Areas of work in business management

Professional managers, depending of individual skill and specialization, usually operate within one of the five defined functional areas. These might vary slightly from organization to organization.

• Personal Management or Human Resource Development
• Finance
• Production and Operation
• Sales and Marketing
• Management Information Systems (MIS)

There are also some special areas for work in business management that is a particular type of business management.

• International Management - deals in all areas of international trade and business.
• Public System Management - management of public enterprises, non-government organization and cooperatives.
• Operational Research - using mathematical analysis for solving financial and production problems.
• Technology Management - specializes in all aspects of technology, including financing and marking.
• Management Consultancy - responsible for identifying and correcting problems concerned company policies, procedures and methods.
• Hospital Management - responsible for the efficient running of hospitals and health care organizations.
• Hotel Management - concentrates on all aspects of hospitality and hotel administration.
• Rural Management - utilizing management practices for managing agro-based and other village industries as also marketing rural products.
• Forest Management - responsible for handling the administration and marketing of forest-related projects and products for forest development.
• Disaster Management - this comes into action during the times of natural calamities and disasters and is involved with reconstructing and rehabilitating disaster-stricken people and managing relief materials and other resources.
• Leisure & Event Management - management of leisure-related activities, clubs, parks and events.

Eligibility for business management

Graduate studies in business require a good percentage in standard XII from any subject stream. However, subjects such as commerce, economics and mathematics would prepare a candidate better for business studies. Selection is either on the basis of class XII marks or through an entrance test.

Job Prospects

Fresh management graduates are usually recruited on-campus. Corporate organizations, multinationals, foreign banks, foreign financial institutions, and others attempt to woo students from the top management schools with lucrative job offers. Most of the major business schools have also initiated career placement schemes for the benefit of graduating candidate. MBA degree holders can join any of the following as executive or assistant managers.

• Banks
• Financial Organizations
• Public Sector Enterprises
• Industrial Houses
• Business Houses
• Export Companies
• Multinational Companies
• Marketing Organizations

Remuneration

Remuneration package for the BBA/BBM/BBS are among the highest today, as there is still a predominant shortage of well-trained managers. Starting salary and perquisites vary depending on the size and prestige of the recruiting organization, the candidate's qualification and the institute of training. They could be as low as Rs. 12,000 per month or as high as Rs. 80,000 per month for management graduates. A management degree with an additional professional qualification, like Chartered Accountancy (CA), Indian Cost and Works Accountancy (ICWA), Company Secretary (CS) or Chartered Finance Analyst (CFA), enhances a candidate's earning capacity.