It is estimated that the future shape of business after the global economic crisis will see a trend towards smaller entrepreneurial affairs as opposed to huge corporate entities. This notion has not only been stimulated by the recent collapse of major high street stores such as Woolworths and the emergence of highly successful start-ups like Twitter, but also by the popularity of business-orientated courses at colleges and universities.
The consequence of this business shift, however, is that there is an increase in the number of people quickly finding themselves in charge of a small group of people, often without the necessary management skills to ensure things run as smoothly as they could. Therefore, specialist management courses available at further education institutions and online are becoming more and more integral to prospective managers and young entrepreneurs.
In the 21st Century there are a number of published ideas of how to manage a team, yet the core management basics are usually centred around planning, organizing, leading and controlling. Of course, these are the focal points of any management course with planning being studied in terms of the business as a whole, as well as how best to utilize your team.
The basics of leadership and being an inspiration to your team is something that is often criticized of managers who haven’t been trained in this area. Each organization, company, and team within it will have a different ‘culture’ – and this diversity will be something that is studied to ensure that each student is best suited to be able to incite enthusiasm, as well as being able to make key decisions at the right time.
Yet, business management courses also go into more depth beyond the basics. The fundamentals of marketing – including branding and consumer behaviour – are a vital subject to study, especially for anyone running a small business without the aid of a marketing manager. Additionally, management courses typically involve some focus on financial management in order to gain skills integral to tight budget decision-making for start-ups.