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Business Management

What is Business Management?

In this stream of study, you are going to be imparted knowledge and skills to run a business effectively and efficiently such as:- 

  • Thorough analysis

  • Proper planning

  • Justified supervision of people

  • Correct execution of business functions. 

What does a business manager do?

  • As a business manager of a company, you are given the responsibility of managing various administrative tasks related to the company.

  • A business manager is expected to have a good understanding of the work procedure and at least basic aspects of all other departments like accounts, marketing, and human resource.

  • A business manager does not work alone. He is given a team under him to accomplish their responsibilities. 

Where can one study UG in Business Management?

Best Colleges/Institutes offering UG/PG in Business Management: 

  • Indian Institute of Management, Ahmedabad

  • Indian Institute of Management, Bangalore

  • Indian Institute of Management, Calcutta (Kolkata)

  • Xavier School of Management (XLRI), Jamshedpur

  • Faculty of Management Studies, University of Delhi, New Delhi 

Popular Colleges/Institutes offering UG in Business Management: 

  • Symbiosis International (Deemed University)

  • BIMTECH - Birla Institute of Management Technology

  • Amity Global Business School

  • ICFAI Business School (IBS)

  • Institute of Management Technology, Ghaziabad

What is the course duration UG course in Business Management? 

  • At the UG (BBA) level the usual course duration is three years

  • At the PG (MBA/PDBM) level, the course duration is two years

What are the specializations Areas in Business Management after completing UG/PG in Business Management?

The popular specialization areas are:

  • Quantitative Methods

  • Human Resource Management

  • Finance Management

  • Marketing Management

  • Information Technology Management

  • Operations Management

The above list is representative and not exhaustive.

What are the Job Prospects after acquiring UG/PG in Business Management?

After acquiring a master’s degree in business management the job prospects increase manifolds and the following are the most likely places:

  • One may appear for NET and start a career in Teaching Industry

  • Or they may opt for PhD as well after Masters in the field as a researcher

Apart from that there are many fields, where a Business Manager is required:

  • In different industries like Education, Retails, Automobiles etc. 

  • Government Jobs 

  • Ministries Job one of them is the Ministry of Human Resource Development and many more.

  • Consulting Firms

  • Research Agencies

  • International Trade

What are the areas where one can work as a Business Manager?

Amongst others, you may be working in 

  • Materials Management

  • Human Resource Management

  • Financial Management

  • Strategic Planning

  • Marketing Management

  • Logistics Management 

What is the Expected Salary for a Business Manager at the start?

The remuneration package depends closely on the stream, firm, and location. Following are the average salaries of the professionals in this field at different points of their career: 

  • The average salary of a business manager in India is Rs 867,643/yr

  • Average early career salary with less than one year Rs 362,669/yr

  • Average early career salary with 1-4 years’ experience is Rs 539,019/yr

  • Average mid-career salary with 5-9 years experience is Rs.775,682/yr

  • The average salary of senior professionals with 10-19 years’ experience is Rs.1,317,723 /yr

(Source: payscale.com) Salaries are per annum

Who are the top recruiters in this field? 

The need for professional business managers is everywhere. Finance sector including banks, insurance companies, NBFCs, Information Technology Sector, eCommerce businesses like Flipkart, Amazon, Shopclues, and SnapDeal are the top recruiters. Some other names are

  • Tata Consultancy Services (TCS)

  • Coca Cola and Pepsi

  • Hindustan Unilever 

  • P&G

  • TISCO

  • TELCO

  • Google

  • RIL

What kinds of books and study materials are available for the entrance examinations? 

Since getting admitted to a good institute depends on competing successfully in the Common Admission Test (CAT) one needs to consult and practice:  

  • How to prepare for verbal ability and reading comprehension for CAT by Arun Sharma and Meenakshi Upadhyay

  • Verbal ability and reading comprehension by Ajay Singh

  • How to prepare for data interpretation for CAT by Arun Sharma 

  • Quantitative Aptitude for the CAT by Nishit K. Singh

  • Past 10 years papers

  • Mock test series 

Interesting facts

  • Indira Nooyi, former CEO of PepsiCo and presently Board Member of Amazon, International Cricket Council, Schlumberger, did Business Management from IIM, Calcutta.

  • “Management Consulting” is a term searched in Google 1.8 million times every day.