A strategy is a detailed set of plans that are made to achieve an end goal. When the end goal is the launching of a new business, the strategic business plan is the map that guides the way. It helps to match the goals of the business with the needs of the market.
Senior managers and CEOs of organisations must have an understanding of every part of a business, including the unique challenges, opportunities and workings of each department. But no area of knowledge is more important than finance.
Several years ago, employers were interested in hiring individuals who had a bachelors degree in their particular field of work, but the market has moved on. More employers than ever are looking for proven business knowledge to back up an area of specialisation, the sort of knowledge and business confidence that comes from a Masters of Business Administration.
It’s not uncommon to find, in business sections of newspapers and websites, stories about lawsuits between businesses for intellectual property infringement. The results of such legal action often comes down to who has best protected their idea, trademark, patent or copyright.
It’s hard work, expensive, and a daunting prospect to leave a stable career and study for a Master of Business Administration (MBA). So, why do people do it? Of course, there are a variety of reasons to take the plunge. Perhaps you’re looking to move into a management or leadership position in your current field; or diversify your talents in order to make a particular career change. Whatever the reason, underlying all these motivations is the significant positive effect that an MBA has on graduates’ salaries.
At SCU’s recent networking event in Brisbane, over 50 attendees were inspired by bestselling author and 2018 SCU Vice Chancellor’s Alumnus of the Year, Bella Zanesco as she guided them in becoming fully expressed leaders with her keynote The Future is Human.
The way we learn continues to evolve as new technologies become so common that we can no longer imagine life without them. With the increase of smartphones, rising internet access and greater digital connection, we’re now able to access information on any topic instantaneously, reducing barriers to learning and personal growth.
By David Noble
David is an Associate Lecturer and Doctoral Researcher at SCU
While artificial intelligence brings with it some real advantages, many jobs will be affected.