Introduction to Fundamentals of Business Management
The world of business management offers an array of career opportunities unparalleled among income earning possibilities. Industries from mining to waste disposal have management-level positions in many companies. Business management requires a combination of skills and knowledge, coupled with good judgment and leadership qualities. There are several fundamental aspects of operating a business – whether you run your own small business or hold a management position in a national corporation – that a manager should be aware of. Our course takes you through some of the various requirements you may encounter while managing a business.
We begin by examining the various disciplines and levels in business management and give you hints on how to get a management job in your company. In lesson 2 we cover areas of financial management such as types of capital, debt and equity financing alternatives, a business plan and a budget. Lesson 3 deals with legal and regulatory compliance issues. Human resources and personnel issues are discussed in Lesson 4.
Sales management fundamentals – the sales cycle, customer relationships and pricing – make up lesson 5. We examine the marketing functions (lesson 6) right after sales functions because the two disciplines work hand-in-hand to drive business. Lesson 7 covers some key accounting principles and practices. Inventory control techniques make up Lesson 8, focusing on the role of inventory control, the processes involved and control mechanisms used.
Lesson 9 "Taxes and Your Business Organization" delves into types of organization and some key business tax requirements. Order fulfillment follows the purchase from sales inquiry to delivery in Lesson 10, and explains how fulfillment is important to customer relationships. We finish with lesson 11 explaining the importance and function of information technology. Once completed, you will have a basic understanding of how to manage a business.