Today’s business world is primarily dominated by newer business tactics tailored to suit the current times. Customer acquisition, retention, and feedback are really critical in ensuring the long term success of an organisation. A great company has many aspects, each of which plays a vital role in the company achieving its profit targets. They have specific departments headed by experienced and able individuals to ensure that the departments perform according to their capacity. Proper management is essential to utilise the efficiency of all these departments and the resources available.
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What is Management?
Management is the process of planning, organising, and allocating resources towards a specific direction or completion of tasks. It involves optimising the available resources to get maximum returns from them. A manager’s job is also to lead a team of people and help them contribute towards achieving the organisation’s desired goals.
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How to improve your knowledge in any field?
Get a degree-
Degrees remain one of the most effective ways of learning a new subject. You can enrol yourself in an offline institution and learn with your fellow peers. It exposes you to new ideas and boosts your confidence. There are also high chances of getting placed at top companies during college campus placement drives.
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Take online courses-
These are one of the newer ways to learn a new subject. Many universities offer online degrees and short courses that can help boost your career.
Watch YouTube videos-
There are many YouTube channels which offer quality education free of cost. They can take you through the definitions, types, and processes involved in management in detail.
Books are the best ways to gain knowledge in any field. You can try out different books which will help you learn from the insights of various experts in the domain. From curriculum-based books to fun, insightful books, you can try them all.
Top 10 Management Books–
Leaders Eat Last, by Simon Sinek
Leadership is an essential part of management. It focuses on how leaders can build a great team that can help them in the organization’s goals. According to Simon, leadership is about helping people realize their potential. Any internal conflicts should be avoided by having a proper safety circle in the organization.
The First Time Manager, by Jim McCormick
The book focuses on new managers in any organization and explains essential management skills such as delegation and leadership. It contains checklists and how-to’s to explain the art of managing a company.
The Speed Of Trust: One Thing That Changes Everything, by Stephen M.R Covey
Trust is one of the essential factors in a business. It is the foundation on which any company rests. This book focuses on how organizations can use the trust-factor to improve employees’ productivity and ensure loyalty. It also talks about how one should trust themselves as it boosts confidence and produces positive results.
Multipliers, by Lix Wiseman and Greg McKeown
The book’s focus is on two types of managers- Multipliers and Diminishers. Multipliers are people who make the people around them more capable and effective. On the other hand, diminishers are intelligent people but tend to overrun other ideas and make people feel inferior.
Your Brain At Work, by David Rock
This book helps people enhance their efficiency by understanding how the brain’s working. The book gives various ways which help train the brain and improve brain power by cutting off distractions.
Scaling Up Excellence: Getting To More Without Settling For Less, by Rober Sutton and Huggy Lao
The book focuses on the challenges that companies face while calling up. The authors have come up with 7 mantras that you can use to break free from attitudes which are growth-limiting in nature.
Financial Intelligence, by Karen Berman and Joe Knight
This book focuses on financial knowledge, which every manager should have in order to run the organization smoothly. It explains many finance-related concepts that can benefit managers of all levels in any department of any organization.
How To Win Friends And Influence People, by Dale Carnegie
One of the most famous books of all time, this book still acts as a guide for many managers. The book mentions ways and techniques to win over people and employees. This helps create a positive and conducive atmosphere in the organization to achieve its objectives.
The One-minute Manager, by Ken Blanchard and Spencer Johnson
The book provides simple tricks and tools to help managers manage their teams well. The manager should set 3 goals for employees and spend one minute appreciating and one minute reprimanding them for the work done. This keeps employees motivated, accountable, and happy.
The Advantage: Why Organisational Health Trumps Everything Else In Business, by Patrick Lencioni
The book talks about 4 disciplines which can help improve organizational health. Companies with good organizational health generally retain employees and achieve their targets more efficiently than those that do not.
If you are interested in making your entry into the world of management, you can check out the Master’s in Business Administration (MBA) by Liverpool Business School in association with upGrad. You get the chance to learn from the esteemed faculty of Liverpool Business School . You also get guidance and mentoring from industry experts, which can help your professional career. You get to learn from peers from all over the world and get career guidance through mock interviews, job fairs, etc.
Management is a broad-scoped field which has enormous utility for companies. As the company grows, managing the company becomes even more difficult. There is a massive chance of the entire operation going haywire if the organization is not appropriately managed. This is why companies spend considerable money hiring able and dynamic managers. The average salary for managers in India is approximately INR 12 LPA. As the business environment has become conducive to growth, several new companies are entering the domain, and the old companies are expanding at a high rate. Hence, the need for managers is only going to rise in the near future.
How can I be admitted into the prestigious Business Schools of India?
Management is a dynamic field which provides a broad career scope. Some of the top Business Schools in India are various IIMs, XLRI, and IIFT. You have to appear for competitive exams such as CAT, XAT, etc. The high demand for MBA graduates leads to many people appearing for the examination. An estimated 2 lakhs students take the CAT every year. Once you clear the examinations, you will be called for the interview according to your percentile. The final step is clearing the interview and ensuring your admission to the institute.
What are the various specializations in MBA?
The management field is quite vast. Different industries demand MBA graduates specialised in specific areas. Some of the specialisations you can opt for according to your interest are Finance, Human Resource Management, Information Technology, Logistics Management, Marketing, Strategy, Operations, Entrepreneurship, and Business Analytics.
What do I have to do to get admission to MBA programmer abroad?
MBAs abroad offer a great learning experience and exposure. You should have a GMAT score, a TOEFL score, and work experience for applying to foreign universities. You also need to provide letters of recommendation and MBA essays, which vary from university to university.