10 ways how MBAs shape leaders In today’s automation and transformative innovation world, an MBA can advance your career from the conventional way of functioning to the fast-paced industry and would skill you to assist firms in adapting to transition and achieving objectives that complement and align all organisational contexts. This specialised master’s degree programme provides excellent employment options across many industries upon completion. Students gain real-time exposure to the professional world thanks to the on-the-job training offered in this 2-years degree programme. Along with providing in-depth information in finance, accountancy, economics, marketing, and human resources development, an MBA degree also trains students in business-related skills like networking, leadership, communication, problem-solving, and sales and marketing. Many B.Tech, BBA, B.Com, BA, B.Sc., and BCA graduates today choose to pursue an MBA after graduation because it is a requirement for most top managerial jobs across all industries and domains. The range of an MBA expands as more specialisations in areas like marketing, international business, and analytics are added. Will an MBA give a career boost? Studying an MBA emphasises the current trends in global business, implements management solutions and teams, and enhances corporate partnerships and workgroups. It is a fantastic technique for comprehending the dynamic business environment. The skills you pick up while studying for this degree are inescapable. The possibility of choosing from many specialities is among the significant advantages of an MBA. This is one such reason as to why an MBA graduate salary is high in current Indian market Following are some examples of the most common MBA specialisations: Finance International Business General Management Operations Management IT Management Advertising Human Resource Management Event Management Business Analytics An MBA graduate’s average salary in India is about INR 2,90,000 per annum. However, the compensation structure is influenced by several variables, including university placement, academic standing, job description, abilities, and many more. Is the MBA programme a launchpad to leadership positions? An MBA can be an excellent springboard for aspiring business people. Considering that we live in a time of intense competitiveness in both the corporate sphere and the job market, one needs to be endowed with managing talents and leadership attributes to offer value to the business in numerous ways. Knowing how to run a business will benefit if you are an expert in a particular industry. An MBA degree is essential for starting a business or changing careers. However, earning an MBA has benefits beyond simply helping you begin a new profession. An MBA can help you succeed in your work, build your network and become a better leader. Also, the benefits of an MBA degree to a company are immense. The following are some advantages of an MBA: Better Career Possibilities Higher Salary Establishing Industry Network Building Management Skills Developed leadership skills Global Business and Economic Exposure Building entrepreneurial skills Education in Life Skills Access to an alumni network Possibility to Connect with Subject Matter Experts ALSO READ: How can an online MBA degree help you? Here’s how MBA nurtures future leaders An MBA can teach much about leadership, but your education shouldn’t end there. Giving employees the chance to grow at work is required for educating tomorrow’s leaders, and all organisations should prioritise doing that. Let’s examine a few ways that an MBA benefits aspiring leaders. Boost confidence An MBA degree exposes a learner to a modern paradigm where experts from many industries are breaking new ground. It increases their confidence in their skill sets and aptitude and helps develop a more assertive attitude and image. An MBA qualification and expertise are cognitively challenging and undoubtedly assets in achieving confidence. Experiential learning with case studies and projects Experiential learning is combined with a strong emphasis on case studies and practical learning in today’s MBA programme. They include more hands-on projects and situational constraints that educate conceptual and operational applications of theories. As a result, the exposure you receive from these experiences will aid in developing an MBA student’s foresight and business forecasting skills, which are necessary for a competent leader wishing to advance up the career ladder. Comprehensive curriculum with up-to-date content The MBA programme curriculum has been updated to give you a more individualised experience with increased flexibility and choice to represent and assist participants who are becoming more varied and have original aims and aspirations. The MBA programme equips students with the tools they need to drive progress in both business and society. Critical talents, including leadership effectiveness, critical reasoning, creativity, and communication abilities, are among the things it aims to foster. Many business schools provide courses like Visualisation Techniques for Business Intelligence, Advanced Analytics, Design Thinking for Abstract Reasoning, etc., that are essential for fulfilling the requirements of present and developing job profiles. Emphasis on employability skills Employability abilities are required for MBA students to land their first job. These abilities include effective communication, interpersonal interaction, problem-solving, subject knowledge, competence, decision-making, learning, etc. Employers place a high value on employability skills since they see them as indicators of how well you get along with coworkers and clients and how well you will manage your work performance and professional achievement. Improves social skills Leaders are renowned for their speaking abilities; they must have strong interpersonal skills and give speeches that inspire their team to collaborate for a common objective. An MBA degree is very beneficial because of the inherent focus on fostering hard and soft skills and abilities. MBA students are obliged to participate in extensive soft skill development programmes where they receive correct instruction on everything from how to dress to how to eat and start a conversation. These abilities aid applicants in creating a positive social character that endears them to their coworkers and peers and makes them respectable and likeable. Focus on innovation Learning the skills of innovation and originality is essential in a society where countless options are available for even the most necessities. The importance of innovation is taught to future leaders through MBA programmes that encourage students to use their creativity while completing assignments and submitting work. These programmes also assist students in building upon their foundations to develop ground-breaking solutions for their corporate endeavours. Instils social responsibility A growing range of customers is now evaluating an organisation’s trustworthiness based on its environmental and social effects. As a result, successful leaders should be socially conscious of their impact on the environment, team, and the neighbourhood. The significance of social obligation is further demonstrated because most MBA programmes also offer a special major in sustainability studies. Students gain knowledge of sustainable and environmentally friendly business practices. Attention to entrepreneurship The MBA programme also develops influential leaders by teaching them entrepreneurship competencies. Every leader is an entrepreneur in some capacity; if not operating a company, then managing it on account of the administration and stakeholders. Because of the various courses and specialities in the MBA programme, one learns how to improvise, juggle, and become independent, as well as how to oversee personnel and company practices from start to finish. Build a sense of teamwork Leadership is about empowering folks to discover ways independently, not possessing all the answers. A leader must maximise individual potential, lead diverse teams, and foster exclusivity. Students from various backgrounds are forced to collaborate while pursuing an MBA. Candidates can develop the crucial soft skills—communications, emotional maturity, and teamwork—that employers typically seek through this experience. Strategic thinker A leader may need to use strategy, planning, and narratives to pull a company out of a problematic predicament. Another area where an MBA produces influential leaders is this one. Students pursuing an MBA are continuously encouraged to study, conduct research, and develop original answers to challenges that arise in daily life. They can approach a single issue from various angles, broadening their thinking. How can you make the most of an MBA? An MBA is a significant financial commitment, so you want to get the most value possible from this programme. Earning an MBA is a unique experience that requires different training and abilities. These are a few tips to make the most of your MBA experience: Create a financial strategy Concentrate on the entire MBA experience Network everywhere and anywhere Be proactive while pursuing your MBA Adapt your career objectives as you get further Try to get as many internship opportunities as you can Avoid being intimidated Be a future leader with an online MBA from Online Manipal An online MBA programme offered by Manipal University, Jaipur, will equip you with the skills necessary to lead successfully in today’s dynamic society. With various new-age electives, such as Finance, Marketing, HRM, Analytics & Data Science, Retail Management, BFSI, IT & FinTech, and Operations Management, you can specialise in learning valuable skills required in the job market. Improve your professional skills at your convenience from reputable faculty and even take online tests with proctors from the comfort of your home. The total course fee for an online MBA program is around INR 1,50,000. Governments, businesses, and institutes of higher learning frequently accept MUJ’s online degrees for employment, further studies, and future chances. The faculty comprises seasoned professionals who are authorities experienced in their specialities. They increase the usefulness of real-world knowledge and empower you to forge your course for success confidently. The instructional methodology incorporates real-world case studies to strengthen and expand your critical thinking abilities. Conclusion Finally, developing into a successful leader is more of an innate trait than a learned one. Although an MBA significantly improves a person’s ability to lead, success in this area also depends on the individual. This practice is further aided by developing a focus on self and being persistent with your ultimate objectives. Take some time to think and evaluate your strengths, shortcomings, and ambitions, which can help you develop your leadership potential. An MBA programme must be completed with appropriate guidance for it to be worthwhile. Enrol in the online MBA course offered by Manipal University, Jaipur, to become a better leader and learn industry management skills. This programme aims to position participants for prospective leadership positions. So hurry and sign up for this course to advance your career.
Top trends in the supply chain management industry Key takeaways: The biggest trends in supply chain management that are related to its automation with AI and blockchain. Supply Chain Management tries to eases the entire journey of products and goods – from production to delivery. What is Supply Chain Management aka ‘SCM’? The supply chain management (SCM) is used to manage the entire supply chain of a business. It is used to track and monitor a product’s entire lifecycle from its manufacture to its delivery. The SCM software tracks the movement of products throughout the supply chain and enables a company to monitor the quality, quantity and time taken to deliver each product from one point to another in the supply chain. It also helps manage orders, inventory, suppliers, distribution centres and customers. There are many types of SCM software available in the market today, but some are better than others when it comes to providing solutions for specific industries such as manufacturing or retail etc. The most common type of SCM software you will find today is enterprise resource planning (ERP). This type of system has been designed specifically for large organisations with multiple departments involved with different aspects of running an organisation like sales, accounting etc. The technology in supply chain management is a series of links between the suppliers, manufacturers and customers. It includes all the processes involved in moving products from one place to another and requires warehousing and distribution of goods. The main focus of SCM is on maximising customer satisfaction by improving quality, reducing costs and improving service levels. This can be achieved through better collaboration between all departments within a company and between different companies involved in the process. Some benefits of good supply chain management include: Improved customer satisfaction through increased availability of products at competitive prices Reduced inventory levels due to better forecasting techniques which leads to lower carrying costs Reduced downtime due to better maintenance planning which results in fewer unexpected breakdowns leading to lost revenue 10 future and current trends in supply chain management TrendsDescriptionLast-mile delivery solutionsLast-mile delivery solutions are one way SCM is helping businesses solve problems they didn’t even know they had—and they are making it easier than ever to get your product where it needs to go.Industry 4.0 and SCMTracking goods from their source through production, delivery, and end-use provides manufacturers with invaluable insights into their supply chains. The rise of e-commerceWith the advent of e-commerce, companies have started selling their products online, which has helped them reach out to a larger audience than ever before.Advanced analytics and automation for inventory and deliverySupply Chain Management (SCM) has generated advanced analytics and automation for inventory and delivery with its technological impacts.Digital supply chainsSCM has enabled companies to manage their supply chains digitally through applications such as ERP, MES, WMS and MRP. CybersecuritySCM systems are often targets for hackers who want to steal that information and sell it on the black market or use it for their own purposes.Net-zero Supply ChainsSCM has generated net-zero supply chains by leveraging technology to make communication between all members of an organisation more efficient.Raising ESG standardsWith the effects of climate change and other environmental concerns, companies need to be able to understand their supply chains and know how they can improve the ecology.Localising the supply chainSCM has allowed companies to become more flexible in their production and distribution processes.Using crowdsourced delivery and multiple logistics partnersIt is not just that companies are using crowdsourced delivery, which is certainly a big part of it. They are also using multiple specialised logistics partners to deliver products. And this has led to some pretty amazing technological impacts on the industry. Supply chain management, or SCM, is an extensive field. It is not just about handling supply chains for different companies—it includes everything from inventory management to customer service to logistics. It is also one of the fastest-growing fields in business, with a projected growth rate of 8.6% through 2022. SCM has changed a lot over the years. For example, in the 1990s and early 2000s, companies were focused on getting their technology in supply chain management set up so they could get products out quickly and efficiently. But now, we are seeing a shift toward ensuring that the entire process is as environmentally friendly as possible. This means using sustainable materials, reducing waste during production, and ensuring that all products are safe for consumers. New technologies like blockchain can help companies get data from multiple sources in real-time and track down problems before they happen; artificial intelligence can help companies make better decisions about how best to manage their technology in supply chain management, and big data analytics can help them understand how their customers interact with products at every stage of their lives (from buying them to using them). Industry 4.0 and SCM You’ll first notice that there are more ways than ever before for companies to get their products to market. This means more competition and more opportunities for your business. It also means that you need to ensure that your business is set up so that it can take advantage of these opportunities when they come along. The impact of SCM on the industry has been nothing short of revolutionary. The technological advancement in the field has made it possible for manufacturers to work more efficiently, which has led to lower costs and greater profits for companies across all industries. In addition, tracking goods from their source through production, delivery, and end-use provides manufacturers with invaluable insights into their supply chains. They can use this information to make better decisions about where they buy materials and how they ship goods—which can lead to more efficient processes and more satisfied customers. The rise of e-commerce With the advent of e-commerce, companies have started selling their products online, which has helped them reach out to a larger audience than ever before. This trend has also increased competition among companies trying to win over customers’ hearts by providing them with better services and products at affordable prices. E-commerce has made shopping more accessible and convenient for buyers by providing them with different payment options, such as credit cards, debit cards, etc., along with easy returns policies that ensure customers are satisfied with their purchases. With the help of technology, companies have been able to track their sales performance on an hourly basis which helps them understand what their customers want from them and how they can improve their business strategy accordingly to cater for those needs. Advanced analytics and automation for inventory and delivery Supply Chain Management (SCM) has generated Advanced analytics and automation for inventory and delivery with its technological impacts. The SCM technology has been a boon for the supply chain industry because it efficiently manages the entire supply chain process. The technology used in SCM mainly focuses on improving the entire process’s efficiency, including inventory management, procurement management, transportation management, order management and customer service management. The warehouse management systems have been an important part of any supply chain programme since they help companies manage their inventories efficiently by identifying their needs and keeping track of their current inventory levels and customer orders. The warehouse management system also helps companies keep track of items received from suppliers or vendors so they can be sent to customers according to their order requirements. The advanced software used in these systems also allows companies to reduce manual processes by automating certain tasks like ordering supplies or ordering products from vendors. Digital supply chains Supply Chain Management (SCM) is the core of any company’s success. The role of SCM is to ensure that the right products are delivered to the right place at the right time, at a minimum cost. The supply chain management system has been undergoing many transformations since its inception. It has enabled companies to manage their supply chains digitally through applications such as ERP, MES, WMS and MRP. This makes it easy for them to track every aspect of their business process, from order placement to delivery. The digital SCM systems also reduce costs by automating manual processes and speeding up delivery times by using robotics or artificial intelligence (AI). Another advantage of digital SCM systems is that they can be accessed anywhere, anytime from any device, including smartphones or tablets. This means that employees can access information about orders or products anytime from anywhere without travelling long distances between locations, which saves time and money for both employees and employers. Want to master the concept of SCM with the latest knowledge, have a quick look at Online Manipal courses. Cybersecurity On the surface, it might seem like the future of supply chain management (SCM) is only about things like inventory and logistics. However, the truth is that SCM has generated a whole new area of cybersecurity with its technological impacts. It involves collecting and storing sensitive data such as credit card numbers, employee information, and other information about customers or partners. Because of this, SCM systems are often targets for hackers who want to steal that information and sell it on the black market or use it for their own purposes. Net-zero Supply Chains The supply chain management industry has rapidly evolved over the past five years, and it is not hard to see why. Supply chains are complex and ever-shifting, and as businesses try to keep up with the demand for faster turnaround times and more customised products, that complexity will only grow. SCM has generated net-zero supply chains by leveraging technology to make communication between all members of an organisation more efficient, because of which, you can save time and money while still getting your products out on time. Raising ESG standards Supply Chain Management (SCM) has been a focus for many companies in recent years. With the effects of climate change and other environmental concerns, companies need to be able to understand their supply chains and know how they can improve them. It also looks at how these processes impact society as a whole, including things like workers’ rights issues and environmental concerns such as pollution levels around the world where different kinds of manufacturing processes take place, such as factories located overseas where labour costs are cheaper. Localising the supply chain SCM has allowed companies to become more flexible in their production and distribution processes. In the past, companies were limited by the number of suppliers they could use and the distance those suppliers could be from their factories. Now, with just-in-time manufacturing techniques, companies can produce products locally using local materials and local labour. This has led to increased competition between companies for local suppliers and increased competition between countries for multinational businesses. However, it also means that there are fewer jobs available for humans in these areas, which can cause unemployment problems within communities that rely heavily on those jobs (eg., truck drivers). SCM has led to an increase in global trade, which gives consumers access to a wider variety of products at lower costs than ever before! But this can also lead to less diversity within communities as people tend not to buy local goods when they can get something better. Using crowdsourced delivery and multiple logistics partners One of the most interesting things about SCM is how it has generated an entirely new approach to logistics and supply chain management. It is not just that companies are using crowdsourced delivery, which is certainly a big part of it. They are also using multiple specialised logistics partners to deliver products. And this has led to some amazing technological impacts on the industry. For example, many companies are now trying to use drones to deliver their products to customers. This has created a whole new industry around it, with drones, manufacturers and pilots being hired. It has also led to an increase in demand for apps that help companies track their deliveries to ensure everything goes smoothly from start to finish. Another important development is related to software—specifically, software designed for managing logistics operations at scale. These software systems have enabled companies to manage all aspects of their role of information technology in supply chain management from one place instead of having separate software for each part of the process. This makes it easier for them to keep track of everything going on within their organisation, so they know what needs improvement or updating next time! Last-mile delivery solutions Supply chain management (SCM) has been a buzzword for over a decade. The technology helps businesses keep track of their supply chains from manufacturing to product delivery, and ensure that every part of their business is working as it should be. But what does this mean for you? Last-mile delivery solutions are one way SCM is helping businesses solve problems they didn’t even know they had—and they are making it easier than ever to get your product. This is especially important if you’re a small business owner or entrepreneur specialising in providing products and services that need to be delivered directly to the customer’s doorstep. In fact, many companies have found that this type of delivery is more cost-effective than shipping via traditional means such as trucking companies or freight trains. It is easy to see why—why pay someone else when you can do it yourself? And with SCM technology at your disposal, getting your product delivered means tapping into a wealth of information about how best to accomplish this task without breaking the bank or risking damage during transit. Conclusion The automation era is coming in supply chain management. It will be easy for SCM organisations to decide which system to automate. Today the capabilities of the systems are so wide and complex that the decision process may take weeks or even months. In the end, most expect that in 2022 organisations will have a few different automated processes running. The biggest challenge will be to integrate these systems properly and run them in a very well-planned manner. This is still not easy since all systems have been designed and developed separately. As a result, all processes are running further independently from the other systems today. And integration would take extra time and effort if the new system is going to be the next upgrade. Want to know more? Enrol in Postgraduate Certificate Programme in Logistics & Supply Chain Management at Online Manipal for a better understanding and boost your career.
How to become a marketing manager in India? Marketing encompasses a wide range of responsibilities for a firm, from product and service promotion to data analysis and expansion strategies. Marketing managers are critical in assisting a company in promoting and selling its products to clients. Their responsibilities span the entire continuum of how a firm interacts, so they can manage and impact how a brand appears and performs in the marketplace. Read this post to learn how to excel as a marketing manager and develop your skills in this fast-paced field. Let’s start with the basic query, ‘What is Marketing Management?’ What is marketing management? Marketing management is a notable profession because marketing has the potential to have a dramatic effect on every aspect of a company and how it runs. The marketing department’s primary purpose is to create novel approaches to generating revenue, bringing in clients aligned with technology’s fast-paced emergence, and optimising and modernising old marketing tactics. To be successful as a marketing manager, you must have a brilliant imagination and an in-depth understanding of your industry. It is a professional path open to everyone at any stage of their career, and marketing managers can earn significant compensation. Marketing roles abound for those looking to advance fast, with salary and perks rising with seniority and responsibility. Marketing management is a rewarding job choice since it is a high-paying, creative career with immense scope for growth. Marketing manager as a career: Quick facts ParticularsDetailsIndustryMarketing and SalesEligibilityUndergraduate or postgraduate degree in a relevant fieldAverage SalaryINR 10,00,000Job opportunityBusiness firms, Advertisements agencies, Market research companies, Government Institutions, and Banking Institutions. Marketing manager as a career A marketing manager’s job entails supervising the marketing strategy and implementation for a company or its products and services. Using smart, modern marketing techniques, marketing managers help increase brand recognition and draw new clients to the business. They often devise a plan to improve the company’s current customer service and ensure that any money spent on marketing initiatives yields a satisfactory return for the organisation. Thus, they plan and execute marketing programmes to enhance service, product recognition, and consumption. The role of a marketing manager encompasses a wide range of tasks, such as Design, management, and evaluation of promotional initiatives Managing the interaction strategy on social mediaOptimising marketing campaign budgetsWorking together with the marketing and creative divisionsExamining print and digital advertising materialsPutting together advertising contractsConducting market research to identify growth avenuesManaging staff in the marketing divisionPerforming market research and analysing market dynamics Role of a marketing manager A marketing manager’s roles and duties differ significantly based on the business they work for and the sector they function within. There are various types of marketing managers, but they all have the same basic responsibilities. The following is a list of the high-level duties for which they may be accountable. Putting the strategy into action Marketing managers implement a strategic blueprint for achieving and maintaining a competitive edge in the marketplace. They assist in implementing this strategy through marketing roadmaps and prioritised action plans. Developing campaigns and programmes Every organisation aims to create and design game-changing marketing campaigns. Marketing managers are in charge of planning and ensuring that creativity and content align with the company’s vision and mission. Managing content Marketing managers can create a content strategy and an editorial schedule that aligns with corporate goals. They may produce blogs, edit ad copy, craft advertising collateral materials, try to boost SEO results, and assess each piece of information to make sure that it reflects a clear idea and tone. Organising events Many marketing managers work closely with event planners and producers. The scope of marketing in such instances can range from large-scale product releases and conferences to smaller-scale initiatives like webinars. External communication management To endorse the company’s message, marketing managers establish contacts with the media. They frequently interact with people outside the firm, such as suppliers, collaborators, or advertising companies. Bringing together cross-functional teams Marketing managers provide cross-functional management. They bring everyone up to date on marketing strategies and are the go-to people for any branding issues or concerns within the company. Assisting with sales Marketing managers are frequently involved in the sales process, including creating educational materials to educating sales staff on how to better guide consumers through the purchasing journey. Marketing data analysis Marketing managers handle data and statistics daily, analysing all the information and preparing reports. They search for methods to strengthen their efforts and engage with potential clients more effectively. They may also assess competitors and accumulate and disseminate information about industry trends. Key skills of a marketing manager A marketing manager needs to have a wide range of skills, including business administration, innovative thinking, and problem-solving. However, regardless of their specific function, all marketing managers must stay current with the latest technologies, services, and advertising platforms. This allows them to develop novel ideas, discover new channels, and produce content that resonates with clients regularly. A marketing manager’s qualifications should be a balanced combination of soft skills and technical skills. Key soft skills for Marketing Managers Interpersonal abilities Interpersonal skills enable marketing professionals to get the most out of their relationships with coworkers, other departments, and individuals from outside their companies. Creativity When it comes to working with challenges, marketing professionals must be inventive. They must come up with innovative ideas and develop effective marketing strategies. Communication and organisational skills Strong written and conversational skills enable marketing managers to interact successfully with others. These abilities aid in the communication of the most efficient concepts in marketing initiatives. Marketing managers rely on organisational abilities to set targets and oversee their schedules effectively. Key technical skills for Marketing Managers Media production Marketing managers handle all types of promotional strategies and resources. They must be familiar with a variety of media production forms, including internet marketing, video production, and multimedia layout. Technological competencies Marketing managers must have technical expertise in using CRM software. They also work with a variety of databases and websites. Skills in research Marketing experts can use research skills to uncover customer preferences. These abilities enable marketing managers to devise marketing intelligence tactics and assess the results of other people’s investigations. Skills in sales Marketing managers benefit from sales skills because they can better grasp the interactions that exist between businesses and their customers. Sales strategies are also used by managers to effectively target their potential customers. Pros and cons of becoming a marketing manager Listed below some of the pros and cons of becoming a marketing manager. Pros of becoming a marketing manager Industry-standard remuneration packageA creative and challenging work atmosphereA wide range of career opportunitiesA lot of opportunities to improve talents and skillsA flexible and fruitful career trajectory Cons of becoming a marketing manager The industry is popular and hence there’s competition Marketing managers are constantly busy Unless managed tactfully, a marketing manager can end up feeling overwhelmed Marketing manager roles Marketing is an interesting topic, and it has long been a favoured career option for several youngsters from different backgrounds. With so many marketing job paths to choose from, there is bound to be something for all, from the creative to the data-driven and analytical. We have compiled a list of the top in-demand, up-and-coming work opportunities accessible right now, both at big firms and in agencies, to give you an idea of what you can do if you want to dive into the expansive professional field of marketing. Brand managerProduct managerAccount managerDigital marketerInbound marketerSocial media managerMarketing copywriterMedia plannerPublic relations officer (PRO)Events managerGraphic designerMarket researcher Scope of marketing management Marketing is a vast field, which is why when we go one level deeper, we realise the scope of marketing is enormous. There was a time traditional marketing used to be concerned solely with selling goods and services. It has broadened its scope to include activities ranging from generating leads, educating prospective customers, client delight, and managing client relationships. The scope of marketing management includes: Study of consumer wants and needsStudy of consumer behaviourProduction planning and developmentPricing policiesDistributionPromotionConsumer satisfactionMarketing control Salary of marketing managers Salary is a key indicator of job advancement and development. As you gain more experience in the marketing field, your salary is bound to increase. The following is a breakdown of the income range available to Marketing Managers: Level in organisationSalary (INR in lakhs)Entry-levelINR 2-10Mid-careerINR 3.5-12ExperiencedINR 4-15Late-careerINR 6-25 How can I become a marketing manager? Continue reading to find out how to become a marketing manager. The steps below illustrate a pathway that a professional aspiring to become a marketing manager would find useful. Step 1: Earn a bachelor’s degree A bachelor’s degree in business, marketing, advertising, communications, or a related discipline is the minimum educational qualification for a Marketing Manager. Many employers may require an MBA. To further strengthen your skills and demonstrate your commitment to your professional development, you should work in a management or ongoing training programme at a business institution. Step 2: Acquire experience Getting internships is a brilliant method to learn about a business and get experience. Use your marketing internship to gain as much practical exposure as possible. An internship can also be a good way to network and build important contacts in the business, which can help you find a job in a relevant department later on. Step 3: Look for an entry-level marketing position Unless you have an MBA, getting employed as a marketing manager can be difficult. Spend a few years in a lower-level marketing position, such as Marketing Assistant, Advertising Assistant, or Sales Representative, to build your skills from the ground up and get the experience required to advance to Marketing Manager. You can make your case for being promoted to Marketing Manager once you have adequate experience by demonstrating how you have benefited the business. YOU MAY ALSO LIKE: A guide on how to get a job in the marketing sector Step 4: Hone the skills you need Marketing managers are excellent communicators, salespeople, and presenters. They must be innovative and capable of juggling multiple projects simultaneously. It’s also vital to have an in-depth understanding of current marketing trends. Marketing managers must possess strong leadership qualities and the competence to hire, train, and encourage employees. On-the-job education in an entry-level role is the greatest way to learn marketing manager abilities. Step 5: Join a trade group for marketers. By joining a professional marketing organisation, you can stay up to date on the newest industry advances, methods, and technologies. You can also use the opportunity and platform to network with other professionals. Courses in marketing management After completing your 10+2, you can choose to concentrate on marketing management if you are certain that you want to pursue a degree in this field. There are two types of courses available beyond the 10+2 level: diploma courses and undergraduate courses. The key distinction is the time required to complete the course. Let’s look at some of the different marketing management courses available: Diploma in marketing management The goal of the Diploma in Marketing Management is to provide candidates with basic knowledge and skills in marketing. This course lasts for one year. Undergraduate courses in marketing management BA/BBA are undergraduate-level courses in marketing management. Private colleges and universities award the BBA degree, whereas state universities like Delhi University typically offer BA degree courses. This programme has a three-year duration. Postgraduate courses in marketing management MBA and MA programmes in marketing management are postgraduate degrees. The marketing management specialisation is usually available in the second year of an MBA programme. Some MBA programmes also include full-fledged marketing courses. The postgraduate programme lasts for two years. READ MORE: MBA marketing course syllabus Doctoral Course in marketing management The Ph.D. in marketing management is a doctoral-level programme in marketing management. At this level, niche themes are picked that can contribute to academics or business when research is undertaken. A Ph.D. programme typically lasts three to four years, but this might vary according to the type of the research and institution’s guidelines. Top institutions that offer marketing management courses Marketing as a specialisation is available at several institutes. But the placement assistance, faculty assistance, infrastructural support, and research effort distinguish some institutes from others. Following are some of the top institutions that offer (either offline, online, or both) courses in marketing management: Indian Institute of Management, AhmedabadIndian Institute of Management, BangaloreIndian Institute of Management, CalcuttaIndian Institute of Management, LucknowIndian Institute of Technology, BombayIndian Institute of Management, KozhikodeManipal University JaipurXavier Labour Relations Institute, Jamshedpur Become a marketing manager with Online Manipal An online MBA in marketing as an option offered by Manipal University Jaipur will help you get an edge in your career – in terms of a lucrative pay package and a higher designation at entry. Manipal University Jaipur’s MBA with marketing electives can help you perfect the needed skills and abilities to successfully meet profitable roles, whether you wish to work in brand management, entertainment, media, advertising, business development, or sales. It will equip students with all the aptitudes and information, ensuring they are future-ready. The curriculum in this programme covers all the significant and contemporary marketing features and tactics in-depth, ensuring that you succeed in your marketing career path. Conclusion Marketing management programmes are becoming increasingly important for developing entrepreneurial initiatives, businesses, and the service industry to increase the visibility of goods and services to clients. In the current economic climate, enrolling in marketing management courses stands to reason because there are several ways marketing specialists are seeking to access company prospects in both untapped and established industries. Marketing management classes will teach you to become more adept at pursuing, promoting, positioning, and valuing commodities for clients precisely. Enrol in online management programmes from reputed institutes such as Manipal University Jaipur to advance your career route.
What is a business analyst? Roles, responsibilities, career and salary Key takeaways: To bridge the gap between the business and IT, business analysts (BAs) are responsible for applying data analytics to review business processes, establish requirements, and offer data-driven recommendations and reports to executives and stakeholders Business analysts create a comprehensive business study, identifying issues, opportunities, and solutions for a company Business analysts plan and forecast the activities of the business Business analysts helps in arranging and keeping track of projects Analysis of differences in between process Business analysts records pricing and reporting status of the projects Business analysts define requirements definition and communication to stakeholders A business analyst is someone responsible for understanding the needs of a company or an organisation and then providing the best possible solutions to meet those needs. They work with IT professionals, managers, and other stakeholders to gather requirements, analyse the current state of the IT system, identify gaps in functionality or performance, and recommend solutions. They are often trained in business, economics, or engineering and have significant experience in the field. A business analyst’s role is to work with stakeholders to understand their requirements and then develop a strategy for meeting those requirements and goals by analysing data, identifying problems, making recommendations, and implementing changes. A business analyst will typically work closely with other project team members, such as developers and project managers. Some companies may require that their analysts have specific qualifications before they can be hired. For example, a company may require that its analysts have at least three years of experience in the field or hold a degree in engineering or computer science. What are the roles and responsibilities of a business analyst? The business analyst role is to provide accurate, timely, and thorough information about a company’s business needs. They are also responsible for ensuring that their recommendations are based on the best available information and will not negatively impact the company’s bottom line. Business analysts should be able to collaborate with multiple departments to make sure their recommendations reflect the full scope of a company’s needs. Along with having strong technical skills, they must have excellent communication skills as well. Business analysts should also work effectively with clients or customers to understand their needs and how they can best meet them. A business analyst is often called upon to create models of how customers interact with products and how those products relate to each other. Problem solving is one of the key skill for a business analyst. Business analysts are also responsible for creating budgets, projects, reports, and other documents that help a company run more smoothly. They’re usually expected to be able to use their creativity to come up with new ideas for marketing campaigns and ways to improve efficiency within the company. A business analyst is a professional who uses their expertise in business to help teams make better decisions and take on new projects. While you might not be an expert in every aspect of your company’s business, you can still become a business analyst. Business analysts work with teams and clients to understand the problems they’re facing and how to solve them. Business analysts are responsible for helping other people make better decisions. This means they’re required to use their expertise — not just in the field of business but also in IT. The best way to develop this skill set is through education and experience, but it is also essential to understand what you’ll be doing on the job. Business analysts have to play a vital role in helping organisations reach their full potential. They are responsible for identifying business opportunities and developing plans to capitalise on them. They also play a crucial role in identifying and solving business problems. In addition, they provide valuable insights and recommendations to decision-makers. The specific responsibilities of a business analyst will vary depending on the organisation they work for, but in general, you can expect to perform the following tasks: Conduct business analysis to identify opportunities and develop plans to capitalise on themIdentify business problems and develop plans to solve themProvide valuable insights and recommendations to decision-makersPrepare reports and presentations to communicate your findingsServe as a liaison amid business and technical teamsManage projects and ensure they are completed on time and within budgetDetermining the goals of a product or serviceEvaluating the feasibility of a projectCreating user requirementsBusiness analysts have many responsibilities, including:Determining the goals of a product or serviceEvaluating the feasibility of a projectCreating user requirements If you have the skills and qualifications for the job and are passionate about helping businesses achieve their goals, then a career as a business analyst could be the perfect fit for you. How to become a business analyst? Becoming a business analyst is a process, not a single step. It is important to understand that becoming a business analyst is not the same as “making yourself” into a business analyst. It is more like building a house: you must start with the foundation and work your way up. The first step in becoming a business analyst is to define your interests. An excellent start is through formal education or training in related fields, such as management or accounting. You’ll likely find that these types of skills for business analysts will help you better understand the industry or company you’re targeting, so it is essential to be able to articulate what you already know about it. Becoming a business analyst can be challenging, but don’t worry; we’ve covered you. Be willing to learn If you are not willing to train yourself, then there is no point in starting this process. You will only end up wasting your valuable time and money. Find a mentor If you’re looking to become a business analyst, you first should find someone who can guide you through the process and help you through the ups and downs of your career path. Someone who has been in your shoes before or who has been there for years and knows what they’re doing? Either way, they’ll help keep you on track when times get rough—and they’ll also be able to answer any questions that pop up along the way. Learn as much as possible If possible, take classes or workshops on getting started as a business analyst. You don’t need to have formal training, but this will help set you apart from other candidates going into interviews and ensure that whatever experience gaps you have are filled in by taking classes with other people in similar positions. The more knowledge base and experiences you have, your career will be better off. Take business analyst courses covering the basics of accounting and finance, including algebra, statistics and financial modelling. You’ll learn how to analyse data and make sense of it to identify opportunities for growth or profitability. Here are the top-rated courses in business analytics – Two-year Master of Science in Business Analytics (M.Sc. in Business Analytics)One-year Postgraduate Certificate Programme in Business Analytics (PGCP in Business Analytics) Take the plunge! Get a bachelor’s degree in business or computer science. This will help you understand what businesses need and how they work. Gain experience Gain experience working with clients by interning at small companies that use your skill set before applying for jobs at larger companies where you can demonstrate your knowledge through projects that use your skill set. Completing an internship Complete an internship with an established company (one that is not too large or too small), so you can get real-world experience working on projects that require data analysis skills like yours within an established company structure and culture. YOU MAY ALSO LIKE: Career options with an M.Sc. in Business Analytics What is the difference between data science and business analytics? When it comes to data science, there is a significant difference between Business Analysts and Data Analysts. Because of their many similarities, these two functions may be interchangeable depending on the organisation’s size. However, some data-specific activities are exclusive to each analyst function. Let’s take a closer look at them. Business AnalyticsData ScienceThe field of business analytics does not require nearly as much coding.Data science requires a significant amount of coding expertiseBusiness analytics is the statistical analysis of business dataData science benefits the scientific study of data through algorithms, statistics, and technology.Business analytics is essential for management to use when making important choices.The results of a data science analysis can’t be used in the day-to-day decision-making of the companyBusiness analytics is not dependent on data available significantly.Data science is highly reliant on the available data.Business Analytics is cheaper compared to data science.Data science is an expensive field to make an investment in.Business analytics emphasises structured data.Data science uses both structured and unstructured data.A business analyst cannot cover all aspects or standards of a data science employee.Data science encompasses all aspects of business analytics. Therefore, a person with skills in data science benefits can do business analyticsBusiness analytics provides answers to business-related questions particularly financial ones.Data science does not answer a clear-cut question. The majority of the questions are broad in scope.Business analytics is required for a company to understand how its business operates and obtain insights.Data science benefits are currently one step ahead of business analytics READ MORE: Scope of M.Sc. in Business Analytics What is the difference between business analysts and business intelligence? “Business analytics” and “business intelligence” are frequently used interchangeably, but they are not synonymous. Data collection and preparation for Business Analytics is a component of Business Intelligence. When it comes to making data-driven decisions, business intelligence is more of a first step. Business intelligence is the process of analysing the data it generates. In contrast to Business Intelligence, Business Analytics seeks to determine why something occurred and whether or not it will occur again. In business analytics, examples of statistical and quantitative analysis include data mining and predictive modelling, as well as multivariate testing and multivariate testing. What are the limitations of data science over business analytics? Collecting valuable data in real-time Risk managers can use automated technologies to configure data gathering and analysis by adjusting metrics. Analysts may devote more time to providing valuable information to organisations that can help them generate leads by collecting, processing, and arranging data without human intervention. Grasping with the constant flow of information Due to the ever-growing volume of data, corporate growth is hindered by issues related to data management. Data is a problem for every firm that decides to go digital. As they expand, more data is added, leading to chaos if not correctly structured. The process of making raw data understandable In addition to the challenge of collecting data, organisations are finding it increasingly difficult and time-consuming to turn data into images that communicate. It is hard to tell anything from the raw data gathered online. Decoding or translation is required to make data usable in its original form. Analysts must create their own graphs using sophisticated formulas if they don’t have the right software. Organising and utilising data from many sources Data abounds on the internet and is all mixed up and intertwined. It is a mind-boggling idea to grasp, yet it may cause organisational problems and impede progress. The inaccurate analysis is caused by the failure to combine data from several sources into a single database. Analysts have less time to study and understand the larger picture if they are forced to manually sort through data from over the internet. Inadequacy in analytical abilities Business analysts and engineers are sometimes expected to have all the answers to their data-driven problems. As a result, they face an extensive range of issues for which they are ill-prepared. Companies do not understand their employees’ challenges, so they do not provide adequate training. Final word Finding the best business analysis education might be difficult. It is challenging to know where to begin with so many options. Online Manipal offers a plethora of courses to help you kickstart your business analysis journey. We provide a wide choice of business analysis courses, from beginner to advanced.
How can I get a career in the consulting industry in 2022? can be chosen based on your skills and inclinations. After this, you might also consider enrolling in short-term courses to improve your expertise. Select a consulting mode You could provide consulting services either as a full-time employee of the company or as a freelance consultant. Your career objectives, desired level of professional independence, and financial flexibility status will influence your decision. Self-marketing Self-marketing aids in establishing your credibility in the business sector. Proper representation of your brand functions as a potential lead can increase your clientele. Choose the organizations and initiatives you want to collaborate with, produce observable and quantifiable results, and spread the word about them within your network to build your image and brand. Acquire practical experience Start gaining relevant experience to highlight your consulting abilities. Working on projects in your area of expertise is essential whether you are an independent consultant or employed by a company. Work on projects to portray your knowledge and skills. Consultants can increase their knowledge and skills in the domain of their choice by pursuing a management degree like MBA. This will open up better and higher paying avenues in top companies. Those who have already started working full time, can choose an online MBA degree to skill up. Also read: What are the best career options after a BBA? Key skills for a successful career in consultancy A successful career in consulting requires a combination of technical knowledge, analytical skills, and interpersonal abilities. Here are some key skills that are highly valued in the consulting industry: Analytical thinking: Consultants must be able to analyze complex problems, break them down into manageable components, and develop logical and structured approaches to solve them. Strong analytical skills enable consultants to gather and interpret data, identify patterns, and draw meaningful insights. Problem-solving: Consultants are problem solvers by nature. They need to be able to think critically, identify root causes, generate innovative solutions, and make informed recommendations. A structured problem-solving approach, such as the use of frameworks and hypotheses, is often employed to address client challenges effectively. Communication and presentation: Effective communication is crucial in consulting. Consultants must be able to articulate their ideas clearly and concisely, both in written reports and oral presentations. Strong presentation skills, including the ability to communicate complex concepts to diverse audiences, help consultants convey their recommendations effectively. Interpersonal and relationship building: Consulting involves working closely with clients, team members, and stakeholders. Building strong relationships, establishing trust, and effectively collaborating with others are essential skills. Consultants must be able to adapt to different working styles, listen actively, and navigate interpersonal dynamics. Client management: Consultants need strong client management skills to understand client needs, manage expectations, and deliver value. This includes active listening, empathy, responsiveness, and the ability to build long-term client relationships. Consultants should also be skilled at managing client feedback and addressing any concerns or challenges that may arise. Business acumen: Understanding business fundamentals and the broader economic context is crucial in consulting. Consultants should have a solid grasp of financial analysis, market dynamics, industry trends, and strategic principles. This enables them to provide valuable insights and advice to clients within their specific business context. Leadership and Influence: Consultants often work in teams and may lead projects or workstreams. strong leadership skills, including the ability to inspire and motivate others, facilitate collaboration, and drive results, are essential. Consultants must also be skilled at influencing stakeholders, even in challenging situations. Adaptability and flexibility: Consulting projects can vary in terms of industry, function, and scope. Consultants need to be adaptable, open to learning new industries and domains, and able to quickly grasp and apply new concepts. They should also be flexible in managing shifting priorities, tight deadlines, and changing client requirements. Key trends in the consulting industry Followings are some of the trends in the consulting industry: Digitalization and AI to boost business performance Consultancies are adapting to innovative technologies as they embrace AI and digital solutions to enhance their data processing and supply chain management. Massive amounts of data can be sorted by AI considerably more quickly than traditional methods, giving customers a more knowledgeable and superior service. This trend will also enable experts within the sector to have an enhanced decision-making work process. Development of cloud capabilities Cloud-based services will become more popular as remote and online jobs become more prevalent. It has increased the amount of advice service industry professionals give customers about adopting the cloud, which has caused consultancies to grow their capacity for cloud services via investments, acquisitions, and partnerships. Global hiring for specialized posts Consultancy services will become more popular as the economy keeps improving and the markets reopen. Companies are growing their global workforce in response to this demand and providing chances to experts. These crucial fields will require experts in software engineering, cloud computing, digitisation, change management, and conventional strategic consulting positions. Updated retention tactics Because of the anticipated increase in the demand for consultants, consulting firms will seek to retain top personnel by examining various retention techniques. Both companies and employees want sustained flexibility; thus, hybrid working patterns implemented during the pandemic will persist. Aside from evaluating pension and well-being benefits, consulting firms are also looking into other long-term strategies for staff retention. Check out: Increasing demand for business education and non-tech jobs Can I become a consultant with an online degree? Yes, definitely. In a competitive industry, consultants need a bachelor’s degree at the very least. A business degree like an online BBA can be the best option for people who are unsure of which academic path they should take because it is a broad field that covers a variety of subjects. An online master’s degree like an online MBA, can lead you a step ahead on your desired career path. Since online programs in India are on par with on-campus programs are recognized worldwide, you can apply for online courses at a reputable institution. Be prepared for a consultant job with an online degree from Online Manipal One of the wisest moves a consultant career aspirant can make is to enroll for an online business degree like a BBA or MBA at Manipal University Jaipur. The faculty at MUJ is highly qualified and experienced and provides valuable academic and career guidance to online students. The advanced LMS, 24/7 student support system, and placement assistance programs will be extremely advantageous for students enrolled for courses on Online Manipal. Conclusion India’s consulting industry is expanding quickly and reaching new heights globally. A strategy must be developed to take advantage of the enormous potential for the consulting market expansion that exists. Management consulting jobs can be a fantastic career choice if you’re keen to work for large organizations, MNCs, or straight with the C-suite or top executives. This vocation has a good pay scale and constantly presents new challenges. Consider a career in management consulting if you like to work in a team, solve problems, and rise in your profession.
