Working toward your master of science in management degree requires a lot of sweat and tears, but it’s just the beginning of what’s to come. When you finish school, or perhaps even before you graduate, you need to figure out what type of organization you want to work in. The two top options are corporate and nonprofit, and each presents its own challenges. You’ll need to decide where you want to start, figure out what kind of hurdles you want to leap, and focus on where you see your life heading as new job possibilities open up before you.
Corporate management involves keeping an eye on the bottom line while making sure there are enough skilled workers to perform the job satisfactorily. You have to stay nimble and flexible to keep up with emerging trends, changes in the supply chain, and an ever-shifting work environment in which more people telecommute than come to a physical location. This type of management requires the ability to juggle multiple issues at once while keeping an eye on the operation of the entire business.
Nonprofits rely on various revenue streams that are prone to drying up when least expected. Keeping the business running turns into a tightrope walk as you try to balance the needs of the operation against the income brought in from donations, admission, subscriptions, and other relevant revenue streams. It’s sometimes difficult to find money to maintain the organization. In the infographic below, future NEC MSM corporate and non-profit leaders will find a list of challenges that both types of organizations present. Always remember that no matter where you work, your management style sets the tone for the corporation. The more experience you have in corporate or nonprofit settings, the more skills and knowledge you bring to the table and, ultimately, the organization.