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Business, Accounting, Finance, and Management

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[Butterfly - JEFFREY GLASSBERG]

 

 

EGO = 1 / KNOWLEDGE


More the Knowledge, lesser the Ego,

Lesser the Knowledge, more the Ego.

 

- Overview

Business and management are managing the coordination and organization of business activities. This typically includes the production of materials, money, and machines, and involves both innovation and marketing. Management is in charge of planning, organizing, directing, and controlling the business's resources so they can meet the objectives of the policy.

As a business manager, you are given the major responsibility of managing administrative tasks for a business. A company may expect you to assist with its marketing program. A company may also want you to perform a budget analysis in order to find out ways that the company can cut costs. You should have an astute understanding of accounting, marketing and administrative procedures that are required in order to run a business.

 

- Business and Management Research

Business and management research is a systematic inquiry that helps to solve business problems and contributes to management knowledge. It Is an applied research. Ever wondered what it takes to build a flourishing business? Aiming to provide maximum sales and profit, business research helps you to gather comprehensive information pertaining to your business and accordingly making relevant changes if required. 

So, in this process of being successful, we gather all types of data in order to better define our strategies and understand what products or services customers really want. And in case, you’re planning to expand your business, research can help you determine your odds of positive results. 

 

- Business Management System

Business Management System (BMS) is a toolset that's used for tactical implementation and strategic planning of practices, processes, policies, guidelines, and procedures to use in the deployment, execution, and development of business strategies and plans, as well as any associated management activities. They provide a foundation for both tactical and strategic business decisions when it comes to current processes, tasks, activities, and procedures with the goal of meeting all objectives an organization has and satisfying the customer expectations and needs.  

The main idea of Business Management System is to give management the tools for monitoring, planning, and controlling their activities and measure the performance of a business. They also aim to put into effect continuous improvement processes in the company. This system finds the principles of the organization's existence and is linked closely to business success criteria. It is a multi-level hierarchy of different business solutions that show how an organization that's profit-oriented will perform different functions, such as marketing, sales, staffing, and purchasing to complete a task successfully.

 

- Managing Technology and Innovation

Management of innovation and technology is of particular importance right now. Questions about R&D, strategy and business models, and innovation are very important both from a theoretical and managerial point of view. 

What’s driving demand? Rapid and continuing change. “The world has changed so much and is evolving so quickly with new questions emerging all the time. The continuing rapid developments in social technologies that have revolutionized marketing, communications and organizational relationships make these topics vital.

The management of technological innovation is both an art, as well as a science; the process involves the know-how and technological core skills to deliver the functionality on the one hand, and (with an ear on the ground) the ability to identify changes in technologies to come up with new innovations on the other. This requires, as a result, frameworks, system tools, and methodologies to improve the yield in innovations.

 

- Education,  Sustainable Development, and Resources Management

Energy management, water management, and sustainable development are all identified among the great ‘macro’ themes of the century. Without solving these issues in the short term, life on Earth may become seriously jeopardized, or at least unpredictably complex. 

Education for Sustainable Development (ESD) empowers learners of all ages with the knowledge, skills, values and attitudes to address the interconnected global challenges we are facing, including climate change, environmental degradation, loss of biodiversity, poverty and inequality. Learning must prepare students and learners of all ages to find solutions for the challenges of today and the future. Education should be transformative and allow us to make informed decisions and take individual and collective action to change our societies and care for the planet.

 
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[Mountain Cabin - Aventouuro]

- Social Entrepreneurship

Social entrepreneurship is the process by which individuals, startups and entrepreneurs develop and fund solutions that directly address social issues. A social entrepreneur, therefore, is a person who explores business opportunities that have a positive impact on their community, in society or the world.

One example of social entrepreneurship is microfinance institutions. These institutions provide banking services to unemployed or low-income individuals or groups who otherwise would have no other access to financial services. Other examples of social entrepreneurship include educational programs, providing banking services in underserved areas, and helping children orphaned by epidemic disease. All of these efforts are intended to address unmet needs within communities that have been overlooked or not granted access to services, products, or base essentials available in more developed communities.

 

- Corporate Responsibility, Ethics and Accountability

Today, it’s not enough for companies to make a profit. We also expect managers to make a profit by doing the right things. Unfortunately, no matter what managers decide to do, someone or some group will be unhappy with the outcome. Managers don’t have the luxury of choosing theoretically optimal, win-win solutions that are obviously desirable to everyone involved.  

In practice, solutions to ethical and social responsibility problems aren’t optimal. Often, managers must be satisfied with a solution that just makes do or does the least harm. Ethics is the set of moral principles or values that defines right and wrong for a person or group. Workplace deviance is unethical behavior that violates organizational norms about right and wrong. Ethical behavior follows accepted principles of right and wrong. 

Companies are putting more emphasis on ethical decision making. They now provide ethics training, including ethical conduct as a standard part of performance evaluations, communicating internally about disciplinary actions that are taken when unethical behavior occurs.

 

- Deviance

Company-related deviance can affect both tangible and intangible assets. One kind of workplace deviance, called production deviance, hurts the quality and quantity of work produced. Examples include leaving early, taking excessively long work breaks, intentionally working slower, or wasting resources. Property deviance is unethical behavior aimed at company property or products. Examples include sabotaging, stealing, or damaging equipment or products, and overcharging for services and then pocketing the difference. 

Political deviance is using one’s influence to harm others in the company. Examples include making decisions based on favoritism rather than performance, spreading rumors about coworkers, or blaming others for mistakes they didn’t make. Personal aggression is hostile or aggressive behavior toward others. Examples include sexual harassment, verbal abuse, stealing from coworkers, or personally threatening coworkers.

 

- Accounting and Finance

Finance is the management of money and investments for individuals, corporations, and governments. Finance professionals work in careers such as investment banking, wealth management, and financial planning and analysis (FP&A). Whether these professionals work on behalf of individuals or businesses, they are responsible for ensuring that there is adequate funding (capital) for the needs of the situation and that the funds are allocated as optimally as possible. Their job is to create value by managing capital in a way that earns higher than expected risk-adjusted returns. 

Accounting is the recording, maintaining, and reporting of a company’s financial records. Accounting professionals work for individuals, in-house at corporations, or on behalf of other businesses at a public accounting firm (such as the Big Four). These professionals are responsible for ensuring that all financial transactio 

 
 
 
 

[More to come ...]

 

 

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