A Hyper-Competitive Business Climate Creates New Job Opportunities

from the Office of the Dean

As emerging countries enter the international marketplace and established patterns of business adapt to new global economic realities, trained, skilled business professionals will be needed to help companies and institutions meet the challenges.

According to the most recent Occupational Outlook Handbook issued by the U.S. Department of Labor, Bureau of Labor Statistics (BLS), the professional and business services sector is expected to have the largest employment growth (4.2 million jobs) for the period 2008-2018.

Managing the complexity

Employment in management, business and financial occupations in particular are projected to increase by 11% by 2018. “These workers will be needed to help organizations navigate the increasingly complex and competitive business environment,” according to the BLS report, which places accountants and management analysts among the top 30 jobs in terms of employment growth.

The expansion of auditing and accounting jobs is tied to “increasing financial regulations and the need for greater accountability,” according to BLS, which credits an increasingly competitive business environment with the growing demand for management analysts.

Organizations will continue to rely on information technology to help them remain competitive. The BLS anticipates an 83% increase in management, scientific and technical consulting services jobs, a growth rate “spurred by businesses’ continued need for advice on planning and logistics, the implementation of new technologies, and compliance with workplace safety, environmental, and employment regulations.”

Preparation for the global economy

“There is no question that the business world is becoming increasingly complex, and we don’t expect that to change,” says Patrick J. Socci, Ph.D., Dean of Hofstra’s Frank G. Zarb School of Business.

“Everything in business is now interconnected,” he explains. “Take for example the recent financial crises in Greece, Spain and Portugal. It affected our stock market. That’s why we have a curriculum that is not U.S.-centric, but rather is globally focused so our graduates are prepared.”

The Zarb curriculum reinforces globalization by emphasizing student participation in international exchange programs. Students gain further experience with diverse cultures through interaction with an increasing number of international students attracted to Zarb’s programs.

The theoretical underpinnings of a business education are essential, but they must be married with hands-on experience. The Zarb School offers undergraduates a wide range of internship opportunities with leading businesses and organizations in the New York metropolitan area. “Internships are critically important,” says Dean Socci. “Not only do they allow students to see their classroom lessons in action, but also they allow students an understanding of the industry they are interested in entering. They’ll be able to assess whether it’s really what they want.”

Internships also offer entrée into the working world. “Internships often become a first job,” Dean Socci says, adding, “We are fortunate to have a deep alumni network to help us find exceptional work experiences for our students.”