Step into Managing a Business

Step into Managing a Business

Step into Managing a Business
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Business management is a great option if you are looking for a career that will take you into interesting organisations, give you a ‘no-two-days-the-same’ lifestyle, and even prepare you for entrepreneurship. The basics skills of business management, business planning, business development, accounting fundamentals and project management are all transferable skills that will take you from industry to industry, from state to state and even, as more work takes place in the cloud, to your home office. The big trends in business management are always changing, with home working, a millennial leadership demographic and collaborative management styles taking the forefront across 2016 and 2017, it will be interesting to see where this dynamic and exciting career takes those motivated enough to undertake some of the many available online training opportunities that online management courses and project management courses offer. 

Business Management 101

If you are working in a supervisorial or team leadership role, you have already taken your first step into business management. Your daily tasks will now touch on the basics such as business planning and accounting fundamentals. Whether you have some previous business management experience or not, a great way to get a strong introduction to managing a business is to sign up for an online Certificate level course. Our Certificate IV in Leadership Management (BSB42015) is a great example of a base-line business management course and suitable for those interested in qualified roles such as leading hand, supervisor and team leader. During this course, you will cover units that will help you to improve your working practice and hone your leadership skills. These will include: 

  • Addressing customer needs
  • Implementing an operational plan
  • Identifying risk 

At Upskilled we are often asked what the personal qualities are for successful business managers. These are varied but the good news is that they are all transferable attributes that, once developed, you can take from career to career. Take a look at the list below and remember that, if you feel you are lacking in any specific area, our business management courses have been designed to hone these skills as well as the more theoretical ones. They do this both through working with you in your employment situation and facilitating specific units of study. Take a look at the examples of skills and related units below: 

  • Robust decision makers (Unit – Show leadership in the workplace)
  • Motivated and motivating – (Unit – Lead effective workplace relationships)
  • Good at multi-tasking – (Unit - Develop work priorities)
  • Great communicators (Unit – Communicate effectively as a workplace leader)
  • Strong leaders (Unit – Lead team effectiveness) 

Business management is a broad term, which in fact, covers a set of more specific skills. The key to effective business management training is this relationship between practically developing yourself as a leader and understanding of when and where management theory can support you in your role. In the sections below, we look at how Upskilled’s range of online business management courses have been designed to cover all of the business management training basics.

 

Startup planning session

Business Planning

Business planning is the formalised process of setting company objectives. A sound business plan will focus firstly on profit but also on mitigating financial and other risks. Once a business plan has been established, your responsibility as a business manager should be to make business decisions based on this plan. Business planning impacts on a variety of aspects, including marketing, supply chain management and finance, and a formal business plan can be used to tell stakeholders and possible investors all they need to know about an organisation. There are many different types of business plans, including: 

  • Start-Up (the necessary steps to set up a new business)
  • Feasibility (an investigation into the possibilities surrounding a new idea)
  • Growth (a proposal for growth with related investment requirements) 

There are also many different business-planning theories, some of which can be confusing. This is where online training can step in and provide the necessary knowledge and experience to help managers through the business planning process. Upskilled’s Advanced Diploma of Leadership and Management (BSB61015) has been designed for those with existing management experience who wish to step up to department, regional or area management. Although business planning has implications across the gamut of business management, this Advanced Diploma provides two specific business planning related units: 

  • Develop and implement a business plan
  • Develop and implement strategic plans 

Most business management interviews will include a question on business planning experience and understanding. By covering both the theory and practice of these through an online business management course, you will be demonstrating your ability to take on the challenge of business planning.

 

Understanding accounting

Accounting Fundamentals

One aspect of business management that many leaders find more difficult to grasp are some of the accounting fundamentals that have such a strong influence on decision-making processes. Most business management courses have a financial element to them. For example, Upskilled’s Graduate Diploma of Strategic Leadership (BSB80215), aimed at those with higher-end management ambitions, includes a unit on using financial and economic information for strategic decision-making. However, it is at the Business Management 101 level that accounting fundamentals really need to be grasped. Upskilled’s Certificate IV in Accounting gives a wealth of accounting basics, all of which will help the budding business manager understand and make successful decisions based on financial reports, payroll systems and complex spreadsheets.

 

Project management is a very important business skill

Project Management Courses

Project management courses differ from business management courses in that they have a more fixed and specific focus. Whilst a business manager must concern themselves with the whole business package, a project manager can take a tighter focus, and is answerable only for the results of their specific project. Project management, especially in a larger organisation, is a great way to step into business management. Online project management courses can help you to prepare for a whole range of job roles. For example: 

 

Management training is important for business

Management Courses

Business management courses aren’t just for those who are starting out in leadership roles. Management training is vital throughout the whole course of a manager’s career and, no matter what level you are working, there is always a benefit to examining your own practice as well as studying the ideas and methods of others. If you are looking for a management course, you won’t be disappointed with Upskilled’s range, which includes Certificate, Diploma, Advanced Diploma and Graduate Level online business management courses. To make sure you choose the right level, take a good look at the ‘Career Outcome’ suggestions on each course page, or better yet, speak with one of our education advisors. 

For those looking to move into business management this is an exciting time. With the boardroom opening to younger candidates and the continuing influence of digital media, organisations are looking for individuals who can demonstrate their ability to assimilate new ideas, motivate other people and work in a fast-paced environment. If this sounds like you, then take a close look at our online business management courses, online accounting courses and online project management courses, or talk to one of our advisors today.


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About the author
Fi Darby

Fi Darby is a writer for Fi Darby Freelance. She specialises in education, careers, travel and outdoors content writing and is also the co-author of the popular outdoor blog 'Two Blondes Walking'. Fi has written three children's books, including the popular 'Dart the River'. When she isn't writing, Fi loves to get outside for long walks, do a bit of wild swimming and support young people through outdoor education.

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