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Planning : This is a major function of any
manager and a proper planning is the key to any company's success.
The manager is responsible for planning and keeping a constant
check that things are moving in the right direction. |
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Organizing : The manager is responsible
for selecting people for the work, setting up a proper plan of
work and coordinating to take stock of the situation. |
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Direction : This is the most important
role of any manager directing juniors to work and encouraging
them to perform better. |
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Areas of Management : The four key
departments of management are: Personnel, Finance, Production
and Operations.
These areas of specialization can be mastered through a proper
course in management and on- job-training. |
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Personnel Management : This area of
management deals with functions like recruitment, training,
placement, promotions, transfers and people related problems like
leave, labour, discipline, grievances and dismissal. |
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Financial Management
This is the most important aspect. This also is responsible for
drawing up budgets, executing financial programmes. This
department also conducts profitability appraisals and is
responsible for the organisation's financial policies. |
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Production and Operations Management
This department deals with the production management of the
company. It also regulates various stocks of purchases.
The production manager also looks after the output of the
organization and plans the schedule. In order to yield better
quality goods the production department also researches new
products, develops new designs; develops new specifications and
designs new packaging, etc. |
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At the materials department, proper coordination of
the material is done. On the factory site, it is the duty of the
operations manager to organize, co-ordinate and supervise the
efficient utilization of men, money and materials. |
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Sales and Marketing Management
The ultimate success of a company depends on the proper sales of
its goods and on effective marketing strategies. It is the duty of
the marketing department to direct the flow of goods and services
from the producer to the end user, with emphasis on the profits.
It is also the duty of the marketing management people to
formulate strategy to deliver goods and services efficiently and
inexpensively to the customer. |
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All these departments are
normally very well-structured. A good manager would have basic
information on all the fields and works for the betterment of the
company.
Managers are team leaders, and at all levels they must inspire
their subordinates into carrying out their tasks effectively. With
the increasing complexity and high level competitiveness,
diversity and expansion, management activity has given rise to a
number of cross functional specialist areas. For instance, a
multinational trading company might require a financial manager
who has specialized in international management. Some of the
growing cross-functional areas in management are: international
management, communications, advertising, information technology,
etc. |
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Career Levels
Though promotional prospects vary from company to company, for a
successful MBA, growth is not a problem. As he switches from one
company to the other, his career prospects increase and so does
the perks and the money. The salary structure varies from level
to level. Following are the levels : |
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Trainee : Fresh MBAs are usually recruited
on-campus and their internship training is usually for six months
to two years. During this period, trainees spend time in each
department with the objective of learning the functioning of an
organisation. |
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Junior level : On confirmation of service,
new recruits are designated as Junior or Assistant
Managers/Executives. This is frontline operations management,
and junior managers are responsible for controlling the work of
a number of people who are all doing the same thing. This
involves doing routine work which often becomes boring. At this
stage job switch-overs take place and people look for new
avenues. |
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Middle Level : Appointments are to General
Manager or Senior Manager / Executive level. Their position
spans a wide range of jobs and responsibilities. Middle managers
supervise a number of junior managers doing different kinds of
work. Junior managers wanting to move up must, therefore,
broaden their experience and move sideways before moving
upwards. |
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Senior Level : After gaining enough
experience, usually around the forties a bright manager, gets
promoted to the rank of a Senior Executive. It constitutes
positions of Vice-President; Director or CEO. Senior level
managers innovate and lead. They are the team leaders on whose
responsibility the future load of the company rests. |
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Academic Course
There are basically two ways to enter a career in management. By
becoming a specialist with an MBA degree from a recognized
institution, or through on- job-training. The latter has its own
drawbacks and growth prospects are very limited. |
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The best and the surest way to gain entry into
this career is by obtaining the right training and
qualifications. Companies prefer to recruit business graduates
as they tend to learn jobs faster and are more capable of
handling responsibility than others. Management training
sharpens business skills and provides an overview of the
corporate milieu.
It teaches the application of logic and analytical methods to
problem solving, and grooms future managers to effectively
discharge their roles in a changing scenario.
It must, however, be remembered that an MBA degree does not
transform an inexperienced and immature undergraduate into a
licensed manager. Students must be motivated to learn business
skills on their own in the present day corporate environment.
Still, in an increasingly competitive job market where every
small advantage counts, the MBA degree holder will have better
paying job prospects than those without it. |
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Basic Qualifications
A graduate degree in any stream with minimum 50 percent in
aggregate is the essential qualification for eligibility in
applying for the course. With the promising prospects that
management degree offers, many engineering graduates are also
pursuing a management course. This helps them in their future
prospects. |
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Most business schools follow the same selection
pattern. A written examination called the Common Admission Test
or CAT is held in December each year by the IIM. Other
institutions hold separate entrance exams. The test paper
consists of verbal and problem solving abilities, comprehension
and data interpretation. The first test is an elimination
procedure The next step is the group discussion and the
interview. |
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There are several part-time and correspondence
courses available which are more flexible. These part time
courses are generally for two or three years. |
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Career Prospects
Placements are usually done at the campus only, which most of
the companies visit and recruit people according to their needs.
Many MBAs also venture into their own business. The career track
also remains quite impressive as management graduates are always
given preferences over non management graduates. |
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Remuneration
The salary structure is always very high for management
graduates. The starting salaries are high depending upon the
size of the company. There is no rigid pay structure and it all
depends on the candidate's educational qualification, work
experience and track record. As one goes higher up the corporate
ladder, the salary structure increases manifolds. |
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Institutions
There are various institutes which cater to all types of
management courses. Some institutions are run by the government
like the IIMs, while others are private institutes and some are
international institutes. |
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There are four Indian Institutes of Management
which are purely autonomous institutions set up by the
Government of India. They are rated as the premier business
schools within the country and students passing out from IIMs
are usually recruited by the best companies in the country. |
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Most of the Universities have undergraduates,
post-graduate and doctorate level studies in management with
placement facilities. Many private institutes have thrived which
are also catering to students from all corners of the country.
Even some companies conduct one-year diploma courses that train
individuals for junior managerial posts internally. |
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