The Management Market

Topics: Academic degree, Management, Bachelor's degree Pages: 10 (2906 words) Published: May 12, 2013
This research report was designated to investigate the market of management in business. Specifically, this report will show the most proficient ways to enter the management field, and what to do when you get there. In addition to providing general management advice, my investigation went further in depth to discuss three areas of management: hospitality, sports, and marketing.

Hospitality field includes jobs or professions that extend hospitality to the customer. Examples include hotels, restaurants, casinos, tourism, museums & galleries, parks and fairs, and so on. The distinctive feature is catering services to other people so that they would feel more welcome, wherever the service is rendered. Thus, the core task is to be hospitable and accommodating to those you are serving. Even though this definition seems simple, it does not refer to just one specific job or activity. There are many ways to be hospitable and make someone feel at home. This is why there are various fields of opportunity available in hospitality management. Because there are so many jobs in the hospitality sector, this report is limited to upper management positions. (As shown in Figure 1)

Education Requirements for Upper and Lower Level Positions
Since there are many different job positions in this kind of career, there are also differing educational requirements. For instance, some positions don’t require a diploma and accept high school graduates. Typically such posts would include hotel housekeeping services, cleaners, and the like. There are other positions, however, requiring thorough specialized training. For example, chefs will be expected to achieve a degree in culinary arts. One may consider taking Hotel and Restaurant Management courses to improve their prospects. In most cases of upper management careers, a degree in the area of interest is required this would be a significant advantage in your favor. Tourism courses are also worthwhile and are recommended if you want to specialize in tourism oriented hospitality activity.

Hospitality Management Positions Available for College Graduates
Although lower hospitality positions can be attained without a degree, the upper management positions require some sort of higher education, as well as experience. An advanced tourism and hospitality degree is recommended for all management positions in the hospitality industry. It may be possible to not have degree and hold a management position by working ones way up through the ranks, but it can also mean years of lost income potential and missed opportunities. By having upgraded academic training, there will more careers available and faster advancement. Most large, full-service companies hire people who have a bachelor's degree in business, hotel, or hospitality management for management trainee positions; however, a liberal arts degree coupled with experience in the hospitality field may be sufficient. For other non-management positions, especially those with fewer services, employers look for applicants with an associate degree or certificate in hotel, restaurant, or hospitality management along with experience.

Hospitality Management: Pay and Benefits
The average salary for hospitality jobs is around $50,000. Average hospitality salaries can vary greatly due to company, location, industry, experience and benefits. Hospitality management can be a very lucrative field, both in terms of annual revenues and salary. Not included in the calculated salary, is compensation and bonuses, for instance end of the year bonuses, free accommodations, and employee discounts.( Figure 2 shows the average annual salary for upper management positions)

In addition to hospitality, marketing is...
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