OPPORTUNITIES BY SIZE AND NATURE OF BUSINESS
A business graduate holds opportunities in a variety of fields where he can perform. These fields are as follows:
1. Small According to American standard, a small business organization is one
Business where up to 250 persons are employed or its sales goes up to as high as one million dollars a year. Such business organizations offer a challenging job in that the competence and incompetence come upon the surfaces quickly. One has to work closely under the proprietor or a senior officer. Doing the job here shows the following advantages:
a) The officer is directly involved with the decision made at the top level.
b) He is considered as an important person.
c) Sense of achievement is great.
d) His ability, talent, and competence are recognized.
e) He gets good training of coordination.
f) The manager works with the top level management owing to which he gets an opportunity to learn more.
g) Since there is no specialization in small organizations the managers learns many fields of business operations like accounting, marketing, finance, and management.
h) Here service rules and regulation are not strict and hence can get out of turn promotions by hardworking and good performance.
i) Freedom of action is greater and his advice and suggestions are given due weight.
j) His salary may be as high as the one given in large organizations but very rarely
k) Competition for promotion is not tough.
l) The manager has to keep vigilant and keep the work up-to-date.
However working for the small firm may have certain drawbacks:
a) Weaknesses of the personnel are strictly observed.
b) Too much is expected of him.
c) In most cases, salaries and benefits are not encouraging.
d) Job turnover is high.
e) Small business hardly offers career jobs.
f) Job security is not available.
2. Big Business Firms:
These firms provide a career job to business graduates. They offer many opportunities as follows:
a) Job security is an attractive condition in large business houses.
b) Rich fringe benefits, allowances and perks are provided.
c) Managerial training and development for the managers is always available.
d)Opportunityto conceal weaknesses is great.
e) There is a chain of positions through which one can reach to the highest echelon. For instance one can start his career as assistant manager to deputy manager, to manager, to general manager, and still higher.
f) Since rules and regulations are strict out of turn promotions on the basis of performance are very rare.
g) Those who are maverick, self-starter, and whizkid are strait-jacketed and have to work within the specified policies. Hence they cannot use their extraordinary talent, initiative and innovative nature.
h) Their performance is hardly commended.
i) In large organizations talented managers are lost among hundreds of employees. And their good performance does not become prominent.
j) Although the large business organizations offer little starting salary but even then it is greater than what small business organizations do.
k) Transfer policy of the company creates opportunity for learning the work of different departments increasing the overall ability of the manager.
3. Self Employment:
The third alternative for the business graduate is his own business in which he enjoys freedom of action, owns full profit, uses his talent to the utmost, and feels great satisfaction. His self-respect is increased. The business may be inherited or established by him. It has the following characteristics:
a) All the decisions are independently made.
b) The business gets benefits from the hardworking and ambitions of the graduate owner.
c) He is himself a boss and does not work as a subordinate. People with initiative and gifted qualities can try and use their talent without any obstacles and objections.
d) Future prospects are very high.
e) The income of the owner may be higher than the take-home pay of the top level manager of a big organization.