Management is becoming a necessity in this fast-paced world. It is the need of the hour now in almost everything, be it a simple work or a complex task. What exactly this management is? The term ‘management’ stands for planning, organizing, budgeting, directing, multi-tasking and controlling the organization or a process for accomplishing the targeted goal. Management as a career is good for those people who are born leaders and those who love to lead and take the charge. Management expert, Peter Drucker says, “The basic task of management is twofold : marketing and innovation.” As per the views of Henri Foyal, management is a mixture of six functions, namely, forecasting, planning, organizing, commanding, coordinating, and controlling.
For becoming an effective manager, a person needs to have four important skills, political skills, diagnostic skills, conceptual skills and interpersonal skills. The top level managers in the organization include, board of directors, CEOs, President, Vice-president, etc. These people have accurate vision of running a company successfully with the help of effective strategic plans, developing goals, company policies. They control the organization to make it reach the top level. Management collects 6 Ms under one roof, Men and women, Machines, Money, Materials, Markets and Methods.
Nature of Management: – In nature, management is result oriented arts as well as a science. Management is not about a single individual, it is the group activity. It also means getting the things done through people. The success or failure of the organization depends upon its management. Though management is an intangible thing, it makes its presence felt though positive or negative results depending upon how it is carried in the organization.
Management – A New Career Option: – Management is gaining a special place in students’ mind nowadays due to interesting career opportunities it provides to the students and the bright growth prospects. Students are carefully selecting from the top business schools. By clearing the entrance tests, students can enter in the new arena of management courses. Management courses in India are Master of Business Administration (MBA), Bachelor of Business Administration (BBA), Bachelor of Business Studies (BBS), Bachelor of Management Studies (BMS), Bachelor of Business Management (BMM) The management courses are structured for the streams like Human Resource, Finance, Marketing, Retail, Production, Planning, Information Systems Management, Construction, Operational Research, Logistics, etc. These days management courses can also be pursued online.
There are various management courses available in India. They include: -
- Business management
- Hotel management
- Event management
- NGO management
- Operations management
- Hospitality management
- Labour management
- Rural management
- Administration of Public Enterprises
- Personnel management
- Financial Portfolio management
The famous institutes for pursuing management courses in India are : -
- IIMs (Ahmedabad, Bangalore, Kolkata, Indore,etc)
- Jamnabai Bajaj Institute of Management studies, Mumbai
- IIT Mumbai
- Narsee Monjee Management Institute, Mumbai
- Institute of Management and Technology, Ghaziabad
- Symboisis Institute of Business Management, Pune
- S. P. Jain Institute of Management studies, Mumbai
- Xavier Labour Research Institute, Jamshedpur
- International Management Institute, Delhi
- Great Lakes Institute of Management, Chennai
- Faculty of Management studies, Delhi
- ISB , Hyderabad
Students have to appear for the entrance exams like CAT,MAT, SNAP, XAT and GMAT before taking admissions to these institutes.
As we observed there are many branches of management studies growing in the country, it proposes good career prospects to the students with lucrative job offers. We will see more and more rising of the opportunities in this field in the coming years.