Lecture 16
CAREERS IN BUSINESS
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STUDENT LEARNING
OUTCOMES
1.
2.
3.
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
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INTRODUCTION
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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)
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ACCOUNTING
o Language of business
o Accountants communicate financial information
o Accountants must understand all areas of
business
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ACCOUNTING
o Five broad accounting areas
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Public practice
Industry
Government
Non-profit
Education
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Accounting Jobs
o Chief financial officer – usually a VP;
responsible for all accounting/finance
o Management accountant – records and
analyzes the financial information of the
organization
o Environmental accountant – helps businesses
understand their environmental costs and factor
those costs into decision-making processes
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Accounting Jobs
o Government agent – frequently a law
enforcement officer; prepares materials for
prosecutors and testifies in court
o Internal auditor – ensures that company policies
are followed
o Public accountant – performs a broad range of
functions/consulting functions for variety of clients
o Tax accountant – tax planning and tax return
preparation
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IT Skills for Accounting
o Accounting information systems – all are
computerized
o Database management – all accounting
information is stored in a database
o Database design – must understand database
design to follow transactions
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IT Skills for Accounting
o Wed research – for consulting rules and
regulations
o Spreadsheet modeling – for extensively
analyzing financial transactions and projections
o Network security – for security of information
and financial assets
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ACCOUNTING
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ACCOUNTING
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FINANCE
o An important part of all decision making
o Tracks include corporate finance, banking, and
investments
o Draws from three disciplines
– Accounting
– Economics (especially micro-economics)
– Statistics
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Finance Jobs
o Corporate treasurer – controlling the cash
needs; invests surpluses and acquires cash for
shortfalls
o Corporate financial analyst – aids in investing
corporate resources
o Bank loan officer – provides funds for
individuals, small businesses, and large
corporations
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Finance Jobs
o Trust officer – works with personal estate trusts
and bond issuers
o Security analyst – provides investment
information to individuals and institutions
o Portfolio manager – works for institutions such
as mutual funds or insurance companies
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Finance Jobs
o Stock broker – works primarily with individuals to
aid in investment in stocks and bonds
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IT Skills for Finance
o Spreadsheet modeling – advanced knowledge
here is essential
o Statistical packages – for measuring the risk
inherent in a project
o Database management – all finance information
is stored in a database
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IT Skills for Finance
o Internet and Web portals – for providing
investment information to investors
o Search engines – for accurately and efficiently
gathering information
o Technology strategy and innovation – for
creating new customer self-service systems
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FINANCE
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FINANCE
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HOSPITALITY & TOURISM
MANAGEMENT
o One of the world’s largest and most diverse
industries
o By 2007, $7.1 trillion in this industry, employing
8.3% of the world’s population
o Every academic discipline is in hospitality &
tourism management
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Jobs in Hospitality
o General manager – oversees the entire operation
(theme park, hotel, etc)
o Controller – responsible for accounting and
financial aspects
o Director of sales and marketing – sales and
marketing activities and group business
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Jobs in Hospitality
o Director of human resources – for all staffing and
team building
o Director of room operations – for all guest
services in a hotel
o Revenue manager – responsible for setting
rates, restrictions, and selling strategies
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Jobs in Hospitality
o Food and beverage manager – responsible for
purchasing these items and point-of-sale
systems; culinary expertise is a plus
o IT manager – oversees the various computer
systems in the organization
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IT Skills for Hospitality
o Personal computer applications – essential for
this industry
o Hospitality-specific applications – much vertical
market software in this industry
o Database management – databases are the
underlying technology in this industry
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IT Skills for Hospitality
o DSS/EIS – for analyzing and interpreting
information and making decisions
o Electronic commerce – effectively and costefficiently reaching consumers and serving them
o Distribution channel management – for
managing all suppliers to the operation
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IT Skills for Hospitality
o Customer relationship management – the guest
is the primary reason for being in business
o IT strategy – for aligning IT with the business
strategy and allocating resources
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HOSPITALITY & TOURISM
MANAGEMENT
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INFORMATION TECHNOLOGY
o What this book is all about
o IT specialists must know IT, for sure
o They must understand all aspects of business to
successfully build and apply IT solutions
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Jobs in Information Technology
o Programmer – writes software in a programming
language (C++, ASP, etc)
o Business analyst – gathers system requirements
from end users
o Database design/developer – creates database
solutions for IT systems
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Jobs in Information Technology
o Web Services expert – builds network-based IT
systems using .NET, J2EE, etc
o Network engineer – designs, develops,
implements, and maintains IT networks
o Data warehouse analyst/developer – creates
data warehouse solutions for decision-making
activities
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IT Skills for Information Technology
o Programming languages – these are for writing
software
o Development platforms – integrated
environments for developing IT solutions
o Databases – the heart of any information
management activity
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IT Skills for Information Technology
o Data warehouses – for supporting decisionmaking tasks and business analysis activities
o Networks and security – hardware technologies
and communications protocols
o Multimedia tools – for information not in textual
or numeric form
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INFORMATION TECHNOLOGY
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INFORMATION TECHNOLOGY
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MANAGEMENT
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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
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Jobs in Management
o Project manager – developing strategic and
tactical plans for all projects
o Retail manager – day-to-day management of a
department or store
o Business development manager – developing
meaningful and profitable relationships with
business partners
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Jobs in Management
o Human resource manager – deals with hiring,
promotion, and termination and hopes to
increase job satisfaction
o Supply chain manager – managing and
improving the supply chain of products and
information
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Jobs in Management
o Management analyst – defines nature and extent
of problems and develops solutions
o Entrepreneur – begins a small business and
becomes his/her own boss
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IT Skills for Management
o Database management and integration – as all
types of business information are stored in
databases
o Internet and Web portals – for finding and
accessing information
o Spreadsheets – for organizing work,
calculating value, developing graphs and
charts, and comparing costs
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IT Skills for Management
o Enterprise resource planning – for
communicating and sharing information
corporate wide
o Geographic information systems – for
understanding and working with spatial
information
o Electronic commerce – for B2B and B2C
success
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MANAGEMENT
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MARKETING
o Includes product development, advertising, PR,
promotions, and sales
o Sell a company’s products and services in a
profitable way
o Must know CRM, SCM, statistical tools, etc
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Jobs in Marketing
o Creative marketing specialist – designs
marketing solutions for all media types
o Marketing coordinator – manages and directs
marketing and ad campaigns
o Account manager – manages large accounts,
with often only one customer
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Jobs in Marketing
o Market research analyst – designs, implements,
and analyzes information from market research
instruments
o Market development manager – defines and
develops new market opportunities
o Brand manager – drives branding strategies and
external communications
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Jobs in Marketing
o Product development manager – from customer
insights, drives product specifications and quality
o Product manager – works for profitability within a
product line
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IT Skills for Marketing
o Customer relationship management – because
marketing is the primary interface to a customer
o Budget analysis/impact software – to determine
product feasibility
o Database management – for working with vast
amounts of information in a database
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IT Skills for Marketing
o Data warehouse and data-mining tools – for
aggregating and analyzing large amounts of
information
o Communication support software – for all types
of communication
o Desktop publishing software – for developing
high-quality ad copies, etc.
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MARKETING
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MARKETING
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PRODUCTION & OPERATIONS
MANAGEMENT
o Production, manufacturing, warehousing, and
transportation of products
o Also scheduling in many industries
o Very technical and rewarding field
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Jobs in Production & Operations
Management
o Production scheduler – usually in
manufacturing for scheduling operations and
flows
o Inventory manager – facilitates planning for
and procuring inventory items
o Quality assurance analyst – ensures quality
assurance/control guidelines are met
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Jobs in Production & Operations
Management
o Purchasing manager – works with suppliers to
develop low-cost acquisition of high-quality
materials
o Operations analyst – recommends how to
optimize business operations by reducing costs
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Jobs in Production & Operations
Management
o Statistical/research analyst – analyzes
operations to improve a company’s operations
o Logistics analyst – develops optimal solutions for
logistical issues (cargo weights, transportation,
etc)
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IT Skills for Production & Operations
Management
o Statistical tools – the most important tool set
in this career
o Advanced DSS spreadsheet features – for
developing and analyzing optimal solutions
o Supply chain management – to integrate
internal operations to maximize customer
value
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IT Skills for Production & Operations
Management
o Production and inventory control software – for
minimizing internal production and inventory
costs
o Material requirements planning software – for
optimally modeling all operations
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IT Skills for Production & Operations
Management
o Data-mining tools – to understand relationships
inherent in massive amounts of information
o Scheduling software – for optimal scheduling of
business resources
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PRODUCTION & OPERATIONS
MANAGEMENT
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PRODUCTION & OPERATIONS
MANAGEMENT
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REAL ESTATE & CONSTRUCTION
MANAGEMENT
o Not limited to residential real estate
o $3 trillion per year industry
o Residential, office, retail, industrial, and many
other property types
o How real estate assets can add to bottom line
profits
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Jobs in Real Estate and Construction
Management
o Commercial real estate loan officer – soliciting
and servicing commercial real estate loans
o Commercial real estate appraiser – examines
and evaluates commercial property to estimate
fair market value
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Jobs in Real Estate and Construction
Management
o Property manager – responsible for financial
and physical maintenance of properties
o Real estate development manager – acquires
property for development or redevelopment
o Real estate development rep – assists in
acquisition of property
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Jobs in Real Estate and Construction
Management
o Construction manager – responsible for overall
management of construction projects
o Construction field superintendent – oversees
daily construction activities at a work site
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IT Skills for Real Estate and
Construction Management
o Internet and Web portals – for virtual project
sites and sharing documents
o Geographic information systems – for analyzing
and selecting sites
o Database management and integration – for
accounting, lease administration, finance,
property management, etc
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IT Skills for Real Estate and
Construction Management
o Spreadsheet modeling – for discounted cash
flow analysis, ratio analysis, etc
o Computer aided design (CAD) – for the digital
imaging of architectural designs
o Project scheduling – for construction project
scheduling and monitoring
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IT Skills for Real Estate and
Construction Management
o Automated valuation – statistical and other
analyses to automate the loan underwriting
process
o Customer relationship management – combines
contact, calendar, schedule, and client
information
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REAL ESTATE AND CONSTRUCTION
MANAGEMENT
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REAL ESTATE AND CONSTRUCTION
MANAGEMENT
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End of Lecture
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