About Business and Management
Business & Management encompass a wide range of activities, roles and disciplines aimed at organizing, planning, directing, and controlling resources (human, financial, physical, and informational) to achieve organizational goals effectively and efficiently.
Here are some key activities related to business and management:
Strategic Planning
This involves setting long-term objectives, determining strategies to achieve those objectives, and allocating resources accordingly.
Organizational Structure
Businesses typically have a hierarchical structure defining roles, responsibilities, and reporting relationships.
Leadership and Management
Effective leadership involves inspiring and motivating employees, while management focuses on planning, organizing, and controlling resources to achieve specific objectives.
Human Resource Management
This includes recruitment, selection, training, performance evaluation, compensation, and employee relations.
Financial Management
Managing finances involves budgeting, forecasting, financial reporting, investment decisions, and managing cash flow.
Marketing and Sales
Businesses need to identify and understand customer needs, develop products or services to meet those needs, and effectively promote and sell them in the market.
Operations Management
This involves designing, managing, and improving processes to produce goods and services efficiently while maintaining quality.
Entrepreneurship
Entrepreneurship involves identifying opportunities, taking risks, and creating new ventures or products.
Ethics and Corporate Social Responsibility (CSR)
Businesses are increasingly expected to operate ethically and contribute positively to society and the environment.
Technology and Innovation
Leveraging technology and fostering innovation are crucial for businesses to stay competitive and adapt to changing market conditions.
Risk Management
Businesses need to identify, assess, and mitigate various risks, including financial, operational, legal, and reputational risks.
Globalization
Businesses are increasingly operating in a global context, facing challenges and opportunities related to international trade, cultural differences, and diverse regulatory environments.
Understanding and effectively managing these aspects are essential for the success and sustainability of any business enterprise. Additionally, continuous learning and adaptation to evolving trends and technologies are vital for staying competitive in today’s dynamic business environment.
Employment Perspectives
Professionals who specialize in business and management can be hired by a variety of organizations and entities across different industries and business sectors. Some common business sectors and type of companies include:
Finance and Banking
Sector encompassing banks, credit unions, investment firms, insurance companies, and other financial institutions.
Retail and Consumer Goods
Sector encompassing retailers, wholesalers, e-commerce companies, and manufacturers of consumer products.
Technology and Information Services
Sector encompassing technology companies, software developers, hardware manufacturers, telecommunications providers, and IT service providers.
Healthcare and Pharmaceuticals
Sector encompassing healthcare providers, pharmaceutical companies, biotechnology firms, medical device manufacturers, and healthcare technology companies.
Manufacturing and Industrial
Sector encompassing manufacturers of automobiles, machinery, equipment, chemicals, aerospace products, and other industrial goods.
Hospitality and Tourism
Sector encompassing hotels, restaurants, airlines, cruise lines, travel agencies, and tourism destinations.
Real Estate and Property Management
Sector encompassing real estate developers, property management companies, REITs, and real estate agencies.
Energy and Utilities
Sector encompassing companies involved in the production, distribution, and supply of energy resources such as oil, gas, electricity, renewable energy, and utilities services.
Professional Services
Sector encompassing consulting firms, legal services, accounting firms, marketing agencies, advertising agencies, and other professional service providers.
Transportation and Logistics
Sector encompassing transportation companies, logistics providers, shipping companies, freight forwarders, and supply chain management firms.
Potential Career Paths
Careers in business encompass a very wide range of roles and industries, spanning from entrepreneurship and startups to established corporations and multinational companies.
Here are some common career paths in business:
Entrepreneurship
Entrepreneurs start and run their own businesses, taking on the risks and rewards of creating innovative products or services. Entrepreneurial careers involve identifying opportunities, developing business plans, securing funding, managing operations, and growing the business.
Management Consulting
Management consultants provide strategic advice and solutions to businesses to help them improve performance, solve problems, and achieve their goals. Consultants may work for large consulting firms or as independent contractors, serving clients across various industries.
Finance and Investment Banking
Careers in finance involve managing financial assets, analyzing investments, and providing financial advice to businesses and individuals. Finance professionals may work in investment banking, asset management, financial planning, corporate finance, or other areas of finance.
Marketing and Advertising
Marketing professionals develop and implement strategies to promote products or services, attract customers, and drive sales. Careers in marketing and advertising involve market research, branding, advertising campaigns, digital marketing, social media management, and customer engagement.
Human Resources (HR)
HR professionals manage the recruitment, training, compensation, and employee relations within organizations. Careers in HR involve talent acquisition, performance management, employee development, diversity and inclusion, and HR strategy.
Operations and Supply Chain Management
Operations managers oversee the production, distribution, and delivery of goods and services within organizations. Supply chain managers manage the flow of materials, information, and resources from suppliers to customers, optimizing efficiency and reducing costs.
Sales and Business Development
Sales professionals are responsible for selling products or services to customers and clients. Business development professionals identify new business opportunities, partnerships, and markets to expand the company’s reach and revenue.
Information Technology (IT) and Technology Management
Careers in IT involve managing technology systems, infrastructure, and software to support business operations and objectives. Technology managers oversee IT projects, cybersecurity, data management, and digital transformation initiatives within organizations.
Corporate Strategy and Business Analysis
Corporate strategists develop long-term plans and objectives for businesses, analyzing market trends, competitive landscapes, and internal capabilities to drive growth and profitability. Business analysts analyze data and metrics to identify insights, trends, and opportunities for improvement within organizations.
International Business and Global Management
Careers in international business involve managing operations, partnerships, and expansion efforts across global markets. Global managers oversee international business strategies, cross-cultural communication, and global supply chains to ensure success in diverse geographic regions.
These are just a few examples of the diverse career paths available in business. Depending on individual interests, skills, and aspirations, professionals in business may pursue roles in various industries, including finance, technology, healthcare, retail, manufacturing, hospitality, and many others.
Work Placements
Professional experience is invaluable and that is a fact. Especially for hands-on subject areas like business management and even more so for recent graduates. Having over one year of work experience at the point of their graduation gives our students a massive advantage compared to other graduates who have limited or no experience, making them a top choice for employers worldwide.
The work placements we provide to our students during their time with us come in different forms and shapes, including internships, part-time/full-time jobs, project-based opportunities, shadowing experiences, management trainee programs, and others. Here is the placement structure and progression for our business programmes:
1st Year of study
Trainee role
Work Immersion opportunities or 1st placement
- Projects
- Internships
- Part-time
- Full-time jobs
2nd year of study
Industry Placement
2nd Placement or continuation of previous Work Immersion
- Internships
- Projects-based jobs
- Part-time
- Full-time jobs
3rd year of study
Entry level employment
3rd Placement or continuation of previous placements with full-time employment.
4th year of study - Master
Working Professional
Career path continuation or switch to a new role/company
Or
1 year Business Internship in the USA.