Career Research Report
My future profession is Business Management. There are several reasons why I am interested in such a profession. First, business management offers one the chance to develop both as a person and as an employee. Managing other employees is an experience that enables one to learn how to interact effectively with other people and ways of managing conflicts. Additionally, it puts one directly responsible for the implementation of the organization’s objectives that ensure the overall success of the business.
As a result, I feel that a profession in business management can give me the opportunity to work together with other people in achieving certain goals. Also, in this profession, there are numerous career advancement options with the rapidly changing business environment especially with the developments in technology and ethical business practices. My research will analyze this profession with the aim of coming up with the key requirements and experience needed for one to practice it.
Trends in Business management
As trade expands, nations around the world are looking for more market opportunities for their products and services. As a result, trade barriers such as export and import taxes have been reduced or eliminated. Additionally, movement around the world has been made easier with the introduction of friendly immigration rules. The rise of China and India in the East has resulted in a level business playground by eliminating the West’s domination of world trade. Consequently, developments in one part of the world have the potential to affect the economies of other nations as demonstrated in the recent financial recession of the US.
Globalization has had an impact on the skills expected from college graduates who are looking to have a career in business management. Graduates are now expected to possess skills that can be applied anywhere in the world and not just their own countries. Many international companies are also devolving their managerial duties by having regional managers in every market/production location instead of the traditional practice of having a single and powerful business headquarter.
Technology has influenced the business environment in a great way. Business products are being designed and developed by people in different locations of the world connected to each other by the Internet. The whole process of production and manufacturing has been automated. Marketing is now done through websites and social media unlike the old newspapers, TV and magazines advertisement channels. Real-time communication has also enabled people to learn about new business ideas and innovations from other nations instantly.
These changes in technology have affected the business landscape by introducing new markets and increasing the level of global competition among companies. Besides competing, companies are also cooperating to ensure efficient and faster business services. For example, a foreign company can hire local labor managed by a local company instead of having to ship in its own workforce.
By having a deep understanding of human emotion, cognition, behavior and motivation, businesses are now developing products and services that are tailored to meet new and unrecognized needs of the consumers. Additionally, this has helped business to know how to attract and maintain employees with the right skills. Having knowledge about one’s skills and preferences has enabled businesses to match employees with the right jobs and that has greatly increased productivity at the workplace.
This trend of using psychology in business and management practices is fairly new. It can be considered as a future trend since the research on the topic is limited for now. Businesses are using psychology to measure and ensure customer satisfaction by studying their responses and reactions to the products and services offered by a certain company. Institutional psychology is also a relatively young field but is crucial in ensuring the success of the business goals.
With the developed communication channels brought about by technology, consumers are now involved in the pre-design of the products and services that they would like a certain company to offer them. Such kinds of initiatives form a strong bond between the company and consumers because they feel that they are part of the company and that their opinions are valued.
In addition to that, consumers feel that the products and services of a certain company are safe to use when the company allows them to participate in the design and production process.
Opportunities for Recent Graduates
There are several roles that a graduate can have in business management. Some organizations offer graduate programs that focus on training and development meant to bridge the gap between an academic setting and a real-world business experience. Some of these companies include Morgan Hunt [see attached advertisement].
For graduates who would like to get a formal job directly after school, the business world offers exciting career roles such as a Management Consultant or a Project Supervisor/Manager.
Advertisements for these job opportunities can be found on the Internet, newspapers and magazines, television and even radio. However, with the advancing technology, the Internet remains the leading mode of advertisement thorough websites and social media.
Skills, Knowledge and Experience
There are general as well as specific skills that are needed for success in landing a career in the business world. For example, a graduate interested in applying for the position of a project manager would require the following skills;
Critical/creative thinking and problem solving skills
Good management of time and resources
Excellent organizational skills such as planning etc
Strong attention to detail
And exceptional communication and interaction skills
The requirements stated above are the general skills. Of course, one needs relevant academic qualifications. The roles of the project manager in the organization include;
Implementing, monitoring, controlling and terminating a particular project
Coming up with practical schedules that can meet deadlines
Estimating the project cost and coming up with an appropriate budget
Team management and resourcing
Performing regular quality assurance checks
Risk management and mitigation in relation to a certain project
Since the research centers on a recently graduated individual, there are no specific years of experience needed at this stage. However, a post-graduate training and development program can be an added advantage.
There are several ways through which one can be selected or recruited for the position of project manager. For example, some companies monitor and mentor outstanding and promising students while in school in preparation for a role at the company upon graduation. Other companies offer graduates a training program before they can be considered for employment. These training programs are meant to instill specific skills to an individual in relation to the position being targeted.
There is also the traditional method of making a physical and written application letter for a job. Successful applicants are then called for an interview by the company recruitment officers and after that the best applicant is selected for the job.
Advertised Career Opportunity
A G15 Housing Association company is looking to include a project manager in their workforce. The project manager will be located either in East Sussex or Kent. The company is offering a competitive starting salary of $45000 per year and a car allowance of $1800 with options for further career development and promotion. He/she will be responsible for identifying untapped development opportunities and the overall management of various projects including drafting budget reports and overseeing the implementation process of day to day projects.
For one to land this job, he /she must possess some experience working in the housing sector. For a graduate, this experience can be acquired through voluntary work and internship opportunities in housing companies. The applicant should also possess knowledge of various legislations associated with buildings and construction. Additionally, he/she must understand issues related to land management and regeneration.
The advertisement is made available courtesy of Morgan Hunt, an employment and recruitment agency.
This research comes up with several findings in relation to careers in business management. It is evident that the business world is changing every day with the advancing technology and new trends. As such, it is important for me as a graduate to familiarize myself with all recent developments and possible future prospects for the business world so that I am in a position to satisfy all emerging requirements and skills necessary for a business profession. For example, it is essential to acquire computer skills that are in demand in the technology-driven business landscape such as computer programming and website design.
Additionally, it is necessary for me to familiarize myself with the requirements and qualifications for a profession in business management. This is because employers are not only looking for academic success but also personal achievements and characteristics that set one apart from all other graduates who did well in school. For example, I should work on cultivating and improving my communication, writing and listening skills. Additionally, I should engage in projects or events that can help me learn how to work effectively as a team. Being a leader of a team will also prepare me to effectively manage my colleagues at the workplace.
The advertisement document can be accessed at;