1. Role of Business Management Professionals Across Various Industries
Business management professionals lead the company’s operations and carry out other managerial tasks. Their role is vital across various industries as they help with strategy and execution and oversee the whole team. The role of a business management professional is dynamic, cuts across sectors, and may have different titles depending on the field.
A business management professional is in charge of growing the business. From identifying employee beneficial strategies, managing teams, building partnerships, and examining market trends, sales, etc. the business manager must do it all.
2. Emerging Trends and Challenges in Business Management
The introduction of revolutionary technology has fundamentally altered the way businesses work. Adapting technology in business decisions is one of the top emerging trends in the field. It has led to massive innovation and improved methods of conducting business efficiently. Moreover, the focus is now on environment-friendly advancements in the industry. According to a survey, the green technology and sustainability market is expected to grow significantly, from USD 11.2 billion in 2020 to USD 36.6 billion in 2025. Several businesses are getting used to this trend through renewable power sources, smart buildings, etc.
Furthermore, blockchain technology is also gaining prominence as businesses are integrating it. The last few years have seen the rise of gig workers, and it is going to increase further and is essential for companies to function. As per a survey by BCG Henderson Institute, gig work has gone up by 30% in developing countries.
This field has several challenges as it involves management on a large scale. One of the critical challenges is the skill gap for both; managers themselves and their employees. There is a constant need to upskill or reskill to keep up with industry trends. Financial hurdles are also prevalent as businesses expand and incur costs.
Moreover, leadership, communication, and performance under pressure challenges emerge while dealing with several team members.
Key points:
- With technological advancements and the constant shift in priorities, businesses have recognised the significance of good management. The role of the business manager is dynamic, cuts across sectors, and may have different titles depending on the field.
- The field of business management has several challenges. One of the critical challenges is the skill gap between the skills business management professionals need to acquire in for future roles.
3. Careers in Business Management
The business management field is rife with opportunity as it plays a pivotal role in the company. As discussed earlier, it is significant across industries and has plenty of career options. The average business manager salary in India is ₹10 lakhs per annum.
Popular career choices after you earn a professional certification in Business Management:
- Business Adviser
- Business Analyst
- Business Process Analyst
- Business Development Manager
- Supply chain manager
- Management Consultant
- Actuarial Analyst
- Corporate Investment Banker
- Arbitrator
- Data analyst
- Forensic Accountant
- Stockbroker
Whether you work for a small firm or a large corporation, a degree in business management is a must-have to cater to a number of job profiles that are out there.
4. How ExEd Can Help Professionals Build a Career in Business Management
Executive Education is increasingly becoming a popular choice amongst professionals who wish to upskill or reskill themselves. It is a testament to the idea of lifelong learning where mid to senior-level professionals can return to a classroom-like setting and pursue a course. Additionally, it boosts career growth while also helping create a network of professionals in the relevant field.
IIM Kozhikode’s certificate programme in business management is designed bearing in mind the influence of technology on business operations. The curriculum also entails teaching soft skills required in this field, such as leadership, negotiation, persuasion, teamwork, and people skills. Moreover, it encompasses innovative assessment components such as case studies which promote analytical and conceptual thinking which can be applied to real-life scenarios in management.
IIM Kozhikode’s Professional Certificate Programme in Business Management is mainly conducted online with campus immersion at the end of the programme. With top-notch faculty in tow, the programme offers a diverse curriculum and an advantage associated with a prestigious alumni status
To know more: https://timestsw.com/course/iim-kozhikode-professional-certificate-programme-in-business-management/
