Professional Development LAP 15 Go For It! Careers in Business Professional Development LAP 15

Identify types of careers in business. Professional Development LAP 15 Go For It! Careers in Business A Identify types of careers in business. B Describe traits, skills, and educational requirements needed for success in business careers. Professional Development LAP 15

A Identify types of careers in business.

Business careers—all shapes and sizes! Endless possibilities

Three Categories of Business Careers Management and administration Finance Marketing Management and administration Finance Marketing

Management and Administration Careers Exist virtually everywhere! Include everything needed to keep business running smoothly

Management and Administration Careers Categories: Administrative services Business information management General management Human resource management Operations management

Management and Administration Careers: Administrative Services Facilitate business operations through a variety of administrative and clerical duties Are often called support staff

Management and Administration Careers: Administrative Services Examples: Secretarial and reception Customer service Records management Office management

Management and Administration Careers: Business Information Management Provide a bridge between business processes/initiatives and information technology (IT) Help to align business and IT goals

Management and Administration Careers: Business Information Management Job examples: Project manager Business analyst Business process manager

Management and Administration Careers: General Management Plan, organize, direct, and evaluate part or all of a business organization through the allocation and use of financial, human, and material resources Assume supervisory responsibilities and make decisions, either big or small

Management and Administration Careers: General Management Job examples: Supervisor Store manager or owner District manager Director

Management and Administration Careers: Human Resource Management Focus on activities that involve planning, recruitment, selection, orientation, training, performance appraisal, compensation, and safety of employees Serve as a link between top management and employees

Management and Administration Careers: Human Resource Management Job examples: HR generalist Training manager Benefits administrator Recruiter

Management and Administration Careers: Operations Management Plan, organize, coordinate, and control resources needed to produce/provide a business’s goods/services Oversee activities including quality control, scheduling, procurement, and warehousing

Management and Administration Careers: Operations Management Job examples: Purchasing manager Master scheduler Quality manager Supply chain manager

Finance Careers Make strategic decisions to report, obtain, save, protect, and grow the financial assets of businesses and individuals Require strong computational, analytical, and interpersonal skills

Finance Careers Categories: Accounting Banking services Corporate finance Insurance Securities and investments

Finance Careers: Accounting Record, classify, summarize, analyze, and communicate a business’s financial information and business transactions for use in management decision-making Participate in such activities as bookkeeping, systems design, analysis, and interpretation of accounting information

Finance Careers: Accounting Job examples: Accountant Auditor Bookkeeper Cost analyst

Finance Careers: Banking Services Accept deposits, lend funds, and extend credit Manage cash, short-term investments, mortgages and other loans, credit cards, and bill payment

Finance Careers: Banking Services Job examples: Loan officer/counselor Credit analyst Trust officer Branch manager

Finance Careers: Corporate Finance Manage policy and strategy for (and the implementation of) capital structure, budgeting, acquisition and investment, financial modeling and planning, funding, dividends, and taxation

Finance Careers: Corporate Finance Job examples: Cash manager Capital budgeting specialist Project analyst Treasurer

Finance Careers: Insurance Protect individuals and businesses from financial losses Deliver “products” that transfer risk from an individual or business to an insurance company

Finance Careers: Insurance Job examples: Insurance agent Underwriter Claims adjuster Loss control manager

Finance Careers: Securities and Investments Support the flow of funds from investors to companies and institutions Provide services including financial planning, asset management, mutual- or hedge-fund management, and custody services

Finance Careers: Securities and Investments Job examples: Securities sales agent/broker Investment banker Mutual fund manager Financial analyst

Marketing Careers Include opportunities whose processes create, communicate, and deliver value to customers and manage customer relationships in ways that benefit the organization and its stakeholders

Marketing Careers Categories: Marketing communications Marketing management Marketing research Merchandising Professional selling

Marketing Careers: Marketing Communications Engage in marketing activities that inform, remind, and/or persuade the targeted audience of ideas, experiences, goods/services, and/or images Use techniques including advertising, direct marketing, digital marketing, publicity/public relations, and sales promotion

Marketing Careers: Marketing Communications Job examples: Account executive Public-relations manager Media buyer/planner Marketing- communications manager

Marketing Careers: Marketing Management Participate in all marketing functions, including channel management, marketing information management, pricing, product/service management, promotion, and selling Can be involved in a number of different industries, including sports, fashion, food, and travel

Marketing Careers: Marketing Management Job examples: Marketing specialist Marketing manager Product/Brand manager Marketing director

Marketing Careers: Marketing Research Engage in marketing activities that involve determining information needs, designing data- collection processes, collecting data, analyzing data, presenting data, and using data for marketing planning Look for meaningful clues about what customers need and want and why customers do what they do

Marketing Careers: Marketing Research Job examples: Market research interviewer Market research analyst Market research supervisor, manager, or director

Marketing Careers: Merchandising Focuses on efficient and effective product planning, selection, and buying for resale

Marketing Careers: Merchandising Job examples: Buyer Merchandiser Merchandise manager or division manager

Marketing Careers: Professional Selling Perform marketing and management activities that determine customer needs/wants and respond through planned, personalized communication to influence purchase decisions and enhance future business operations

Marketing Careers: Professional Selling Job examples: Sales agent Sales representative District or regional sales manager

B Describe traits, skills, and educational require-ments needed for success in business careers.

Educational Requirements for Business Careers Ideal—bachelor’s degree or higher Helpful degrees include: Business Business administration Management Marketing Accounting Finance Economics Communications

Educational Requirements for Business Careers On-the-job training Special certifications and licenses Continuing education Professional development

Skills and Traits for Business Careers Math skills Communication skills “People” skills Computer/Technology skills Decision-making/ Problem-solving skills Creativity Enthusiasm/ Good attitude Trustworthiness Flexibility Self-confidence

Business careers you’ve observed What skills and traits are required? Which appealed to you?

Internet diploma Is it a good idea?

Acknowledgments Original Developers: Sarah Bartlett Borich and Lelia Ventling, MBAResearch Version 2.0 Copyright © 2014 MBA Research and Curriculum Center

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