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Careers in Business Professional Development LAP 15 Objectives: Identify types of careers in business. Describe traits, skills, and educational requirements needed for success in business careers. Identify types of careers in business. Careers in business: • Come in many shapes and sizes • Are very appealing • Have endless possibilities • Vary so much that you may be considering one without even knowing it! Many different ways to sub-divide business careers For this LAP: Management and Administration Finance Marketing Career opportunities that are dedicated to: These jobs are everywhere! • Performing dynamic business processes vital to the success They keep of a and ongoing existence businessbusinesses organization running smoothly. • Regardless of: The sector or industry in which the business functions The product or service it provides Administrative Services Facilitate business operations through a wide range of duties, including: Information and communication management Data processing and collection Project tracking Administrative Services Often referred to as support staff positions Exist in any area of a business Examples: Executive assistant Customer-service representative Business Information Technology Examples: • An umbrella term covering those careers that • provide a bridge between business processes/ initiatives and IT (information technology) • Project manager Employees helpprocess align business and IT goals. • Business architect • Functional specialist Corporate/General Management Careers focus on planning, organizing, directing, and evaluating part or all of a business organization through the allocation and use of: Financial resources Human resources Material resources Employees: Have supervisory responsibilities Make decisions, either big or small Examples: Store manager Director Owner Human Resource (HR) Management • Careers focus on the staffing activities that involve employee: • Planning • Recruitment • Selection • Orientation • Compensation • Training • Safety • Performance appraisal • HR careers are all about people. • Every business has employees. Human Resource (HR) Management • Being an employer comes with certain responsibilities. • Those who work in HR serve as a link between top management and employees. • Examples: • HR generalist / manager • Recruiter • Training manager Operations Management • Careers focus on planning, organizing, coordinating, and controlling the resources needed to produce/provide a business’s goods and/or services. • Examples of activities: Quality control Scheduling Procurement Warehousing • Examples: • Purchasing manager • Chief operations officer (COO) • Master scheduler Career opportunities that relate to making strategic decisions to report, obtain, save, protect, and grow the financial assets of businesses and individuals Wide variety of opportunities Accounting • Encompasses careers that record, classify, summarize, analyze, and communicate a business’s financial information and business transactions for use in management decision-making • Activities such as: Bookkeeping Systems design Analysis Interpretation Accounting • Examples: Accounting clerk Public accountant Auditor Banking Services Primarily concerned with: Accepting deposits Extending credit Lending funds Services include: Cash management Credit cards Short-term investments Bill payment Mortgages and other loans Banking Services Services are delivered via a number of different institutions: To From newer commercial venturesbanks through: and other traditional means: •• Insurance companies Savings and loan associations • Brokerage houses • Credit unions •• “Internet” Local banks Examples: • Loan officer/counselor • Branch manager • Credit analyst Corporate Finance Function in a company to manage policy and strategy for (and the implementation of): Capital structure Budgeting Acquisition and investment Financial modeling and planning Funding Dividends Taxation Examples: • Financial clerk • Foreign exchange manager • Cash manager Industry exists to protect individuals and businesses from financial losses. Delivers “products” that transfer risk from an individual or business to an insurance company Examples: Insurance agent Benefits consultant Underwriter Securities and Investments Industryservices Related Examples: consistsinclude: of: • Securities Brokerageplanning Financial sales firms agent/ • broker Investment Asset management banks • Financial planner/advisor • Hedge Stock exchanges fund management •• Investment banker All of these Custody services support the flow of funds from investors to companies and institutions. Career opportunities whose processes: Create, communicate, and deliver value to customers Manage customer relationships in ways that benefit the organization and its stakeholders Marketing Communications Involves marketing activities that Examples: inform, remind, and/or persuade • Marketing-communications the targeted audience manager Examples of techniques: • Public relations • manager Advertising • Media Direct marketing buyer/ • planner Digital marketing • Publicity/public relations • Sales promotion Marketing Management Employees can be in functions, a number Careers involve Examples: allinvolved marketing of different industries, including: including: • Marketing Sports Channel management specialist • Marketing Fashion Marketing-information director management • Marketing Travel Pricing manager • Product/service management • Promotion • Selling Marketing Research Employees Jobs focus look on marketing activities that involve for meaningful clues about: determining information needs, such as: Examples: • What customers Designing data-collection and want processes • need Market analyst • Why customers Collecting data do Market research what they do manager • Analyzing data •• Product analyst Presenting data • Using data for marketing planning Merchandising Careers involve marketing activities that are focused Examples: on efficient and effective: • Buyer • Product planning • Merchandise manager • Selection • Merchandising coordinator • Buying for resale Professional Selling Careers involve marketing and management Examples: activities that: • Sales agent Determine needs/wants • Salescustomer representative Respond through planned, personalized • Sales manager communication to: Influence purchase decisions Enhance future business operations Describe traits, skills, and educational requirements needed for success in business careers. Education The best career prospects are available to candidates who have earned a bachelor’s degree. Many different degrees can lay a solid foundation for a business career: • Business • Business administration • Management • Marketing • Accounting • Finance • Economics • Even communications Education You will most likely receive on-the-job training when you start a new position. • May be formal or informal • Will be invaluable to you as you add to your skill set Education Some positions require special certifications or licenses: • Stock broker • Real estate agent Education Continuing education and professional development is important as well. • Learn new skills or update the skills you have. • You might: • Go back for your graduate degree. • Participate in workshops or seminars specific to your career. Skills and Traits Math skills Communication skills “People” skills Computer/ Technology skills Decision-making/ Problem-solving skills Creativity Enthusiasm/ Good attitude Trustworthiness Flexibility Self-confidence Throughout the next week, try to notice careers wherever go.the business In your notebook, keep trackyou of all business careers you encounter. How many might you encounter each day? What types of skills and personality did each person exhibit? traits The restaurant manager at the diner where you always eat breakfast What careers appealed to you? The payroll clerk who hands you your check at your part-time job The banker who cashes that check Kathleen’s Dilemma She wants an online business degree. She has limited funds. School she finds: Inexpensive No homework or tests Unclear accreditation What should she do? Acknowledgments Original Developers: Lelia Ventling and Sarah Bartlett Borich MarkED Version 1.0 MarkED Resource Center Copyright 2007 Digital-based photography sources: Liquid Library Various images used in this presentation are ©2004 Liquid Library. All rights reserved http:www.liquidlibrary.com Microsoft Clip Gallery Live Various clipart used in conjunction with PowerPoint 97® Clip Art, Microsoft® All rights reserved One Microsoft Way, Redmond, WA , 98052-6399 USA http://dgl.microsoft.com Screen Beans Business Communication, Office Live, Problem Solving Images 1995-98 A Bit Better Corporation Los Altos, CA http://www.bitbetter.com/ 750 Second Street, Encinitas, CA 92024 Copyright: All photographic digital images on this CD are owned by the aforementioned photographic resources or their licensors and are protected by the United States copyright laws, international treaty provisions, and applicable laws. 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