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what is the best way to learn business mangement stratetgy?

what is the best way to learn business mangement stratetgy tips?

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Nikolaos’s Answer

Hi Mario,

I would tell you that an interesting way to start your first steps in this journey, would be to dive into stories by exploring the lives and careers of successful leaders. Read their biographies or watch documentaries about them to see how they faced challenges and made crucial decisions. Notice how they navigated tough times, seized opportunities, and adapted to changes. By understanding their thought processes and the context of their choices, you can gain valuable insights and even get the chance to create your own perspectives and ideas. Many times this storytelling approach makes complex strategies relatable and easier to remember!

Of course from there you can always research online for relevant sources and courses to deepen your understanding or even decide to study business in college to further enhance your skills and knowledge.

Hope that helps!

Best regards,
Nikolas
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Sharyl’s Answer

When you're eager to master strategy, first identify the specific business niche you're interested in. Next, conduct thorough research about it. Once you've gathered enough information, connect with the top professionals in that niche. Don't hesitate to request an interview with them. Always be prepared with your questions and reasons for asking them. Remember, the guidance of a mentor in your chosen field is invaluable and irreplaceable.
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James Constantine’s Answer

Hello Mario,

Best Way to Learn Business Management Strategy

To learn business management strategy effectively, consider the following approaches:

Pursue a Formal Education: Enroll in a college or university program that offers a business management or administration major. This will provide you with a solid foundation in various aspects of business strategy, including finance, marketing, human resources, and operations. Institutions like

Harvard University, Massachusetts Institute of Technology (MIT), and Stanford University offer highly-ranked business programs.

Online Courses and Certifications: Take advantage of online learning platforms such as Coursera, edX, and Udemy to access business strategy courses from reputable institutions worldwide. These platforms offer flexibility in learning pace and schedule.

Reading Recommended Books: Dive into popular and authoritative books on business management strategy, such as:
“Good Strategy Bad Strategy“ by Richard Rumelt
“Blue Ocean Strategy“ by W. Chan Kim and Renée Mauborgne
“The Art of War“ by Sun Tzu (applicable insights from military strategy)

Networking and Mentorship: Engage with industry professionals and attend networking events to learn from experienced professionals in the field. Seek out mentors who can provide guidance, advice, and support for your career development.

Stay Updated with Industry Trends: Regularly read industry publications, attend webinars, and join professional organizations to stay informed about current trends and best practices in business management strategy.

Hands-on Experience: Apply your knowledge through internships or entry-level positions in businesses to gain practical experience in developing and implementing strategic plans. This experience will help you refine your skills and become more competitive in the job market.

Continuous Learning: Business management strategy is an ever-evolving field; commit to continuous learning by regularly reviewing and updating your knowledge base to stay current on new strategies and techniques.

Analytical Skills Development: Improve your analytical skills through practice, as data analysis is a crucial component of developing successful business strategies. Familiarize yourself with data analysis tools like Excel, SQL, R, or Python to enhance your skillset further.

Critical Thinking Skills: Develop critical thinking abilities by challenging assumptions, questioning information sources, evaluating multiple perspectives, and making informed decisions based on data analysis results.

Effective Communication: Master the art of effective communication to articulate your strategic vision clearly and persuasively to colleagues, stakeholders, or clients. This includes both written and verbal communication skills for presentations or reports related to business strategies.

Authoritative References Used:

Harvard University

Massachusetts Institute of Technology (MIT)

Stanford University

God Bless,
JC.
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Katherine’s Answer

You can probably learn a lot by looking at Dave Ramsey's book EntreLeadership, and this workbook (https://www.churchofjesuschrist.org/bc/content/ldsorg/topics/self-reliance/2017/14678_sgmb_book_eng.pdf?lang=eng). They can help you think of new things and find answers to questions you're already had, and get validation about things you already have found out.
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Hagen’s Answer

Mario,

I started my own construction business when I was around 21. That was too young and was very headstrong and immature. That said, management is as much personal and emotional as it is strategic. There are fears and anxieties that running a business surfaces such as confidence in yourself interpersonally - business takes place between people and that makes demands on your social skills whether you have them or not. There's also always stress around paying bills, payroll even if you're good at managing your business' money (I wasn't). Customers and employees are always challenging your social and business skills.
Typically, your business is based on expertise which others don't have and can't easily acquire. Licensing or certifications fit that pattern too. Hense you must excel at whatever it is you're selling - product or service. That takes time to learn and it's best done working for someone else for 10 or 20 years. That's also a great way to learn business skills. Most companies will train you for management if you let them know you're interested, but it's a slow process.
Business management is complex and demands a host of skills and aptitudes working in balance (e.g. social, technical, financial, managerial). It TAKES TIME to work that all out and by time, I mean years if not decades.

Hagen recommends the following next steps:

It never hurts to read - there are hundreds of books on management
Get a job with a small business and ask questions. Ram Charam talks about his family's shoe business in India - now he is a famous author and consultant.
Go to business school per JC's advice.
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