D.

NO 18PBA205
Course : SKILLS FOR MANAGEMENT STUDIES
Skills Required For Business Today
Skill is ability to do something well, which is the most important feature for
business. The following skills are essential for business.

Planning
Planning is the first step for everything. It is very essential for Business.
Planning is the process of thinking about the activities required to achieve a
desired goal. Planning is a tool that is useful for guiding day-to-day decisions and
also for evaluating progress and changing approaches when moving forward.
There are three types of planning namely operational planning, strategic planning
and tactical planning.

Communication :
Communication is an important part of our life. To be succesful in business,
we have to communicate well.when we communicate with our stake holders and
clients it should be clear. Strictly speaking Business Communication is information
sharing between people within and outside an organisation that is performed for
the commercial benefit of the organisation.

Delegation :
Deligation involves assigning responsibility to other people for the
completion of work. Superior has to entrust some of his duties to his immediate
subordinate. The subordinate should be granted necessary power and rights. We
should properly deligate the work for better business.
Creativity :
Creativity is the MANTRA here. We are living in the modern world so we
should always think out of the box. Creative thinking helps to develop the
business. It is the process by which individuals comeup with new ideas to
business. New ideas could result in the new product . creativity will always help us
to differentiate from others.

Sales and marketing :

Establishing succesful sales and marketing methods and policies from
pricing and advertising to sales techniques are essential in growing our business.

Marketing is the life blood of any business now. So we should market our
products as much as effective. We have to introduce new market strategy to
attract people to buy our product so it is one of the important skills in business.

Financial management :
The activity of finance is the application of a set of techniques that
individuals and business use to manage their money. We should have know how
to manage the expenditure and income. Budgeting and financial repporting is the
most essential thing in business which helps to find the position of business.

Learning and analytics :

A lifelong learning will help the business to grow further. We should learn
the new technology and techniques of market to survive in the field. Learning is
inter connected with analytical skills. Analytical thinking is the ability to asses the
presnet condition of buisness and how you want to see it in the future. Analytical
skills mainly focused on data.

Reference : wikipedia and WWW.business.com/articles/12businessskills