Today, management has become an inevitable part of all sectors. It is not confined to four walls of a factory but is necessary every where be in an educational institution government, army, agriculture, club, trade union, small business and even at home. Whatever you do in your professional life, the chances are that it will involve some businesses.
Scientists engineers even artists with inevitably have to understand at least the basics of business and probably a lot more. Companies of the future will consist of groups of specialists who work together on specific project. Many more People will be what we call today independent and will have to understand about the opportunities and constraints of business. Economic cycles are getting shorter and hence new managerial skills are required to cope up with the downturn therefore curriculum is being engineered to equip the new breed of managers to handle all kinds of market scenarios that include upturns in the market too. In other words the combination of specialist qualification and business knowledge will become vital. What is business Education? Before embarking on a business education you need to ask yourself a basic question what should a business education give me? Most subjects that one studies are composed of theory and practical.
Indian management graduates no longer queue up for safe government jobs. They prefer and enjoy the challenges and risks of becoming entrepreneurs and global players in the emerging private sectors. A unique feature of the transition of the Indian economy has been high growth with stability. The Indian economy has proved its strength and resilience when there have been crises in other parts of the world including Asia in recent years. This seems to be good news for the role and importance of management in present scenario.
Marketing, finance, production and personnel are the four major areas in management with each having several sub branches. Marketing management includes sales, purchases, international marketing (exports-imports), advertising, marketing strategy, materials management, consumer behavior, market development and research. Financial management includes all the aspects relating to finances, investments financing decisions portfolio management, project management, working capital management, international financial management etc. Production management takes care of production methodology costing, operations research and quality control etc. Personnel management deals with the most complicated aspect i.e. management. It looks after the areas of Human Resource Development (HRD), recruitment, training management and personnel policies, organization behavior, management of change and general administration. Finance management is very popular management program. In corporate sector the nature of financial control has changed from simple accounting to integrated control systems. This control system is based on enterprise resource planning. To manage such financial transactions a new category of job is defined popularly known as fund managers and equity analysts. You can also work as a financial planner where you can help individuals plan their financial planner must understand investments, taxes and estate planning issues. Also, he must be a good listener.
If you think, you possess an ability to accomplish a mission task or object with a management aptitude then, MBA is perfect for you to make a career. All the qualities are basic in nature that will provide you platform to take off the flight of career in the horizon of success. Management studies of success. Management studies are an important medium that facilitates improvement of leadership qualities and turns out excellent future managers. Management courses with specialization in different areas prepare students to face the constantly advancing corporate world and impact effective people management skills. If you want to become a management graduates and make a mark in the management of business in the country or abroad, there are many institutes both state run and private which can private you the requisite degree. For getting admission into these management institutes, you have to appear for entrance tests. These include CAT (for IIMs), MAT (AIMA), XAT (XLRI), FMS, JMET (IITs & IISc), OPENMAT (IGNOU) and all large number of others. Of these, we are going to talk about two major admission tests CAT (Common Admission Test) and MAT (Management Aptitude Test) which can open the floodgates of opportunities in this field.
Percentile scoring expresses the rank order of the scores in percentages. The percentile level of a person’s score indicates the proportion of the group that scored above and below that individual when a score falls at the 50th percentile, for example half scored lower a score at the 80th percentile indicates that 20 percent scored higher and 80 % scored lower than the person being evaluated. The aptitude test scores reflect ability. Those scores do not determine ability. The scores may suggest, but never proves your worth. It is you who have to discover own potential without leaving any stone unturned.