Personal Narrative: What I Learned In Business

In business, I learned that it isn’t as easy as I thought it would be to manage your own company. Businesses are very hard to make because a lot of money is included to start the business and management is a must. Owning your businesses means you would have to take care of many things including: employment, paying bills, making decisions and becoming a leader. Managing a business effectively and managing staff effectively is the key to the establishment and growth of the business. The key to successful management is to examine the marketplace environment and create employment and profit opportunities that deliver the potential growth and financial capability of the business. An entrepreneur is a person who organizes and manages any enterprise, usually with considerable initiative and risk. The things I learned can definitely be used in my everyday life because it’s a way of surviving. Learning about business helped me get a better understanding of how I would run my own company someday.

My perception about business has stayed the same.

I would like to own my own pharmacy or boutique someday and probably with my mom as a business partner. A business cannot survive without management because management is its means of support. In this management conscious age, the significance of management can hardly be over emphasized. It is said that anything minus management totals to nothing. There is no more important area of human activity than management since its task is that of getting things completed through others. Basically if you want to own your own business, you would have to acquire some leadership skills. A business enterprise operates in a constantly changing environment. Changes in the business environment create risk and also provide opportunities for growth. A favorable and encouraging environment is essential for any business and sound management makes it possible

easily.
The disadvantages of owning a business is the fear to break down. One must have courage and confidence in order to take charge. Some important tips if you are interested in possessing a business would be: Employ responsible people, know what you are/are not capable of, do not spend too much money on unnecessary items, and have faith. Also, open communication between management and employees is very crucial. Employees need strong but fair leadership, which removes obstacles from their way while accomplishing the processes. If there is no open communication, then problems tend to be hidden and they delay smooth operation of processes. Managers’ job is to serve the employees. Time is limited. Everyone gets the same amount of time each day, and it's limited, therefore it's important to make the most of your time if you ever want to be more than average at the workplace. By taking control of your time, you're able to stay focused on the task at hand. This leads to higher efficiency since you never lose momentum. Imagine running a mile where you stop every 5 seconds, this would cause you to become exhausted very quickly and take much longer to complete the run. When you control your time and work more efficiently, you're able to learn more and increase your experience faster. There's a reason some students graduate earlier than others, so imagine executing time management throughout your entire career. You'll not only stand out from the rest, but you'll gain experience must faster and be able to move up in life a lot sooner. One of the main causes of stress is due to people feeling rushed. The phrase "I have so much to do and so little time to do it" is generally spoken with frustration which leads to stress. With good time management, you know how much time you have, how long it will take to get your tasks done, you accomplish more, and have more free time. This gives you more breathing room, which reduces the feeling of being rushed, which in turn leads to less frustration and stress.