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Careers in Management

tration. A master’s degree in business administration grow about as fast as the average for all occupations
(MBA) is also a common requirement. For students inter- through 2005.
ested in getting into management trainee programs in The outlook for management careers is good, despite
major corporations, an MBA gives the best opportunity the headlines about downsizing and corporate restructur-
for these top programs. An MBA or the master’s degree in ing. As the economy continues to grow, many businesses
health services administration is generally required for a are expanding, and this creates additional opportunities
career in health service management. for management jobs. Also, as the economy becomes
Apart from major corporations, many other organiza- more global, an increasing number of American firms are
tions have management trainee programs that college expanding overseas, and an equally large number of for-
graduates can enter. Such programs are advertised at col- eign companies are doing business in the United States.
lege fairs or through college job placement services. These This means that despite the layoffs of some middle-level
programs include classroom instruction and might last managers, there continues to be a worldwide need for
one week or as long as one year. Training for a department good managers.
store manager, for example, might include working as a The future is bright for women and minorities inter-
ested in management. Title VII of the Civil Rights Act
salesperson in several departments, in order to learn about
1964 bans discrimination in employment on the basis of
the store’s business, before being promoted to assistant
race, color, religion, sex, or national origin. Many compa-
manager.
nies, because of affirmative action rules, are actively seek-
In small organizations, depending on the type of
ing out women and minorities to fill management
industry, experience may be the only requirement needed
positions.
to obtain a position as manager. When an opening in
As a result, women are well represented at the lower
management occurs, the assistant manager is often pro-
levels of management; however, the number of top execu-
moted to the position, based on past performance. In
tive positions remains low. Only about 10 percent of the
large organizations a more formal process exists. The man-
top jobs in the 500 largest U.S. companies are held by
agement position to be filled is advertised with very spe- women. However, companies are taking steps to attract
cific requirements concerning education and experience. and promote women executives.
Persons interested in a career in management should Minority groups remain underrepresented at all levels
have good communication skills and be able to work well of management. A Rutgers University study (cited in
with a variety of people, ranging from other managers, Certo and Certo, 2006) found that in 400 Fortune 1000
supervisors, and professionals, to clerks and blue-collar companies, less than 9 percent of all managers were mem-
workers. They should be analytical, flexible, and decisive. bers of a minority group (p. 16). Since more and more
They should also be able to coordinate several activities new entrants into the labor market are members of vari-
simultaneously and be able to solve problems quickly. ous minority groups, it is becoming essential for business
Ability to work under pressure and cope with deadlines is to recruit talented minority managers.
also important. There are numerous opportunities for management
Recruiters look for self-starters who can use their ini- careers available in all types of organizations, especially
tiative, recognize what needs to be done, like responsibil- small and medium-sized companies. Every organization is
ity, and have high ethical standards. Self-starters and team looking for competent managers who can increase
players are the types of people corporations are looking for. employee performance and help the company to be suc-
cessful. Mosley and associates (1996) put it best when they
said: “Managers in organizations of all sizes, in all indus-
CAREER OPPORTUNITIES IN
tries, and at all levels have an impact on performance …
MANAGEMENT
they make the difference between success and failure for
According to the U.S. Bureau of Labor Statistics (1996), their companies” (p. 7).
the number of managerial jobs was expected to increase by
17 percent by 2005. The greatest increase in management
SOURCES OF ADDITIONAL
positions is projected to be in health services, manage-
INFORMATION
ment consulting, marketing, advertising, and public rela-
For further information, readers are encouraged to contact
tions fields. Opportunities for management careers in
any of the following organizations:
financial services, restaurant and food service, and real
estate industries will also grow at a faster than average rate American Hotel and Lodging Association, 1201
through 2005. Educational institutions, industrial pro- New York Avenue, NW, #600, Washington, DC
duction, and administrative services were expected to 20005-3931, www.ahma.com

98 ENCYCLOPEDIA OF BUSINESS AND FINANCE, SECOND EDITION