Key Topics that Are Influential in the Business and Professional Setting - Essay Example

Professional Business Report The business world is a broad, diverse, and dynamic setting. Many and different factors come into play in the business environment. Given the diversity and dynamism of doing business, players in this environment strive to adopt changes from time to time, with the primary objective of meeting consumer interests, needs, tastes, and preferences. On the same note, business enterprises have to be at par with trends in the society, otherwise they are prone to critical operational challenges if not complete failure. In light of these observations, business courses come in handy as an individual exits the academic setting for the business and professional world. Certain topics in different business courses are primarily important as far as the business world is concerned. This paper explores three key topics that are essentially influential in the business and professional setting. The first topic of focus is the 7Cs. The 7Cs stand for cash, customers, culture/coworkers, change, clock, cooperation, and communication. This topic is essential because it covers the most critical factors that drive business success. Business enterprises deal with the outlined factors on a daily basis. To start with, business enterprises and entrepreneurial ventures operate under profit motives. The bid to earn maximum revenues, minimize operational costs, and make high constitute the simplest goals and objectives pursued by businesses. The cash factor, therefore, fosters the understanding of business dynamics especially in regards to financial goals, decision-making, and management. The customer is an important party in the business world. The success of any given enterprise depends on the extent to which customers’ interests are met. At the same time, an enterprise cannot base its success on markets without accounting for the welfare of the consumer. In this respect, the customer is the primary driver of the business world. Even with high quality and affordable products and/or services, an organization cannot perform without selling and doing business with consumers. This lesson is critical because individual going into the business world must understand the importance of customers or consumers in the business world. The third component in the 7Cs accounts for culture/coworkers. The business world cannot do without these two fundamental aspects. In today’s business world, cultural diversity is the order of the day. Globalization and liberalization of both trade and commerce has increasingly converted the world into a highly accessible global village. As a result, culture has diversified, and so has the interaction of coworkers. In light of the 7Cs topic, it is essential to understand the connection between culture and workplace experiences. In so doing, going into the business world will provide an opportunity for an individual to apply practically lessons learned in the academic setting. Change is inevitable in the contemporary business setting. An easy way to look at change is to consider the effects of new and advanced technologies. Business-tailored technologies have revolutionized the way today’s enterprises conduct their business. Business models, accounting, operations, and management software and hardware are available for employees, managers, and leaders to enhance their performance and productivity in the organizational setting. This makes change a critical component of organizational growth and development. Additionally, businesses are continuously venturing into new markets in search of new opportunities around the world. In the process, change becomes inevitable duet to social, economic, legal, and political differences across the globe. Most importantly, consumers are rational and dynamic in nature, and businesses have to keep at par with such trends. With these developments in mind, there is no doubt that new entrants into the business world will be encountering unique, diverse, and progressive experiences from time to time. In essence, entrants into this world have a responsibility to be drivers of innovation and creativity as far as change in the business world is concerned. The clock factor brings time into perspective. Businesses are subject to the influence of time on a daily basis. The goals and objectives set by an organization are time-bound. On the same note, players in the business world have to be time-conscious because their personal and professional goals and expectations are subject to the influence of time as well. Additionally, customers’ interests, needs, tastes, and preferences change from time to time, an aspect that makes time a critical factor to work with at all times. This makes daily schedules, short-term and long-term business interests essential for business entrants to examine, assess, or evaluate as the plans therein fall due. Cooperation is a vital practice because it provides a platform for business relations and interactions. Employers interact with their employees, business enterprises interact with their customers, and the business world interacts with the larger society. Understanding how these interactions work is important. Entry into the business world gives an individual the opportunity to explore how the aforementioned stakeholders affect one another from time to time. In order to cooperate, however, communication is paramount. This last factor of the 7Cs highlights the most important practice in the business world. Communication is an ongoing process in the business world. Entry into the business world will require an individual to explore ways of making communication more clear, effective, and beneficial. This is more so in regards to increased diversity in the business setting. In essence, an individual ought to apply communication strategies when it comes to exploiting opportunities of diversity in business. The second topic maintained that businesses are simply the same. In other words, business operations are more similar than different. The concept of similarity in business informs the practice of gaining and retaining customers in a profitable manner. As earlier mentioned, businesses operate under profit motives. A business that cannot make profits will ultimately fail at some point. This does not mean businesses do not make losses, but that profit making outweighs loss occurrences for a business to be profitable. Business trends show that firms strive to gain and retain customers over time. Through this practice, businesses create consumer bases that drive their success agenda. Based on this observation, businesses are the same because their primary focus encompasses attracting as many customers as possible and selling the highest quantities of commodities they can. As much as businesses are the same, entry into the business world would require an individual to be creative and innovative. There is need to position a business enterprise in a differentiated manner in the business world. Whether an individual becomes employed or self-employed, the businesses are the same topic comes in handy in testing an individual’s ability and potential for success in a dynamic world. Additionally, businesses are the same but they employ the 7Cs differently. The idea is for an individual to explore and practically implement new and advanced ways of ensuring the 7Cs practices outperform rivals or competitors in the business world. The third and final topic deals with morals and ethics in business. This topic addresses issues related to how businesses should conduct themselves in the society. On the same note, the topic highlights organizational values that businesses practice in the line of doing business. As an individual goes into the business world, it is important to understand that morals and ethics vary from place to place. However, business enterprises have a responsibility to be accountable in the society. Firms cannot afford to exploit the society or operate from immoral and unethical perspectives. A morally and ethically accepted business practice in the United States, for example, could be immoral or unethical in another country or countries around the world. Therefore, it is important for new business entrants to understand that moral and ethical practices vary from one country to another. The common denominator, however, is that ethics and morals are critical to the success of any given business enterprise. At an individual level, the lesson learned and subsequent application of this topic revolves around understanding the cultural, social, legal, economic, environmental, and political environments within which business firms operate. Read More