Career in Management

Any enterprise succeeds only when it has the support and guidance of a good managing team. Most recently, we have seen the pattern that many bright start-up ideas fail to show the impact. That is primarily because they don’t get the good managing team. India is currently in the state of economic development complemented with a wide availability of manpower. We need trained professionals who know how to manage the human resource. Not only that, but we also need professionals for managing the accounts, technical segments and so on. Management is the degree that endows an individual with the skills to handle all these. In India, we get diplomas, degrees as well as certificates in management. Many working professionals opt for the executive management programme to handle both professional and educational life. 

The typical MBA demands at least graduation degree from the candidate. The additional requirements depend upon the course specialization and the college. Some institutes like IIM Indore even offer a five-year diploma course just after the intermediate.  One needs to opt for the specialization. There are management courses for finance, HR, accounting, event management and so on. As a matter of fact, new courses are always being made to suit the needs of the growing industry. As for example, sports management was an unheard term ten years back. But with so much of sports events going on nationally and internationally, it is a booming career.

India is home to some of the best management colleges in the world. Indian Institute of Management's are known for their trademark quality and also placement record. IIMs take admission through Common Admission Test - CAT. Upon qualifying that, you need to clear their GD and PI rounds. These colleges ensure that you get the best faculty, exposure and also the right environment to grasp the details of the managerial life.

Other than that, here is a list of well-known institutes offering management courses:

• FMS, Delhi
• BHU, Varanasi
• XLRI, Jamshedpur
• MDI, Gurgaon
• IIT Kharagpur

Salary Pattern

Management is one of the highest paying careers in India right now. An average salary of 8lacs per annum is offered to candidates. If you graduate from the top management colleges, you will easily fetch anything around 24-40 lacs per annum. Of course, a majority of the salary depends upon your skill set, the college and also the company you work for. 

Career Prospects in Management

Management as a career has a wide range of prospects. Basically, every enterprise needs managerial positions for proper functioning. Here is a list of best career options in management:

• Business Management: Business management, as the name suggests focuses on the management of business enterprises. Along with the technical skills, you need to have analytical skills, good communication skills and above all ability to work in extreme conditions. An MBA degree in Business Management or PGDM is required to venture into this field.  The salary structure is pretty handsome. Also, you get the much needed global exposure. 
• Airport Management: Airport may seem like a normal transport junction. But in fact, it itself requires a number of dedicated managerial staff. You must have noticed that an airport not only handles arrival and departure of passengers but also of the cargo. And in the case of international airports, there are separate counters for handling immigration. An airport’s efficiency is measured by the speed in which all the processes get covered up, its safety and the passenger utilities. Airport management focuses o all these aspects. From foreseeing safe landing and take-offs of the flights to the easy availability of transport outside, every aspect comes under this domain. You need to have the grit to handle the pressure and skill to multi-task with a professional degree like MBA in Airport Management to enter the field. This is a really challenging field with lots of scope as more and more airports are coming up n our country.
• Financial Management: An organization functions smoothly solely because of its finances. With financial management, this target is achieved. After the LPG policy was rolled over in India, more and more MNCs came. With that came the greater need for financial management experts. As a professional in this field, you need to handle the finances, plan the expenditure, look out for better investment opportunities and achieve the financial goals of your organization. You can enter the field of Financial Management by getting an MBA degree or PGDM with Financial Management as specialization.
• Hotel Management:  India is at the forefront of the tourism boom. And hotels are the prime necessity to sustain this boom. Hotel management involves a multi-dimensional management of restaurant services, room services, front desk operations, handling customer’s demands and financial management. A hotel with bad management is hard to attract tourists. So the candidates with hotel management degree are in huge demand both in India and internationally.
• Event Management: India is the home to the largest film industry in the world. Every day, lots of stage shows are done by celebrities. Along with that, the local artists also perform.  Not to mention the big fat Indian weddings and numerous other functions. Event management professionals are involved with planning, execution, marketing, safety and budgeting of such events. You need to have an in-depth knowledge of how to organize different events. The requirements of a fashion show are completely different from a cultural show. Also, the communication skills and ability to work with large workforces should be there.
• Export Management: Export-import is an integral part of international business. With India being a major global player, this management speciality is in high demand. The professionals in this field are concerned with costing, sourcing, market research, freight marketing, distribution, export finance, documentation and also foreign exchange. A strong grasp in the subject is the must. Also, you need to be aware of the recent developments in the export laws and regulations from around the world.
• Retail Management: There are a growing number of supermarkets as well as online retail companies. These require trained professionals for smooth functioning. They are entrusted with the responsibility of accounting, marketing, stock procurement, budgeting, and central management. Big chains like big bazaar, reliance trends etc. need such professionals. The market is growing and so are the job opportunities.
• Accounting Management: All the major organizations need an accounting department. The accounting management experts’ deal with planning, implementation, and control of programs related to accounts of the company. They also need to analyze data over the period of time and suggest profitable measures. 
• Human Resource Management: This involves recruitment, training, and appraisal of the employees for a company. Every company runs on a team of skilled professionals human resource executives need to interview the candidates, select the deserving ones and then induct them into the company. They are also entrusted with the responsibility of their constant skill enhancement programs. 
• Sales and Marketing Management: You must have noticed that all brands put their advertisements on various platforms to attract customers. This is done by their sales and marketing team. As an expert in this domain, you will be required to come up with novel ways to attract more customers, reach a vast majority of the population, oversee the sales figures and so on. You need to have strong marketing skills, communication skills and ability to work under extreme pressure. The pressure to reach the sales target can get daunting sometimes but this field is expanding fast and so are the opportunities.
• Hospitality Management: As the middle class is getting richer, more tourists are coming to India and the living standard of people are rising, so is the need for trained hospitality management experts. The services that are offered to you when you go to a spa, restaurant, salon or any such places come under hospitality management. From managing food and beverages for the guests to handling clients at the front desk, you need to deal it all. This career option is seeing a boom and is attracting a lot of international payers too. So, the career prospects are bright and well-paying too.
• Sports Management: Sports management is still a new career option.  There are a lot of commercial sporting events taking place now in our country. IPL, pro kabaddi league, and all such state-level events require the planning and execution of trained professionals. From meeting the standard ground requirements to managing the crowd, this field needs all skills. As an expert, you will be required to look after the requirements of players like a proper dressing room, proper availability of their food, accommodation and so on. Also, the security of the ground needs to be paid attention to. There are few institutes that impart MBA sports management and other courses in the field. This is a lucrative career option, especially for sports enthusiasts.
• Rural Management: India is a country of villages. A majority of her population resides in villages and they are devoid of any technological advancement. Most of them are involved in agriculture and are poor. Rural management aims at empowering these people with the recent technological advancements. When newer methods and technologies are used in agricultural practices, it yields a higher return. Likewise, using the renewable and sustainable sources of energy like solar and wind energy allows the continuous power supply to villages especially those in the areas where laying down of electrical wires is not feasible. There are numerous such accounts where innovation can be and is used for developing villages. Al this comes under rural management. This field has always been at the centre of the Indian government’s planning. Also, several NGOs are involved in this field. Not only you get to show your innovative side but also do something fruitful for the development of your nation.
• Dairy Technology and Management: As we have mentioned earlier, the majority of the Indian population is involved in agricultural practices. This involves dairy too. Now the cattle too need to be managed in a way in which it is profitable for the farmers. The local breeds do not yield that much milk. So the cross-breeds were introduced. But that alone is not enough. The farmers need to be educated about the right kind of fodder, ways to store milk for a longer time, ways to increase their profits and above all develop entrepreneurial skills. The process of milking needs to be made lesser labour intensive and more scientific. Also, the process of making milk products need proper management. All this comes under dairy management. This field holds lots of opportunities. 
• Industrial Management: India is going through the phase of industrial growth. As a result, a number of industries and factories are coming up. These require people who can monitor the production of goods, procurement of raw material, management of human resources and overall management of the production unit.