INDUSTRY INSIGHT

The management sector today

Do you like to be in charge of other people? Do you get a buzz out of meeting deadlines? Do you like to think creatively to solve problems? A career in management involves all this and much more.

It is also about getting things done, running things, and making sure they work – usually with the help of other people.

All organizations need good management to make sure their business works efficiently. Managers work in finance, retail, government, advertising, media, law, charities and hospitals. Whatever the sector, there are management opportunities open to you.
What does a manager do?
This really depends on what type of manager you are, but let’s take an example. Imagine you are a manager of a supermarket like Shoprite. You would have loads of things to sort out on a daily basis.

Your responsibilities might include:

* making sure you have enough staff to work in each department
* overseeing decisions about ordering and delivering goods
* dealing with customers’ complaints
* motivating staff
* coming up with new ideas to improve the service
* dealing with administration/paperwork.

Although the job of a manager is very broad, any management job can be broken down into three main areas:

* fixing problems (dealing with any problems from staff, customers, or faulty equipment)
* keeping things going (completing paperwork such as processing invoices needed to keep a     service in operation)

* doing new things (generating new ways of doing business, particularly if it saves money
or generates extra income).

Different types of management
Management can vary greatly in different contexts and your experience will be affected by all of the following:

Environment and culture – being a manager of a supermarket, for instance, will feel very different from being a manager in a financial institution: each work environment has different values and aims.

Level of responsibility – as a junior manager, you will be more involved in ‘hands-on’ management such as making sure things are run properly, serving customers and generally mucking in. As you become more senior, you will have grander issues to consider, such as the strategic direction of an organization.

General versus specialist managers – as well as general management, people are often recruited to work on specific projects. If you like a specific focus and the option of not always having to manage lots of teams, project management could be for you. Managers can also work in particular functions such as human resources (HR), sales and marketing, logistics, finance and IT. Specific knowledge and qualifications are usually required for these roles.

Entry routes
These are three of the most common ways to get into a management role:
* through a graduate management training scheme (this usually occurs within the manufacturing sector)
* by joining an organization in an administrative capacity and working their way up
* by training in a specific function (HR, finance, marketing, sales, etc) and then moving into a specialist or generalist management role.

JOB ROLES

(The categories here are Human Resources; Management Accountancy; Supply Chain Management; Company Secretary; Self Employment)

*Human Resources

People power: working in HR

Human resources (or personnel) is a diverse sector that offers the opportunity to work in – and influence – a wide range of business activities.

In simple terms, human resources (HR) is about the management of people. As such, it covers a wide range of activities, and each one plays a key role in shaping how organizations and their biggest assets – their staff – perform.

HR departments are found in all sectors, and in nearly all medium-size and large organizations. It is also possible to work for specialist HR organizations, such as recruitment agencies or training companies.

What’s involved?

Activities commonly covered by HR are:

* recruitment
* employment policies
* employee communications
* upkeep of staff records
* salary and benefits policies
* employee development
* performance measurement
* health and safety
* change management
* management information reporting.

The nature of HR’s involvement in these issues varies. In some larger businesses HR is divided into specialist departments, such as recruitment and training and development.

Initially, new recruits usually manage day-to-day issues such as recruitment, record-keeping, and liaison with payroll. Eventually they take on a more consultative role, advising managers of other departments on key HR issues, such as staff performance.
Senior HR managers operate at a strategic level, working on company-wide issues such as salary and reward schemes and organizational structure.

HR employees also have a key role in managing change within organizations. This may be internally-led, such as company restructuring, or prompted by external factors.

Making applications:
A background in business studies, especially with an HR specialism, can be an advantage, though it’s not essential. Work experience is a good way to show commitment to HR and develop key skills.

Employers look for:
• excellent communication skills
• persuasiveness/negotiation skills
• the ability to present and defend points with confidence
• logical thinking
• numeracy
• problem-solving ability
• organisation skills
• tact and discretion.

*HR/personnel manager

What they do:

* organize and co-ordinate the recruitment and selection of new staff
* design and implement staff appraisal systems and develop effective training policies
* advise general managers on staff disciplinary issues
* monitor UK and EU legislation on employment policies
* advise senior management on pay and conditions, retention
* rates and business policy affecting employee relations
* keep up to date with best practice in recruitment and selection
* maintain staff records.

Key skills:

* business awareness and the ability to translate an organisation’s commercial objectives into HR policies
* excellent administrative skills
* ability to negotiate, mediate and resolve issues
* interpersonal flair
* ability to analyse
* a flexible attitude, ability to adapt to changes.
Training
Employees can study for the recognised HR qualification through the Chartered Institute of Personnel and Development (CIPD). One-year postgraduate courses in personnel or human resource management are also available.

Professional bodies
Chartered Institute of Personnel and Development (CIPD).

*Management Accountancy

Management accountancy and the CIMA

If you want to play a vital role in today’s business world, a career in management accountancy could be for you.

The traditional image of dull, grey-suited accountants is becoming a thing of the past as more and more graduates are attracted to a career in management accountancy – a profession that offers generous salaries and varied career prospects.

Management accountants are specialists in providing information and advice to managers in all kinds of business organizations. They differ from financial accountants because they work in general management roles, compiling financial accounts of businesses or advising companies on their tax situation and on ways to invest their profits. In other words, management accountants use information to push a business forward, rather than concentrating on financial accounting and auditing.

Management accountants combine a high level of financial expertise with excellent business acumen, which makes them essential to every business, regardless of sector.

Professional bodies
CIMA is the only professional organization that trains accountants solely for business.

Globally, CIMA has over 65,000 members and 85,000 students in 156 countries. CIMA-qualified accountants work in industry, commerce, the public sector and with not-for-profit organizations.

Training and development
Many management accountant trainees are given the opportunity to study while working, and some employers pay for study leave, course fees and exams.

Graduates can take advantage of the CIMA Fast Track scheme, using a finance, business or accounting degree to earn exemptions from certain foundation-level exams.
 
CIMA-qualified management accountants are able to show employers that they have developed the key decision-making, management, strategic and analytical skills that are essential for any business-focused professional today.

*Supply chain management

Stocking the shelves: supply chain management

Supply chain management plays a key role in diverse areas. If you want a career that offers early responsibility and high earning potential, it could be right for you.

Supply chain management (SCM) is about getting the right goods to the right place at the right time, as efficiently as possible. SCM ensures that no organization ever runs out of what they need, from supermarkets and brewery companies to the food and beverages organizations.

SCM is unique as it goes far beyond the boundaries of an individual organization, from their supplier’s supplier to their customer’s customer.

Effective SCM doesn’t just save money or increase profits, it reduces waste, helps the environment and can even save lives: getting relief to the tsunami victims was essentially an exercise in supply chain management.

What’s involved?

The role of the supply chain manager varies widely. Some are closely concerned with physical distribution, which in retail involves a lot of activity at night, as the roads are quieter.
Customers may literally be next door, or they may be on the other side of the world. Interaction with suppliers may be based around very sophisticated IT systems, or it may involve traveling to distant factories and negotiating with them in person.

The idea of SCM as a discipline that crosses boundaries is relatively new, and so many SCM posts, especially at junior level, have other names: procurement, logistics, distribution, inventory management/stock control, or transport management.

At the highest levels, SCM is a strategic function that can make or break organizations and SCM Directors at Board or near-Board level are now relatively commonplace (and highly paid).

Graduates may start their careers in a fairly narrow sub-discipline, but for those that have vision and a range of skills, there is no limit to the possibilities.

Jobs for graduates
The most well-known SCM jobs are in chains that end with a sale to a consumer, such as oil marketers like Oando. In industry, companies such as Nigerian Breweries and Guinness depend on efficient SCM.

But SCM is also vital outside manufacturing. The health service depends on being supplied effectively of what patients need. Major international charities, such as Oxfam, depend on supply chain professionals to deliver the right forms of aid promptly. Even banks and finance houses have SCM requirements. Someone has to ensure that customers get their new cheque book or ATM card just before the old one expires.

Many firms outsource elements of their supply chain – particularly transport and distribution – to companies like Exel, and there are opportunities here too.

The reverse supply chain – the process of getting rid of waste products in a way that is affordable, but environmentally friendly – also involves many SCM skills, this is usual in the oil and gas sector

Making applications
A degree in almost any subject is suitable, although in areas such as aviation or pharmaceuticals, a sector-specific degree may be an advantage.

Specific IT skills aren’t always necessary, but a commercial understanding of how IT can be used is important. Interpersonal skills are vital, as a large part of SCM is liaising with suppliers and customers. As many supply chains have partners around the world, languages can be an advantage.

There are many postgraduate opportunities for development, and SCM is now a core subject in most MBA programmes.

Supply chain managers
Purchasing managers 

What they do?
Purchasing and supply management involves working with the company’s internal customers to identify their requirements and then obtaining the necessary products and services by negotiation and agreement with suppliers. The primary objective is to obtain value for money – not just the lowest possible price.

Key skills:

* financial management
* contract management
* negotiation skills
* change management, communications and a broad business
* appreciation
* networking
* strong interpersonal skills.

Training
The Chartered Institute of Purchasing & Supply (CIPS) Graduate Diploma shows that the holder has demonstrated a sound technical knowledge and understanding of the subject through rigorous examination.

Transport managers

What they do?

* manage people, equipment and finances involved in the transport of people or goods
* attend incidents and conduct safety and performance investigations
* ensure health and safety regulations are adhered to and make recommendations for improvements
* update budgets and ensure estimates take full account of all fixed and ongoing costs
* manage large teams of staff who are often in various locations around the country.

Key skills:

* capacity for looking at problems in a new way
* ability to stay focused in the face of criticism
* IT skills
* ability to remain calm under pressure and make logical decisions
* methodical approach, particularly when dealing with lots of incoming data
* first-rate interpersonal skills.

Training
The training comprises of formal education, project work and on-the-job training.

Production manager 

What they do?

* manage the operation of production processes
* direct and motivate the workforce, often through supervisory staff
* ensure that quality standards are consistently met and quality controls are in place
* maintain good industrial relations, keeping staff regularly informed of changes
* liaise with other management professionals
* allocate the resources of the plant and of staff in the most effective proportions to meet targets.

Key skills:

* ability to meet tight deadlines
* ability to remain calm under pressure
* good communication skills, particularly the ability to influence and persuade others
* IT know-how
* organisational flair
* ability to motivate others
* an understanding of how production fits in with the rest of the business.

Training
Much training is on-the-job, supplemented by short courses where relevant. Prior relevant experience and a technical background can be important.
 

Business planning manager

What they do?

* review current organisational effectiveness and make recommendations for improvements
* monitor the effectiveness of specific projects to see whether or not their objectives are being met
* work on various initiatives with members of the management team with a view to controlling costs or generating new streams of income
* recommend possible ways of improving the efficient and most effective use of staffing, materials, equipment and other resources
* analyse any information that affects business performance in any area and predict possible outcomes and remedial measures.

Key skills:
* good problem-solving skills
* creative thinking
* a strong focus on targets and objectives
* the ability to work well with other management professionals
* good communication skills (particularly the ability to ‘sell’ the benefits of organisational change to others)
* action-minded – being able to implement recommendations.

Training
Becoming a business manager often follows from having had experience in other management areas. However, there are some training schemes offering direct routes into this function. These schemes usually last from anywhere between 12 and 24 months and include a mixture of on-the-job training, residential courses and professional qualifications.

Professional bodies
There is not a specific professional body for business (planning) managers, but membership of the Nigerian Institute of Management is certainly appropriate.

Company secretary

What they do?

* ensure that a company complies and operates in accordance with statutory and legal provisions, advise managers on questions of company law and agreements
* arrange board and committee meetings, preparing and circulating agendas, recording minutes and papers for board and committee members
* act as senior executive of the company by communicating board decisions to those required to implement them
* manage the work of the company’s registered office, registering all dealings in the company’s shares including payment of dividends, arranging the AGM of shareholders and lodging a copy of the annual report and accounts with Companies House.

Key skills:
* good written skills and command of English
* discretion when handling confidential information
* keen eye for detail and good knowledge of company law
* ability to meet multiple deadlines
* numerical ability.

Training
Trainees must complete a period of relevant work experience and pass the four-part examination of the Institute of Chartered Secretaries and Administrators. Some company secretaries have trained as accountants or lawyers.

Professional bodies
The Institute of Chartered Secretaries and Administrators.

Self employment

Self-employment and franchises:

For those who want to take charge, but don’t want to follow a traditional management path, self-employment or running a franchise are attractive options.

Running your own business

Self-employment is continuing to increase as more and more people decide to take up the challenge and strike out on their own.
Self-employment is demanding and risky. You don’t have paid holidays or sick leave to fall back on, and have to be prepared for slow periods and isolation.
But it can be satisfying too. You’re your own boss and the rewards for your hard work go into your own pocket.

Skills you’ll need include:

* self-motivation and self-reliance
* a good business idea and continuing creativity
* good communication skills
* responsibility and the ability to make decisions
* attention to detail
* the ability to handle several tasks at once
* common sense and realism
* basic financial ability
* courage.

Don’t do it if…
· …you’re doing it because you can’t think of anything else to do
· …you’re not prepared to work hard
· …you haven’t done your research properly.

Franchising
Franchisees pay to use an established trade name and business idea. Fast-food chains such as Nandos and Chicken Licken are franchises, so is Protea, the hotel chain.

Franchisors have a brand to protect and so want to be sure that their franchisees are talented, dedicated and will work hard to make a success of their business. Failure rate for franchises is far lower than for totally new businesses as they are part of larger organizations that:

* offer something already proven in the marketplace
* often advertise nationally and internationally
* train their new franchisees
* can give discounts on bulk purchases
* act as a support network.

As with any form of self-employment, being a franchisee involves working long, and often anti-social, hours and franchisees are unlikely to make much profit during the first couple of years.

Self-employment: getting started

You need capital to set up a business.

Many students leave university with no money or even in debt, and have no capital to invest in a business and probably no assets to offer as security. Under these circumstances, banks are unlikely to agree a loan, although if you have a well-developed business plan it’s worth approaching them.
 
You can economise by working from home if the premises are suitable. But don’t try and cut corners on professional services. You will need a good accountant (although you can do the book-keeping yourself) and possibly a solicitor too.
 
Be realistic when making financial forecasts, and don’t forget that you will need enough money to cover your living costs while you get your business off the ground.

SKILLS REQUIRED

Skills: a foot on the ladder

A degree no longer guarantees a job. Employers also want to see evidence that you’ve developed the transferable skills that are essential in the workplace.  

Transferable skills are qualities or abilities that are developed in one context, such as your degree or work experience, but can be applied to any situation.
Surveys of employers, and analysis of recruitment literature and websites, show that the transferable skills employers look for include:

* communication skills
* the ability to work well in a team
* business acumen
* problem-solving ability
* flexibility and adaptability
* initiative
* leadership potential
* good judgement
* integrity.

Top ten skills desired by management recruiters:
1. Determination and dedication
2. Exceptional people skills
3. Excellent communications skills
4. Ability to work with people at all levels and lead by example
5. High level of motivation
6. Enthusiasm
7. Flexibility
8. Charisma
9. Integrity
10. Aspirations to rise to a leadership role at a senior level.

What is business acumen?
Leading employers often cite business acumen as a desirable quality for students and graduates to develop. Similar terms are commercial or business awareness and commercial or business focus. If you have business acumen, this means that you have an interest in business, you understand the importance of being client-focused, and you understand the basics of what makes a business successful.