This is a 2 year online, part time, certificate course on Management Basics, learning through family business. You may be having your own family’s business. In that case it will be ideal to use the context of that business for this course.
In case you do not have family’s business, still it is possible for you to derive learning from this course. All that you need to do is to connect with a friend who has family business and who is ready to help you in your learning.
Irrespective of whatever you are learning in your routine studies, what ultimately matters is your ability to connect with real life situations and family business is an ideal ground to learn about the realities of business in particular and life in general.
Every family business is full of thrill and challenges. On one hand there are huge opportunities and on the other hand there are never ending problems. Hundreds of decisions are being taken and all kind of uncertainties are handled. Some problems are solved and some remain unresolved and businesses learn to live with it.
This course envisages advancement for you on all the three pillars of education – knowledge, skills and attitudes.
Applying yourself to the family business will expose you to each and every aspects of the business. Whatever is your academic background, you will augment your knowledge about business tremendously.
You will witness and eventually develop skills in areas related to communication, observation, listening, negotiation, analyzing numbers, decision making, etc.
Finally you will realize values of learning to face failure, to take on challenges, to dream big, You will become alert to the values of becoming dependable, passion, perseverance, curiosity, attention to details, initiative, and the most important – the role of values and ethics in family business culture.
At the same time you will also learn about the vital role of the family values and dynamics in the family business. How family dynamics become the critical pillar and support for the business and how it facilitates agility, risk-taking and quicker decision making which are the unique competitive advantages of the family businesses.
The contents and the methodology of the course is explained below in the next sections. Welcome to this unique and precious learning that build the prized foundation of your life.
1. Introduction to the course
Family business as a source of Education, Personality Development and Crafting Character.
2. Management Basics – Learn from your family business
Learn from your business – Every business has a story.
3. Story - 1
Tapori to Restaurant Chain
4. Story – 2
A CA not sure of what to do.
5. What is your Family Business Story?
For sure there is a story. Discuss and find it out.
6. Module 1.1
Understanding the background of the business
1. Understanding that each business has Products and/or Services.
Business involves getting money in exchange of some product or service
2. Module 2
Understanding your Products/Services
1. Product Focus to Customer Focus
Shifting the focus from what is the product to whose and what problem does it we solve.
2. Module 3
Understand your customers and what problem they want to solve.
1. Customer has a choice - the competition
Even when we solve the problem, we may not get the business. There is competition
2. Module 4
Understand your competition and how do we compare to them.
1. Deliverying what is pormised is called Execution
There are processes involved and they need to be systematized
2. Module 5
Study execution in your business and understand the process flow
1. Performance depends on Quality
What is the right quality and in turn it depends on what?
2. Module 6
Study what is right quality in your business and the importance of service?
1. Performance depends on Sourcing
The sourcing or purchasing affects profitability.
2. Module 7
Study how sourcing is handled in your business and how if affects the profitability
1. Performance depends on People
Why will people do what we want them to do? People performance depends on what?
2. Module 8
Study how is the people performance in your business
1. Performance of the people in turn depends on Processes
Many steps are involved in managing people. It will affect their performance.
2. Module 9
Study how are the people processes in your business
1. How we value our People
Do we see our people as Human Resource, as assets or as a limitation. The performance in turn depends on how we look at our people
2. Module 10
Study the behaviour of some the people in your business
1. PERFORMANCE HAS TO RESULT IN MONEY
Sales, profit and growth are relevant to study the financial outcome
2. Module 11
Study the sales, profit and growth in your business
1. THE SOURCES AND APPLICATION OF MONEY IS A CHOICE
Different sources and application of money and the implications
2. Module 12
Study the sources and application of money in your business.
1. BORROWING HAS A ROLE TO PLAY IF RIGHTLY DEPLOYED
There are different aspects of borrowing.
2. Module 13
Study the philosophy of borrowing and the impact in your business
1. RETURN ON INVESTMENT SHOWS THE FINAL OUTCOME
There are three components to ROI - Profitability, Asset turnover and Leverage
2. Module 14
Study the ROI and its components in your business
1. THE COSTS ARE DYNAMIC
There are different type of costs and it is very difficult to know the real costs
2. Module 15
Study the costs involved in your business
1. TAXES AFFECT THE COSTS
There are direct and indirect taxes and they affect the costs
2. Module 16
Study the impact of taxes in your business
1. LAWS AND LEGAL SYSTEMS AFFECT THE BUSINESS
There are legal aspects and litigations in business
2. Module 17
Study the impact of legal issues and litigation in your business
1. BUSINESS INVOLVES RISK
There are different risks and ways of mitigation
2. Module 18
Study the kind of risks involved in your business and steps taken to mitigate the same
1. OWNER\\\\\\\\\\\\\\\'S ORIENTATION DETERMINES THE OUTCOME
External orientation, opportunity focus and doing things differently determines the outcome
2. Module 19
Study the owner's orientation in your business
1. PERFORMANCE DEPENDS ON ORGANISATION CULTURE
There are different dimensions of organisation culture
2. Module 20
Study the organisation culture of your business
1. DECISION MAKING REQUIRES CLARITY OF CERTAIN TERMS
Clarity about opportunity costs, sunk costs etc is important
3. Module 21
Study the impact of these critical terms in your business
3. Management Tools - Part 2
Management Tools and Decision Drivers
1. ADMINISTRATION IS CRITICAL
Administration plays a silent but critical role in the business
2. Module 22
Study the different aspects of administration in your business
1. MONITORING BUSINESS RQUIRES MIS AND PLANNING
There are different aspects of MiS and planning
2. Module 23
Study the MIS and planning mechanisms in your business
1. ENVIRONMENT AFFECTS THE BUSINESS
PESTLE and Industry Structure Analysis helps to understand the environment
2. Module 24
Study the environment of your business