These days every small think is becoming business.
For example, in south Indian weddings, the caterers who cook for the weddings have jointly started a small company and has got license for running it as a business and I saw their advertisement on tv.
What an idea!?
Business can be said as a place where ideas meet.
But ideas, since they are not living entities by themselves, meet in the form of people.
People meet and share their ideas.
Business is a very huge domain which includes people management, sales, marketing, advertising, systems, finance and many more.
Since I have been doing Masters in Business Administration, I find this as a part of my curriculum and it is rather very interesting than boring.
BUSINESS IS ABOUT DM
A good manager is the one who takes intelligent decisions by understanding the mindset of his employees in the organisation. The decision once taken will affect the future of the employees and also the organisation.So, umpteen number of skills has to be possessed by a manager.
Very few of them which I can predict are listed here:
1. Critical thinking
2. Understanding others' POV
3. Effective communication with internal and external customers
4. Ability to manage people
5. Leadership skills, etc
BUSINESS IS ABOUT EVERYTHING UNDER THE SUN
Starting from the dawn till the dusk, whatever we come across in our real life is a business in one form or the other. The street hawker selling vegetables--> B
You are using a particular brand of tooth paste and tooth brush only, because your dentist has recommended it --> Again it is a business, because your dentist gets paid after every consultation
Your maid at home prepares breakfast and lunch for your family --> B
Wherever, cash is involved, there transactions are involved and there business is also involved.
You go out to watch a movie with your friends, I am telling you, Media is the huge form of business.
Each and every minute aspect of life that happens around us is business in disguise.
MONEY IS THE LANGUAGE OF BUSINESS
We can say money is the medium for business. Money makes many things. People just knowing how to double and triple their capital are those who excel in any business. A proprietor should know when to invest? what to invest? and how much to invest?
Among the two types of motivational techniques used by managers for motivating their sub ordinates, money is also a form of motivation, known as positive motivation.
Either by giving incentives to an employee or by a raise in their salary, employees can be motivated.
STOCK MARKET--> A "DO OR DIE" PLACE!
A most money sensitive area is the stock market. A place where you can convert the amount of grey matter in your brain to money iff you know the tricks and tactics of the market. In a macro economic market, the role played by s stock market is very huge in determining the value of a country's money. The value of a country's money directly determines other major macroeconomic factors like inflation, deflation, GDP, per capita income of a country etc.
TRENDS
Business is a very dynamic world wherein trends change very rapidly. Hence managers have to be voracious readers. They must be capable to read and understand the trends in the market and to adapt the apt changes in their business accordingly. They should have solved many case studies and should have the very high grasping power needed to understand and solve any problem. In Business statistics, the trend analysis in the market can be quantified using many formulae for forecasting techniques and for trend analysis.
CONCLUSION
The aftermath of studying about business in a Anna University Affiliated college has taught me so many things about business, which has helped me a lot in writing this post. Shabhaa....oru vazhiya exam mudinjum, naan padhichadhu, enna vittu marakka mattudhu!
Translation: Though my semester exams have got over, I am unable to forget the concepts that I have studied in the subject.
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