute, you may start at Rs 18-24 lakh or even more.
As a senior consultant, your salary
will also include the commissions on the projects you work on. Top consultants
charge as much as 35 - 40 per cent of the entire cost of the project as fees.
Career Prospects
Companies of all sorts and sizes
are looking for ways to improve quality while reducing expenditure. Value for
money is the watchword, for companies and customers alike. Thus there is a
great demand for management consultants in financial and organisational
restructuring of firms. This could be in the form of downsizing, restructuring,
acquisitions, joint ventures, strategic alliances, etc.
Increasingly, consulting firms are being asked to
carry out activities that companies no longer have the in-house staff to
perform. These include market research, human resource planning, sales and
strategic planning. Also government and government agencies will also be
looking at consultants to help them with e-governance.
Technology Manager
Many companies are talking about
convergence of technologies. And you are aware that new technologies in
virtually every field are hitting the dock everyday. At the center of all this
is Information Technology. Virtually, every three months, we have new
technologies.
It is now mandatory for a company
to keep up with newer technologies in order to be in business. But all this new
age techtalk is complicated for a General Manager of a company. Someone needs
to make sense of it all. Enter the Technology Manager.
Your main role will be managing
technologies including Information Technology. Your job begins with system
study and identifying the need for technologies for your company. You will go
on to identify sources of the required technologies, carry out budgeting,
resource allocation, cost accounting and procure the required technologies.
Your role will include software engineering, in case of information technology
and Project Management.
You will work within the organisation's
overall business plan to support core business activities. The company will use
your technical judgement to make high-level decisions and to provide overall
guidance and direction on technology matters.
Technology Managers are also
responsible for hiring and managing people, who use, adapt, train and support
the use of technologies in the company. If you handle IT, then you will be
managing System Architects and Software Engineers.
You will work with other functional
heads in the company to work out technology financing, manpower plans, product
development and upgrading operations using the technology, technical support
and other general issues. Usually, the work profile of a Technology Manager
goes like this:
Planning
You will develop a thorough knowledge of the business you are in. Identify the
areas that could get a shot in the arm with inducting new technology. Determine
the profits/advantages that you could derive from it. Then decide how you want
to go about acquiring that particular technology
Evaluation
You will find out the various technology options available to you and select
the one that is tailor-made to your needs.
Procurement
You will have to decide how much the technology is worth and negotiate it with
firms offering this service to get the best bargain
Implementation
You will oversee the integration of new technology with your business and
ensure that quality specifications are met within the stipulated deadline. This
will also include testing and checking the system for bugs. You will be the
final authority to certify that the project has been completed as per the
specifications.
Usage and support
You will get the best out of the technology. You will create systems and training
packages to maintain efficiency. You will also carry out technical support
functions.
Revaluation
Periodically, you will check whether the technology is good as per current
standards and whether it needs to be changed.
Depending on the size and complexity
of an organisation there may be opportunity for some specialisation like:
Information Technology
Manager
You will oversee planning and implementation of new or modified Information
Technology within the organisation's overall framework.
Project Manager
You will be responsible for scheduling, controlling and directing resources,
people, funding and facilities for particular projects. These projects may
involve major modifications to existing systems and technology or the
implementation of new modules or technology.
Quality Managers
You will be responsible for the preparation of quality guidelines and
evaluation of systems in conformity with established domestic or international
standards and performance criteria.
Requirements
This is an area where you are
required to be the master of two trades -Technology and Management. You can
either do an MBA with specialisation in Technology Management or an M.Tech in
Engineering or Technology with good experience in Operations and Process
Management.
In case of IT Management, usually
B.E, B.Tech, M.E, M.Tech in Computer sciences/MCA with additional qualification
of MBA are preferred. You can also have an MBA with specialisation in Systems
or Information Technology Management. But in any case, you will need good
experience to get a high profile job.
Experienced personnel in either
Manufacturing Management or computers can also rise to become Technology
Managers.
Qualities to become a
Technology Manager include:
Job Opportunities
Previously managers specialising in
areas such as planing and business development would be put through technology
related courses. But the quantum leaps in technology means that specialists are
required for this field. You will be working for industrial houses, devising
plans to streamline their operations using the latest technology.
You could also be part of
Management Consulting agencies, which offer technology consulting as part of
their vast array of services. Freelancing is not that much of an option here,
as firms prefer in-house staff that offers stability and continuity to
outsourcing it from individuals.
To summerise, you will be
working for:
Money & Other Benefits
Starting salaries in this field are
high, beginning at around Rs 25,000-30,000 a month. You could easily work your
way up to around Rs 50,000-60,000 a month in 3-5 years. Top corporations even
offer additional benefits like a company flat, car, stock option plans, etc.
However, consulting companies offer
the best deal. Your starting salary will sound like a dream in the range of Rs
1 lakh or even more a month! Lexus or BMW, take your pick!
Career Prospects
No industry wants to be left behind
technologically and the cost saving opportunities that come with embracing new
technologies in the long run are too huge to be ignored. There has therefore
been a rush to employ Technology Managers. Even abroad there is a great demand
for Technology Managers of Indian origin.
Another factor that will add on to the demand for new
breed of Technology Manager is the convergence of various technologies. For
example, convergence of life science or Biotechnology with Information
Technology, Information Technology with wireless telecommunication technology,
etc.
Operations Researcher
Managing large organizations require efficient use of materials, equipment,
and people. Operations Research (OR) analysts determine the optimal means of
coordinating these elements by applying mathematical principles to
organizational problems. They solve problems in different ways and propose
alternative solutions to management, which then chooses the course of action
that best meets their goals. In general, OR analysts are concerned with issues
such as strategy, forecasting, resource allocation, facilities layout,
inventory control, personnel schedules and distribution systems.
Operations research in its
classical role of carrying out analysis to support management's quest for
performance improvement entails a similar set of procedures. Managers begin the
process by describing the symptoms of a problem to the analyst, who then
formally defines the problem. For example, an operations research analyst for
an auto manufacturer may be asked to determine the best inventory level for
each of the parts needed on a production line and to determine the number of
windshields to be kept in inventory. Too many windshields would be wasteful and
expensive, while too few could result in an unintended halt in production.
Operations research analysts study
such problems, then break them into their component parts. Analysts then gather
information about each of these parts from a variety of sources. To determine
the most efficient amount of inventory to be kept on hand, for example, OR
analysts might talk with engineers about production levels, discuss purchasing
arrangements with buyers, and examine data on storage costs provided by the
accounting department.
Requirements
You should enjoy doing mathematics
You should love crunching numbers
and theories with a strong ability to solve complex analytical problems
You should enjoy solving mathematical
and analytical problems and have an aptitude for these
You should be very strong in all
areas of Mathematics like Algebra, Geometry, Calculus, and others
Your logical and analytical
reasoning skills should be well above average.
You need a basic degree in
Mathematics or a B.Sc in Pure Science or B.E / B.Tech with a strong aptitude
for Mathematics to pursue a career in this line. After your graduation, you
must seek to enroll for a Master's degree in Mathematics with specialisation in
Operations Research or a M.Sc. in Operations Research. You can also do Ph.D
after M.Sc.
to flock to you.
Job Opportunities
You will find opportunities in:
· Operation research departments of
large manufacturing companies
· Defence research organisations
· University departments
· Mathematical research
organisations
Money & Other Benefits
In industries, Operations Research
Analysts generally earn Rs 10,000 a month in the beginning. A senior
professional may earn anything between Rs 30,000 - 40,000 a month. In research
organisations and universities, you can earn about Rs 12,000 - 25,000 a month.
Career Prospects
Employment growth expected for OR analysts will be
driven by the continuing use of operations research and management science
techniques to improve productivity, ensure quality, and reduce costs in private
industry and government. This should result in a steady demand for workers
knowledgeable in operations research techniques in the years ahead. However one
must realise that the number of analysts employed by a compnay are very little.