Business Management the Power to Excel

Author: harish142 | Posted: 12.01.2012

At first transaction started with barter that is give and take policy for necessary item without any money being involved in the transaction but only physical exchange of goods. Gradually it transformed according to the modernization of the society and civilization. Till then it was a simple method where you exchange with others for those which you are in need. This practice was prevalent for sometime but existence of money made it extinct. This made a passage for something unique and which should had some usefulness too. With increasing demand for the resources people started a new affair where products were sold in exchange of money and this got termed as “business”. Meaning of business is “State of Being Busy” and it includes activities which assist you to earn money and have a good living. Thus, business came in to existence and became an essential part of the modern era.

Having a business does not allow you to be rich or wealthy. To operate it perfectly with far sightedness is essential to get wealthy. People realized the necessity of a better management for any kind of businesses and thus an open and vast field of business management got bloomed. Great Depression and Industrial Revolution made it more demanding as the economies got collapsed then and there was an acute demand for money and better plan to redesign the nation’s economy and to develop the standard of living. Business is not limited to personal level only it has his own dimensions. Businesses can be state owned or non profitable which is also required to be managed. Big business houses made it important to raise a better management system to seal any risk involved.

Efficient and effective operation of a business can be termed as a good management. It is required to develop, nurture and to adapt with challenges, fair practices and profitability of the business. Field of management interprets about the working and understanding of a solid foundation to run a successful business. So scholars like Henry Fayol, Adam Smith and J. Duncan contributed for the development of management science as an integral part of education. Planning, organizing, staffing and leading an organization is the major element of management which is required to be studied and now almost all the educational institutes provides the same to the student from degree level itself. Better understanding of management at college level itself helps students to groom properly to adapt to the nature of management and also gives an opportunity to become a successful entrepreneur and efficient manager. It not only assists in business or at work but also develops the skills to lead a jolly life as management inputs good decision making abilities in a person.

At undergraduate level study of business management is termed as Major in Business Administration which caters to the development of business skills and knowledge. Getting acquainted with the basics help to make the foundation strong and thus it can be continued later at higher level with an MBA degree also. It is the need of the day and it has become a common factor to grow the ladders of success these days. The history of masters in business dates back to year 1921 when Harvard Business School offered it for the first time. Since then business administration took an immense shape and has contributed a lot for the development of society and economy as a whole.

Masters in business develops the clear understanding of all the fields of business including: Marketing, Finance, Management, International Business and Human Resource. It enables the student to get hold of good positions in corporate level as well as in their own line of business. As the science of management got categorized through structured learning activities the study of this field became easy. Moreover without it global economy will be less vibrant and it will slope downward. Students who want to gain managerial insights and exceptional leadership skills, for them master degree in management is must. Focus and dedication will definitely liquefy the challenges and pressure of learning and after completion it will help to succeed a better life. It is not what others imply on you it is just what you want to do and if your call is business administration then definitely you have a blooming career magnificent life ahead.



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