What is Management
Businesses need strong leaders. A good business leader is one with a thorough understanding of economics and business theory, and at complete ease when working with people. In addition to these qualities, these leaders also require specific skills in many different aspects of business management such as marketing, accounting, human resources, and so on.
Good managers play a huge role in the company’s thriving or failure. Experience, of course, is the best teacher but the more experienced managers still need to have a strong personal understanding of proven business models.
Education in management equips aspirants to adapt to business-specific needs and to combine ideas and instincts with their business skills and knowledge. While pursuing a Management degree, one gains an idea of the different aspects of the career and bestows one with credibility in the eyes of investors and employers.
Eligibility Criteria (UG & PG) of Management
The minimum eligibility criteria that candidates must fulfil to be eligible for BBM/BBA courses are:
Aspirants must have completed their Higher Secondary Exam from any stream with a minimum of 50% aggregate marks
Aspirants must have studied English as a compulsory subject in class 12
Students coming from any background may pursue Management studies, but those with Commerce backgrounds will receive some relaxation in the cut off marks for admission
Candidates who fulfil the above criteria must sit for the respective entrance exam conducted by the institute.
The eligibility criteria for pursuing further studies in Management at the postgraduate level include:
Candidates must have acquired a graduate degree from any discipline with a minimum aggregate of 50%, from any recognized university or institute. For reserved category students, the minimum cut off is 45%
Students pursuing the final year of their graduate programme are also eligible to apply for an MBA course, provided they produce the proof of their completion of the graduation degree when asked by the institute.
Entrance Exams for Studying Management
One can study Management at the Bachelor’s level either through a BBA (Bachelor of Business Administration) or a BBM (Bachelor of Business Management) degree. Of these two, a BBM course offers specializations in different areas like Finance, Operations, Human Resources, and Marketing; whereas BBA, rather than providing specializations, acquaints candidates with the process of supervising and managing business operations.
Admissions to both BBM and BBA courses are conducted through entrance exams, followed sometimes by a personal interview. Some of the top admission exams for these two courses are:
Symbiosis Entrance Test (SET): This is an entrance exam conducted by Symbiosis International for admission to the institute’s various undergraduate courses including Management.
All India Management Association Undergraduate Aptitude Test (AIMA UAT): A national level entrance exam conducted by the All India Management Association, this entrance test is for aspirants of undergraduate management courses.
Narsee Monjee Institute of Management Studies NPAT: NMIMS, a top institute for management studies, conducts the NPAT admission exam for its undergraduate courses like BBA.
At the postgraduate level, students can pursue Management studies through the MBA course (Master of Business Administration). Several competitive, national-level exams are conducted for admissions into MBA programmes offered by the top B-schools of India. Some popular exams are:
Common Admission Test (CAT): This is an online, national-level entrance exam conducted by the Indian Institutes of Management (IIMs). The exam is a prerequisite for admission of candidates to the IIMs’ MBA courses.
Common Management Admission Test (CMAT): Another national level entrance exam, the CMAT is conducted by the National Testing Agency (NTA) in online mode for admissions to postgraduate management degree courses.
Xavier Aptitude Test (XAT): The XAT is conducted by Xavier School of Management yearly to provide admissions to candidates in the institute’s MBA/PGDM courses.
Scope of Management in India and Abroad
Management is one of the most popular choices of course of study among students in India, and this is with good reason. Vast, varied, and constantly growing businesses in different economic sectors call for highly driven, innovative, and talented professionals preferably with a degree in Management.
These professionals play very important roles in firms and individual companies, at many different hierarchical levels.
On top of that, the ever-increasing, intense competition in the business world further adds to the demand for ingenious management executives and professionals in various economic sectors, not only in India but also in any country abroad.
Course Fees Management
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Some of the common subjects taught at the undergraduate and postgraduate level to Management students related to this course are:
Microeconomics and Macroeconomics
Principles of Management
Principles of Marketing
Banking and Insurance
Operations and Supply Chain Management
Financial Statement Analysis
Human Resource Management
International Business and EXM
Statistics for Management
India and the World Economy
Indian Economic and Political History
Careers in Management
A career in Management is one that is highly sought-after and therefore highly competitive. A lot of skills need to be inculcated continuously throughout one’s career, and professionals must always try to have an advantage or an edge that keeps them in the business at respectable positions.
That being said, a Management career is highly rewarding for those who enjoy the competition. It is a highly dynamic field of work, constantly requiring you to stay updated, focused and alert.
Management is a career field strife with growth opportunities. It isn’t uncommon for professionals to start at the very bottom of the ladder and shoot to the very top in very little time, because progress depends more on one’s capability than it does on qualification.
There is no perfect way to be a good manager, however many books, manuals, and websites you look into. Experience and guile are among the more important factors in teaching one how to effectively carry out managerial responsibilities.
Another very important factor is the ability to spot trends within the industry and in business generally. Some of the emerging trends that new managers should look out for are:
Remote Workers: The pandemic that brought the entire world to a standstill taught us, more than anything else, how effective remote working can be to a business. As the number of employees working remotely from home has increased exponentially, positive outcomes have been observed not only in productivity and employee’s stress levels but also on the carbon footprints of companies. With the environmental impact and cost of commuting having almost been negated with the introduction of remote working, both companies and families are satisfied with the results.
Video Marketing: Technology is the future. Almost every company today has an online presence, some even on multiple platforms, because this practice has shown outstanding results from the marketing and awareness perspective. In this area, video marketing has gained popularity tremendously, with statistics revealing that more than 55% of people watch at least one marketing video a day, making it the marketing strategy with the highest ROI. Live videos on the company’s social media profile, promotional videos on their websites, and many other ways of video marketing have emerged that have boosted engagement and attracted lots of traffic to companies.
Training Millennials: The oldest individuals in the “millennials” group are 35 years of age as of 2020, and millennial presence in managerial positions has increased. As more millennials continue to rise to positions of managerial responsibility, a trend has begun to emerge regarding training strategies that can best prepare these people for the responsibility. As the next generation, i.e. Gen Z begins to enter the workforce, millennials will need to know how to manage them.
Continuing Education: Several new management trends are cropping up now and then, making obvious the need for continuous education of oneself. In an ever-evolving world, today’s solutions may not be the best choice for tomorrow. With technologies like Artificial Intelligence becoming integrated into more and more companies’ framework, employees must be able to adapt to constant changes.
Job Profiles and Top Recruiters
Graduates of Management are faced with broad job prospects due to the increasing need for dynamic, smart business professionals in the corporate world. After completing just a Bachelor degree, students can immediately receive placement in different sectors for various job roles. Some of the popular job roles that candidates are offered after graduation include:
Business Development Manager
Ensuring that customers receive seamless, timely service and leading the development team
Planning direct operations and improving efficiency and stability
Overseeing clerical and support workers in a company, training staff to perform tasks like answering phones and greeting customers, typing letters and reports, faxing documents
Setting up meetings with clients, helping clients determine the right policies most beneficial to them
Business Application Manager
Screening everyday operations of the application team, anticipating business requirements and providing feedback where necessary
Analyzing tasks and workshops, giving statistical advice to the senior management team
Some of the top recruiting companies and organizations of Management graduates include:
Cognizant Technology Solutions
Aditya Birla Group
As professionals advance in their careers, their salaries go through several increments. The salary earned by an entry-level manager and that earned by a senior employee is vastly different, but the average salary earned throughout their career in different job roles are estimated as below:
Average Annual Salary
Business Development Manager
Rs. 5.97 Lakhs p.a. (Approx.)
Rs. 7.78 Lakhs p.a. (Approx.)
Rs. 8.95 Lakhs p.a. (Approx.)
Rs. 3.93 Lakhs p.a. (Approx.)
Business Application Manager
Rs. 19.86 Lakhs p.a. (Approx.)
Rs. 6.07 Lakhs p.a. (Approx.)
Required Skillset for Management
Competitive as the business world is, anybody stepping into the profession with ambitions to reach the very top must have the right acumen and skills for it. Needless to say, stellar communication and leadership qualities top the list. Some of the other important skills include:
Ability to work under pressure- A very important skill for thriving in a high-pressure career. A career in management can mean a hectic lifestyle with multiple deadlines to meet simultaneously, but with a flair for working under pressure ensures that you carry out all the work seamlessly.
Research-oriented- Leading or managing a business requires you to always stay on top of things. This means staying updated about recent developments in the business world, technology world, the field of economics, and many others. A good management professional must therefore be research-oriented.
An eye for detail- In the larger scheme of things, a lot depends on the smaller details. A good management leader has an eye for detail, ensuring that everything is placed to take operations forward.
Problem-solving skills- Managers are often in charge of a team of employees, and it is their job to guide this team and supervise the operations carried out. In case problems arise, it is expected that the manager will be able to determine the best possible solution.
Course Curriculum for Management
A course in Management focuses on developing knowledge and essential skills in organization and behavior, economics, finance, accounting, marketing, human resource management, management control, quantitative methods, and information systems.
In the MBA, for instance, upon completion of the first year, students undertake summer training in managerial skills, wherein they analyze and come up with solutions to specific management problems under the guidance of a manager in the host company as well as a faculty member.
Any course in Management is aimed at preparing students to deal first hand with all kinds of business situations at various levels of hierarchy in a company.
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Frequently Asked Questions (FAQs)
Question: Which are the specializations available in an MBA course?
A- All specializations in MBA have bright prospects for students, so the choice is entirely made based on what suits your interest best.
Some of the specializations you can choose from our MBA in Operations, MBA in Sales and Marketing, an MBA in Information Technology, MBA in Finance, and an MBA in HR.
Question: Which course is better between BBA and BBM?
Apart from the fact that BBA offers certain specializations, the curriculum of both is nearly the same, as are the fundamental concepts. Thereby, both courses are incomparable in quality, you can choose either.
Question: Does the BBM curriculum include industrial training and exposure?
The answer to this varies from college to college; some colleges take industrial training very seriously, while some even make it a part of their curriculum.
Question: Is Mathematics in Class 12 mandatory for studying BBA?
No, mathematics is not a compulsory subject in Classes 11 and 12 for aspirants of BBA. A majority of universities accept candidates from all streams with the simple requirement that they have acquired the minimum cut off marks.
Question: Can I pursue a correspondence course in MBA?
Yes, certain universities like Indira Gandhi National Open University (IGNOU), Osmania University and Annamalai University offer MBA degrees in distance learning/correspondence mode.