CAREERS IN BUSINESS

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2. XLM K CAREERS IN BUSINESS

3. STUDENT LEARNING OUTCOMES • Identify the career field and business specialization in which you’re interested • Provide typical job titles and descriptions for your career field • List and describe the IT skills you need to gain while in school

4. INTRODUCTION • Business people must possess multiple acumens • You can’t just focus on marketing, for example • You need skills in all areas • One important area is information technology (IT)

5. ACCOUNTING • Language of business • Accountants communicate financial information • Accountants must understand all areas of business

6. ACCOUNTING • Five broad accounting areas • Public practice • Industry • Government • Non-profit • Education

7. Accounting Jobs • Cost accountant – determines cost of products and services • Environmental accountant – works for utilities, manufacturers, and chemical companies • Chief financial officer – usually a VP; responsible for all accounting/finance

8. Accounting Jobs • Tax accountant – tax planning and tax return preparation • Internal auditor – ensures that company policies are followed • Government agent – frequently a law enforcement officer; prepares materials for prosecutors and testifies in court

9. 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

10. IT Skills for Accounting • Wed research – for consulting rules and regulations • Spreadsheet modeling – for extensively analyzing financial transactions and projections • Network security – for security of information and financial assets

11. ACCOUNTING

12. ACCOUNTING

13. FINANCE • An important part of all decision making • Tracks include corporate finance, banking, and investments • Draws from three disciplines • Accounting • Economics (especially micro-economics) • Statistics

14. 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

15. 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

16. Finance Jobs • Stock broker – works primarily with individuals to aid in investment in stocks and bonds

17. 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

18. 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

19. FINANCE

20. FINANCE

21. HOSPITALITY & TOURISM MANAGEMENT • One of the world’s largest and most diverse industries • By 2004, $5.5 trillion in this industry, employing 8.1% of the world’s population • Every academic discipline is in hospitality & tourism management

22. 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

23. 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

24. Jobs in Hospitality • Food and beverage manager – responsible for purchasing these items and point-of-sale systems; culinary expertise is a plus

25. 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

26. IT Skills for Hospitality • 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

27. IT Skills for Hospitality • 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

28. HOSPITALITY & TOURISM MANAGEMENT

29. INFORMATION TECHNOLOGY • What this book is all about • IT specialists must know IT, for sure • They must understand all aspects of business to successfully build and apply IT solutions

30. 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

31. 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

32. 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

33. 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

34. INFORMATION TECHNOLOGY

35. INFORMATION TECHNOLOGY

36. MANAGEMENT • Critical to shaping the future of a business • Must be well-educated, creative, and effective • The most eclectic of all business disciplines • Found in every business and in every industry

37. 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

38. 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

39. 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

40. 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

41. 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

42. MANAGEMENT

43. 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

44. 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

45. 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

46. Jobs in Marketing • Product development manager – from customer insights, drives product specifications and quality • Product manager – works for profitability within a product line

47. 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

48. 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.

49. MARKETING

50. MARKETING