Professional Development

LAP 15

Professional Development

LAP 15

Careers in BusinessCareers in Business

Identify types of careers in business. Identify types of careers in business.

Objectives:Objectives:

Describe traits, skills, and educational requirements needed for success in business careers.

Describe traits, skills, and educational requirements needed for success in business careers.

Identify types of careers in business.Identify types of careers in business.

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!

Management and Administration

Finance

Marketing

Management and Administration

Finance

Marketing

Many different ways to sub-divide business careers

For this LAP:

Many different ways to sub-divide business careers

For this LAP:

The sector or industry in which the business functions

The product or service it provides

• Regardless of:

Career opportunities that are dedicated to:

• Performing dynamic business processes vital to the success and ongoing existence of a business organization

These jobs are everywhere!

They keep businesses

running smoothly.

Information and communication

management

Data processing and collection

Project tracking

Administrative Services

Facilitate business operations through a wide range of duties, including:

Customer-service representative

Administrative Services

Often referred to as support staff positions

Exist in any area of a business

Examples:

Executive assistant

• Project manager

• Business process architect

• Functional specialist

Business Information Technology

• An umbrella term covering those careers that provide a bridge between business processes/ initiatives and IT (information technology)

• Employees help align business and IT goals.

• Examples:

Financial resources

Human resources

Material resources

Corporate/General Management

Careers focus on planning, organizing, directing, and evaluating part or all of a business organization through the allocation and use of:

Store manager

Director

Owner

Examples:

Have supervisory responsibilities

Make decisions, either big or small

Employees:

• HR careers are all about people.

• Every business has employees.

• Planning

• Recruitment

• Selection

• Careers focus on the staffing activities that involve employee:

Human Resource (HR) Management

• Orientation

• Training

• Performance appraisal

• Compensation

• Safety

Human Resource (HR) Management

• Those who work in HR serve as a link between top management and employees.

• Examples:

• HR generalist / manager

• Recruiter

• Training manager

• Being an employer comes with certain responsibilities.

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

• Examples:

• Purchasing manager

• Chief operations officer (COO)

• Master scheduler

Procurement Warehousing

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

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

AccountingAccounting

• 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:

• 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

Bookkeeping

Systems design

Analysis

Interpretation

Analysis

Interpretation

• Examples:• Examples:

Accounting clerkPublic accountantAuditor

Accounting clerkPublic accountantAuditor

AccountingAccounting

Banking ServicesBanking Services

Primarily concerned with:

Accepting deposits

Lending funds

Services include:

Cash management

Short-term investments

Mortgages and other loans

Credit cards

Bill payment

Extending credit

Banking ServicesBanking Services

Services are delivered via a number of different institutions:

From commercial banks and other traditional means: To newer ventures through:

• Savings and loan associations

• Credit unions

• Local banks• Insurance companies

• Brokerage houses

• “Internet”

Examples:

• Loan officer/counselor

• Branch manager

• Credit analyst

Corporate FinanceCorporate 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:

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 InvestmentsSecurities and Investments

Industry consists of:Industry consists of:

• Brokerage firms

• Investment banks

• Stock exchanges

• All of these support the flow of funds from investors to companies and institutions.

• Brokerage firms

• Investment banks

• Stock exchanges

• All of these support the flow of funds from investors to companies and institutions.

Related services include:Related services include:

• Financial planning

• Asset management

• Hedge fund management

• Custody services

• Financial planning

• Asset management

• Hedge fund management

• Custody services

Examples:Examples:

• Securities sales agent/ broker

• Financial planner/advisor

• Investment banker

• Securities sales agent/ broker

• Financial planner/advisor

• Investment banker

Career opportunities whose processes:

Career opportunities whose processes:

Create, communicate, and deliver value to customers

Manage customer relation-ships in ways that benefit the organization and its stakeholders

Create, communicate, and deliver value to customers

Manage customer relation-ships in ways that benefit the organization and its stakeholders

Involves marketing activities that inform, remind, and/or persuade the targeted audience

Examples of techniques:

Involves marketing activities that inform, remind, and/or persuade the targeted audience

Examples of techniques:

• Advertising

• Direct marketing

• Digital marketing

• Advertising

• Direct marketing

• Digital marketing

Examples:Examples:

• Marketing-communications manager

• Public relations manager

• Media buyer/planner

• Marketing-communications manager

• Public relations manager

• Media buyer/planner

Marketing Communications

• Publicity/public relations

• Sales promotion

• Publicity/public relations

• Sales promotion

Careers involve all marketing functions, including:

Careers involve all marketing functions, including:

• Channel management

• Marketing-information management

• Pricing

• Product/service management

• Promotion

• Selling

• Channel management

• Marketing-information management

• Pricing

• Product/service management

• Promotion

• Selling

Employees can be involved in a number of different industries, including:

Employees can be involved in a number of different industries, including:

• Sports

• Fashion

• Travel

• Sports

• Fashion

• Travel

Examples:Examples:

• Marketing specialist

• Marketing director

• Marketing manager

• Marketing specialist

• Marketing director

• Marketing manager

Marketing ManagementMarketing Management

Jobs focus on marketing activities that involve determining information needs, such as:

Jobs focus on marketing activities that involve determining information needs, such as:

• Designing data-collection processes

• Collecting data

• Analyzing data

• Presenting data

• Using data for marketing planning

• Designing data-collection processes

• Collecting data

• Analyzing data

• Presenting data

• Using data for marketing planning

Employees look for meaningful clues about:Employees look for meaningful clues about:

• What customers need and want

• Why customers do what they do

• What customers need and want

• Why customers do what they do

Examples:Examples:

• Market analyst

• Market research manager

• Product analyst

• Market analyst

• Market research manager

• Product analyst

Marketing ResearchMarketing Research

Careers involve marketing activities that are focused on efficient and effective:

Careers involve marketing activities that are focused on efficient and effective:

• Product planning

• Selection

• Buying for resale

• Product planning

• Selection

• Buying for resale

Examples:Examples:

• Buyer

• Merchandise manager

• Merchandising coordinator

• Buyer

• Merchandise manager

• Merchandising coordinator

MerchandisingMerchandising

Determine customer needs/wants

Respond through planned, personalized communication to:

Careers involve marketing and management activities that:

Influence purchase decisions

Enhance future business operations

Examples:

• Sales agent

• Sales representative

• Sales manager

Professional SellingProfessional Selling

Describe traits, skills, and educational requirements needed

for success in business careers.

Describe traits, skills, and educational requirements needed

for success in business careers.

• Business

• Business administration

• Management

• Business

• Business administration

• Management

The best career prospects are available to candi-dates who have earned a bachelor’s degree.

Many different degrees can lay a solid foundation for a business career:

The best career prospects are available to candi-dates who have earned a bachelor’s degree.

Many different degrees can lay a solid foundation for a business career:

EducationEducation

• Finance

• Economics

• Even communications

• Finance

• Economics

• Even communications

• Marketing

• Accounting

• Marketing

• Accounting

• May be formal or informal

• Will be invaluable to you as you add to your skill set

• May be formal or informal

• Will be invaluable to you as you add to your skill set

You will most likely receive on-the-job training when you start a new position.

You will most likely receive on-the-job training when you start a new position.

EducationEducation

• Stock broker• Stock broker

Some positions require special certifications or licenses:

Some positions require special certifications or licenses:

EducationEducation

• Real estate agent• Real estate agent

• Learn new skills or update the skills you have.

• You might:

• Learn new skills or update the skills you have.

• You might:

Continuing education and professional development is important as well.

Continuing education and professional development is important as well.

EducationEducation

• Go back for your graduate degree.

• Participate in workshops or seminars specific to your career.

• Go back for your graduate degree.

• Participate in workshops or seminars specific to your career.

Skills and TraitsSkills and Traits

Math skills

Communication skills

“People” skills

Computer/Technology skills

Decision-making/Problem-solving skills

Math skills

Communication skills

“People” skills

Computer/Technology skills

Decision-making/Problem-solving skills

Creativity

Enthusiasm/Good attitude

Trustworthiness

Flexibility

Self-confidence

Creativity

Enthusiasm/Good attitude

Trustworthiness

Flexibility

Self-confidence

Throughout the next week, try to notice business careers wherever you go.

The restaurant manager at the diner where you always eat breakfast

The payroll clerk who hands you your check at your part-time job

The banker who cashes that check

In your notebook, keep track of all the business careers you encounter.

What types of skills and personality traits did each person exhibit?

What careers appealed to you?

How many might you encounter each day?

She wants an online business degree.

She has limited funds.

School she finds:

Kathleen’s Dilemma

Inexpensive

No homework or tests

Unclear accreditation

What should she do?

AcknowledgmentsAcknowledgments

Original Developers:Original Developers:

Lelia Ventling and Sarah Bartlett Borich MarkED

Lelia Ventling and Sarah Bartlett Borich MarkED

Version 1.0Version 1.0

Copyright 2007Copyright 2007

MarkED Resource CenterMarkED Resource Center

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