Our lives revolve around one form of business or the other; It has been that way since the existence of the first or early men— when there wasn’t any form of currency and people basically traded by the exchange of goods and services.
In this day and age, with the advancement in technology and services, trade transactions that used to be very simple and straight forward have become very complicated and very much sophisticated, which has driven the demand for industry experts and professionals to be on the rise!
Bearing in mind the demand for industry experts, it appears apparent that obtaining a business degree from a traditional university campus or even taking an online Business MBA program might be the way to go. But if for some reason you still don’t feel that obtaining some form of education can help you in your commerce and even in your life—then stay tuned, as we are going to be shedding some light on how an enterprise training can help you both globally and locally.
Business Strategy
Every company has to—at some point address the changes that have arisen, or can be speculated to emerge within the scope of their operating enterprise environment. Many of such changes are bound to occur and if an organization fails to recognize and respond to those changes…then they run the risk of having a lot of operational pitfalls, some so bad that it can even shut down the entire operation.
But a business degree teaches you how to continually carry out monitoring of your trade environment in order to spot or recognize any influences that may require action through STRATEGY. There are usually two environments that a commerce degree teaches you to be on the lookout for: and they are the INTERNAL and EXTERNAL business environments.
Investigative skills
Business education will not only teach you how to start and run your company but will also teach you how to analyze and investigate your enterprise to uncover problems and issues. It will show you how to employ a range of investigative techniques and choosing those that are most suitable for the task being handled. There are usually three stages involved in this process.
- Qualitative investigation.
- Quantitative Investigation
- Documenting the results of the investigation
Qualitative Investigation: this type of investigation involves techniques that are used to discover the broadest possible range of facts and opinions about different issues. Obviously, facts are very crucial, but so are opinions—because they help the business owner or manager to understand the people involved in the matter, and start to assess how welcoming they are to change. Not only that, it helps to spot their fears and hopes about the current situation, and to uncover who may be, for or against the implementation of change. Here are examples of techniques that can be used in qualitative analysis
- Interviewing
- Workshops
- Observation
Quantitative Investigation: In conjunction with the qualitative investigations, it is crucial to have hard facts and data in order to be able to gain further insights into the organization’s problems and issues. Things like how many hours are spent on resolving customer complaints as opposed to taking new orders, is there a peak period at a particular time of the month, how many invoices are issued on a weekly, monthly and annual basis. This process involves using systems like
- Sampling;
- Questionnaires;
- Document analysis;
- Special-purpose records.
Documenting results: Usually, the easiest way of filing the findings of an investigation is by writing up a report. However, this is a very strenuous, laborious, time-consuming, and even sometimes the real reason for the problem or situation can get lost in a vast maze of text. As an alternative (which only a business training will give you) you can subscribe to the use of more visual techniques or systems like.
- Mind maps
- Rich pictures
- Context diagrams
Consider Perspective
One of the prominent things a professional endowment can do for you as someone managing an organization is working with stakeholders. Stakeholders can assist or resist change, they can clarify or confuse requirements, and they have knowledge that the business controller needs to gain or acquire. This makes the importance of working with stakeholders very crucial.
After an investigation of a company has been carried out, a company manager or owner needs to sit back and think through the issues that have been identified. At this stage, thinking through the data gained and those who provided such data can be invaluable in discovering hidden agendas, inconsistencies, and personal priorities. Failing to ponder on these issues or worse still, delaying this thinking until a problem arises, can derail or hinder later work. Potential impacts could be the rejection of a business case, requirement conflicts, or failure of new systems and processes.
The process of working with stakeholders involves three major steps.
- Stakeholder Identification
- Stakeholder analysis
- Stakeholder management.
Analyze needs
Like we talked about earlier on at the beginning of this article, early forms of trade analysis or management used a systematic process for improving existing operational systems. This usually involved analyzing and documenting the existing business situation and then adding in additional requirements that would solve the current predicament. Now even though this process gave thought to incremental improvement, it didn’t take into account broader stakeholder visions for the company’s systems. Which invariably implied that focusing on addressing problems meant that more significant opportunities were sometimes missed. Over the years with the help of business training institutions, corporate analysis, and implementation have evolved, such that they now teach managers and company owners to take into account approaches based upon systematic thinking. Check out the example below.
CURRENT SITUATION <——GAP——> CONCEPTUAL, DESIRED SITUATION
From the framework above, the conceptual view of an organization’s system is contrasted with the view of the current situation of the business. Below are three range of techniques that can support this approach, and covers the following areas:
- Organization modeling
- Business process analysis
- Business change identification.
Organization modeling: this concerned with the analysis of the company-level processes that deliver useful outcomes to the clients and customers. There are many techniques for this, but for the sake of this article, only three will be mentioned.
- Value proposition analysis
- Value chain analysis
- Organization diagrams
Business process analysis: as we talked about earlier, a commerce activity model may be used to show a conceptual view of an entire company’s system, with its focus being on what should be in place to fulfill a given goal. Trade process analysis complements this view by making available a representation of how activities are carried out. This process helps in understanding various enterprise events the company has to deal with and the business regulations that constrain its operations. Examples of techniques are as follows:
- Business event analysis
- Business process modeling
- Business rules analysis
- Decision tables and decision trees
Business change Identification: Potential company changes are identified by comparing and contrasting the current and desired views of the business systems. The technique employed in doing this is called “gap analysis” since it concentrates on examining the gaps between the desired and current situations. Actions will be required to be taken in order to close the gaps and thereby change the business system.
In conclusion, you can see from the birds-eye view of what you are gonna get by having some sort of entrepreneurship training and the huge role it can play in transforming your professional and financial endeavors.
HOW MBA (GLOBAL) CAN GIVE YOU AN EDGE LOCALLY
Our lives revolve around one form of business or the other; It has been that way since the existence of the first or early men— when there wasn’t any form of currency and people basically traded by the exchange of goods and services.
In this day and age, with the advancement in technology and services, trade transactions that used to be very simple and straight forward have become very complicated and very much sophisticated, which has driven the demand for industry experts and professionals to be on the rise!
Bearing in mind the demand for industry experts, it appears apparent that obtaining a business degree from a traditional university campus or even taking an online MBA program might be the way to go. But if for some reason you still don’t feel that obtaining some form of education can help you in your commerce and even in your life—then stay tuned, as we are going to be shedding some light on how an enterprise training can help you both globally and locally.
Business Strategy
Every company has to—at some point address the changes that have arisen, or can be speculated to emerge within the scope of their operating enterprise environment. Many of such changes are bound to occur and if an organization fails to recognize and respond to those changes…then they run the risk of having a lot of operational pitfalls, some so bad that it can even shut down the entire operation.
But business degrees teach you how to continually carry out monitoring of your trade environment in order to spot or recognize any influences that may require action through STRATEGY. There are usually two environments that a commerce degree teaches you to be on the lookout for: and they are the INTERNAL and EXTERNAL business environments.
Investigative skills
Business education will not only teach you how to start and run your company but will also teach you how to analyze and investigate your enterprise to uncover problems and issues. It will show you how to employ a range of investigative techniques and choosing those that are most suitable for the task being handled. There are usually three stages involved in this process.
- Qualitative investigation.
- Quantitative Investigation
- Documenting the results of the investigation
Qualitative Investigation: this type of investigation involves techniques that are used to discover the broadest possible range of facts and opinions about different issues. Obviously, facts are very crucial, but so are opinions—because they help the business owner or manager to understand the people involved in the matter, and start to assess how welcoming they are to change. Not only that, it helps to spot their fears and hopes about the current situation, and to uncover who may be, for or against the implementation of change. Here are examples of techniques that can be used in qualitative analysis
- Interviewing
- Workshops
- Observation
Quantitative Investigation: In conjunction with the qualitative investigations, it is crucial to have hard facts and data in order to be able to gain further insights into the organization’s problems and issues. Things like how many hours are spent on resolving customer complaints as opposed to taking new orders, is there a peak period at a particular time of the month, how many invoices are issued on a weekly, monthly and annual basis. This process involves using systems like
- Sampling;
- Questionnaires;
- Document analysis;
- Special-purpose records.
Documenting results: Usually, the easiest way of filing the findings of an investigation is by writing up a report. However, this is a very strenuous, laborious, time-consuming, and even sometimes the real reason for the problem or situation can get lost in a vast maze of text. As an alternative (which only a business training will give you) you can subscribe to the use of more visual techniques or systems like.
- Mind maps
- Rich pictures
- Context diagrams
Consider Perspective
One of the prominent things a professional endowment can do for you as someone managing an organization is working with stakeholders. Stakeholders can assist or resist change, they can clarify or confuse requirements, and they have knowledge that the business controller needs to gain or acquire. This makes the importance of working with stakeholders very crucial.
After an investigation of a company has been carried out, a company manager or owner needs to sit back and think through the issues that have been identified. At this stage, thinking through the data gained and those who provided such data can be invaluable in discovering hidden agendas, inconsistencies, and personal priorities. Failing to ponder on these issues or worse still, delaying this thinking until a problem arises, can derail or hinder later work. Potential impacts could be the rejection of a business case, requirement conflicts, or failure of new systems and processes.
The process of working with stakeholders involves three major steps.
- Stakeholder Identification
- Stakeholder analysis
- Stakeholder management.
Analyze needs
Like we talked about earlier on at the beginning of this article, early forms of trade analysis or management used a systematic process for improving existing operational systems. This usually involved analyzing and documenting the existing business situation and then adding in additional requirements that would solve the current predicament. Now even though this process gave thought to incremental improvement, it didn’t take into account broader stakeholder visions for the company’s systems. Which invariably implied that focusing on addressing problems meant that more significant opportunities were sometimes missed. Over the years with the help of business training institutions, corporate analysis, and implementation have evolved, such that they now teach managers and company owners to take into account approaches based upon systematic thinking. Check out the example below.
CURRENT SITUATION <——GAP——> CONCEPTUAL, DESIRED SITUATION
From the framework above, the conceptual view of an organization’s system is contrasted with the view of the current situation of the business. Below are three range of techniques that can support this approach, and covers the following areas:
- Organization modeling
- Business process analysis
- Business change identification.
Organization modeling: this concerned with the analysis of the company-level processes that deliver useful outcomes to the clients and customers. There are many techniques for this, but for the sake of this article, only three will be mentioned.
- Value proposition analysis
- Value chain analysis
- Organization diagrams
Business process analysis: as we talked about earlier, a commerce activity model may be used to show a conceptual view of an entire company’s system, with its focus being on what should be in place to fulfill a given goal. Trade process analysis complements this view by making available a representation of how activities are carried out. This process helps in understanding various enterprise events the company has to deal with and the business regulations that constrain its operations. Examples of techniques are as follows:
- Business event analysis
- Business process modeling
- Business rules analysis
- Decision tables and decision trees
Business change Identification: Potential company changes are identified by comparing and contrasting the current and desired views of the business systems. The technique employed in doing this is called “gap analysis” since it concentrates on examining the gaps between the desired and current situations. Actions will be required to be taken in order to close the gaps and thereby change the business system.
In conclusion, you can see from the birds-eye view of what you are gonna get by having some sort of entrepreneurship training and the huge role it can play in transforming your professional and financial endeavors.