Business Management: Course and Salary in the Spotlight! Learn to lead, make strategic decisions and manage teams to success!
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What we will see in this article
What is management?
Management is when you take care of things so that they work out, simply put. It’s a set of actions aimed at planning, organizing, directing and controlling what you need to achieve your goals.
This can be used in companies, NGOs, schools or government. For a company, we then talk about the term Business Management.
Remember that the manager’s job is to manage, direct and coordinate. All these terms can be used as synonyms for management.
We can use the word manage for the administration of resources, people, companies and anything that can be managed for some purpose. Still confused? Let’s explain with examples.
Imagine that you have to manage a company and imagine that this company aims to be the biggest in its market.
In this way, you will plan, formulate, execute and organize again so that the company in our example reaches its goal.
In other words, there is always an intrinsic relationship between the objective of what is being managed and its management.
Without a clear objective or goal, it is impossible to manage anything satisfactorily. It is through the objective that goals and changes will be made, as well as their analysis.
Following our example, a great way to measure whether a company is the biggest in its market is the number of products it manages to sell, isn’t it?
In this way, management not only focuses on planning and execution based on resources. For management, it’s essential to know if you’re on the right track.
What is business management?
In the previous topic, we gave you an overview of the management of something. Management requires objectives, planning, execution and measurement.
However, business management goes much deeper than this brief summary.
Business management is a set of best practices for leading a company or institution in the search for better results.
With this, business management organizes actions to improve the company’s internal processes and controls finances to make better use of financial resources.
In other words, business management plans and adjusts internal processes so that it can then achieve an external result that can be measured, arriving at the goal.
However, it must be understood that business management must take into account external factors that could hinder the company from achieving its goal.
External factors are elements that the company has no control over, such as a financial crisis or a new market trend, etc.
Therefore, business management needs to be aware of its objective and adjust the company so that it can achieve it despite external factors.
Otherwise, the manager of that company will be skating in the face of changes in the market and, worse still, won’t be able to achieve his goal.
What do you do in business management?
In this topic we’re going to talk about the main functions within a company’s business management sector.
Division of goals
Business management is responsible for defining the company’s objective based on the company’s needs and dividing the big objective into targets in all sectors.
For example, imagine that the data shows that if the company doesn’t revamp its marketing, it could lose valuable customers and fall behind the competition.
Naturally, the goal of changing marketing completely was born. It also shares this major goal with similar sectors such as commercial management, for example.
Strategic planning and process coordination
Strategic planning acts as a road map directing the company towards its main objective.
This planning will take into account the external and internal factors we talked about in the previous topic. However, this also involves adjusting the company’s processes.
Once the target and external factors have been verified, the company needs to modify its internal processes so that they guarantee a better performance according to the scenario.
Continuing with our example where the company needs to improve its marketing. Imagine that the external factors indicate a market trend where companies are getting closer to their customers on social networks.
So, if the objective is to change and external factors define the scenario in which the company needs to work, everything will change from that moment on.
This is when the company’s design changes, its inbound and outbound strategy, communication channels with customers and so on.
In other words, strategic planning considers these external factors as essential for changing internal procedures and thus achieving the goal.
Analysis of financial and human resources
Finally, business management needs to analyze financial and human resources. Since they are essential to achieving the goal.
Continuing with our example, imagine that there is no social media in the marketing team.
This way, the company will need to hire to follow its plan. In addition, the company needs to analyze other details.
For example, acquisitions, sales, cash flow, staff hirings, layoffs, costs and so on. All the elements that make up a company’s resources.
How important is business management?
As we have seen in previous topics, business management is essential if a company is to achieve its objectives.
In this way, we can say that business management is essential if a company is to continue innovating and improving its processes.
Both to remain relevant to the market and its customers, and to achieve a higher turnover and expand.
However, because it plays such an essential role for a company, business management plays an even greater role.
For example, we said that one of the activities of business management is analyzing financial resources, didn’t we?
In this way, business management becomes essential in order to reduce operating costs in procedures that are not giving the company a return.
Naturally, this better use of financial resources is essential to guarantee the company’s financial health.
Another example is the efficiency of the company as a whole, after all, business management coordinates processes.
In this way, this sector analyzes the processes, checks that they are in line with current best practices in the market and changes where necessary.
Whether it’s using new software, changing teams for greater productivity, transforming entire sectors and so on.
In short, business management is not just for the company to achieve new goals, have higher turnover and be able to expand.
Business management is important because it is almost like the heart of the company. Without it, the company can decline, make bad decisions and lose its market.
What’s a career in business management like?
As you can see from the previous topic, business management is the heart of the company and naturally qualified professionals are highly valued.
So if you want to follow this path, business management is a very interesting career.
Every medium to large company needs a business management department. Naturally, you will have many opportunities coming your way.
Of course, if you take a business management course, you’ll naturally be able to work in a small business, as you’ll be able to work in various areas.
For example, the human resources sector, business administration, the company’s financial sector and so on.
In addition, with experience you can become a business manager. Naturally, it’s the highest position in this sector of the company.
The business manager can act as a director, manager or even executive of the company. In short, they are very senior positions with interesting salaries.
We’ll talk about the salary issue in the next few topics, after all we need to discuss other similar issues.
You also need to have the ideal profile for this type of position and market. However, we’ll also be discussing this subject in future topics.
Where to study business management?
First of all, you need to understand that business management is a postgraduate MBA course.
In other words, you must already have a degree that goes in the same direction. The most common of these is business administration.
However, you can of course do a degree in economics, marketing, human resources and so on.
However, our recommendation if you’re still choosing your degree is that it should be in business management.
Another essential detail is that in the business management course you can choose either the face-to-face model or the distance model.
Both have advantages and disadvantages. The face-to-face course guarantees greater interaction and, of course, networking between the students.
However, distance learning makes the routine of students who also work much easier. Especially if you have a family member, spouse, etc.
Based on everything we’ve said, we’re going to give you a list of where you can study business management in any model.
- Uninter (Distance)
- Anhembi (Distance)
- Anhanguera (Distance)
- FMU (Distance)
- FGV (distance and face-to-face)
- Estácio (distance and face-to-face)
What is the profile of the business management worker?
In previous topics, we talked about how important it is for professionals to have the profile to work in business management.
So let’s take a look at the main characteristics you need to have if you want to enter this career.
Considering that the highest position in business management is the manager, naturally any professional needs to have leadership skills.
In other words, being responsible and managing emotions for the company’s objectives. Since in the future you will need to be even more responsible and manage an entire team.
The strategic vision is to carry out actions based on indicators and clear information. For example, identifying market trends.
This is essential because many professionals work focusing on their values and that’s fine. However, values should never be at the expense of the strategic vision.
For example, imagine that the market demands a change in the company’s marketing. Naturally, if the company doesn’t change, it will lose customers and space.
In this way, having a strategic vision and respecting what the information and indicators say is essential to working in business management.
Flexibility and creativity
As we mentioned in previous topics, the business management plan varies according to external and internal factors.
This means that professionals need to be flexible enough to do what the situation demands. In other words, work with the internal resources you have and in the external scenario that presents itself.
Naturally, these professionals also need to be creative, since they increasingly need to be efficient and flexible as we speak.
The business management professional needs to be very communicative in order to foster a positive climate within this sector.
It is also essential to avoid conflicts and express your ideas in the best possible way. After all, you may have an idea that changes the whole plan for the better.
Do I need to be an entrepreneur to work in business management?
The most straightforward answer is no, you don’t need to be an entrepreneur to work in business management.
What you really need is a degree, experience in the field and a postgraduate degree in business management.
You have to understand that as this is long-term planning, you need to guide your entire career towards business management, don’t you?
Therefore, you need to have a degree in business management, as we’ve mentioned, experience in this area and finally a postgraduate degree.
However, you don’t have to start a company to work in this area. Obviously, this would enrich his work even more.
Since you would have different perspectives on business management. However, if you don’t have this experience, everything is fine.
The most important thing is to have theoretical and practical knowledge in a similar area such as finance, economics, administration and others.
What is the business management market like?
As we mentioned earlier, the business management market is very broad for a competent professional.
Since you have several possible positions to work in, you could even become a business manager one day.
Almost directly influencing areas such as human resources, marketing, finance and other sectors of the company.
The salary is also very important, and we’ll talk more about it in the next section, as we want to go into this topic in greater depth.
However, you need to understand that although the job market is broad and very interesting, you need to fulfill the profile to become a good professional in this sector.
Since this area requires skills and without a profile, you probably won’t be interested in it.
Or worse, you could be a bad professional because this market demands certain skills that you don’t have. So it’s always important to be vigilant and do this self-analysis.
What is the salary of a business manager?
According to educamaisbrasil.com.br, a professional in this field can earn from R$1,700.00 to R$7,000.00 per month.
However, the website itself shows a table that indicates the difference in values according to the size of the company and, of course, the experience of the professional.
In addition to these two variables, it is important to consider the geographical aspect that we always talk about here in our articles.
It’s not logical to expect salaries to be the same in small towns as in big cities, is it?
In this way, you also need to assess where you’re looking for the business management vacancy, not just the size of the company, but the size of the city it’s in.
Finally, there is the aspect of experience that you need to have, which is why having already worked in a similar field is so essential.
Since you’ll be bringing all your previous knowledge from your last role. With this, growing in business management will be even easier and your salary will go hand in hand.
How much experience do you need in business management?
When we talk about management experience, we’re talking about practical knowledge in the development of a company.
In other words, activities that you have done in your professional life, learned from and achieved positive results in the process of improving a company.
Whether it’s making it more efficient, more valued in the market, with more customers and so on. This is important because business management is the heart of the company as we speak.
Therefore, placing a professional with no experience in such an essential sector can be a problem, can’t it?
With this in mind, the experience required for professional management is in a similar area such as business administration or finance.
Once again, you don’t need to own your own company or have managed a multi-million dollar company.
The experience required in business management is in an analogous area, as we said. An area where practical knowledge can be transferable.
The more positive experiences you have, the more likely you are to be hired or promoted into corporate management.
So if you want to start your postgraduate course, you probably already have experience in your field.
Experience similar to what you’ll get in business management is more than enough. However, if you don’t have any similar experience, this can be a problem.
For example, imagine that you have a degree in business administration and want to go on to postgraduate studies.
Perhaps the best way is to gain a bit of experience and practical knowledge so that you can then specialize, right?
In this way, you’ll be able to get a much deeper insight into business management than if you had no experience at all.
How to implement business management in practice?
In this topic we’ll take you step by step through how to implement business management in practice. We’re going to show you the way the biggest companies do it and you’ll be able to understand more deeply how these processes work.
This way, you can also implement business management in your business if you wish.
It will also be useful for students and professionals who wish to pursue this career to gain a deeper understanding of the subject.
Company analysis and goal-setting
First of all, business management will analyze the company and thus create its first objectives.
This analysis is accompanied by the company’s main figures and indicators to show what the company can do better.
With this, the first objectives are formed. For example, increase the number of customers to 10% this year and increase to 25% next year.
Reformulation of processes and distribution of targets between sectors
The big goal is broken down into targets for all the company’s main sectors. Following our example, areas such as marketing, sales and production are key to achieving the goal of having more customers, aren’t they?
In this way, each person will have a goal that together form the big objective. It’s important to say that if one sector fails, it could jeopardize the entire objective.
Naturally, there is also a change in processes. Since we need to change the direction of companies, we need to change their gears.
This is when changes in software, machinery, organization, team changes and so on take place.
Analysis of human and financial resources
Next, the company analyzes the human resources that are vital to achieving not only the main objective, but also the next ones.
In this way, the company considers its long-term plan essential for keeping talent in the company and even firing employees who don’t fit in.
Naturally, in order to make all the changes we talked about in the previous topic, such as buying machinery, hiring staff and so on, you need to have sufficient financial resources.
If there are no financial resources, professionals need to change course or even work with the resources they have.
4. Monitoring and measuring results
Finally, the entire implementation of the planning process is monitored. All the monitoring is done by indicators and other important figures.
This measurement and monitoring is essential because it will show business management whether the goals will be achieved and on time.
If not, you need to go back to step two and reformulate processes accordingly.
Finally, it is important to understand that this process works in cycles. In other words, every time you finish the last step, you’ll go back to the beginning.
What are the tools for business management?
In this topic, we’ll quickly list the main tools that business management can use.
- PDCA cycle
- SWOT Matrix
- Pareto diagram
- Project Model Canvas or PM Canvas
Is it possible to have business management in small companies?
The most straightforward answer is that yes, it is possible to have strong business management in small companies. However, it will probably be the business owner who does the process.
This obviously doesn’t detract from the quality, but being a small company it’s likely that a team isn’t made for this sector.
In this way, it is possible, as we discussed in previous topics, and can be very effective for small businesses to expand and achieve their goals.
However, it is important to have expectations in line with reality. Otherwise, the small business owner may become frustrated.
10 tips for successful business management
To conclude our content, we’re going to give you 10 essential tips for any successful business management.
- The team needs to communicate well with each other and with other parts of the company
- Business management needs to be up to date with current best practices
- You have to have real objectives that can be achieved with the company’s existing resources
- Listen to feedback from other parts of the company so that everyone is on the same page at all times
- Without measurement, it is impossible to define the success of a goal or its failure.