Yangon Management Training School

Certificate In
Business Management
Daw Khin Yee Mon Thant
Founder and Lecturer at Yangon Management Training School
Master of Business Administration
(University Of Northampton, UK)
Postgraduate Diploma in Strategic Management and Leadership
(Pearson, UK)
B.A (English)
Diploma in Business Management and Administration (ICM, UK)
Certificate in Advanced Business Calculation (UK)
Certificate in Business Statistics (UK)

Business Management
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Certificate in Business Management Course

Guidelines
 Introduction of Business Management
 Level of Management, Management As a Profession
 6 Fundamentals of Business Management
 Business Management Functions
 Business Management Skills
 Entrepreneurship

Chapter 1- Introduction of Business Management, Business Management Theory

Chapter 2 - 6 Fundamentals of Business Management, Business Management

Functions

Chapter 3 - Business Management Skills

Chapter 4 – Entrepreneurship

Chapter 1
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Introduction of Business Management

What is Business Management?
 A Business Management Theory is a study of the principles and practices of
a business to attain its desired organizational goals conducting effective
management.
 Skill of getting things done through people.
 Attainment of organizational goals in an efficient and effective manner by
planning, organizing, leading and controlling organizational resources.
 The size of management can range from one person in a small organization
to hundreds or thousands of managers in multinational companies.

Business Management Process

Business Management consists of three aspects:
1. Management is a social process - Since human factor is most important
among the other factors, therefore management is concerned with
developing relationship among people. It is the duty of management to make
interaction between people - productive and useful for obtaining
organizational goals.
2. Management is an integrating process - Management undertakes the job
of bringing together human physical and financial resources so as to achieve
organizational purpose. Therefore, management is an important function to
bring harmony between various factors.
3. Management is a continuous process - It is a never ending process. It is
concerned with constantly identifying the problem and solving them by
taking suitable steps.

Levels of Management
The levels of management can be classified in three broad categories:

1. Top level / Administrative level

2. Middle level
3. Low level /Operative / First-line managers
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Managers at all these levels perform different functions.

Top Level of Management

 It consists of board of directors, chief executive or managing director. The

top management is the vital source of authority and it manages goals and
policies for an enterprise.
 It gives more time on planning and coordinating functions.

Middle Level of Management

 The branch managers and departmental managers constitute middle level.
They are responsible to the top management for the functioning of their
department.
 They devote more time to organizational and directional functions. In small
organization, there is only one layer of middle level of management but in
big enterprises, there may be senior and junior middle level management.

Lower Level of Management

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 Lower level is also known as supervisory / operative level of management. It

consists of supervisors, officers, administrator etc.

Management as a Profession
 Specialized Knowledge - A profession must have a systematic body of
knowledge that can be used for development of professionals.
 Formal Education & Training - There are no. of institutes and universities
to impart education & training for a profession. Many institutes of
management have been set up for imparting education and training.
 Social Responsibilities - Profession is a source of employment but
professionals are primarily motivated by the desire to serve the society.
Their actions are influenced by social norms and values.
 Code of Conduct - Members of a profession have to accept by a code of
conduct which contains certain rules and regulations, norms of honesty,
integrity and special ethics.
 Representative Association - For the regulation of profession, existence of
a representative body is a must.
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Chapter 2
6 Fundamentals of Business Management
1. People
2. Operations
3. Accounting
4. Strategy
5. Finance
6. Marketing
1. People
 Human resources are your company’s greatest asset and how you lead,
motivate and inspire your employees can have a huge impact on the
success of your company.
 Key leadership and communication skills are necessary to be a
successful leader and build a strong organization.
2. Operations
 Managing a supply chain and making sure production meets demand
under tight deadlines can be incredibly complex and is critical to business
success.
 Understanding key aspects of business operations including capacity
planning, productivity analysis and improvement and quality assurance.
3. Accounting
 Proper management of the day to day accounting and finances of a
business is critical to operations and learning how to read, analyze and
prepare financial statements is an essential skill if you plan to start or run
a business.
4. Strategy
 The ability to take a high-level, strategic view of a business is necessary
to identify opportunities and to stay ahead of external forces such as new
competition and changing consumer demand.
5. Finance
 The growth and maintenance of your business may require making major
purchases, investments, mergers and acquisitions and more.
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 Smart financial planning and decision-making create value for your

organization and ensure its growth into the future.
6. Marketing
 Marketing is much more than simply advertising a product or service.
 You must identify and interact with your customer, stay on top of their
changing needs and desires and deliver a strong value proposition.
 Learning core concepts of marketing including segmentation, targeting,
differentiation, product positioning and much more are essential.

Business Management Functions (Four)

1. Planning
2. Organizing
3. Leading
4. Controlling
1. Planning
 Planning involves deciding where to take a company and selecting steps
to get there.
 It first requires managers to be aware of challenges facing their
businesses, and it then it requires managers to forecast future business
and economic conditions.
 They then formulate objectives to reach by certain deadlines and decide
on steps to reach them.
2. Organizing
 Managers organize by bringing together physical, human and financial
resources to achieve objectives.
 They identify activities to be accomplished, classify activities, assign
activities to groups or individuals, create responsibility and delegate
authority.
 They coordinate the relationships of responsibility and authority.
3. Leading
 Leading requires managers to motivate employees to achieve business
objectives and goals.
 It requires the use of authority to achieve those ends as well as the ability to
communicate effectively.
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 Effective leaders are students of human personalities, motivation and

communication.
 Leading also involves supervision of employees and their work.
4. Controlling
 Controlling is a function of management that involves measuring
achievement against established objectives and goals
 Controlling is measuring, comparing, finding deviation and correcting the
organizational activities which are performed for achieving the goals or
objectives.
 Control activities generally relate to the measurement of achievement or
results of actions which were taken to attain the goal.
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Chapter 3
Business Management Skills
There are six business management skills
1. Multi-tasking Skills
2. Decision-making
3. Leadership
4. Motivation
5. Business Development Skills
6. Effective Communication
1. Multi-tasking Skills - Multitasking refers to the ability of an individual or
machine to perform more than one task at the same time. In the field of
human resources, multitasking is a popular term that is often used to
describe how busy managers or business practitioners are able to accomplish
ever more in the same amount of time.
2. Decision-making - Decision making is an on-going process in every
business; large or small. Decision-making skills of an individual refer to his
ability to choose the best course of action after carefully analyzing and
examining the available options and the given circumstances.
3. Leadership - Leadership skills are the strengths and abilities individuals
demonstrate that help the manage processes, guide creativities and direct
their employees toward the achievement of goals. Leadership skills are an
essential part in positioning managers to make thoughtful decisions about
their organization's mission and goals, and properly give resources to
achieve that order.
4. Motivation - Motivation is defined as the process that initiates, guides, and
maintains goal-oriented behaviors. Motivation can have many sources, and
often people have multiple motives for engaging in any one behavior.
Motivation might be extrinsic, whereby a person is inspired by outside
forces—other people or events that transpire.
5. Business Development - Business development is the creation of long-term
value for an organization from customers, markets, and relationships.
Business development supports sales achieving its goals and identifying
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business opportunities, generating leads, assessing their needs and delivering

qualified opportunities.
6. Effective Communication - Effective communication is a process of
exchanging ideas, thoughts, knowledge and information such that the
purpose or intention is fulfilled in the best possible manner. Many jobs
require strong communication skills. People with good communication skills
also usually enjoy better interpersonal relationships.
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Chapter 4
Entrepreneurship
What is Entrepreneur?
 An entrepreneur is a person who sets up a business with the aim to make a
profit.
 The entrepreneur meaning involves much more than being a business or job
creator.
 Entrepreneurs are some of the world’s most powerful transformers.
 Entrepreneurs can help more people recognize the value they contribute to
the world.

Characteristics of Entrepreneur
1. Creative
 To be successful, you need to always be thinking of new ideas and better
ways of doing things.
 Think outside the box and look for opportunities to come up with new
solutions.
2. Motivate
 Willing to put in the long hours and hard work required to launch and run a
successful new business.
 Must be in charge of your own time and how you spend it.
3. Flexible
 Know how to adapt to unfamiliar situations.
 Approach things with an open mind and are willing to change course if they
need to.
4. Empathy
 Understanding how other people think and feel about things.
 Understanding what the people you sell to want, what they need, how they
think, and how to best reach them.
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5. Planning
 Choose the plan depends on your business and the needs of your company.
 Need a plan regardless of what your goals and purpose.
6. Invest in yourself
 Need to invest time and energy into learning.
7. Take Risks
 Playing it safe almost never leads to success as a business owner.
 Calculated risks that are more likely to pay off is an important part of being
an entrepreneur.

Best Entrepreneurs in the World

1. Oprah Winfrey
 She currently owns two businesses – the Harpo Studios and the Oxygen
Media.
 She is also a talk show host and has a wealth of approximately $2.7 billion.
2. J K Rowling
 She is one of the best-selling authors in the world.
 She is famous for the fantasy series, Harry Potter.
 She is also a screenwriter and a producer.
3. Bill Gates
 The founder of the Microsoft Corporation is also an American business
magnate, investor, author, and a philanthropist.
 With a personal wealth of $90.4 billion, he is one of the richest and the best
entrepreneurs in the world.
4. Mark Zuckerberg
 At the age of 33, he is known to be one of the best entrepreneurs in the
world.
 When we would have been struggling with our examinations, he launched
the “Facebook”.
 Mark Zuckerberg, the current CEO of Facebook has a fortune of $62.9
billion today.
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5. Steve Jobs
 The list of the best entrepreneurs in the world will never be complete
without the name of Jobs.
 The founder of the Apple Inc., he is also known as “The Grandfather of the
Digital Revolution”.
 Though he had a rough life filled with financial problems, it didn’t stop him
from climbing the ladder of success.

Entrepreneurship Process
1. Preliminary Steps
 Preliminary steps are the initial steps one has to follow for establishing a
firm.
 At this stage, the to-be entrepreneur should be able to make a decision that is
going to affect the company.

2. Decision-making Steps

 Decision-making steps can be defined as those steps or say the lessons learnt
by an entrepreneur to make decisions efficiently.

3. Planning Steps

 Planning is an assumption or prediction of business requirements and

outcome in the future.
 It provides a space to review the best strategy to run the business by cutting
expenses and maximizing profit.

4. Implementation Steps

 Implementation is the most important and difficult step, during

implementation the actuals come to figure and something of real value is
generated.