Management is a highly sought-after discipline in India and around the world, offering a plethora of employment opportunities for qualified individuals. As businesses continue to innovate and diversify across various economic sectors, the demand for talented and innovative management professionals has never been higher. In fact, the US Bureau of Labour Statistics predicts a 9 per cent growth in management occupations from 2020 to 2030, resulting in approximately 906,800 new jobs.
A career in management presents a wide range of opportunities for personal and professional development. By acquiring the right education and experience, individuals can cultivate the skills necessary to succeed in this dynamic field. From leading teams and making strategic decisions to navigating complex business environments, business management requires a diverse skill set and a commitment to lifelong learning.
A degree in business management, such as an MBA, PGDM, or MMS, serves as a solid foundation for aspiring leaders. Whether one aspires to become an entrepreneur, a corporate executive, or a community leader, a business management degree can help individuals achieve their goals and make a positive impact on the world. Moreover, a management career offers exciting and rewarding options, allowing professionals to take on people-centric roles, attain respectable positions in the workplace, and secure competitive annual salaries.
- Private equity
- Hedge funds
- Venture capital
- Investment Banking
- Human Resource Management
To thrive in the field of management, individuals need to possess a diverse set of skills. These skills include effective communication, strong leadership abilities, problem-solving aptitude, interpersonal skills, decision-making capabilities, strategic thinking, time management, financial management, change management, and flexibility.
Several prestigious institutions in India offer excellent management programs. The Indian Institutes of Management (IIMs), IBS Hyderabad, FMS Delhi, the management departments of IITs, SPJIMR, JBIMS Mumbai, NITIE, IIFT, and XLRI are among the top management schools in the country. Additionally, many private universities also provide management degrees, such as MBA and PGDM. The Common Admission Test (CAT) is the most popular entrance exam for admissions into the IIMs and other leading business schools in India. It is a computer adaptive exam conducted once a year. Other national-level entrance exams include CMAT, XAT, NMAT, SNAP, ATMA, and GMAT. The syllabus for CAT and most other entrance test includes Quantitative Aptitude, Logical Reasoning & Data Interpretation, Verbal Ability & Reading Comprehension. WAT and PI are the main selection criteria of IIM MBA admission. They are conducted after the CAT result announcement. Candidates who meet the CAT cut off, are shortlisted for WAT and PI. Final selection for IIM admission is based on candidate’s overall profile – CAT score, academic score, work experience, category and WAT and PI score.
- The Indian Institutes of Management (IIMs)
- IBS Hyderabad
- FMS Delhi
- The management departments of IITs
- JBIMS Mumbai
For those seeking international exposure, the Graduate Management Admission Test (GMAT) serves as the gateway to pursuing an international MBA or a Master’s in Management (MIM) from esteemed business schools worldwide. Leading international institutions like Harvard, Stanford, Wharton, LBS, MIT Sloan School of Management, HEC Paris, INSEAD Paris, BOOTH Chicago, and Yale offer renowned management programs. GMAT is accepted across the world, including the USA, Europe, Canada, Australia, Singapore, and other destinations. Institutes offering MIM programs also consider GMAT and GRE scores. GMAT syllabus comprises topics from the Quantitative, Verbal, Integrated Reasoning, and Analytical Writing Assessment sections.
Choosing the right business school can be a daunting task for students. Several key factors must be considered, such as return on investment (ROI), the range of programs offered, alumni network, international exposure, placement statistics, MBA scholarships, rankings and accreditation, and the quality of faculty. Completing the application form is another critical step in the admission process, requiring dedicated time and attention. To stand out from the crowd, applicants must emphasize their unique attributes, interpersonal skills, experiences, and how they align with the objectives of their chosen study program.
Management professionals from India are making a significant impact globally, with many holding CEO positions in top Fortune 500 companies. Prominent examples include Sundar Pichai, Parag Agarwal, Satya Nadella, Leena Nair, Indira Nooyi, Shantanu Narayen, Arvind Krishna, Vasant Narasimhan, and Reshma Kewalramani.
Management presents a challenging and rewarding field where Indian professionals are leaving their mark worldwide. With a wide range of career options, excellent educational institutions, and global opportunities, aspiring managers can carve out successful and impactful careers. By acquiring the necessary skills, pursuing advanced degrees, and exploring diverse industries, management professionals can become the leaders of tomorrow, shaping the business landscape and contributing to the growth and development of society.