It is all about money (funds), how accomplish objectives of organization to efficient and effective management.
Key goals: planning, organizing, directing and controlling the financial activities and financial resources
- Estimation of capital requirements
- Firmness of purpose of capital composition
- Sources of funds (Issue of shares & debentures, Loan, Public deposit)
- Investment of funds
- Surplus profits (Dividend)
- Management of Cash
- Plan, procure, utilize and control the funds
Human Resource Management
- Management of human resources. It is essential part of any business/organization. His/her duty to finding the right people, with the right abilities at the right time to work. HRM focusing on implementation of policies and processes.
- Basic functions
- Staffing (recruitment and selection of potential employees)
- Training and development
- motivation (key to keeping employees highly productive, benefits, performance,Ï appraisals and rewards.)
- maintenance (employee's commitment and loyalty to the organization)
Logistics and Operations Management
It is also known as "Supply Chain & Analytics department".
- Logistics management is used to meet customer demands through the planning, control, customer requirements and implementation of the effective movement and storage of related information, goods and services between the point of origin and the point of consumption.
- Operations management refers administration of business practices to create the highest level of efficiency possible, that concerned with converting materials and labor into goods and services as possible to maximize the profit (to balance costs with revenue).A critical function of operations management relates to the management of inventory through the supply chain
- Operations management knows local and global trends, customer demand and the available resources for production
- Operations management is responsible for finding vendors that supply the appropriate goods at reasonable prices and have the ability to deliver the product when needed.
Management Information System
MIS is a computerized database of financial information and programmed in such a way generate regular reports on each operations for every level of management. Show Details
International Business Management
International management needs knowledge and skills above and beyond normal business expertise, including specialized in such as international marketing, finance and human resource management.
- Practice – from accounting and economics to marketing, operations and organisational behaviour
- Face-to-face with the challenges of managing people, finances, operations and customers.
- Control business interests across cultural and national boundaries
- Understanding interactions and interdependency of people
Critical Thinking and Problem Solving
Critical Thinking is thinking that assesses itself, ability to think about one's thinking in such a way as
- recognize its strengths and weaknesses as results
- recast the thinking in improved form
Characteristics of Critical Thinking
- Dispositions (look at different points of view, and will change positions when reason leads them to do so.)
- Criteria (To think critically, must apply criteria.)
- Argument (Involves identifying, evaluating, and constructing arguments)
- Reasoning (Ability to infer a conclusion from one or multiple premises)
- Point of View (In a search for understanding, critical thinkers view phenomena from many different points of view)
- Procedures for Applying Criteria (include asking questions, making judgments, and identifying assumptions)
Team building is a collective term for various types of activities used to enhance social relations and define roles within teams, often involving collaborative tasks, is distinct from team training.
Team building is one of the foundations of organizational development that can be applied to groups.
- aligning around goals
- building effective working relationships
- reducing team members' role ambiguity
- finding solutions to team problems Approaches:
- Setting Goals (identify ways to define success and failure and achieve goals.)
- Role clarification (understanding of their own and others' respective roles and duties.)
- Problem solving (emphasizes identifying major problems within the team and working together to find solutions)
- Interpersonal-relations (increasing teamwork skills such as giving and receiving support, communication and sharing)
Strategic Business Decision Making
Strategic decision making is an ongoing process that involves create strategies to achieve goals and alter strategies based on observed outcomes,decision-making takes place at every level. Decisions involve a high degree of uncertainty and risk, but a good strategy can help reduce that risk.
Types of Analysis:
- SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
- common strategic planning tool that managers can use to examine internal and external factors that may influence the ability to achieve goals.
- Intuitive Analysis
- quick decisions based on a gut feeling or intuition, most of decisions without all the data needed, you have to trust your instincts.
- Systematic Analysis
- Systematic analysis involves collecting as much information as possible and analyzing it in an ordered and logical way to find the best option. (Totaly opposite side of Intuitive Analysis)
- Principle Based Decision Making
- Not widely used, relies on personal beliefs and principles such as ethics. Unlike ethical or moral decision-making, the principles used may be unethical or may lead to unethical outcomes.
- Strategic Decision Making
- Strategic decisions are major decisions that concern the direction of the company as a whole, include new products, mergers, strategic alliances; usually handled by the CEO, president or board of directors or who had power
- Covered real-life scenarios, business problems and issues
- Fundamental concepts of project success
- Competence in the principles and practices of business analysis
- Recognition of professional competence by professional peers and management
- Developing business ideas to expand business
Financial Accounting and Analysis
- Introduction of basic concepts of finance
- How to create and analyse annual financial report
- Financial modelling training
- Analysis of financial statements
- Deep understanding of working capital on cash flow
- Create a practical concepts for building plan and control of marketing communication programs
- Know-how to plan, implement and monitor marketing strategy
- Understanding psychological aspects of customer's behaviour
- Analysis, planning and implementation of marketing strategies
- How to build up relationships in marketing
- How should be Leadership styles in organization
- How to manage stress in workplace
- How to resolve conflicts and dilemma in organization's problems
- Management of organizational culture to motivate employees
- Regulations and ethics in organization