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Entrepreneurship vs Working For A Company

entrepreneurship vs working

Is it better to work for yourself or work for a company? It’s a lively debate had at many dinner tables, with no concrete answer. There are great benefits when it comes to working for yourself and better rewards when working for a company. Let’s take a look at the advantages for both cases to help you decide on which works best.

Making a case for the entrepreneur

The unemployment rate in South Africa sits at 26.6%. While this is not the most favourable number for our economy, the number has improved steadily – due in part to the steady entrepreneurship activity.

Entrepreneurs are ‘jack of all trades’. If they’re working by themselves – especially starting out – they’ll need to be experts in finance, project management, and really know how to build a network. Some love entrepreneurship because it offers:

Independence

How many times have you sat at your desk and thought about how different you would approach a project? Entrepreneurs live for this type of freedom because they have the chance to build something the way they want to and have their own direction. An entrepreneur gets to decide if they want to work solo or if they want to hire a small team.

Building your own business also means building your own company culture. You get to decide on the work environment that is most comfortable for you. If you do decide to start hiring, you can employ people who are comfortable with your company culture.

Flexibility

Some people work better in the morning while others feel more productive during the evening. As an entrepreneur, you have the freedom to decide for yourself. If you feel like sleeping in during the day, maybe go for a run, and work the ‘night shift’ – then that’s perfect! Some entrepreneurs like to get an early start and unwind during the afternoons. This is especially ideal if you have a family.

With the right resources, you can have optimum flexibility that some workplaces won’t allow. If you’re in need of a rest day – to avoid burnout and proper work/life balance – you’re allowed to do so without any hassle.

Growth

Being an entrepreneur means that you’re involved in all facets of your business – marketing, finance, HR, etc. This allows you to develop your skills professionally and personally. The entrepreneurial journey is a continuous learning curve and it’s skills that you won’t necessarily get to learn in any other position within an organisation.

Making a case for the employee

The 9-5 lifestyle has been getting a lot of hate but with more companies offering flexible hours, people are enjoying heading to work in the morning. The workforce is getting younger, which means employers are more aware that they need to tend to their employees’ wellbeing, in order to boost productivity.

The ‘9-5 employment’ environment has the following advantages:

Work/life balance

As mentioned before, employers are more aware that employees’ wellbeing should be at the forefront. You work a set of 8 hours during the day and thereafter, you get to go home and enjoy the rest of your day until the next morning. Unlike most entrepreneurs, weekends are for family time, which allows you to switch off for a few days until you have to pick it up again on Monday.

Stable income and benefits

You know your monthly income – it stays the same. You’re never left guessing if this month you’ll have a decrease compared to the previous month. With a stable income, it’s easy to set a budget and savings. Most companies also offer benefits (medical aid, pension, petrol allowance, etc.) which doesn’t take too much out of your income.

Camaraderie

You’re spending eight hours with a group of people who come from different walks of life. This type of exposure in the work environment is great and helps you grow as a person. In fact, some of your best friends are made in the workplace. They’ve been in the trenches with you and celebrate all your wins. A work friendship is often the best because these people will encourage you on an off day.

While entrepreneurship is often glorified, the working environment is also changing. What you choose is entirely dependent on your personality. Either way, you have the chance to develop a professional skill-set.

The benefits of business management

Think of any successful business. What you see behind the face of achievement is a hard-working team using well-developed structures to ensure the most efficient and favourable results possible. All the cogs are in place, tasks are running smoothly, and the system is sustainable.

Business management exists to keep the cogs running or to adjust when one falls out of place. It is a field which is fundamental to the success of a well-run business.

What is business management?

Business management is related to the operation of all administration within an organisation or corporation. The tasks within the role include strategising, giving support to team members, ensuring the goals set out are accomplished, and looking after resources.

Essentially, a business manager is the individual who is tasked with running a business. While it might sound simple in principle, it is an enormous task and involves a huge amount of planning, monitoring, and consistent supervising.

It also should be noted that a good business manager does not personally involve themselves in every matter in the business, but rather delegates to trusted members to look after smaller tasks.

What are the benefits of business management?

Managing a business has a certain appeal to it. Not only do you get to put “Business Manager” on your business card in a fancy font, but you also get to boast other benefits which only managing a business brings.

These are:

  • Having a clear overview of running a business;
  • Fully comprehending the value of a team member;
  • Learning more-rounded approaches to managing people;
  • Developing communication skills that you’d never have before; and
  • Constantly learning on the job.

It gives you a clear overview of a business

If we narrow in to look at individuals tasks performed in business: When performing a task, you need to know the ins-and-outs of it before tackling it. If you are delegating that task to a team member, you still need to understand the basics before explaining it to the person who will be performing it.

Now, if we zoom out to all business operations: Since the manager will know the basics of most tasks being performed they will, therefore, have a basic understanding of the business as a whole and will have a well-rounded knowledge of the business.

You comprehend the value of a team member

If you have to lead people, you need to know what you are asking of them. When you lead well, you will know how to gain the most productive and efficient work out of a happy team member, while knowing what they putting in.

If you understand how important your team is, you gain an understanding of the value of each worker which will help teach you to appreciate, support and encourage them. It also means that if you have to perform the task yourself, you will be able to appreciate the weight of it in the business operations.

You learn new approaches to management

There are five different leadership styles in business management. If you are able to adapt your style to the business you are leading, you are well on your way to passively developing new leadership skills. This is beneficial to both you (as it teaches you new ways to effectively support individuals in their tasks) and your team (as they will be supported and encouraged in ways which bring out their best).

You develop communication skills

In leadership, “communication is key” cannot be stressed enough. If a team member feels comfortable in approaching their manager, they will excel at performing their tasks with confidence.

Although a person can be born with communication skills, the ability is more often learnt through good practice and consistent use. Developing communication skills in order to explain and relay information and accept and process feedback is crucial in business management, but it takes time to learn. This skill is remarkably beneficial because it can be implemented in all areas of life, even outside of the business.

You constantly learn on the job

Similar to learning communication skills through practice, there are a number of business traits which can be learnt on the job. In order to lead people, you first and foremost need to be able to lead yourself. Any self-learning is heightened while leading other people, so the experience you gain in leadership will enhance the lessons you learn.

Why do a short course in business management?

If you’ve completed a business management short course you will have gained insight into what goes into managing a business. This includes:

  • An understanding of the different approaches of leadership and management;
  • Getting to grips with important financial concepts and how the economy relates to the business environment;
  • The nature of marketing and how it is used to accomplish objectives; and
  • Entrepreneurship and how to be excellent at starting and managing your very own business

All of these skills can be theoretically taught and practically implemented in order to take advantage of the benefits business management offers.

What you need to know when leading a business

leading a business

International Women’s Day is on a Friday this year. It cannot be a coincidence that it’s on Friday, which is arguably the best day of the week. Well, it could be coincidence since it’s really just the way the calendar works. Irrespective of serendipity, though, it is fitting that the day to honour women happens to be a day of celebration for workers all around the world.

Marilyn Monroe quote

And what a better way to celebrate than to give a platform to women in business who have cleared and are now paving the way for success and grace to make its way into the world of business. In this, we’ll be offering tips on how to be the best boss in a business which once before belonged exclusively to the boys

How to be the best at leading a business

Be confident in what you are offering

Have the confidence that you are exactly what the business needs. Communication step aside, Confidence is the new key to success. If you believe that you are going to do an excellent job, or if you are able to convince everyone that you can; then the odds of you flourishing and overcoming adversities are far better than if you are unsettled in your ability.

Look ahead

Be forward-focused. Remember: Any failures from the past are precisely that: “from the past”. Focus on what you have learned and know that you are better equipped because of mistakes made. While nothing rattles a person quite like defeat, nothing teaches a person like it either.

“Had I really succeeded at anything else, I might never have found the determination to succeed in the one arena I believed I truly belonged.”


J.K Rowling.

Stay updated in business management

Be relevant.

Now, we don’t mean keeping up with the Kardashians. We mean stay updated with leadership techniques and methods which will take you and your team to the next level. Business is constantly shifting, and so should your tactics on how to lead.

Remember the basics of business

When in doubt, go back to basics. Remember the fundamentals of management and business leadership if you are in a place where nothing else seems valid. This concerns all fields of business such as marketing, operations, and budgeting.

All of these are offered in our Business Management short course. The knowledge gained in the courses gives deeper insight into the theoretical and practical methods of leading a team in a business to ensure the most success in any tasks presented.

Not only can you learn to manage a business for your boss. You can learn how to manage a business where you are the boss.

How to build and grow your own business

The skills you need to have as an entrepreneur are all of the above and more. MasterStart’s Business Management short course also explores how to be an expert entrepreneur and be the best boss while looking out for your team and leading diligently.

Leading a business is taxing work. Building a business is not only on a different page, but it’s also an entirely new book. When you own a business, you need to know how to lead your employees effectively as well as dealing with clients, budget, resources and administration.

Stressful? Most probably.

Satisfying? Absolutely.

Pay attention to the economic ecosystem

What is happening outside of your business is far too important to ignore. The financial state of your country could influence the way in which you guide your business and operations. If you can understand your customer’s finance, you’ll have a better appreciation of what to offer and at how much. Supply and demand drive the business and you need to know which way to steer for a successful journey.

Pay attention to the needs of your staff

This goes hand-in-hand with scaling. Keep an eye on how your staff is doing; without them, your business will collapse. Make sure they have all the resources they need. Also, bear in mind that your team members also have dreams and it’s not necessarily to make yours a reality – so find a way to incentivise their dreams teaming up with yours. A happy team is a strong team and it’s up to you to make sure they are both.

For all the women who are heading up and taking charge in business; you’ve got this and always have. On that note, MasterStart is wishing everybody a happy, productive International Women’s Day this Friday.

Best educational apps for studying online

educational apps

There is no denying it, our world has changed. We live in the digital age where smart technology, the best educational apps and mobile devices are the future. This new trend has had a huge impact on education, making it far easier to study online. MasterStart and the University of Stellenbosch business school have an array of exciting online short courses to improve your skills and boost your career to new heights. Follow us as we look at the best educational apps to help you improve your online learning experience.

RefME is one of the best educational apps out there

RefME is one of the best educational apps that is extremely handy for any mobile device user. The user can simply scan a books barcode using a mobile phones camera and the app will generate an accurate, cross platform citation. The app works on Android, IOS and the Web. This is hands-down one of the best apps for studying as it provides you with quick, on the go information to help you study online more effectively.

It’s also interesting to note that RefME has joined forces with Cite This For Me. Now referencing on the go is easier than ever before. You can still find all your favourite styles, plus many comprehensive guides to help you understand a particular style in more refined detail.

Crowdsource study material with Chegg

If you’re looking for the best educational apps to help you study online then you must have a look at Chegg. The app is available for free on both Android and IOS devices. The app is basically an online crowdsourced study library. Users are exposed to over four hundred million flashcards, notes and even study guides.

Users participating in online short courses can easily create and share study material effortlessly, this allows you to search for recommended study content from classmates, track progress, set reminders and create and partake in custom quizzes. This makes Chegg one of the best educational apps to help you study online.

Keep memos with Evernote

Evernote is a tool that allows users to capture a note or memo in any format including a web clip of a product or service for review or reference, a photo of a business receipt, an audio file, text meeting or even handwritten notes. The app is easy to use and navigate, available on Android, IOS and Web for free. Its diverse functionality and instant record keeping ability makes it one of the best apps for studying online.

If you are an online short course participant with MasterStart and the University of Stellenbosch business school you can use Evernote to help you remember key points of your course. As our courses provide you with real time working experience, it can be useful to capture memos on the go to constantly remind yourself of what you have already learnt and implement it into your working day.

Define your words with one of the best educational apps available

The Oxford Dictionary has been around for ages now and new words keep getting added as slang constantly creeps into the English language subtly. If you study online then you need a mobile tool that can help you look up words on demand.

The Oxford Dictionary of English is easily one of the best educational apps that will improve your vocabulary with each search. The 2018 version is available now with an even greater catalogue of words. Get it on Android, IOS and the web for free.

Plan your studies efficiently with myHomework Student Planner

The best educational apps are created to make your life easier as a student. myHomework Student Planner does exactly that. Study online effortlessly with a tool that will help you stay organized and on-top of all your tasks and assignments. The app will allow users to easily track classes, homework, tests and projects so you never forget a task again.

The app is available across multiple devices running Android, IOS and Windows. Users opting for the free version of the app can expect these vital features:

– Track your classes, homework, tests and assignments
– Receive homework reminders
– Monthly and weekly calendar display
– Supports time, block and period-based schedules
– Sync across other platforms

Get in the game

It is more common to study online than ever before. With the amount of resources available, completing online short courses is a breeze in today’s day and age. The above mentioned online tools are only a handful of the best educational apps available for people who study online. Keep checking our blog page for more useful advice to earn your qualification without a hitch.

What is Project Management? Everything you need to know

project management guide

What is project management?

Project management involves overseeing the opening, planning, implementing, and closing stages of tasks done by a team with the intention of successfully completing specific goals in a specific time frame.

The project management process

Project management is centrally focused around achieving goals within a process. As a project manager, one needs to ensure that resources work together in cohesion to achieve the project’s goals, and that all team members involved perform their function flawlessly. The purpose of any project is directly linked to it achieving its goals successfully and efficiently.

Project management in 2020

Today, project management organisations have built upon the process that has been developed over time and has become more streamlined than ever before. The roles that people fill in modern times have become flexible and encompass a great range of tasks.

General project management is a skill required for people to stay on top of their work. To ensure you are making yourself the best you can be, take a short course, earn a project management certificate, gather new skills and stay relevant in a world that is constantly changing.

MasterStart has an array of exciting, time flexible online courses that will keep you up to date in today’s modern world while offering flexibility.

Project management in industry

Project management in construction

At the core of construction project management, there is planning, coordination and the execution of a construction project. The construction industry handles an assortment of various projects including agricultural, residential, commercial, institutional, industrial, heavy civil and environmental.

Project management in finance

The project manager in a financial project is responsible for making plans, leading and taking control of activities within finance-focused tasks, systems changes and technology improvements in the department of finance.

Project management in the insurance industry

As an insurance project manager, one is expected to collaborate with team members effectively to keep an eye over project scope, ultimately reducing scope creep.

Project management in healthcare and social assistance

Healthcare project managers are primarily concerned with lowering cost outputs. However, the biggest benefit of a healthcare project manager is the ability of the institution to be a step ahead of any potential risks.

Project management in science and technology

At the core of the scientific and technology world is the aim to improve life. Project management in these industries allows for greater control and execution of tasks. A project plan is implemented and executed accordingly on time and within the budget constraints, mitigating any potential risks in a project.

Project management in mining

As a mining project manager, one is required to ensure that the relevant project management phases are completed in a timely manner. Ensuring that the right people with the relevant qualifications and experience are on your site is critical as well as seeing that the mining equipment used on site is well maintained and upgraded constantly to achieve the best results in all the project phases.

Project management in retail

The retail market is highly competitive, within local, regional, national and international markets. This leaves the gate open to an assortment of potential challenges, so a project manager needs to be constantly up to date in the fast-moving consumer goods (FMCG) project management industry.

Project management in education

Project management in education aims to promote the quality of learning to make it more interactive and enjoyable. Web based tools allow for real time communication and collaboration, enhancing learning experiences.

What to study if you want to change your career to become a project manager

If you are interested in a career change or if you would like to incorporate project management skills into your C.V, a project management course from MasterStart can help you achieve new heights effortlessly. Download the brochure here.

Technology in project management

The digital world has taken the pressure off emerging businesses for physical project managers. Now, business owners and startups can use project management software to run plans efficiently.

Online project management tools offer the user a variety of unique benefits. This includes the ability to plan projects on demand while keeping everyone in the loop, time management through constant communication and sticking to the company’s culture all while building the business. Useful online tools keep track of what’s ahead; effectively creating a space where project management can exist for non-project managers.

Project management in small to medium sized businesses

Small to medium enterprises (SMEs) are important to any economy, offering employment and fresh innovation. Project management is significant in enabling this input smoothly. Unlike larger corporations, SMEs require less administrative procedures of project management than those used by larger, traditional organizations.

Project management in large organisations

Project management is essential in big companies. Industries like construction and mining are the backbone of a country’s infrastructure and bring in a wide variety of investments.

The dedicated project manager in a large organisation will manage the entire company’s workforce effectively, to achieve the best project management life cycle.

Project management steps

Project managers require a very specific set of skills. They need to implement distinct project phases to help them achieve their goals. There are a few project management phases to consider which are essential for successful outcomes:
1. Set clear project expectation
2. Define clear goals in project phases
3. Communicate effectively
4. Plan around project risks

Project management careers

Starting out in project management can be challenging. If you are on the lookout for careers, there are numerous factors to consider. Entry level jobs require some sort of project management certificate to get your foot in the door.
Show potential employees’ dedication to your chosen field by undertaking a project management certificate. This will help you get started within project management coursework that could ultimately lead to a project management internship and then, steady project management jobs

Finding project management jobs

If you are really interested in learning project management, a short hands-on course could be just the boost you need to secure a project management internship. MasterStart in collaboration with the WITS Business School (WBS) have a Project Management online short course that provides participants with real workplace skills that can be implemented on the job almost immediately.

Are project management jobs right for me?

Specific skills are needed to ultimately excel in the workplace. If you are interested in project management jobs, see if your personality fits these ambitious characteristics:
· Detail-oriented
· Communicative
· A concise planner
· Efficient at delegation
· Natural leader

Project management salary summary

The industry is growing rapidly with many opportunities in this occupation, the expected project management salary is also becoming more attractive.
According to payscale, an employee that has undertaken short courses in project management can expect to earn the following according to their occupational level:

The industry is growing rapidly with many opportunities in this occupation, the expected project management salary is also becoming more attractive.

According to payscale, an employee that has undertaken short courses in project management can expect to earn the following according to their occupational level:

Occupational levelAverage annual income
Entry levelR159,950
Project manager professionalR400,000
Top-end manager professionalR767,740


Furthermore, bonus remuneration in the project management industry varies according to your experience and ranges from R4,862 – R101,030.

Project Management certification

The project management online short course offered by MasterStart in partnership with the WITS Business School (WBS) will provide course participants with the confidence and knowledge to create a successful, extensive project plan. The course will guide participants from the inception of project management phases all the way through to final execution of a given project.

MasterStart’s project management online short course aims to bridge the gap between a lack of practical working experience and project management theory. By embarking on this online short course you will obtain a problem solving mindset, where you will learn new and exciting skills from each module.

All skills acquired in this short course will help you build a solid portfolio that can count towards your professional designation as a project management professional.


Grow into a project management role in just a few short weeks, download the Project Management brochure.

The project management process

Costing in the project management process

Cost management in the project management process is estimating, allocating, and controlling the costs of a particular project. It allows a business to predict future expenses in order to reduce the chances of going over the project’s budget. Projected costs are calculated during the planning phase of a project and must be approved before work even begins. As the project plan is executed, expenses are documented and tracked so all costs stay within the budget.

Quoting in the project management process

As a project manager you would need to constantly interact with suppliers. A quotation is a supplier’s response to a customer’s request for goods or services. Once a quotation has been issued the supplier is legally bound to the price of the initial quotation for the time period that it is valid against.

Client management in projects

Client management in the project management process is about improving the project experience, simplifying the processes, exceeding expectations and reducing stress for the client. It focuses on creating powerful client relationships and puts the client first.

Communication in project management

Leadership and communication are key to the project management process. As a project manager, you need to have strong leadership and mentorship abilities, not only to help people accomplish project tasks but also to help them grow and learn practically.

Reviewing the project management process

Reviewing project tasks is also apart of briefing people. The project manager will review tasks and work on deadlines with the team accordingly. In the review process the project management phases start to take shape and the goals start to build towards the end result holistically.

Resourcing in the project management process

In the project management process, resources are required to complete the project life cycle. Project managers need to ensure that the correct resources are used appropriately, so as not to waste, keeping the project plan within the specified budget. Resources are machinery, workers, equipment, facilities and even financial capital. Resources ensure that the project management phases run smoothly and efficiently. Without resources the project would ultimately fail.

Time management

Time management is crucial as a project manager. You will need to organise and plan the time spent on tasks each day. Mastering the art of time management will boost your team’s effectiveness and productivity. The easiest way to achieve effective time management is through strategic planning in all the project management steps.

Efficiency and profitability in the project management process

The project management process is built on efficiency and profitability. These core values allow the project management lifecycle to play out as planned. A project management professional needs to achieve goals efficiently, utilising resources effectively in order to achieve maximum profitability.

A day in the life of a project manager

A project manager has a vast array of responsibilities and daily tasks that he or she must implement on demand daily. The daily project management process encompasses many activities including:
· Planning and Defining Scope
· Activity Planning and Sequencing
· Resource Planning
· Developing Schedules
· Time Estimating
· Cost Estimating
· Developing a Budget
· Documentation
· Creating Charts and Schedules
· Risk Analysis
· Managing Risks and Issues
· Monitoring and Reporting Progress
· Team Leadership
· Strategic Influencing
· Business Partnering
· Working with Vendors
· Scalability, Interoperability and Portability Analysis
· Controlling Quality
· Benefits Realisation

Tips for project managers

Tip 1: Successful project managers learn to observe their surroundings

Soak up your surroundings and analyse your team members, learn their strengths and weaknesses and apply each member to tasks accordingly. Successful project managers listen to what their team has to say and implements their suggestions accordingly. This will show cohesion and willingness for an adaptable project management style.

Tip 2: Work smart and solve problems

Planning is the biggest factor that allows project management professionals to mitigate risk. If you do your fair share of planning before the initial project phases, then you will be able to solve problems much more efficiently and mitigate potential threats.

Tip 3: Utilise tools effectively

Successful project managers stay a step ahead and look to optimise working platforms in any way possible, to make the project run more efficiently. Keep taking notes on what works and what doesn’t and stay on track of the project’s goals.

Tip 4: The customer is king

You need to learn what your customers want and how to give it to them. Successful project managers listen to their customers’ needs and adapt the project management strategy around that.

Tip 5: Successful project managers sharpen their skills

There are a variety of options available for a project management qualification, especially in today’s digital age. You can study a project management degree, opt for a project management online course or even a project management short course certificate. Your qualification or furthering your studies will show your employer that you are committed to a successful project manager’s mindset. Pursue your qualification with passion and you may soon find yourself a member of the Project Management Institute of South Africa (PMISA).

Plan for success in 2019 now

plan for success

In just a few simple steps you can cement your plan for success in 2019. The past year may have come and gone swiftly, and you may feel like you are stagnating in life, doing the same thing over and over again just to make ends meet and ensure your daily existence. There is good news though; we have a plan for success in 2019 that you can start implementing now for your best year ever.

“Success is not final; failure is not fatal: It is the courage to continue that counts.”

— Winston S. Churchill

We have created a world where we are in a constant comfort zone. The process of change is difficult because humans fear the unknown and comfortability is better than the uncertainty that lies beyond doing something different. If you want to plan for success, you need to start thinking about your future, writing about your future plans and start taking action for your future goals to succeed. We have uncovered a winning recipe for the ultimate plan for success in 2019. Follow us as we unearth the hidden potential that lies within you for a better life and career.

Take notes and develop a strategic plan

There are a few things that separate successful people from everyday somebodies that pass you by on the street. In today’s day and age, it’s simply not enough to work hard. If you want to plan for success you need to learn the art of setting goals and then take action accordingly to implement a plan to achieve your goals.

Everyone is motivated by different things, whether it be fortune, status or even mindfulness, your plan for success needs to be uniquely specific to what drives you. Take notes on your thoughts and ideas, create a long term plan and structure it with short term goals. Achieving your goals, no matter how small, will drive you and keep you doing something different every day.

Plan your time to plan for success

Everyone has a busy schedule and as much as we wish we could split ourselves into five beings daily, it’s just not possible. If you want something in this life you have to take it. If you want to plan for success then you need to make the time to make sure you are constantly on track with your goals.

Successful people make the time to find ways how to achieve goals. Start capitalising on essential hours of the day where you can monitor your personal progress. Whether it be in the car on the way to work, at lunchtime or even before bed. Develop discipline for a step by step plan that will ultimately help you plan for success in 2019 now.  

Keep records and reflect

Take notes constantly to keep a record of your journey. This will ensure that you are on a path that allows you to plan for success rather than constant disappointment. It’s about doing something different and implementing the plan and taking action.

Reflect on where you are and where you want to be. Take notes and monitor your performance. Successful people know how to achieve goals because they get a plan, monitor their progress and constantly take action to ensure they are exactly where they need to be. If you start doing the same you can plan for success in 2019 effortlessly.

Effective decision making as a business manager

effective decision making

The good the bad and the ugly of effective decision making.

As a business manager, you will be faced with difficult decisions every day. Effective decision making is vital to the business’s objectives. You need to learn good decision-making skills, which can be difficult to implement at the best of times, as you are constantly under pressure at work.

There are many examples of difficult decisions in the workplace, as a business manager you need to overcome challenges and take the personal aspect out of your decision-making process, to do what’s best for the business’s needs.

Take a step back look at all the angles

Effective decision making, especially in a business environment can only be achieved with a clear head. Sometimes you need to back away from the situation at hand and place it in context for yourself. The decision-making process needs to be rationalised from a cool and collected stand point. Take a back seat, breathe and analyse the problem in order to communicate an effective solution, resulting in good decision making.

Don’t just rely on your intuition to make important decisions

As a business manager, you need to look at your world holistically. No one is born with good decision-making skills, this is a unique tool that must be honed and perfected over time. What have you learnt from your mistakes in life? If they have taught you anything you would know that evidence should guide you for effective decision making.

E.B.M or the evidence-based management approach is an essential part of decisions in business management. People tend to lean towards their gut feeling and make impulsive decisions based on what they see at first sight, rather than digging deeper to uncover the real facts. Use scientific evidence and data within the business strategies for an overall effective decision-making process.

Use outsiders perspectives to challenge the status quo

You must trust your own judgement and have the courage of your convictions for effective decision making in the business world. That being said; getting an outsider’s perspective can help you challenge your thoughts and create an objective standpoint to which you can reason with and challenge for a proficient decision-making process.

This will challenge your own status quo and will help you think outside of the box, developing a problem solving mindset that can help you in many areas of an organisation as a top business manager.

Mitigate risk for effective decision making

There are numerous examples of difficult decisions in the workplace, yet as a business manager, one aspect of running an organisation that you can never over-plan for is your business risk. These can always be learnt from some of the greatest entrepreneurs.

You need to establish clear plans and mitigate risk effectively in your decision-making process. This is one of the most difficult parts of effective decision making as you need to play the devil’s advocate all the time. You constantly need to be on the lookout for what can go wrong and you need a contingency plan should the potential threat strike unexpectedly.

Operational planning and Strategic management

strategic management

In business management there are two very distinct management processes to follow to keep the business running efficiently. Follow us as we take a look at the differences between the role of a strategic manager and the functions of operations management.

Strategy versus implementation processes

The role of a strategic manager is difficult to pinpoint. A strategic manager in a business needs to implement a strategic management process which affords the organisation with a vision that ultimately informs the functions of operations management.

So, strategic management is concerned with analysing a long term plan with a specific vision. The role of a strategic manager is to work closely with the company and help them reach their long-term goals. It’s important to note that the role of the strategic manager analyses the market, accounts for trends and plans for potential threats or risks. The strategic manager will then implement the company’s vision through the functions of operations management.  

The role of a strategic manager is holistic while operations management is practical

The role of a strategic manager in a business environment utilises analytical, synthetic and rational decision making processes to create a company vision. They combine these qualities with innovative thinking that focuses out of the conventional box to create long-term company goals. This makes the strategic management process holistic as it focuses on the company from an aerial perspective.

The importance of operations management should however, never be overlooked. Without operations management, strategic management would fail. The functions of operations management work hand in hand with strategic management. Operation managers implement the company’s vision on the ground. They ensure that all processes are optimised for efficiency. They handle staff and company objectives, ensuring company policies are upheld at all times. Operation manager skills are essential as they are the practical tools that keep the company flowing daily.

How do these two types of management affect businesses?

The role of a strategic manager is chiefly concerned with establishing a businesses target market, and how it will go about competing and capturing value in each segment of that market. Therefore the strategic management process can be summed up as an analytical business plan.

The functions of operations management is more practical and hands on. An operation managers skills are implemented to physically run the business daily. Operations managers work with the company’s resources and maintain company policies to achieve goals and keep the company on track.

Study business management for the leading edge

If you want to study business management, there are a few things to consider before diving into a business management career. Business management is essential in everyday company practice as these professionals utilise the knowledge acquired and the benefits of studying business management, to operate all facets of a business effectively.

Follow us as we take a look at the benefits of studying business management and various business management short courses to consider opting for, in order to enhance your personal skills and boost your career to new heights.

What is business management?

Business management is the formulation, organisation and implementation of a businesses plan. All these processes need to work together seamlessly in order for the business to reach maximum productivity. It is the business managers job to ensure that the entire operational process runs smoothly, from start to finish.

Why study business management?

Business management is essential in all organisations, someone needs to oversee business productivity and continue to ensure longevity and business growth for the foreseeable future.

A business management career will never go out of date because every organisation requires a business management professional to keep running an organisation efficiently. This is exactly why it is a good idea to study business management, as you will always be able to fill many irreplaceable roles in any organisation.

Work experience can only take you so far

The world is changing at a rapid rate and your working experience can only afford you with some essential skills in your business management career. You need to constantly upskill yourself and hone your skills to stay up to date in the modern workplace. If you study a business management course you will gain a critical understanding of modern principles and practices.

You don’t even need a business management degree. The benefits of studying business management on your own terms are infinite. Online short courses in business management can keep you in the loop and help you remain relevant in your field and the modern workplace.

MasterStart has a perfectly optimised online short course in Business Management that will not only keep you relevant in today’s business climate, but also afford you with real time, practical working skills that can be implemented in the workplace almost immediately.

Technology is challenging traditional business practices

The latest technology is not only making certain business management roles redundant in organisations it is optimising and perfecting business processes. In order to remain relevant within the technological realm you should consider the new-age benefits of studying business management within the context of operations today.

To keep up to date with the demands of a tech-infused world, consider a platform that allows you to study a business management short course on your own terms and at your own pace. Online short courses in business management are accessible and far more cost effective than traditional tertiary qualifications.

Your understanding of the business can be broadened overnight

By opting to study a business management course you increase your overall understanding of the various departments that comprise an organisation. It’s no secret, the resources in the businesses financial department know little to nothing about the marketing processes that are implemented to keep the company’s exposure rate high.

In today’s competitive arena it is essential to get a firm grasp on all aspects of the business. This will not only allow you to do a better job, it will also make you an irreplaceable employee. Studying business management online will afford you with a diverse understanding of how each component of the business operates to achieve maximum productivity as an employee.

Theory supports practical engagement when you study business management

There’s no doubt about it, practical experience beats theoretical knowledge hands down in just about every industry.

By embarking on a business management short course you get to study business management theory that you can incorporate into your practical working experience within your organisation.

The theory is an outline and the more you develop the outline by implementing practical working experience the better equipped you are to do your job, which ultimately results in smart learning techniques that help you further your career effortlessly.

Immerse yourself in the company of business leaders and learn from them

Even the brightest minds get stuck with a problem from time to time. If you are too comfortable it means you aren’t learning anything. One of the biggest benefits of studying business management with MasterStart is that it affords you with real time working experience. It is important to share your ideas and engage with industry leaders. Study business management to keep yourself relevant but also to keep learning, pushing yourself out of your comfort zone, propelling yourself to your next career step.

What does a business manager do daily?

what business managers do

What does a business manager do in an organisation daily? Essentially a business managers job description is to oversee the company’s productivity. He or she will manage all the processes and staff to ensure that the organisation runs at optimal capacity. Business manager skills are important because they keep employees actively involved in all aspects of the business. From small businesses to large organisations, all companies require the skills of a professional business manager.

The role of a business manager in various sized organisations

When you think about it, what does a business manager do in various sized organisations? A business managers job description can vary from company to company, especially when you consider the size of the organisation. The role of the individual will also affect a business managers salary range.

What does a business manager do in small businesses?

In small companies a business managers skills will be applied to overall operations. A small company may even subdivide the work, where the business managers job description is to run operations and the office manager will deal with all clerical concerns and oversee the staff compliment.

What does a business manager do in large organisations?

What does a business manager do differently in large organisations as opposed to small businesses? Bigger companies require more targeted business manager skills. Large organisations will make use of a business manager to oversee specific departments such as marketing, sales or even production. This targeted approach makes use of specific business management skills to optimise individual departments in large organisations for maximum productivity.

What does a business manager do, the tasks, duties and responsibilities

Business managers are responsible for overseeing the activities of workers, from hiring, training and even evaluating the performance of new employees. The business managers job description is never set in stone, as the company grows and changes the responsibilities may change dynamically to suit the expanding needs of the organisation. Most importantly, a business managers job description is to ensure that a company or specific department is on track to meet its financial goals and expected growth.

Aside from managing staff and running operations efficiently a business managers job description may also include other activities. These include developing and implementing budgets, preparing reports for senior management and ensuring that each department complies with official company policy. A business managers skills also need to be devoted to the company holistically. This means that they can’t just expect people to work without the necessary resources, it’s part of the business managers role to ensure that the staff have the necessary resources to maintain a high standard of work at all times.

Considering a career in business management?

If you’ve been pondering what does a business manager do in a company daily, then you have more than likely considered a career in business management. As a business manager you need to have excellent written and verbal communication skills to direct employees and lead departments.

The majority of employers require a business management qualification

You can opt for a formal business management degree, or if you would like essential skills to start you off consider a business management short course to break into the workplace. MasterStart has a multi faceted Business Management and Leadership online short course that will provide you with practical working skills, which you can implement in the workplace almost immediately.

If you want it, grab it

If you are a natural born problem solver that loves leading teams and accomplishing goals then business management may be the perfect career for you. Keep checking back on our blog page for more insights into business management courses, careers and skills.