When running a company, managers must decide a plan of action for “growing the business, attracting and pleasing customers, competing successfully, conducting operations, and improving the company’s financial and market performance” state Arthur Thompson, Jr., A.J. Strickland III, and John E. Gamble in Crafting and Executing Strategy. In this way, a company can successfully acquire a percentage of the market for their business.
Transformation of Commerce
Many changes have taken place in the marketplaces, as a result of the economic crisis, which have resulted in a need for consultants. The U. S. Bureau of Labor Statistics reports in The Big Book of Jobs 2009-2010 Edition that the changes which firms are facing are “regulatory changes, developments in information technology, and the growth of electronic commerce.”
These changes include the Sarbanes –Oxley Act which outlined requirements for financial reporting, new opportunities to market businesses on the internet, and pricing strategies. Many of the firms do not have the expertise to work in these areas and need to hire consultants to assist in adapting these changes to their business operations and to ensure that they are complying with regulatory changes.
Additionally, the opportunities to market businesses globally have presented opportunities to assist firms in expanding the business abroad. Many business owners are neither skilled nor knowledgeable about marketing their business globally or do not have language skills to transact business. Therefore, they may hire consultants in other countries to assist them.
Proficiency in Advising
Because of theses changes, many Baby Boomers who have suffered job losses as a result of the economic crisis of 2008 have opportunities to assist these firms which have little expertise in these areas. Many of the Baby Boomers who have worked at the corporate level on teams or as consultants can now find opportunities to use their skills to work as management analysts to small, medium or large corporations.
For instance, many of these Boomers with master’s degrees in business administration and who have worked on teams in human resources, information technology, or marketing, have developed the necessary analytical skills, oral and written communication skills, time management skills, and organizational skills to assist firms as management analysts. Therefore, they are qualified to develop a strategy for firms to achieve their goals in outperforming competitors in the marketplace.
The Management Profession
The management analyst would work as an employee or as an independent contractor for the firm. Working out of the home would be an ideal situation for the self-motivated and disciplined management analyst, as overhead is very low. However, the independent contractor must have superior marketing skills in order to thrive in the business.
The earnings for management analysts are very lucrative and growth for these jobs is expected to increase more than most other industries. Therefore, obtaining certification at the Institute of Management Consultants USA, Inc. could give a job applicant a competitive edge over other applicants.
In conclusion, many opportunities exist for Baby Boomers who find themselves without a job. By researching the opportunities to market their skills, they could secure a lucrative position as a management analyst.
Gail Cavanaugh - Gail Cavanaugh is the owner of Gail Cavanaugh's Business Solutions, a company providing merchant services, website design, and marketing ...
