Continuing education should form part and parcel of one’s professional goals – whether you are a young licensed engineer starting out in the workforce, a seasoned manager who is midstream in his or her career or an entrepreneur overseeing a growing enterprise.
Given Singapore’s favorable business climate and economic outlook, a business and management qualification might just be the leverage you need to capitalise on the emerging market opportunities.
For those looking to fast-track their careers, a business and management qualification is a logical choice for both new and experienced professionals. Let’s find out how a business and management qualification can give your career that much needed boost.
1) Singapore is the Financial Epicentre of Asia
Singapore is considered as the financial gateway to Southeast Asia. The Lion City is strategically located in one of the world’s fastest growing regions. It is also recognised as an excellent wealth management hub where foreign investors enjoy easy access to global markets.
For the past eleven consecutive years, the World Bank has ranked Singapore as among the top 3 countries in its annual ‘Ease Of Doing Business’ report. With this impressive distinction, more and more companies continue to set up their headquarters and operations in Singapore. This certainly provides a wealth of career possibilities. A business and management qualification will certainly enhance your credibility and thus, make you a more attractive option to employers.
2) Transferable Skills Across Industries
Whether you plan to specialise in areas such as finance, sales, marketing or project management, the skills and technical knowledge you acquire through a business qualification will be of great benefit to you and your employer in whatever industry you decide to enter.
In addition, business skills are not only transferable but also highly valued in the marketplace. According to payscale.com, a business manager in Singapore earns an annual income of over SGD 90,000.
Let’s take a closer look at some of these business skills:
Finance in the business context covers a wide range of concepts and methods that revolve around the management of money and other valuable assets. A business finance qualification includes accounting methodologies, investing strategies and effective debt management. The field of finance is subdivided into three main categories: personal finance, corporate finance and public finance.
The field of sales concerns itself with transactions between two parties whereby the buyer receives tangible or intangible goods, services or assets in exchange for money. Technically, a sale is considered a contract between the buyer and seller on a specific good or service.
Marketing refers to the activities carried out by a company to acquire customers and maintain a relationship with them. Examples of marketing efforts are studying site data analytics, creating social media marketing strategies, discussing key messages for a tv commercial and preparing budget for a print marketing campaign.The ultimate end of marketing is to match a company’s products and services to the people who need and want them.
d) Project Management
Project management concerns the planning and allocation of a company’s resources in the completion of a specific task, event or duty. It normally involves a one-time project over a period of time rather than a continuous task. A project manager oversees various aspects such as personnel, finances, technology, contract negotiations and risk management.
3) Gaining A Global Mindset
Embarking on a management qualification not only means getting a good grasp of the technical aspects of business and management but also acquiring a global perspective that will help you understand the importance of working together to address the problems and challenges facing the world and the global business community.
According to Nakiye Boyacigiller, Dean of the Sabanci University, one of Turkey’s top business schools, “A global mindset helps leaders see the world from multiple perspectives, make decisions that work both locally and globally, and increases the ability of their company to compete in the global marketplace.”
4) Passport To A Management Position
Finally, a management qualification allows you to move up and assume managerial and executive positions within an organisation faster. Aside from the exposure to the various disciplines of business, a business and management qualification equips you with highly essential skills for the workplace such as delivering powerful presentations, the science of time management and the art of leading productive meetings.
Given Singapore’s consistent triple-A economy rating along with its high per-capita income, strong fiscal metrics and healthy institutions, it is not difficult to see why a business and management qualification will be a worthwhile investment for your career that is sure to pay huge dividends in the long term.