2. Management
Management is the process by which we
achieve desired results through efficient
utilization of human and material resources.
(Dedeian, 1993)
3. Careers in the Management Field
(With focus on areas that are beneficial to Finance and Accounting )
Human Resource Management (HCM)
Management Consulting
Entrepreneurship
General Management
Operations Management
Non-Profit Organization Management
5. Human Resource Management (HRM)
The HRM 10 Professional Areas:
1. Strategy insights and solutions
2. Leading and managing the human resources function
3. Organization design
4. Organization development
5. Resourcing and Talent planning
6. Learning and talent development
7. Performance and reward
8. Employee engagement
9. Employee relations
10. Service delivery and information
7. Human Resource Management (HRM)
No organisation can survive without Resourcing :
It deals with the aspect of recruitment and selection
8. Human Resource Management (HRM)
Learning and Development:
It is a continuous organisational activity aimed at
improving the performance of all individuals in a company.
9. Human Resource Management (HRM)
3-Clusters 8 behaviors:
I. Insights and influence
1. Curious
2. Decision thinker
3. Skilled influencer
II. Operational excellence
4. Driven to deliver
5. Collaborative
6. Personally credible
III. Stewardship
7. Courage to challenge
8. Role model
10. Human Resource Management (HRM)
Skills and Competencies to acquire while in school:
1. Write management professional exams and trainings in that
respect e.g. CIMP, CIPD, NIM, HRBP, etc.
2. Learn how to write and appraise CVs/Resume.
3. Learn questioning, listening and attitude skills, i.e.
interviewing skills.
4. Be familiar with abbreviations of trade unions.
11. Human Resource Management (HRM)
New HR Professional bodies:
Chattered Institute of Personnel and Development
(CIPD)
American Society for Personnel Administration (ASPA)
Chattered Institute of Personnel Management of Nigeria
(CIPM)
13. MANAGEMENT CONSULTING
Creating a Solid Foundation for business growth and development
Possible Career Paths include:
1. IT Consulting
2. Financial Management
3. Strategy and Operations
4. People and Change
5. Corporate Strategy and Business Planning
14. MANAGEMENT CONSULTING
IT Consulting
Involves, enhancing and protecting the values of
businesses with technological infrastructures.
It is regarded as a field of activity that focuses on
advising organizations on how best to use information
technology (IT) in achieving their business objectives.
In addition to providing advice, IT consultancies often
estimate, manage, implement, deploy, and administer
IT systems on behalf of their client organizations - a
practice known as "outsourcing”.
15. MANAGEMENT CONSULTING
IT Consulting
Competencies include:
1. IT Strategy and Performance: Various goals such as the following are to be
achieved here:
I. IT Strategy and Architecture
II. IT Operations Improvement
III. IT Portfolio and Program Management
IV. IT Governance and Risk Management
2. IT Deal Services
3. Enterprise Applications Solutions: Help for cost saving and functionality
improvement, solutions include:
I. ERP Solutions: e.g. SAP Network, Oracle
Network, JDE Solutions, Microsoft Dynamics,
etc.
II. Enterprise Content Management
III. Risk Technologies
4. Analytics and Information Management
5. Emerging Technologies Network
16. MANAGEMENT CONSULTING
IT Consulting
Skills to acquire while in School:
1. Do as many relevant computer and IT trainings as possible.
2. Work on your Competence, Compensation value and
Productivity.
3. Write professional exams and trainings like CISA, Project+,
ACCA, ICAN, PMP, CCNA, ORACLE, Microsoft Dynamics
Solutions, Networking, Microsoft Security Programs, etc.
20. MANAGEMENT CONSULTING
IT Consulting
Note:
Financial tools to enhance the visibility and control of an IT or
management consulting organization are available, resulting in
confident and smart decisions. All you need to while in school is to
“get basic skills” and create a solid foundation.
21. MANAGEMENT CONSULTING
IT Consulting
Differences between IT Consulting and Management Consulting:
There is a relatively unclear line between management consulting
and IT consulting. There are sometimes overlaps between the two
fields, but IT consultants often have degrees in computer science,
electronics, technology, or management information systems while
management consultants often have degrees in accounting,
economics, Industrial Engineering, finance, or a generalized MBA
(Masters in Business Administration).
According to the Institute for Partner Education & Development, IT
consultants' revenues come predominantly from design and
planning based consulting with a mixture of IT and business
consulting. This is different from a systems integrator in that you do
not normally take title to product. Their value comes from their
ability to integrate and support technologies as well as determining
product and brands
22. MANAGEMENT CONSULTING
Financial Management
Financial management refers to the efficient and effective
management of money (funds) in such a manner as to accomplish
the objectives of the organization. It is the specialized function
directly associated with the top management. The significance of
this function is not seen in the 'Line' but also in the capacity of
'Staff' in overall of a company. It has been defined differently by
different experts in the field.
The term typically applies to an organization or company's financial
strategy, while personal finance or financial life management refers
to an individual's management strategy. It includes how to raise the
capital and how to allocate capital, i.e. capital budgeting. Not only
for long term budgeting, but also how to allocate the short term
resources like current liabilities. It also deals with the dividend
policies of the share holders.
23. MANAGEMENT CONSULTING
Financial Management
The main objective of financial management is profit maximisation,
i.e. when MR=MC.
To tread a career path here be ready to take risks and initiative in
turning a loss making business to profit making one or transform a
business with stunted growth to one with a steady growth.
24. MANAGEMENT CONSULTING
Financial Management
Scope of Financial Management
Estimating the Requirement of Funds: Businesses make forecast on
funds needed in both short run and long run, hence, they can
improve the efficiency of funding. The estimation is based on the
budget e.g. sales budget, production budget.
Determining the Capital Structure: Capital structure is how a firm
finances its overall operations and growth by using different sources
of funds. Once the requirement of funds are estimated, the financial
manager should decide the mix of debt and equity and also types of
debt.
Investment Fund: A good investment plan could bring business
huge return.
25. MANAGEMENT CONSULTING
Financial Management
Competencies include:
1. Efficient Finance Operations
2. Efficient Decision Support
3. Finance Strategy and Transformation
Skills to acquire while in School:
1. Read books on finance and financial management, i.e. books beyond
the class.
2. Write professional exams and trainings like CIS, ACCA, ICAN, NIM, CFA
etc.
3. Join finance clubs.
4. Attend trainings on financial modellings and other packages.
5. Start managing your own finance (Personal Finance).
26. MANAGEMENT CONSULTING
Strategy and Operations
Competencies include:
1. Customer and Growth
2. Supply Chain and Operations
3. Strategic Sourcing and Procurement
4. Innovation and Engineering
5. Operational Strategy
Skills to acquire while in School:
1. Write professional exams and trainings like CIS, ACCA, ICAN, NIM,
etc.
2. Read business reviews of financial and other industries.
27. MANAGEMENT CONSULTING
People and Change
Competencies include:
1. Behavioral Change Management
2. Organization Design and Development
3. HR Function Optimization
4. Talent Development
5. Workforce Cost Optimization
Skills to acquire while in School:
1. Write professional exams and trainings like CIPM, CIPD, NIM,
HRBP, etc.
2. Relate with people and develop strong social and interview skills.
28. MANAGEMENT CONSULTING
Corporate Strategy and Business Planning
Competencies include:
1. Corporate Strategy Planning
2. Market Studies/ Feasibility Studies
3. Business Planning
Skills to acquire while in School:
1. Write professional exams and trainings like ICAN, ACCA, etc.
2. Collect, study and analyze business plans.
30. Entrepreneurship
The Concept of Entrepreneurship:
Entrepreneurship is a term used broadly in
connection with the innovative modern
industrial business leader.
31. Entrepreneurship
The 3-Clusters 10 Characteristics of an Entrepreneur:
I. Psychological Characteristics
1. High need for achievement and success
2. Strong desire for responsibility and independence
3. High degree of self confidence
4. Passion for experiments
II. Sociological Characteristics
5. Goal oriented
6. Adapt to changing situation
7. Ability to organize money, men, materials and
machines to achieve goals
32. Entrepreneurship
The 3-Clusters 10 Characteristics of an Entrepreneur:
III. Economic Characteristics
1. Profit Oriented
2. Risk taking ability
3. Ability to innovate and speculate
33. Operations Management
Operations management is an area of management
concerned with overseeing, designing, and controlling
the process of production and redesigning business
operations in the production of goods or services. It
involves the responsibility of ensuring that business
operations are efficient in terms of using as few
resources as needed and effective in terms of meeting
customer requirements. It is concerned with managing
the process that converts inputs (in the forms of raw
materials, labor, and energy) into outputs (in the form
of goods and/or services).
34. WHAT YOU NEED TO KNOW
I need you to understand that some of the practitioners
of these various careers in the industries today do not have
most of these paper qualifications at the start of their
careers but there is a “paperless” qualification which they
have which is STRONG DESIRE AND PASSION for their
areas of interest. Also, part of it is their ABILITY TO THINK
CREATIVELY.
If you know that you could be easily distracted by
engaging in some of these things while in school it’s better
you WAIT till you graduate or engage in effective planning
to take some of these trainings during short and long
holidays.
Just always bear in mind that OUTSIDE IS VERY VERY
COMPETITIVE.
35. References
1. CIPD HR Professional Map Hires
2. E-SAP Foundations HRBP Presentation Slides
3. https://en.wikipedia.org/wiki
4. KPMG Services Offering (2014)
5. NIM Exams study packs.
6. Proviti IT Consulting Services Overview
7. www.google.com
Note: If you have any question or contribution, please send it to
skyefitprofessionalservices@gmail.com
