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The 5 Most Crucial Skills that a MSc in Business Management Should Teach You

MSc in Business Management

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All professional courses worth considering should be able to either teach us new skills appropriate for our future roles, or they should help us sharpen the skillsets which we already possess as professionals. A Master’s degree in Business Management or any other equivalent programme should only be chosen if it is properly accredited and has been designed to teach you all the important skills which a business graduation course is supposed to. Aside from checking the accreditation authority, you’ll need to ensure that the management programme really does have the following sections covered in its curriculum

Technical Expertise:

Business school programmes that do not have an inbuilt IT course into it are not worth pursuing at this point in time. It really does not matter whether you come from a background of technical education or not, all modern courses for completing a Master’s degree in Business Management should train students about handling the basics of Information Technology. This is an essential skill needed by every business executive, because we are all working in a mostly digital world, which will only get further embedded with technology in the coming years. How much of what will be taught though, would depend on the specific management programme chosen.

Business Analytics:

Quite simply put, business analytics is a branch of analytics that deals with organising and interpreting raw information so that the results from those interpretations can then be simplified and presented as readable reports. Given that the accuracy of these interpreted analytics reports is critical for making successful business decisions, the MSc programme should cover a good portion of business analytics a subject.

Business intelligence may or may not be a part of the course, as it falls more within the job descriptions of data science specialists. Unlike business analysts, those working in business intelligence work towards gathering the necessary data, which is then interpreted and presented to the higher ups by analysts.

Problem Solving Techniques:

From the outset, the name seems self-explanatory, but problem solving in business is far more specific and methodical than just the notion of general problem solving may suggest. At its core, the skill comprises of solving typical and atypical issues within the corporate environment, via taught, tried and tested problem-solving methodologies. There are multiple strategies, and their applicability depends entirely on the concerned problem. Even then, we can highlight a few key steps and micromanagement tips necessary to solve most business problems quickly and effectively. 

  • Separating true problems from inevitable facts should be the first step
  • Taking the time necessary to understand the actual problem in its entirety by questioning it from all possible perspectives
  • Post understanding the issue, it must be defined in no unclear terms
  • There should be multiple definitions assigned to the same problem by analyzing it from multiple different perspectives
  • Listing all possible solutions within a fixed timeframe
  • Shortlisting solutions which cater to a problem’s urgency, or lack thereof; urgent problems need immediate solutions, and recurring issues require long-term solutions
  • Selecting the course of action that would be best suited to deal with the issue in question
  • Selecting the team necessary to carry out the course of action
  • Assigning each of the team members with specific tasks and individual steps, which will all come together seamlessly to complete the desired course of action
  • Post finalisation, the steps necessary to follow the course of action must be put into effect immediately

After the applicable time necessary for the solution to take effect has passed, the situation must be reassessed to see whether it worked, and if it did, how effective it turned out to be. In case the solution failed to achieve expected results, its failings must be studied to prepare a new and more modified plan, which should be significantly more in tune with the problem at that time. Although it may seem like trial-and-error at times, the goal is to cut as many “trails and errors” out of the problem-solving process as possible, right from step one.

Advanced Communication:

If you are already good at communicating with others, you have an innate advantage for sure. However, without an advanced communication course embedded in the MSc programme, your natural communication skills will not be able to help you beyond a certain point. It must be sharpened and given direction to grow with precise knowledge about what people expect and what they respond to, within various segments of work.

What you will be taught here should be multifaceted in its application. This means that there should be different strategies for effective communication, depending on the co-workers, customers and/or executives that you are communicating to at any given time. It’s a set of complex techniques which requires practice in order to be perfected with time.

Presentation:

Presentations are a huge part of business itself, so it’s only natural that your MSc course will cover this subject quite extensively. Presentation can be defined as the skill to present any idea or opinion in an organized, intelligible and convincing manner. A few key attributes of concise presentation skill development can be identified as follows:

  • Ability to create a convincing presentation with minimum fluff in between the points
  • Ability to present the message/content/idea in clear, concise and confident tones
  • Ability to speak in front of the public in exactly the way planned previously
  • Effective use of communication skills to complete and enhance each presentation

These are not just soft skills which we just discussed, although some of them may seem like it. For example, communication is indeed a soft skill, but in a business graduation programme, you will be taught how to communicate with specific people, under specific circumstances for better negotiations, relationship maintenance and ultimately, getting favorable results. A general soft skills course cannot possibly teach you such specifics about communication within the corporate ranks. As a result, a lot of subjects taught during the course of your business management programme would be a mixture of hard skills and very specific soft skills.

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