Specialisations in management
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The document discusses different specializations available in management, including marketing, finance, IT/systems, human resources, and operations/supply chain/logistics. It provides details on various career paths and roles within each specialization, such as product management, retail management, investment banking, corporate banking, insurance, and project finance.
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Specialisations in management
- 1. Different Specilisations in Management NISHANT PRIYADARSHI CO-FOUNDER & DIRECTOR VISTAMIND
- 2. Major Specialisations Offered Marketing Finance IT/Systems Human Resource (HR/PM&IR) Operations/Supply Chain/Logistics
- 4. Marketing Defined The process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy individual and organizational objectives.
- 5. Advertising & Public Relations The core activity is to take a product and construct promotional campaigns that get people excited about the product. On the PR side you will help to manage the perception of the products. Advertising Media Planner Copywriter/Illustrator/Creative Production Manager Public Relations Specialist Accounts Executive
- 6. Market Research Market researchers figure out what drives people to buy any product. Key tasks in market research involve collection and analysis of market information, identification of market trends and market segmentation. Market researchers are applied consumer behaviouralists, combining quantitative data with their understanding of how markets work to better promote a product. Market researchers use tools such as statistical analysis packages, surveys, focus groups, new product tests, etc to help achieve success for a product. This field is booming and with ever-improving data capturing by using bar code scanners, cookies on the net, etc. Jobs in marketing research are increasingly global and call for both a grasp of culture, of markets, and quantitative methods. The field of market research is one of the most interesting, highest growth occupational categories available today.
- 7. Careers in Market Research Practice inside a corporation Consulting practice as a solo practitioner Consulting practice while teaching in academia Consulting practice inside a large firm Practice inside an ad agency
- 8. Product and Brand Management Product managers are responsible for the marketing and development of products. Jobs in product management are both strategic and tactical. Strategic because product managers are responsible for positioning a product, assessing the competition and thinking about the future. Tactical because they are in the field developing appropriate promotional campaigns, talking to reps about what customers want and think and doing the day-to-day sales tracking that's required for any major product category. Product management professionals are excited about managing and strengthening brands. They are at the vortex of company life because their decisions directly affect the success of a business. Product management professionals also tend to be on the leading edge of social and Internet culture. Understanding the consumer's mind and the connection between consumer behavior and a brand is central to succeeding in product management jobs.
- 9. Product/Brand Manager Budget Quarterly Region-wise allocation New launches Pilot National Execute instructions Marketing Manager Sales Manager Media & Advertising agencies Analyze Consumer & Media research reports Promotional campaigns in consultation with marketing Manage the sub brands
- 10. Retail Management Retail is one of the largest, most dynamic parts of the world economy. In good economic times, jobs in the retail sector are numerous and many entry-level positions are easy to get. Even during economic contractions, when some retailing sectors suffer, others--like groceries, drugstores, and discounters--continue to thrive. Careers in retail are people-oriented, fast-paced, and have room for creativity. Retailing jobs are for service-oriented, entrepreneurial profession. The options are many including store management, buying, merchandising and central management. There's also the booming area of e-tailing (online retail). If you have an interest in technology, marketing and retail, these may be the retailing jobs for you.
- 11. Retail Management Department Manager Store Manager for a department, like clothing, accessories, home appliances, etc. Store Manager Responsible for the operation and performance of one or more stores Merchandise Manager Responsible for selecting/buying the merchandise that a store carries Operations Manager Takes care of the logistics, availability of stocks, etc
- 12. Online Retail Category Managers Customer Service Logistics / Supply Chain Managers
- 13. Area Sales Manager Entrepreneur Manage Sales Officers, Distributors, Salesmen Target: Managing and breaking up of targets Allocation of resources & budget for promotions Managing local promotions Managing credit for distributors Supply Chain Order of new stock Forecasting of sales Coordinating consumer research Field trips
- 14. Careers in IT
- 15. IT/Systems Business Analyst Pre-Sales/Sales/Business Development Manager Consulting & Implementation Domain consulting (Eg ERP like SAP, PeopleSoft) Security Management consulting Technical consulting Functional/Process consulting Project Management Quality/Testing Manager
- 16. ERP - Functional Consultant ERP Implementation Understand customer requirements Map them to ERP standard functionality Customize the gaps Conduct workshops / pilot room pilots / training Change Management Provide industry specific expertise
- 18. Careers in Finance Commercial/Retail Banking Corporate Banking Corporate Finance Financial Planning Equity/Brokerage/Financial Services Equity Research/Rating Insurance Investment Banking Project Finance Treasury Management Private Equity
- 19. Retail Banking Providing banking services to individuals, small businesses and large organizations. Most of the jobs of financial services industry are in this field Banks offer a diverse basket of products today including leasing, credit cards, insurance, mutual funds, advisory, international finance and trade credit.
- 20. Retail Banking Deposits / CASA / Liabilities Savings Account, Current Account, Salary Account, FDs, etc Loans / Assets Home Loans, Car/2 Wheeler Loans, Personal Loans, LAS, Gold Loan, etc Investments Bonds, Mutual Funds, Equity, FMPs Insurance Cards Credit Analyst Private Banking / Relationship Manager Branch Manager
- 21. Corporate Banking Refers to financial services offered to large/wholesale clients Traditional banking services International transactions Trade financing Foreign exchange transactions Protect firms against currency and price fluctuations Investment Banking Project Finance Insurance Advisory Services Shareholding Participate in the management of or own shares in companies.
- 22. Corporate Banking Roles Relationship Management New Business Development Credit Analysis
- 23. Corporate Finance Management of the companys finances Working capital management Debt/Equity Project Finance Mergers & Acquisitions Loans/Credit Limits/Overdrafts Mandatory Disclosures Investments
- 24. Financial Planning Portfolio Management Advisory Services Life Cycle products Management across different asset classes
- 25. Equity/Brokerage/Financial Services NBFCs offering bouquet of services like: Share trading Demat account Mutual Funds Insurance Loans Advisory
- 26. Equity Research / Rating Equity Research at various Fund houses/brokerages/banks/NBFCs Buy/Sell recommendations Rating agencies like CRISIL, ICRA, CARE, etc
- 27. Insurance Life and non Life insurance ULIP and Term Plans Various investment options Regulated by IRDA Roles Structuring of plans Sales and service of plans
- 28. Insurance Public Sector Insurance jobs Administrative Officers Development Officers Private Sector Insurance jobs Sales & Distribution Training & Development Actuarial (Product Designing, Product Pricing, Customer Value Management, Risk Management and Capital Management) Underwriting Markerting & Distribution Operations Investment Professionals
- 29. Investment Banking Assist public and private corporations in raising funds in the capital markets (both equity and debt) Underwriting and distributing new security issues Offering brokerage services to public & institutional investors Providing financial advice to corporate clients, especially on security issues, M&A deals
- 30. Investment Banking Investment Banks help companies and governments issue securities, help investors purchase securities, manage financial assets, trade securities and provide financial advice. Smaller investment banks are regionally oriented, situated in the middle market or are specialized boutique firms focusing on an industry vertical, bond-trading, M&A advisory, technical analysis or trading.
- 31. Investment Banking Industry Coverage International Corporate Finance Sales/Emerging Markets Capital Markets Public Finance Mergers & Acquisitions Retail Brokerage/Private Project Finance Client Coverage / Stockbroker Trading Institutional Sales Structured Finance Ratings Analyst Derivatives Advisory Equity & Fixed Income Research
- 32. Project Finance Large infrastructure projects, long term loans Non-recourse or limited-recourse finance Benefits can only be reaped in the longer term Lenders are repaid only through the revenues generated by the project itself Involves many financiers The initial costs very high Complex financing method Risks (financial, technical, environmental, political etc) Project finance is comprised of a mix of equity and debt
- 33. Treasury Management Treasury fund and revenue at the disposal of a commercial bank The treasury unit acts as the custodian of cash and other liquid assets. The art of managing the consolidated funds of the bank optimally and profitably within the acceptable level of risk is called Treasury management. Liquidity management Risk exposure management Asset & liability management
- 34. Private Equity Private equity refers to the activity of purchasing all or part of the equity of companies in a private deal. It may lead to leveraged buyout transactions, partial stake purchases in public companies or investments in private companies. Angel Investors, Venture Capitalists are also related careers. The entry level job in private equity is as an analyst (undergrad) or associate (recent MBA or masters). You would typically be involved in a combination of four activities: spreadsheet analysis of the economics of a potential leveraged buyout, sourcing of new deals through industry research and screening of potential buyout candidates, preparation of materials for a senior partner on a potential investment target or company already subject to investment or coordination of the many diligence and research items required to carry out a transaction.
- 35. Careers in HR
- 36. Human Resources Helping an organization manage its people. Hiring and firing, training, compensation, administering benefits and handling the informational side of people management. HR managers are frequently in top management roles and are critical to the success of any company. To excel in this role you have to be sensitive to the needs of the other departments and see their perspective. You need to be able to see the big picture to help sell ideas to the other functional managers and to serve them as internal clients. You have to be able to sell HR throughout the organization to come up with solutions that will be most effective. This is an exciting career area that attracts people who are sensitive, big picture, team-oriented, extroverted and honest. On the other hand, because human resources jobs support more visible functions in the company, they are not for people with huge egos and a strong need to be center stage. The human resources field is changing rapidly with increasing use of technology, training and outsourcing. A career in HR promises to keep you busy, engaged and deeply involved in making things happen in your company.
- 37. Human Resource Recruiting and Placement Managers Search for promising job candidates once a requirement is raised within the company or as per hiring plan. Conduct the selection procedure: Short listing, assessment, background check, reference check, HR interview, etc. Also internal placement, transfers, promotions and firings. Development and Training Specialists Analyze, plan, develop, coordinate, and conduct training and orientation for all levels in the organization. Train employees in necessary job skills and for advancement. Create training manuals, procedures, and training programs for the organization. Compensation specialists Develop and administer job evaluation systems; write job descriptions; manage wage and salary systems; design and administer incentives, stock options, and deferred compensation; and conduct executive programs.
- 38. Human Resource Benefit specialists Provide information and counseling to employees concerning fringe benefits offered. They also analyze benefit plan costs and effectiveness. Employee and Labor Relations Supervisors Establish and maintain employee-management relationships. Employee relation specialists deal with quality of work life programs and employee grievances; while labor relations specialists deal with union contracts, negotiate collective bargaining agreements, and handle formal union-negotiated grievance procedures. Health, Safety, and Security Specialists Develop health and safety programs; conduct safety inspections; collect accident data and report safety records; prepare government reports; maintain contacts as needed with government security agencies like local police and the federal Department of Homeland Security. Other HR Specialists Work for private employment agencies, governmental agencies, executive search firms, outplacement firms, RPO, HRO, consulting firms. Jobs include: human resource information system specialist, employee assistance counselor, employee assistance program manager, employee communications director, equal employment opportunity representative, affirmative action coordinator, outplacement consultant.
- 39. How HR Spends Its Time Source: Adapted from How Much Time Should Your HR staff Spend on Recruiting? Human Resources Department Management Report, June 2000, p. 6. Figure 16
- 40. Operations Management Operations Management is the heart of any company. It involves the essential steps of producing/procuring goods, quality control, quality management, managing the supply chain, facilities management, product formulation and design, ordering of goods, warehousing of goods, contacting vendors, purchasing of external products. A related discipline is Operations Research. This area involves the use of quantitative tools such as dynamic programming to solve corporate problems such as how to schedule arrivals of airplanes at a hub. These positions require excellent people skills, the ability to master processes and mechanical matters and intelligence. It is important to be familiar with information technology, quantitative analysis, people management and problem solving.
- 41. Operations Management Operations Manager Focused on optimizing general corporate infrastructure by monitoring and changing the work environment, vendor selection, supply chain management, real estate and budgets. Materials Manager Stores a product through all phases from production to finished goods, shipping between departments, transportation to distribution centers, warehouses, and customers. Materials mangers must insure that the firm has the right item, at the right time, for the right price. This holds for both good and services. For services, the emphasis is on ordering, receiving, storing and distributing any resources required to perform the service. Jobs include: traffic manager, warehouse manager, logistics manager, materials manager. Purchasing Manager Buys the goods and services, raw materials, and supplies required by the firm for its operation. They coordinate the quantity, quality, price, and timing delivery appropriate for the firm's needs. Jobs include: expediter, buyer, purchasing agent, purchasing manager. Industrial Production Manager Coordinates the activities of production departments of manufacturing firms. They are responsible for the production scheduling, staffing, quality control, equipment operation and maintenance, inventory control, and coordinating the unit's activities with that of the other departments. Jobs include: line supervisor, manufacturing manager, production planner, production manager.
- 42. Operations Management Vendor Development Search, identify, train and maintain vendors for supplying of raw materials/components Operations Research Analyst Decides on the best allocation of resources within an organization or system. Resources include time, money, people, space, and raw materials. Recommends what project to keep and what project to drop. Jobs include: industrial engineer, systems analyst, office manager, forecaster. Quality Assurance Manager Check the quality of the product at all stages and work on prevention of product deficiencies through prevention, detection, and correction. Jobs include: quality assurance manager, inspector, technician. Facilities Coordinator Designs the physical environment of a company. Work on building design, furniture and associated equipment. Logistics Manager Responsible for supply chain management in a key area of the corporation. Focused on efficiency and accuracy in receiving and shipping goods. Highly process focused.