It is a known fact that a career in management has established itself as a stalwart among professions. A large number of aspirants are making a beeline to get into the most prestigious business schools of the country. But it is neither a straight line and nor is it the same for every aspirant. Many get into the field lured by the limelight of executive job profiles and lucrative pay scales. But the field of management is much more than just the fame and pecuniary gratification.
Management is about optimising each constituent of the process that satisfies the customers' need. Every area of management-be it marketing, finance, human resources or operations has a significant value creation opportunity. While the popularity keeps fluctuating with time, the significance of each one of them remains equal and high. The variables attributed to such growth could be globalisation and personal customisation on offer.
"To be able to manage in this global turbulence, most of the people need support either through insights or through experiences. These insights and experiences are conceptualised and encapsulated in form of management education," says Dhananjay Bansod, chief people officer, Deloitte, India.
An MBA degree is considered to be a coveted piece of article and paves way for a lucrative job offer. More often than not corporate organisations prefer MBA professionals over conventional graduates. Although the preference or the absence of an MBA is in context of the job requirement, the skills required for the job are precipitated jointly by the domain experts as well as human resource professionals.
The selection of the institutes too is a joint responsibility. The probability that a management graduate will create higher value than a graduate is high-taking a long term perspective, hiring MBAs often is a smart decision. "Today industry wants human resource management professionals who are also business managers and have an understanding of the overall business perspective," says V. K. Gupta, director, Management Development Institute (MDI).
Gone are the days when a management professional was confined to managing expenses and swore by deliverables to achieve. Today, it is a most sought after discipline that offers a range of opportunities helping aspirants to climb up the corporate ladder.
Aspirants can choose to specialise in the field of finance, marketing, executive, international business, human resource and entrepreneurship to name a few. "In terms of number of jobs being offered to management graduates in functional areas such as finance, marketing and human resources will witness the maximum growth in the near future," says Samir K. Barua, director, Indian Institute of Management, Ahmedabad.
Industry experts agree, Ashok Suyal, vice president, Talent Acquisition and Deployment, GlobalLogic, says, "Sales or marketing continues to remain as top draw among management aspirants followed by finance and human resource. Traditionally management is seen as a fast-track career to achieve higher professional objectives and within ranks. I believe that today a degree from any premium B-school is pre-requisite for a successful career launch. In days to come this will only increase as the businesses are becoming more competitive and global in nature."