careers in management field
TRANSCRIPT
Management
Management is the process by which we achieve desired results through efficient utilization of human and material resources. (Dedeian, 1993)
Careers in the Management Field
(With focus on areas that are beneficial to Finance and Accounting ) Human Resource Management (HCM)
Management Consulting
Entrepreneurship
General Management
Operations Management
Non-Profit Organization Management
Human Resource Management (HRM)
Human Resource Management (HRM)
The HRM 10 Professional Areas:1. Strategy insights and solutions2. Leading and managing the human resources
function3. Organization design4. Organization development5. Resourcing and Talent planning6. Learning and talent development7. Performance and reward8. Employee engagement9. Employee relations10.Service delivery and information
Human Resource Management (HRM)
The HRM 10 Professional Areas:
Human Resource Management (HRM)
No organisation can survive without Resourcing :
It deals with the aspect of recruitment and selection
Human Resource Management (HRM)
Learning and Development:
It is a continuous organisational activity aimed at improving the performance of all individuals in a company.
Human Resource Management (HRM)
3-Clusters 8 behaviors:I. Insights and influence
1. Curious2. Decision thinker3. Skilled influencer
II. Operational excellence4. Driven to deliver5. Collaborative6. Personally credible
III. Stewardship7. Courage to challenge8. Role model
Human Resource Management (HRM)
Skills and Competencies to acquire while in school:1. Write management professional exams and
trainings in that respect e.g. CIMP, CIPD, NIM, HRBP, etc.
2. Learn how to write and appraise CVs/Resume.3. Learn questioning, listening and attitude
skills, i.e. interviewing skills.4. Be familiar with abbreviations of trade unions.
Human Resource Management (HRM)
New HR Professional bodies:
Chattered Institute of Personnel and Development (CIPD)
American Society for Personnel Administration (ASPA)
Chattered Institute of Personnel Management of Nigeria (CIPM)
MANAGEMENT CONSULTING
MANAGEMENT CONSULTINGCreating a Solid Foundation for business growth and
developmentPossible Career Paths include:1. IT Consulting2. Financial Management3. Strategy and Operations4. People and Change5. Corporate Strategy and Business Planning
MANAGEMENT CONSULTING
IT ConsultingInvolves, enhancing and protecting the values of businesses with technological infrastructures.
It is regarded as a field of activity that focuses on advising organizations on how best to use information technology (IT) in achieving their business objectives. In addition to providing advice, IT consultancies often estimate, manage, implement, deploy, and administer IT systems on behalf of their client organizations - a practice known as "outsourcing”.
MANAGEMENT CONSULTINGIT Consulting
Competencies include:1. IT Strategy and Performance: Various goals such as the
following are to be achieved here: I. IT Strategy and ArchitectureII. IT Operations ImprovementIII. IT Portfolio and Program ManagementIV. IT Governance and Risk Management
2. IT Deal Services3. Enterprise Applications Solutions: Help for cost saving and
functionality improvement, solutions include:I. ERP Solutions: e.g. SAP Network, Oracle
Network, JDE Solutions, Microsoft Dynamics, etc.
II. Enterprise Content ManagementIII. Risk Technologies
4. Analytics and Information Management5. Emerging Technologies Network
MANAGEMENT CONSULTINGIT Consulting
Skills to acquire while in School:1. Do as many relevant computer and IT
trainings as possible.2. Work on your Competence, Compensation
value and Productivity.3. Write professional exams and trainings like
CISA, Project+, ACCA, ICAN, PMP, CCNA, ORACLE, Microsoft Dynamics Solutions, Networking, Microsoft Security Programs, etc.
MANAGEMENT CONSULTINGIT Consulting
Statement by World Leaders in IT Consulting:
MANAGEMENT CONSULTINGIT Consulting
Statement by World Leaders in IT Consulting:
MANAGEMENT CONSULTINGIT Consulting
Statement by World Leaders in IT Consulting:
MANAGEMENT CONSULTINGIT Consulting
Note: Financial tools to enhance the visibility and control
of an IT or management consulting organization are available, resulting in confident and smart decisions. All you need to while in school is to “get basic skills” and create a solid foundation.
MANAGEMENT CONSULTINGIT Consulting
Differences between IT Consulting and Management Consulting: There is a relatively unclear line between
management consulting and IT consulting. There are sometimes overlaps between the two fields, but IT consultants often have degrees in computer science, electronics, technology, or management information systems while management consultants often have degrees in accounting, economics, Industrial Engineering, finance, or a generalized MBA (Masters in Business Administration).
According to the Institute for Partner Education & Development, IT consultants' revenues come predominantly from design and planning based consulting with a mixture of IT and business consulting. This is different from a systems integrator in that you do not normally take title to product. Their value comes from their ability to integrate and support technologies as well as determining product and brands
MANAGEMENT CONSULTINGFinancial Management
Financial management refers to the efficient and effective management of money (funds) in such a manner as to accomplish the objectives of the organization. It is the specialized function directly associated with the top management. The significance of this function is not seen in the 'Line' but also in the capacity of 'Staff' in overall of a company. It has been defined differently by different experts in the field.
The term typically applies to an organization or company's financial strategy, while personal finance or financial life management refers to an individual's management strategy. It includes how to raise the capital and how to allocate capital, i.e. capital budgeting. Not only for long term budgeting, but also how to allocate the short term resources like current liabilities. It also deals with the dividend policies of the share holders.
MANAGEMENT CONSULTINGFinancial Management
The main objective of financial management is profit maximisation, i.e. when MR=MC.
To tread a career path here be ready to take risks and initiative in turning a loss making business to profit making one or transform a business with stunted growth to one with a steady growth.
MANAGEMENT CONSULTINGFinancial Management
Scope of Financial Management Estimating the Requirement of Funds: Businesses
make forecast on funds needed in both short run and long run, hence, they can improve the efficiency of funding. The estimation is based on the budget e.g. sales budget, production budget.
Determining the Capital Structure: Capital structure is how a firm finances its overall operations and growth by using different sources of funds. Once the requirement of funds are estimated, the financial manager should decide the mix of debt and equity and also types of debt.
Investment Fund: A good investment plan could bring business huge return.
MANAGEMENT CONSULTINGFinancial Management
Competencies include:1. Efficient Finance Operations2. Efficient Decision Support3. Finance Strategy and Transformation
Skills to acquire while in School:4. Read books on finance and financial management, i.e.
books beyond the class.5. Write professional exams and trainings like CIS, ACCA,
ICAN, NIM, CFA etc.6. Join finance clubs.7. Attend trainings on financial modellings and other
packages.8. Start managing your own finance (Personal Finance).
MANAGEMENT CONSULTINGStrategy and Operations
Competencies include:1. Customer and Growth2. Supply Chain and Operations3. Strategic Sourcing and Procurement4. Innovation and Engineering5. Operational Strategy
Skills to acquire while in School:6. Write professional exams and trainings like CIS,
ACCA, ICAN, NIM, etc.7. Read business reviews of financial and other
industries.
MANAGEMENT CONSULTINGPeople and Change
Competencies include:1. Behavioral Change Management2. Organization Design and Development3. HR Function Optimization4. Talent Development5. Workforce Cost Optimization
Skills to acquire while in School:6. Write professional exams and trainings like CIPM,
CIPD, NIM, HRBP, etc.7. Relate with people and develop strong social and
interview skills.
MANAGEMENT CONSULTINGCorporate Strategy and Business
PlanningCompetencies include:1. Corporate Strategy Planning2. Market Studies/ Feasibility Studies3. Business Planning
Skills to acquire while in School:4. Write professional exams and trainings like ICAN,
ACCA, etc.5. Collect, study and analyze business plans.
Entrepreneurship
Entrepreneurship
The Concept of Entrepreneurship:
Entrepreneurship is a term used broadly in connection with the innovative modern industrial business leader.
Entrepreneurship The 3-Clusters 10 Characteristics of an
Entrepreneur:I. Psychological Characteristics
1. High need for achievement and success2. Strong desire for responsibility and
independence3. High degree of self confidence4. Passion for experiments
II. Sociological Characteristics5. Goal oriented6. Adapt to changing situation7. Ability to organize money, men, materials
and machines to achieve goals
Entrepreneurship The 3-Clusters 10 Characteristics of an
Entrepreneur:
III. Economic Characteristics1. Profit Oriented2. Risk taking ability3. Ability to innovate and speculate
Operations Management
Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs (in the forms of raw materials, labor, and energy) into outputs (in the form of goods and/or services).
WHAT YOU NEED TO KNOW
I need you to understand that some of the practitioners of these various careers in the industries today do not have most of these paper qualifications at the start of their careers but there is a “paperless” qualification which they have which is STRONG DESIRE AND PASSION for their areas of interest. Also, part of it is their ABILITY TO THINK CREATIVELY.
If you know that you could be easily distracted by engaging in some of these things while in school it’s better you WAIT till you graduate or engage in effective planning to take some of these trainings during short and long holidays.
Just always bear in mind that OUTSIDE IS VERY VERY COMPETITIVE.
References
1. CIPD HR Professional Map Hires2. E-SAP Foundations HRBP Presentation Slides3. https://en.wikipedia.org/wiki 4. KPMG Services Offering (2014)5. NIM Exams study packs.6. Proviti IT Consulting Services Overview7. www.google.com
Note: If you have any question or contribution, please send it to [email protected]
Thank
You