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How The Study of Business Help You Meet Your Career Goals
Transcript of How The Study of Business Help You Meet Your Career Goals
What is Business?
A business is an organization involved in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to provide service to customers for profit. Businesses may also be not-for-profit or state-owned.
1. Career Choice
Studying different fields of business offers many career opportunities
Business degree offers distinct advantages in job search
Starting career without business degree can negatively affect job opportunities
Getting a business degree is highly recommended
Provides entry to many positions
Provides a head start.
Business graduates may start their career with a larger starting income
2. Self Employment
Some people possess entrepreneurial spirit that demands independence.
The embrace self employment.
Successful self employment=significant knowledge of business.
Entrepreneurial areas include personnel, operations, marketing, accounting, finance, and management.
3. Service to Others
The survival of a firm or enterprise depends on the relationship with the environment it's in.
Learn how to maintain a stable relationship with the stakeholders in the society.
Studying business teaches people how to fulfill businesses' obligations.
Improve society by providing services such as health care, donations to charities, sponsorship of community events, and participation in community development, etc.
4. Relevance to Everyday Living
Jordan Kohn . Rachel Murauskas . Stephanie Chila
5. Personal Profit and Growth
Chance of financial gain and psychological growth.
Business world is competitive and challenging.
No place for the risks averse individual.
Personal profit and growth, psychological and economic=exciting.
Business people able to make a very good living.
Possess the wherewithal of resources to acquire life's necessities or luxuries.
Contribute to society by providing meaningful job opportunities.
Employers help create and distribute wealth through job opportunities.
Fosters a better way of life for others and for themselves.
Some Important Business Essentials:
Marketing one of most important aspects of a business.
Good marketing critical for a successful business.
Effective marketing=businesses must:
Recognize target consumers
Communicate with the desired customer.
Smart businesses take advantage of technology's effect on consumers
Use the internet and social networking sites.
Four P's of marketing: Product, price, place, and promotional strategy.
Deciding where to take a company.
Determining steps to get there.
Be aware of challenges.
Forecast future business and economic conditions.
Formulate objectives to reach by certain deadlines + steps to reach
Re-evaluate plans when conditions change
Make adjustments as necessary
Bringing together physical, human, and financial resources
Identifying activities to be accomplished
Assignning activities to groups or individuals
Coordinate relationships of responsibility and authority
Use of authority
Influence of their personnel
Supervision of employees and their work
WHY SHOULD YOU
America's most popular college major.
Most careers require knowledge of business
Acquire a better understanding of business realities.
Good understanding of business terms and ideas=more likely to succeed and make better decisions as a better-informed consumer.
YOU WILL LEARN THE FOUR BASIC FUNCTIONS THAT MAKE UP THE MANAGEMENT PROCESS
Involves measuring achievement against established objectives and goals.
Requires managers to identify sources of deviation
Provide corrective courses of action
Establish objectives and goals first
Find things that keep the company from achieving goals
Provide means of correction if necessary