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Marketing, Supply Chain Management, Finance, and Human Resources

Introduction

Knowledge in business prepare one for the corporate world by providing one with

different aspects of a business. This covers both sides, the starting your own business one as well

as working somewhere as an employee. This makes business skills critical for professionals, they

must have like good finance, marketing, communication skills, time management, and

impeccable business ethics and so on. Ideally, business skills not only take you through the

technical aspects of running a business but would also help strengthen your soft skills and

leadership capabilities. While this in no way means that someone without proper business

education cannot manage a business, it can definitely not be denied that a formal education in the

field prepares you for the real-world challenges better.

Marketing

Marketing is anything that attracts an audience. This varies from business to business,

and company to company, but the goal is the same: attract a following with an end goal in mind.

For most, this end goal is a profit. Even marketing strategies that don’t seem like they’re looking

for a profit probably are. I think most immediately of Facebook. It doesn’t seem like there’s
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profit in it–it’s free, after all. But the sidebar of ads says otherwise (Shimp 125). Marketing

activities usually are indirect contact between an organization and a potential customer and

include but are not limited to digital advertising, brand promotion, event sponsorship, etc. All

marketing activities have one goal: qualify the customer and bring them form the “marketing

process” to the “sales process”, where the customer comes into direct contact with the company.

Types of Marketing

Viral Marketing

This kind of advertising depends on the message of an advertiser being spread rapidly through

different social networks so as to expand product awareness.

Promotional Marketing

This form of advertising is a typical type of promoting technique that organizations use to spur a

shopper to settle on a choice and buy their item.

Guerrilla Marketing

With a littler spending plan, guerrilla showcasing makes a sprinkle by depending on vitality,

timing and unique ways to get client’s attention. The eccentric showcasing included attempts to

get the most out something little, and make an enduring brand picture in the purchaser's brain.

Personalized marketing

The objective of customized promoting is to make an interesting idea for every individual client.

This type of promoting doesn't work for any organization, however certain ones can gain by their

unique items and client socioeconomics to market to people.

I believe that marketing has the same value as it had some time ago. However, it is highlighted

everywhere. It is “in trend” right now. What is more, it’s a part of the competition on the market.

The reason is the marketing is becoming more common and available for people. For example,
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social marketing is one of the greatest engines to promote product/service nowadays. You can go

into it without spending. I’m working in marketing automation. It’s also popular nowadays.

Why? Because we live in the world where people try to automate every single process and save

time, fast actions. That’s what marketing automation does. It’s not removing marketers, but helps

them to be MORE valuable, to save MORE time, to make content more personalized.

Finance

Finance is the most vital part of any business. While considerable amount of knowledge

in financial management is necessary for any management student, a specialization in financial

management prepares a candidate for decision making roles. The course provides knowledge on

the tools and techniques necessary for business decisions (Besley 200). A specialization in

financial management aims for the candidate to develop a holistic approach of management in all

disciplines of Finance and understanding the financial situation around the world.

Business finance incorporates the data contained in budgetary archives, for example,

profit and loss proclamations, monetary records and income records. It likewise covers

techniques that organizations commonly use to deal with their cash, for example, leveraging

future instead of present esteem. Equipped with this knowledge about how cash flows and

develops, you will have the instruments to settle on vital choices for dealing with your business'

funds and exploit openings.

Finance relates to money and matters related to money. You need money to pay fees to

the college, buy books, pay transportation charges, buy lunch, pay for shopping and many more.

The amount required for all these activities collectively called as finance. In case of shortage of

funds, you will tell your friend that you are short of finance. Finance bothers not only

individuals; however, also organizations and business enterprises. For them they need finance to
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pay salaries, purchase raw materials, pay for advertisement expenses etc. In order to fill up the

gap they approach the banks for lending them some money for which they are ready to pay

interest.

Supply Chain Management

Supply chain management infers, right item at the ideal spot at the perfect time at the

correct measure and at the correct amount. For example, in a grocery store, if the shopper found

in an item shelves, there is tag for the item however no item in racks; what you think? Truly, that

is a direct result of poor administration of SCM (Ross 116). To be precise SCM is the

administration of inbound and outbound coordination procedure to incorporate from

acquirement, providers, producers, stockroom, wholesalers, transportation, and store so as to

satisfy shopper needs. Supply chain management is critical since it enhances effectiveness as

well as customer fulfillment. Nowadays, Supply chain management plays an important role on

the organization success. Competently running supply chains permit organizations to quickly

deliver products to the end-user at an affordable price. They want a better product, faster service,

and lower prices.

Human Resources

Human resources are the general population who work for the association to sort out the

human or representatives. Human asset is genuine representative administration who

accentuation on those workers affirms of the organization. Human resources deal with the

general population in term of inspiration, task determination, work law consistence, execution

tracker, preparing, and proficient improvement. HR are the way to planning and dealing with the

meeting (Aquinas 125). A HR division is an important unit of any organization without

necessarily considering the size of the organization. It is normally focused on boosting worker
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profitability and protecting the organization from any problem that may arise from the

workforce.

Conclusion

In this world we live in, excellence is driven by commerce. No matter how good a

science project you can come up with, or how good a lawyer you are, you simply need to get

some commercial knowledge/hire someone who does, if that expertise is to turn into

profit/benefit for you. So for that reason alone. You can never leave commerce out if you're to

create wealth.
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Work Cited

Shimp, T. (2013). Advertising Promotion and Other Aspects of Integrated Marketing

Communications. Boston, MA: Cengage Learning.

Aquinas, P. (2016). Human Resource Management - Principles and Practice. Vikas Publishing

House.

Ross, D. F. (2016). Introduction to Supply Chain Management Technologies, Second Edition.

Boca Raton, FL: CRC Press.

Besley, S., & Brigham, E. (2013). Principles of Finance. Boston, MA: Cengage Learning.