14 Reasons why entrepreneurs should take a business management course

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There’s a saying. By failing to prepare you are preparing to fail. Many entrepreneurs start a business but few succeed. A person may have the zeal and passion but may also lack the skills and knowledge to run a successful venture. MANCOSA’s accredited and industry-acclaimed Business Management courses equip individuals and prospective entrepreneurs with the skills and knowledge to thrive in any economy.

According to recent media reports, South Africa’s unemployment rate is at an all-time high of 32.5% This article will give you insight as to why studying a business management course is imperative to entrepreneurs.

The state of entrepreneurship in South Africa

An entrepreneur starts a new business, bears most of the risks and hopes to reap the rewards. The state of entrepreneurship has improved over the past decade but more needs to be done to effectively use the scarce resources available in the country. South Africa has many young individuals that are interested in becoming entrepreneurs that need to be inculcated into an entrepreneurial culture. There needs to be synergy between ideas, skills and output. The economy has the potential to grow but lacks individuals who have the foresight to realise this growth.

MANCOSA had the pleasure of hosting successful entrepreneur Vusi Thembekwayo. Vusi went on to become a world-renowned international speaker and used his entrepreneurial expertise on the popular television show Dragons Den.  Pretoria born entrepreneur Elon Musk has gone on to found companies like Zip 2, X Com, PayPal, SpaceX, and Tesla. In January 2021 Musk was named the richest man in the world. The world is ever-evolving and the jobs you are doing now may be redundant in a few years’ time. The need to adapt to the latest technology gives entrepreneurs the opportunity to embrace the entrepreneurial landscape.

What is business management?

Business management is the process of planning, organising and analysing business operations in a manner that allows for a successful business. Effective business management is required for all types of businesses, regardless of size. So whether you work for a small family-owned business or a large corporate, business management will play an enormous part in the day-to-day operations. A business has various departments: finance, human resources, marketing, administration, logistics and supply chain, etc. The entrepreneur utilises his functions of management to plan, organise, lead and control so that the objectives of the organisation can be realised. Basically, business management deals with handling all business activities that relate to the ultimate satisfaction of the customer.

14 Ways a Business Management course can help entrepreneurs

Entrepreneurship gives you the opportunity to be your own boss. No one likes to be continuously told what to do and being confined to a cubicle or desk. You can own your time and enjoy a flexible workday. Entrepreneurship teaches you to be driven and to reach your growth potential that you may never realise while working for someone. Working for yourself motivates you to reach higher goals and pursue greater challenges. Most successful entrepreneurs are multi-millionaires. You define your income. Do you think you can be a multi-millionaire by working for someone else?  Most entrepreneurs allow their creative expressions to flow which may be bottled up by employers. You have the opportunity to impact positively your community by creating employment opportunities for those in dire need. Entrepreneurs are the catalyst of innovation, creativity and economic growth. Here are 14 good reasons to consider taking a business management course:

  • Assists entrepreneurs in making better decisions that may have a profound impact on the future of the organisation
  • Serves as a platform to build a network with like-minded entrepreneurs
  • Assists individuals to build capacity and gain practical experience in an enterprise
  • Studying a business management course improves a person’s chance of employment since many aspects of business is learnt
  • Business management instils the importance of teamwork in an organisation
  • Exposes an individual to staff at different levels of the hierarchy
  • Studying a business management course makes one aspire to be a leader
  • Exposes an individual to the use of sophisticated technology
  • Helps in achieving the desired goals of an organisation
  • Creates the cohesiveness of your venture
  • Business management creates stability and direction to the organisation
  • Communicates the company vision to all stakeholders
  • Helps managers make strategic decisions
  • Assists in analysing and forecasting the future trends of the business.

Business Management courses in South Africa

In order for individuals to be knowledgeable and well-equipped leaders of tomorrow MANCOSA offers the following business management courses:

MANCOSA’s business management qualifications produce intellectually advanced individuals who proceed to contribute positively to the continent’s economy. After completing these courses students are equipped with analytical and critical thinking skills which help in making important business decisions. MANCOSA’s technological platforms give the institution an edge over its competitors and benefits its students with excellent academic support.

Succeed in business with Mancosa

MANCOSA’s accredited and industry-acclaimed business management courses empower students to either contribute to the public or private sector as well as the opportunity to start their own business. Students have flexible study options for distance and supported distance learning. An individual can also work and complete a recognised qualification that may empower them for progression in their careers. Be part of this great revolution forward and find out more about Business Management for your career progression.

Author: Calvin Paltooram MANCOSA Academic