Companies today are focused on growth. According to a Gartner survey, 45% of CEOs and 62% of CFOs rank growth among their top three strategic priorities for 2023. Expanding into new lines of business, increasing customer bases, or facilitating mergers can be transformative for companies of all sizes, propelling them to new heights. A successful expansion of a business will require a business management system with a systematic approach.
Achieving these growth objectives requires businesses to navigate a variety of complex and challenging approaches. The way a business is administered governs its success parameters. Numerous factors must be kept in mind while handling a business. It is important that an expert professional handles the core business management tasks. Let us understand how business management systems can assist in an organization's growth process.
Businesses have an array of activities that have to be kept in line for the proper functioning of the business so that it grows in all respects and achieves a name in the market space. In a developing country like India, where many start-ups dwell but are never able to sustain in the market, one of the major reasons for the downfall of many companies can be a failure in the administration of the business and its activities.
The dynamics and success factors are challenging to understand in different markets where the frequency of changing market demands is very high.
Business management deals with the management and handling of all business activities that include and pertain to customers, as well as the supervision and administration of the finance, accounting, and marketing aspects of a business.
It has emerged as one of the in-demand career options, competing with mainstream career prospects, such as engineering and medical.
Experts have stated that business management is the next big career option for career-oriented individuals with a keen interest in and passion for studying how businesses work in the real world and complex market situations.
Students curious for learning business administration and management, can opt for a dedicated business management as a serious career opportunity.
A person holding a degree in business management would mean a person has a broad understanding of specific business-related aspects, including marketing plans and strategies, account management customers, and business plans and strategies. Business management is a great option to explore for a high-paying job.
Let us get into the understanding of the skills, degrees, and jobs available for business management. But before that lets understand how business management and administration differ from one another.
Even to seasoned professionals, business management and business administration can seem like interchangeable terms. Both business managers and administrators ensure a company runs smoothly to meet financial goals and add value. However, there are subtle differences between these roles that involve distinct responsibilities and qualifications.
Business administration also focuses on the technical aspects of a business, such as operations, finances, sales, and marketing—the detailed workings of running a venture. As a result, business administrators often specialize in a specific field to acquire the core skills needed for that sector.
On the other hand, business management emphasizes organizing and managing an organization’s resources, including its talent. This role is more people-centric and relies heavily on soft skills. Business managers are excellent communicators, open to innovation, and leaders responsible for ensuring employee productivity. Skilled in critical thinking and problem-solving, they establish the company’s vision and work diligently to help the company meet and exceed expectations.
Now that you are familiar with how these two aspects differ let's get into understanding the skills required for business managers.
Owning a business is challenging, but managing people is even more demanding. A business manager must excel in basic skills like communication, critical thinking, and strategizing while also possessing a unique quality that sets them apart. Here's what that entails:
Empathy: As Harper Lee said, “You never really understand a person until you consider things from their point of view.” Business management involves understanding and motivating a diverse team. Empathy is crucial for truly understanding employees and implementing effective management strategies.
Accountability: A key duty of a business manager is to hold employees accountable for their mistakes and help them improve. This ensures organizational performance and shows a commitment to staff development. Consistency and feedback are vital for handling accountability effectively.
Negotiation and Conflict Resolution: Conflicts are inevitable in high-performing teams. A manager must resolve conflicts, facilitate collaboration, and maintain goodwill and respect for shared goals. Developing a strong managerial style aids in making mutually beneficial decisions.
Executive Presence: Often seen as an innate trait, executive presence can be cultivated. It involves inspiring confidence, commanding respect, and instilling self-esteem in the team. Attributes like eloquence, calmness, and keen perception are essential for building executive presence.
Scope for improving business knowledge and skills
It is important to ensure that critical decisions can be made correctly to run a successful business. Business management courses teach the skills required for handling decisions that are best suited for the organization. Such courses also teach how to predict the future based on current situations.
Networking opportunities with peers
Businesses are often required to meet industry experts as well as people who have knowledge of the fundamentals of business management. It is an excellent opportunity to meet such people, learn from their experience and knowledge, and enhance one’s business management acumen. Being acquainted with such people more than often leads to good opportunities.
Acquaintance with practical knowledge
Studying business management involves getting a taste of practical exposure to different aspects of business management in different fields, such as operations, economics, etc. This typically ensures that students can also adapt to any situation at hand and take the best decisions under any circumstances.
An ample number of good job opportunities
Having studied business management, one can obtain a job opportunity in any of the market niche. Business management courses provide mid-level and upper-level management positions in various sectors including banking, fashion, medicine, media, etc.
Learning Teamwork
For a business to work efficiently, teamwork is imperative. It is important that every team member co-ordinates with each other and contributes to the growth of the business. Such teamwork is necessary even when one is in a higher position. Thus, business management courses induce teamwork in an individual.
Managing people
Business management courses teach you to manage people by understanding their problems, issues, and grievances, motivating them to work better, and recognizing what each employee can deliver. These skills ensure efficient business operations and help achieve common goals.
Without a background in business management, filling higher-level positions in an organization becomes challenging. Thus, business management courses are crucial for career growth, creating prospects to become future business leaders and influential figures in the business world.
These courses also provide knowledge in various aspects of business, such as finance and operations. All these factors make business management courses extremely important and a viable career option with bright job opportunities in the future.
The competition in the market is fierce, and everyone is finding courses that can pave the way for a bright future with a good salary and one that creates an individual's identity in an organization.
To lead a business, you need a comprehensive knowledge base and a diverse skill set, along with the ability to integrate all the pieces. Cultivate a cross-functional perspective that enables you to lead with vision, craft a focused strategy, enhance organizational structures and processes, and make the difficult decisions that drive performance and sustain success.
Understanding the demand of the contemporary competitive job market, TalentSprint has partnered with leading management institutions of India, such as the IIMs to bring the bridge the gap between academia and industry with the business management courses. The courses focuses on building knowledge of the different business management functions.
In a fast-paced business environment, people must upskill themselves to grow professionally. With the rise of online courses, employed individuals can easily learn new skills and prepare themselves for additional responsibilities. TalentSprint offers a variety of courses for working professionals designed for different areas of specialization.
Credibility
Gaining credibility in your organization is crucial for career advancement. While regular reading and self-study are beneficial, obtaining a certification demonstrates your commitment to learning and professional growth. It also assures your organization that you have invested time and effort into acquiring new knowledge and skills.
Knowledge
Modern courses offer comprehensive, blended learning experiences that go beyond traditional reading. Utilizing technology, tools, new-age techniques, access to experts, and case studies, these courses provide a variety of methods to help you acquire new knowledge.
Opportunities
Choosing the right course can open up a world of opportunities, both locally and globally. Accredited courses are recognized in the market, giving you an edge over others and enabling you to apply for roles that can significantly boost your career, even if it requires relocating.
Network
Career growth is not only about acquiring knowledge but also about building a strong network. During a course, you form connections with peers and alumni, creating a virtual network that keeps you informed about market changes and new career opportunities. This network can play a crucial role in helping you apply for suitable roles in a timely manner.
Leadership: Business Management courses induce leadership qualities in students.
Teamwork: Understanding how to unite the team members and make them work together for achieving business-oriented goals.
Marketing skills: Business management courses help students think about innovative marketing strategies that help businesses grow rapidly.
Focusing on areas such as business and economics operations etc., graduates of business management courses are highly equipped with knowledge of handling business-managing employees and making them highly sought-after graduates in all sectors of the industry.
Graduates of these courses have gained employment in a wide range of sectors in the business world, such as marketing, sales, retail, etc.
Business management courses provide career opportunities in public and private sectors such as teaching and media, marketing and those people who built up their own businesses.
Companies from all sectors look for graduates with exceptional leadership qualities and regard them highly, offering them great salaries.
There are multiple domains you can land a job in after pursuing a business management course, such as:
Expertise and Experience
TalentSprint offers courses designed by industry experts with extensive experience and offered in association with leading educational institutions in India. Their curriculum is crafted to provide practical insights and up-to-date knowledge, ensuring you gain valuable skills that are directly applicable to real-world businesses.
Comprehensive Curriculum
The courses typically cover a wide range of topics essential for business management, from strategic planning and financial management to leadership and organizational behavior. This comprehensive approach ensures you are well-prepared to tackle various challenges in your career.
Blended Learning Approach
TalentSprint utilizes a blended learning approach, combining online modules, live sessions, and interactive case studies. This method enhances your learning experience, making it engaging and effective.
Access to Industry Leaders
Participants have the opportunity to learn from and interact with industry leaders and experts. This exposure provides valuable insights into real-world business scenarios and helps you build a strong professional network.
Career Advancement Opportunities
A certification from TalentSprint is well-regarded in the industry, opening up numerous career opportunities. The course not only enhances your knowledge and skills but also boosts your credibility, making you a more attractive candidate for advanced roles.
Flexible Learning Options
TalentSprint offers flexible learning schedules that cater to working professionals. You can balance your studies with your professional commitments, making it easier to pursue further education without sacrificing your job.
Choosing a Business Management course from TalentSprint equips you with the skills, knowledge, and network needed to accelerate your career and achieve your professional goals.
Nowadays, even institutions provide special guidance to students so that they can build their businesses at an early stage of their careers.
Moreover, business management courses help to build the personality of an individual that make a mark in front of all the greats of the industry.
These courses not only help to develop leadership skills but also lend a competitive edge in front of future employers.
Business management courses enable students to take up responsibilities and have a positive impact on their work. With team building skills, business management courses enhance the productivity of the business and offer stakeholders business profitability. The marketing skills of such business management graduates are impeccable.
Thus, viewing business management as a prospective career for students who want to pursue out-of-the-box careers and have relevant passion and skills can enter business management and pave the way for their bright future.
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5 Reasons to Opt for Business Management Courses
In an era where skill sets become obsolete in just a few years, many employees are scrambling to stay updated. Upgrading a business with the necessary tools, processes, and managerial competencies has become crucial in these times. Though the opportunities for professionals are increasing, the demand for skills and talent has also spiked.
It is natural for professionals to want constant career advancement. Business management is a perfect fit for professionals who want an enhanced career or a deep understanding of business management.
If the rate of change on the outside exceeds the rate of change on the inside, the end is near.
- Jack Welch [Former chairman and CEO of General Electric 1981-2001]
But why should you consider studying business management in the first place? Well, let’s find out.
Professionals usually hit a point in their careers when just their work experience is not enough for the way forward. It is not possible to become aware of every aspect of a field just by practical experience. Deregulation and liberalization of economies, rapidly changing industry structures, mergers, acquisitions & alliance formations to sustain growth, technological advances, privatization, changes in the consumer preferences and lifestyle are some things that can’t be grasped all at once with the current experience.
It is best to get a structured education and training, leading to competence enough to understand and contribute to the new challenges.
This Short Term Courses in Business Management is designed to give a broad, encompassing an overview of all sides of the business that will allow the participants to gain the understanding they need to achieve their respective growth goals.
Technology is evolving faster than ever. The vast application of these technologies is changing the landscape. Technologies like AI, Data sciences, machine learning and IoT (Internet of Things) has introduced entirely fresh processes that require people with the up to date skills.
As these technologies are re-inventing processes and creating new job roles, it is important for professionals to equip themselves with the necessary skills and tools to be competent enough.
Professionals usually build up plenty of experience in one aspect of the business, only to realize that they are notably lacking in other aspects. A professional having good experience in sales department ends up having minimal knowledge of any other department. In order to get promoted as upper management, it is important to have the knowledge and keen understanding of how all departments orchestrate among them.
It is indisputable that the value of practical knowledge is immense. It is very important to have hands-on knowledge about the work that a professional does. However, when they want to grow to higher levels of management, having a backdrop of theoretical understanding of the operations and processes ends up giving an extra edge.
The most powerful combination includes both practical and theoretical knowledge.
Learning key concepts in detail, working on ideation and understanding how current processes and technologies function gives you the necessary competence to make informed and productive decisions for the area of responsibility.
The current system of education has failed the youth of our nation. The system seems to be intellectually brilliant but it is nothing more than repetitive information and experience-less theoretical subjugation. It fails to evolve at the pace with which the industry, technology, and the market are evolving. This produces professionals who are not competent to contribute to modern day’s problems.
Business management can be one of the most challenging and rewarding career possibilities right now. Taking a business management course is a great option for making one competent and eligible for a wider range of possibilities.
TalentSprint’s Business Management courses focuses on bridging the gap between academia and industry by collaborating with renowned academic institutions.
| Offering College | Course name | Eligibility | Duration | Course Fee |
|---|---|---|---|---|
| IIM Calcutta | FinTech and Financial Blockchain | 50% marks in Bachelor’s or Master’s Relevant background and 5+ years of experience | 9-Month | ₹4,60,000 |
| IIM Calcutta | Digital Business Leadership | A minimum of 50% marks in Bachelor/Master’s degree 10 years of experience and an impactful career | 12-month | ₹6,20,000 |
| IIM Calcutta | Executive Programme in General Management | 50% marks in Bachelor’s/Master’s Minimum 1 year of experience | 12-month | ₹4,28,000 |
| IIM Lucknow | Executive General Management Programme | 50% marks in Bachelor’s/Master’s 2 years work experience | 11-month | ₹4,50,000 |
| IIM Calcutta | Education Leaders Programme | 50% marks in Bachelor's/Master’s degree 10 years of experience in the education sector 10 years of experience as a school principal or teacher | 9-month | ₹3,30,000 |
| IIM Udaipur | Senior Management Programme | 50% marks in Bachelors or Masters degree 10+ years of experience or 8+ years of experience with a Post Graduation | 12-month | ₹4,00,000 |
| NIBM | Advanced Programme in Digital Banking Leadership | 50% marks in Bachelors/Masters Minimum of 5 years of experience with a graduation | 6-month | ₹2,50,000 |
Business Management Courses offered by IIT Kanpur as e-Masters
| Course Name | Eligibility | Duration | Fees |
| e-Masters in Financial Technology and Management | Bachelor's/ Master’s degree in engineering, science, economics, or Computer Applications with at least 55% marks 2 years of work experience | 1-3 Years | ₹8,00,000 |
| e-Masters in Financial Analysis | Bachelor's/Master's in Engineering, Science, Economics, etc. (min. 55%) Minimum. 2 yrs experience (optional) Relevant experience & calculus preferred | 1-3 Years | ₹8,00,000 |
| e-Masters in Business Finance | Bachelor's/Master's in Engineering, Science, etc. (min. 55%) Minimum 2 yrs experience (optional) Relevant experience & calculus preferred | 1-3 Years | ₹8,00,000 |
| e-Masters in Public Policy | Bachelor's/Master's in relevant field (min. 55%) Minimum 2 yrs experience (optional) Relevant experience & calculus preferred | 1-3 Years | ₹8,00,000 |
| e-Masters in Sustainable Construction Practices and Project Management | Minimum 50% Marks in Bachelor's in Civil/Structural/Construction/Allied Engineering or Architecture 2 yrs experience (optional) | 1-3 Years | ₹8,00,000 |
These Business Management courses are designed to provide managers and professionals with a broader overview of the key concepts, techniques and tools required to meet the challenges of today’s global business landscape successfully. Different courses will give participants the knowledge needed to work cross-functionally within the organization and become more skilled in the basics of business management. On successful completion of the program, the participant receives a premier certificate from the respective top-tier institutions in India, such as IIT Kanpur, IIM Calcutta, IISc Udaipur, and many more recognized institutions.
The courses offered in association with TalentSprint is designed to address the challenges of today. It is what bridges the gap that the older system of education failed to do. Thats not all. It bridges the gap between academia and industry by partnering with renowned academic institutions. The courses are designed especially for executives or working professionals, and the course of business management studies is aimed to enhance the skill and competence of an individual. It involves forming strong collaborations, aligning program content with industry needs, and creating practical learning experiences that allow learners to apply their knowledge effectively.
Business Management or Business Administration – The never-ending confusion
The confusion has been ever-evolving when it comes to selecting either a business management course or a business administration course for a budding entrepreneur. Multiple factors add to the confusion since, but in real life, these are pretty similar. Their indistinguishable tasks and responsibilities only make it more challenging. Sometimes business administration & business management are defined in a way that the former one is associated with clerical functions while the latter one is more about decision making – but it entirely depends on an organization to define these two, unless then, they remain the same.
The degrees in both these areas add value to your educational qualification if you’re looking for a career in business. This is because both the courses are designed with specialization areas which focus on specific niches of study. Both are equally good foundations. The only difference is, if you’re more focused on the area of work, then a Bachelor of Business Administration (BBA) offers better specialization while a Bachelor of Business Management is more generic, guiding you through all the aspects of business. In both segments, you will discover the significance of leadership in running any organization efficiently.
Let’s understand each of these in detail, including their unique features, utility, and practical life scenarios.
Business Administration – An independent leader of business
It focuses on narrowed pathways of business studies with specialization in areas like marketing, finance, accounting, human resources, etc. Before the actual selection, a student learns an outline of all these as part of the curriculum to understand his passion. These electives are then adorned with hands-on experience with a project, without which they cannot get their graduation degrees. The course focuses on effective communication, thereby empowering candidates to be more self-reliant and confident.
Business Management – A complete package to meet all organizational goals
With a broader perspective, this course covers all the aspects of business with equal attention. If a student is not sure about specialization, this is the course for them since it doesn’t necessarily pressure her/him into choosing a core topic. It focuses more on verifiable aspects of business like planning, organizing, implementing and managing activities, which makes them industry-ready. Equal emphasis is given to softer skills like leadership, communication, negotiation, etc., to empower every student.
In a nutshell, if we put both of these courses in a proper perspective, it would be right to say that business administration is involved in significant decision-making functions and brainstorming where the major decisions of an enterprise as a whole are taken. In contrast, business management professionals are expected to execute these decisions effectively within the framework set by the administration. The core functions of planning and organizing rest in the hands of the administration, whereas those of controlling and motivating remain with the management. This makes it very clear that administration refers to the top level of authority, which handles all the business aspects. In contrast, management refers to middle-level activities and is responsible for handling employees.
Most often, business administration and business management are used reciprocatively, creating more dilemmas. However, it would be useful to understand that every organization will have a defined set of roles for each of these. So, while choosing a course, it is of prime importance that the candidate looks into the areas of learning deeply to avoid glitches in the future. After all, it is a question of a young entrepreneur’s entire career.
Business Management vs. Business Administration: Which is right for you?
A Business Management course is right for you, if:
Business Administration might be the right fit for you, if:
TalentSprint, a global edtech company, brings transformational business management programs exclusively designed for busy professionals like you, empowering mid-to-senior executives, aspiring managers, and leaders to become the CXOs of tomorrow. Develop the leadership skills you need to drive business excellence. Enroll today and take your career to the next level.
5 Key Management Lessons to Learn From Ramayana for Working Professionals
Indian epics Ramayana and Mahabharata are culturally rich and educational when it comes to analyzing human behavior. Ramayana highlights the qualities required to uphold the dharma of one's duty to undertake actions. Each character has been etched as a representative of a unique takeaway. Incidentally, the learnings from Ramayana are universal in approach and can be assimilated into the professional aspects of everyone's life.
Key lessons professionals can imbibe in spirit and action.
A true leader is someone who fosters future leaders. This is important to carry the business forward. Through constant encouragement and mentoring, a leader can truly bring out the best in others. Lord Ram believed in the power of Hanuman and each general of Sugriva's army. As a result, each of them could, in their way, contribute to the defeat of the mighty Ravana. Within organizations, leaders need to identify potential leaders and offer them the ground to take action in the same way Ram offered complete freedom to Hanuman to take charge of certain fronts of the epic battle.
The success of every endeavour depends on planning, which involves each team member in the decision-making process. Whether it was the battleground or the governance of Ayodhya, Lord Ram involved everyone as a team in the decision-making process. When it came to battle, he entrusted each of the ape generals with specific responsibilities based on their core competency.
For example, Naal and Nil were excellent builders, and therefore, they were entrusted with the task of building the bridge for Lanka. When it came to the governance of the kingdom of Ayodhya, he entrusted each of his brothers depending on their proven capabilities. When every person is respected as capable and involved in matters of importance, he or she feels responsible as a stakeholder, thereby contributing immense value.
With all the smart gadgets around, there are communication gaps within the daily operational framework. Leaders, and kings back in the days over came these challenges and communicated with speed and efficiency. Communicating effectively and is a temperament and attitude.
For example, in Ramayana - Bali instructed Sugriva to stay outside the cave and keep a watch while he went to battle a fierce demon, Mayavee. After waiting for a year, Sugriva grew impatient and on seeing traces of blood coming out of the cave he took Bali to be dead. Without waiting, he went back to the kingdom and announced Bali's death and assumed charge of the kingdom. Incidentally, Bali returned and witnessed Sugriva's action as a sign of betrayal. Even Sugriva failed to communicate the reasons behind his actions. This lack of communication created a huge rift between the two brothers. So, one can safely take away the lesson that without effective communication, an organization cannot function effectively.
Businesses thrive on networking and therefore, it is critical to etch meaningful alliances and partnerships that are value-creating to both the parties. In Ramayana, Ram allies with Sugriva. Ram defeated Bali in a battle and helped Sugriva to get back his kingdom. In return, Sugriva helped Ram with his resourceful army to fight Ravana and get to Sita.
Ram is also known as Maryada-Purushottam because of his strict adherence to compliances and established code of conduct during those times. He never sacrificed ethics to win credibility rather he chose the other way round. Even during the battle with Ravana, he chose to challenge Ravan head-on rather than resorting to tricks. On one occasion when Ram completely disarmed Ravana, he was allowed to leave the battlefield safely. Such was the spirit of Ram. Leaders, too, in organizations, in times of distress, must display great strength in terms of remaining compliant while innovatively figuring out solutions to difficult problems.
The Ramayana, a cornerstone of Indian epics, offers more than just spiritual and cultural depth. It's a treasure trove of management wisdom. Its stories hold timeless strategies, leadership principles, and ethical compasses that surprisingly align with modern practices. From duty and integrity to strategic planning, the Ramayana provides valuable lessons for today's leaders, proving that ancient wisdom can be a powerful tool in navigating the complexities of contemporary business.
This is just the tip of the iceberg, but the Ramayana has a great depth that can only be understood by reading it with a spirit of learning. Seeking to learn is one of the great attributes of a great leader, whether in corporate or personal life.
Integrating the teachings of the Ramayana into management courses can provide a unique and holistic approach to leadership and organizational behavior. By examining the epic's characters and their decisions, students can learn about effective leadership, conflict resolution, and ethical decision-making. Courses can incorporate case studies to illustrate concepts such as strategic planning and team dynamics, enriching the learning experience with cultural depth and timeless wisdom. This fusion of ancient narratives with modern management theories can cultivate well-rounded, insightful leaders equipped to tackle contemporary challenges.
The variety of management courses offered by TalentSprint in association with prestigious Indian institutions is an excellent choice for working professionals looking to expand their skills in a new domain. Tailored for busy schedules, these programs offer flexible, high-impact learning through live interactive sessions, hands-on projects, and guidance from industry experts. With a curriculum designed to address real-world challenges and emerging trends, TalentSprint equips learners with the knowledge and tools needed to excel in today's competitive landscape. Whether you aim to advance in your current role or transition to a new field, these courses provide the practical skills and strategic insights essential for career growth and success.
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