Business Studies
Business Studies simple can be defined as the study which studies
various fundamentals of business. The field which studies the
principles of business, management of the business and business
economies coins under one term as ‘Business Studies’
In this article, we will be studying what is business studies, detailed
explanation of the term will be given, why should one study business
studies, how can one study business studies, and job opportunities
with business studies will be shared in this article. Starting with let us
understand in detail what is Business Studies.
Business studies, often simply called business, is a field of study that deals with
the principles of business, management, and economics.[1] It combines elements
of accountancy, finance, marketing, organizational studies, human resource
management, and operations. Business studies is a broad subject, where the
[2]
range of topics is designed to give the student a general overview of the various
elements of running a business. The teaching of business studies is known
as business education.
Countries in which the subject is taught under the name "business studies"
include Mauritius, Oman, South
Korea, Argentina, Australia, Bangladesh, Nepal, Brazil, Canada, Hong
Kong, India, Ireland, Mexico, Singapore, Malaysia, Cambodia, Kenya, Poland, Malt
a, New Zealand, Nigeria, Pakistan, South Africa, Sri Lanka, Sweden, the United
Kingdom, Zimbabwe and Indonesia.
England
Business studies can be taken as part of the General Certificate of Secondary
Education (GCSE) option for Year 9, Year 10 and Year 11 at secondary school and
also can be taken as part of a GCE Advanced Level (A-level) course in Year 12
and Year 13. It includes a range of subjects, which give the student general
understanding of the various elements of running a business. Subjects covered
include, but are not limited to: Business Organization, People
in Business, Marketing, Operations & Production, Finance, and Strategic
Management.
Scotland
Business management is an option for National 5[4] and Higher[5] qualifications.
Both National 5 and Higher exams cover Understanding business, People,
Finance, and Marketing and operations.
,Entry to UK Higher Education
The University of Cambridge considers business studies not to be a 'traditional
academic subject', although taking business studies individually will not
disadvantage students as long as it is identified as 'essential' or 'desirable' for the
course being applied for. It is also suitable when applying for economics at
university, if the college the candidate comes from does not offer the economics
A-level individually.
Hungary
After finishing secondary school, students in Hungary have the option of either
taking an accredited 2–4 semester business course and obtaining a certificate, or
applying to college or university. Students can also take part in a 2-semester
preparatory business course to have a greater chance of getting accepted by a
university. Hungarian business education has been organized according to the
Bologna system since 2006.
People's Republic of Nepal
Business studies programmes are widely taught in the Republic of Nepal, where
it is taught at every colleges of +2 level and also in colleges that provide A-
Levels. A number of universities (public and private) are offering business
studies programme under the heading of Business Administration.
South Africa
In South Africa, Business Studies can be taken as an elective subject from a
student's Grade 10 year through to their Grade 12 year; it is offered as part of the
standard NSC, as well the IEB (see Matriculation in South Africa). As elsewhere,
the syllabus covers a range of topics designed to give the student general
understanding of the various elements of running a business. Accountancy [8] and
Economics [9] are offered as separate, and more technical, subjects.
India
Business studies is taught at the secondary level in India as an academic elective
under the Central Board of Secondary Education. It covers management,
marketing, and finance.
NATURE AND SIGNIFICANCE OF MANAGEMENT
, The above case is an example of a successful organisation which is amongst the top
companies in India. It has risen to the top because of its quality of management.
Management is required in all kinds of organisations—those manufacturing handlooms,
trading in consumer goods or providing hairstyling services and even in non-business
organisations. Let us take another example. Smita Rai is a 38-year old entrepreneur who grew
up in a rural district called Namchi, South Sikkim. She was very good in art and craft
particularly, Wax moulds. She loved to make candles, often she make into toys and small
pieces of art with wax and used it as a gift for her friends and relatuves. She was loved and
appreciated for these. Smita was never happy with the conditions of the women in her
district as most were poor and jobless, so she planned to do something to solve their
problems because she knew that imparting skills for livelihood is needed but she had no idea
of how to implement her idea. In August 2012, she met Abishek Lama, the Branch Manager of
NEDFI, Namchi Branch, a financial corporation which support local people with skills
development programs and also channelize them into revenue generating activities. Smita
got interested. “I love making candles, then, why not convert my hobby into a venture and
involve these rural women also”, she thought. This led to the establishment of Namchi
Designer Candles with the help of NEDFI, some financial institutions and support from
different stakeholders in various dimensions. Since then, the women have never looked back,
despite challenges. The women also faced a lot of harassment but they could overcome all
those troubles. Namchi Designer Candles has 100 per cent women as employees and they
also produce varieties of candles. During Diwali, they produce customized candles meant for
the occasion. These Diwali themed candle has been a success in Sikkim as its demand
increases on a yearly basis. Namchi Designer Candles has been receiving numerous awards
such as North East Women Entrepreneur of the year 2015-2016 for Sikkim and Sreemanta
Shankar Mission of Guwahati on 26th April 2018 at New Delhi. A typical day in Smita’s life
consists of a series of interrelated and continuous functions. She has to plan a special festive
collection for Diwali. This means organising more funds and recruiting more workers. She also
has to regularly communicate with her suppliers to ensure that deadlines regarding delivery
of goods are met. In the course of the day, she meets customers for a general feedback and
any suggestions that they may have. Smita is managing Namchi Designer Candles. So is the
Principal managing your school. They all manage organisations. Schools, hospitals, shops and
large corporations are all organisations with diverse goals that are aimed at achieving
something. No matter what the organisation is or what its goals might be, they all have
something in common-management and managers. You have observed that Smita’s work as a
manager consists of a series of different activities or functions aimed at achieving the goals of
the organisation. These interconnected and interdependent functions are part of
management. Successful organisations do not achieve their goals by chance but by following
a deliberate process called ‘managementManagement is essential for all organisations big or
Business Studies simple can be defined as the study which studies
various fundamentals of business. The field which studies the
principles of business, management of the business and business
economies coins under one term as ‘Business Studies’
In this article, we will be studying what is business studies, detailed
explanation of the term will be given, why should one study business
studies, how can one study business studies, and job opportunities
with business studies will be shared in this article. Starting with let us
understand in detail what is Business Studies.
Business studies, often simply called business, is a field of study that deals with
the principles of business, management, and economics.[1] It combines elements
of accountancy, finance, marketing, organizational studies, human resource
management, and operations. Business studies is a broad subject, where the
[2]
range of topics is designed to give the student a general overview of the various
elements of running a business. The teaching of business studies is known
as business education.
Countries in which the subject is taught under the name "business studies"
include Mauritius, Oman, South
Korea, Argentina, Australia, Bangladesh, Nepal, Brazil, Canada, Hong
Kong, India, Ireland, Mexico, Singapore, Malaysia, Cambodia, Kenya, Poland, Malt
a, New Zealand, Nigeria, Pakistan, South Africa, Sri Lanka, Sweden, the United
Kingdom, Zimbabwe and Indonesia.
England
Business studies can be taken as part of the General Certificate of Secondary
Education (GCSE) option for Year 9, Year 10 and Year 11 at secondary school and
also can be taken as part of a GCE Advanced Level (A-level) course in Year 12
and Year 13. It includes a range of subjects, which give the student general
understanding of the various elements of running a business. Subjects covered
include, but are not limited to: Business Organization, People
in Business, Marketing, Operations & Production, Finance, and Strategic
Management.
Scotland
Business management is an option for National 5[4] and Higher[5] qualifications.
Both National 5 and Higher exams cover Understanding business, People,
Finance, and Marketing and operations.
,Entry to UK Higher Education
The University of Cambridge considers business studies not to be a 'traditional
academic subject', although taking business studies individually will not
disadvantage students as long as it is identified as 'essential' or 'desirable' for the
course being applied for. It is also suitable when applying for economics at
university, if the college the candidate comes from does not offer the economics
A-level individually.
Hungary
After finishing secondary school, students in Hungary have the option of either
taking an accredited 2–4 semester business course and obtaining a certificate, or
applying to college or university. Students can also take part in a 2-semester
preparatory business course to have a greater chance of getting accepted by a
university. Hungarian business education has been organized according to the
Bologna system since 2006.
People's Republic of Nepal
Business studies programmes are widely taught in the Republic of Nepal, where
it is taught at every colleges of +2 level and also in colleges that provide A-
Levels. A number of universities (public and private) are offering business
studies programme under the heading of Business Administration.
South Africa
In South Africa, Business Studies can be taken as an elective subject from a
student's Grade 10 year through to their Grade 12 year; it is offered as part of the
standard NSC, as well the IEB (see Matriculation in South Africa). As elsewhere,
the syllabus covers a range of topics designed to give the student general
understanding of the various elements of running a business. Accountancy [8] and
Economics [9] are offered as separate, and more technical, subjects.
India
Business studies is taught at the secondary level in India as an academic elective
under the Central Board of Secondary Education. It covers management,
marketing, and finance.
NATURE AND SIGNIFICANCE OF MANAGEMENT
, The above case is an example of a successful organisation which is amongst the top
companies in India. It has risen to the top because of its quality of management.
Management is required in all kinds of organisations—those manufacturing handlooms,
trading in consumer goods or providing hairstyling services and even in non-business
organisations. Let us take another example. Smita Rai is a 38-year old entrepreneur who grew
up in a rural district called Namchi, South Sikkim. She was very good in art and craft
particularly, Wax moulds. She loved to make candles, often she make into toys and small
pieces of art with wax and used it as a gift for her friends and relatuves. She was loved and
appreciated for these. Smita was never happy with the conditions of the women in her
district as most were poor and jobless, so she planned to do something to solve their
problems because she knew that imparting skills for livelihood is needed but she had no idea
of how to implement her idea. In August 2012, she met Abishek Lama, the Branch Manager of
NEDFI, Namchi Branch, a financial corporation which support local people with skills
development programs and also channelize them into revenue generating activities. Smita
got interested. “I love making candles, then, why not convert my hobby into a venture and
involve these rural women also”, she thought. This led to the establishment of Namchi
Designer Candles with the help of NEDFI, some financial institutions and support from
different stakeholders in various dimensions. Since then, the women have never looked back,
despite challenges. The women also faced a lot of harassment but they could overcome all
those troubles. Namchi Designer Candles has 100 per cent women as employees and they
also produce varieties of candles. During Diwali, they produce customized candles meant for
the occasion. These Diwali themed candle has been a success in Sikkim as its demand
increases on a yearly basis. Namchi Designer Candles has been receiving numerous awards
such as North East Women Entrepreneur of the year 2015-2016 for Sikkim and Sreemanta
Shankar Mission of Guwahati on 26th April 2018 at New Delhi. A typical day in Smita’s life
consists of a series of interrelated and continuous functions. She has to plan a special festive
collection for Diwali. This means organising more funds and recruiting more workers. She also
has to regularly communicate with her suppliers to ensure that deadlines regarding delivery
of goods are met. In the course of the day, she meets customers for a general feedback and
any suggestions that they may have. Smita is managing Namchi Designer Candles. So is the
Principal managing your school. They all manage organisations. Schools, hospitals, shops and
large corporations are all organisations with diverse goals that are aimed at achieving
something. No matter what the organisation is or what its goals might be, they all have
something in common-management and managers. You have observed that Smita’s work as a
manager consists of a series of different activities or functions aimed at achieving the goals of
the organisation. These interconnected and interdependent functions are part of
management. Successful organisations do not achieve their goals by chance but by following
a deliberate process called ‘managementManagement is essential for all organisations big or
