module k

McGraw-Hill © 2008 The McGraw-Hill Companies, Inc. All rights reserved.

Extended Learning Module KExtended Learning Module KCAREERS IN BUSINESS

Extended Learning Module KExtended Learning Module KCAREERS IN BUSINESS

K-2

STUDENT LEARNING OUTCOMES

1. Identify the career field and business specialization in which you’re interested

2. Provide typical job titles and descriptions for your career field

3. List and describe the IT skills you need to gain while in school

K-3

INTRODUCTION

Business people must possess multiple acumensYou can’t just focus on marketing, for exampleYou need skills in all areasOne important area is information technology (IT)

K-4

ACCOUNTING

Language of businessAccountants communicate financial informationAccountants must understand all areas of business

K-5

ACCOUNTING

Five broad accounting areasPublic practiceIndustryGovernmentNon-profitEducation

K-6

Accounting Jobs

Chief financial officer – usually a VP; responsible for all accounting/finance

Management accountant – records and analyzes the financial information of the organization

Environmental accountant – helps businesses understand their environmental costs and factor those costs into decision-making processes

K-7

Accounting Jobs

Government agent – frequently a law enforcement officer; prepares materials for prosecutors and testifies in court

Internal auditor – ensures that company policies are followed

Public accountant – performs a broad range of functions/consulting functions for variety of clients

Tax accountant – tax planning and tax return preparation

K-8

IT Skills for Accounting

Accounting information systems – all are computerized

Database management – all accounting information is stored in a database

Database design – must understand database design to follow transactions

K-9

IT Skills for Accounting

Wed research – for consulting rules and regulationsSpreadsheet modeling – for extensively analyzing

financial transactions and projectionsNetwork security – for security of information and

financial assets

K-10

ACCOUNTING

K-11

ACCOUNTING

K-12

FINANCE

An important part of all decision makingTracks include corporate finance, banking, and

investmentsDraws from three disciplines

AccountingEconomics (especially micro-economics)Statistics

K-13

Finance Jobs

Corporate treasurer – controlling the cash needs; invests surpluses and acquires cash for shortfalls

Corporate financial analyst – aids in investing corporate resources

Bank loan officer – provides funds for individuals, small businesses, and large corporations

K-14

Finance Jobs

Trust officer – works with personal estate trusts and bond issuers

Security analyst – provides investment information to individuals and institutions

Portfolio manager – works for institutions such as mutual funds or insurance companies

K-15

Finance Jobs

Stock broker – works primarily with individuals to aid in investment in stocks and bonds

K-16

IT Skills for Finance

Spreadsheet modeling – advanced knowledge here is essential

Statistical packages – for measuring the risk inherent in a project

Database management – all finance information is stored in a database

K-17

IT Skills for Finance

Internet and Web portals – for providing investment information to investors

Search engines – for accurately and efficiently gathering information

Technology strategy and innovation – for creating new customer self-service systems

K-18

FINANCE

K-19

FINANCE

K-20

HOSPITALITY & TOURISM MANAGEMENT

One of the world’s largest and most diverse industries

By 2007, $7.1 trillion in this industry, employing 8.3% of the world’s population

Every academic discipline is in hospitality & tourism management

K-21

Jobs in Hospitality

General manager – oversees the entire operation (theme park, hotel, etc)

Controller – responsible for accounting and financial aspects

Director of sales and marketing – sales and marketing activities and group business

K-22

Jobs in Hospitality

Director of human resources – for all staffing and team building

Director of room operations – for all guest services in a hotel

Revenue manager – responsible for setting rates, restrictions, and selling strategies

K-23

Jobs in Hospitality

Food and beverage manager – responsible for purchasing these items and point-of-sale systems; culinary expertise is a plus

IT manager – oversees the various computer systems in the organization

K-24

IT Skills for Hospitality

Personal computer applications – essential for this industry

Hospitality-specific applications – much vertical market software in this industry

Database management – databases are the underlying technology in this industry

K-25


DSS/EIS – for analyzing and interpreting information and making decisions

Electronic commerce – effectively and cost-efficiently reaching consumers and serving them

Distribution channel management – for managing all suppliers to the operation

K-26


Customer relationship management – the guest is the primary reason for being in business

IT strategy – for aligning IT with the business strategy and allocating resources

K-27

HOSPITALITY & TOURISM MANAGEMENT

K-28

INFORMATION TECHNOLOGY

What this book is all aboutIT specialists must know IT, for sureThey must understand all aspects of business to

successfully build and apply IT solutions

K-29

Jobs in Information Technology

Programmer – writes software in a programming language (C++, ASP, etc)

Business analyst – gathers system requirements from end users

Database design/developer – creates database solutions for IT systems

K-30

Jobs in Information Technology

Web Services expert – builds network-based IT systems using .NET, J2EE, etc

Network engineer – designs, develops, implements, and maintains IT networks

Data warehouse analyst/developer – creates data warehouse solutions for decision-making activities

K-31

IT Skills for Information Technology

Programming languages – these are for writing software

Development platforms – integrated environments for developing IT solutions

Databases – the heart of any information management activity

K-32

IT Skills for Information Technology

Data warehouses – for supporting decision-making tasks and business analysis activities

Networks and security – hardware technologies and communications protocols

Multimedia tools – for information not in textual or numeric form

K-33


K-34


K-35

MANAGEMENT

Critical to shaping the future of a businessMust be well-educated, creative, and effectiveThe most eclectic of all business disciplinesFound in every business and in every industry

K-36

Jobs in Management

Project manager – developing strategic and tactical plans for all projects

Retail manager – day-to-day management of a department or store

Business development manager – developing meaningful and profitable relationships with business partners

K-37

Jobs in Management

Human resource manager – deals with hiring, promotion, and termination and hopes to increase job satisfaction

Supply chain manager – managing and improving the supply chain of products and information

K-38

Jobs in Management

Management analyst – defines nature and extent of problems and develops solutions

Entrepreneur – begins a small business and becomes his/her own boss

K-39

IT Skills for Management

Database management and integration – as all types of business information are stored in databases

Internet and Web portals – for finding and accessing information

Spreadsheets – for organizing work, calculating value, developing graphs and charts, and comparing costs

K-40

IT Skills for Management

Enterprise resource planning – for communicating and sharing information corporatewide

Geographic information systems – for understanding and working with spatial information

Electronic commerce – for B2B and B2C success

K-41

MANAGEMENT

K-42

MARKETING

Includes product development, advertising, PR, promotions, and sales

Sell a company’s products and services in a profitable way

Must know CRM, SCM, statistical tools, etc

K-43

Jobs in Marketing

Creative marketing specialist – designs marketing solutions for all media types

Marketing coordinator – manages and directs marketing and ad campaigns

Account manager – manages large accounts, with often only one customer

K-44

Jobs in Marketing

Market research analyst – designs, implements, and analyzes information from market research instruments

Market development manager – defines and develops new market opportunities

Brand manager – drives branding strategies and external communications

K-45

Jobs in Marketing

Product development manager – from customer insights, drives product specifications and quality

Product manager – works for profitability within a product line

K-46

IT Skills for Marketing

Customer relationship management – because marketing is the primary interface to a customer

Budget analysis/impact software – to determine product feasibility

Database management – for working with vast amounts of information in a database

K-47

IT Skills for Marketing

Data warehouse and data-mining tools – for aggregating and analyzing large amounts of information

Communication support software – for all types of communication

Desktop publishing software – for developing high-quality ad copies, etc.

K-48

MARKETING

K-49

MARKETING

K-50

PRODUCTION & OPERATIONS MANAGEMENT

Production, manufacturing, warehousing, and transportation of products

Also scheduling in many industriesVery technical and rewarding field

K-51

Jobs in Production & Operations Management

Production scheduler – usually in manufacturing for scheduling operations and flows

Inventory manager – facilitates planning for and procuring inventory items

Quality assurance analyst – ensures quality assurance/control guidelines are met

K-52


Purchasing manager – works with suppliers to develop low-cost acquisition of high-quality materials

Operations analyst – recommends how to optimize business operations by reducing costs

K-53


Statistical/research analyst – analyzes operations to improve a company’s operations

Logistics analyst – develops optimal solutions for logistical issues (cargo weights, transportation, etc)

K-54

IT Skills for Production & Operations Management

Statistical tools – the most important tool set in this career

Advanced DSS spreadsheet features – for developing and analyzing optimal solutions

Supply chain management – to integrate internal operations to maximize customer value

K-55


Production and inventory control software – for minimizing internal production and inventory costs

Material requirements planning software – for optimally modeling all operations

K-56


Data-mining tools – to understand relationships inherent in massive amounts of information

Scheduling software – for optimal scheduling of business resources

K-57


K-58


K-59

REAL ESTATE & CONSTRUCTION MANAGEMENT

Not limited to residential real estate$3 trillion per year industryResidential, office, retail, industrial, and many other

property typesHow real estate assets can add to bottom line profits

K-60

Jobs in Real Estate and Construction Management

Commercial real estate loan officer – soliciting and servicing commercial real estate loans

Commercial real estate appraiser – examines and evaluates commercial property to estimate fair market value

K-61


Property manager – responsible for financial and physical maintenance of properties

Real estate development manager – acquires property for development or redevelopment

Real estate development rep – assists in acquisition of property

K-62


Construction manager – responsible for overall management of construction projects

Construction field superintendent – oversees daily construction activities at a work site

K-63

IT Skills for Real Estate and Construction Management

Internet and Web portals – for virtual project sites and sharing documents

Geographic information systems – for analyzing and selecting sites

Database management and integration – for accounting, lease administration, finance, property management, etc

K-64


Spreadsheet modeling – for discounted cash flow analysis, ratio analysis, etc

Computer aided design (CAD) – for the digital imaging of architectural designs

Project scheduling – for construction project scheduling and monitoring

K-65


Automated valuation – statistical and other analyses to automate the loan underwriting process

Customer relationship management – combines contact, calendar, schedule, and client information

K-66

REAL ESTATE AND CONSTRUCTION MANAGEMENT

K-67

REAL ESTATE AND CONSTRUCTION MANAGEMENT

module k

Documents