Want to do an MBA in operation management and don’t know the scope of MBA in operations? Are you passionate about understanding manufacturing or production operation? Read this article to perceive more.
The Operation Management component is one of the most crucial parts of any company. The scope of MBA in Operations can easily be inferred, as the one who operates the operation department is accountable to ensure the quality and quantity of the product and its production in the manufacturing unit.
The production should be carried out in such a way that it should be cost-effective and should meet the customer’s expectations, which are the paramount objective of any organization. MBA in Operation Management future scope is developing continuously with the developments in the operation sector and will continue to prosper in time to come.
MBA in Operations Management aimed at imparting knowledge regarding planning, creation, and management of resource capabilities used by a business to fabricate products or services. MBA in Operation Management future scope is very broad, as while pursuing this course, a student is schooled to take on challenges concerning chain design, logistics, and supply chain management.
What Does the MBA in Operations Management Cover?
Some of the primary subjects include:-
- Management of organizations
- Managerial economics
- Corporate legal environment
- Accounting for managers
- Management of international business
- Business skills development
- Business policy and strategic management
Must Read: MBA Salary in India
MBA Operations Management Preconditions
Analyzing and decision making are the prime prerequisites required from an MBA in operations management aspirant, as operations jobs include planning processes, product design, or manufacturing. Intrinsic interest in operation management and flair in steering the diverse facet of business functions will pave the way for a very lucrative future!
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Scope of MBA in Operations
Operations Management is now sought after in India! Like other specializations such as Finance, Marketing, and Human Resources. The following points explain the scope of MBA in operations in India and abroad:-
Recognize and realize the requirement of an Industry
Studying MBA in Operation Management will prepare you to handle interdepartmental pursuits and will be industry-ready. It will make them aware of what organizations are looking for and what they possess. It will help them become a long-asset to the organization and help them meet these corporate house expectations.
Favourable opportunities in the corporate sector
Operations Management specialists are high in demand, which results in development with regards to career opportunities. The project cycle efficiency in production and logistics procedural implementation is a requirement of every manufacturing sector. This need has drastically increased the scope of MBA in operations as these industries want operations management experts at different levels.
Gaining extensive knowledge
It provides an opportunity for the students to learn how to solve real-life industry issues using their in-depth knowledge and skills that they acquired while doing an MBA in Operations Management. The skills such as process analysis, business process management, quality analysis, and vendor management, enhance the overall operation in production and supply chain management.
Coveted demand in almost every Industry
Operations Management in MBA is a fast-growing career option in India and abroad. In recent times it will be wrong to overlook the importance of operation management as it has become a manufacturing and logistics tool. However, operations management has gone through a revolutionary change in present times.
MBA in Operations Management Future Scope
The future is very uncertain, but the scope of operation management is not! E-Commerce is one of the fastest-growing industries in India and is enlarging its scope continuously. Did you know logistics and warehousing is the lifeblood of the e-commerce industry? Considering this increasing trend, the use of blockchain has rapidly hiked, as it is useful in project efficiency.
It will open the way for enhancing the scope of MBA in operations management as these e-commerce industries will hire operations specialists and experts. The good thing about MBA in operations is that it does not limit itself to a single industry, but it has expanded its scope to multiple industries. The degree also provides an opportunity to climb up to the top of the organizational hierarchy and grab a leadership position!
Operations are an essential part of any organization that begins from the private sector to the public sector. It is a known fact that in operations management dimensions, it does not matter as every small to big company is apt to hire operations professionals.
Recently the service sector has shown tremendous growth, which clearly means MBA in operation future scope will show an upward trend, and there will be more opportunities for operations management in the near future, especially in the service sector.
The importance of operation management can be seen in the immediate future, as competition has been fostering up and the companies need to streamline their supply chain to face the rivalry.
According to the US News and World Report, operations management jobs will grow by an estimated 12.4% between 2012 and 2022. This means that there will be an eminent opportunity for the operations management specialist by the next two years.
Operation professionals’ work is undoubtedly stressful, but they are compensated very well because of your skill, experience, and education. As mentioned earlier, operational experts are enjoined in every Industry, so according to the sector in which they are working, they are paid as per the universal standard. But these professionals are paid in six figures, which increases with experience, and the demand for these experts abroad is slightly high compared to India.
Job Titles After MBA in Operations
A fresh postgraduate can expect handsome salary packages and various job titles such as:-
They are mainly responsible for giving operations strategies and objectives to ensure that the company reaches its target and works accurately.
Area Operations Manager
The main work includes reporting and monitoring the team and supervising the implementation of company policies and standards appropriately.
Their role is crucial operations managers, overseeing HR duties, and analyzing and improving organizational processes and productivity.
General Operations Manager
The manager post in itself is very prime. General Operations Manager is mainly accountable for finances and has a duty to watch the budget and its use.
Manufacturing Consulting Manager
Assisting the production process is the central role of a Manufacturing manager in terms of suggesting ways of process improvement, new product development, and conduct plant layout study.
Plant Managers are assigned the task of picking up the day-to-day activities of a manufacturing plant. They need to track the systems’ efficiency and productivity and make decisions regarding plant performance and future objectives.
Operational Research Analyst
Operation in MBA explains not only the practical aspects but also the theoretical aspects. Anyone interested in the theoretical aspect can go for Research Analyst. The main task includes the allocation of the company’s assets and resources and figures out cost-effective techniques.
These posts are conferred to the freshers. However, hard work and dedication can help them to reach a new height of success and prosperity.
Also Read: How to do Global MBA in India?
The top companies hire students from an operations background, which increases the scope of MBA in operations. More candidates every year apply for operations in MBA from upGrad.
Some of the recruiters are:-
- Tech Mahindra
- Maruti Suzuki
- Blue dart
Even the top international companies recruit professionals specialized in operations. These companies include:-
- Bank of America
- United Technologies
Apart from these top companies, various other insurance companies, consulting firms, financial institutions, and logistics hire operations experts that enlarge the scope of MBA in operations.
Mainly, it attracts jobs from the operations sector due to digital marketing MBA in operations; the future scope is constantly emerging.
Why is MBA in Operations Management Important?
The scope of Operations Management is vast in the future. Operations managers oversee the processes involved in producing goods and services while employing personnel, supplies, tools, and technology.
Based on the demands and desires of the customer, as well as the company’s capabilities, they will purchase, produce, and supply items to the customer.
Many people pursuing careers in this field are intrigued by the technological advancements made possible by operations management, whether it be a new Apple product, quick package delivery from Amazon Prime, or the ability to heat your home. You may gain the knowledge and abilities required to implement these advances by studying operations in an MBA program.
Of course, operations are a crucial component of managing any firm, and it’s important to note that developing these abilities may help you become a better manager. Keep reading to learn more about the scope of operations management.
- All Businesses require operations management to function
The scope of an operation management job expert is to convert the labor and material resources of a company into goods and services.
Understanding operations is crucial if you work in manufacturing since this is where the vast majority of a company’s revenue is generated or spent. Comprehending operation management is crucial for people in the service sector since it distinguishes or sets apart businesses in the same region. When considering banks or logistics firms, the value proposition they deliver to customers is frequently focused on the operations department’s services.
- Operations Management can help you become a top executive.
Because they are in such great demand, the scope of operation management professions is even more alluring. The demand for supply chain and global operations managers has increased as a result of globalization. Due to the opportunity to manage several employees and gain knowledge of how the organization generates revenue, the operations job aids students in acquiring the abilities necessary for a top executive position.
- Operations Management can help you become a good manager
Being familiar with the different aspects of a firm will help you become a better manager. An operational awareness can help you do your duties more effectively because operations are required to manage a firm. General managers who have an MBA must comprehend how operations management interacts with other functional areas.
Executives without a background in operations can nevertheless advance in their careers by using their operations knowledge.
- Operations management skills can be applied in all industries
Operations management abilities are required in banking and finance in order to move significant quantities of money and create financial arrangements. Even sectors where operations may not appear as vital, like the aviation industry, have experienced significant advancements. There are great opportunities for jobs after MBA in operations management.
- Operations Management can help in creating the final product.
Operations management allows you to contribute directly to the creation of a finished product. Many MBA jobs give you the chance to do something meaningful with your career, but the scope of operation management gives you that opportunity. Daily problem-solving and international interaction are opportunities for operations managers. Operations management gives you the opportunity to be directly involved in delivering the finished product to the customer, as opposed to finance or marketing, which, although vital, place you more on the perimeter. The prospects of jobs after MBA in operations management are great.
It is an uphill task to explain the scope of MBA in operations as we cannot set a parameter to judge the same because of its vast scope. In modern times where everything is rapidly changing with time, every organization disregarding its size, service, and even the public sector expressed their need for operation management. Its demand lies in Automobiles, Telecommunications, Construction, Pharmaceutical sectors and banking, financial services, and Aviation sectors.
upGrad provides an MBA in Operations from a top-UK school, the Liverpool Business School. It furnishes a 1-week immersion program at the university campus. The duration is 20 months (10-12 hrs/week).upGrad is providing this facility at Rs. 12,396 per month. So, what are you waiting for? Enroll today and get an opportunity to learn from the leading faculty and industry leaders! It will aid you in advancing your career with industry-relevant skills.
It focuses on a practical approach rather than a theoretical one. It organizes various online as well as offline events where one can interact and learn. For a smooth learning experience, non-academic queries are resolved too.
What is the difference between operations and production management?
Production management involves turning raw materials into finished products. From creating an effective outline for production to planning, supervising and scheduling various tasks, production management solely involves maximising output and making best use of available resources. On the other hand, operations management is slightly different. It is the process of managing the everyday activities of a company. For a business to improve their overall efficiency as well as quality of their products, operations management is vital.
Why has operations management become an in-demand profession?
Operations management has become an in-demand profession today because every business wants qualified personnel who can oversee the human resources, facilities and financial aspects of a business. The expected job growth for operational management professionals is expected to rise to 12.5 percent in 2012-2022. If any operations manager has logistics expertise, they can expect even greater employment opportunities. The job growth for logisticians is around 22 percent. To bag the role of an operations manager, an individual must have good judgement, decision making skills and excellent communication abilities.
How can I become an operations manager?
To become an operations manager, you need a combination of education and on-the job experience. It usually starts with an undergraduate degree in business administration or any related field. Even if you don’t have a bachelor’s degree in any business-oriented field, you can always do a certification course like the one offered by upGrad. Focus on getting certified in supply chain management, logistics or production management. After completing your education, gain as much on-the-ground experience as possible. Before getting your full-time job, you can even intern. This will enhance your job opportunities and promise better growth.
What exactly are business operations?
Business operations is a general term that includes all the elements and activities that contribute to a company’s functions and profitability. There are several different companies, each with its own products and target audience, and yet most of them seem to have a few basic operations in common. For example, since most companies have employees, personnel management is a process they all must take care of. Do they need a few highly skilled experts? Do they need several employees who have basic tasks? There is also the question of technology, infrastructure, and location. Does the organisation operate through a physical store or through other means? Is it accessible to customers? How much rent must be paid? Business operations are the process of answering all these questions, and many more, and making decisions based on them.
How do I enter the highly lucrative field of Operations Management?
An operation manager is central to the day-to-day functioning of any organisation. This position has wide-ranging responsibilities, from planning and design to production and quality control. Hence, having an education in the relevant fields at an undergraduate level itself is definitely very useful. Business administration is one of the programs that offer the maximum amount of exposure. The next step is to gather real-world experience in an actual organisation. Interning under a senior manager can provide invaluable skills and expertise. After this, you can further strengthen your resume by completing professional certifications. You could become a Certified Manager, or a Certified supply chain professional, and thus possess conclusive evidence of your competence as a manager.
Are there any subtypes within Operations Management?
As discussed earlier, an operations manager has a number of diverse duties that cut across multiple domains. However, there are a few areas where they tend to specialise. For example, supply chain management involves monitoring, inventory control, and production and distribution. There’s also budget planning management, which relies on operations managers to oversee the evaluation and planning of operational budgets. Finally, Human Resources management requires operations managers who can decide on and implement the general protocol that employees must follow in a workplace.