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whats the most important step in doing business management?

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business management
Thank you comment icon Carmyn, I have found that having Project Management Skills is an important method of organizing a business managment activity. It helps to define th scope, timeline, critical path and resouces necessary for a successful out come . Janice Tobin
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Jekaterina’s Answer

Based on my personal experience there are multiple components that will be important to take a look at throughout your journey. My top 3 would be:

  1. Manage your workload by prioritizing what is critical based on your goals as well as your department/team goals and your OKRs (Objectives and Key Results). Pay attention to the areas where you can generate tangible impact and focus on those. Throughout my journey I noticed that even with the best efforts to support, without ruthless prioritization you can burn out. Determination between Urgency and Importance is helpful - there is a great chapter on this in Stephen Covey's book '7 habits of highly effective people'
  2. Constantly learn and own your development journey. In our information age it's important to keep learning even after wrapping up with your degree. Industries are continuously changing and if you want to succeed it's extremely important to look ahead and stay in line with new trends. Be sure to be proactive about your development, seek for advice, mentorship opportunities, get insights from your manager, peers or colleagues to see how to succeed further.
  3. Build relationships with your stakeholders continuously, set expectations and communicate clearly.

Wish you best of luck in your journey in business management!

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Le’s Answer

In practice, customer is most important in doing business. They are the root of survival in business. Whatever you do well in terms of marketing, business strategy, resource management and so on, you cannot get profit if you lose the sight of who is your target customer, who will buy your products or use your service. However, we cannot say that is the most important without other determinants. We cannot do business management with only one most important factor. It will never happen in a real life.

Le recommends the following next steps:

Think about what customers need and what you have to do business management. If they are match, make a move.
Find some case study about business management, and check which theory you are studying or should focus on. Studying from practical cases at the beginning will lead you what the next step in your mind is.
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Saurabh’s Answer

It depends on why you wish to pursue the MBA course. Some individuals think it best to get an MBA for a thorough knowledge from the basics in business streams. Some others start working and then realise that they must switch fields so they pursue executive course for working professionals from ITM Institute.
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