Monthly Archives: January 2013

Practicality of Management Education

It’s a dream for any student to do post graduation in management. Lots of management institutes have come up in last two to three years. Students have a lot of choices today. But students should be careful about the institute they choose. It’s as important as choosing your career path.

Just getting a degree of management course is not enough. Ultimately a student has to make a career in the corporate world. Today’s corporate world is lot different than what it was 10 years ago. Today the Global economy is much more interlinked. Problems in one part of the world spread like wild fire to other parts of the world. As we know western economies are in trouble. Greece is facing a crisis. This crisis has put a question mark on the existence of Eurozone. If no solution is found for this problem quickly, again the entire world will have a bad time. Also economies are much more open today. We can make it out from our own economy. Almost all sectors have been opened up. Earlier a few business families used to dominate Indian markets. There was a license raj. It was easy for these business houses to manage competition and customers. Customers were the ultimate losers who got bad products and services.

Now the scene is totally different. Sectors have been opened up. Competition has intensified across sectors. Customer has ample choices. Getting good growth has become difficult. Corporate executives are under tremendous pressure to deliver.

Today’s management graduates are supposed to work in such a scenario. Not only are they supposed to work but also deliver. Just classroom inputs are not going to help students to survive and grow in their careers. Many of the institutes are just doing that. They are just offering classroom inputs supplemented by some minor practical assignments. Students get certificate at the end of two years. But this certificate doesn’t mean that they are ready to deliver in practical world. Because ultimately what matters is how student applies concepts in the real life situation to get results. Just because a student is management graduate doesn’t help him in having fast track career.

That is why when student chooses management institute he should be careful. He should look at the contents of course apart from other things. Course should have practical perspective. Syllabus should be integrated with the industry so that during two years not only he learns concepts in the classroom but also gets a chance to apply them in the real life situation. When syllabus provides this opportunity, he gets ready to perform in the corporate world. Today so many management graduates pass out every year. If one tracks their career, not everybody makes it to the top. Only a few management graduates reach the top. All those lose out had only degree. But they were not ready to fulfill the requirements of corporate world. Blame goes to institutes which didn’t mould students in two years as per the requirements of industry. That is why students should choose only those institutes that really prepare and mould them to take on the big bad corporate world.

How to Determine If Online Management Education Is Right For You

Management activities can be categorized into process groups that represent project activity phases. This specifies all the management processes or activities that are used or required by the project team to manage any project in any industry. While the focus of the management course is not on general management or inter personal skills, such skills are essential qualifications and a review of sample job descriptions suggests that most organizations require them. The manager must have organizational and interpersonal skills such as: The push to breach classroom walls has accelerated and will continue unabated during the remaining years of the opening decade of the twenty-first century. These courses will flourish only to the extent that they serve the desires of students. The genie is out of the computer and it has already grown too large to shove back in. While the for-profit sector of education first generated the greatest activity on behalf of online learning, mounting pressure will force traditional institutions to respond to students who increasingly will demand the right to determine the time and place of their learning.

Some educationists regard online MBA as device apart, an alternate pursuit forever marginalized at the fringes of institutions. They are mistaken. I try in this article to provide a comprehensive look at a large and unfolding phenomenon. The Online Learning sets a context for thinking about online courses in both K through 12 education and higher education; it also provides a global perspective for considering the role that this new delivery system might play. Online MBA details some of the history of distance learning MBA and begins a discussion of the main elements of online executive MBA.

Online MS in IT describe the role of management in It companies and how to deals within the IT organization as well as dealing with clients. The adaptations required of those involved in online courses are the main thing that is appreciated. Teaching faculty additionally serves as directors, prompting when the production starts to slow down, providing the framework and the theme to which everyone works. These courses are not only complete pictures, but are rather the product of the faculty member’s own view and ideas. Ideally, they are a framework on which students can hang further knowledge as and when they acquire it. Management faculties are expert in the processing and use of knowledge. Guides, whose function is to help online MBA students learn of specialist expertise and knowledge, the management of their own research and interests Independent minds, unbiased and judging what they see and hear impartially.

On the classroom stage faculty will be exercising all four of these roles usually simultaneously. Their job is not so much to guiding classroom sessions drawing on their own resources as intelligent agents and from their specialist expertise Then too, unlike the real classroom where 99 per cent of all communication is oral, the virtual classroom usually requires written communication.. It is harder working in a virtual classroom, but the benefits can still be reached. Furthermore, even if structures were built money for books, laboratories, supplies, and teachers would be scarce.

How to Obtain an Online Hospitality Management Education

The field of hospitality is used in a variety of industries. Students can enter online training in hospitality management and learn how to plan and manage various aspects of the field such as events and employees. Obtaining an education online is possible when students enroll in a college or university that offers this degree.

Education trains students how to maintain the daily function of restaurants, entertainment companies, and other lodging businesses. The main goal is to train students how to actively participate in the stay of individuals to ensure they have a satisfying experience. Many aspects and departments inside a company go into this goal and online education teaches students how to coordinate them. Students that want to enter this field can obtain an education by completing a training program. Schools provide students with training opportunities at the associate’s, bachelor’s, and master’s degree level. Two factors may go into choosing an online program, which include time and career goal. Students should decide how much time they can dedicate to schooling. For example, an associate’s degree program typically lasts two years compared to a four-year bachelor’s degree program. Career goals may be the deciding factor because some positions may require a bachelor’s degree and others may require employees to have a master’s degree.

To gain a strong knowledge base, students should complete an associate’s degree program. Students learn the needed management skills to gain entry-level positions. Business principles and specific hospitality practices are discussed and learned within an online program. Common educational courses could include:

Purchasing
Catering
Accounting

The skills learned inside an associate’s degree program give students the needed knowledge to work as guest services managers, dining room supervisors, and more.

Bachelor’s degree programs provide students with a complete knowledge of hospitality management. Online learning covers the business of hotels, convention centers, resorts, and more. Students that have already completed an associate’s degree program can transfer credits and complete a bachelor’s degree program in less time. Management techniques are explored in order to prepare students for the professional workplace. Students learn how to maintain a fully functioning establishment. Tasks learned may include working with disgruntled guests, fixing food problems, and arranging transportation for travelers. No matter what specific focus a concentration places on a program students will work through the same core course, which may include:

Marketing
Information Services
Human Resources

Event planners, hotel managers, and culinary arts supervisors are some career possibilities for students that complete online education at this level.

Students that want to enter upper-level management, entrepreneurship, or teaching careers should complete an online master’s degree program. Education explores advanced management practices and research to learn new methods of improving the industry. Common courses could include:

Statistics
Business

Students can enter careers as professors, consultants, entrepreneurs, and corporate directors when they complete this level of education.

Online training provides students with an effective plan to obtain an accredited education. Fully accredited schools and colleges are able to offer students the quality education they deserve. Agencies like the Accrediting Commission of Career Schools and Colleges http://www.accsc.org/ are approved to fully accredit qualifying programs. Complete a degree program in hospitality management and enter a career in this large industry.

Why Customer Experience Management Education is Important

Customer experience: When selling takes a back-seat
Traditionally, the focus of marketing efforts has been on selling. However, the concept of customer experience, which was introduced by Pine and Gilmore in the Harvard Business Review, proves that successful business influences users through engagement and genuine experiences that add value to the users.

What exactly is customer experience?
It is defined as “the sum total of the interactions that a customer has with a company’s products, people and processes”.

Thus, users who have perceived a positive interaction with a particular brand are not only more likely to spend more, but are likely to share their experience with other users. Thereby, a satisfied user becomes an advocate for that brand in addition to having a longer lifetime value to the firm.

Brands are aware of the high cost of new customer acquisition, thus it makes sense to convert an existing customer to a loyal one. Loyalty towards a brand is determined by the quality of a company’s interaction with its customers and how well it satisfies their needs.

What are the benefits of improving customer experience?
Helps you score over competition rivals: At a time, when there is not much of a differentiators between competing products and services, a great customer experience could be the factor that converts an occasional user into a loyal consumer.

For eg: Despite spending less than $10 million on advertising from 1987 to 1998, Starbucks managed to open an additional 2000 stores to accommodate their increasing patrons.

Increased customer loyalty: A great experience will ensure that customers will stay loyal to the brand and promote it within their social circles.

Reduce operation costs and increase revenue: Today, a number of businesses have realized that service is the new sales. By improving the customer experience, a company can reduce the costs of customer service as well as up-sell and cross-sell their new product offerings and upgrades.

How will an understanding of customer experience benefit a manager?
Today, the ability of a company to survive and be competitive depends on the quality of its customer experiences. Today, the internet has brought customers and brands much closer. It is easier for brands to get feedback from their users and understand their point of view.

Business Management Education

A seed of opportunity helps business to operate and grow exponentially. Most businesses are inherited or some are started to explore a simple yet big opportunity. Some opportunities reap great results but some fail miserably. Have you ever tried to analyze why things go wrong when there is a real opportunity to prosper? No. Well! Due to lack of proper business management education, it becomes difficult to keep a track of activities that matter most for a business plan.

Without having proper knowledge and information on insights of a business plans, it becomes impossible to overcome hurdles that will come in between the steps. Education necessarily does not mean information or pros & cons of a particular business plan, but, it also includes the over all understanding of handling issues of a business identity. Despite worked for so many years, many people lack basic understanding. Some people find it difficult to change with the time which further poses several problems in practical business environment.

No wonder, company owners need to understand both inside and outside of the business. Without having clear information and understanding, it is quite difficult to overcome problems. It becomes very much important to know the basic understanding of everything right from accounting, marketing, operations, financial analyzing, maintenance etc. Complete ideas about all the components of a perfect business plan will definitely going to help in combating unique international challenges. Start collecting reliable and fruitful reading materials, interact with industry people, learn about new technology, brush your management skills etc to become a better business person.

Changing Trend in Management Education

The entire society and humane life both have changed considerably since that a few years back. Information Technology has increased the pace of development and we have developed hundreds time more in last few years than we had in hundreds of years earlier. Everything has changed tremendously including morals, ethics and significance. So is true for education patterns and traditions. Here is what management education in India lacks most and what needs to be done to develop successful global entrepreneurs.

Earlier students were forced to concentrate and mug up what was written academic books and were forced to take exam on that knowledge only. Anything done on personal observations, skills and knowledge was out of curriculum and worth not considering for awarding ranks. They system was certainly flawed and deterred natural development of children and marred their ideation abilities. Consequently people were living within limited scope and had no access to the things, views, knowledge, and realities beyond their orbit.

With the advent of Information Technology, and most importantly Internet has changed the whole picture and has redefined the meanings and standards both. Today, students are encouraged to realize their own potential of achieving success in the field they may feel inclined to. The world is open at your disposals and only sky is the limit. Results are obvious, even young students are doing wonders in the world.

The same change has been introduced in professional level of education, like management studies. Students are provided internship and practical exposure of the situation, but to a limited extent only. Therefore they are still unable to emerge fully confident even after completion of their degrees and diploma programs. In fact, the things should have been upside down.

These professional courses should be more on real life industrial exposures and less on literature. The reason is the speed by which the world is changing. Teaching from the books written years before would not be inducing a practical approach and realistic behaviour in students. They need to be made aware about the current business scenarios with direct exposure to industrial affairs.

There are some institutes which have identified this deficiency of the existing management courses and, in order to make its students more competitive in global environment, has introduced Academia Industrial Interface in its curriculum, wherein the institute involves industry into education process of its students. They invite representatives of leading industries and share their real life experiences and current and emerging requirements from new age employees and professionals. The institute provides extended opportunities to its students to work in organizations on internship for a longer period than usual. The concept has clicked and more and more of its students are achieving success in jobs and businesses both.