MBA US Blog Posts

All Blogs
Top 10 Books on Leadership to Read to Become a Better Leader
5378
Leadership is one of the most coveted skills for any individual, helping in all kinds of scenarios, whether work-related or not. If you want to efficiently take your team and organization to new heights, developing leadership skills is a good way to go. There is always something to learn for new leaders or seasoned veterans. Reading books on leadership is a great way to acquire knowledge on this subject matter. Finding the right book for you in the sea of books can be difficult. In this article, we have shortlisted some of the best books on leadership by cherished writers for your learning needs.  Best Books On Leadership Skills In this list, we will discuss some of the best books on leadership for new and adept leaders alike. The books are as follows. 1. The First 90 Days By Michael Watkins In this book, Harvard Business School professor Michael Watkins talks about how to get up to speed in a new managerial position in the first 90 days. We all know how important first impressions are. This book discusses how to take charge of a new office, avoid new leader pitfalls, and manage your team efficiently.  This book is great for leaders settling in their new offices who want pro tips on avoiding common transition traps. 2. EXECUTION: The Discipline of Getting Things Done By Larry Bossidy & Ram Charan The very successful CEO of Honeywell International Inc., Larry Bossidy, brings his expertise in collaboration with Ram Charan into this book. The book’s central theme is to bring out the best in people working for you. The book explains how the most important characteristic of a leader is not a strategy, innovation, or anything else but the ability to get things done efficiently. He talks in-depth about the three keys of execution: people, strategy, and operations.  This book is great for young entrepreneurs starting a new venture and experienced veterans alike. This book should be on your list if you are looking for the best books on leadership. 3. Emotional Intelligence By Daniel Goleman(1995) Daniel Goleman forces you to think about what it means to be smart. He talks about how Emotional Intelligence is more important than having a high IQ. According to his research with renowned psychiatrists, our decision-making is handled by the rational and the emotional mind. Factors like self-awareness, self-discipline, and empathy add to make a different kind of smart. The book unravels the emotional side of our mind, which helps us understand people better, thus enhancing our leadership qualities.  This book is definitely one of the best books on emotional intelligence. This book is great for leaders looking to get an insight into the human mind. 4. The Art of Possibility By Rosamund Stone Zander & Benjamin Zander This book aims to open your eyes to the endless possibilities in front of you. It covers 12 very effective practices for bringing creativity and giving you new perspectives. The book communicates its themes through stories, parables, and personal anecdotes. This book is very optimistic in nature. It elaborates on how assuming the best in people breaks a lot of personal barriers and brings out the best in them.  This book is great for leaders who want to improve their communication skills and be more optimistic. 5. Real Leaders Negotiate By Jeswald Salacuse This book goes in-depth with the central topic of negotiation. It discusses how to use negotiation skills in all sizes of organizations, be it public or private. A good leader is always a great negotiator. This book teaches basic negotiation skills with examples of high-profile cases. These cases provide insight into an adept negotiator’s thought process. The book examines the role of negotiation in attaining, exercising, and retaining leadership in an organization. It is one of the best books on negotiation in the market right now and is a great read for leaders trying to work on their negotiation skills. 6. Drive: The Surprising Truth About What Motivates Us By Daniel H. Pink This book aims to change the common perception about what motivates us. Pink goes on to say how the carrot and stick approach is not very effective. He asserts that to get satisfaction from work, you must satisfy the deeply ingrained human need to direct your own life and learn new things. It classifies every task into two categories. Tasks are either algorithmic or heuristic in nature. Algorithmic tasks include repetitive tasks, while heuristic tasks require innovation and do not have any set of fixed instructions. This book draws its information from four decades of Psychological research on human motivation.  It is a great book to read for leaders who want to motivate their teams better. 7. The 7 Habits of Highly Effective People By Stephen R. Covey “The 7 Habits of Highly Effective People” has been a fan favorite because of how timeless the content is. This book does not attend to period trends but innate habits that will surely lead you to success. Some of the seven habits include being proactive,  having a clear end goal, understanding priorities, having a positive mentality, learning to synergize, and striving to be better. These key elements or habits are the foundation of every successful leader who has proven themself proven themself time and time again.  This book has inspired a generation of great leaders and should be on your list of books you want to read on leadership. 8. Good To Great By Jim Collins Good To Great examines the performance of 1,435 companies over a span of 40 years and finds 11 companies that became great. This book answers where the other 1,424 companies went wrong and what truly makes a business stand the test of time. It goes into detail on what these 11 companies did that made them stand the test of time and made them great.  It provides insight into leadership that turned the tide and built a culture of discipline. It is a must-read for any leader or business owner. 9. Primal Leadership By Daniel Goleman, Richard Boyatzis, and Annie Mckee   This book is about whether keeping emotions out of the workplace is the most effective way to be productive. It raises awareness about emotional intelligence(EQ) and how it can make people in a workplace more effective, efficient, and productive. Goleman emphasizes the fact that employees work their best when they feel good. The book talks about “primal leadership” and how the fundamental task of a leader is to prime good feelings in those they lead. It is one of the best books on emotional intelligence in the market right now. 10. Getting To Yes: Negotiating Agreement Without Giving In By Roger Fischer, William Ury, and Bruce Patton This book is all about isolating problems. It teaches you to focus on interests, create new options and help the two parties reach a common ground. The book offers you a straightforward, universally favored approach to handling professional and personal disputes without involving anger. According to many, “Getting To Yes: Negotiating Agreement Without Giving In” is arguably the best book on negotiation in the market right now. All the authors were a part of the Harvard Negotiation Project. Learn MBA Courses from the World’s top Universities. Earn Master, Executive PGP, or Advanced Certificate Programs to fast-track your career. Conclusion Leadership skills help in not only our professional lives but also our personal lives. Good leadership skills are sure to give you a jumpstart in your career. Books are a great source of theoretical information, but it is not a substitute for a full-fledged course with experienced faculty on this subject matter. Consider enrolling in the Master of Business Administration(MBA) at Liverpool Business School from one of the most prominent online education leaders, upGrad, to advance your career. You can also check out our free courses offered by upGrad in Management, Data Science, Machine Learning, Digital Marketing, and Technology. All of these courses have top-notch learning resources, weekly live lectures, industry assignments, and a certificate of course completion – all free of cost!
Read More

by Keerthi Shivakumar

27 Apr 2023

Must Read 26 HR Round Interview Questions & Answers [For Freshers & Experienced] in 2024
513
HR interviews are conducted across companies to check if the candidate is a cultural fit for the company. They also check your behavior and mentality to ensure that the values that you possess are in line with the company’s values and mission. Therefore, you must have a fair idea of the HR interview questions to handle them easily.  The article will discuss a few important HR interview questions with answers. It would be best if you glanced through these questions before you sit for your next HR round.  Importance of HR Interview Round Before you go through the HR interview questions and answers, you must understand the importance of the HR round for companies. It is an integral part of the hiring process as companies want to understand everything about the candidate before they hire them.  While most companies are looking for people with technical proficiency, they also want someone with soft skills and personality traits to do the job effectively. The HRs usually pose straightforward questions but might ask tricky questions to understand how you handle practical situations.  How to Prepare for the HR interview There are a few things that you must consider apart from glancing through the HR interview questions and answers. Some of these considerations include the following:  1. Know the Job Profile In most cases, HR questions asked in an interview are related to the job profile. Therefore, you must know the job profile in and out. Do your research about the company to learn what the job demands and the traits of an ideal candidate for that company.  2. Go through the Resume The primary purpose of matching your resume with the job profile is that the company should look at your candidature as a perfect fit. So, check your resume thoroughly to know if you have added all the necessary information aligned with what the company seeks for its next candidate. 3. Give Mock Interviews Take a few mock interviews before the actual interview. You must prepare yourself by taking a mental interview or asking someone to pose the questions. These interviews will give you an idea of how you handle the questions and the kind of answers.  HR Round Interview Questions with Answers Let’s look at some HR questions and answers so that you are prepared for the HR rounds during the recruitment process.  Q1. Tell me something about yourself. Ans. I am Shruti, a computer science graduate from XYZ college. I have good analytical skills and have used them to develop several tech-based products. When I am not working, I love spending time with the elderly, which helps me spread love and joy. I also love traveling, making it a point to travel at least once every year.  Note: These HR interview questions must have an answer that gives a touch of both your personal and professional life.  Q2. Why do you want to work for this company? Ans. I would love to be a part of a company that lives by its value. Your company has been a breeding ground for several great leaders, and I want to learn from their experience. Also, I believe in the line of products that the company sells, which has excellent growth potential. It is also one of the major reasons that compelled me to join this company.  Q3. Do you consider yourself a successful person? Ans. Success takes time and effort, and I am still on the journey to achieving success. I like coming up with new ideas and watching them succeed. However, I push myself if my thoughts don’t pan out as I want them to. Success is also not individual; it comes with the collective efforts of everyone around you.  Note: You should answer these subjective questions carefully. Try summarising your career goals and avoid sounding self-centric.  Q4. Are you open to travel? Ans. I like meeting new people and experiencing new cultures. Hence, I love traveling. I am always up for new experiences. Note: This is a trick question. It checks your adaptability. It would be best to answer them positively unless you have serious apprehension.  Q5. Why are you applying for this job? Ans. The requirements of this job match my skill set, which compelled me to apply for this role. I have significant experience in the relevant domain, which makes me believe that I will be able to make some major contributions to the company through my hard work. Q6. Are you okay with working additional hours? Ans. It is all about prioritizing. If the work is urgent and it needs my immediate attention, I will be okay to sit for a few additional hours. However, if the work can be pushed to the next day, I will try to come up with a solution, as I deeply value the work-life balance. Q7. What is more important to you: Work or Money? Ans. While money is essential, it will not bring much value if you don’t enjoy what you do. Also, if you work hard, money will follow.  Note: Always show that you are not too materialistic during HR interviews.  Q8. How did you come to know about this role? Ans. I have always wanted to work for a prestigious company like yours. Hence, I am on a constant lookout for opportunities at this company. I got to know about the role through a LinkedIn post. I read the job description and thought it would be a good fit.  Q9. Why did you leave your last organization? Ans. It is a big career move that I want to make. I have enjoyed my time at my last company, and I wanted to take on a more challenging role now.  Note: You must refrain from answering these questions with statements like I want more money.  Q10. Why should we hire you? Ans. I have significant experience in this field and would like to use it to offer my humble contributions to a company like yours that aligns with my set of values.  Q11. How much salary are you expecting from this job? Ans. I am more interested in the role than in how much it pays. However, I would like to be paid at par with the current industry standards and according to my years of experience.  Note: Instead of quoting a figure, you can give them a percentage hike or the current industry standard for the role.  Q12. How long do you plan to work for the company? Ans. I plan to stay as long as the work keeps me dedicated and excited, and I am satisfied with the job. Also, if the company’s environment is healthy, I don’t see a need to change my job.  Q13. How do you rate your candidature on a scale of 1 to 10? Ans. I want to rate myself an 8 out of 10 because I am good at what I do, but there is always room for improvement. The gap lets you keep working and putting in the effort to make the most out of the opportunities given.  Q14. What has been your biggest achievement in life? Ans. My biggest achievement so far in my career is to win the campaign of the year award for my brand campaign. Note: Try to talk about work-related achievements in this section.  Q15. What do your goals look like? Ans. In the short term, I want to work with an organization that gives me a platform to enhance my skills. In the long term, I want to rise to the ranks and take a managerial role in a fast-paced environment.  Q16. What are your strengths? Ans. My ability to take the initiative is my strength. Also, I am quite proactive about the challenges I take up myself.  Q17. What do you consider your hobbies? Ans. I like dancing and painting in my free time. Also, I enjoy listening to jazz music. Thank you for asking.  Q18. Would you lie for the organization? Ans. It actually depends on the situation. If the lie benefits the company, like helping in research, etc. I might consider lying in that situation.  Note: You need to take a diplomatic approach in answering questions like this.  Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. Q19. Are you applying to other organizations? Ans. Yes, I have applied to a few other roles as I am currently looking for a job in the XYZ field.  Note: Give them a realistic answer so that they give you a competitive offer.  Q20. Describe yourself in a word. Ans. I would describe myself as hardworking/ dedicated/ passionate in a word. Note: These questions check how spontaneous you are. You should know how to describe yourself in the best way before you sit for an interview.  Q21. Do you believe in smart work or hard work? Ans. While hard work is essential, in a dynamic organization, you must engage in smart work and get things done correctly and within the stipulated time. Smart work is not a shortcut but an extension of hard work.  Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} Q22. Are you overqualified for this role? Ans. I am looking for a role that gives me a huge learning opportunity, and this role seems like one. Qualifications are nothing without practical knowledge, and the role will expose me to the practicality of things.  Q23. What do you consider your weakness? Ans. I have some weaknesses, but I am a team player, and someone else’s strengths compensate for my weakness. However, I am trying to address it on a personal level too. Q24. How well do you handle the pressure? Ans. Giving in to pressure is not what I aim for, hence keeping calm and making a mental list of tasks to slowly but steadily work through them is my usual approach. If things get out of hand, I ensure to seek help from my colleagues.  Read Our Popular Articles Related to MBA Financial Analyst Salary – Freshers and Experienced Top Interview Questions and Answers for HR MBA Marketing Career Options in US Best Career Options In USA After MBA In Human Resource Top 7 Career Options in Sales Highest Paying Finance Jobs in the US: Average to Highest Top 7 Career Options in Finance in the USA : Must Read Top 5 Marketing Trends MBA Salary in USA [All Specializations] .wpdt-tc-F44336 { color: #F44336 !important;} Q25. How do you handle failures? Ans. I respond to them quite calmly. I give myself some time, try to absorb the situation, and return to the grind again.  Q26. What is the most difficult decision you have ever made? Ans. After graduation, I had to choose between working or pursuing higher studies. But then I decided to take up a job as it would give me a practical understanding of things, and I will be able to apply my learnings better.  Conclusion Before appearing for your HR round, you must be aware of the type of questions generally asked in these rounds. If you want more things to discuss in your HR interview, you can apply for the Masters of Business Administration course at Golden Gate University and expand your horizon. The university offers a well-curated course for all the working professionals out there. The 15-month program will give you exposure to a well-curated course, helping you bag exciting career opportunities.
Read More

by upGrad

15 Mar 2023

Top 10 MBA Books to Read to Improve your skills in 2024
8067
A Master in Business Administration (MBA) is one of the most coveted degrees today. While not a prerequisite for success, having an MBA degree can definitely aid in catapulting your career in the job market. An MBA graduate is a much sought-after asset for all businesses and sectors. According to the U.S. Bureau of Labor Statistics, jobs in the management sector are expected to grow 8% between 2021 and 2031. It is a faster-than-average growth rate compared to other industries. With an average median annual salary of $102,450, as of 2021- it is the highest among the major occupational groups in the U.S.!  So if you want to ride this wave of demand, you should equip yourself with the pearls of wisdom that management pundits and gurus swear by. Do you want to know how? The simple answer is- MBA books– the treasure trove of A to Z information on skill development. By identifying and reading the right books, you can teach yourself the skills cherished by the masters and how to nurture them.  This article will help you do just that by curating a list of the top ten MBA books to read today to improve your skills and zoom your career into the fast track.  Top 10 MBA Books to Read to Improve your Skills 1. Outliers: The Story of Success by Malcolm Gladwell Delving into the success stories of the ‘outliers’- high-achievers who have surpassed the standard understanding of achievement- Malcolm Gladwell opens up the conversation regarding the role played by hidden and often unacknowledged factors behind their success stories. From the Beatles to Bill Gates and Oppenheimer, the author uses case studies to highlight that the circumstances of birth, social position, and cultural legacies contribute significantly to individual excellence. Additionally, the narratives of success are peppered with the role of the golden ‘10000-Hour Rule’ of practice. Read this book to understand what separates the ‘outliers’ from others and makes them tick.  2. How to Win Friends and Influence People by Dale Carnegie This classic book, first published in 1936, has stood the test of time and how! The book is about exactly what the title states: how to win friends and influence people- and much more. This seminal book on self-help adorns the bookshelves and reading lists of some of the most influential people today. With principles and actionable tips presented in easily digestible language, this book epitomizes the value that human behavior and action are central in developing and nurturing interpersonal relationships to reach heights of success. This book is a treasure trove for those seeking to revamp their people skills. 3. Influence: The Psychology of Persuasion by Robert Cialdini Why do people say ‘yes’? What influences people to action? In this path-breaking book, Cialdini gives us a revolutionary insight into the world of compliance practitioners- salespeople, marketers, and recruiters- to answer these very questions. Backed by three years of intensive study into the lives of compliance practitioners, the authors outline six crucial and universal psychological principles of persuasion: reciprocity, commitment and consistency, social proof, authority, liking, and scarcity. Want to learn how to get a ‘yes’ every time? Look no further than this book.  4. The Personal MBA by Josh Kaufman Do you want to learn about the fundamental of business from scratch without shelling out a fortune in the process? Look no further than this starter book. Kaufman will take you on a journey of how companies work and their five core processes: value creation, marketing, sales, value delivery, and finance. This information-rich MBA book will teach you how to optimize each business process to maximize results and build a successful business.  5. Zero to One by Peter Thiel Authored by an American entrepreneurial great and the co-founder of PayPal, Blake Master, this book is a goldmine of information for budding entrepreneurs. The author takes a deep dive into the philosophy, skills, and actions to go from zero to one. Bringing something new into existence is at the core of any successful start-up, and the book guides you through this process. The book is an essential read for entrepreneurs and business leaders to develop skillsets for meteoric success. 6. 7 Habits of Highly Effective People by Stephen R. Covey This influential self-help book by Covey is a trailblazer. With a focus on building one’s core fundamental character or ‘character ethic,’ the author takes you on a journey to move from a state of dependence to independence and finally to interdependence. This journey of personal development, he believes, can be achieved through seven lifelong habits. The book lucidly presents what you can do to improve within so that it reflects through your success in the world.   Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. 7. Thinking, Fast and Slow by Daniel Kahneman Nobel Laureate Daniel Kahneman’s groundbreaking work combines cognitive psychology and behavioral economics to help readers understand how people think and make decisions. The author identifies the “two systems” that constitute the cognitive system. While System 1 is responsible for thinking fast, System 2 is responsible for thinking slow. The book illustrates how cognitive biases, illusions, and errors emerge from intuitive thinking. This book is a must-have to understand human cognition, polish your decision-making process, and remove the biases and mistakes that can obstruct your path to success.  8. The Daily Drucker by Peter Drucker What if you could have a revered management guru as a mentor every day for a whole year? The Daily Drucker can make this dream come true under the guidance of management pundit Peter Drucker. Guiding you with 366 days of lessons, advice, and inspiration, this day-to-day companion is a culmination of a lifetime of experience. Seamlessly moving across the fields of management, business, entrepreneurship, changing society, and many more, this book can help you face and overcome challenges and develop essential skills along the way.  9. Grit: The Power of Passion and Perseverance by Angela Duckworth What separates successful people from the not-so-successful? According to renowned psychologist Angela Duckworth, the most important ingredient is “grit.” Drawing on research and anecdotes, the author concludes that passion and perseverance are at the core of success. The book not only helps you with a self-assessment of how much grit you have, but it also tells you how you can develop grit. It is an excellent book to add to your list to build new skills and improve on old ones.  Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} 10. The Lean Start-Up by Eric Ries With the buzz around start-ups, Eric Ries’ book is a timely intervention in building an effective and viable business. Akin to the Holy Bible of start-up founders and entrepreneurs, the book is a detailed guide to creating an efficient business and launching successful products. Ries develops a well-thought-out scientific methodology to establish and manage innovative start-ups. If you want to develop entrepreneurial thinking and management skills, this book is definitely for you. Read Our Popular Articles Related to MBA Financial Analyst Salary – Freshers and Experienced Top Interview Questions and Answers for HR MBA Marketing Career Options in US Best Career Options In USA After MBA In Human Resource Top 7 Career Options in Sales Highest Paying Finance Jobs in the US: Average to Highest Top 7 Career Options in Finance in the USA : Must Read Top 5 Marketing Trends MBA Salary in USA [All Specializations] .wpdt-tc-F44336 { color: #F44336 !important;} Final Word Today, knowledge has become easily accessible, and information is abundant. In this information-rich age, it can be challenging to sieve and decide what to add to the reading list. There are thousands of MBA books available in the market, and only so much time is available to read them. To make the process easier, we have handpicked a list of the ten best MBA books to read to improve your skills! These select books will help you identify and nurture skills that will put you miles ahead of your competition and equip you with knowledge from the top global minds in the field. If you want more after going through the best MBA books we have listed for you, we have a fantastic course for you! Boost your Management Career with upGrad Explore the Master of Business Administration course offered by the prestigious Golden Gate University, San Francisco, on upGrad. The 15-month course is ideal for working professionals who want to learn from the best! With interactive live sessions with faculty and Silicon Valley professionals and peer-to-peer interaction, the course is an excellent opportunity to combine learning with networking. The course also offers the opportunity to opt for an on-campus immersion in San Francisco, USA. The possibility of being part of a legacy over 120 years old is now at your fingertips! Enroll for the course today, and you can be one of 5000 fortunate students with a generous scholarship! 
Read More

by upGrad

15 Mar 2023

Finance Manager Job Description Explained – Roles and Responsibilities
5677
There are several job titles within finance, each with its own set of responsibilities, skills, and abilities. In essence, all finance jobs involve analyzing data, making sense of numbers, and reporting on financial performance. However, the precise scope of responsibilities varies depending on the individual role. The role of a finance manager is one such specific role that is highly sought after in today’s day and age. A finance manager is in charge of overseeing a company’s financial operations from start to finish. To be successful in this role and achieve desired results, you must have excellent time management skills and the ability to delegate effectively.  Read below for more details about what it takes to become a finance manager and what kind of responsibilities you can expect as a finance manager at your company. What is a Finance Manager’s day-to-day responsibility? According to the finance manager job description, you will be in charge of managing the entire finance function. Your day-to-day responsibilities will include managing the company’s cash flow, reviewing the company’s spending, and forecasting future financial performance.  You will be responsible for developing processes and procedures for managing and protecting the company’s financial resources and overseeing the company’s investments and related financing activities. You will also manage the company’s relationship with its bankers, auditors, investors, and financial advisors. Additionally, a finance manager is also expected to hone proficiency in creating reports based on the data gathered and be able to interpret financial information to help senior management make decisions. Key Responsibilities of a Finance Manager Some of the key responsibilities that come with financial manager roles include:  – Manage the company’s cash flow: This includes forecasting cash flows, managing accounts payable and receivables, and ensuring liquidity and sufficient credit lines.  – Review the company’s spending: You will need to review the company’s budgets and forecasts and all expenses to ensure no unnecessary spending takes place.  – Forecast future financial performance: You will need to analyze past performance to help forecast future performance and make decisions based on those forecasts.  – Manage the company’s relationship with its banker, auditors, investors, and financial advisors: You will need to keep all parties informed of the company’s financial progress and respond to any questions or concerns they may have.  Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. – Create reports based on financial information: Based on your findings about the financial state of your organization, you will have to create elaborate and descriptive reports to communicate your findings to other stakeholders and management people.   – Interpret financial information: You will need to be able to interpret financial information and provide advice and recommendations based on that information. Core Tasks of a Finance Manager Here are some of the core tasks you’ll be performing on a day-to-day basis when it following the finance manager job description. – Managing budgets – You will need to closely monitor and manage the company’s budgets to make sure they are realistic and achievable.  – Managing accounts payable and receivables – Finance managers need to closely monitor accounts payable to ensure timely payment and monitor accounts receivable to collect money owed to the company as soon as possible.  – Ensuring liquidity and sufficient credit lines – You will have to forecast cash flows and use that information to ensure there is enough cash on hand and that the company maintains a healthy credit line at all times.  – Creating reports based on financial information – Analyze and create reports showing senior management the company’s financial health and business strategies. – Understanding and communicating financial information – A finance manager should be able to interpret financial information and provide advice and recommendations based on that information. As a manager, you will also be required to communicate this financial information to the general population of your organization in an easy-to-understand manner.  Key Skills for Becoming a Finance Manager Here are some of the essential skills you’ll need to not only become a finance manager but also to succeed in the career:  – Excellent time management skills – A finance manager must be self-disciplined to prioritize tasks and keep themselves on a strict schedule that allows them to complete all tasks within a set timeframe.  – Strong attention to detail – Finance managers must be responsible for reviewing and analyzing financial data in order to pay careful attention to details and notice any unusual activity.  – Extensive knowledge of accounting principles – Since your day-to-day work will be around managing finances and accounts, you will be required to have a solid foundation of accounting principles and underlying concepts. That way, you will not struggle daily to catch hold of the basics.  Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} – Fluent financial reporting skills- Knowledge of working on financial reports is one of the key skills a financial professional must possess. Finance reports demand utmost accuracy and relevance, so a finance aspirant must hone this skill.  – Deep knowledge of financial planning and investment strategies – As a financial manager, your grasp of fundamental and advanced financial planning concepts must be strong enough to support the entire organization’s finance structure. The role of a manager demands you to recommend strategies to fuel financial growth, and it is only possible with in-depth knowledge of finances and investment.  Job opportunities for finance managers With financial manager responsibilities, you can expect to earn a high salary and have plenty of job opportunities. According to the BLS, the finance manager field is expected to grow by 4% between 2018 and 2028. You can expect to earn a median salary of $127,000 (or $62.50 per hour) and an average bonus of $33,000. The exact job prospects in the field of finance management will always vary, depending on the domain of your work and the location you operate from, among other things.  Read Our Popular Articles Related to MBA Financial Analyst Salary – Freshers and Experienced Top Interview Questions and Answers for HR MBA Marketing Career Options in US Best Career Options In USA After MBA In Human Resource Top 7 Career Options in Sales Highest Paying Finance Jobs in the US: Average to Highest Top 7 Career Options in Finance in the USA : Must Read Top 5 Marketing Trends MBA Salary in USA [All Specializations] .wpdt-tc-F44336 { color: #F44336 !important;} Conclusion A finance manager’s role is crucial to any organization’s growth and consistency. As a finance manager, you will manage the entire finance function, demanding the right balance between managing the company’s relationship with its stakeholders and working on its investment strategies for financial growth. As the market continues to grow and seek talented candidates, you must inherit the right set of skills and experience to make it through the hiring process.  Financial manager responsibilities and skills are easy to acquire if you know the right resources and have the correct mentors by your side. Our Advanced General Management Programme, in association with IMT Ghaziabad, aims to bring real-world skills and knowledge to management aspirants from industry and academia experts. This 11-month course is perfect for sales and marketing executives, managers and entrepreneurs, IT professionals, and more. Get yourself registered soon, and experience the upGrad advantage! 
Read More

by upGrad

15 Mar 2023

Top Business Management Books to Read in 2024
5535
If you’re planning to step up your management studies game this year, you’ve come to the right place. The business world is continuously changing, with new trends constantly popping up to offer a fresh take on traditional ways. Considering the evolving trends, those who want to keep pace with these changes must stay informed at all times — especially when it comes to management.  Business management books remain one of the most reliable sources for learning new things about managing a company. New business management books are published daily with various topics and themes to grant you fresh insights on in-demand subjects. Whether you’re interested in knowing more about leadership, marketing, finance, HR, or strategy, there is a book for everyone! This article will look at some of the best books on management and leadership that will prove helpful in 2024. Here is a breakdown of some of the best business management books to read in 2024, segmented based on different business management domains.  Books For Improving Leader Skills Having strong leadership skills is crucial for any manager. It helps in creating a solid company culture that is centered around the idea of collaboration and teamwork. Leadership skills are also essential for motivating your employees, which is crucial for engaging them and getting the best out of them. If you’re interested in improving your leadership skills, here are some of the best business management books you should read.  – The Advantage – This business management book is perfect for those interested in building a competitive company culture. It offers advice on motivating employees, communicating with them, and handling their feedback. It works as an effective manual that is perfect for managers who are just starting.  – The Culture Code – This is another excellent book for managers who want to create a strong company culture. It offers advice on building a sense of community in your company and getting employees to work together and feel appreciated.  – The Effective Executive – This book is perfect for those who want to develop personal efficiency. In this business management book, the author discusses creating a system for managing your time and staying organized. It’s a beneficial blueprint for those who want to improve their productivity. Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} Books For Building A Solid Company Culture A strong company culture is one of the most important aspects of a successful business. It directly impacts the behavior of employees and their overall productivity. If you want to build a strong company culture, here are some of the best business management and leadership books you should read.  – Good to Great – This business management book offers advice on transitioning from a good company culture to a great one. It’s a very helpful guide for managers who are new to the idea of creating a strong company culture.  – People, Inc. – This book dives deeper into the philosophy of people management. It offers practical advice and tips on how to engage employees, create open communication, and hold regular one-on-one meetings.  – Profit First – This is a great book for those who want to implement a zero-sum budgeting policy at their company. It’s a competent manual that can help you better understand how to prioritize your company’s expenses. Books For Developing Employees Another important aspect of business management is the development of your employees. A successful business is one that focuses on creating an engaged workforce that is motivated to do their best. Therefore, managers must understand how to properly develop their employees. If you want to improve your employees, here are some of the best business management books you should read.  – First Break All the Rules – This business management book offers advice on bringing out the best in your employees by breaking traditional management rules. It’s a very helpful guide for managers who want to bring out the best in their team but don’t know where to start.  – Built to Last – This is another exceptional guide for managers who want to develop their employees better. It offers advice on building a company that lasts by creating a culture focused on core values.  Books For Establishing Company Strategy A successful business is well-rounded and has a strong strategy. This strategy explains the company’s purpose, what it aims to achieve, and its place in the industry. If you want to establish a strong strategy for your company, here are some of the best business management books you should read.  Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} – Blue Ocean Strategy – This is a great book for those who want to establish a strategy for emerging markets. It offers advice on creating a sustainable business focused on offering something different than your competitor.  – What Makes You Tick – This business management book is perfect for managers who want to create a strategy based on the unique strengths of their company. It offers advice on discovering your strengths and using them to create a strong strategy.  – Who Moved My Cheese? – This slightly easy-to-read book is perfect for budding entrepreneurs seeking advice on preparing for change by creating a flexible strategy to adapt to new circumstances. Books For Understanding Marketing Strategies Marketing is one of the most important aspects of running a successful business. It’s the bridge between your company and your customers. A strong marketing strategy allows you to reach out to your customers and explain why they need your product or service. If you want to understand marketing strategies better, here are some of the best business management books you should read.  – The 22 Immutable Laws of Marketing – This is a must-read for those who want to understand marketing better and learn how to apply it to their business. It offers advice and examples on applying marketing strategies to your company and attracting more customers.  Read Our Popular Articles Related to MBA Financial Analyst Salary – Freshers and Experienced Top Interview Questions and Answers for HR MBA Marketing Career Options in US Best Career Options In USA After MBA In Human Resource Top 7 Career Options in Sales Highest Paying Finance Jobs in the US: Average to Highest Top 7 Career Options in Finance in the USA : Must Read Top 5 Marketing Trends MBA Salary in USA [All Specializations] .wpdt-tc-F44336 { color: #F44336 !important;} – Who Says You Can’t Teach an Old Dog New Tricks? – This book delves deeper into the philosophy of marketing and makes readers understand how new tactics can be applied to old strategies to make marketing much more effective. Read this book to learn how to revamp your age-old marketing strategies into something fresh and unique!   – The Long Tail – This is another excellent book for those who want to understand marketing strategies better. It offers advice on how to get more value out of the long-tail strategy. Final Words There’s no doubt that the business world will be different in 2024. Many trends are expected to impact business, such as the rise of AI, more focus on mental health awareness, and the rise of digital marketing. If you want to stay informed and prepared, you can use this information to select the best books on management and leadership for your needs. Apart from that, you can also look for some hands-on business management courses to get a better glimpse of what goes on in the business world and potential changes in the future. At upGrad, we understand how dynamic the business world is and impart knowledge to keep up with all the advancements. Our MBA course, offered in collaboration with Liverpool Business School, is an 18-months course that offers you six in-demand specializations to choose from. Check out the course page and get yourself enrolled to master your business management skills! 
Read More

by upGrad

14 Mar 2023

10 Best Business Management Tools to Use in 2022
5293
Handling multiple functions of a business can get quite challenging and complicated. Hence, it is important to have a system to help you manage the business effectively. You must have suitable business management software to help you with the same.  As a manager, you must identify and address diverse business needs to grow your business. You need to use tools to help you trace the problems and solve them. There are hundreds of BPM tools out there. However, you need to pick one that meets your company’s requirements.  We have crafted a list of business management tools that are handy for most businesses. You can run a pilot and decide which one of these complements your work process the best. Let’s look at some of the best BPM software and tools. Top Business Management Tools 1. BambooHR Every business needs to onboard resources who can help in running the business. Hence, they need business recruitment software to aid them with the process. BambooHR is one such BPM software designed for business recruitment. It can help your human resource department in becoming more efficient and effective. It is a tool that can help you find individuals highly suited for a particular role. The tool is also a great employee profile management tool.  The tool has several in-built performance metrics that you can use to track the performance of your employees. These metrics can come in handy while taking reviews or measuring their performance against their peers. Primarily, the tool is used while onboarding an employee. You can also use the tool to complete the final formalities for an employee leaving the organization.  The tool is centralized, and all the members of the HR department can access the tool for different functions. You can also create dashboards for the efficient management of your team. Additionally, the tool allows you to set up a mechanism where the employees can apply for any leaves and check their benefits using the tool. 2. nTask nTask is a project management BPM software with many features to help you manage a complete project with just one tool. The tool has several native modules that give different ways of approaching the project and solving the problem. You can use the tool to create a plan and track if the progress aligns with the plan. The tool also enables you to collaborate with other teams and get their input on the project. It is a business management software that gives you an overview of everything happening on the project. It also gives you a picture of what the future of the project looks like. The best thing about the tool is it represents data visually with the help of Gantt charts, etc.  Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. 3. FreshBooks If you are looking for any BPM tools to help you with financial management, FreshBooks is the right pick. It provides businesses with holistic accounting solutions. It is an ideal tool for small businesses that do not have the budget to onboard a dedicated resource for finance. The tool offers a complete solution to financial management. It has hundreds of new-age accounting features, and you can use them to create invoices and track all your business expenses.  The tool also helps improve your team’s efficiency as you can track the number of hours your employees spend on a particular task. You can also use FreshBooks to manage a few projects and create dashboards to track project metrics. 4. Slack Slack is one of the most popular business management software available for businesses. From start-ups to global organizations, every company uses Slack. It is a team communication software where you can put every information about a project or your day-to-day work. Slack is an effective collaboration tool that enables teams to share critical files and schedule meetings. You can also use it as a team messaging app to exchange important messages with your teammates throughout the day. However, Slack is not just limited to team communications. This BPM software can manage your project as it supports third-party application integrations.  Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} 5. Gmail Gmail is undoubtedly one of the best tools to connect, collaborate and perform business activities. The best thing about Gmail is it is so easy to use that people who don’t have a technical background can also use it quite effectively. It is one of the most widely used BPM tools to share e-mails, etc. The tool also includes add-ons like Google Hangouts, G-meet, etc., which enables you to stay connected with your team.  Gmail has several features that are free of cost. You can create labels and segregate your e-mails based on the topics, issues, etc. Another important feature of the tool is spam filtering. Hence, you get to access e-mails that are relevant to your business. Gmail also comes with language support, where you can change the tool’s language based on the business’s location. 6. Intercom If your business involves frequent customer interactions where you solve their queries and address their issues, you need customer support BPM software like Intercom. Intercom is one of the best BPM tools, as it helps you run your business smoothly. The tool uses artificial intelligence to serve customers better. It also collects user insights to understand your business and your clients better.  Read Our Popular Articles Related to MBA Financial Analyst Salary – Freshers and Experienced Top Interview Questions and Answers for HR MBA Marketing Career Options in US Best Career Options In USA After MBA In Human Resource Top 7 Career Options in Sales Highest Paying Finance Jobs in the US: Average to Highest Top 7 Career Options in Finance in the USA : Must Read Top 5 Marketing Trends MBA Salary in USA [All Specializations] .wpdt-tc-F44336 { color: #F44336 !important;} The tool is the best way to automate your interactions with all your customers. Hence, when you start using the tool, you can eliminate all types of human involvement from the process. The tool enables you to create different consumer cohorts and serve them based on their interests and personalities. You can use the tool to track all your customer queries and solve them systematically. The tool also offers features like live chat, etc., that can help engage with the audience. 7. Bitrix24 CRM software has become vital to manage your clients and tasks better. Bitrix24 is one such business management software that provides CRM services. However, you can also use the tool for other purposes, like managing documents, interacting with your team, etc. It is one of the best tools for keeping a tab on your tasks. This unified platform is the best tool to manage your clients and bring in some automation in the marketing function of your business. The free version of the tool is well-suited for small and mid-sized organizations. However, if you want to access additional customer management tools, you must opt for the paid version. The tool helps you manage all your leads and view all the sales reports. You can also use Bitrix24 to manage all of your business-related tasks. 8. Google Analytics All new-age businesses making use of digital marketing must have access to Google Analytics. It is BPM software that allows you to track your campaign. When you create a website for your business, you need to know the number of people who visit it and the activities they perform on the website. Here’s where Google Analytics comes into the picture. It helps you keep a tab on the website traffic and its performance. You can also use the tool to check the performance of any campaign you are currently running. These snapshots give the window to make corrections to the campaign and the website in real time.  9. PaperTracer Businesses want to control the information that comes from the company. Hence, managing all the company-related documents is very important. You need business management software to help you manage your documents, as they are the only source of valid information that floats within the company. The tool should not just manage all the documents but should also be quite secure.  PaperTracer is one of the best document management tools available for businesses. The tool has many features so you can access any document when needed. The tool also keeps your file safe from other external parties. It uses Optical Character Recognition to open the required files. You can also use the tool to track any changes to the documents stored within the tool. 10. Dropbox Every business has thousands of files, and storing these files is beyond the capability of a regular hard disk. Therefore, business management software that helps you store all the files and important documents is vital. Dropbox is one such tool that can serve all of your storage requirements. Not only does Dropbox provide businesses with ample space to store files but also safely stores files.  Dropbox is a cloud storage platform that is also available on mobile phones. The tool is easy to set up and can create a central location for all your business documents. You can share files within your company using Dropbox. Also, it allows you to integrate the files with other online tools. Conclusion Implementing business management tools in your business can lead to better results within limited resources. While several activities are to be done manually, you can automate many of them with the help of different business management software. These tools will take the additional burden off your shoulders and help you manage the business’s operations without hassle.  The MBA (Global) | Deakin Business School program by upGrad will give an in-depth insight into these tools. You will also understand how these tools work and how you can use them to manage your business effectively. Sign up for the course today!
Read More

by upGrad

14 Mar 2023

An Introduction to Principles of Management: What you need to know?
5349
Businesses exist for multiple reasons. Earning a profit is the most prominent reason out of all. Different principles of management are designed to ensure the company consistently generates profit and remains up and running forever.  During the earlier times, several businesses used to get shut now and then because of ill-management practices. That’s when Henry Fayol and F.W. Taylor formulated the 14 principles of management. These principles are still perceived as the driving force of different businesses, helping them secure good profits while keeping their employees happy and satisfied.  This guide will help you understand scientific management principles and why small and large organizations are still using them. 14 Important Principles of Management  F.W. Taylor came up with 14 principles of scientific management to focus on the scientific way of managing businesses. Earlier, other scientists developed a few methods to manage companies. Still, Taylor disregarded them as he believed laborers and managers take up the core business responsibility.  These principles of management are quite crucial as they touch upon all the primary functions of management, like planning, organizing, controlling, etc. Let’s have a look at the 14 principles of management and understand them in detail. 1. Division of Work  Division of work is one of the most critical principles of management. The principle works on the concept that if you assign a worker with any specialized task, they will gain expertise by doing so and become much more efficient than the other workers. Hence, you should entrust the workers with limited duties and not fill their plates with everything. Therefore, creating a system where every employee has a specialized role is much more effective. Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. 2. Authority and Responsibility  Managerial authority is important if you want a task to be carried out efficiently. Hence, you need to create a proper chain of command and give the managers authority to control the workforce responsible for carrying out different tasks. If proper authority is not given to the managers, they will not be able to carry out their responsibilities well. Therefore, giving them authority and responsibilities to get the work done can actively contribute to the work environment. A company should try to create a perfect balance between authority and responsibility. 3. Discipline  Discipline is one of the 14 principles of management that is highly relevant in all organizations. You must ensure discipline to run your business smoothly while complying with timelines. Discipline should prevail in the entire organization, be it managers, employees, or other stakeholders interacting with the company regularly.  To ensure discipline, every company should have rules and guidelines to reinstate how employees should behave and treat other employees. Also, you must ensure that the organizational regulations are followed by everyone who is a part of the organization. You can achieve this only if you have good control over the employees. Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} 4. Unity of Command  Unity of Command is one of the principles of scientific management that talks about having a clear line of command. It talks about owning a regulated reporting structure in the company. Employees should know their immediate supervisor and the chain of command they need to follow. A company should ensure that all the employees report to a single manager.  There is a lot of ambiguity if an employee has two or more managers. Also, it can give rise to misunderstandings and create a lot of confusion within the company. 5. Unity of Direction  Every company should work toward one direction, and all employees must be aware of this direction. Every employee’s contribution to the organization should take the company in a pre-decided order. A unity of direction translates to a single plan and the supervision of a single manager for every employee.  For instance, if the company’s agenda is to promote its products via marketing, there should be a single plan to carry out all these activities. While you can break down the project into different components and assign them to sub-managers, they should all work in a unified direction. 6. Subordination of Individual Interests to Collective Interests The company’s goals should supersede your personal goals. It is one of the principles of management that states that the company is over everything as it is working to serve the customers. A good manager will create goals for the company that ensure the employee’s personal goals are also fulfilled.  Hence, every company should ensure that the individual objectives of the employees are not sabotaging the company’s more significant and overall objectives; if individual goals overpower, the company is destined to fall. Read Our Popular Articles Related to MBA Financial Analyst Salary – Freshers and Experienced Top Interview Questions and Answers for HR MBA Marketing Career Options in US Best Career Options In USA After MBA In Human Resource Top 7 Career Options in Sales Highest Paying Finance Jobs in the US: Average to Highest Top 7 Career Options in Finance in the USA : Must Read Top 5 Marketing Trends MBA Salary in USA [All Specializations] .wpdt-tc-F44336 { color: #F44336 !important;} 7. Remuneration  All employees work in exchange for some remuneration. However, the employees will not give their best if they are not fairly remunerated for their services. As a company, you must pay at least an amount equal to the minimum wage decided by the law. A company can decide the additional pay for a candidate based on their contribution to the company’s objectives. If a company underpays its employees, it will not be able to keep them motivated or retain them, as it will start looking out for better opportunities in other organizations. The remuneration structure should include monetary and non-monetary components so that the employees stay motivated and give their cent percent to their work. Also, you should devise a system to reward the employees for their excellent performance. 8. Centralization Centralization is one of the most vital principles of scientific management as it talks about who should control the company. According to Fayol, the power of managing the company should be vested in a few hands. If you delegate the authority to everyone, there will be a lot of confusion in the company. Also, the chances of misusing the power of the employees will increase.  Hence, there should be a fair balance between centralization and decentralization of power so the company can be managed effectively. The degree of balance differs from company to company. You can follow a tier system to decide the proportion of power the employees of that tier should have. 9. Scalar Chain  A scalar chain is a distinct line of communication between subordinates and superiors. Employees should know their position within the organizational structure and whom to contact in an emergency. Fayol proposes that an organizational chart be created so workers can readily perceive this structure to apply this in the company. A chart will establish a clear line of communication and how the employees must reach out to people at different levels of management if an issue needs immediate attention. 10. Order The order of manpower, resources, etc., plays a significant role in running a company. Everything should be found at the right place at the right time. They can only be utilized to their full potential if the resources are placed correctly. If any of the resources are in the wrong place, they can be mishandled or misused by the employees for personal use. Therefore, you should devise a structure for deploying several resources and stick to it religiously. 11. Equity Equity is considered one of the critical principles of scientific management, as having equity in any organization supersedes any other requirements. All managers should treat all their subordinates equally and display ethical behavior towards everyone in the organization.  Equity has two elements: kindness and justice. Hence, every employee in the organization should be kind and just towards all their co-employees and subordinates. This creates a healthy atmosphere within the company. 12. Stability of Tenure of Personnel Minimizing staff turnover is a priority for all businesses. A company can only do so by keeping its employees satisfied and happy. According to this important management principle, organizations should reduce the number of people who leave the company and try to maximize their output. When a company onboards a new employee, they should be given a few days to adjust to the system, understand everything better, and become quite efficient. Job security is crucial for every employee; they will give their best when they feel their job is safe. Also, when you fire employees, you will have to waste time and resources to train them. 14. Initiative  This principle suggests that initiative should be promoted among all employees. Employees feel driven and valued when they have a say in how they can do their duties. Employers should pay attention to employee complaints and support the creation and implementation of improvement programs. Conclusion The principles of management are the driving forces behind any company. Hence, it is important to understand and implement them in your organization to maximize its potential. The best thing about the 14 principles of management is they not only focus on making profits but also highlight how the employees should be treated and how work should be assigned within an organization. If you want to understand these principles better, you can take up the Master of Business Administration Course on upGrad. Offered by San Francisco’s leading institute, the Golden Gate University, this course is designed for fresh graduates and working professionals to upskill themselves with management concepts. 
Read More

by upGrad

14 Mar 2023

Top 10 Management Books to Read to Improve your Knowledge
5410
Management is one field requiring an in-depth practical understanding and knowledge of the business world. You’ll find management every step of your way, whether in student life or professional life. Management forms the foundation of this world as each field requires proper organization and management of various elements involved.  Components like planning, organization, and execution of ideas within a team come together to build smooth management. Working in a leading position within management is not a simple task, considering the diverse roles and responsibilities you’ll be shouldering. If you’re someone hoping to grasp the best of management fundamentals, here are some of the best management books to help you understand the different components of management most engagingly.  Best Management Books to Read  1. The One Minute Manager by Kenneth Blanchard and Spencer Johnson  As the name suggests, this book is a small guide to management, preparing you to become an inspirational leader. The book discusses simple tools that anyone can utilize for workplace management. It consists of three goals you can set that take less than 60 seconds. These tools increase productivity and transform the management system to become more efficient. This self-help book is a must-read as it comprehensively shares some of the easiest ways to implement management theories into actionable insights, making it one of the best management books. 2. On Becoming a Leader by Warren Bennis Besides being one of the fundamental books released in the 1930s and 40s era, the book continues to be a guiding figure for management entities. It represents the relationship between economic hardships and leadership. It beautifully showcases how you can drive your followers with your excellent leadership qualities, even in times of crisis. It underlies the facets of management from the eyes of the leader. This strategic management book has a new edition that extends the limits of concern for the modern world.  3. Turn the Ship Around by L. David Marquet Turn the ship around is a book based on the true story of Captain David Marquet, a man that successfully changed the USS Santa Fe within a year. This book believes in the concept of “leader-leader” instead of “leader-follower”, meaning that everyone should be a leader in any team or organization. This uncovers the concealed potential of many people working around us. It chronologically represents the ideation of leadership that starts with his struggles, followed by the emergence of leadership. This book is a must-read for anyone who wants to bring their hidden potential upfront.  Learn MBA Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. 4. How to Win Friends and Influence People by Dale Carnegie This book highlights the treasure that lies in people. It is all about finding people around you who can be great companions and contributing to the teamwork. This management book is perfect for today’s world because of the rise in conflicts among people. Making good connections and being a little less argumentative are essential traits in any workspace. Moreover, it also teaches you to become a good leader without sounding too affirmative. Give this book a read to develop a congenial atmosphere in your workspace.  5. The Art of War by Sun Tzu This book deals with all the obstacles that might come along the way while managing your company. It is a perfect book that shows you how to behave whenever you encounter something unusual. It talks about modifying situations based on circumstances. It develops the managerial content throughout the book and highlights ways to be good at it. It is a perfect book for those who want to gain control over their minds and tackle the situation confidently.  6. The 7 Habits of Highly Effective People by Stephen R. Covey This book is one of the best management books as it explains the concept of perception. The way we perceive a problem could be problematic because it is all about perception. In order to gain the correct understanding, we should change our fundamental attitudes and behaviors by following seven habits. These Habits are illustrated as follows— habits 1, 2, and 3 deal with self-mastery and independency; habits 4, 5, and 6 deal with teamwork, collaboration, and communication. And lastly, habit 7 focuses on growth and improvement. This book is a must-read for anyone who wants to conquer management skills, not just at work but personally as well.  7. Straight From the Gut by Jack Welch This book is based on the career of Jack Welch, who had some struggles in the early stages of his life. This book shares the author’s perspective on becoming a great leader in the modern era. He shares some of his experiences with the readers to help them understand by portraying real-life struggles. It highlights people’s creativity, originality, and common sense while sharing their thoughts.  8. Competitive Advantage by Michael E. Porter Michael E. Porter highlights the international competitiveness that has changed national policy worldwide. This leads to a change in thinking and actions in a company. This book is all about competitiveness and its impact on the surroundings. It represents the connection among firms, suppliers, institutions, and related industries. This book is perfect in an era of continuously rising competition.  Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} 9. Reengineering the Corporation Michael Hammer and James A. Champy This book illustrated the structuring of companies created in the nineteenth century and entered the twenty-first century. Therefore, it requires “reengineering” processes, organizations, and cultures designed with the old mindset. It is an interesting read for readers as it compares previous organizations to modern world organizations. This book aims to improve performance by continuously enhancing strategies. It is a perfect strategic management book for those who want to understand the differences between previous and current policies.  Read Our Popular Articles Related to MBA Financial Analyst Salary – Freshers and Experienced Top Interview Questions and Answers for HR MBA Marketing Career Options in US Best Career Options In USA After MBA In Human Resource Top 7 Career Options in Sales Highest Paying Finance Jobs in the US: Average to Highest Top 7 Career Options in Finance in the USA : Must Read Top 5 Marketing Trends MBA Salary in USA [All Specializations] .wpdt-tc-F44336 { color: #F44336 !important;} 10. In Search of Excellence by Thomas Peters and Robert H. Waterman Analyzing over 40 leading American companies, this book shares a piece of winning management strategies they implemented to attain success. It mainly focuses on customer-centric approaches for organizations and employees in innovative ways to build successful businesses.  This book doesn’t need any previous management knowledge and is comprehensive for everyone who aims to gain insight into winning principles that are applied by leading American organizations.  Kickstart your Management Career with upGrad Wish to hop into the dynamic world of management? upGrad presents you with a Global MBA course offered by Australia’s top B-school, the Deakin Business School. The course includes all the necessary components under MBA, along with the diverse student perks from upGrad. It provides students with 1:1 mentorship from industry leaders, an advanced general management program, live sessions with global experts, 24 hours support for queries, and many other elements.  Conclusion Management careers uphold their reputation as multifaceted roles, which demand candidates to obtain assimilation of diverse skills. These books can be a great stepping stone for your career in management if you’re hoping to gain deeper insights into the current and past management structures. We hope reading these, along with the right certifications, will enable you to carve a lucrative career path for yourself. 
Read More

by upGrad

13 Mar 2023

What is Business Ethics and Why is it Important
9901
Business is a dynamic arena, with changes coming in the industry at lightning speed. ‘Business ethics’ has become a familiar and popular phrase in the business industry today. Thai article will explore the definition of business ethics, why ethics is important in business, why ethical problems occur in business, different types of business ethics, the benefits of business ethics, and many more business-related concepts.  What do you mean by business ethics? Before we go on to discuss why ethics is important in business, we need to learn what business ethics is in the first place.  Business ethics are moral values and social principles that a business should adopt as its code of conduct. Businesses must follow and accept these rules in their daily operations while dealing with stakeholders or for society’s welfare.  The focus of a business shouldn’t be limited to higher growth or profit maximization but should also emphasize the upliftment and development of its surrounding areas. By following proper ethics, businesses can decide between right and wrong, keeping all circumstances in mind.  There are many factors as to why ethical problems occur in business. A company following strict ethics runs on certain principles like integrity, trustworthiness, honesty, accountability, trust for others, respect, and fairness for all. A discrepancy in any of these principles might cause major organizational problems. The main aim of business ethics is to have a properly functional and safe workforce. With strict implementation of business ethics in the workplace, businesses can maintain harmonious collaborations and relations with employees, customers, the related industry sector, and society at large. Businesses following proper ethics and ethical behavior create goodwill in the market.  What is business ethics and why is it important? Now that we have a fair idea about business ethics, we must take note of the importance of business ethics. They are as follows: Enhances customer satisfaction The customer decides if a business is a success or a failure. The prime concern of every business is to keep its customers satisfied and happy. Business ethics has strong principles for business operations, where the business has to provide quality products to customers at the most reasonable rates.  The business also needs to address customers’ complaints and provide customer support service, preferably round-the-clock. Business ethics enhance customer satisfaction significantly.  Controls malpractices in business Another important reason why ethics is important in business is it helps control business malpractices. There is a direct impact of business ethics on business operations. Ethics set certain principles, guidelines, and regulations, and businesses have to follow these strictly. The violation of these regulations can lead to penalties.  With strict implementation of ethics, the business does not indulge in any unfair activities like adulteration, black marketing, misleading advertisements, and fraud in weights and measurements. A business following ethics will provide the best product to the customer at the most reasonable price.  Learn Management Courses from the World’s top Universities. Earn Masters, Executive PGP, or Advanced Certificate Programs to fast-track your career. Helps in making better business decisions  Business ethics plays a significant role in making better business decisions. By laying down certain rules and regulations, the business has to follow them in the various operations. A business maintains social values and moral principles through these ethics. Every individual integral to the business organization has to abide by these ethics.  Improves relationships with employees  Strained relationships in the workplace are one of the well-known and common causes of why ethical problems occur in business. There is no second thought about the fact that employees make up any business organization. They are the backbone of the business. Business ethics makes sure that the business takes care of the employees in the best manner.  A business must ensure employee welfare while focusing on increasing profit margin and higher growth. Business ethics emphasize that businesses should provide good working conditions for the workers, pay them suitable monetary compensation, address their complaints, let them actively participate in decision-making, and, most importantly, promote them as per their progress and performance. Maintaining a healthy relationship with the employees is always beneficial for any business.  Improves the goodwill of the business  If a business wants to make an impact in the market and capture the market, it is important to make goodwill. Businesses with goodwill draw more numbers of customers. When a business implements ethics in its operations, customers get better service.  On exploring the business market, the observation is quite striking. Businesses that follow ethics religiously operate with honesty but with a low-profit base. The general public has a positive impression of the business, and it is easier for customers to accept the services of the business.  Plays an important role in the protection of society  No business will be successful without society. Therefore, every business must ensure that it should take care of society and its interests. As per business ethics, it is the responsibility of businesses to participate in various infrastructural developmental and welfare programs.  Business ethics ensure that the business caters to various corporate social responsibilities well. It should also not participate in an activity that creates societal issues.  Helps in increasing business profitability  This is one of the prime reasons why ethics is important in business. Market researchers believe that business ethics play an important role in boosting the profitability and productivity of every business. There are certain strict ethics rules that every business organization employee will have to follow.  Business ethics guarantee that every resource hired by the business is completely utilized and there is no resource wastage of any kind. When calculated in the long run, this leads to an increase in business profit.  Explore our MBA Programs in The US Master of Business Administration (MBA) Liverpool Business School Executive MBA From SSBM MBA course from Deakin Business School .wpdt-tc-F44336 { color: #F44336 !important;} What are the various functions of business ethics? Now we have a fair idea about what is business ethics and why is it important. Let us take a look at the various functions of business ethics: Safeguarding the interest of the industry Business ethics is useful for small-scale businesses. In various industries, many large firms exploit smaller firms. With the implementation of business ethics, small-scale businesses get scope for operating efficiently. They reach a position of establishing themselves in the market. By following industry ethics, firms of all dimensions get equal opportunities to do business without exploitation or market dominance.  Helping in making a positive impression in the market Every business has an image in the market. Ethics help in boosting this image considerably. There is close monitoring of all business operations, and unethical activities are highly condemned. Following ethics guarantees business legality, thus providing enhanced customer service.  With strict implementation of business ethics, all kinds of unfair trade activities are controlled and shunned. As a result, customers get quality products. Satisfied and happy customers give a positive impression of the business. This establishes the business in the market.  Helps in protecting consumer rights Consumer rights are one of the main reasons why ethics is important in business. Business ethics make sure that customers get fair treatment and enjoy their full rights. Businesses following ethics provide good quality services to customers at extremely reasonable rates. Customers who get fair treatment and good services from a business remain loyal to them for a long period.  Conclusion Understanding what is business ethics and why is it important is important for businesses of all dimensions nowadays. If there are ethical issues, firstly, it is important to address why ethical problems occur in business and then find solutions to the problems. Once organizations know why ethics is important in business and its benefits, they will start practicing business ethics right away! Learn more about business ethics with upGrad upGrad’s Master of Business Administration (MBA) course from Liverpool Business School transforms and gives wings to your career. Candidates can specialize in various key functional domains, including Strategy and Leadership, Analytics, Finance, Marketing, HR, and Operations.  This 18-month study program is recognized by World Education Services (WES). Apart from getting an MBA degree from Liverpool Business School, candidates have the opportunity to get one-to-one mentorship from industry leaders, interact with business leaders and managers, have live sessions with global experts, and enjoy alumni status at the Liverpool Business School.  On completion of the MBA program, candidates will be well-versed in topics like Business Economics Engagement and People Performance Research Project Management Enterprise and Risk Management Leadership Driving Growth Strategy Digital Business Innovations, etc.  This MBA program is ideal for business owners, working professionals, and entrepreneurs with substantial work experience of 3-8 years.  Apply now for the course and make a great career!
Read More

by Kamal Jacob

09 Feb 2023

Explore Free Courses

Schedule 1:1 free counsellingTalk to Career Expert
icon
footer sticky close icon