What is Business Management As a Course?

What is Business Management?

Business management is a culmination of two disciplines which involve organising, planning and investigating various business activities. By taking up a business management course one will have the opportunity to confidently work in a variety of industries at a variety of positions.

Business Management as a Branch of Education
As a subject, business management is a particular division of education that imparts knowledge and coaching on topics related to planning, analysing, overseeing and implementation of a business endeavour.

A person taking up a business management course will learn how the establishment of a corporation or an organization is done along with gaining information on establishing various functional units. These units include production, finance, administration, human resources (HR), sales and marketing.

The best part about a business management course and the field of business management is that it is inclusive of people of all backgrounds, that is, commerce, arts or science. Students can study business management at an undergraduate, postgraduate or even doctoral level.

Courses and Specializations under Business Management

The courses available will differ when considering the level of education an aspirant is looking at. When talking in terms of an undergraduate (UG) student, the courses generally available are as follows:

  1. BBA
  2. BMS
  3. BBM
  4. Integrated MBA
  5. BBA LLB

When talking in terms of a postgraduate (PG) student, the courses generally available are as follows:

  1. MBA
  2. Executive MBA
  3. Distance MBA

If an aspirant is looking for courses at a doctoral level, the generally available ones are as follows:

  1. PhD
  2. MPD
  3. FPM

Some of the various fields in which one can use business management are as follows:

At a BBA level:

  • Human Recourses
  • Finance
  • Marketing
  • Sales
  • Digital Marketing
  • Family Business
  • Banking
  • Insurance
  • Tourism and Hospitality
  • International Trade and Business

At an MBA level the possibilities remain the same as the above along with a few additions:

  •  Entrepreneurship
  • Advertising
  • NGO Management
  • Sports Management
  • Transport
  • Healthcare
  • Infrastructure
  • Retail
  • Material Management
  • Supply Chain
  • Textile Management
  • Public Policy
  • Accountancy
    And the list goes on.

Jobs That a Person Can Bag With a Background in Business Management

The versatility of the fields that a person can choose with a background in business management is what makes the course so popular today. Among these jobs are:

  1. Management Trainee: This job involves working under the guidance of superiors while performing the function of a manager. They would be required to know about the various operations and make sure that the work is handled in time.
  2. Sales Representative: This job involves the selling of goods, maintaining customer relations, keeping a record of present customers, and pulling new customers.
  3. Marketing Executive: People in this job are required to formulate various plans to increase the number of sales by pushing the reach of the goods they provide. They also help in strategising plans and executing them.
  4. Manager: By supervising subordinates work, thus ensure everything gets done on time, a managers job is to maintain stability and increase revenue. They help in organising the daily functioning of particular departments, often pushing them to meet targets by encouraging them.
  5. Assistant Manager: The job of a person at this level would entail helping the manager in any areas they would require assistance while handling and organising a department.
  6. Financial Analyst: By collecting information on various areas of financial improvement and analysing it, a financial analyst is responsible for identifying the various opportunities available to an enterprise. This would require handling stocks, funds, bonds, etc.
  7. Business Analyst: Responsible for predicting and finding the risks and loopholes in a particular project, a business analyst is a very important asset to any organization. They act as advisors to superiors, thus helping in the planning of future projects.

Also Read: What is Business Management Program

Blockchain Technology in Financial Market 2020 | Covid-19 Impact Analysis and Industry Forecast Report Till 2026

Blockchain is a new-age technology that works on peer-to-peer topology. Information can be stored throughout the network on different servers. Anyone can access the information in real-time but they cannot change/modify it. The security measures are enhanced in Blockchain technology.

It works as a digital ledger where the information is duplicated throughout the server. Blockchain technology has revolutionized the way the financial market used to work. One can easily record financial transactions using Blockchain technology. Read on to know more about Blockchain technology in the financial planning and analyst course market and the impact of the recent Covid-19 outbreak on the financial market.

How Blockchain Has Changed The, Financial Market?

Blockchain is changing the working culture of the finance industry in the following ways:

  • A huge amount of transactions is carried out daily in the finance market. Blockchain is making these processes faster and more accurate.
  • Security and transparency are increased due to Blockchain. You may see the transactions of some other firm but you may not be able to alter it. The hackers also find a hard time hacking Blockchain technology.
  • Cross-border transactions are being made faster via Blockchain. Earlier, cross-border transactions traversed through various banks, and the process was very slow. Blockchain also helps in cost optimization in the finance market.
  • Digital identity verification using Blockchain has helped fintech players to provide hassle-free financial services to their users. It also has reduced fraud in the market. Blockchain is enabled with cryptographic security.
  • Blockchain is a decentralized technology that helps in creating contracts between two parties. It also makes sure that the financial rules and regulations are also met. Participants can make transactions using Blockchain technology without the presence of a central authority. Everyone has access to information but can only read it.

Covid-19 Impact on the Financial Market

The impact of Covid-19 on the financial market is as follows:

  • The firms which had taken debt for their business are now facing more vulnerability towards the insolvency crisis because of abruption in financial services due to the Covid-19 outbreak. They have to do cost optimization by reducing their employees and services.
  • The stock prices have fallen due to this pandemic. There is a lot of market volatility in terms of equity and there is confusion among the stakeholders. Stock markets worldwide are witnessing a downfall.
  • The movement of employees from firms to their homes because of the ‘Work from Home’ culture has made it difficult to monitor and analyze the performance of employees. The companies are doing their best to cope up with the changes.
  • Bond and the debt market are also witnessing many changes due to this global pandemic. Many firms are facing disruptions in their financial systems and if the market volatility is not solved quickly, chances of the next recession are also there.

Finance Industry Forecasts

The finance industry has adapted to the changes very well. A lot of financial services have shifted to an online medium. The fintech giants have done their bit in maintaining stability in the financial industry.

The CAGR (Compound Annual Growth Rate) from 2019 to 2025 of the global finance market is predicted to be around 7.89% with the Asia Pacific as the highest growing market. The need for financial services in healthcare, retail, etc. will help in the growth of the finance industry until 2026.

The financial market is facing a lot of problems due to the Covid-19 outbreak but the new-age technologies like Blockchain, data analysis, artificial intelligence, etc. have helped in adapting to the ‘Work from Home’ culture and have also generated automation in the financial services. You can learn more about Blockchain technology by enrolling in various Blockchain courses available on the internet.

Skill up to Scale up- India in The Next Decade | Imarticus Learning | CEO Talks!

There has been an unheard of upward push in the wide variety of lay-offs, furloughs and agencies shutting down over the previous few months. Process uncertainty, a sour pill to swallow, has affected lakhs throughout the board, no matter in which they stand at the company ladder. Inside the wake of this phenomenon, working specialists have become to on line guides to upskill themselves and stay beforehand of the curve.

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Flexibility in the time and region of studying

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This is specifically beneficial if you’ve were given your eye on a direction from an international university however haven’t been capable of justify the costs of accommodation, stay and visas. A much wider variety of guides.

The remarkable adjustments throughout economies, the paradigm shift in the way companies are run nowadays – aided via technological improvements, and the much pointed out ‘new global order’, has pressured the company world to recalibrate their near & mid-term desires. The optimism that maintains to buoy the corporate world stems from its ability to be resilient after every disaster.

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Mr. Srinivasan’s storied professional legacy has achieved global recognition and admiration. With a career in financial services that spans more than 30 years, his accomplishments have propelled him to become a ‘CEO of CEOs’.

Prior to joining Aditya Birla Capital, Mr. Srinivasan served as the CEO of Fund Management at Prudential Corporation Asia, where he was responsible for the company’s astonishing growth in the Asian market. His expert guidance resulted in Prudential accumulating nearly $70 billion in funds during his time there.

 

Up-Skilling through Online LearningListen Mr. Srinivasan, credited with a success turnaround of Aditya Birla capital, and recognized for his ingenious business acumen, hard paintings, hazard and willpower, share his thoughts on how company India will emerge stronger, the growth drivers of the Indian economy, the upward thrust of fintech, the super improvements in digital financial system, and skilled human capital.

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