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Tag: Business Management Course

What is Business Management As a Course?

Posted on by Imarticus Learning
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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

What Imarticus Brings For You in A Zero Defects in Business Management Training on The Teacher’s Day??

Posted on by Imarticus Learning
Reading Time: 3 minutes

 

Business Management Course in Imarticus Learning

What is business management training all about?

When you enrol yourself for a course like this, you must be ready to explore even the smallest elements of business functioning.

Business management training provides insight into the planning, execution, supervision and an overall analysis of the business.

To begin a business or to be a part of an existing one, one must have a knowledge base about the basics of business operations.

Successful completion of the course on business management Course during graduation and post-graduation level will help you in landing into various managerial positions in top companies.

Business management training in the current scenario

Business Management CoursePeople nowadays are very much interested to build a business management career as there are innumerable business start-up opportunities out there in the world. Having an intricate knowledge of the field can make you thrive in your career.

Concept of Zero Defects

The idea of zero defects came from the mind of Philip B. Crosby who thought that the performance of any employee should have a standard of no or zero defects.

Zero defects Business Management TrainingIn simple words, he tried to explain that the best motivation that can be given to an employee is by making him feel personal about the work he is doing. If employees can relate to the tasks they are involved in, there is no chance of defects in the workplace.

Philip penned ‘Absolutes of Quality Management’ putting forward his thoughts on business management which is still considered significant. According to Crosby, there are a total of four absolutes.

  • The definition of quality is conformance to requirements

This points the fact that production being a paramount department of any business must involve a greater downward flow of product-related information and specifications so that the production employees do not generate a quality of their own. If a new worker is not guided about the exact quality requirements of a product, there are high chances that he establishes quality standards according to his judgement and understanding.

  • The system of quality is prevention

Every production department has a criterion for inspection of goods.

Quality work in business management

Crosby makes a point by stating that rather than being fully reliant on inspection, a defect-free approach of production must be carried out. If the workers are trained in such a way that they commit fewer mistakes in the first place, the tendency of defects can subsequently be brought down. The zero-defects production can, later on, be backed up by inspection.

  • The performance standard is zero defects

If a worker sets a zero defects performance as a standard for himself, the whole problem of wastage of resources can be solved easily.

  • The measurement of quality is the price of non-conformance

With this statement, Crosby tries to override the misimpression that higher quality can only be achieved by incurring higher costs.

Institutions like Imarticus provide thorough professional knowledge and training on these subjects which can help you learn better about this field.  They also provide proper assistance for your placement in a well-known company. You should check out the details of the courses that Imarticus offers.

Related Posts:

https://imarticus.org/what-is-business-management-program/

https://imarticus.org/top-business-management-questions-and-answers/

Feasibility Study: Types and Importance in Business Management!

Posted on by Imarticus Learning
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Feasibility study, as the name indicates, is an analysis of the feasibility of a project both technically and legally and if it is economically justifiable. This helps an organization from making the wrong investment. A project can be unreasonable for many reasons. Some might require too many resources that would keep them from doing other tasks.

This might eventually cost the company more than what they have invested in the projects.  A good feasibility study covers key areas like the details of the services or products related to the project, account statements, legal obligations, tax requirements, financial data, and policies. Some projects might require additional investment in technology and for implementation of the project. Feasibility study finds relevant in the current-day business landscape which is severely affected by the COVID-19 pandemic.

Many organizations prefer to ensure the feasibility of a project before investing in that. This makes it an excellent career choice more than ever. To pursue this career, you may enrol in a Business Management Course.

Different Kinds of Feasibility Studies

Depending upon the type of project evaluated, feasibility studies can of different types. Some important types are:

Business Management CourseTechnical Feasibility Study 

In this type of project assessment, the focus is on technical resources in a company, and if their technical team is skilful and capable of converting the concepts and ideas into practical working models. The person is also responsible to evaluate the technical requirements including software, hardware, and other components.

Economic Feasibility Study

As the title suggests, the role deals with the cost factor. This role is designed to help the organization to decide if a project is viable and economically feasible, after evaluating various factors. This is done before allocating the financial resources needed for a project. Assessing a project independently also helps enhance the credibility of that project, and to evaluate the economic benefits the proposed project brings to the organization.

Legal Feasibility Study

While finalizing and approving a project, it is important to make sure that it does not conflict with the legal aspects about the subject – data protection rules, social media regulations or zoning laws.

Business Management CourseFor example, if an organization is planning to build a new office or moving to new premises, the legal feasibility manager is responsible for making sure that that kind of business is allowed in that location, and that locality is not part of any special zone with restrictions to certain businesses.

Operational Feasibility Study

Operational feasibility assessment involves a thorough analysis of a project and its outcome to determine if that project can satisfy the needs of the organization. Mostly requirement analysis is done while the system development is in progress, and while doing a feasibility study, the capability of the project to satisfy the needs identified during requirement analysis.

Scheduling Feasibility Study

For any project, the timeline is important. A project will not be able to deliver the expected result if not completed on time. Scheduling feasibility is concerned with estimating how much time would it take to finish.

The Relevance of the Feasibility Study

Organizations need to invest in the right project. So before committing, organizations prefer to analyse the project in terms of resources, budget, and time. Sometime, feasibility studies could help to unearth a new idea or scope. Also, conducting a feasibility study is important for the stakeholders to get a clear picture of the project. Conducting such a feasibility study has many other benefits including:

  • Helps in decision-making (about the project).
  • Improves the success rate by assessing multiple factors.
  • Identifies and establishes a strong reason to take on the project.
  • Recognizes new opportunities for improvement.
  • Identifies flaws and unreasonable grounds to call off a project.
  • Improves the focus of the project team.

You now know the importance of feasibility studies. If you want to pursue a business management career, enrol in a good course offered by a reputed organization like Imarticus Learning.

Not only you get business management training from good faculties, but also get to build your network and secure a good job. Imarticus has partnered with many leading organizations to get a good launching pad for their students. After all, what could be a better beginning than working with a market leader!

Top Business Management Questions and Answers!

Posted on by Imarticus Learning
Reading Time: 4 minutes

“Management is the art of knowing what needs to be done, and doing it in the best possible way.”

-F.W. Taylor

From the above definition, we can absorb the basic principles behind any form of management; planning and its implementation. Building on these lines business management is scientific as well as the artistic process by which an organization plans, organizes, directs and controls its workings to maximize its profits.

Business management is often regarded as a lucrative career choice offering a wide range of roles from office managers and product managers to chief executive officers.  This is also a reason why there has been a sudden upsurge in the demand for business management courses like MBA.

A business manager usually needs to take key decisions about the operations of the business which directly affects its profitability. These decisions are usually domain-specific; financing, marketing, operations and human-resource-management, which maps the overall present and future trajectories of a business.

The relevance of business management in this era cannot be overstated as a business manager acts as the policymaker for organizations

What are some common business management questions and answers

  1. How businesses contribute to economic development?

The economic development of a country is measured by the growth in the gross domestic product of a country.

Business ManagementWhen business enterprises are doing well, they directly increase the GDP of an economy (profitably) leading to an increase in the country’s overall wealth.

Moreover, it also generates employment in a nation and increases the standard of living of the people. Therefore, business is the most important contributor to economic development.

  1. What is a SWOT analysis?

SWOT is the acronym for strengths, weaknesses, opportunities and threats.

Business ManagementThe strengths and weaknesses analyse the internal environmental attributes of a business which are under the control of the organization, whereas, opportunities and threats examine the external environment of the business which the organizations cannot control.

A SWOT analysis is an important tool for managerial decision making and is widely used across multiple business functions.

  1. How can one ensure that a business remains relevant and competitive?

To ensure that the business is competitive and relevant, one can develop the following strategies:

  • Spot emerging trends and developments pro-actively
  • Devise a strategy to expand and diversify operations
  • Make sure that the company can attract and retain good talent
  • Utilize scarcely available resources judiciously
  • Keep innovating and satisfying all its stakeholders
  1. Is management a science or art?

Management is an amalgamation of art and science, containing attributes of both. While on one hand it is based on certain principles, practically conceptualized, through a continuous process of experimentation, on the other, it leverages the creativity of personnel, based on one’s experience and knowledge to achieve desired objectives.

  1. Business ManagementHow could one get better results from its subordinates?

Management is the art of getting things done, by people or things. To achieve better results from subordinates one can either delegate authority and responsibility or arrange for employee training.

  • In delegation, a manager provides certain operational authority and responsibility to its subordinates, which builds a mutual relationship of trust, thus boosting employee morale and productivity.
  • A manager can also enhance the skillset of its employees by various training exercises like mentorship, coaching, seminars and so on.
  1. What is the difference between pro-active and Reactive decision making?

A pro-active decision constitutes making decisions in advance to plan for future contingencies so that risks are being dealt with even before they crop up.

Business ManagementA reactive decision making, on the other hand, is one where situations and risks are dealt with, as and when they occur. A reactive decision is taken for emergencies whereas a pro-active decision tries to deal with situational risks through predicting them in advance.

  1. Which approach of decision making is more appropriate – centralization or decentralization?

The choice approach completely depends upon the nature of the decision to be made.

When the decision has to be regarding the overall policies of the organization then a concentrated decision taken by a small group of people makes more sense as it ensures coordination throughout the length and breadth of an organization.

Conversely, when a decision on a particular function has to be made, a decentralized decision making allows the organization to leverage the benefits of specialized knowledge of the functional managers.

Therefore, for a decision regarding the debt-equity ratio in the company balance sheet, the company CFO would be more preferable compared to the board of directors who are more likely to take more centralized decisions, like the percentage of shareholder dividend.

  1. What is BPM life-cycle?

BPM stands for business process management. BPM life-cycle is for continuous business process improvement. It captures the entire business process in a structured way, then monitors and optimizes the process. This cycle of process improvement repeats continuously throughout the life of the processes.

Business Process ManagementA Business Management course from Imarticus learning will help you master the art of answering different questions from the business domain.

5 Reasons To Study Business Management!

Posted on by Imarticus Learning
Reading Time: 3 minutes

Introduction

Business Management has become a very popular course in recent times. It has gained this popularity due to the wide application of the values taught in the corporate world. People with a diploma in Business Management course are at the helm of affairs in different companies throughout the world.

Business Management Course

Therefore, to make your mark in the industry you will have to be on par with the best.

A business management degree would help your cause. About one-third of the employers have raised the level of educational pre-requisites. Therefore, a degree business will help you in positioning yourself in a better way.

Reasons to Study Business Management

A business management course is multifaceted. It gives you insights on what goes around in the corporate world, how different organizations function, etc. Also, it opens your door to several opportunities. These opportunities give you a platform to explore your field of interests and then make a career out of those interests. Some of the most important reasons to study business management are listed below:

Developing an entirely new and broad skillset

With a degree in B, you get to learn skills which were never known to you. The course teaches you several new things. Also, these skills would be used when you take up a corporate job or decide to start your venture.

These courses teach you to think critically and approach the problems innovatively. A degree in BM will also improve the following areas:

  • Your presentation skills
  • Your writing and report making skills
  • Interpretation of different financial statements
  • Efficient and Effective management of resources

These skills would be used in your job someway or the other. Also, these skills will make you smart.

Gaining a Global Perspective

A business management degree is not limited to our country or the region you live in. It gives you a fair idea about how things function across the globe. The course builds a perspective through which you can scan and analyse the systems operating in different countries. With this broad framework, you can seek opportunities outside your country. A business management degree helps you build a tolerance for all kinds of people and systems. You become culturally diverse and more accepting.

Helps you in networking

You meet a lot of people from the industry while pursuing a BM degree. Also, the people who are studying along with you come from different backgrounds and a different set of experiences. You get to learn from all of these experiences. Also, this course gives you a platform to interact with different people and grow your network. This course is rather an investment.

Business Management Course Better Job Prospects

Companies today are looking forward to hiring people from a business background. They prefer business graduates as these people already have a fair picture of how things work in the corporate world. This saves a lot of time and money. Also, with a few training sessions, the business graduates are ready to go.

Different subjects

The curriculum of business management is quite different as compared to the other courses. They teach you subjects like strategy, marketing, communications, finance, etc thus covering all the aspects of the world in which we live. These courses also have quantitative modules like mathematics and statistics as a part of the curriculum. This gives an in-depth insight into all areas involved in the functioning of our dynamic environment. Subjects like supply chain management will help you understand the nuances of business models.

Conclusion

A business management degree is not just a degree but much more. It teaches you ways to run the world. A course in business management will make you industry-ready.

What is Business Management?

Posted on by Imarticus Learning
Reading Time: 3 minutes

Business management is an umbrella term for the theory and practice that is employed on the regular when operating a business. It is interdisciplinary in that it involves business administration, marketing, finance, economics, accounting, and information systems.

On the practical side of things, business management involves planning and strategy to seamlessly integrate multiple departments such that they work much like well-oiled cogs in a machine.

A business management course certification comes in handy regardless of the size, scope, and industry of the company you choose to work for.

Business management principles are intrinsic to the growth and success of a company as they enable reduced operation costs, better employment rates, increased productivity, and seamless regulation compliance.

Depending on which level of education you’re at, you can pick one of the following degree tiers in business management:

  • Bachelors
  • Masters
  • Diploma
  • Certification

What a Business Management Course Gives You

Upon completing a business management course, you’ll set yourself up for a variety of careers in fields including accounting, finance, investing, marketing, and management. Some roles you could look into are:

  • Business Management CourseSales Manager: You’ll be responsible for training and managing a team of salespeople, often traveling to meet clients and represent the company you work for.
  • Management Analyst: In this role, you’ll be tasked with creating plans to improve management structure and efficiency.It is a strategic and analytical position that involves decision-making for better profitability & higher employee productivity.
  • Financial Analyst: This role involves analyzing individual and company investment decisions, advising on stocks, and keeping track of investment portfolios and performance.

What You’ll Learn in a Business Management Course

A typical business management course explores the basic principles of management including planning, staffing, and leadership. You will be exposed to business laws, compliance, and regulation; you’ll then move on to private and public sector finance and investments.

Some courses also explore fundamental marketing concepts, including but not restricted to market research, strategy, decision-making psychology and strategy-building. You will also come across economic principles including inflation and global financial systems.

When picking the right business management course for you, you’ll want to evaluate what they offer along with some other influential factors:

  • Business Management CourseSyllabus: Look through the curriculum to evaluate how concentrated or expansive the topics are. Depending on which level of education you’re at, you’ll find that niche courses target specific skills and are ideal for those with at least one degree.
  • Learning style: The ideal course must offer both theory and practice to enrolled students. Practical aspects could involve case studies, seminars, hands-on projects, and mentored assignments.
  • Job scope: Hopeful students must determine the weight of the degree or certification and how it influences their position against other competitors in the job market.
  • Faculty: A good course should be facilitated by faculty members who are experienced in the field and can guide students both during and outside the course. Give out brownie points for staff who have worked in a company you’d like to work at and seek them out when you join the course for guidance and mentorship.
  • Budget: Business management education can be a bit more on the expensive side. Hence, it is critical to evaluate your budget and whether the courses that fall under that budget checkboxes in the other categories stated above.

Conclusion

Business management can be studied at a variety of academic levels and concentration tiers. However, it’s safe to say that any business management knowledge can prove very helpful in the workplace and the job market!