Business Management

Business management deals with the process of organizing, analyzing, and planning various types of business operations.

What are the various disciplines in business management?

General Management

General management deals with the day to day activities and administrative functions of a business or organisation.

Strategic Management

Strategic management focuses on identifying the strengths, weaknesses, opportunities and threats of an organisation to formulate actionable plans in order achieve the firm’s objectives.

Information and Technology Management

IT management deals with the process of coordinating and directing all the day to day IT related operations of an organization.

Hospital Management

Hospital management deals with the day-to-day operations of a hospital including overseeing the staff (physicians, nurses and technicians etc.), policies, practices and finance of a hospital.

Sports Management

Sports Management deals with the administration, management, accounting, and marketing in the field of sports and recreation.

Human Resource Management

HR management deals with the formulation and implementation of policies regarding human resources. It also deals with supervising, guiding, directing and managing the department and the employees.

Main Admission/Entrance exams

Name of Exam Institutions Languages Application Period Exam Dates Website
Undergraduate - (UG)
Delhi University (Join Admission test- JAT) Colleges under Delhi University English May- June 3rd week of June www.du.ac.in/du/
IIM Indore (IPMAT) IIM Indore English March-April 2nd week of May www.iimidr.ac.in/
AIMA-UGAT (All India Management Association BBA Entrance Examination) Multiple Institutions English November- April 2nd week of May www.aima.in
Symbiosis Entrance Test (SET) Symbiosis Institutes English January- April 1st week of May www.set-test.org/
NMIMS NPAT Narsee Monjee Institute of Management Studies English January- April 2nd week of May www.npat.in/
Christ University Christ University English December- April Last week of april and 2nd week of May christuniversity.in//apply-online
GGSIPU CET Guru Gobind Singh Indraprastha University English February- May 4th week of May www.ipu.ac.in
Postgraduate - (PG)
CAT Admission to 115 B schools English August-September Last week of Novembe iimcat.ac.in/
CMAT Multiple institutions English November Last week of January www.ntacmat.nic.in
XAT Xavier institute of management English 3rd week of August January first week xime.org/eligibility-for-admission
MAT Multiple institutions English March-April May first and second week mat.aima.in/

What should you do to get admission into a good institutions at the UG level?

Stream to Choose at +2 level:

Although selecting a specific stream is not a prerequisite for admission into most of the bachelor degrees in management, it is obviously better to take the Commerce stream since it will help the student to have a better understanding of the subjects they will study later in college.

Subjects to focus:

Admissions to the top colleges and universities in this field are based on the aggregate score of a select number of courses at the plus two level. To get admitted to some colleges for specific courses, even a 95% score might not suffice. So students should try to score as much as possible in all their subjects. Students pursuing Commerce stream can focus on Business Studies, Accountancy and Economics which will help them during their higher education in Management field.

Some skills to acquire:

Communication, negotiation, numerical, analytical and organizing skills are essential to excel in the management field.

Special Point

Proficiency in multiple languages and interpersonal skills will be an add-on.

Scholarships

Name Eligibility Website
Undergraduate - (UG)
IndusInd Foundation Scholarship Students studying in undergraduate and post-graduate courses (full-time/part-time degree/diploma/ courses) who due to personal/family crises are unable to continue bearing the cost of education and are at risk of dropping out of school/college/university. www.indusindfoundation.com/scholarship.php
People's Foundation Scholarship Scholarship will be provided for regular courses in management studies. peoplesfoundation.org/portfolio-posts/educational-scholarship/
Gaurav Foundation Scholarship Must be an Indian and must not hold any other Countries Passport. Min. Age 17 years and Max. Age 35 years Min. 60% in all Exams (since school days) Must have completed 12th Class. www.gauravfoundation.org/scholarship.html
Dhirubhai Ambani Scholarship Awarded to a top few meritorious students who meets the following criteria as well
  • Student must not be above 20 years of age as on 30th April of the year he/she appears for the Standard XIIth Examination and his/her family income must not be more than Rs. 4.50 lakhs per annum. However preference will be given to those students whose family income are lesser than Rs. 2.50 lakhs per annum.
 www.reliancefoundation.org/education
Postgraduate - (PG)
Central Sector Scheme of Scholarship for College and University Students The scholarship is available to the student for first PG Degree only. Age limit for the students is 30 years at the time of admission to the PG course. Distance mode of education will not be considered under the scheme www.ugc.ac.in/urh/
Post-Graduate Indira Gandhi Scholarship for Single Girl Child for PG Programs Age limit: Girl students up to the age of 30 years at the time of admission in PG courses are eligible. The scheme is applicable to a single girl child who has taken admission in regular, full time first year master’s Degree course in any designated university or a post graduate college. This scholarship is available to PG I-year student only. www.ugc.ac.in/sgc/
Federal Bank Hormis Memorial Foundation Scholarships 2018 Batch Students applying for the scholarship should have secured admission under merit in Government/Aided and self-financing colleges.The annual family income of the applicant should be below Rs. 3 lakhs per annum. www.federalbank.co.in/scholarships
Nirankari Rajmata Scholarship Scheme
  • The applicant should be a regular student of any Institution/College recognized by Central/State Government, admitted through a competitive written test.
  • The income of the family from all sources, to which the applicant belongs to, should not be more than Rs.3.50 lakhs per annum.
 nirankarifoundation.org/nirankari-rajmata-scholarship-scheme-2018-19/

How does the future look like for business management?

Business management is a field that includes interlocking functions like planning, organizing and decision making in business related activities. With the beginning of the fourth revolution, this field would undergo drastic changes. All companies are trying to upgrade themselves to latest technology and improve their efficiency. Since this is a very competitive market, all companies are trying to bring in innovation wherever possible on their management strategies, like planning, organizing and decision making.

According to a report of the Economic Forum (2018), some factors like availability of big data, advancements in artificial intelligence and cloud technology would have a positive effect on business growth and development. These factors would enhance management practices and strategies. By 2022, according to a report, 85% of companies are likely or very likely to have expanded their adoption of user and entity big data analytics. So professionals in the field should be well prepared and equipped with the skills required to embrace the changes that this might result in. Even though technology is rapidly advancing, it has very little effect on the job prospects for medicine or health care practitioners. But the working environment would undergo changes as more technology will be incorporated in their work. Customised health care services will be provided to the patients and there would be huge advancements in diagnostic tools and scanning mechanisms. Methods like 3D printing of organs may also come into practice. More accurate diagnosis, prediction and prevention of disease is possible with the help of technology.

Other career areas a business management graduate can enter

Entrepreneurship

Entrepreneurship is a very good option for business management graduates. Unlike working in a company as a management professional, business management graduates who have acquired the required skills can actually set up a business on their own.

Hospitality and Tourism

A management graduate can easily enter into the field of Hospitality and Tourism. One can either do a general MBA and work in the field of Hospitality and Tourism or do an MBA with a specialisation in Hospitality and Tourism.

Finance and Banking

Management graduates are eligible to apply for finance and banking jobs and their closely related educational background gives them an extra edge in the job market.

Distribution & Logistics

Supply Chain Management in the field of distribution and logistics will be a suitable career option for Management graduates. It includes planning, handling, and managing goods and services. Careers in SCM are extremely diverse and the sector is continuously evolving with the needs of people and changing technology.

Sales and Marketing

Sales and marketing is a closely related field to business management. You would see that marketing and sales specialisations are offered in most of the MBA programs. So this is a field in which business management graduates can make an easy entry into.

Frequently Asked Questions

  • What is business management?
    As a business manager, you are given the major responsibility of managing administrative tasks for a business. A company may expect you to assist with its marketing program. A company may also want you to perform a budget analysis in order to find out ways that the company can cut costs. You should have an astute understanding of accounting, marketing and administrative procedures that are required in order to run a business. The competition for business management positions can be fierce. You should obtain a degree in business administration, accounting or marketing if you eventually want to obtain a business management position.
  • What is business process management?
    Business Process Management (BPM) is how a company creates, edits, and analyzes the predictable processes that make up the core of its business. Each department in a company is responsible for taking some raw material or data and transforming it into something else. There may be a dozen or more core processes that each department handles.
  • What jobs can you get with a business management degree?
    A business management degree prepares you for a career in business, which may stretch across any sector or industry. Your career options are therefore varied. Try to decide on the area you want to work in and aim to get relevant work experience. You can gain work experience at university through extracurricular activities, such as club membership or taking a role on a society that will develop your team-building, business or finance skills. You could also try to get a part-time job in an area related to your chosen career. Something that provides commercial skills or gives you knowledge in business functions and how organisations operate will be helpful.

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