Today’s business environment is characterized by fierce competition and an ever-evolving need for growth. The dynamics of the environment have never been the same before. It is characterized by transience and smart business tactics. It is not easy to thrive in the current business environment. Companies need employees who have grit, determination, and expertise. Every step has to be taken with utmost care and with proper introspection. The main aim of companies is not just to gain profits but to devise strategies such as customer acquisition, business takeovers, and partnerships to help keep the business on track of growth. They hire specialized individuals to help them run the company smoothly. One such professional is the Management Graduate.
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What is Business Management?
Business Management focuses on planning and coordinating the business activities of the company. The tasks performed by business managers are numerous. They use their acute understanding of the field to assist the company in devising marketing strategies, overseeing employees’ performance, and ensuring that the company meets its financial objectives. They are an asset to the company due to their sheer expertise and knowledge in the field of Business Management.
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How to learn Business Management?
Business Management offers a wide range of opportunities for professionals. Some of the ways by which you can learn Business Management are-
This is one of the most traditional ways to gain a deeper understanding of the field. You can appear for the entrance examinations based on admission to the institutes.
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One of the ways to understand Business Management is to learn through online courses, degrees, and boot camps. You can gain a deeper insight into the domain from the comfort of your home through the subjects of your choice.
These are the oldest yet the most effective methods of gaining knowledge. A person can learn a lot of things from books. Different authors have different perspectives, reading about which can enhance your learnings to a greater extent.
Top Business Management Books to read in 2023
The Making of a Manager: What to Do When Everyone Looks To You, by Julie Zhuo
This book has all the learnings from the life of Julie Zhuo, who was made a manager at Facebook at the age of 25 with no prior experience. Julie’s novel provides many learnings to new managers, including making decisions that yield better results and the art of delegation.
First, Break All The Rules: What The World’s Most Excellent Managers Do Differently, by Marcus Buckingham and Curt Coffman
The interviews and studies conducted by the authors on the activities undertaken by successful managers found somewhat surprising results. The managers adopted no common rule or strategy. Instead, they all adopted different approaches to managing the human resources and keeping them motivated. That’s what this book talks about.
The Essential Drucker, by Peter F. Drucker
Written by the Father of modern management, this book talks about how challenges in business can be transformed into opportunities for growth. It addresses many aspects of the management, such as challenges, opportunities, etc.
Good To Great, by James C. Collins
The book focuses on the story of 28 companies that have transitioned from good to great in a span of at least 15 years. It uses case studies and a detailed explanation of habits and practices adopted by these companies.
Measure What Matters: How Google, Bono, and the Gate Foundation Rock the World with OKRs, by John Doerr
John Doerr explains in this book the Objectives and Key Results (OKRs) system. The goal-setting system has helped many companies over the years. He explains in this book how to define the objectives; the key results are steps to follow to attain the goal.
How To Win Friends And Influence People, by Dale Carnegie
One of the most famous books of all time, the book by Dale Carnegie, helps managers deal with the organization’s employees. It explains how you can become an admirable personality, which will help win your employees’ trust and ensure their loyalty.
Built To Last: Successful Habits Of Visionary Companies, by Jim Collins and Jerry Porras
The authors conducted thorough research and zeroed upon a list of 18 visionary companies. They listed down several positive aspects of these companies which helped them stay successful for a long time. Some of which include debunking the myths such as a great idea is needed to start a company, and companies focus on beating competitors.
Emotional Intelligence, by Daniel Goleman
The focus of this book is on emotional intelligence and how you can benefit from applying it well. The book also mentions the ways by which you can enhance your emotional quotient.
7 Habits Of Highly Effective People, by Stephen R. Covey
The book focuses on improving your character and the way you see the world to help your success. It talks about which habits you can inculcate to transform your personality for the better. The main theme of the book is that habits can change your future.
High Output Management-By Andrew S. Grove
The book focuses on techniques which help build companies. It is also a guide on leading companies, measuring productivity, making decisions, training employees, etc.
If you are interested in making a career in management, you can check out the Master’s of Business Administration degree offered by Liverpool Business School in collaboration with upGrad. You get to learn through efficient teaching methods provided by the esteemed faculty of Liverpool Business School and through hands-on projects provided available at the portal. Additionally, you get one-on-one mentorship from industry mentors and a great opportunity to learn from your peers worldwide.
Companies have to deal with many issues regularly involving shareholders, customers, and employees about a variety of things such as profits, salaries, price, costs, dividends, etc. They always have to be alert and informed about the new market trends, customers’ preferences, and the economy’s state. This helps them in taking timely decisions, which benefits the business significantly. Farsightedness is one of the essential qualities of a great company. Those who can predict the future first, get the fundamental benefits of the first-mover advantage. A great team has a significant role in the organization’s success. This is why companies have a specific hiring method for hiring employees who will significantly contribute to the company.
This is also why the demand for business managers has increased in the past years and will continue to increase in future. Employment in management occupations is expected to increase 5% from 2019 to 2029.
What is the average salary of a Business Manager?
Business Management is one of the most sought after fields in recent times. The managers are paid handsome compensation for the skills and expertise they bring to the table. The average salary for a business manager in India is around INR 9,98,408.
What are the responsibilities of a Business Manager?
The roles and responsibilities of a business manager are enormous. Some include planning business activities, implementing business plans, leading business operations and devising methods to enhance employee productivity.
What is the career growth of a Business Manager?
Business Management offers a great career scope and a steeper learning curve. With more and more companies being incorporated daily, the need for business managers will only rise in the future. People who have specialized knowledge and are experts in the field will be able to carve out a name for themselves in the area.