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For a short period of time, the reader can familiarize himself with the MBA program in detail, master the basic terms and concepts. Steven Silbiger is the marketing director of Plymouth Direct. His talent is the ability to clearly and clearly convey complex financial and business concepts.
His book, MBA in 10 Days, has sold over , copies. Stephen graduated from business school. The Darden University of Virginia. Today he lives with his family in Philadelphia. Marketing Marketing is a special fusion of art and science. Studying audience marketing is very beneficial, but no training will endow you with the experience, intuition, and creativity that every truly outstanding marketer has. That is why those who have the spark of God are paid a lot.
Formal education will provide MBAs with basic concepts and a glossary of terms for solving marketing problems. This is the purpose of this chapter, as well as countless expensive seminars for managers organized by leading business schools. The best business schools prepare their students for leadership positions in the field of marketing, not taking into account the fact that, quite possibly, at their first job these people were just secondary assistants in brand marketing in some large food company or soap.
Therefore, the basis of the training course is the development of a comprehensive marketing strategy, and not the formation of the applied knowledge necessary to work in entry-level positions that lie outside the circle of interests of business schools working under MBA programs. Opportunities that can work to win, literally no number. The marketing plan undergoes numerous changes until all it components become internally consistent and provide mutually supportive goals.
All components of any proposed plan should work in concert — only then does the plan make sense. It is very easy to choose one component of the plan correctly, but a great achievement is the marketing plan, which is internally consistent and provides support for the goals set.
The process of developing a marketing strategy has seven components: Consumer analysis. Consideration of the competitive situation and the place of your own company in it. The study and selection of distribution channels. Preliminary selection of marketing mix. Assessment of economic factors. Revision of steps and returning to the beginning until an internally agreed plan is obtained. Although there are seven stages, their sequence is not fixed once and for all.
Depending on the circumstances and your personal style, the sequence of steps is permissible to change. Marketing is a field of activity, especially saturated with special terms and concepts. Using the right terminology, even ordinary marketing ideas can shine like real diamonds.
Day 2. Business Ethics Unlike the vast majority of those that have been almost invariably present in the MBA program for decades, business ethics appeared in it quite recently. What was initially a general education elective course has today become an institutionalized part of the basic MBA program at Harvard, Warton, and Darden business schools.
In any case, business ethics is a fertile topic for those who like to speak at various meetings, write scientific articles and dissertations. Often, ethical problems do not have a definite solution, so this area will be a fruitful source of academic work for many years to come.
The goal of an ethics course in an MBA program is not to teach students how to model companies as subjects of socially responsible behavior. When analyzing cases from practice and participating in role-playing games, students are faced with ethical dilemmas typical of their actual activities. The best business schools teach future leaders in the field of economic and commercial activity the ability to solve any ethical problems. Proponents of this approach believe that companies have social obligations that are above the goal of maximizing profits.
It is argued that corporations are so powerful that they are simply obligated to assume social obligations. Any company should be managed to the benefit of those for whose benefit it exists stakeholders : consumers, suppliers, employees, local communities, as well as its owners. In life, something unconditionally black or white is rarely found. Between them are various gradations of gray. Relativists do not torment themselves with ethical dilemmas, for they do not believe that truth can be found in the darkness of the soul.
The social responsibility of business is a concept according to which enterprises are accountable not only to their owners. Relativism and its four varieties are grounds for refusing ethical decision-making. An analysis of individuals for whose good an organization exists is a scheme that allows you to take into account the interests of individuals affected by a business decision.
Day 3. Accounting Accounting is the language of business. Companies need to inform the world about their performance. The users of accounting information include employees, investors, creditors, consumers, suppliers and professional societies organizations. Inside the company, accounting information is a means of monitoring, evaluating and planning operations.
Regardless of audience or function, accounting deals with numbers. Accountants accountants have access to all information about the activities of the enterprise, which allows you to register operations, take stock and analyze the activities of enterprises. The profession of an accountant has existed since ancient times. Accounting is able to answer the following fundamental questions about the business: — What does the company own? All activities of the company should ultimately be presented in monetary terms, and it is here that accounting comes into effect, like it or not.
Although this area may seem boring, you must have a working knowledge of accounting in order to ensure the functioning of your company in the business world. It is known that knowledge is power, therefore, an MBA must have certain knowledge in order to understand the function of accounting.
However, even something else is more important — he must be able to request and use the accounting information necessary for making decisions. However, the purpose of the MBA is not to comprehend complex accounting rules at the expert level. Any business function, including finance, operations, and marketing, is based on digital data provided by accountants, so it is very important to understand the basics of accounting. You should not so much remember them as just familiarize yourself with them to the extent that you can communicate with a certified public accountant.
Accounting rules serve as a kind of standard, which allows you to compare among themselves the financial statements of companies. These rules have been developed for many years and are similar to the precedents in jurisprudence.
Accounting records and reports are always balanced. Financial statements can be interpreted using analytical ratios. Performance can be analyzed and managed using the notion of deviations. This is the essence of accounting in a few words.
At a business school, accounting shocked the hearts of free-thinking newcomers with a liberal arts education. Day 4. Sexism discrimination based on sex , prejudice and greed raise their disgusting heads in the classroom when seemingly unbiased listeners are accepted for analyzing cases from practice. What is taught in the classes in the field of study, with good mastery of the material, are skills that can be of the most important in an MBA career?
The inability to interact with people makes the MBA look like a person who has a power tool but no power cord. Similar to the development of a marketing strategy that involves seven consecutive steps, in the future, a three-stage method for solving organizational problems is proposed.
Definition of the problem. At the same time, students are offered to practice using the acquired skills of analyzing problems and drawing up plans for solving them for increasingly complicated cases.
In this model, an attempt is made on a cognitive basis to link external events with employee behavior. Value assumptions affect the perceptions of people. Conclusions depend on perception. Conclusions awaken certain feelings. And ultimately, the behavior determines the behavior that managers observe.
In an effort to understand this process, an MBA can find the opportunity to initiate its positive behavior and the behavior of its colleagues. In other words, MBAs are taught to be leaders of a new type.
The best MBA business schools call themselves incubators of future business leaders. It is in this spirit that the EP course approaches leadership problems and the responsibilities of the leader. A leader defines goals. The leader offers new ideas. The leader captivates people on an emotional level. On the contrary, the manager responds to events.
The manager solves the problems, and the leader accepts the challenge. Most importantly, an MBA is required to think before acting. When an MBA needs to act, in order to create a coordinated and effective plan of action, he must carefully analyze the situation, first from the point of view of the individual, and then — in the long term of winning for the organization.
Day 5. He introduces the main tools used primarily in the areas of finance, accounting, marketing, and operations management. MBA can make a lasting impression on the boss with his sophisticated schemes, diagrams, and expressive language. It is good when the conclusions of the MBA meet the same warm welcome. The use of quantitative methods of analysis to solve business problems is the main advantage of the MBA.
These methods help the MBA to maintain objectivity when working on complex tasks. The theories underlying KMA are not well-formed logical constructions.
However, what matters is that they can be used to solve business problems.
The Ten-Day MBA – Steven Silbiger [Book Summary]
The ten-day MBA