An MBA degree is widely recognized as one of the most popular educational programmes that provide direct access to the vast corporate domain prevailing across the world. Not only corporate but different sectors such as rural and government controlled sectors require MBA students to fill up the requirement of human capitals. However, an MBA student, during the MBA course rarely gives any importance to selecting the proper field which fits his/her personal interest. And very often students find it difficult to choose the correct entry gate to the interested field. Lack of prior knowledge about the work profile, requirement, company and industries often places a student in a job which doesn’t fit individual personal interest. This is erosive of a career to work on something which doesn’t fit to personal interest and often gives rise to various conflicts including cognitive dissonance. This is detrimental to both the organization as well as the one’s personal career. And this creates an important need to understand the “Various entry options across industries”. This was the topic of discussion in a guest lecture organized on 15th of April at MARC campus.
The guest of the session was Mr. Pavan V Murthy, Senior Implementation Analyst at GT Nexus, India. Previously worked with Bosch, India as a senior officer of corporate logistics and purchase, Mr. Pavan has over 9 years of experience with international exposure to IT, logistics infrastructure and supply chain industry. In the interactive sessions, he raised a few mind-blogging questions for the students about the type of specializations, industries and their sub-domains.
There are four different types of industries:
- Core industries (Primary): Coal, Mining, Steal, oil etc. (Manufacturing)
- Secondary: Auto, chemical, pharmaceutical
- Services: IT, ITES, FMCG, Travel (Tertiary)
- Others: Sports, Media, Food, Fashion (Quaternary and Quinary)
Each industry has different contributions to the total GDP in India. Mr. Pavan presented an estimated figure for the same as shown below:
- Core: 28%
- Secondary 17%
- Services 54%
- Others 1%
These different contributions are major indicators of GDP of an economy and any subsequent changes in their industrial production affects the GDP to the extent of the contribution.
Mr. Pavan then extrapolated this discussion to understanding specialization based entry into various industries. For various specializations, entry points are different and subsequent career growth takes place only after a suitable entry into a suitable profile and company happens.
For Marketing/Sales specialization, focus should be given to roles and functions as opposed to conventional approach of giving priority to industry, company, brand names and size of the corporations. He emphasized that working with a smaller organization gives a better role and satisfaction compared to big organizations where the role of an employee is too miniature compared to the whole size of the organizations. Better learning comes from bigger roles not bigger organizations that one works in. As far as Sales/Marketing roles are concerned, the entry point is usually as the role of a sales trainee which then grows into country manager through sequentially upgraded roles in product level and regional level, respectively. He also quoted one important aspect for the prospective sales & marketing professionals, “Be prepared for the worst as the competition is very high in sales”
Consulting is a good choice for students willing to work as subject matters expert. Consulting companies can be categorized on the basis of the matter of expertise. Strategic Consultants offer strategic solutions to clients (Ex; McKinsey, Boston Consultancy Group), Tactical Consulting agencies offer tactical solutions (Ex.: Accenture, KPMG) and Operation Commuting Consultancy services offer solutions on operations related issues (Ex: Infosys, Wipro, TCS etc.)
The finance specialization students usually have three different types of organizations to work in:
- Banking Sector
- Non-banking financing companies
- Mutual Fund
In Human Resource field, there are two types of specializations. HRM (Human resource management) is more about research management. HCM deals in human capital management.
Talking about Emerging Opportunities, Mr. Pavan pointed out to a few potential industries where MBA students can leverage on for high-growth job profile. These are:
- Analytics, Big data
- Cloud technology
- Energy and utilities
- Mobile technology
It was a very interactive session and the students were delighted to explore a systematic flow of growth for various job roles corresponding to various industries that are offered to the students. The essence of this discussion was very pertinent to the students of MARC School of Business as can be observed from the warm and interactive response from the students attending the session.
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