Due to rapidly changing business environments, managers have become increasingly sought-after by companies in various industries. This means management skills help professionals improve their employability while also enabling them to pursue entrepreneurial journeys if they wish to do so. MANCOSA offers an Advanced Certificate in Management Studies that equips students with comprehensive theoretical and practical management skills to gain those sought-after senior management positions.
This article discusses the significance of management today, South African business opportunities, and the benefits of business management studies so you can decide if this is the right programme for you.
The Significance of Management in Today’s Dynamic Business Market
In today’s dynamic workspace, the importance of management can’t be overstated. Management plays a critical role in business processes and operations. It helps companies ensure:
- Effective allocation of resources
- Strategic planning and decision-making that aligns with company objectives and goals
- Higher levels of productivity and teamwork
- Increased communication throughout different departments
Business management covers several industries, including finance, human resources, marketing, operations, etc. As a result, it can optimise business performance and ensure companies can effectively adapt to changing market conditions and grab hold of opportunities.
The Current Business Landscape in South Africa
In 2022, the service sector, including transport, personal, and financial trade, were key drivers of growth in South Africa. While the labour market remains weak, with the employment ratio only increasing slightly, SA offers a significant market opportunity. With a population of over 60 million people, a well-established manufacturing sector, a state-of-the-art financial system, and experience in commodity exports, growth opportunities are endless. However, for growth to happen, businesses require good business management that can navigate challenges and run operations effectively. This can grow South Africa’s economy and open doors to international business opportunities and investors.
8 New and Emerging Business Opportunities in SA
South Africa is filled with business opportunities for professionals and budding entrepreneurs. Some of these opportunities include the following.
1. Renewable energy sector. Due to our current electricity issues and increasing load-shedding schedules, the need for alternative energy sources, like solar, has increased dramatically. This creates an opportunity for entrepreneurial-minded individuals to start solar businesses — which, in turn, creates new jobs.
2. Information and communication technology. The IT and artificial intelligence industries have grown tremendously due to digital transformation. This creates several business growth and expansion opportunities, including mobile applications, cybersecurity, and eCommerce.
3. Tourism and hospitality. South Africa has a tremendous natural offering, including beautiful sightseeing, wildlife, and more. This appeals to a broad sector of tourists, adventure, and eco and luxury experiences. Interested in tourism? Discover how a tourism management course will help you grow in your career.
4. Infrastructure development. There’s a need for infrastructure development, including affordable housing, water management, and transportation networks. This creates several business opportunities that could result in job creation.
5. Financial technology. The financial industry in SA has experienced a massive digital transformation, incorporating technology into virtually all banking and business finances. This includes advanced mobile payments, digital banking, and blockchain technology for increased transparency.
6. Green economy, sustainability, and waste management. Economic growth is primarily linked to a green economy and sustainable development. Therefore, more than ever, there’s a massive need for recycling, waste-to-energy projects, sustainable packaging, and green product development in South Africa.
7. Manufacturing and export. The National Association of Automobile Manufacturers in SA stats show a year-on-year increase of 10.8% due to load shedding and other weakening economic indicators. This creates a massive opportunity in the automotive industry that professionals can tap into.
8. Education and skills development. Businesses focus on upskilling their employees to remain competitive in today’s business industry. This leaves an excellent opportunity for professionals and companies to leverage e-learning platforms and create skills development programs.
Benefits of Management Studies
An Advanced Certificate in Management will help individuals navigate the dynamic business landscape. Here are some of the most significant benefits of studying management.
Expand your management skills
Business management requires several skills to succeed. This includes but isn’t limited to some of the following: learn how to harness the power of strategic planning, refine your decision-making skills, leverage capabilities and resources for maximum impact, become more adaptable and agile, navigate disruptive business models, discover the power of alliances and new business avenues, identify potential new partnerships and beneficial relationships and develop essential leadership skills.
New job and career opportunities
When you study management, you open the door to several career opportunities. Businesses are in pursuit of professionals with management capabilities and with this qualification, you’ll have the chance to step into several different types of management roles in various industries, including marketing, accounting, information systems, etc. You’ll also have the skills and knowledge to start your own business.
Learn about multiple disciplines
If you’re not entirely sure what you want your future career to be, studying management generally allows you to dip your toes into several career avenues. This means you’ll explore different business departments to determine which you enjoy most, including finances, human resources, marketing, and more.
Improve your overall marketability in the workforce
As business processes transform alongside technological advancements, managers in several industries will remain in high demand. This creates a heightened sense of job security, so you won’t have difficulty finding job opportunities.
Study for an Advanced Certificate in Management
Managers play an important role in business success and pursuing a career in management has great benefits for you and your future career. If you’d like to learn more about studying management, head to our Advanced Certificate in Management Studies online. If you are interested in a specific area, such as finances, marketing, or technology, you can also explore our wide range of Higher Certificate courses.