Business Management Essentials

Business Management Essentials

This topic provides a comprehensive foundation in essential business management principles and practices. Learners will explore the fundamentals of business management, distinguishing between the roles of business owners, entrepreneurs, and freelancers. The module covers the three layers of operations management (strategic, tactical, and operational), the goals of performance management, and the benefits of strategic planning tools including the strategic plan pyramid, SWOT analysis, and minimum viable product (MVP). Students will examine business development fundamentals, succession planning, and the various skills necessary for successful business management, including communication, organisational, time management, conflict management, and negotiation skills. The topic also addresses business ethics, customer service, and the business environment, providing a well-rounded understanding of what it takes to manage a successful business.