Speaker 1: With businesses becoming bigger and bigger every year, the demand for more and more organizational professionals is skyrocketing. There are many roles that are based on top organizational skills to keep things streamlined and increase productivity. One such profession in recent times is that of business operations managers. And today, we are going to learn how to become one. Before I begin this video, remember to download a free guide on selecting the right career by clicking on the link in the description box below. In this video, I will talk about 5 key points. What is a business operations manager? What is the future scope and job opportunities in this career? Then we are going to talk about what skills are required, roles and responsibilities, and then complete a roadmap on how to build your career as a business operations manager. Let's look into this exciting career of a business operations manager.

Speaker 2: What is a business operations manager?

Speaker 1: A business operations manager career path is a great choice for people who like to work behind the scenes in an organization. This position is a vital role in the success of any business. No matter how big or small, you would have flexibility of working in almost any industry with this career. In one line, the goal of an operations manager is to encourage continuous improvement of business processes and constant refinement of the company's products. A business operations manager is a professional who is responsible for leading and supervising employees to ensure productivity, efficiency of operations, and providing direction on how best to handle different tasks while maintaining customer satisfaction. Business operations managers help implement strategies that will help generate revenue or profitability for the company. An operations manager is a key part of a management team and oversees high-level HR duties such as attracting talent, setting training standards, and hiring procedures. They also analyze and improve organizational processes and work to improve quality, productivity, and efficiency. They are sometimes known as a chief operating officer or COO at the top level. Business operations are all the activities accomplished behind the scenes to keep the business running. In most businesses, operations managers oversee the big picture of their organization. They are responsible for managing processes, purchasing, accounting, human resources, inventory, and IT. There are different levels to an operations manager's career path. Operations managers are sometimes also known as chief operating officers. Their role is critical in ensuring businesses run smoothly and have everything they need to be effective. Yes, becoming a business manager is a great career, especially if you are an organized and detail-oriented professional with an interest in maintaining the smooth operations of the organization. Let's understand more about this career with the future scope salary offered top companies hiring for business operations managers. 1. Because of the increasing importance of innovation in business, skills in production-oriented operations management are highly marketable. Students with these traits are capable of helping the world's most creative companies like Apple, Google, GE, and many others. One positive thing about this career is how lucrative it can be. In most industries, especially in technology, consulting, and finance sectors, good business operations managers are highly sought after. When deciding whether to pursue a career as a business manager, it may be beneficial to know about career outlook projections to assess future job security. According to the U.S. Bureau of Labor Statistics, projects about 6% growth in positions by 2030 across the world, which is as fast as average. When we talk about an average income for a business operations specialist's role these days in the job market, for entry-level, something around $70,000 to $100,000 annually on world scale. The median annual wage for business operations specialists in the U.S. was about $85,000 according to Bureau of Labor Statistics. And for a more experienced role, it can go anything up to $100,000 to $150,000 annually. These are U.S. numbers, but overall, this career has a good payout in your local currency as well. So it's a great career. Your salary will likely increase as your experience increases. The more experience and education you have, the more likely it is that salary will be closer to the average or higher average. Some of the potential career paths that you can get after working as a business operations supervisor are operations managers, business analysts, operations specialists, project manager, operations assistant, business consultant, chief operating officer, or COO, and many more like that. Now, operation managers can work just from anywhere, from hospitals to banks and retail stores. Just about every organization needs an operations manager to run the day-to-day business. As an operation manager, you could work for many different types of organizations, including manufacturers, service providers, banks, credit unions, and retail. Now, companies that offer jobs in these roles are almost everywhere. Some of the top ones are Accenture, Deloitte, EY, Cognizant, United Health Group, KPMG, PwC, Tech Mahindra, Reliance, and many more. Now that we know there's a huge growth in the business operations manager's career, let's explore skills required and job responsibilities and ideal workday in this profession. Well, there are skills that every person working in business operations need to have to be successful in the field. Now, there will be some jobs that require you to have more specific skill sets, but these are a few of the most important skills that you should have. Number one is leadership. As a manager, you will be looked upon as a leader in your organization, so it is important. Next is strategizing. Understanding business strategies is of vital importance, and you should be able to plan and implement strategies as well. Next comes analyzing. You will be responsible for analyzing processes and policies to ensure they are working for the organization. Next comes, and very important, decision making. As an operations manager, you will be responsible for making decisions on behalf of the organization, so it's imperative that you have good decision-making skills. Next comes conflict management. Well, this refers to not just personal conflict, but any conflict that occurs within your organization's business operations. After skills, now let's talk about roles and responsibility of business operations specialists. Well, in general, a role of an operations manager is to manage all activities involved in producing the goods and or services of a business. In the retail industry, for example, an operation manager would manage all activities related to daily retail floor functions, as well as planning and strategizing. There are a lot of opportunities in business operations as well. The responsibilities of an operations manager will vary from different organizations and industries as well, but in general, you can expect to do most of the following tasks while working as a business operations. Number one is processes. An operation manager is responsible for implementing and maintaining processes that are organizational uses. This includes software and other programs that organization uses to function every day. Next is personnel. Human resource is a big part of operations in any organization. As an operations manager, you will either be overseeing the HR department or working very closely to help solve personal issues. Third, inventory. This is specifically true for an operations manager who work in retail or for business that sells specific products. Next come financials, accounting, and finances are another big part of an operations department. Similar to HR, you will be either be overseeing the accounting department or working closely for review budgets, review growth, and profitability. Next comes reporting. An operations manager is responsible for reporting on how the business is functioning and whether the implemented processes and policies are working or need changes. After looking at the roles and responsibilities, let's look at the most curious section on what education does an operations manager need and how to pursue this career with a complete step-by-step roadmap. A bachelor's degree in business is needed for a job in business operations. This type of degree program will focus on business fundamentals that are critical for success. Things like finances, budgets, supply chain management, and strategy are taught in business management undergraduate programs. This will give you the knowledge and experience you will need to get started in operations management. If you are in school or college and you are exploring this career option, make sure to take notes from this video and also pursue some online courses and build your skill set in this area. And as always, I have some super amazing courses listed specially for you in the description box and comment section below, so make sure to check out these links and enroll for these online classes if you are looking forward to get something related to this career. And yes, a bachelor's degree isn't likely going to do the job. You may have to start in a more entry-level position and work your way up. It would also be beneficial for you to obtain your master's degree in business administration MBA. This additional credential demonstrates skill and mastery in leadership, a key element for any management position. An MBA will focus on leading people, overseeing processes, and creating more advanced strategies for an organization. This is key for operations management. A key lesson taught in production or operation management degree programs is how to manage a company's innovation process. A degree in this field offers abundant career flexibility and can lead to a high salary as well. Some universities have world-class programs at MIT, Carnegie Mellon, Purdue University, University of Michigan, Ann Arbor, Stanford University, Georgia Tech, Ohio State, University of Pennsylvania, Michigan State University, Penn State University, UT Austin, NTU Singapore, NCHEC, Oxford, NYU, IIM Ahmedabad, IIMC Delhi, and many more. For professionals, it's important to know that most organizations will require that you also have some experience before hiring you as an operation manager. You may have to start at a lower-level position and then work towards getting to a more managerial kind of a role. Well, in the end, if you are an organized and detail-oriented person, have strong communication and management skills, with an interest in maintaining the smooth operations of an organization, this could be a perfect career for you. Well, thank you so much for watching this video. Really appreciate it. Please make sure to support my work by liking and sharing this video and also subscribe to my channel and hit that bell icon. If you need any personalized help, comment below or reach out to me on my social media platforms and my team can help you in the step-by-step process of career and college admission and building an extraordinary life for yourself. I will see you shortly with another amazing video on career, college admission, and living extraordinary. Till then, this is Shireen saying goodbye. Bye-bye. you