With the ramified globalised changes, there are several courses which I could opt as per the chosen career. I want to make my career in banking and finance filed where I could deploy my divergent and coherent thinking to create value on the invested capital. The career chosen to be opted is Masters in Business Administration in Global Banking and Finance. This essay will divulge the key understanding on the chosen topic and related theories which I could use in this study program. The following essay represents the approach that depicts the subjects required to be studied in the due course and as well as represents the skill set that is required to complete the course in an effective manner.
Accounting for managers: this subject shall enable the student to get a complete knowledge and understanding of the business transactions. The idea is to gather an understanding of the accounting principles, financial analysis, and accounting relating to costs and management (Peirson, Brown, Easton, &Howard, 2014).
Practice in leadership: this course is designed to evolve the leadership skills that the future managers shall inhibit. The limelight area is development of technical skills of the managers and gains an expertise in their professionalism (Machado, & Davim, 2016).
Finance: the knowledge regarding appraisal of investment, financial management, sensitivity analysis, project financing, capital rationing, bond and equity valuation, policies of dividend etc. shall be taken (Beal, 2016).
Management of human resources: all the knowledge relating to motivation, training, selection, sourcing and rewarding of workforce is acknowledged. The management of human resources is undertaken in this.
International banking: the regulatory and supervisory issues relating to the concept of international banking. Study relating to regulation of banks, globalised banking, system of shadow banking, etc is focused (O’Connell, 2017).
Practice of marketing: the concepts relating to marketing process is gathered. The relationship between different concepts like the marketing strategies, customer behaviour, brand reputation, technological considerations, etc. shall be discussed.
Business strategic analysis: to work with the dynamic and complexed business environment there stands a need to formulate strategies that are bringing a balance between the firm’s internal and external environment. This subject is dealing in the same line (Tarnec, &Louis, 2015).
Operational management: the study of the management of different business operations dealing with company’s business and marketing strategy is dealt. The focus of this subject is to help the manager to aid in management of different business operations and processes.
Entrepreneurship: the study deals with all the areas that relate to financing and inception of the new business idea that the business owner is thinking to incorporate (Rongpipi, 2015).
As far as the comparison between the subjects required to be studied and the subjects that are intended to be studied, there lies difference in the scope of study. The current study subjects relate to these areas but in a limited scope. The further study shall explain in depth the current subjects only, but the horizon is expanded. It also reveals the challenges and possible issues which I might face while studying this course. Nonetheless, this course focuses on my own understanding and will deepen my critical and divergent thinking towards the banking and finance sectors.
The chosen career is Master in Business Administration in Global Banking and Finance. This career could be chosen by the person who is dynamic and knows how to express the objectives of the business in a realistic manner. The skills that the person has must be very versatile personality and knows how to work effectively in a team. The communication and presentation skills need to be very solid and well organised to be a good manager and conduct business in an organised manner. The most important skills in this course are discussed in detail as follows:
All the soft skills that are must to be embedded in order to gain success in successfully maintaining the leadership role that includes motivating the team and working in a coordinated manner are requisite. These skills incorporate every important aspect that shall help the leader to deal with the clients and impart all that is required to gain success and beat failure. It is important to communicate well with the peers, customers, suppliers and every other related party to make a good business. All the normal and general communication skills are must in this (Cheruvelil, et. al 2014).
There is a serious need that the managers to be good at speaking and communicating well. These include sound verbal communication, motivational tactics, public speaking skills, etc. the way a leader speaks is of much significance when it comes to an MBA. The public speaking needs to be proficient in both group and individually (Biswas, 2017).
The business writing skills involve a trained leader who is well proficient and skilled in the areas of punctuation, sentence structure, grammar and spelling. This will be useful in the need when the leader needs to write the business related documents involving e-mails, reports, letters, memos, and other related documents. This shall also be important to write communications to be made to the public and other stakeholders (Weldy, 2017).
Any business is not a single person affair. Several employees and workforce are involved to make the business grow. There is a need to bring harmony in the business by keeping the team coordinated. Bring harmony and coordination in business is the job of the leader. The leader must know how to work in a team and keep the goals in line. The leader must know how to encourage the team and be an inspiration to help every person grow (Seenan, Shanmugam, &Stewart, 2016). This team working skills helps in developing coherent thinking and divergent work structure in effective manner.
Divergent and coherent business skills
It is analyzed that if I want to pursue banking and finance course then i must focus on using my own divergent thinking and analytical work approach which will not only help me to strengthen my own critical thinking for investment and banking but also assist me to identify the possible future challenges which i might face while opting particular investment. This is also required to prepare the long term strategic planning in business.
The leader needs to know how to analyse the business results. The results need to be analysed with the help of certain ratios and trend analyses. The aim of the information analysis is to get an understanding of the business performance. There are several areas of entrepreneurship and finance where business lacks can be understood by a systematic learning approach. After the analysis is made it is important to interpret what the results speak about business performance.
After the results are analysed and interpreted, the next important task is to present the results in a form which can be understood well by the users. The presentation needs to be in the form that is guided by the statutory reports. The form of the reports needs to be in a simple and understandable manner. The presentation of the results must focus on both the qualitative and quantitative manner (Hair, Wolfinbarger, Money, Samouel, &Page, 2015). The presentation skills is also related to soft skills and basic computer knowledge which will help me to convey my thoughts and business idea to the potential stakeholders who are ready and would be ready to invest in the particular business ventures.
Before any leadership gaining person can gain the position of the manager, there is a need for him to market himself to gain that position. To join any company, he must be able to present his skills to the prospective employer in the most attractive manner. The presentation of the skills cannot be done orally. A written approach is needed to be adopted by the person to enable the company to understand why the person should be appointed. All the skills that are discussed above are required to be explained in the resume. The writing of resume involves good reading and writing skills (Moore, 2016).
It is not just enough to present the resume in a written form. Even though the skills are already written in the resume, it is very much necessary to explain and advertise those skills to the employer. This is important to make the employer decide whether to hire a person or not for the given position. The ability to express one’s abilities in an interview in an oral manner in an interview is counted in the job interview skills.
These skills include the very basic fundamentals being effective communication, proper public speaking, sound listening, effective technological usage, better understanding etc. (Smith, et. al 2017).
There are several theories and practice which needs to be followed while indulging in this banking and finance course work (Weldy, 2017).
Networking theory
This theory focuses on setting up a proper network and implements the strategic approach which will be used to develop social interaction, collaboration, and communication lead and strengthen the student achievement and divergent thinking. This will not only take the process of learning effective but also strengthen the study program and job employment.
Social cognitive theory
This theory reveals the interaction and leading skills which could be developed when a person interact with others. It is required to understand the values, perception, views and thinking of others to influence them in positive manner. It is found that self-efficiency is one’s belief in their ability to reach set goals. If a person evaluates himself in effective manner then he could easily mitigate the issues and challenges of the related work which will assist in learning new ideas and coherent thinking.
Learning theory
As per the learning theory, selection of the particular course material for study should be based on the interest and set objectives. It is analyzed that learning theory supports the interest of the individual which strengthen the overall outcomes and learning skills of the person. It is analyzed that if person wants to take interested course work in his study then he should focus on pursuing related course work which will eventually help him to achieve his goals and objectives (Weldy, 2017).
These all theories have divulged the key information and set skills which a person should evaluate before selecting the particular course work and study program.
Conclusion
After assessing all the information and study course skills which needed to be developed to pursue particular banking and finance course, it is found that student should evaluate himself whether they have basic knowledge, coherent and divergent thinking accompanied with the key skills. After that they need to decide which option they could opt to undertake particular study program. This is very crucial to decide which study option a student should opt. However, as per my perception, the particular case study material should be selected based on own divergent thinking and set skill sets. After that objective and related interest should be seen. Now it could be inferred that, study course material are the major factor for achieving the set objectives and goals.
References
Beal, B. (2016). In touch with the softer side of MBAs: But importance of hard skills subjects emphasized. Development and Learning in Organizations: An International Journal, 30(2), 31-33.
Biswas, G. (2017). Unit-7 Developing Speaking/Oral Skills, Australia: Pearson.
Cheruvelil, K. S., Soranno, P. A., Weathers, K. C., Hanson, P. C., Goring, S. J., Filstrup, C. T., & Read, E. K. (2014). Creating and maintaining high?performing collaborative research teams: the importance of diversity and interpersonal skills. Frontiers in Ecology and the Environment, 12(1), 31-38.
Hair Jr, J. F., Wolfinbarger, M., Money, A. H., Samouel, P., & Page, M. J. (2015). Essentials of business research methods, Australia: Routledge.
Machado, C., & Davim, J. P. (2016). MBA. Springer International Publishing: Imprint Australia: Springer,.
Moore, K. (2016). Study: Poor Writing Skills Are Costing Businesses Billions. Inc. March, 31, 2016.
O’Connell, M. (2017). CRE Q&A: Jason Pendergist. ABA Banking Journal, 109(5), 12.
Peirson, G., Brown, R., Easton, S., & Howard, P. (2014). Business finance. McGraw-Hill Education Australia: Pearson.
Rongpipi, P. (2015). An Overview of Management Education Prevailing in Assam and the Impact on Socio-Economic Development of the State. The International Journal of Business & Management, 3(12), 19-22.
Seenan, C., Shanmugam, S., & Stewart, J. (2016). Group peer teaching: a strategy for building confidence in communication and team working skills in physiotherapy students. Physiotherapy, 2(3), 33-44.
Smith, M., Smith, J., Fleming, M., Jordan, N., Brown, C. H., Humm, L., … & Bell, M. (2017). 183. Virtual Reality-Enhanced Job Interview Skills Help Individuals With Severe Mental Illness Obtain Job Offers. Schizophrenia bulletin, 2(3), 33-44.
Tarnec, L., & Louis, P. (2015). European bank business models at the regulation age (Doctoral dissertation, Dublin Business School), UK: Pearson.
Weldy, T. G. (2017). Facilitating Process and Practice for Improving Business Writing Skills. American Journal of Management, 17(5), 60-66.
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