management Archives | business degree

Tag Archives: management

Making the right decision..

making the right decision
Making the right decision..

making the right decision
So many people are asking the same questions over and over: is a business degree eligible for the world today? do you think that it has a wide range of jobs? does it pay well or do I have to open my own business and pay a large capital in order to succeed as a business graduate ? Okay first I want you to chill, calm down, and take a breath, just from its name “business” you should know that its a pretty successful field, nothing in this world moves without it. Think for a second each company has an accountant, marketer, public relations department, human resource services, and management those are the major basics I didn’t even mention the types of managers the economist or the amount of accountants and marketers they need AM I RIGHT??

making the right decision

As a business graduate I have worked in so many fields, business is not just about accounting,marketing, or finance it also has a wide range of subjects in which you must engage in order to pass as a business administrator or anything else in the business world, your major studies of course are accounting,economics,marketing, and finance but there are other things like information technology, psychology, human resources, management,different languages and computer skills. If you ask me in my opinion a business degree is the only degree that you’ll benefit from and will open as many doors for job opportunities as can be. Based on personal experiences I would like to tell you I worked as a teacher, an accountant in a school district and in a small start-up company, as well as a computer translator for a small website company, and taught creative writing in two different languages if that isn’t a wide range field than what is ??

making the right decision

For the paying part just remember that no one starts big you must walk your way up the ladder but for the most part giving yourself a chance to work in so many different fields will help you reach a pretty satisfying salary at the end of the month, later after gaining enough experience and finally deciding that you have found what you’re really good at and what you mostly love to do then you will need to start emphasizing on that field of study getting yourself prepared for the process of specialization into business which is where you pick what your good at what you love doing and enhance it by making additional studies getting a job only prior to that field of interest. If you don’t think any field in business suits you best then open your own business you don’t need a huge capital there are so many types of businesses you could start like an online business, a craft type business, or if you could provide a good enough capital make a small restaurant, a shop, or supermarket.

making the right decision

In my opinion a business degree isn’t a waste of time or money, on the contrary its a chance for opportunity and change. My point is make the decision that suits you best don’t hesitate to take risks life is full of wrongs and rights, its not wrong to fail, its wrong to not try to succeed.

Do You Want To Fulfill Your Dream ??!!

Do You Want To Fulfill Your Dream
Do You Want To Fulfill Your Dream ??!!

Do You Want To Fulfill Your Dream ??!!

Hey dreamers out there welcome to the world of business and lac, there are long roads to take to become any of those two choices but to gain them you have to tie them together they both have this relationship that is unbreakable so don’t try either alone. Always set your goals and properties first to reach the best outcome at the end. So your probably wondering how would you do that well that simple first you need to know what an entrepreneur is and does that’s what you I’m here to clarify for you….

An entrepreneur is simple words is the man of the hour is one who creates a new business plan in facing the risk of both profit and growth by identifying opportunities and putting it all together nicely in one big enclosed business, how did these so called entrepreneur become like this it because first they studied at a business school and managed to get themselves a business degree in order to be implementing and formulating business plans.

Do You Want To Fulfill Your Dream ??!!
Usually all entrepreneurs have this way of talking some people call it there theme but I see it as there style, it includes uniqueness, class, demand, persistence,innovation, and growth. Even at the time of trouble they have to be calm and have strength to make more solutions than disaster. There main characteristics are put into consideration of course such as there desire for responsibility, preference of moderate risk, being confident, high level of energy, or their value achievement of feedback and money. These are the rules to being in business and having that dream you always longed for.

But be careful as much as it all seems nice there are some down falls if you mess up I call it the NINE DEADLY MISTAKE RULE – “STAY AWAY”

Do You Want To Fulfill Your Dream ??!!

#1 Management Incompetence ( the most important thing is your managerial skills and knowledge don’t ever let them doubt you make your goal and set your plan in action)
#2 Poor Financial Control ( if you know that you can’t handle a business that requires loads of money make a smaller version and be prepared for all kinds of financial interruptions)
#3 Failure to Develop Strategic plan ( before you have an idea think of the plan and analyze it from different perspectives don’t hold back on your imagination)
#4 Uncontrolled Growth ( if a problem appears and you feel like it is all going down the drain remind yourself you have to rise above the situation make a back up plan and implement it)

Do You Want To Fulfill Your Dream ??!!

#5 Lack Of Experience ( always start small before going big, so you would understand how the game is played correctly, if you don’t want to turn out the one being played)
#6 Poor Location ( location is a must if your in a good location no matter how small your business could be it still could provide a pretty good income for you )

Do You Want To Fulfill Your Dream ??!!

#7 Improper Inventory Control ( check your inventory daily because you have to keep that when your customers want something they want it now, you always have to have it in stock)
#8 Incorrect Pricing ( before you start check out the people selling around you the same products you are or substitutes to yours in order to make the right price decision you don’t want to be too expensive to drive people away)
#9 Inability to make the “entrepreneurial transition” ( meaning if your not sure that you could handle the pressures of being an entrepreneur then turn it into a small business till your ready to climb that ladder )

Do You Want To Fulfill Your Dream ??!!

That about explains everything you need to know about being a high class entrepreneur just listen if it never works out big go small till your sure so you wont waste alot of time and energy into something not worth the time.

What Comes to Mind when You Hear….

What Comes to Mind when You Hear....

What Comes to Mind when You Hear….

I’m here to ask you this time around I’m tired of answering and i have a few questions that i would like an answer to: As a business owner you consistently have to keep asking yourself a billion questions over and over again, its endless chain because the world around you isn’t stable, what are some factors that could cause you to be confused all the time?, why don’t you just stick to one plan instead a million?, who out there has to deal with all the changes you deal with, how do your customers feel, or where does your mind take you when you here Operations Management?

well while you answer in your own way i have a theory as well, The factors that change around us aren’t limited they can include products, services, consumers, time value of money, or competitors etc.. sticking to one plan means you’ll never flourish to get that opportunity of a life time to rise with the market but instead you’ll find yourself in debt after a while…your consumers make the change for you people dealing with it are like me and you business owners or just competitors…your customers will always have a specific vision in their heads that you might not be able to achieve but that’s okay because they always have a backup image the one that you make for them with a price to fit their needs.. thinking of operations management i know i put my foot into a big pile of products and service adjustment and changes.

So what is the solution you ask its simple, read about operations management and be careful with every stage because they all complete each other like a sort of cycle that turns round and round, Operations Management is the part of your organization that is responsible for producing goods and services, it also traces feedback from consumers to see the level of satisfaction they are at, so they can improve quality and cost. There are Three main steps for operational management Design, Operation, and Improvement of productive system…

Design is the number one aspect in a products feature, along with packaging there the first impression for the product if the wrapper of a candy has two people killing each other on it would you rather buy that or buy a regular candy bar with a shiny package, for me i would go with the second one maybe many people may not agree with me on that but almost 95% of the population would, its described as the plan to reach the consumers hearts and the firms goals.

Operations as the second step it falls after design placing number two on your to do list, the operations here refer to the management of the product phases from top to bottom are also referring to the look out for competitors and it doesn’t stop there be aware of the time value of money along with comparison to you competitors try to always be the middle price.
For example: lets say there is a coffee maker at store x for 10 dollars and at store y its for 11 dollars then you fall in between you sell yours for 10.5 dollars.

Improvement of Productive System the last and easiest step to do, here after all the hard work is done and your product is in the market you should look out for feedback actually you should go look for it yourself, after feedback from your consumer comes back you take that feedback put the good in a pile and the bad in another after sorting them out turn the good into excellent and then the bad into good, and that’s how the process keeps moving for each product you distribute.

For More information about Operations Management check in again I’ll be adding some more great information and advice.

The Number One Do On Your List

The Number One Do On Your List

The Number One Do On Your List

Each and every business has a do’s and don’t’s list which is like a journal where you write down all the things you want to do and see if they will work out for you in the environment your planning to be running your business in, to do so you have to make a chart but not any kind of chart: it should be the activity based chart this chart distributes the activities, management, and costs of the company. First step to apply this chart correctly take out your financials and start by making an activity based costing also called ABC chart this will help you :

a) Allocated the money in the right place.
b) It determines the cost to perform activities yet it doesn’t reduce cost or create more cost its all based on the financials you have for the project.
c) and Forms the basis for process improvement this leads to the second step

Second Step:

Activity based management this step is also called ABM it evaluates the cost and value of activities to identify opportunities for improvement, it identifies value added and non-value added activities and works on enhancing value added ones while reducing non-value added ones, usually to do that sufficiently make a list of all the departments you have and start thinking of each separately and asking yourself are they value adding or non-value adding. for example make a list like this:

Activity value adding non-value adding

Material handling yes no

HR department yes yes

Set-Up no yes

Packaging no no

now this a bit confusing if you get a double no or a double yes then that department is half good and half bad so what you have to do in that case is draw up all the problems you believe aren’t causing you to be satisfied with your department or product, and then try and figure solutions out. You could also hold a meeting and discuss all the things you don’t like with your staff and see if they have any ideas as well. After you make this list ask yourself a couple of really important questions like if i changed this activity would the consumer enjoy it?, does changing this activity help the organization reach its goals? always keep the questions coming because that will also help you realize any other weaknesses you might have in your firm.

In the ABM Step there are several functions it takes the liberty to perform as such,
– Make your activity analysis ( the list above)
-Identify your cost
-Identify opportunities for improvement (all discussed in the above paragraph)
-Identify the root cause of the problem dig so deep inside each activity you write down and don’t just cure the symptoms no you have to fix the problem and like i said earlier ask yourself as many questions as possible.
-Estimate the costs of fixing those problems and evaluate how much you have saved.
– Make the changes and evaluated the results if all works well repeat it all again for a different activity.

The Last and Third Step is how to implement both the first and second step together in one plan:

this step is called ABC/ABM implementation meaning putting your knowledge from step one into step two to get a better organizational culture, start looking at the firm from a deeper end and willing to provide change, it helps enlarge the firms communications and brings upon teamwork, as well as wrapping up the scope of your project into one chart starting with resources ending with goals.

This is a great method for businesses with trouble if you try it out and it doesn’t work then your firm is already well on its way but is just going under a bit of pressure which happens to the best of companies.

Pros and Cons of Business Life

Pros and Cons of Business Life

Pros and Cons of Business Life

Every little inch in our life and our bodies has its own pros and cons some are visible and some aren’t. But in the business world there are many mistakes that have been made by early entrepreneurs which we are learning from today, the motto they all follow is ” Management before Business” meaning the best way to get your business running is by creating a strong bottom block of managing, managers, and management skills.

Global Business Management has many branches but the most important and frequently used is Strategic Management because it binds together a set of managerial decisions with the actions taken to determine and achieve the long run performance of the corporation. This branch includes some important tasks to study the business environment very well, it scans the internal and external environment, formulates strategy and implements it, as well as evaluating and controlling the strategy results.

This cycle has to be undertaken in a specific technique meaning that you have to follow a sequence of four small phases in order to get the results you want:

1) Start by drawing up your financials all in a small black book where you will perform your basic financial planning process.

2) Then you forecast those financial draw ups that you made also in the form of a forecast-based plan.

3) Next you make your external planning chart to see the opportunities strategically from many different points of views such as location,size,financially, or demographics etc…

4) Finally combine the four tasks we mentioned earlier about strategic management to make the perfect strategy.

As successful as this maybe keep in mind that your strategy should be updated from time to time because like the time value of money changes so do consumer tastes , and market prices always be aware of those changes and continuously update your strategy so people won’t get bored and leave. This is called Strategic Flexibility where you shift from one strategy to another according to changes around you.

I can assure you that there are more benefits (pros) than risks (cons), some of the benefits that you’ll find from building up a continuous strategy are clearer vision for where your firm is headed, a great focus on what is important, acquiring understanding skills of the changing environment, improves organizational performance, ties between strategy and changing environment, and most important helps keep business balance in an unstable environment.

However the risks you could encounter are rapid climate changes in the environment such as litigation risk, reputational risk, product and technology risk, also you could face globalization impact where too much globalization isn’t healthy in changing environments.

Like I mentioned earlier the pros are greater than the cons if you start your business right then you won’t have to worry about a thing, you’ll be set the most important thing to keep in mind is if your bottom block is strong then anything that happens in the middle or at the top is fixable because the base holds it all.