Why invest in business education according to Kelly Curia-Schmidt?
Business education is not just for the business executives in Wall Street or the CEO of some major multinational corporation. It is a field of study that applies to every area of life. It doesn’t have to be studied academically or professionally to be applicable. The whole process of human interaction is business in one form or another. There are numerous definitions of the concept of business derived from many schools of thought. For some, it is an organization where people work together. For others, it is an organization or enterprising entity engaged in commercial, industrial or professional activities. Yet others define it is as an organization or economic system where goods and services are provided and exchanged for money. These are all correct and a common character of all these definitions is interaction and exchange. If you offer a product or service that provides satisfaction to a user, you are in business. Whether on a large scale of small scale, learning about business and understanding its basic principles are very important and makes all the difference in whether a person will be successful in any sector or industry.
The applicability of business knowledge in every industry and personal endeavor
The goal of every industry and enterprise is to make a profit. This is primarily what business enables them to do. It fosters conditions that allow for relationships to be established and favorable exchange to take place. But that is not all there is to business. As earlier stated, business knowledge, basic or advanced, applies in every industry and sector imaginable and professionals like Kelly Curia-Schmidt outline reasons why this is so.
- Communication is the foundation upon which any successful business is built and Effective communication is a very vital and necessary skill relevant to all industries. The success of any business depends largely on its ability to clearly and effectively explain and market its products and services to customers. It also helps fosters good working relationships between coworkers which further promotes productivity.
- A good understanding of business also helps in understanding human needs and consumer behavior thus ensuring optimum projection of resources toward profitable areas of investments.
- Business basics also involve identifying a need or problem and providing services that solve these problems and being rewarded for it, a skill relevant to all industries.
- Yet another valuable skill a good understanding of business brings that is useful and applicable in any industry is the honing of branding, presentation, marketing and sales skills. Every industry has a product or service it offers to prospective customers in exchange for profit but no matter how good a product is, improper application of these skills will cause it to go unnoticed. Every industry needs people who are skilled in these areas.
- Business knowledge also aides in developing and sustaining sound financial management skills. The main idea of business is to provide customer satisfaction and make money but an understanding of financial management is what will keep that business afloat. These principles also apply not just to business and industries but even to personal life.
- It also prepares one to easily adapt to constantly changing economies and the conditions of the market. The mutability of the market makes that one, whether seasoned or amateur, should anticipate change, adapt to it and be visionary enough to see opportunities even in a crisis.
Why proper research is necessary when looking into any business venture
All of this boils down to being knowledgeable and well informed about certain things. General knowledge provides an advantage such that no matter the place or situation, one is able to be relevant and contribute as the situation requires. This is the value of research and information. It is foolishness to embark on any venture ignorant and uninformed. The result is guaranteed failure. Wisdom demands that proper research on that area is conducted. It enables one to understand the field or industry he intends to venture into and forms the foundation for a successful career ahead.
Conclusion
No knowledge is wasted. Learning about business is not just for those with a suit and tie aspiration. Life is all about relationships and exchange of services to meet our needs and business is the channel through which we are able to satisfy these needs while being rewarded ourselves. It is made of principles that apply to every sector and industry as far as the economy is concerned. Even our personal lives need the wisdom of business principles to run smoothly.
